Qorvo® Announces Fiscal 2024 Third Quarter Financial Results

 
QORVO, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(Unaudited)
 
  Three Months Ended
(in thousands, except percentages) December 30, 2023  September 30, 2023  December 31, 2022
GAAP gross profit/margin$387,878 36.1% $489,69044.4% $268,05136.1%
Charges associated with a long-term capacity reservation agreement 51,864 4.8       
Amortization of intangible assets 25,457 2.4   25,5912.3   27,6243.7 
Stock-based compensation expense 5,575 0.5   7,4810.7   4,9390.6 
Restructuring-related charges (250)   2,4820.2    3,600 0.5  
Acquisition and integration-related costs   1         1       28  
Non-GAAP gross profit/margin $ 470,525   43.8 %   $ 525,245 47.6 %   $ 304,242 40.9 %

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