Company: CRUS
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000772406-25-000041
Chunk: 11

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 2
Chunk 11
---
 historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making 

17

judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.  Actual results may differ from these estimates under different assumptions and conditions. 

There have been no significant changes during the three and six months ended September 27, 2025, to the information provided under the headings “Critical Accounting Estimates” and “Summary of Significant Accounting Policies” included in our fiscal year 2025 Annual Report on Form 10-K for the fiscal year ended March 29, 2025.

Recently Issued Accounting Pronouncements

For a discussion of recently issued accounting pronouncements, refer to Note 2 of the Notes to the Consolidated Condensed Financial Statements. 

Results of Operations 

Our fiscal year is the 52- or 53-week period ending on the last Saturday in March.  Fiscal years 2026 and 2025 are 52-week fiscal years.    

The following table summarizes the results of our operations for the three and six months of fiscal years 2026 and 2025, respectively, as a percentage of net sales.  All percentage amounts were calculated using the underlying data in thousands, unaudited:

Three Months EndedSix Months EndedSeptember 27,September 28,September 27,September 28,2025202420252024Net sales100 %100 %100 %100 %Gross margin53 %52 %53 %52 %Research and development20 %21 %22 %24 %Selling, general and administrative7 %7 %9 %8 %Income from operations26 %24 %22 %20 %Interest income1 %2 %2 %2 %Interest expense— %— %— %— %Other income (expense)— %— %— %— %Income before income taxes27 %26 %24 %22 %Provision for income taxes4 %7 %4 %6 %Net income23 %19 %20 %16 %

Net Sales 

Net sales for the second quarter of fiscal year 2026 increased $19.1 million, or 4 percent, to $561.0 million from $541.9 million in the second quarter of fiscal year 2025.