CRUS FY 2022 Earnings Report — Cirrus Logic, Inc. Revenue & Financial Results | Market Cap Arena

Cirrus Logic, Inc.CRUS

FY 2022 Earnings

Reported May 20, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$1.8B	—	$1.4B	—	30.1%
Op. Income	$366M	—	$237M	—	54.5%
Gross Margin	51.8%	—	51.7%	—	0.2pp
Net Margin	18.3%	—	15.9%	—	2.4pp
EPS (Diluted)	$5.52	—	$3.62	—	52.5%
Free Cash Flow	$95M	—	$331M	—	-71.4%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$858M
GROSS PROFIT	$924M
R&D Expenses	$406M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$151M
Other Expenses	$0
Operating Expenses	$557M
Cost & Expenses	$1.4B
OPERATING INCOME	$366M
Interest Income	$2M
Interest Expense	$948.0K
Other Income/Expenses	$2M
INCOME BEFORE TAX	$369M
Income Tax Expense	$42M
Net Income from Continuing Ops	$326M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$326M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$326M
D&A	$62M
EBIT	$370M
EBITDA	$432M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$858M
GROSS PROFIT	$924M
R&D Expenses	$406M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$151M
Other Expenses	$0
Operating Expenses	$557M
Cost & Expenses	$1.4B
OPERATING INCOME	$366M
Interest Income	$2M
Interest Expense	$948.0K
Other Income/Expenses	$2M
INCOME BEFORE TAX	$369M
Income Tax Expense	$42M
Net Income from Continuing Ops	$326M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$326M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$326M
D&A	$62M
EBIT	$370M
EBITDA	$432M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$326M
Depreciation & Amortization	$62M
Stock-Based Compensation	$66M
Deferred Income Tax	-$15M
Other Non-Cash Items	$1M
Change in Working Capital	-$316M
OPERATING CASH FLOW	$125M
Capital Expenditure	-$30M
Acquisitions (Net)	-$277M
Purchases of Investments	-$83M
Sales/Maturities of Investments	$372M
Other Investing Activities	-$4M
NET CASH FROM INVESTING	-$18M
Net Debt Issuance	$0
Common Stock Repurchased	-$190M
Common Dividends Paid	$0
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$179M
FREE CASH FLOW	$95M
Net Change in Cash	-$72M

Balance Sheet

Item	Amount
Cash & Equivalents	$370M
Short-Term Investments	$11M
Net Receivables	$240M
Inventory	$138M
Other Current Assets	$40M
TOTAL CURRENT ASSETS	$840M
PP&E (Net)	$328M
Goodwill	$436M
Intangible Assets	$158M
Long-Term Investments	$64M
Tax Assets	$11M
Other Non-Current Assets	$287M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.1B
Account Payables	$115M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$53M
TOTAL CURRENT LIABILITIES	$265M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$96M
TOTAL NON-CURRENT LIABILITIES	$259M
TOTAL LIABILITIES	$524M
Common Stock	$57.0K
Additional Paid-In Capital	$1.6B
Retained Earnings	$23M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$178M
Net Debt	-$192M