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

Issuer:     CIRRUS LOGIC, INC. (CRUS)
CIK:        0000772406
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0000772406-24-000056
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cirrus Logic Q1 FY25 revenue $374M above guidance; EPS $0.76 GAAP, $1.12 non-GAAP
--------------------------------------------------------------------------------

- Revenue $374M, up 18% YoY, driven by stronger-than-expected smartphone shipments; above top of guidance.
- GAAP EPS $0.76, non-GAAP EPS $1.12; GAAP gross margin 50.5%, non-GAAP 50.6%.
- Began ramping custom boosted amplifier and first 22nm smart codec for new smartphone launches this fall.
- Q2 FY25 revenue guidance $490M-$550M (midpoint $520M, ~8% YoY growth); gross margin 50-52%.
- Repurchased 361K shares for $41M at avg $113.48; cash balance $744.6M; one customer ~88% of revenue.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/772406/000077240624000056/0000772406-24-000056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/772406/000077240624000056/crus-20240806.htm
  HTML page:      https://secwatch.observer/filing/0000772406-24-000056

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