Qorvo® Announces Fiscal 2024 Second Quarter Financial Results
QORVO, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(Unaudited) |
| |
| |
Three Months Ended |
| (in thousands, except percentages) |
September 30, 2023 | |
July 1, 2023 | |
October 1, 2022 |
| GAAP gross profit/margin | $ | 489,690 | | | | 44.4 | % | | $ | 229,070 | | | | 35.2 | % | | $ | 538,927 | | | | 46.5 | % |
| Amortization of intangible assets | | 25,591 | | | | 2.3 | | | | 26,489 | | | | 4.1 | | | | 27,574 | | | | 2.4 | |
| Stock-based compensation expense | | 7,481 | | | | 0.7 | | | | 4,949 | | | | 0.7 | | | | 3,704 | | | | 0.3 | |
| Restructuring related charges | | 2,482 | | | | 0.2 | | | | 18,955 | | | | 2.9 | | | | — | | | | — | |
| Acquisition and integration related costs | | 1 | | | | — | | | | 1 | | | | — | | | | 35 | | | | — | |
| Non-GAAP gross profit/margin | $ | 525,245 | | | | 47.6 | % | | $ | 279,464 | | | | 42.9 | % | | $ | 570,240 | | | | 49.2 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
