$QRVO

Qorvo, Inc.

CIK:0001604778|SEC Filings

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Income Statement [Abstract]
Revenues	$ 784,795	$ 818,778
Cost of goods sold	383,827	486,976
Gross profit	400,968	331,802
Operating Expenses [Abstract]
Research and Development Expense	172,427	179,244
Selling and Marketing Expense	48,792	56,891
General and Administrative Expense	41,337	50,998
Other Cost and Expense, Operating	41,642	14,583
Total operating expenses	304,198	301,716
Operating Income, Total	96,770	30,086
Interest expense	15,852	18,787
Other income, net	19,608	20,386
Income before income taxes	100,526	31,685
Income tax expense	14,724	6,091
Net income	$ 85,802	$ 25,594
Earnings Per Share [Abstract]
Basic	$ 0.97	$ 0.28
Diluted	$ 0.96	$ 0.27
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Basic	88,035	92,915
Diluted	89,360	93,770

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Cash flows from operating activities:
Net income	$ 85,802	$ 25,594
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	34,912	39,466
Amortization of intangible assets	15,225	27,994
Deferred income taxes	(8,758)	(3,756)
Share-based Payment Arrangement, Noncash Expense	34,411	42,475
Other, net	2,666	(1,804)
Changes in operating assets and liabilities:
Increase (Decrease) in Accounts Receivable	(2,941)	(58,205)
Increase (Decrease) in Inventories	39,000	(4,725)
Increase (Decrease) in Prepaid Expense and Other Assets	(15,538)	(2,389)
Accounts payable and accrued liabilities	(13,007)	(2,881)
Income taxes payable and receivable	4,672	(14,193)
Other liabilities	4,091	4,731
Net cash provided by operating activities	139,493	182,945
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment	24,144	37,543
Other investing activities	1,298	4,212
Net cash used in investing activities	(22,846)	(33,331)
Cash flows from financing activities:
Repurchase of common stock, including transaction costs	0	(49,906)
Proceeds from the issuance of common stock	8,731	9,833
Tax withholding paid on behalf of employees for restricted stock units	(10,272)	(7,290)
Purchase (proceeds) for inventory supply commitment	(139)	45,599
Other financing activities	(4,787)	(5,171)
Net cash used in financing activities	(6,467)	(6,935)
Effect of exchange rate changes on cash and cash equivalents	(252)	1,623
Net increase in cash and cash equivalents	109,928	144,302
Cash and cash equivalents at the beginning of the period	1,219,015	1,021,176
Cash and cash equivalents at the end of the period	1,328,943	1,165,478
Capital expenditures included in liabilities	$ 18,172	$ 54,666

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 27, 2026	Mar. 28, 2026
Current assets:
Cash and cash equivalents	$ 1,328,943	$ 1,219,015
Accounts receivable, net of allowance of $250 and $301 as of June 27, 2026 and March 28, 2026, respectively	379,545	382,509
Inventories	592,492	553,718
Prepaid expenses	38,857	36,724
Other Receivables, Net, Current	16,384	16,172
Other current assets	80,501	98,176
Total current assets	2,436,722	2,306,314
Property and equipment, net of accumulated depreciation of $1,799,737 and $1,781,169 as of June 27, 2026 and March 28, 2026, respectively	680,308	710,392
Goodwill	2,353,226	2,353,226
Intangible assets, net	106,286	121,506
Long-term investments	14,759	16,295
Other non-current assets	348,155	317,857
Total assets	5,939,456	5,825,590
Current liabilities:
Accounts payable	253,233	242,870
Accrued liabilities	213,593	248,160
Other current liabilities	220,861	221,727
Total current liabilities	687,687	712,757
Long-Term Debt, Excluding Current Maturities	1,549,138	1,549,154
Other long-term liabilities	230,706	219,380
Total liabilities	2,467,531	2,481,291
Stockholders’ equity:
Preferred stock, $0.0001 par value; 5,000 shares authorized; no shares issued and outstanding	0	0
Common stock and additional paid-in capital, $0.0001 par value; 405,000 shares authorized; 88,218 and 87,741 shares issued and outstanding at June 27, 2026 and March 28, 2026, respectively	3,344,678	3,301,450
Accumulated other comprehensive income	2,657	4,061
Retained Earnings	124,590	38,788
Total stockholders’ equity	3,471,925	3,344,299
Total liabilities and stockholders’ equity	$ 5,939,456	$ 5,825,590