CIRRUS LOGIC, INC.

Cirrus Logic, Inc.

Core business

• Fabless semiconductor company designing low-power, high-precision mixed-signal processing solutions for mobile and consumer applications.
• Primary product lines: Audio and High-Performance Mixed-Signal (HPMS).
• Audio products include amplifiers, codecs, smart codecs, ADCs, DACs, and standalone DSPs. HPMS offerings include camera controllers, haptics and sensing solutions, and battery/power ICs serving automotive, industrial, and imaging markets.
• Technology and software: SoundClear software and tools to improve audio experiences.

Markets and customers

• Target markets: smartphones and related consumer electronics (PCs, tablets, AR/VR headsets, wearables, home theater, automotive entertainment) and HPMS-relevant applications.
• International sales represented 99% of net sales in fiscal years 2026, 2025, and 2024.
• Customer concentration:
  • The ten largest end customers accounted for about 96%, 96%, and 95% of net sales in fiscal years 2026, 2025, and 2024, respectively.
  • A single end customer, Apple Inc., purchased through multiple contract manufacturers and accounted for about 91%, 89%, and 87% of total net sales in fiscal years 2026, 2025, and 2024, respectively.

Manufacturing and supply chain

• Operates a fabless model and relies on third-party wafer fabrication and assembly/test providers.
• Primary foundries: GlobalFoundries and Taiwan Semiconductor Manufacturing Company (TSMC).
• Long-term wafer supply arrangement with GlobalFoundries in place through 2026, including an amendment in February 2025 to adjust quarterly wafer quantities for 2025–2026.
• Primary assembly/test partners: Advanced Semiconductor Engineering, Amkor Technology, STATS ChipPAC, SFA Semicon, and Siliconware Precision Industries.
• Supply-chain risks include dependence on third-party foundries, potential supply disruption, pricing and capacity constraints, geopolitical and foreign supply-chain risks, and possible transfers of production to backup suppliers.

Intellectual property

• As of March 28, 2026, held approximately 4,340 pending and issued patents worldwide (about 1,620 U.S. granted patents and 430 U.S. pending patent applications, plus international patents and applications).
• U.S. patents expire between 2026 and 2046.
• Trademarks include CIRRUS LOGIC, CIRRUS, Cirrus Logic logo designs, and SoundClear.
• The company licenses various third‑party IP and expects to continue licensing.

Strategy and operations

• Strategy pillars:
  1. Maintain leadership in smartphone audio.
  2. Increase HPMS content in smartphones.
  3. Use audio and HPMS IP to expand into additional applications and markets with existing or new components.
• Product development emphasizes close engagement with customer product teams, differentiated components, and programmable elements combining hardware and software/IP.
• Revenue is reported across two product lines (Audio and HPMS) within one reportable segment; end-customer and geographic mix are concentrated among a few large customers and international markets.

Employees and human capital (as of March 28, 2026)

• Total employees: 1,668 (99% full-time).
• Role distribution: 71% research and product development; 24% sales, marketing, general and administrative; 5% manufacturing.
• Workforce composition: 14% foreign nationals; 64% based in the U.S.; 36% offshore.
• Gender and U.S. racial/ethnic composition: 81% male, 19% female; U.S. workforce — White 51%, Asian 36%, Hispanic/Latino 8%, Black/African American 2%, Other 3%.
• Turnover in fiscal 2026: 7% voluntary turnover.

Other notes

• Public listing: NASDAQ Global Select Market, ticker CRUS.
• Headquarters: Austin, Texas (primary facility houses engineering, sales/marketing, and administration).
• The company provides ESG and other disclosures on its website.