Company: CRUS
Filing Date: 2025-05-23
Form Type: 10-K
Source: 0000772406-25-000014
Chunk: 34

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-05-23
Form: 10-K
Item: Item 1A
Chunk 34
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 some of our largest customers, and we expect to enter into new strategic arrangements of these kinds from time to time in the future.  Such arrangements can magnify several risks for us, including loss of control over the development and development timeline of jointly developed products, risks associated with the ownership of the intellectual property developed pursuant to such arrangements, and increased risk that our joint development activities may result in products that are not commercially successful or that are not available in a timely fashion.  In addition, any third party with whom we enter into a joint development, product collaboration, or technology licensing arrangement may fail to commit sufficient resources to the project, change its policies or priorities, or abandon or fail to perform its obligations related to such arrangement.  We have previously and may in the future enter into customer product arrangements that provide for exclusivity periods during which we may only sell specified products or technologies to that particular customer.  Any failure to timely develop commercially successful products through our joint development activities as a result of any of these and other challenges could have a material adverse effect on our business, results of operations, and financial condition.

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Our failure to develop and ramp new products into production in a timely manner could harm our operating results.

              Our success depends upon our ability to develop new products for new and existing customers, and to introduce these products in a timely and cost-effective manner. The development of new products involves significant investment and is highly complex. From time-to-time, we have experienced delays in developing and introducing these new products.  Successful product development and introduction depend on a number of factors including, but not limited to:- proper new product definition;- timely completion of design and testing of new products;- assisting our customers with integration of our components into their new products, including providing support from the concept stage through design, launch and production ramp;- successfully developing and implementing software necessary to integrate our products into our customers’ products;- achievement of acceptable manufacturing yields;- availability of wafer fabrication, assembly, and test capacity; and- market acceptance of our products and the products of our customers.              Both sales and/or margins may be materially affected if new product introductions are delayed, or if our products are not designed into successive generations of new or existing customers’ products.  Our failure to develop and introduce new products successfully could harm our business and operating results.              In addition, difficulties associated with adapting our technology and product design to the proprietary process technology and design rules of new foundries can lead to complications resulting in delays and/or reduced yields of our products.  Since low