secwatch.observer — SEC 8-K summary
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Issuer:     CIRRUS LOGIC, INC. (CRUS)
CIK:        0000772406
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0000772406-24-000066
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 reports Q2 FY25 record revenue $541.9M; GAAP EPS $1.83, non-GAAP $2.25; guides Q3 rev $480-540M
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- Revenue $541.9M (+13% YoY, +45% QoQ), near top of guidance range; record September quarter.
- GAAP EPS $1.83 vs $1.34 YoY; non-GAAP EPS $2.25 vs $1.80 YoY; gross margin 52.2% (+90bps YoY).
- Q3 FY25 guidance: revenue $480-540M (down ~6% seq, down 18% YoY at midpoint); GM 51-53%.
- Began shipping next-gen custom boosted amplifier and 22nm smart codec in new smartphones; secured first high-volume PC codec design win; shipped first laptop power product to tier-1 customers.
- Repurchased $50M in shares at avg $140.26; cash $706.6M; one customer ~90% of revenue.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/772406/000077240624000066/0000772406-24-000066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/772406/000077240624000066/crus-20241104.htm
  HTML page:      https://secwatch.observer/filing/0000772406-24-000066

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