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Qorvo earnings and revenue breakdown
Latest: Q1 FY27 · 10-Q filed Jul 28, 2026
Q1 FY27 Revenue down 4% year over year to $785M · 11¢ of every $1 of revenue kept as net profit · operating margin 12.3%
Qorvo made $785M in Q1 FY27 (-4% Y/Y). Operating margin 12.3%, net earnings $85.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Jul 28, 2026.
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What changed this quarter
Revenue was $784.8M in Q1 FY27, down 4% year over year and down 3% from the previous quarter.
Gross margin was 51.1%, up 10.6 points from Q1 FY26. Operating profit was $96.8M, a 12.3% margin (up 8.7 points year over year). Operating expenses grew 1% against a revenue fall of 4%. The fastest-growing cost line was Other operating costs (+186%). Net earnings were $85.8M, up 235% year over year. The effective tax rate was 14.6%.
Operating cash flow was $139.5M (down 24% year over year), 163% of net earnings. Non-cash charges added back $50.1M of depreciation and amortization and $34.4M of share-based compensation. Working capital and other items used $30.9M. After purchases of property and equipment ($24.1M), free cash flow as the company reports it was $115.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q1 FY27 | 10-Q | Jul 28, 2026 | $785M | -4% | 12.3% | $85.8M | $139M |
| Q4 FY26 | 10-K | May 8, 2026 | $808M | -7% | 3.9% | $29.7M | $276M |
| Q3 FY26 | 10-Q | Jan 28, 2026 | $993M | +8% | 19.4% | $164M | $265M |
| Q2 FY26 | 10-Q | Nov 3, 2025 | $1.1B | +1% | 14.9% | $120M | $84.0M |
| Q1 FY26 | 10-Q | Jul 30, 2025 | $819M | -8% | 3.7% | $25.6M | $183M |
| Q4 FY25 | 10-K | May 19, 2025 | $869M | -8% | 3.2% | $31.4M | $199M |
| Q3 FY25 | 10-Q | Jan 29, 2025 | $916M | -15% | 5.8% | $41.3M | $214M |
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Customers and suppliers named in filings
Sells to
- AAPL — 50% of its revenue · Stated in 10-K (sentence) · source
- Samsung Electronics Co., Ltd — 10% of its revenue · Stated in 10-K (sentence) · source
- Samsung — 10% of its revenue · Stated in 10-K (sentence) · source
About Qorvo
Qorvo ® is a global leader in the development and commercialization of technologies and products for wireless, wired and power markets. We are organized into three operating and reportable segments that align our technologies and applications with customers and end markets: High Performance Analog ("HPA"), Connectivity and Sensors Group ("CSG") and Advanced Cellular Group ("ACG").
In its own words, from its 10-K, filed May 8, 2026.
Qorvo against its Semiconductors & Related Devices peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -4% against the peers' median +40%. Operating margin: 12.3% against the peers' median 40.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| Qorvo | Q1 FY27 | $785M | -4% | 12.3% |
| NVDA NVIDIA | Q2 FY27 | $96.2B | +106% | 66.2% |
| MU Micron Technology | Q4 FY26 | $54.2B | +379% | 80.7% |
| AVGO Broadcom | Q3 FY26 | $29.6B | +86% | 53.9% |
| INTC Intel | Q3 2026 | $16.5B | +21% | 15.3% |
| AMD Advanced Micro Devices | Q3 2026 | $13.4B | +45% | 21.2% |
| AMAT Applied Materials | Q3 FY26 | $9.1B | +25% | 33.7% |
| TXN Texas Instruments | Q3 2026 | $6.1B | +28% | 47.5% |
| ADI Analog Devices | Q3 FY26 | $4.0B | +40% | 40.1% |
Source: Qorvo 10-Q on SEC EDGAR · CIK 1604778 · Semiconductors & Related Devices