Media Relations: Investor Relations:
Media Relations: Investor Relations: Constance Griffiths Raji Gill (949) 230-4867 (949) 508-0973 Constance.Griffiths@skyworks.com Raji.Gill@skyworks.com
Skyworks Begins New Chapter Following Qorvo Combination; Reports Fourth Quarter and Fiscal 2026 Results • Creates a Full-Stack RF Front-End Platform for Next-Generation Smartphones
• Expands Reach Across Four Secular Growth Markets – Physical AI, Defense, Infrastructure, and Automotive
• Broadens Technology Portfolio with RF GaN, Low-Voltage Power and Wired Broadband
• Skyworks Standalone Revenue of $1.046 Billion, GAAP Diluted EPS of $0.15 and Non-GAAP Diluted EPS of $1.28
– Skyworks Solutions, Inc. (Nasdaq: SWKS), a global leader in high-performance RF, precision timing, power management and mixed-signal solutions, today reported fourth fiscal quarter and fiscal year 2026 results for the period ended Oct. 2, 2026.
Skyworks’ revenue for its fourth fiscal quarter of 2026 was $1,046 million. Skyworks’ GAAP diluted earnings per share were $0.15 and non-GAAP diluted earnings per share were $1.28. For fiscal year 2026, Skyworks’ revenue was $3.96 billion, with GAAP diluted earnings per share of $1.14 and non-GAAP diluted earnings per share of $5.05.
“Today marks a new chapter for Skyworks,” said Phil Brace, chief executive officer and president of Skyworks. “Combining with Qorvo gives us the scale and the technology breadth to lead the next era of wireless, as AI moves from the infrastructure to the devices, vehicles and machines around us. In Smartphone, our portfolio now spans the RF front-end, from power management to the antenna, as 5G-Advanced and 6G drive a new cycle of RF complexity. In Diversified Growth Markets, our
complementary RF GaN, power, and timing solutions expand our reach across Physical AI and Connected Edge, Defense and Aerospace, Infrastructure, and Automotive. Our focus now is execution: delivering for our customers, achieving $500 million or more of annual cost synergies and building a stronger, more diversified Skyworks.”
• Received favorable credit rating actions following completion of the Qorvo combination, including an upgrade to investment grade by Moody’s (Baa3) and an outlook revision to Stable from Negative by Fitch (BBB+ affirmed)
• Began realizing synergies, completing the initial consolidation of our management team and HR systems integration
• Secured timing design wins across AI data center networking, including 1.6T scale-up, scale-out and data center interconnect switches and began shipping high-performance clocks for leading AI hyperscalers’ rackscale systems
• Extended automotive design-win momentum, including an EV traction inverter gate driver win with a German premium automaker and new infotainment programs with leading global OEMs
“Because our combination with Qorvo closed after the end of our fiscal fourth quarter, our reported September-quarter results are Skyworks standalone,” said Philip Carter, chief financial officer and senior vice president of Skyworks. “Combined September-quarter revenue of approximately $1.98 billion, which includes an additional week in Qorvo’s fiscal quarter, provides the starting point for our first quarter as a
combined company. Beginning with our first fiscal quarter of 2027, we will report on a fully combined basis, with Smartphone and Diversified Growth Markets as our revenue categories.”
Skyworks: three months ended October 2, 2026. Qorvo: fiscal quarter ended October 3, 2026. Combined amounts are the sum of each company’s results for its respective fiscal period; totals may not sum due to rounding.
(1) Qorvo’s fiscal quarter included an additional week of approximately $70 million.
We provide earnings guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this earnings release for further discussion of our use of non-GAAP measures, including quantification of known expected adjustment items.
“For the December quarter, our first as a combined company, we anticipate revenue of $1.80 billion to $1.90 billion. At the midpoint, this includes approximately $1.07 billion from legacy Skyworks and approximately $780 million from legacy Qorvo; this is the last quarter in which we will provide this split,” said Philip Carter. “Qorvo’s September quarter included an extra week, which contributed approximately $70 million of revenue. Our outlook at the midpoint is down approximately 7 percent sequentially from combined September revenue, or approximately 3 percent excluding the extra week. At the midpoint of the revenue range, we expect non-GAAP diluted earnings per share of $1.25, based on approximately 241 million diluted shares and including approximately $50 million of other expense, primarily interest on the acquisition financing.
“We expect Smartphone revenue to decline in the low teens percent sequentially, reflecting seasonality, well-known softness in the Android market as we remain focused on the premium tier, and the
extra week in Qorvo’s September quarter. We expect Diversified Growth Markets revenue to grow in the low single digits sequentially, despite the extra week in the prior quarter, and in the high single to low double digits year-over-year on a combined basis, representing more than 40 percent of sales, led by data center and defense.
“Our December-quarter outlook reflects only the early stages of synergy realization. We expect to realize approximately $150 million of synergies in operating expenses within fiscal 2027, weighted to the second half of the year, and to exit fiscal 2027 at an annualized run-rate of approximately $250 million to $300 million. We remain fully committed to $500 million or more of annual cost synergies within 24 to 36 months of close.”
Skyworks will host a conference call with analysts to discuss its fourth quarter and fiscal year 2026 results, the completed combination with Qorvo and its business outlook on Nov. 3, 2026, at 4:30 p.m. EST.
To listen to the conference call, please visit the investor relations section of Skyworks’ website at https://investors.skyworksinc.com/events-presentations. Playback of the conference call will be available on Skyworks’ website at www.skyworksinc.com/investors beginning at 9 p.m. EST on Nov. 3, 2026. Additionally, a transcript of the Company’s prepared remarks will be made available on our website promptly after their conclusion during the call .
Skyworks® is a global leader in high-performance RF, precision timing, power management and mixed-signal solutions that power the intelligent, connected world. Through deep engineering expertise, Skyworks helps customers address rising complexity and deliver seamless connectivity across smartphones, vehicles, networks and critical infrastructure.
From defense and aerospace systems to the connected edge, AI infrastructure and next-generation automotive platforms, Skyworks provides the essential technologies that connect, synchronize and power physical AI, as intelligence moves out of the data center and into the real world. Harnessing decades of technical leadership and trusted partnerships across the technology ecosystem, Skyworks helps the world’s leading innovators bring next-generation products and services to market.
Skyworks is a member of the S&P 500® market index (Nasdaq: SWKS). For more information, please visit www.skyworks.com.
