Every material Form 8-K Cirrus Logic filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Cirrus Logic reported fiscal second-quarter 2025 revenue of $541.9 million, up 13% from a year earlier, with GAAP diluted earnings per share of $1.83 versus $1.34 a year earlier. The company guided third-quarter revenue to $480 million to $540 million, which is down six percent sequentially and down 18 percent year over year at the midpoint, so shareholders face a weaker near-term sales outlook after a strong quarter.
Q2 FY25 revenue was $541.9 million, up 45% from Q1 FY25 and up 13% from Q2 FY24
GAAP diluted EPS was $1.83 and non-GAAP diluted EPS was $2.25, compared with $1.34 and $1.80 in Q2 FY24
Q3 FY25 revenue guidance is $480 million to $540 million, and GAAP gross margin is forecast at 51% to 53%
One customer contributed approximately 90% of total revenue in Q2 FY25
Cirrus Logic reported fiscal first-quarter 2025 revenue of $374.0 million, up 18% from a year earlier, above the top of its guidance range, driven by stronger-than-expected smartphone shipments. GAAP earnings per share fell to $0.76 from $0.81 in the prior quarter but rose from $0.28 a year earlier. The company guided September-quarter revenue to $490 million to $550 million, which it said is up 39% sequentially at the midpoint.
Q1 FY25 revenue was $374.0 million, up 18% year over year and up 1% from the prior quarter, as reported.
GAAP diluted EPS was $0.76 versus $0.81 in Q4 FY24 and $0.28 in Q1 FY24; non-GAAP diluted EPS was $1.12 versus $1.24 in Q4 FY24.
Q2 FY25 revenue is expected to range from $490 million to $550 million, with GAAP gross margin of 50% to 52%.
Cash and investments ended the quarter at $744.6 million, and the company repurchased $41.0 million of stock, leaving $274.1 million in its authorization.
At its July 26, 2024 annual meeting, Cirrus Logic stockholders approved an amended and restatement of the 2018 Long Term Incentive Plan, adding 2,670,000 shares and extending the plan to July 26, 2034. Stockholders also re-elected all seven directors, ratified Ernst & Young LLP as auditor, and approved an officer exculpation charter amendment.
Amended LTIP adds 2,670,000 shares and extends the plan's expiration to July 26, 2034.
Plan amendment passed with 38,086,580 votes for and 6,375,658 against.
Officer exculpation amendment to the certificate of incorporation passed with 37,017,286 votes for and 7,443,734 against.
Cirrus Logic said director Timothy R. Dehne will not stand for reelection at the 2024 Annual Meeting on July 26, 2024, and that the board nominated William D. Mosley, CEO of Seagate Technology, to fill the seat. The company will reduce the board to seven directors effective at the annual meeting, and Dehne's decision was not tied to any disagreement with management or the board.
Timothy R. Dehne informed the company on May 17, 2024 that he will retire from the board and remain a director until the 2024 Annual Meeting on July 26, 2024
William D. Mosley, CEO of Seagate Technology since October 2017, nominated for election at the 2024 Annual Meeting
Board size will be reduced from eight to seven directors effective at the 2024 Annual Meeting
Cirrus Logic said Chief Financial Officer Venk Nathamuni will resign effective May 24, 2024, to pursue other professional opportunities outside the semiconductor industry. The Board appointed Ulf Habermann, the company's Principal Accounting Officer, as interim CFO while the company searches for a permanent successor, which matters to shareholders because it changes the company's finance leadership during the search.
Nathamuni gave notice on May 11, 2024; his resignation takes effect May 24, 2024.
The company states the departure is not the result of any disagreement with the company or its Board on operations, financial reporting, policies, or practices.
On May 14, 2024, the Board appointed Habermann as interim CFO, and he will also continue as Principal Accounting Officer.
Habermann has been with the company since February 2002; no new compensatory arrangements were entered into for his interim role.
Cirrus Logic reported fiscal fourth-quarter 2024 revenue of $371.8 million, above the top end of its guidance range, and GAAP earnings per share of $0.81 compared with a loss of $0.97 a year earlier. Revenue fell 40 percent from the prior quarter, and the company guided June quarter revenue to $290 million to $350 million, which is down 14 percent sequentially at the midpoint.
Q4 FY24 revenue of $371.8 million, down 40 percent quarter over quarter and approximately flat year over year
Q4 GAAP diluted EPS of $0.81 versus a loss of $0.97 a year earlier; non-GAAP EPS of $1.24 versus $0.92
FY24 revenue of $1.79 billion, down six percent; GAAP EPS of $4.90 versus $3.09
Q1 FY25 guidance: revenue of $290 million to $350 million and GAAP gross margin of 49 to 51 percent
Cirrus Logic reported fiscal third-quarter 2024 revenue of $619.0 million, up 5% from a year earlier, with GAAP diluted earnings per share of $2.50 versus $1.83 a year earlier. The company guided fourth-quarter revenue to $290 million to $350 million, down 48% sequentially and down 14% year over year at the midpoint, which is a sharp decline for shareholders to weigh against the quarter's results.
Q3 FY24 revenue was $619.0 million; GAAP diluted EPS was $2.50 and non-GAAP diluted EPS was $2.89, compared with $1.83 and $2.40 in Q3 FY23.
Q4 FY24 revenue guidance is $290 million to $350 million, down 48% sequentially and down 14% year over year at the midpoint.
One customer accounted for approximately 89 percent of total Q3 FY24 revenue.
The company repurchased 780,517 shares for $56.9 million in the quarter and had $365.1 million left in its repurchase authorization.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Cirrus Logic filing is on SEC EDGAR ↗. 8-K briefs of other companies →