We continue to execute and leverage the breadth of our cellular product portfolio to support strong demand from our largest customer.
— Bob Bruggeworth
03Detailed Report
QRVO
Qorvo Inc
Period
Q1 2026
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 14, 2026
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Executive Summary
In Q1 2026, Qorvo Inc delivered robust financial performance with revenues reaching $818.8 million, although it reflected a 7.66% year-over-year decline and a 5.83% decrease quarter-over-quarter. The company recorded a non-GAAP gross margin of 44% and diluted EPS of $0.92, exceeding management's guidance, driven by strategic cost management and product mix enhancement. Key growth areas include defense, aerospace, and ultra-wideband technologies, while continuing to mitigate exposure to low-margin Android markets. The company is well-positioned to leverage rising defense spending and strong demand across various technology applications, with a positive outlook for fiscal Q2 2026.
Despite a decline in revenue, the notable increase in gross margin underscores Qorvo's successful cost reduction strategies and high-value product expansion. Management highlighted improvements driven by exiting low-margin business segments and enhancing manufacturing efficiency. The year-over-year increase in net income despite the revenue drop illustrates the effectiveness of these strategic moves. Overall financial health remains strong with significant cash reserves to sustain operations and investments.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
818.78M
-7.66%
-5.83%
Gross Profit
331.80M
-0.15%
-15.73%
Operating Income
30.09M
553.19%
6.61%
Net Income
25.59M
6 082.13%
-18.40%
EPS
0.28
6 411.63%
-17.65%
Key Financial Ratios
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