Revenue Performance: Cirrus Logic reported revenue of $555.74 million, which represents a 49.46% increase year-over-year (YoY) and a 2.56% increase quarter-over-quarter (QoQ). This increase is driven by widespread adoption of its mixed-signal solutions across various sectors, including mobile and automotive industries.
Profitability Metrics: The gross profit stood at $297.79 million, yielding a gross margin of 53.58%. Operating income soared to $145.77 million, equating to an operating margin of 26.23%. Furthermore, net income reached $116.01 million, with a net profit margin of 20.87%.
Balance Sheet Health: Cirrus Logic ended the quarter with total assets of $2.36 billion, of which approximately $526.44 million is cash and cash equivalents. The company maintains a robust current ratio of 5.93, indicating strong liquidity and the ability to meet short-term obligations easily. The debt ratio is comfortably low at 6.20%, reflecting prudent debt management and minimal financial risk.
Cash Flow Analysis: Operating cash flow for the quarter was $218.59 million, contributing to a strong free cash flow of $212.13 million. Cash flow generation is well-aligned with revenue growth, further enhancing shareholder value.