This earnings release includes “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Skyworks’ current expectations, estimates and projections concerning future events, prospects and results, including the expected benefits and impacts of the transactions with Qorvo. In this context, forward-looking statements often address expected future business and financial performance and financial condition, including certain projections and business trends, including with respect to future sales and revenue, as well as plans for dividend payments and stock repurchases. Forward-looking statements can often be identified by words such as “expect,” “anticipate,” “forecast,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “expect,” “target,” and similar expressions and variations or negatives of these words, or other comparable terminology that conveys uncertainty regarding future events or outcomes. All such statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control and are not guarantees of future results, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. These and other forward- looking statements, including the failure to consummate the proposed transactions or to make or take any filing or other action required to consummate the transactions in a timely matter or at all, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and adversely from those projected and may affect our future operating results, financial position and cash flows, and, therefore, you should not place undue reliance on any such statements and should exercise caution in relying on forward-looking statements.
These risks, uncertainties and other important factors that may cause a difference include, but are not limited to: the risks of doing business internationally, including from trade war or trade protection measures (e.g., tariffs, retaliatory tariffs and other countermeasures or taxes), increased import/export restrictions and controls (e.g., our ability to obtain foreign- sourced raw materials, including from Chinese-based sources, as well as our ability to sell products to certain specified foreign entities only pursuant to a limited export license from the U.S. Department of Commerce), the susceptibility of the semiconductor industry and the markets addressed by our, and our customers’, products to economic cycles or changes in economic conditions, including inflation and recession that could result from trade war or trade protection measures; our reliance on a small number of key customers for a large percentage of our sales; decreased gross margins and loss of market share as a result of increased competition; our ability to obtain design wins from customers; our ability to convert design wins into revenue market acceptance of our products and our customers’ products, including market acceptance of new, emerging technologies such as AI; the mix and volume of phone models sold by our largest customer; the availability and pricing of third-party semiconductor foundry, assembly and test capacity, raw materials, including rare earth and similar minerals, supplier components, equipment and shipping and logistics services, including limits on our customers’ ability to obtain such services and materials; the impacts of the transactions with Qorvo on the businesses of Skyworks and Qorvo, including unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies, and the expansion and growth of their businesses; the failure to realize the anticipated benefits of the transactions with Qorvo, such as expected synergies and the timing of achieving those synergies, including as a result of delay in integrating the businesses of Skyworks and Qorvo; our ability to implement our business strategies; pricing trends; our ability to retain and hire key personnel; potential adverse reactions or changes to business relationships with employees, customers, other business partners or governmental entities resulting from the completion of the transactions with Qorvo; uncertainty as to the long-term value of Skyworks’ common stock; legislative, regulatory and economic developments affecting our businesses; general economic and market developments and conditions; the evolving legal, regulatory and tax regimes under which we operate; potential business uncertainty that could affect our financial performance; the unpredictability and severity of catastrophic events, including acts of terrorism, outbreaks of war or hostilities, as well as our response to any of the aforementioned factors; reduced flexibility in operating our business as a result of the indebtedness incurred in connection with the transaction with Silicon Laboratories Inc. and the substantial amount of additional indebtedness we incurred in connection with the Qorvo transactions; delays in the deployment of commercial 5G networks or in consumer adoption of 5G-enabled devices; the volatility of our stock price; changes in laws, regulations and/or policies that could adversely affect our operations and financial results, the economy and our customers’ demand for our products, or the financial markets and our ability to raise capital; fluctuations in our manufacturing yields due to our complex and specialized manufacturing processes; our ability to develop, manufacture and market innovative products, avoid product obsolescence, reduce costs in a timely manner, transition our products to smaller geometry process technologies and achieve higher levels of design integration; the quality of our products and any defect remediation costs; our products’ ability to perform under stringent operating conditions; risks that we may not be able to optimize our manufacturing footprint and achieve any financial and operational benefits from such efforts, including reducing fixed costs or improving utilization rates, disruptions to our
manufacturing processes, including relating to any relocation of our key facilities; our ability to successfully manage our senior management transitions; our ability to retain, recruit and hire key executives or the departure of any such executives, technical personnel and other employees in the positions and numbers, with the experience and capabilities, and at the compensation levels needed to implement our business and product plans; the timing, rescheduling or cancellation of significant customer orders and our ability, as well as the ability of our customers, to manage inventory; other economic, social, military and geopolitical conditions in the countries in which we, our customers or our suppliers operate, including the conflicts in Ukraine, Iran and other regions in the Middle East, possible disruptions in transportation networks, and fluctuations in foreign currency exchange rates; the effects of global health crises on business conditions in our industry, including the risk of significant disruptions to our business operations, as well as negative impacts to our financial condition; our ability to prevent theft of our intellectual property, disclosure of confidential information or breaches of our information technology systems; uncertainties of litigation, including potential disputes over intellectual property infringement and rights, as well as payments related to the licensing and/or sale of such rights; our ability to continue to grow and maintain an intellectual property portfolio and obtain needed licenses from third parties; our ability to make certain investments and acquisitions, integrate companies we acquire and/or enter into strategic alliances; and other risks and uncertainties, including those detailed from time to time in our filings including the Joint Proxy Statement/Prospectus our Form 10-K, with the Securities and Exchange Commission. While the factors identified here and in our Form 10-K are considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on our consolidated financial condition, results of operations or liquidity.
The forward-looking statements contained in this earnings release are made only as of the date hereof, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, should circumstances change, except as otherwise required by securities or other applicable laws.
Note to Editors: Skyworks, Qorvo, the Skyworks symbol, and the Qorvo symbol are trademarks or registered trademarks of Skyworks Solutions, Inc. or its subsidiaries in the United States and other countries. Third-party brands and names are for identification purposes only and are the property of their respective owners.
Our earnings release contains some or all of the following financial measures that have not been calculated in accordance with United States Generally Accepted Accounting Principles (“GAAP”): (i) non-GAAP gross profit and gross margin, (ii) non-GAAP operating income and operating margin, (iii) non-GAAP net income, (iv) non-GAAP diluted earnings per share, and (v) non-GAAP free cash flow and free cash flow margin. As set forth in the “Unaudited Reconciliations of Non-GAAP Financial Measures” table found above, we derive such non-GAAP financial measures by excluding certain expenses and other items from the respective GAAP financial measure that is most directly comparable to each non- GAAP financial measure. Management uses these non-GAAP financial measures to evaluate our operating performance and compare it against past periods, make operating decisions, forecast for future periods, compare our operating performance against peer companies, and determine payments under certain compensation programs. These non-GAAP financial measures provide management with additional means to understand and evaluate the operating results and trends in our ongoing business by eliminating certain non-recurring expenses and other items that management believes might otherwise make comparisons of our ongoing business with prior periods and competitors more difficult, obscure trends in ongoing operations, or reduce management’s ability to make forecasts.
