secwatch.observer — SEC 8-K summary
======================================

Issuer:     CIRRUS LOGIC, INC. (CRUS)
CIK:        0000772406
Form:       8-K
Filed at:   2022-11-01T23:59:59+00:00
Accession:  0000772406-22-000036
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cirrus Logic Q2 FY23 revenue $540.6M record; GAAP EPS $1.52, non-GAAP $1.99, above guidance
--------------------------------------------------------------------------------

- Revenue $540.6M, up 37% QoQ and 16% YoY; GAAP/non-GAAP gross margin 50.2%.
- GAAP EPS $1.52, non-GAAP $1.99; operating profit 21.5% GAAP, 27.3% non-GAAP.
- One customer contributed ~82% of revenue; audio 62%, HPMS 38%.
- Q3 FY23 outlook: revenue $520M-$580M, gross margin 49%-51%, R&D+SG&A $153M-$159M.
- Repurchased $50M shares in Q2, $25M after quarter-end; cash $427.9M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/772406/000077240622000036/0000772406-22-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/772406/000077240622000036/crus-20221101.htm
  HTML page:      https://secwatch.observer/filing/0000772406-22-000036

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer