|
QORVO, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In thousands, except per share data) (Unaudited) | |||||||||||
| Three Months Ended | |||||||||||
| June 29, 2024 | March 30, 2024 | July 1, 2023 | |||||||||
| GAAP operating income (loss) | $ | 4,606 | $ | 29,978 | $ | (48,136 | ) | ||||
| Stock-based compensation expense | 42,366 | 21,581 | 38,445 | ||||||||
| Amortization of intangible assets | 30,474 | 31,187 | 30,872 | ||||||||
| Restructuring-related charges | 19,574 | 55,535 | 22,736 | ||||||||
| Acquisition and integration-related costs | 2,582 | 6,596 | 1,195 | ||||||||
| Adjustments related to a terminated capacity reservation agreement | (2,586 | ) | (13,445 | ) | — | ||||||
| Other expense | 1,109 | 15,792 | 1,609 | ||||||||
| Non-GAAP operating income | $ | 98,125 | $ | 147,224 | $ | 46,721 | |||||
| GAAP net income (loss) | $ | 414 | $ | 2,735 | $ | (43,580 | ) | ||||
| Stock-based compensation expense | 42,366 | 21,581 | 38,445 | ||||||||
| Amortization of intangible assets | 30,474 | 31,187 | 30,872 | ||||||||
| Restructuring-related charges | 19,574 | 55,535 | 22,736 | ||||||||
| Acquisition and integration-related costs | 2,582 | 6,596 | 1,195 | ||||||||
| Adjustments related to a terminated capacity reservation agreement | (2,586 | ) | (13,445 | ) | — | ||||||
| Other (income) expense | (860 | ) | 10,662 | (914 | ) | ||||||
| Loss (gain) on investments | 2,499 | 1,805 | (2,062 | ) | |||||||
| Adjustment of income taxes | (10,939 | ) | 18,874 | (13,114 | ) | ||||||
| Non-GAAP net income | $ | 83,524 | $ | 135,530 | $ | 33,578 | |||||
| GAAP weighted-average outstanding diluted shares | 96,510 | 97,335 | 98,509 | ||||||||
| Dilutive stock-based awards | — | — | 806 | ||||||||
| Non-GAAP weighted-average outstanding diluted shares | 96,510 | 97,335 | 99,315 | ||||||||
| Non-GAAP net income per share, diluted | $ | 0.87 | $ | 1.39 | $ | 0.34 | |||||
QORVO, INC. AND SUBSIDIARIES