We provide investors with non-GAAP gross profit and gross margin, non-GAAP operating income and operating margin, non-GAAP net income, non-GAAP diluted earnings per share, and non-GAAP free cash flow and free cash flow margin because we believe it is important for investors to be able to closely monitor and understand changes in our ability to generate income from ongoing business operations. We believe these non-GAAP financial measures give investors an additional method to evaluate historical operating performance and identify trends, an additional means of evaluating period-over-period operating performance and a method to facilitate certain comparisons of our operating results to those of our peer companies. We believe that providing non-GAAP operating income and operating margin allows investors to assess the extent to which our ongoing operations impact our overall financial performance. We also believe that providing non-GAAP net income and non-GAAP diluted earnings per share allows investors to assess the overall financial performance of our ongoing operations by eliminating the impact of share-based compensation expense, acquisition-related expenses, amortization of acquisition-related intangibles, settlements, gains, losses, and impairments, restructuring-related charges, and certain tax items which may not occur in each period presented and which may represent non-cash items unrelated to our ongoing operations. We further believe that providing non-GAAP free cash flow and free cash flow margin provide insight into our liquidity, our cash-generating capability, and the amount of cash potentially available to return to shareholders. We believe that disclosing these non-GAAP financial measures contributes to enhanced financial reporting transparency and provides investors with added clarity about complex financial performance measures.
We calculate non-GAAP gross profit by excluding from GAAP gross profit, share- based compensation expense, amortization of acquisition-related intangibles, and restructuring and other charges. We calculate non-GAAP operating income by excluding from GAAP operating income, share-based compensation expense, acquisition-related expenses, amortization of acquisition-related intangibles, settlements, gains, losses, and impairments, and restructuring-related charges. We calculate non-GAAP net income and diluted earnings per share by excluding from GAAP net income and diluted earnings per share, share-based compensation expense, acquisition-related expenses, amortization of acquisition-related intangibles, settlements, gains, losses, and impairments, restructuring-related charges, and certain tax items. We calculate non-GAAP free cash flow by deducting capital expenditures from GAAP net cash provided by operating activities. We exclude certain items identified above from the respective non- GAAP financial measure referenced above for the reasons set forth with respect to each such excluded item below:
Share-Based Compensation Expense - because (1) the total amount of expense is partially outside of our control because it is based on factors such as stock price volatility and interest rates, which may be unrelated to our performance during the period in which the expense is incurred, (2) it is an expense based upon a valuation methodology premised on assumptions that vary over time, and (3) the amount of the expense can vary significantly between companies due to factors that can be outside of the control of such companies.
Acquisition-Related Expenses and Amortization of Acquisition-Related Intangibles - including such items as, when applicable, fair value adjustments to contingent consideration, fair value charges incurred upon the sale of acquired inventory, acquisition-related expenses, and amortization of acquired intangible assets because they are not considered by management in making operating decisions and we believe that such expenses do not have a direct correlation to our future business operations and thereby including such charges does not necessarily reflect the performance of our ongoing operations for the period in which such charges or reversals are incurred.
Settlements, Gains, Losses, and Impairments - because such settlements, gains, losses, and impairments (1) are not considered by management in making operating decisions, (2) are infrequent in nature, (3) are generally not directly controlled by management, (4) do not necessarily reflect the performance of our ongoing operations for the period in which such charges are recognized, and/or (5) can vary significantly in amount between companies and make comparisons less reliable.
Restructuring and Other Charges - because these charges have no direct correlation to our future business operations and including such charges or reversals does not necessarily reflect the performance of our ongoing operations for the period in which such charges or reversals are incurred.
Certain Income Tax Items - including certain deferred tax charges and benefits that do not result in a current tax payment or tax refund and other adjustments, including but not limited to, items unrelated to the current fiscal year or that are not indicative of our ongoing business operations. Skyworks uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across reporting periods and to align with its recent historical average of current taxes. For fiscal 2026 , Skyworks will apply a non-GAAP tax rate of 10%, which reflects current taxes relative to non-GAAP pre- tax income after applying certain non-GAAP tax adjustments.
The non-GAAP financial measures presented in the table above should not be considered in isolation and are not an alternative for the respective GAAP financial measure that is most directly comparable to each such non-GAAP financial measure. Investors are cautioned against placing undue reliance on these non-GAAP financial measures and are urged to review and consider carefully the adjustments made by management to the most directly comparable GAAP financial measures to arrive at these non-GAAP financial measures. Non-GAAP financial measures may have limited value as analytical tools because they may exclude certain expenses that some investors consider important in evaluating our operating performance or ongoing business performance. Further, non-GAAP financial measures may have limited value for purposes of drawing comparisons between companies as a result of different companies potentially calculating similarly titled non-GAAP financial measures in different ways because non-GAAP measures are not based on any comprehensive set of accounting rules or principles.
Our earnings release contains forward-looking estimates of non-GAAP diluted earnings per share for the first quarter of our 2027 fiscal year (“Q1 2027”). We provide this non-GAAP measure to investors on a prospective basis for the same reasons (set forth above) that we provide it to investors on a historical basis. We are unable to provide a reconciliation of our forward-looking estimate of Q1 2027 GAAP diluted earnings per share to a forward-looking estimate of Q1 2027 non-GAAP diluted earnings per share because certain information needed to make a reasonable forward-looking estimate of GAAP diluted earnings per share for Q1 2027 (other than estimated share-based compensation expense of $0.40 to $0.60 per diluted share, estimated amortization of intangibles of $0.45 to $0.65 per diluted share and certain tax items of -$0.15 to $0.20 per diluted share) is difficult to predict and estimate and is often dependent on future events that may be uncertain or outside of our control. Such events may include unanticipated changes in our GAAP effective tax rate, unanticipated one-time charges related to asset impairments (fixed assets, inventory, intangibles, or goodwill), unanticipated acquisition-related expenses, unanticipated settlements, gains, losses, and impairments, and other unanticipated non- recurring items not reflective of ongoing operations. The probable significance of these unknown items, in the aggregate, is estimated to be in the range of $0.20 to $0.40 in quarterly earnings per diluted share on a GAAP basis. Our forward-looking estimates of both GAAP and non-GAAP measures of our financial performance may differ materially from our actual results and should not be relied upon as statements of fact.
