Qorvo® Announces Fiscal 2025 First Quarter Financial Results

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(Unaudited)

  Three Months Ended
(in thousands, except percentages) June 29, 2024  March 30, 2024  July 1, 2023
GAAP gross profit/margin$332,304  37.5% $381,857  40.6% $229,070 35.2%
Stock-based compensation expense 5,186  0.6   3,444  0.3   4,949 0.7 
Amortization of intangible assets 25,827  2.9   26,031  2.8   26,489 4.1 
Restructuring-related charges      1,212  0.1   18,955 2.9 
Acquisition and integration-related costs   1,925     0.2       1,281     0.1       1    
Adjustments related to a terminated capacity reservation agreement   (2,586 )   (0.3 )     (13,445 )   (1.4 )        
Non-GAAP gross profit/margin $ 362,656     40.9 %   $ 400,380     42.5 %   $ 279,464   42.9 %
                                       

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