EarningsQ1 2027 Earnings Report
MX:CRUS Q1 2027 EPS Results
Actual EPS$33.42
Consensus EPS$32.96
Beat/MissBeat by +$0.45
One Year Ago EPS$27.43
MX:CRUS Q1 2027 Revenue Results
Actual Revenue$8.35B
Expected Revenue$8.36B
Beat/MissMissed by -$10.93M
YoY Revenue Growth+12.88%
Earnings Announcement Details
QuarterQ1 2027
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
MX:CRUS Upcoming Earnings
Cirrus Logic's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q1 2027 Earnings Call Audio
MX:CRUS Q1 2027 Earnings Call
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Q1 2027 Earnings Slide Deck
Q1 2027 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operational and financial highlights: record revenue and non‑GAAP EPS, healthy margins, a $1.2B cash position with no debt, active buybacks, a robust HPMS product pipeline, new product tape‑outs for smart meters, and a secured wafer supply agreement with GlobalFoundries. Offsetting these positives were timing headwinds in the PC business (supply constraints, memory shortages and OEM delays), sequential margin pressure related to anticipated pricing reductions and supply costs, a sequential inventory build (~110 days), and near‑term increases in OpEx as the company invests in R&D and supply‑chain tooling. Management framed many lowlights as timing or investment‑related rather than structural problems and provided constructive guidance for the next quarter. Overall, the positives — record results, strong cash and pipeline, and strategic supply agreements — appear to materially outweigh the transitory and timing challenges discussed.Company Guidance
Record Quarterly Revenue and Year-over-Year Growth
Reported record Q1 (June quarter) revenue of $460.0M, up 2% sequentially and 13% year-over-year, in line with the midpoint of guidance.
Record Non-GAAP Earnings Per Share
Non-GAAP net income of $96.1M produced a record June-quarter non-GAAP EPS of $1.84 (GAAP EPS was $1.47).
Strong Profitability and Margin Profile
Non-GAAP gross profit was $242.1M with a non-GAAP gross margin of 52.7%. Non-GAAP operating income was $106.7M, representing 23.2% of revenue.
Healthy Balance Sheet and Cash Generation
Ended the quarter with $1.2B in cash and investments (up $13.5M sequentially), no debt, and Q1 cash from operations of $64.1M. Trailing 12-month cash from operations was $598.6M with a trailing non-GAAP free cash flow margin of 28%.
Active Share Repurchase Program
Used $34.5M in Q1 to repurchase ~211k shares at an average $163.43 and subsequently used $50.5M to repurchase ~359k shares at $140.53; $239.6M remains on the repurchase authorization.
Upgraded Product Wins and Pipeline Strength
Continued strong demand for custom boosted amplifiers and smart codecs in smartphones; company describes its HPMS pipeline as among the strongest in its history with active camera, battery, and power programs and multi‑generation design momentum.
Expansion into New Markets and New Product Tape-Outs
Taped out a new family of high‑performance analog front‑end components targeting smart meters (sampling expected in the September quarter) with potential adjacent applications (energy storage, data center DC metrology, EV charging, grid monitoring).
Supply and Manufacturing Visibility Secured
Signed a capacity reservation and wafer supply agreement with GlobalFoundries for calendar years 2027 and 2028 and are collaborating on next‑generation process technologies, including progress toward manufacturing at GF's Malta, NY site.
Confident Near-Term Outlook
Q2 revenue guidance of $510M–$570M with GAAP gross margin expected at 52%–54% (noting a temporary Q2 benefit from previously purchased wafers) and expected non‑GAAP OpEx of $140M–$146M.
PC and RTX Spark Design Momentum
Advanced engagements for low‑power smart codec voice solutions for AI/voice-enabled PCs and expected design inclusion on upcoming NVIDIA RTX Spark-based PCs shipping later this year.
MX:CRUS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed