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Debt offeringSEC filing
Qorvo enters supplemental indentures amending senior notes covenants in connection with Skyworks merger exchange offers
Qorvo, Inc. entered into third supplemental indenture for the 4.375% Senior Notes due 2029 and first supplemental indenture for the 3.375% Senior Notes due 2031, both dated June 11, 2026, in connection with Skyworks Solutions' exchange offers for the Company's outstanding notes. Skyworks is offering to exchange up to $850 million aggregate principal amount of new 4.375% Senior Notes due 2029 for Qorvo's 2029 Company Notes and up to $700 million aggregate principal amount of new 3.375% Senior Notes due 2031 for Q...
Qorvo Approves FY2027 Performance-Based Restricted Stock Unit Awards for Named Executive Officers
On June 4, 2026, the Compensation Committee of Qorvo, Inc. approved performance-based restricted stock unit awards for fiscal year 2027 for five named executive officers, with 50% of target value tied to Non-GAAP operating income objectives over fiscal years 2027-2029, 25% tied to gross margin objectives over the same period, and 25% tied to revenue objectives for fiscal year 2029 only. The committee also approved a separate retention award for Philip J. Chesley, Senior Vice President and President of High Perfo...
QRVO filed its 10-K; the most relevant disclosure change is expanded Proposed mergers: Added comprehensive disclosure about proposed mergers with Skyworks, including merger agreement terms, stockholder approval status, FTC review status, termination fees, and risk factors specific to the transaction. Customer concentration: Apple Inc. represented 50% of revenue; Samsung Electronics Co., Ltd. represented 10% of revenue.
Qorvo Reports Q4 FY2026 Results; Discontinues Forward-Looking Guidance Due to Pending Skyworks Transaction
Qorvo reported Q4 fiscal 2026 revenue of $808.3 million, a 7.0% year-over-year decline from $869.5 million in the prior-year quarter. Non-GAAP diluted EPS of $1.69 beat the prior-year quarter's $1.42 by $0.27, while non-GAAP operating income increased to $190.2 million from $151.8 million, driven by gross margin expansion of 670 basis points year-over-year to 52.6%. The company generated $255 million in free cash flow and repurchased $400 million of shares, reducing common stock outstanding by approximately 5% v...
QRVO filed its 10-Q; the most relevant disclosure change is added Business combinations: Qorvo entered into merger agreement with Skyworks Solutions on October 27, 2025, providing for Qorvo to become wholly-owned subsidiary of Skyworks via two-step merger; each QRVO share to receive 0.960 SWKS shares plus $32.50 cash.
Qorvo Provides Supplemental Disclosures to Joint Proxy Statement for Skyworks Merger
Qorvo, Inc. has filed supplemental disclosures to the Joint Proxy Statement/Prospectus for the proposed merger with Skyworks Solutions, Inc., responding to two shareholder lawsuits and demand letters alleging disclosure deficiencies. The supplemental disclosures update certain financial projections, share counts, debt figures, and golden parachute compensation amounts for Qorvo executives. The merger, valued at implied consideration of $103.58 per Qorvo share (consisting of $32.50 cash plus Skyworks stock), rema...
Qorvo reported fiscal 2026 third quarter revenue of $993.0 million, up 8.4% year-over-year, with non-GAAP diluted EPS of $2.17 compared to $1.61 in the prior-year quarter. The company stated that fiscal third quarter revenue, non-GAAP gross margin, and non-GAAP EPS all compared favorably to guidance. Management noted strength at the largest customer and growth across all operating segments, including automotive, consumer and enterprise Wi-Fi, D&A, base station, and power management. For the March 2026 quarter, Q...
Qorvo Approves Retention Bonus Agreement with CFO Grant A. Brown in Connection with Skyworks Merger
On November 22, 2025, Qorvo's Compensation Committee approved a retention bonus agreement with Senior Vice President and Chief Financial Officer Grant A. Brown in connection with the planned merger with Skyworks Solutions, Inc. The cash retention bonus totals $986,226, with 60% payable upon merger closing and 40% payable six months after closing, subject to continued employment through each payment date.
QRVO filed its 10-Q; the most relevant disclosure change is added Subsequent events - Proposed mergers: On October 27, 2025, Qorvo entered into an Agreement and Plan of Merger with Skyworks Solutions, Inc. for a two-step merger transaction. Qorvo stockholders will receive 0.960 shares of Skyworks common stock plus $32.50 in cash for each Qorvo share. The transac.
QRVO filed its 10-Q; the most relevant disclosure change is expanded Revenue concentration - Strategic shift from mass-market Android: ACG revenue decreased $71.1 million (11.1%) driven by the company's decision to strategically reduce exposure in mass-market Android smartphones and narrow focus to flagship and premium tiers of smartphones.
Qorvo reported fiscal Q1 2026 revenue of $818.8 million, down 7.7% year-over-year from $886.7 million in the year-ago quarter. Non-GAAP gross margin of 44.0% exceeded the high-end of guidance and improved 3.1 percentage points year-over-year, while non-GAAP diluted EPS of $0.92 beat the high-end of prior guidance. For the September 2025 quarter, Qorvo guides revenue of approximately $1.025 billion plus or minus $50 million, non-GAAP gross margin of 48% to 50%, and non-GAAP diluted EPS of $2.00 plus or minus $0.25.
Qorvo awards FY2026 performance-based restricted stock units to named executive officers
On May 15, 2025, the Compensation Committee of Qorvo, Inc. approved performance-based restricted stock unit awards for fiscal year 2026 to five named executive officers. The awards consist of Performance Objective PBRSUs (approximately 75% of target grant value) and Gross Margin PBRSUs (approximately 25% of target grant value), with the fair market value established at $78.42 per share based on the closing stock price on May 15, 2025.
QRVO filed its 10-K; the most relevant disclosure change is added Goodwill and intangible asset impairment: Goodwill and intangible asset impairment charges of $192.6 million in FY2025 related to SiC power device business ($96.5 million goodwill impairment in Q2) and MEMS-based sensing solutions business ($47.8 million goodwill impairment and $31.7 million intangibl. Customer concentration: Apple Inc. represented 47% of revenue; Samsung Electronics represented 10% of revenue.
Qorvo reported Q4 FY2025 revenue of $869.5 million, which exceeded the revenue guidance midpoint. Non-GAAP diluted EPS of $1.42 surpassed the EPS guidance midpoint by $0.42, while non-GAAP gross margin of 45.9% also exceeded the gross margin guidance midpoint. Year-over-year, revenue declined 7.6% from $941.0 million in Q4 FY2024, but non-GAAP EPS improved by $0.03 from $1.39. For the June 2025 quarter, Qorvo guides revenue of approximately $775 million (±$25 million), non-GAAP gross margin of 42% to 44%, and no...
QRVO filed its 10-Q; the most relevant disclosure change is added Business held for sale: SiC power device business classified as held for sale as of December 28, 2024 with assets of $116.4 million and liabilities of $29.1 million; sale completed January 14, 2025 for $115 million with expected gain to be recorded in Q4 FY2025.
Qorvo reported fiscal Q3 2025 revenue of $916.3 million, down 14.7% year-over-year, with non-GAAP diluted EPS of $1.61 versus $2.10 in the year-ago quarter; the company exceeded the midpoint of its December quarter guidance for revenue, gross margin, and EPS. For the March 2025 quarter, Qorvo expects revenue of approximately $850 million plus or minus $25 million, non-GAAP gross margin of 43%-44%, and non-GAAP diluted EPS of $0.90-$1.10; subsequent to quarter-end, Qorvo divested its silicon carbide business.