[a] The following table summarizes the expense recognized in accordance with ASC 718 - Compensation, Stock Compensation (in millions):
Full text with the tables
Exhibit 99.1
Media Relations: Investor Relations:
Constance Griffiths Raji Gill
(949) 230-4867 (949) 508-0973
Constance.Griffiths@skyworks.com Raji.Gill@skyworks.com
Skyworks Begins New Chapter Following Qorvo Combination; Reports Fourth Quarter
and Fiscal 2026 Results
• Creates a Full-Stack RF Front-End Platform for Next-Generation Smartphones
• Expands Reach Across Four Secular Growth Markets – Physical AI, Defense,
Infrastructure, and Automotive
• Broadens Technology Portfolio with RF GaN, Low-Voltage Power and Wired
Broadband
• Targets $500 Million or More of Annual Cost Synergies
• Skyworks Standalone Revenue of $1.046 Billion, GAAP Diluted EPS of $0.15 and
Non-GAAP Diluted EPS of $1.28
IRVINE, Calif., Nov. 3, 2026
– Skyworks Solutions, Inc. (Nasdaq: SWKS), a global leader in high-performance
RF, precision timing, power management and mixed-signal solutions, today
reported fourth fiscal quarter and fiscal year 2026 results for the period ended
Oct. 2, 2026.
Skyworks’ revenue for its fourth fiscal quarter of 2026 was $1,046 million.
Skyworks’ GAAP diluted earnings per share were $0.15 and non-GAAP diluted
earnings per share were $1.28. For fiscal year 2026, Skyworks’ revenue was $3.96
billion, with GAAP diluted earnings per share of $1.14 and non-GAAP diluted
earnings per share of $5.05.
“Today marks a new chapter for Skyworks,” said Phil Brace, chief executive
officer and president of Skyworks. “Combining with Qorvo gives us the scale and
the technology breadth to lead the next era of wireless, as AI moves from the
infrastructure to the devices, vehicles and machines around us. In Smartphone,
our portfolio now spans the RF front-end, from power management to the antenna,
as 5G-Advanced and 6G drive a new cycle of RF complexity. In Diversified Growth
Markets, our
complementary RF GaN, power, and timing solutions expand our reach across
Physical AI and Connected Edge, Defense and Aerospace, Infrastructure, and
Automotive. Our focus now is execution: delivering for our customers, achieving
$500 million or more of annual cost synergies and building a stronger, more
diversified Skyworks.”
Recent Business Highlights
• Received favorable credit rating actions following completion of the Qorvo
combination, including an upgrade to investment grade by Moody’s (Baa3) and an
outlook revision to Stable from Negative by Fitch (BBB+ affirmed)
• Began realizing synergies, completing the initial consolidation of our
management team and HR systems integration
• Secured timing design wins across AI data center networking, including 1.6T
scale-up, scale-out and data center interconnect switches and began shipping
high-performance clocks for leading AI hyperscalers’ rackscale systems
• Extended automotive design-win momentum, including an EV traction inverter
gate driver win with a German premium automaker and new infotainment programs
with leading global OEMs
Basis of Presentation and New Revenue Categories
“Because our combination with Qorvo closed after the end of our fiscal fourth
quarter, our reported September-quarter results are Skyworks standalone,” said
Philip Carter, chief financial officer and senior vice president of Skyworks.
“Combined September-quarter revenue of approximately $1.98 billion, which
includes an additional week in Qorvo’s fiscal quarter, provides the starting
point for our first quarter as a
combined company. Beginning with our first fiscal quarter of 2027, we will
report on a fully combined basis, with Smartphone and Diversified Growth Markets
as our revenue categories.”
September Fiscal Quarter 2026 Revenue
(in millions, unaudited)
Skyworks Qorvo Combined
───────────────────────────────────────────────────────────────────────
Net revenue $ 1,046 $ 937 -1 $ 1,983
Skyworks: three months ended October 2, 2026. Qorvo: fiscal quarter ended
October 3, 2026. Combined amounts are the sum of each company’s results for its
respective fiscal period; totals may not sum due to rounding.
(1) Qorvo’s fiscal quarter included an additional week of approximately $70
million.
First Fiscal Quarter 2027 Outlook
We provide earnings guidance on a non-GAAP basis because certain information
necessary to reconcile such guidance to GAAP is difficult to estimate and
dependent on future events outside of our control. Please refer to the attached
Discussion Regarding the Use of Non-GAAP Financial Measures in this earnings
release for further discussion of our use of non-GAAP measures, including
quantification of known expected adjustment items.
“For the December quarter, our first as a combined company, we anticipate
revenue of $1.80 billion to $1.90 billion. At the midpoint, this includes
approximately $1.07 billion from legacy Skyworks and approximately $780 million
from legacy Qorvo; this is the last quarter in which we will provide this
split,” said Philip Carter. “Qorvo’s September quarter included an extra week,
which contributed approximately $70 million of revenue. Our outlook at the
midpoint is down approximately 7 percent sequentially from combined September
revenue, or approximately 3 percent excluding the extra week. At the midpoint of
the revenue range, we expect non-GAAP diluted earnings per share of $1.25, based
on approximately 241 million diluted shares and including approximately $50
million of other expense, primarily interest on the acquisition financing.
“We expect Smartphone revenue to decline in the low teens percent sequentially,
reflecting seasonality, well-known softness in the Android market as we remain
focused on the premium tier, and the
extra week in Qorvo’s September quarter. We expect Diversified Growth Markets
revenue to grow in the low single digits sequentially, despite the extra week in
the prior quarter, and in the high single to low double digits year-over-year on
a combined basis, representing more than 40 percent of sales, led by data center
and defense.
“Our December-quarter outlook reflects only the early stages of synergy
realization. We expect to realize approximately $150 million of synergies in
operating expenses within fiscal 2027, weighted to the second half of the year,
and to exit fiscal 2027 at an annualized run-rate of approximately $250 million
to $300 million. We remain fully committed to $500 million or more of annual
cost synergies within 24 to 36 months of close.”
Skyworks’ Fourth Quarter and Fiscal Year 2026 Conference Call
Skyworks will host a conference call with analysts to discuss its fourth quarter
and fiscal year 2026 results, the completed combination with Qorvo and its
business outlook on Nov. 3, 2026, at 4:30 p.m. EST.
To listen to the conference call, please visit the investor relations section of
Skyworks’ website at https://investors.skyworksinc.com/events-presentations.
