| QORVO, INC. AND SUBSIDIARIES | ||||||||||
| RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | ||||||||||
| (In thousands, except per share data) | ||||||||||
| (Unaudited) | ||||||||||
| Three Months Ended | ||||||||||
| December 30, 2023 | September 30, 2023 | December 31, 2022 | ||||||||
| GAAP operating (loss) income | $ | (41,569 | ) | $ | 151,428 | $ | 8,729 | |||
| Stock-based compensation expense | 21,755 | 39,053 | 19,708 | |||||||
| Amortization of intangible assets | 29,787 | 29,963 | 32,844 | |||||||
| Restructuring-related charges | 6,075 | 8,418 | 27,385 | |||||||
| Acquisition and integration-related costs | 2,529 | 852 | 6,296 | |||||||
| Goodwill impairment | 173,414 | 48,000 | — | |||||||
| Charges associated with a long-term capacity reservation agreement | 51,864 | — | — | |||||||
| Other (income) expense | (7,333 | ) | 1,712 | 3,591 | ||||||
| Non-GAAP operating income | $ | 236,522 | $ | 279,426 | $ | 98,553 | ||||
| GAAP net (loss) income | $ | (126,938 | ) | $ | 97,461 | $ | (15,931 | ) | ||
| Stock-based compensation expense | 21,755 | 39,053 | 19,708 | |||||||
| Amortization of intangible assets | 29,787 | 29,963 | 32,844 | |||||||
| Restructuring-related charges | 6,075 | 8,418 | 27,385 | |||||||
| Acquisition and integration-related costs | 2,529 | 852 | 6,296 | |||||||
| Goodwill impairment | 173,414 | 48,000 | — | |||||||
| Charges associated with a long-term capacity reservation agreement | 51,864 | — | — | |||||||
| Other (income) expense | (12,252 | ) | 2,616 | 1,683 | ||||||
| Loss on investments | 464 | 1,574 | 5,615 | |||||||
| Adjustment of income taxes | 59,161 | 7,576 | (1,145 | ) | ||||||
| Non-GAAP net income | $ | 205,859 | $ | 235,513 | $ | 76,455 | ||||
| GAAP weighted-average outstanding diluted shares | 97,152 | 98,590 | 100,943 | |||||||
| Dilutive stock-based awards | 666 | — | 664 | |||||||
| Non-GAAP weighted-average outstanding diluted shares | 97,818 | 98,590 | 101,607 | |||||||
| Non-GAAP net income per share, diluted | $ | 2.10 | $ | 2.39 | $ | 0.75 | ||||
