Cirrus Logic Reports 4% Revenue Growth to $560.96 Million in Q2 FY 2026

Cirrus Logic, Inc. reported a solid financial performance for the second quarter of fiscal year 2026, with net sales reaching $560.96 million, a 4% increase from $541.86 million in the same quarter of the previous year. For the first six months, net sales totaled $968.23 million, up 6% from $915.88 million year-over-year. The company’s gross profit for the quarter was $294.37 million, resulting in a gross margin of 52.5%, slightly up from 52.2% in the prior year. Net income for the quarter was $131.60 million, translating to diluted earnings per share of $2.48, compared to $1.83 in the same quarter last year.

The financial results reflect a notable increase in accounts receivable, which rose to $355.40 million from $216.01 million, attributed to the timing of collections and billings. Additionally, inventories decreased to $236.41 million from $299.09 million, indicating improved inventory management. The company’s total current assets increased to $1.37 billion, up from $1.24 billion, while total assets rose to $2.43 billion from $2.33 billion. Stockholders' equity also saw an increase, reaching $2.04 billion compared to $1.95 billion in the previous period.

Cirrus Logic has continued to execute its strategic initiatives, focusing on maintaining its leadership in smartphone audio and increasing high-performance mixed-signal (HPMS) content in smartphones. The company reported successful product launches, including new audio and HPMS components in multiple smartphone models. Furthermore, Cirrus Logic is expanding its market share in the PC sector, having secured its first mainstream consumer laptop design and enhanced collaborations with leading System-on-a-Chip vendors.

Operationally, the company reported that its ten largest customers accounted for approximately 97% of net sales, with Apple Inc. alone representing about 90% of total sales for the quarter. The geographic distribution of sales showed that international sales comprised nearly all of the company’s revenue, with significant contributions from China and the rest of the world. The company’s employee headcount remained stable, reflecting its focus on optimizing operational efficiency.

Looking ahead, Cirrus Logic expressed optimism about future growth opportunities, particularly in diversifying its product portfolio and expanding into new markets. The company plans to leverage its expertise in mixed-signal design and signal processing to enhance its offerings and address a broader range of applications. The management remains committed to monitoring market conditions and adjusting strategies as necessary to sustain growth and profitability.