Playback of the conference call will be available on Skyworks’ website at
www.skyworksinc.com/investors beginning at 9 p.m. EST on Nov. 3, 2026.
Additionally, a transcript of the Company’s prepared remarks will be made
available on our website promptly after their conclusion during the call .
About Skyworks
Skyworks® is a global leader in high-performance RF, precision timing, power
management and mixed-signal solutions that power the intelligent, connected
world. Through deep engineering expertise, Skyworks helps customers address
rising complexity and deliver seamless connectivity across smartphones,
vehicles, networks and critical infrastructure.
From defense and aerospace systems to the connected edge, AI infrastructure and
next-generation automotive platforms, Skyworks provides the essential
technologies that connect, synchronize and power physical AI, as intelligence
moves out of the data center and into the real world. Harnessing decades of
technical leadership and trusted partnerships across the technology ecosystem,
Skyworks helps the world’s leading innovators bring next-generation products and
services to market.
Skyworks is a member of the S&P 500® market index (Nasdaq: SWKS). For more
information, please visit www.skyworks.com.
Safe Harbor Statement
This earnings release includes “forward-looking statements” within the meaning
of the federal securities laws, including Section 27A of the U.S. Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and is intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on Skyworks’ current expectations,
estimates and projections concerning future events, prospects and results,
including the expected benefits and impacts of the transactions with Qorvo. In
this context, forward-looking statements often address expected future business
and financial performance and financial condition, including certain projections
and business trends, including with respect to future sales and revenue, as well
as plans for dividend payments and stock repurchases. Forward-looking statements
can often be identified by words such as “expect,” “anticipate,” “forecast,”
“intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,”
“might,” “potentially,” “estimate,” “continue,” “expect,” “target,” and similar
expressions and variations or negatives of these words, or other comparable
terminology that conveys uncertainty regarding future events or outcomes. All
such statements by their nature address matters that involve risks and
uncertainties, many of which are beyond our control and are not guarantees of
future results, such as statements about the consummation of the proposed
transaction and the anticipated benefits thereof. These and other forward-
looking statements, including the failure to consummate the proposed
transactions or to make or take any filing or other action required to
consummate the transactions in a timely matter or at all, are not guarantees of
future results and are subject to risks, uncertainties and assumptions that
could cause actual results to differ materially from those expressed in any
forward-looking statements. Accordingly, there are or will be important factors
that could cause actual results to differ materially from those indicated in
such statements and adversely from those projected and may affect our future
operating results, financial position and cash flows, and, therefore, you should
not place undue reliance on any such statements and should exercise caution in
relying on forward-looking statements.
These risks, uncertainties and other important factors that may cause a
difference include, but are not limited to: the risks of doing business
internationally, including from trade war or trade protection measures (e.g.,
tariffs, retaliatory tariffs and other countermeasures or taxes), increased
import/export restrictions and controls (e.g., our ability to obtain foreign-
sourced raw materials, including from Chinese-based sources, as well as our
ability to sell products to certain specified foreign entities only pursuant to
a limited export license from the U.S. Department of Commerce), the
susceptibility of the semiconductor industry and the markets addressed by our,
and our customers’, products to economic cycles or changes in economic
conditions, including inflation and recession that could result from trade war
or trade protection measures; our reliance on a small number of key customers
for a large percentage of our sales; decreased gross margins and loss of market
share as a result of increased competition; our ability to obtain design wins
from customers; our ability to convert design wins into revenue market
acceptance of our products and our customers’ products, including market
acceptance of new, emerging technologies such as AI; the mix and volume of phone
models sold by our largest customer; the availability and pricing of third-party
semiconductor foundry, assembly and test capacity, raw materials, including rare
earth and similar minerals, supplier components, equipment and shipping and
logistics services, including limits on our customers’ ability to obtain such
services and materials; the impacts of the transactions with Qorvo on the
businesses of Skyworks and Qorvo, including unforeseen liabilities, future
capital expenditures, revenues, expenses, earnings, synergies, economic
performance, indebtedness, financial condition, losses, future prospects,
business and management strategies, and the expansion and growth of their
businesses; the failure to realize the anticipated benefits of the transactions
with Qorvo, such as expected synergies and the timing of achieving those
synergies, including as a result of delay in integrating the businesses of
Skyworks and Qorvo; our ability to implement our business strategies; pricing
trends; our ability to retain and hire key personnel; potential adverse
reactions or changes to business relationships with employees, customers, other
business partners or governmental entities resulting from the completion of the
transactions with Qorvo; uncertainty as to the long-term value of Skyworks’
common stock; legislative, regulatory and economic developments affecting our
businesses; general economic and market developments and conditions; the
evolving legal, regulatory and tax regimes under which we operate; potential
business uncertainty that could affect our financial performance; the
unpredictability and severity of catastrophic events, including acts of
terrorism, outbreaks of war or hostilities, as well as our response to any of
the aforementioned factors; reduced flexibility in operating our business as a
result of the indebtedness incurred in connection with the transaction with
Silicon Laboratories Inc. and the substantial amount of additional indebtedness
we incurred in connection with the Qorvo transactions; delays in the deployment
of commercial 5G networks or in consumer adoption of 5G-enabled devices; the
volatility of our stock price; changes in laws, regulations and/or policies that
could adversely affect our operations and financial results, the economy and our
customers’ demand for our products, or the financial markets and our ability to
raise capital; fluctuations in our manufacturing yields due to our complex and
specialized manufacturing processes; our ability to develop, manufacture and
market innovative products, avoid product obsolescence, reduce costs in a timely
manner, transition our products to smaller geometry process technologies and
achieve higher levels of design integration; the quality of our products and any
defect remediation costs; our products’ ability to perform under stringent
operating conditions; risks that we may not be able to optimize our
manufacturing footprint and achieve any financial and operational benefits from
such efforts, including reducing fixed costs or improving utilization rates,
disruptions to our
manufacturing processes, including relating to any relocation of our key
facilities; our ability to successfully manage our senior management
transitions; our ability to retain, recruit and hire key executives or the
departure of any such executives, technical personnel and other employees in the
positions and numbers, with the experience and capabilities, and at the
compensation levels needed to implement our business and product plans; the
timing, rescheduling or cancellation of significant customer orders and our
ability, as well as the ability of our customers, to manage inventory; other
economic, social, military and geopolitical conditions in the countries in which
we, our customers or our suppliers operate, including the conflicts in Ukraine,
Iran and other regions in the Middle East, possible disruptions in
transportation networks, and fluctuations in foreign currency exchange rates;
the effects of global health crises on business conditions in our industry,
including the risk of significant disruptions to our business operations, as
well as negative impacts to our financial condition; our ability to prevent
theft of our intellectual property, disclosure of confidential information or
breaches of our information technology systems; uncertainties of litigation,
including potential disputes over intellectual property infringement and rights,
as well as payments related to the licensing and/or sale of such rights; our
ability to continue to grow and maintain an intellectual property portfolio and
obtain needed licenses from third parties; our ability to make certain
investments and acquisitions, integrate companies we acquire and/or enter into
strategic alliances; and other risks and uncertainties, including those detailed
from time to time in our filings including the Joint Proxy Statement/Prospectus
our Form 10-K, with the Securities and Exchange Commission. While the factors
identified here and in our Form 10-K are considered representative, no such list
should be considered a complete statement of all potential risks and
uncertainties. Unlisted factors may present significant additional obstacles to
the realization of forward-looking statements. Consequences of material
differences in results as compared with those anticipated in the forward-looking
statements could include, among other things, business disruption, operational
problems, financial loss, legal liability to third parties and similar risks,
any of which could have a material adverse effect on our consolidated financial
condition, results of operations or liquidity.
