$CRUS

CIRRUS LOGIC INC

CIK:0000772406|SEC Filings

Consolidated Condensed Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Income Statement [Abstract]
Net sales	$ 459,723	$ 407,272
Cost of sales	217,868	193,242
Gross profit	241,855	214,030
Operating expenses
Research and development	115,013	102,892
Selling, general and administrative	42,406	38,744
Total operating expenses	157,419	141,636
Income from operations	84,436	72,394
Interest income	10,406	8,840
Interest expense	(324)	(218)
Other expense	(363)	(388)
Income before income taxes	94,155	80,628
Provision for income taxes	17,304	19,931
Net income	$ 76,851	$ 60,697
Basic earnings per share (in dollars per share)	$ 1.52	$ 1.17
Diluted earnings per share (in dollars per share)	$ 1.47	$ 1.14
Basic weighted average common shares outstanding (in shares)	50,550	51,727
Diluted weighted average common shares outstanding (in shares)	52,353	53,319

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Cash flows from operating activities:
Net income	$ 76,851	$ 60,697
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	13,156	13,173
Stock-based compensation expense	20,589	20,809
Deferred income taxes	(4,600)	(5,938)
Gain on retirement or write-off of long-lived assets	(67)	0
Other non-cash adjustments	152	(16)
Net change in operating assets and liabilities:
Accounts receivable	(33,822)	1,924
Inventories	(21,875)	20,108
Prepaid wafers	14,733	6,138
Other assets	3,723	2,014
Accounts payable and other accrued liabilities	(7,976)	(8,806)
Income taxes payable	3,264	6,028
Net cash provided by operating activities	64,128	116,131
Cash flows from investing activities:
Maturities and sales of available-for-sale marketable securities	47,044	22,990
Purchases of available-for-sale marketable securities	(50,930)	(26,435)
Purchases of property, equipment and software	(15,143)	(2,638)
Investments in technology	(361)	(132)
Net cash used in investing activities	(19,390)	(6,215)
Cash flows from financing activities:
Debt issuance costs	(2,057)	0
Net proceeds from the issuance of common stock	1,329	382
Repurchase of stock to satisfy employee tax withholding obligations	(2,774)	(1,049)
Repurchase and retirement of common stock	(31,500)	(99,999)
Net cash used in financing activities	(35,002)	(100,666)
Net increase in cash and cash equivalents	9,736	9,250
Cash and cash equivalents at beginning of period	800,930	539,620
Cash and cash equivalents at end of period	$ 810,666	$ 548,870

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 27, 2026	Mar. 28, 2026
Current assets:
Cash and cash equivalents	$ 810,666	$ 800,930
Marketable securities	80,596	86,697
Accounts receivable, net	253,971	220,149
Inventories	262,746	240,871
Prepaid assets	44,449	47,587
Prepaid wafers	0	14,733
Other current assets	21,040	22,741
Total current assets	1,473,468	1,433,708
Long-term marketable securities	276,056	266,160
Right-of-use lease assets	117,066	120,676
Property and equipment, net	149,845	143,975
Intangibles, net	19,168	20,727
Goodwill	435,936	435,936
Deferred tax assets	54,443	49,824
Other assets	34,298	18,368
Total assets	2,560,280	2,489,374
Current liabilities:
Accounts payable	78,090	80,645
Accrued salaries and benefits	44,182	52,723
Software license agreements	22,091	22,229
Current lease liabilities	20,761	19,872
Other accrued liabilities	29,176	19,187
Total current liabilities	194,300	194,656
Long-term liabilities:
Non-current lease liabilities	109,703	114,105
Non-current income taxes	47,320	46,721
Software license agreements	19,826	5,896
Total long-term liabilities	176,849	166,722
Stockholders' equity:
Capital stock	1,967,875	1,945,958
Accumulated earnings	224,213	184,881
Accumulated other comprehensive loss	(2,957)	(2,843)
Total stockholders' equity	2,189,131	2,127,996
Total liabilities and stockholders' equity	$ 2,560,280	$ 2,489,374