Cirrus Logic (CRUS) Q3 FY2026 earnings: revenue $581 million, up 4.5% on the year

Cirrus Logic, Inc. (CRUS) reported revenue of $581 million for Q3 FY2026, the quarter ended 27 December 2025, up 4.5% on the same quarter a year earlier. Net income was $140 million, up 21.0% on the year, and diluted earnings per share $2.66. The figures are the company's own, from the 10-Q it filed with the SEC on 3 February 2026.

Revenue$581 millionup 4.5%

Net income$140 millionup 21.0%

Diluted EPS$2.66

QuarterQ3 FY2026ended 27 December 2025

The quarter, against the one before and a year earlier

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Revenue	581	561	556	+4.5%
Cost of revenue	272	267	258	+5.6%
Gross profit	308	294	298	+3.5%
Gross margin	53.1%	52.5%	53.6%
Research and development	114	110	113	+0.5%
Selling, general and administrative	41.6	39.6	39.0	+6.7%
Operating income	153	145	146	+4.9%
Operating margin	26.3%	25.8%	26.2%
Interest expense	0.2	0.2	0.2	+0.0%
Pre-tax income	162	153	154	+5.7%
Income tax	22.1	21.8	37.7	-41.3%
Effective tax rate	13.6%	14.2%	24.5%
Net income	140	132	116	+21.0%
Net margin	24.2%	23.5%	20.9%
Diluted EPS	$2.66	$2.48	$2.11	+26.1%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Operating cash flow	291	92.2	219	+33.1%
Capital expenditure	5.1	3.9	6.7	-23.9%
Free cash flow	286	88.3	212	+34.8%
Free cash flow margin	49.2%	15.7%	38.1%
Cash from investing	-6.6	-7.9	-39.1	n/a
Cash from financing	-99.7	-39.7	-98.8	n/a
Depreciation and amortisation	13.1	12.7	12.8	+2.0%
Share-based compensation	20.6	20.6	20.8	-1.3%
Buybacks	70.0	40.0	70.0	-0.1%
Diluted shares, weighted	53m	53m	55m	-4.3%
Shares outstanding at period end	51m	51m	53m	-4.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Shareholders' equity	2,103	2,042	1,963	+7.2%
Debt	0.0	0.0	n/a	n/a
Operating lease liabilities	118	121	125	-5.6%
Other liabilities	236	266	276	-14.5%
Total liabilities and equity	2,457	2,430	2,363	+3.9%
Fixed assets	148	151	164	-9.5%
Goodwill	436	436	436	+0.0%
Intangible assets	22.6	24.5	24.0	-5.6%
Securities held for sale or to maturity	304	303	290	+4.7%
Cash and equivalents	778	593	526	+47.8%
Receivables	279	355	262	+6.5%
Inventory	189	236	276	-31.2%
Other assets	299	330	385	-22.4%
Total assets	2,457	2,430	2,363	+3.9%

Quarterly results, the last 12 quarters

	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	481	619	372	374	542	556	424	407	561	581	449	460
Cost of revenue	234	302	179	185	259	258	198	193	267	272	211	218
Gross profit	247	317	193	189	283	298	227	214	294	308	238	242
Gross margin	51%	51%	52%	51%	52%	54%	53%	53%	52%	53%	53%	53%
R&D	104	113	103	105	113	113	103	103	110	114	107	115
SG&A	34.3	37.6	36.9	36.8	37.8	39.0	37.4	38.7	39.6	41.6	39.9	42.4
Operating income	106	168	52.4	46.8	132	146	85.9	72.4	145	153	90.3	84.4
Operating margin	22%	27%	14%	13%	24%	26%	20%	18%	26%	26%	20%	18%
Interest expense	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.3
Pre-tax income	109	172	59.7	56.6	140	154	94.6	80.6	153	162	100	94.2
Tax rate	31%	19%	25%	26%	27%	25%	25%	25%	14%	14%	18%	18%
Net income	75.4	139	44.8	42.1	102	116	71.3	60.7	132	140	81.8	76.9
Net margin	16%	22%	12%	11%	19%	21%	17%	15%	23%	24%	18%	17%
Diluted EPS	$1.34	$2.50	$0.81	$0.76	$1.83	$2.11	$1.31	$1.14	$2.48	$2.66	$1.56	$1.47
Operating cash flow	-22.7	314	171	87.2	8.2	219	130	116	92.2	291	151	64.1
Capital expenditure	8.5	9.8	7.1	10.0	2.7	6.7	3.4	2.6	3.9	5.1	2.4	15.1
Free cash flow	-31.2	304	163	77.2	5.6	212	127	113	88.3	286	149	49.0
Buybacks	40.6	56.9	50.0	41.0	50.0	70.0	100	100.0	40.0	70.0	70.0	31.5
Shares outstanding	54m	54m	53m	53m	53m	53m	52m	51m	51m	51m	51m	50m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 27 December 2025, filed 3 February 2026, accession 0000772406-26-000006: the filing on EDGAR. All of Cirrus Logic, Inc.'s filings: EDGAR company page.

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