The forward-looking statements contained in this earnings release are made only
as of the date hereof, and we undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, should circumstances change, except as otherwise required
by securities or other applicable laws.
Note to Editors: Skyworks, Qorvo, the Skyworks symbol, and the Qorvo symbol are
trademarks or registered trademarks of Skyworks Solutions, Inc. or its
subsidiaries in the United States and other countries. Third-party brands and
names are for identification purposes only and are the property of their
respective owners.
SKYWORKS SOLUTIONS, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in
milli…
except
per Three Octob… Twelve Octob…
share Months 2, October Months October 3,
amoun… Ended 2026 3, 2025 Ended 2, 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net $ 1,045… $ 1,100.2 $ 3,959.6 $ 4,086…
reve…
Cost
of 618.3 652.6 2,344.7 2,404…
goods
sold
Gross 427.4 447.6 1,614.9 1,682…
prof…
Oper…
expe…
Rese…
and 213.5 223.1 837.0 785.5
deve…
Sell…
gene… 109.3 111.7 436.1 371.5
and
admi…
Amor…
of 0.2 0.2 0.9 0.9
inta…
Rest…
impa…
and 82.1 1.6 124.2 24.2
other
char…
Total
oper… 405.1 336.6 1,398.2 1,182…
expe…
Oper… 22.3 111.0 216.7 500.0
inco…
Inte… -21.5 -6.8 -41.3 -27.1
expe…
Other
inco… 9.0 17.8 38.3 53.8
net
Inco…
befo… 9.8 122.0 213.7 526.7
inco…
taxes
Prov…
(ben…
for -13.6 -19.4 41.6 49.6
inco…
taxes
Net $ 23.4 $ 141.4 $ 172.1 $ 477.1
inco…
Earn…
per
shar…
Basic $ 0.16 $ 0.95 $ 1.15 $ 3.09
Dilu… $ 0.15 $ 0.94 $ 1.14 $ 3.08
Weig…
aver…
shar…
Basic 149.7 148.6 150.0 154.4
Dilu… 151.5 149.8 151.0 155.1
SKYWORKS SOLUTIONS, INC.
UNAUDITED RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
Thr… Oct… Oct… Twe… Oct… Oct…
(in Mon… 2, 3, Mon… 2, 3,
mil… End… 2026 2025 End… 2026 2025
──────────────────────────────────────────────────────────────────────────────
GA…
gr… $ 427… $ 447… $ 1,6… $ 1,6…
pr…
Sh…
co… 3.2 8.0 37.2 29.5
ex…
Am…
of 34.0 37.6 139… 152…
ac…
in…
Re…
and — 18.1 — 43.2
ot…
ch…
No…
gr… $ 464… $ 511… $ 1,7… $ 1,9…
pr…
GA…
gr… 40.9 % 40.7 % 40.8 % 41.2 %
ma…
%
No…
gr… 44.4 % 46.5 % 45.3 % 46.7 %
ma…
%
Thr… Twe…
Mon… Mon…
End… End…
(in Oct… Oct… Oct… Octo…
mi… 2, 3, 2, 3,
2026 2025 2026 2025
GA…
op… $ 22.3 $ 111… $ 216… $ 500…
in…
Sh…
co… 49.5 63.5 218… 232…
ex…
Ac… 35.7 1.9 132… 5.4
ex…
Am…
of 34.2 37.8 140… 153…
ac…
in…
Se…
ga…
lo… 66.4 21.4 67.8 19.5
and
im…
Re…
and 19.1 28.4 73.3 84.7
ot…
ch…
No…
op… $ 227… $ 264… $ 849… $ 995…
in…
GA…
op… 2.1 % 10.1 % 5.5 % 12.2 %
ma…
%
No…
op… 21.7 % 24.0 % 21.5 % 24.4 %
ma…
%
Thr… Twe…
Mon… Mon…
End… End…
(in Oct… Oct… Oct… Octo…
mi… 2, 3, 2, 3,
2026 2025 2026 2025
GA…
net $ 23.4 $ 141… $ 172… $ 477…
in…
Sh…
co… 49.5 63.5 218… 232…
ex…
Ac… 35.7 1.9 132… 5.4
ex…
Am…
of 34.2 37.8 140… 153…
ac…
in…
Se…
ga…
lo… 66.4 21.4 67.8 19.5
and
im…
Re…
and 19.1 28.4 73.3 84.7
ot…
ch…
Tax -35… -30… -43… -53…
ad…
No…
net $ 193… $ 263… $ 762… $ 919…
in…
Thr… Twe…
Mon… Mon…
End… End…
Oct… Oct… Oct… Octo…
2, 3, 2, 3,
2026 2025 2026 2025
GA…
net
in… $ 0.15 $ 0.94 $ 1.14 $ 3.08
per
sh…
di…
Sh…
co… 0.33 0.42 1.45 1.50
ex…
Ac… 0.24 0.01 0.88 0.03
ex…
Am…
of 0.23 0.25 0.93 0.99
ac…
in…
Se…
ga…
lo… 0.44 0.14 0.45 0.12
and
im…
Re…
and 0.13 0.19 0.49 0.55
ot…
ch…
Tax -0.… -0.… -0.… -0.…
ad…
No…
net
in… $ 1.28 $ 1.76 $ 5.05 $ 5.93
per
sh…
di…
Thr… Twe…
Mon… Mon…
End… End…
(in Oct… Oct… Oct… Octo…
mi… 2, 3, 2, 3,
2026 2025 2026 2025
GA…
net
ca…
pr… $ 33.7 $ 200… $ 549… $ 1,3…
by
op…
ac…
Ca… -94… -56… -32… -19…
ex…
No…
fr… $ -61… $ 144… $ 229… $ 1,1…
ca…
fl…
GA…
net
ca…
pr…
by 3.2 % 18.2 % 13.9 % 31.8 %
op…
ac…
ma…
%
No…
fr…
ca… -5.8 % 13.1 % 5.8 % 27.1 %
fl…
ma…
%
SKYWORKS SOLUTIONS, INC.
