Q2 2025 Qorvo Inc Earnings Call Transcript
Key Points
- Qorvo Inc (QRVO) reported a sequential revenue increase of 18% to $1,047 million, exceeding the midpoint of their guidance range.
- Non-GAAP gross margin matched the high end of the guidance range at 47%, indicating strong operational efficiency.
- The company is investing in growth areas such as defense and aerospace, power management, automotive solutions, and next-gen WiFi, which are expected to drive future growth.
- Qorvo Inc (QRVO) secured significant design wins in the automotive market, including V2X design wins with major automotive OEMs.
- The company is executing on cost and productivity initiatives, including the transition to 8-inch BAW and consolidation of production facilities, to enhance gross margin and reduce capital intensity.
- Qorvo Inc (QRVO) expects fiscal 2025 revenue to be slightly down compared to fiscal 2024, primarily due to challenges in the smartphone business.
- The mix shift in the Android ecosystem from mid-tier to entry-tier 5G smartphones is negatively impacting revenue and margins.
- The company is experiencing underutilization charges, which are expected to increase in the coming quarters, affecting gross margins.
- Qorvo Inc (QRVO) is facing competitive pressures in the Android market, leading to a reduction in their total addressable market and revenue opportunities.
- The company is evaluating strategic alternatives for its silicon carbide business, indicating potential challenges in this segment.
Good day, and welcome to the Qorvo, Inc., second quarter 2025, earnings conference call. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Mr. Douglas DeLieto, Vice President of Investor Relations. Please go ahead, sir.
Thanks very much. Hello, everyone, and welcome to Qorvo's fiscal 2025, second quarter earnings call. This call will include forward-looking statements that involve risk factors that could cause our actual results to differ materially from management's current expectations.
We encourage you to review the safe harbor statement contained in our earnings release published today as well as the risk factors associated with our business in our annual report on Form 10-K filed with the SEC because these risk factors may affect our operations and financial results.
In today's release and on today's call, we provide both GAAP and non-GAAP financial results. We provide this supplemental information to
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