CRUS FY 2024 Earnings Report — Cirrus Logic, Inc. Revenue & Financial Results | Market Cap Arena

Cirrus Logic, Inc.CRUS

FY 2024 Earnings

Reported May 24, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2024	Prior Q	FY 2023	QoQ Change	YoY Change
Revenue	$1.8B	—	$1.9B	—	-5.7%
Op. Income	$343M	—	$249M	—	37.9%
Gross Margin	51.2%	—	50.4%	—	0.8pp
Net Margin	15.3%	—	9.3%	—	6.0pp
EPS (Diluted)	$4.90	—	$3.09	—	58.6%
Free Cash Flow	$384M	—	$303M	—	26.8%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$873M
GROSS PROFIT	$916M
R&D Expenses	$426M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$144M
Other Expenses	$2M
Operating Expenses	$573M
Cost & Expenses	$1.4B
OPERATING INCOME	$343M
Interest Income	$21M
Interest Expense	$915.0K
Other Income/Expenses	$20M
INCOME BEFORE TAX	$364M
Income Tax Expense	$89M
Net Income from Continuing Ops	$275M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$275M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$275M
D&A	$48M
EBIT	$365M
EBITDA	$413M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$873M
GROSS PROFIT	$916M
R&D Expenses	$426M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$144M
Other Expenses	$2M
Operating Expenses	$573M
Cost & Expenses	$1.4B
OPERATING INCOME	$343M
Interest Income	$21M
Interest Expense	$915.0K
Other Income/Expenses	$20M
INCOME BEFORE TAX	$364M
Income Tax Expense	$89M
Net Income from Continuing Ops	$275M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$275M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$275M
D&A	$48M
EBIT	$365M
EBITDA	$413M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$275M
Depreciation & Amortization	$48M
Stock-Based Compensation	$89M
Deferred Income Tax	-$13M
Other Non-Cash Items	$4M
Change in Working Capital	$18M
OPERATING CASH FLOW	$422M
Capital Expenditure	-$38M
Acquisitions (Net)	$0
Purchases of Investments	-$162M
Sales/Maturities of Investments	$37M
Other Investing Activities	-$695.0K
NET CASH FROM INVESTING	-$163M
Net Debt Issuance	$0
Common Stock Repurchased	-$205M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	-$202M
FREE CASH FLOW	$384M
Net Change in Cash	$57M

Balance Sheet

Item	Amount
Cash & Equivalents	$503M
Short-Term Investments	$24M
Net Receivables	$162M
Inventory	$227M
Other Current Assets	$55M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$308M
Goodwill	$436M
Intangible Assets	$30M
Long-Term Investments	$173M
Tax Assets	$49M
Other Non-Current Assets	$129M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$2.2B
Account Payables	$56M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$32M
TOTAL CURRENT LIABILITIES	$186M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$94M
TOTAL NON-CURRENT LIABILITIES	$228M
TOTAL LIABILITIES	$415M
Common Stock	$53.0K
Additional Paid-In Capital	$1.8B
Retained Earnings	$59M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$0
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$2.2B
Total Debt	$155M
Net Debt	-$348M