|
QORVO, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In thousands, except per share data) (Unaudited) | |||||||||||
| Three Months Ended | |||||||||||
| September 28, 2024 | June 29, 2024 | September 30, 2023 | |||||||||
| GAAP operating income | $ | 9,675 | $ | 4,606 | $ | 151,428 | |||||
| Stock-based compensation expense | 38,181 | 42,366 | 39,053 | ||||||||
| Amortization of intangible assets | 29,482 | 30,474 | 29,963 | ||||||||
| Restructuring-related charges | 34,396 | 19,574 | 8,418 | ||||||||
| Acquisition and integration-related costs | 1,211 | 2,582 | 852 | ||||||||
| Goodwill impairment | 96,458 | — | 48,000 | ||||||||
| Other expense (income) | 2,811 | (1,477 | ) | 1,712 | |||||||
| Non-GAAP operating income | $ | 212,214 | $ | 98,125 | $ | 279,426 | |||||
| GAAP net (loss) income | $ | (17,435 | ) | $ | 414 | $ | 97,461 | ||||
| Stock-based compensation expense | 38,181 | 42,366 | 39,053 | ||||||||
| Amortization of intangible assets | 29,482 | 30,474 | 29,963 | ||||||||
| Restructuring-related charges | 34,396 | 19,574 | 8,418 | ||||||||
| Acquisition and integration-related costs | 1,211 | 2,582 | 852 | ||||||||
| Goodwill impairment | 96,458 | — | 48,000 | ||||||||
| Other expense (income) | 379 | (3,446 | ) | 2,616 | |||||||
| Loss on investments | 780 | 2,499 | 1,574 | ||||||||
| Adjustment of income taxes | (3,611 | ) | (10,939 | ) | 7,576 | ||||||
| Non-GAAP net income | $ | 179,841 | $ | 83,524 | $ | 235,513 | |||||
| GAAP weighted-average outstanding diluted shares | 94,886 | 96,510 | 98,590 | ||||||||
| Dilutive stock-based awards | 867 | — | — | ||||||||
| Non-GAAP weighted-average outstanding diluted shares | 95,753 | 96,510 | 98,590 | ||||||||
| Non-GAAP net income per share, diluted | $ | 1.88 | $ | 0.87 | $ | 2.39 | |||||
