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Qorvo, Inc. (Nasdaq: QRVO) is a leading provider of innovative radio frequency (RF) solutions. The company is committed to creating a better world through advanced connectivity. Established from the merger of RF Micro Devices and TriQuint Semiconductor in January 2015, Qorvo specializes in RF filters, power amplifiers, and front-end modules that are essential components in high-end wireless devices, including some of the world's most advanced smartphones.
Qorvo's product range extends beyond smartphones to include applications in wireless base stations, cable TV, networking equipment, and critical infrastructure for military and defense purposes. The company leverages its competitive strengths to advance emerging technologies such as 5G networks, cloud computing, and the Internet of Things (IoT), playing a crucial role in the global framework that interconnects people, places, and things.
Qorvo's strategic market segments include consumer electronics, smart home/IoT, automotive sectors like electric vehicles (EVs) and battery-powered appliances, as well as network infrastructure and aerospace/defense. The company’s robust product portfolio aims to meet the growing demands for efficiency, latency, and throughput across these diverse markets.
Recently, Qorvo has been active in expanding its operational capabilities. In fiscal 2024, Qorvo achieved significant content gains with key mobile customers and strong revenue growth in its defense and aerospace business. The company also acquired Anokiwave, aiming to accelerate the adoption of their innovative technologies and integrate them with Qorvo's own RF and power management solutions.
Financially, Qorvo reported a GAAP revenue of $1.074 billion for the fiscal 2024 third quarter, demonstrating strong execution and alignment with market demand. Additionally, the company has taken steps to optimize its capital expenditure and improve its gross margin profile, including the sale of its Beijing and Dezhou assembly and test facilities to Luxshare Precision Industry Co., Ltd., under a long-term supply agreement.
Qorvo continues to innovate and adapt in a competitive industry, focusing on long-term growth strategies and content gains at major customers to improve financial performance. The company's management emphasizes the importance of non-GAAP financial measures to better represent the ongoing operational performance, excluding certain costs and adjusting for non-cash expenses.
With a commitment to product and technology leadership, global manufacturing scale, and systems-level expertise, Qorvo is well-positioned to solve complex technical challenges for its customers, ensuring their success and supporting global connectivity.
Qorvo (Nasdaq:QRVO) announced the appointment of Alan S. Lowe to its Board of Directors and Audit Committee, effective November 11, 2024. Lowe currently serves as president and CEO of Lumentum Holdings, a designer and manufacturer of optical and photonic products. Prior to joining Lumentum in 2015, he held executive positions at Viavi Solutions, including senior vice president of the Lasers business and executive vice president of communications and commercial optical products business.
Cambridge GaN Devices (CGD) and Qorvo (QRVO) have partnered to create the PAC5556A + ICeGaN® evaluation kit, combining Qorvo's BLDC/PMSM motor controller/driver with CGD's ICeGaN ICs. The collaboration aims to enhance motor control applications with improved efficiency and power density. The PAC5556AEVK2 achieves 400W peak performance without a heatsink, while PAC5556AEVK3 reaches 800W peak with minimal cooling. The solution targets industrial and home automation applications, particularly in white goods, ceiling fans, refrigerators, compressors, and pumps.
Qorvo has been chosen by MediaTek as a key supplier for Wi-Fi 7 front-end modules (FEMs) used in the MediaTek MT6653 Wi-Fi 7/Bluetooth combo chip for the Dimensity 9400 platform. The Wi-Fi 7 FEMs are designed to deliver enhanced performance, power efficiency, and technical features in mobile devices. Qorvo offers the industry's most comprehensive portfolio of Wi-Fi 7 FEMs for mobile applications, featuring multiple transmit modes and supporting both linear and non-linear architectures. Volume shipments will begin in Q4 2024.
