{"schema_version":"secwatch.filing_event.v1","accession":"0000772406-23-000016","form_type":"8-K","ticker":"CRUS","cik":"0000772406","company_name":"CIRRUS LOGIC, INC.","filed_at":"2023-05-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.203057+00:00","generated_at":"2026-06-15T23:37:44.420860+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.78,"calibrated_materiality_score":0.78,"confidence":"high","headline":"Cirrus Logic reports record FY23 revenue $1.90B; Q4 loss on impairments; HPMS product canceled; Q1 guide weak","bullets":["Record FY23 revenue $1.90B (+7% YoY); GAAP EPS $3.09, non-GAAP $6.42.","Q4 rev $372.8M, GAAP loss $(0.97) from $85.8M intangibles impairment and $10.6M lease/restructuring; non-GAAP EPS $0.92.","HPMS revenue 38% of total (vs 12% in FY19); planned new HPMS product for fall canceled, removed from internal model.","Q1 FY24 revenue guidance $260-320M (midpoint ~$290M, -22% QoQ, -26% YoY); gross margin 49-51%.","Inventory rose to $233.5M from $152.4M; one customer ~83% of FY23 revenue; $501M buyback authorization remaining."],"urls":{"canonical":"https://secwatch.observer/filing/0000772406-23-000016","json":"https://secwatch.observer/filing/0000772406-23-000016.json","markdown":"https://secwatch.observer/filing/0000772406-23-000016.md","text":"https://secwatch.observer/filing/0000772406-23-000016.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/772406/000077240623000016/0000772406-23-000016-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/772406/000077240623000016/crus-20230504.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T23:37:44.420860+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1454f768c05cc3a574bc45969fee963e2f25854a","claim":"CIRRUS LOGIC, INC. reported Q1 FY2024 outlook results: revenue $260 million to $320 million. Guidance initiated.","evidence_excerpt":"Revenue is expected to range between $260 million and $320 million; • GAAP gross margin is forecasted to be between 49 percent and 51 percent; and • Combined GAAP R&D and SG&A expenses are anticipated to range between $142 million and $148 million, including approximately $23 million in stock-based compensation expense, $2 million in amortization of acquired intangibles, and $3 million in acquisition-related costs.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/772406/000077240623000016/0000772406-23-000016-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Q1 FY2024 outlook"},{"label":"Revenue","value":"$260 million to $320 million"},{"label":"Guidance","value":"initiated"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"7e9e403ad489cfa1ba558889c0567f95dbe5bfeb","claim":"CIRRUS LOGIC, INC. reported Fiscal Year 2023 (ended March 25, 2023) results: revenue $1.90 billion, EPS GAAP earnings per share of $3.09 and non-GAAP earnings per share of $6.42.","evidence_excerpt":"Revenue of $1.90 billion; • GAAP and non-GAAP gross margin of 50.4 percent and 50.5 percent; • GAAP operating expenses of $707.9 million and non-GAAP operating expenses of $486.4 million; and • GAAP earnings per share of $3.09 and non-GAAP earnings per share of $6.42.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/772406/000077240623000016/0000772406-23-000016-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Fiscal Year 2023 (ended March 25, 2023)"},{"label":"Revenue","value":"$1.90 billion"},{"label":"EPS","value":"GAAP earnings per share of $3.09 and non-GAAP earnings per share of $6.42"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"b62e31e255dd58829a6fb81b0bef20c73465b2fa","claim":"CIRRUS LOGIC, INC. reported Q4 FY2023 (quarter ended March 25, 2023) results: revenue $372.8 million, EPS GAAP loss per share of $(0.97) and non-GAAP earnings per share of $0.92.","evidence_excerpt":"Revenue of $372.8 million; • GAAP and non-GAAP gross margin of 50.0 percent and 50.1 percent; • GAAP operating expenses of $249.2 million and non-GAAP operating expenses of $119.8 million; and • GAAP loss per share of $(0.97) and non-GAAP earnings per share of $0.92.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/772406/000077240623000016/0000772406-23-000016-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Q4 FY2023 (quarter ended March 25, 2023)"},{"label":"Revenue","value":"$372.8 million"},{"label":"EPS","value":"GAAP loss per share of $(0.97) and non-GAAP earnings per share of $0.92"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}