DISCUSSION REGARDING THE USE OF NON-GAAP FINANCIAL MEASURES
Our earnings release contains some or all of the following financial measures
that have not been calculated in accordance with United States Generally
Accepted Accounting Principles (“GAAP”): (i) non-GAAP gross profit and gross
margin, (ii) non-GAAP operating income and operating margin, (iii) non-GAAP net
income, (iv) non-GAAP diluted earnings per share, and (v) non-GAAP free cash
flow and free cash flow margin. As set forth in the “Unaudited Reconciliations
of Non-GAAP Financial Measures” table found above, we derive such non-GAAP
financial measures by excluding certain expenses and other items from the
respective GAAP financial measure that is most directly comparable to each non-
GAAP financial measure. Management uses these non-GAAP financial measures to
evaluate our operating performance and compare it against past periods, make
operating decisions, forecast for future periods, compare our operating
performance against peer companies, and determine payments under certain
compensation programs. These non-GAAP financial measures provide management with
additional means to understand and evaluate the operating results and trends in
our ongoing business by eliminating certain non-recurring expenses and other
items that management believes might otherwise make comparisons of our ongoing
business with prior periods and competitors more difficult, obscure trends in
ongoing operations, or reduce management’s ability to make forecasts.
We provide investors with non-GAAP gross profit and gross margin, non-GAAP
operating income and operating margin, non-GAAP net income, non-GAAP diluted
earnings per share, and non-GAAP free cash flow and free cash flow margin
because we believe it is important for investors to be able to closely monitor
and understand changes in our ability to generate income from ongoing business
operations. We believe these non-GAAP financial measures give investors an
additional method to evaluate historical operating performance and identify
trends, an additional means of evaluating period-over-period operating
performance and a method to facilitate certain comparisons of our operating
results to those of our peer companies. We believe that providing non-GAAP
operating income and operating margin allows investors to assess the extent to
which our ongoing operations impact our overall financial performance. We also
believe that providing non-GAAP net income and non-GAAP diluted earnings per
share allows investors to assess the overall financial performance of our
ongoing operations by eliminating the impact of share-based compensation
expense, acquisition-related expenses, amortization of acquisition-related
intangibles, settlements, gains, losses, and impairments, restructuring-related
charges, and certain tax items which may not occur in each period presented and
which may represent non-cash items unrelated to our ongoing operations. We
further believe that providing non-GAAP free cash flow and free cash flow margin
provide insight into our liquidity, our cash-generating capability, and the
amount of cash potentially available to return to shareholders. We believe that
disclosing these non-GAAP financial measures contributes to enhanced financial
reporting transparency and provides investors with added clarity about complex
financial performance measures.
We calculate non-GAAP gross profit by excluding from GAAP gross profit, share-
based compensation expense, amortization of acquisition-related intangibles, and
restructuring and other charges. We calculate non-GAAP operating income by
excluding from GAAP operating income, share-based compensation expense,
acquisition-related expenses, amortization of acquisition-related intangibles,
settlements, gains, losses, and impairments, and restructuring-related charges.
We calculate non-GAAP net income and diluted earnings per share by excluding
from GAAP net income and diluted earnings per share, share-based compensation
expense, acquisition-related expenses, amortization of acquisition-related
intangibles, settlements, gains, losses, and impairments, restructuring-related
charges, and certain tax items. We calculate non-GAAP free cash flow by
deducting capital expenditures from GAAP net cash provided by operating
activities. We exclude certain items identified above from the respective non-
GAAP financial measure referenced above for the reasons set forth with respect
to each such excluded item below:
Share-Based Compensation Expense - because (1) the total amount of expense is
partially outside of our control because it is based on factors such as stock
price volatility and interest rates, which may be unrelated to our performance
during the period in which the expense is incurred, (2) it is an expense based
upon a valuation methodology premised on assumptions that vary over time, and
(3) the amount of the expense can vary significantly between companies due to
factors that can be outside of the control of such companies.
Acquisition-Related Expenses and Amortization of Acquisition-Related Intangibles
- including such items as, when applicable, fair value adjustments to contingent
consideration, fair value charges incurred upon the sale of acquired inventory,
acquisition-related expenses, and amortization of acquired intangible assets
because they are not considered by management in making operating decisions and
we believe that such expenses do not have a direct correlation to our future
business operations and thereby including such charges does not necessarily
reflect the performance of our ongoing operations for the period in which such
charges or reversals are incurred.
Settlements, Gains, Losses, and Impairments - because such settlements, gains,
losses, and impairments (1) are not considered by management in making operating
decisions, (2) are infrequent in nature, (3) are generally not directly
controlled by management, (4) do not necessarily reflect the performance of our
ongoing operations for the period in which such charges are recognized, and/or
(5) can vary significantly in amount between companies and make comparisons less
reliable.
Restructuring and Other Charges - because these charges have no direct
correlation to our future business operations and including such charges or
reversals does not necessarily reflect the performance of our ongoing operations
for the period in which such charges or reversals are incurred.
Certain Income Tax Items - including certain deferred tax charges and benefits
that do not result in a current tax payment or tax refund and other adjustments,
including but not limited to, items unrelated to the current fiscal year or that
are not indicative of our ongoing business operations. Skyworks uses a
normalized tax rate in its computation of the non-GAAP income tax provision to
provide better consistency across reporting periods and to align with its recent
historical average of current taxes. For fiscal 2026 , Skyworks will apply a
non-GAAP tax rate of 10%, which reflects current taxes relative to non-GAAP pre-
tax income after applying certain non-GAAP tax adjustments.
