Qorvo Q4 Fiscal 2025 Earnings Summary

Qorvo reported better-than-expected earnings for Q4 FY2025, with solid free cash flow, improved gross margins, and strong performance in its HPA segment, despite a year-over-year decline in overall revenue. The company beat its EPS guidance by a wide margin and is focused on operational efficiency and strategic diversification.

Financial Highlights (Q4 FY2025 vs. Q4 FY2024)
GAAP Revenue: $869.5M (▼7.6% YoY)

GAAP Gross Margin: 42.2% (▲1.6 pts)

GAAP Operating Income: $28.2M vs. $30.0M

GAAP Net Income: $31.4M vs. $2.7M

GAAP EPS (Diluted): $0.33 vs. $0.03

Non-GAAP Gross Margin: 45.9% (▲3.4 pts YoY)

Non-GAAP Operating Income: $151.8M (▲$4.6M YoY)

Non-GAAP EPS: $1.42 (▲$0.03 YoY)

Free Cash Flow: $170.7M, with $485M generated in FY2025

Cash & Equivalents: $1.02B (flat YoY)

Segment Performance (Q4 FY2025)
HPA (High Performance Analog):

Revenue: $187.9M (▲14.2% YoY)

Operating Margin: 31.1% (▲12 pts YoY)

CSG (Connectivity & Sensors):

Revenue: $101.3M (▼17.5% YoY)

Operating Loss: -$15.6M

ACG (Advanced Cellular):

Revenue: $580.3M (▼11.2% YoY)

Operating Margin: 18.9%

Fiscal Year 2025 Full-Year Results
Revenue: $3.72B (▼1.3% YoY)

GAAP Net Income: $55.6M vs. Net Loss of $70.3M in FY2024

Non-GAAP Operating Income (Q4): 17.5% of revenue

Gross Margin Expansion: Driven by product mix and cost discipline

Guidance for Q1 FY2026 (June 2025 Quarter)
Revenue: ~$775M ± $25M

Non-GAAP Gross Margin: 42% – 44%

Non-GAAP EPS: $0.50 – $0.75

Summary:
Qorvo ended fiscal 2025 on a strong note, outperforming on EPS and margins despite weaker revenue. The HPA segment emerged as a growth driver, and the company remains committed to diversification and cost control amid macroeconomic uncertainties.