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Cirrus Logic (CRUS) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Nov 4, 2026 · Cirrus Logic (CRUS) Q2 FY27 earnings results →

Q2 FY27 Revenue down 0% year over year to $559M · 21¢ of every $1 of revenue kept as net profit · operating margin 23.7%

Cirrus Logic made $559M in Q2 FY27 (-0.3% Y/Y): Audio Products $315M, HPMS Products $245M. Operating margin 23.7%, net earnings $115M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$559M
Year over year-0.3%
Operating margin23.7%
Net earnings$115M
Operating cash flow$50.9M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $559.5M in Q2 FY27, roughly flat year over year and up 22% from the previous quarter. Audio Products was the largest line at 56% of revenue. Audio Products lost $3.7M year over year (down 1%), 247% of the total change.

Gross margin was 53.7%, up 1.2 points from Q2 FY26. Operating profit was $132.4M, a 23.7% margin (down 2.1 points year over year). Operating expenses grew 12% against flat revenue. The fastest-growing cost line was SG&A (+13%). Net earnings were $114.7M, down 13% year over year. The effective tax rate was 19.2%.

Operating cash flow was $50.9M (down 45% year over year), 44% of net earnings. Non-cash charges added back $13.6M of depreciation and amortization and $18.3M of share-based compensation. Working capital and other items used $95.7M. Capital expenditures of $8.4M left free cash flow of $42.5M.

Quarterly history

Cirrus Logic revenue by quarterCirrus Logic revenue by quarter$424MQ4 FY25$407MQ1 FY26$561MQ2 FY26$581MQ3 FY26$449MQ4 FY26$460MQ1 FY27$559MQ2 FY27
Cirrus Logic net earnings by quarterCirrus Logic net earnings by quarter$71.3MQ4 FY25$60.7MQ1 FY26$132MQ2 FY26$140MQ3 FY26$81.8MQ4 FY26$76.9MQ1 FY27$115MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QNov 4, 2026$559M-0.3%23.7%$115M$50.9M
Q1 FY2710-QAug 5, 2026$460M+13%18.4%$76.9M$64.1M
Q4 FY2610-KMay 21, 2026$449M+6%20.1%$81.8M$151M
Q3 FY2610-QFeb 3, 2026$581M+4%26.3%$140M$291M
Q2 FY2610-QNov 4, 2025$561M+4%25.8%$132M$92.2M
Q1 FY2610-QAug 5, 2025$407M+9%17.8%$60.7M$116M
Q4 FY2510-KMay 23, 2025$424M+14%20.2%$71.3M$130M

Charts

Cirrus Logic: revenue growth, year over year and quarter over quarterCirrus Logic: revenue growth, year over year and quarter over quarterY/YQ/Q+14%Q4 FY25+9%-4%Q1 FY26+4%+38%Q2 FY26+4%+4%Q3 FY26+6%-23%Q4 FY26+13%+2%Q1 FY270%+22%Q2 FY27
Latest (Q2 FY27): Y/Y 0%, Q/Q +22%.
Cirrus Logic: where the cash came from (+) and went (−), TTM to Q2 FY27Cirrus Logic: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$557MBuybacks−$300MCash drawn (+) / kept (−)−$127MOther investing−$61.7MTaxes on employees’ shares−$39.7MCapital spending−$31.0MShares issued$3.9MOther financing−$2.1M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Cirrus Logic: profit against cash, quarter by quarterCirrus Logic: profit against cash, quarter by quarterNet incomeOperating cash flow$116M$219MQ3 FY25$71.3M$130MQ4 FY25$60.7M$116MQ1 FY26$132M$92.2MQ2 FY26$140M$291MQ3 FY26$81.8M$151MQ4 FY26$76.9M$64.1MQ1 FY27$115M$50.9MQ2 FY27
Latest (Q2 FY27): Net income $115M, Operating cash flow $50.9M.
Cirrus Logic: diluted shares by fiscal yearCirrus Logic: diluted shares by fiscal year60MFY2159MFY2257MFY2356MFY2455MFY2553MFY26
-12.1% since FY21: buybacks shrank the count.
Cirrus Logic in its industry: growth against margin (80 companies, SIC 3674)Cirrus Logic in its industry: growth against margin (80 companies, SIC 3674)revenue growth, year over year →↑ operating marginmedian +36%median 11%NVDAMUAVGOINTCAMDAMATTXNADINXPIMRVLAMKRONMCHPQARMFSLRMPWRNXTSWKSQorvo, Inc.UCTTALABPENGDIODCRDOVIAVMTSIOSISSMTCKLICARRYICHRSEDGSITMSYNAENPHLSCCIPGPFORMALGMAAOITESLABRMBSMXLPLABSHLSCBRSAOSLSkyWater Technology, LLCWOLFPOWINLSTAMBALASRAXTIINDIMXAMBQFTCIAIPTYGOLPTHMRAMNVTSKOPNBZAIGUERLEDSGSITNVECSODIQUIKPRSOGCTSMOBXALMUASTIIPWRCRUS (0%, 24%)
Semiconductors & Related Devices; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About Cirrus Logic

