Qorvo — Jul 29, 2025 release

In the September quarter, we expect sequential growth and margin expansion to be supported by increases in Qorvo content and unit volumes in large customer programs." Financial Commentary and Outlook Grant Brown, chief financial officer of Qorvo, said, "Qorvo’s fiscal first quarter revenue and non-GAAP EPS exceeded the high-end of guidance, driven by broad-based demand. Fiscal first quarter non-GAAP gross margin of 44% achieved the high-end of guidance and represented a meaningful year-over-year improvement. Furthermore, our fiscal second quarter non-GAAP gross margin guidance of 48% - 50% would represent a 200 basis-point improvement versus last year at the midpoint. These improvements demonstrate the actions being undertaken across our product portfolio, business segments, and manufacturing footprint that will enable us to improve profitability as we advance through fiscal 2026 and into fiscal 2027." Qorvo’s current outlook for the September 2025 quarter is: • Quarterly revenue of approximately $1.025 billion, plus or minus $50 million • Non-GAAP gross margin between 48% and 50% • Non-GAAP diluted earnings per share of $2.00, plus or minus 25 cents See "Forward-looking non-GAAP financial measures" below. Qorvo's actual quarterly results may differ from these expectations and projections, and such differences may be material. Selected Financial Information The following tables set forth selected GAAP and non-GAAP financial information for Qorvo for the periods indicated. See the more detailed financial information for Qorvo, including reconciliations of GAAP and non-GAAP financial information, attached. SELECTED GAAP RESULTS (In millions, except for percentages and EPS) (Unaudited) Q1 Fiscal 2026 Q4 Fiscal 2025 Q1 Fiscal 2025 Sequential Change Year-over-Year Change