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

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 2
Chunk 10
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 see “Item 1A - Risk Factors” in our 2025 Annual Report on Form 10-K filed with the Commission on May 23, 2025, and in “Part II, Item 1A - Risk Factors” within this Quarterly Report on Form 10-Q.  Readers should carefully review these risk factors, as well as those identified in other documents filed by us with the Commission. 

Overview

Cirrus Logic, Inc. (“Cirrus Logic,” “We,” “Us,” “Our,” or the “Company”) is a leader in low-power, high-precision mixed-signal processing solutions that create innovative user experiences for the world’s top mobile and consumer applications.

The Company remains committed to our three-pronged strategy for growing our business: first, maintaining our leadership position in smartphone audio; second, increasing HPMS content in smartphones; and third, leveraging our strength in audio and HPMS to expand into additional applications and markets with new and existing components.  During the second quarter of fiscal year 2026, we continued to execute on these strategic initiatives.  We were delighted to see multiple smartphone customers introduce their latest generation devices featuring our audio and HPMS components.  Outside of smartphones, we continued to execute on our plan to grow market share in the PC market.  Progress in this space included securing our first mainstream consumer laptop design, expanding our collaboration with leading System-on-a-Chip (SoC) vendors, and developing new products with superior voice and audio capture capabilities.  Additionally, we continue to focus on our general market business.  During the quarter, we gained design momentum with customers on our latest-generation ADCs, DACs, and ultra-high-performance audio codec.  We also received positive initial feedback on our family of analog front-end components targeting imaging applications and saw increased engagement on our latest timing product family.  Looking forward, we are optimistic about the opportunities ahead of us as we continue to seek to leverage our mixed-signal design and signal processing expertise to diversify our product portfolio and expand our addressable market.    

Critical Accounting Policies and Estimates

Our discussion and analysis of the Company’s financial condition and results of operations are based upon the unaudited consolidated condensed financial statements included in this report, which have been prepared in accordance with U.S. GAAP.  The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts.  We evaluate the estimates on an ongoing basis.  We base these estimates on