| Financial Tables to Follow | |||||||||||||||
| QORVO, INC. AND SUBSIDIARIES | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (In thousands, except per share data) | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| March 30, 2024 | April 1, 2023 | March 30, 2024 | April 1, 2023 | ||||||||||||
| Revenue | $ | 940,988 | $ | 632,703 | $ | 3,769,506 | $ | 3,569,399 | |||||||
| Costs and expenses: | |||||||||||||||
| Cost of goods sold | 559,131 | 517,989 | 2,281,011 | 2,272,457 | |||||||||||
| Research and development | 179,883 | 163,637 | 682,249 | 649,841 | |||||||||||
| Selling, general and administrative | 93,107 | 82,954 | 389,140 | 358,790 | |||||||||||
| Other operating expense | 78,889 | 57,105 | 325,405 | 105,143 | |||||||||||
| Total costs and expenses | 911,010 | 821,685 | 3,677,805 | 3,386,231 | |||||||||||
| Operating income (loss) | 29,978 | (188,982 | ) | 91,701 | 183,168 | ||||||||||
| Interest expense | (17,282 | ) | (17,241 | ) | (69,245 | ) | (68,463 | ) | |||||||
| Other income, net | 16,818 | 7,210 | 51,104 | 9,924 | |||||||||||
| Income (loss) before income taxes | 29,514 | (199,013 | ) | 73,560 | 124,629 | ||||||||||
| Income tax (expense) benefit | (26,779 | ) | 60,597 | (143,882 | ) | (21,477 | ) | ||||||||
| Net income (loss) | $ | 2,735 | $ | (138,416 | ) | $ | (70,322 | ) | $ | 103,152 | |||||
| Net income (loss) per share, diluted | $ | 0.03 | $ | (1.39 | ) | $ | (0.72 | ) | $ | 1.00 | |||||
| Weighted-average outstanding diluted shares | 97,335 | 99,513 | 97,557 | 103,019 | |||||||||||