The non-GAAP financial measures presented in the table above should not be
considered in isolation and are not an alternative for the respective GAAP
financial measure that is most directly comparable to each such non-GAAP
financial measure. Investors are cautioned against placing undue reliance on
these non-GAAP financial measures and are urged to review and consider carefully
the adjustments made by management to the most directly comparable GAAP
financial measures to arrive at these non-GAAP financial measures. Non-GAAP
financial measures may have limited value as analytical tools because they may
exclude certain expenses that some investors consider important in evaluating
our operating performance or ongoing business performance. Further, non-GAAP
financial measures may have limited value for purposes of drawing comparisons
between companies as a result of different companies potentially calculating
similarly titled non-GAAP financial measures in different ways because non-GAAP
measures are not based on any comprehensive set of accounting rules or
principles.
Our earnings release contains forward-looking estimates of non-GAAP diluted
earnings per share for the first quarter of our 2027 fiscal year (“Q1 2027”). We
provide this non-GAAP measure to investors on a prospective basis for the same
reasons (set forth above) that we provide it to investors on a historical basis.
We are unable to provide a reconciliation of our forward-looking estimate of Q1
2027 GAAP diluted earnings per share to a forward-looking estimate of Q1 2027
non-GAAP diluted earnings per share because certain information needed to make a
reasonable forward-looking estimate of GAAP diluted earnings per share for Q1
2027 (other than estimated share-based compensation expense of $0.40 to $0.60
per diluted share, estimated amortization of intangibles of $0.45 to $0.65 per
diluted share and certain tax items of -$0.15 to $0.20 per diluted share) is
difficult to predict and estimate and is often dependent on future events that
may be uncertain or outside of our control. Such events may include
unanticipated changes in our GAAP effective tax rate, unanticipated one-time
charges related to asset impairments (fixed assets, inventory, intangibles, or
goodwill), unanticipated acquisition-related expenses, unanticipated
settlements, gains, losses, and impairments, and other unanticipated non-
recurring items not reflective of ongoing operations. The probable significance
of these unknown items, in the aggregate, is estimated to be in the range of
$0.20 to $0.40 in quarterly earnings per diluted share on a GAAP basis. Our
forward-looking estimates of both GAAP and non-GAAP measures of our financial
performance may differ materially from our actual results and should not be
relied upon as statements of fact.
[a] The following table summarizes the expense recognized in accordance with ASC
718 - Compensation, Stock Compensation (in millions):
Three Twelve
Months October October Months October October
Ended 2, 2026 3, 2025 Ended 2, 2026 3, 2025
──────────────────────────────────────────────────────────────────────────────
Cost
of $ 3.2 $ 8.0 $ 37.2 $ 29.5
goods
sold
Resea…
and 33.3 40.9 129.7 126.9
devel…
Selli…
gener… 13.0 14.6 51.5 63.5
and
admin…
Restr…
impai…
and — — — 12.5
other
charg…
Total
share… $ 49.5 $ 63.5 $ 218.4 $ 232.4
compe…
SKYWORKS SOLUTIONS, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions) As of October 2, 2026 October 3, 2025
──────────────────────────────────────────────────────────────────────────────
Assets
Cash, cash
equivalents, $ 2,606.1 $ 1,388.4
and marketable
securities
Accounts 494.7 598.1
receivable, net
Inventory 1,070.0 754.7
Property,
plant, and 1,197.6 1,194.6
equipment, net
Goodwill and
intangible 2,810.4 2,985.7
assets, net
Other assets 1,258.0 995.5
Total assets $ 9,436.8 $ 7,917.0
Liabilities and
Equity
Accounts $ 301.8 $ 236.0
payable
Accrued and
other 946.5 928.1
liabilities
Debt 2,472.8 995.8
Stockholders’ 5,715.7 5,757.1
equity
Total
liabilities and $ 9,436.8 $ 7,917.0
equity
SKYWORKS SOLUTIONS, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Octob… Twelve Octob…
(in Months 2, October Months October 3,
milli… Ended 2026 3, 2025 Ended 2, 2026 2025
──────────────────────────────────────────────────────────────────────────────
Cash
flows
from
oper…
acti…
Net $ 23.4 $ 141.4 $ 172.1 $ 477.1
inco…
Adju…
to
reco…
net
inco…
to
net
cash
prov…
by
oper…
acti…
Shar… 49.5 63.5 218.4 232.4
comp…
Depr… 73.0 72.4 289.1 278.7
Amor…
of 43.0 44.5 173.4 184.3
inta…
asse…
Defe…
inco… -98.2 -76.9 -90.6 -55.8
taxes
Asset
impa… 66.2 — 66.2 —
char…
Amor…
of
debt
disc… 1.0 0.5 2.4 1.9
and
issu…
costs
Othe… -0.7 -5.8 -3.5 -11.0
net
Chan…
in
asse…
and
liab…
Rece… -146.5 -201.9 103.5 -89.3
net
Inve… -48.7 -43.4 -316.7 41.8
Acco… 24.8 34.5 54.8 67.1
paya…
Other
curr…
and
long… 46.9 171.2 -119.2 173.6
asse…
and
liab…
Net
cash
prov… 33.7 200.0 549.9 1,300…
by
oper…
acti…
Cash
flows
from
inve…
acti…
Capi… -94.7 -56.0 -320.6 -195.0
expe…
Purc… -10.8 -5.8 -30.5 -29.9
inta…
Purc…
of -19.0 -217.5 -47.7 -633.5
mark…
secu…
Sales
and
matu… 27.6 144.3 260.2 618.3
of
mark…
secu…
Other 1.0 3.9 4.3 6.1
Net
cash
used -95.9 -131.1 -134.3 -234.0
in
inve…
acti…
Cash
flows
from
fina…
acti…
Repu…
of
comm…
stock
-
payr… -1.3 -1.0 -42.9 -44.4
tax
with…
on
equi…
awar…
Repu…
of
comm…
stock -107.0 — -114.5 -830.2
-
stock
repu…
prog…
Divi… — -105.6 -320.1 -432.6
paid
Proc…
from
empl… 11.6 13.1 32.8 33.1
stock
purc…
plan
Proc…
from
issu…
of 1,979… — 1,979.9 —
long…
debt,
net
Debt
fina… -4.9 — -6.0 —
costs
Paym…
of — — -500.0 —
debt
Net
cash
prov…
by 1,878… -93.5 1,029.2 -1,27…
(used
in)
fina…
acti…
Net
incr…
(dec…
in 1,816… -24.6 1,444.8 -207.3
cash
and
cash
equi…
Cash
and
cash
equi… 790.0 1,185.9 1,161.3 1,368…
at
begi…
of
peri…
Cash
and
cash
equi… $ 2,606… $ 1,161.3 $ 2,606.1 $ 1,161…
at
end
of
peri…