"We delivered revenue of $407.3 million, above the top end of our guidance range, driven primarily by strong end demand for smartphones incorporating our silicon."
— John M. Forsyth
03Detailed Report
CRUS
Cirrus Logic Inc
Period
Q1 2026
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 12, 2026
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Executive Summary
In the first quarter of fiscal 2026, Cirrus Logic Inc reported impressive revenue of $407.3 million, exceeding the top end of the guidance range, driven by strong smartphone demand. This marks a 9% year-over-year growth, fueled by the launch of new generation products and higher unit volumes. However, the company experienced a 4% sequential decline due to lower smartphone unit volumes compared to the previous quarter. Management is optimistic about continued growth in the upcoming quarter, anticipating revenues to reach between $510 million and $570 million, positioning Cirrus Logic to capitalize on seasonality shifts and strong demand trends in the market.
Key Performance Indicators
Revenue
Increasing
407.27M
QoQ: -4.05% | YoY: 8.89%
Gross Profit
Increasing
214.03M
52.55% margin
QoQ: -5.60% | YoY: 13.29%
Operating Income
Increasing
72.39M
QoQ: -15.77% | YoY: 54.71%
Net Income
Increasing
60.70M
QoQ: -14.83% | YoY: 44.19%
EPS
Increasing
1.17
QoQ: -13.33% | YoY: 48.10%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue for Q1 2026 stood at $407.3 million, a 9% increase year-over-year, indicating a solid recovery trajectory. Gross profit reached $214 million with a gross margin of 52.6%. Operating income was recorded at approximately $94.9 million, translating to an operating margin of 23.3%. Net income finished at $80.3 million with earnings per share (EPS) of $1.51. The balance sheet remained robust, with total assets of $2.29 billion and no debt outstanding, reflecting strong liquidity position with $847.8 million in cash and investments. Trends show a favorable product mix contributing to margin improvements compared to the previous year but costs are expected to stabilize under typical pricing conditions.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
407.27M
8.89%
-4.05%
Gross Profit
214.03M
13.29%
-5.60%
Operating Income
72.39M
54.71%
-15.77%
Net Income
60.70M
44.19%
-14.83%
EPS
1.17
48.10%
-13.33%
Key Financial Ratios
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