{"schema_version":"secwatch.filing_event.v1","accession":"0000772406-23-000047","form_type":"8-K","ticker":"CRUS","cik":"0000772406","company_name":"CIRRUS LOGIC, INC.","filed_at":"2023-08-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.631862+00:00","generated_at":"2026-06-12T10:10:27.179543+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Cirrus Logic Q1 FY24 revenue $317.0M, down 19% YoY; issues Q2 guidance $430-490M","bullets":["GAAP EPS $0.28, non-GAAP EPS $0.67; GAAP gross margin 50.3%, non-GAAP 50.4%.","One customer contributed 83% of revenue; audio 62%, HPMS 38%.","Workforce reduction of ~5% implemented in July to align cost structure with revised expectations.","A planned HPMS component is no longer coming to market; wafers reallocated to other products.","Q2 FY24 revenue guidance $430-490M; GAAP gross margin 49-51%; R&D+SG&A $141-147M."],"urls":{"canonical":"https://secwatch.observer/filing/0000772406-23-000047","json":"https://secwatch.observer/filing/0000772406-23-000047.json","markdown":"https://secwatch.observer/filing/0000772406-23-000047.md","text":"https://secwatch.observer/filing/0000772406-23-000047.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/772406/000077240623000047/0000772406-23-000047-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/772406/000077240623000047/crus-20230803.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T10:10:27.179543+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":"b3e4f3d98ee316cbfdaa3ad72feb31c15e2919ce","claim":"CIRRUS LOGIC, INC. reported first quarter fiscal year 2024 ended June 24, 2023 results: revenue $317.0 million, EPS $0.28 and $0.67. Guidance initiated.","evidence_excerpt":"Reported Financial Results – First Quarter FY24 • Revenue of $317.0 million; • GAAP and non-GAAP gross margin of 50.3 percent and 50.4 percent; • GAAP operating expenses of $141.6 million and non-GAAP operating expenses of $113.8 million; and • GAAP earnings per share of $0.28 and non-GAAP earnings per share of $0.67.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/772406/000077240623000047/0000772406-23-000047-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter fiscal year 2024 ended June 24, 2023"},{"label":"Revenue","value":"$317.0 million"},{"label":"EPS","value":"$0.28 and $0.67"},{"label":"Guidance","value":"initiated"},{"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"}