Cirrus Logic, Inc. reported a net sales increase of 5% for the fiscal year ending March 28, 2026, reaching $2.00 billion, compared to $1.90 billion in the previous fiscal year. The growth was driven by a 2% rise in audio product sales, totaling $1.16 billion, and a 10% increase in high-performance mixed-signal (HPMS) product sales, which reached $837.4 million. The company achieved a gross margin of 52.8%, slightly up from 52.5% in fiscal 2025, attributed to a more favorable product mix. Net income for the year was reported at $414.4 million, reflecting a significant increase from $331.5 million in the prior year.

In terms of operational changes, Cirrus Logic's employee count rose to 1,668, up from 1,660 the previous year. The company continues to rely heavily on a limited customer base, with its ten largest customers accounting for approximately 96% of net sales, including Apple Inc., which represented 91% of total sales. The company has also made strides in expanding its product offerings, particularly in the smartphone market, where it has introduced new components such as a custom boosted amplifier and a 22-nanometer smart codec.

Strategically, Cirrus Logic has focused on diversifying its applications beyond smartphones, achieving notable growth in the PC segment and developing new product families for professional audio, automotive, and industrial markets. The company has also engaged in a Capacity Reservation Agreement with GlobalFoundries to secure wafer supply through 2026, which is expected to enhance its manufacturing capabilities and mitigate supply chain risks.

Looking ahead, Cirrus Logic anticipates continued growth driven by its investments in research and development, particularly in next-generation technologies and applications. The company plans to increase R&D spending in fiscal year 2027, reflecting its commitment to innovation and market expansion. However, it remains cautious about potential risks, including reliance on key customers, fluctuations in the consumer electronics market, and geopolitical factors that could impact its supply chain and operational efficiency.

About CIRRUS LOGIC, INC.

Cirrus Logic, Inc. designs and supplies low-power, high-precision mixed-signal processing solutions, primarily for mobile and consumer electronics. Its product portfolio includes audio components—amplifiers, codecs, smart codecs, and digital signal processors—and high-performance mixed-signal (HPMS) products like camera controllers, haptics, sensing, and power ICs. Serving leading global electronics manufacturers, Cirrus Logic operates a fabless model, focusing on innovation, custom integration, and strong engineering partnerships.

This description was generated via AI from an annual report. Updated 10 months ago.

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