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. We were incorporated in California in 1984, became a public company in 1989 and were reincorporated in the State of Delaware in February 1999. Our primary facility, which houses engineering, sales and marketing, and administrative functions, is located in Austin, Texas. We also have offices in various other locations in the United States, United Kingdom, Taiwan, the People’s Republic of China, South Korea, Japan, and Singapore. Our common stock, which has been publicly traded since 1989, is listed on the NASDAQ's Global Select Market under the symbol CRUS.

In its own words, from its 10-K, filed May 21, 2026.

Cirrus Logic against its Semiconductors & Related Devices peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -0.3% against the peers' median +40%. Operating margin: 23.7% against the peers' median 40.1%.

CompanyQuarterRevenueY/YOp. margin
CRUS Cirrus LogicQ2 FY27$559M-0.3%23.7%
NVDA NVIDIAQ2 FY27$96.2B+106%66.2%
MU Micron TechnologyQ4 FY26$54.2B+379%80.7%
AVGO BroadcomQ3 FY26$29.6B+86%53.9%
INTC IntelQ3 2026$16.5B+21%15.3%
AMD Advanced Micro DevicesQ3 2026$13.4B+45%21.2%
AMAT Applied MaterialsQ3 FY26$9.1B+25%33.7%
TXN Texas InstrumentsQ3 2026$6.1B+28%47.5%
ADI Analog DevicesQ3 FY26$4.0B+40%40.1%

Source: Cirrus Logic 10-Q on SEC EDGAR · CIK 772406 · Semiconductors & Related Devices

Guidance and outlook

Cirrus Logic Revenue: guidance against what was reportedCirrus Logic Revenue: guidance against what was reportedguided rangereported (above / within / below)Q4 FY25$424MQ1 FY26$407MQ2 FY26$561MQ3 FY26$581MQ4 FY26$449MQ1 FY27$460MQ2 FY27$559MQ3 FY27
Met or beat 7 of 7 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Cirrus Logic GAAP gross margin: guidance against what was reportedCirrus Logic GAAP gross margin: guidance against what was reportedguided rangereported (above / within / below)Q4 FY2553.4%Q1 FY2652.6%Q2 FY2652.5%Q3 FY2653.1%Q4 FY2653.0%Q1 FY2752.6%Q2 FY2753.7%Q3 FY27
Met or beat 7 of 7 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Cirrus Logic: what its forward-looking statements are about (10-Q filed 2026-11-04)Cirrus Logic: what its forward-looking statements are about (10-Q filed 2026-11-04)Demand2
2 statements; tone +0.50 (−1 all cautious, +1 all confident); 1 hedged.
Cirrus Logic: outlook statements against the filing beforeCirrus Logic: outlook statements against the filing beforeConfident1

13F: who owns CRUS and who is buying

Largest holders of CRUS (13F)Largest holders of CRUS (13F)BlackRock$841MVanguard Group$768MVanguard Portfolio Management LLC$508MVanguard Capital Management LLC$340MState Street$322MFuller & Thaler Asset Management$253MGeode Capital Management, LLC$225MDimensional Fund Advisors LP$197MEarnest Partners LLC$188MBank of America$168M
Funds' net buying of CRUS by quarter (13F)Funds' net buying of CRUS by quarter (13F)$7.1M2024-09−$198M2024-12−$454M2025-03$18.1M2025-06−$155M2025-09$405M2025-12−$211M2026-03$188M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CRUS

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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中文版：Cirrus Logic（CRUS）财报

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