Qorvo (QRVO) reported fiscal 2025 Q2 results with revenue of $1.047 billion. GAAP gross margin was 42.6% with operating income of $9.7 million and a loss per share of $0.18. Non-GAAP figures showed stronger performance with 47.0% gross margin, $212.2 million operating income, and $1.88 earnings per share. The company faces challenges in smartphone market mix, particularly in Android 5G segments. For Q3 FY2025, Qorvo forecasts revenue around $900 million with non-GAAP gross margin of 45% and earnings per share between $1.10-$1.30. Management expects full-year fiscal 2025 revenue and gross margin to be slightly lower than fiscal 2024.
Qorvo (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, has announced its upcoming fiscal 2025 second quarter earnings conference call. The call is scheduled for Tuesday, October 29, 2024, at 5:00 p.m. (ET). Investors and interested parties can access the live webcast on Qorvo's Investor Relations website at https://ir.qorvo.com under the 'Events & Presentations' section.
The company will release its fiscal 2025 second quarter financial results at approximately 4:00 p.m. (ET) on the same day. For those unable to attend the live call, a telephone playback will be available about two hours after the call's completion. The playback can be accessed by dialing 1-412-317-0088 and using the passcode 2723791. This replay option will be available through November 5, 2024.
Qorvo (Nasdaq: QRVO), a global leader in connectivity and power solutions, has announced its participation in the upcoming Goldman Sachs Communacopia + Technology Conference. Company executives are scheduled to present on Tuesday, September 10, 2024, at 7:25 p.m. Eastern Time (4:25 p.m. Pacific Time).
Investors and interested parties can access a live webcast of the presentation through Qorvo's investor relations website at https://ir.qorvo.com under the 'Events & Presentations' section. This event provides an opportunity for Qorvo to showcase its latest innovations and strategies to a broad audience of industry professionals and investors.
Qorvo (Nasdaq:QRVO) reported its fiscal 2025 Q1 financial results, showing strong year-over-year growth. Key highlights include:
- Revenue of $887 million, up 36% YoY
- GAAP gross margin of 37.5%
- Non-GAAP gross margin of 40.9%
- Non-GAAP diluted EPS of $0.87
The company successfully integrated Anokiwave, enhancing its product portfolio. For Q2 FY2025, Qorvo expects:
- Revenue of ~$1.025 billion (±$25 million)
- Non-GAAP gross margin between 46-47%
- Non-GAAP diluted EPS between $1.75-$1.95
Qorvo is focusing on technology leadership and cost optimization to drive growth and improve margins.
Qorvo (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, has announced its upcoming fiscal 2025 first quarter earnings conference call. The event is scheduled for Tuesday, July 30, 2024, at 5:00 p.m. (ET). Investors and interested parties can access the live webcast on Qorvo's Investor Relations website. The company will release its financial results for the quarter at approximately 4:00 p.m. (ET) on the same day. For those unable to attend the live call, a telephone playback will be available about two hours after the call's conclusion, accessible by dialing 1-412-317-0088 with the passcode 1263601. The playback will remain available until the close of business on August 6, 2024.
Cambridge GaN Devices (CGD) and Qorvo have announced a collaboration to develop an evaluation kit (EVK) and reference design for motor control applications using GaN power ICs. This initiative aims to improve power efficiency, compactness, and reliability in BLDC and PMSM systems. Qorvo’s PAC5556A motor/control IC, featuring CGD’s ICeGaN technology, will be the centerpiece of the EVK. GaN technology offers benefits such as low losses, high efficiency, and reduced thermal management needs. The EVK RD5556GaN will be available for purchase in Q3 2024 and will be showcased at the PCIM exhibition in June 2024.
Qorvo, a global leader in connectivity and power solutions, will host an Investor Day on June 11, 2024, in New York City starting at 8:30 a.m. ET. The event will be webcast live on Qorvo's website, and a replay will be available post-event. Institutional investors and analysts can register to attend via email.
This event provides an opportunity for investors to gain insights into Qorvo's strategies, business developments, and financial performance. For further details and registration, visit Qorvo's IR website.
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