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QORVO, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In thousands, except per share data) (Unaudited) | |||||||||||
| Three Months Ended | |||||||||||
| September 30, 2023 | July 1, 2023 | October 1, 2022 | |||||||||
| GAAP operating income (loss) | $ | 151,428 | $ | (48,136 | ) | $ | 261,562 | ||||
| Stock-based compensation expense | 39,053 | 38,445 | 31,789 | ||||||||
| Amortization of intangible assets | 29,963 | 30,872 | 32,787 | ||||||||
| Restructuring related charges | 8,418 | 22,736 | 4,544 | ||||||||
| Acquisition and integration related costs | 852 | 1,195 | 8,642 | ||||||||
| Goodwill impairment | 48,000 | — | — | ||||||||
| Other expenses (income) | 1,712 | 1,609 | (1,627 | ) | |||||||
| Non-GAAP operating income | $ | 279,426 | $ | 46,721 | $ | 337,697 | |||||
| GAAP net income (loss) | $ | 97,461 | $ | (43,580 | ) | $ | 188,615 | ||||
| Stock-based compensation expense | 39,053 | 38,445 | 31,789 | ||||||||
| Amortization of intangible assets | 29,963 | 30,872 | 32,787 | ||||||||
| Restructuring related charges | 8,418 | 22,736 | 4,544 | ||||||||
| Acquisition and integration related costs | 852 | 1,195 | 8,642 | ||||||||
| Goodwill impairment | 48,000 | — | — | ||||||||
| Other expenses (income) | 2,616 | (914 | ) | 2 | |||||||
| Loss (gain) on investments | 1,574 | (2,062 | ) | (967 | ) | ||||||
| Adjustment of income taxes | 7,576 | (13,114 | ) | 10,814 | |||||||
| Non-GAAP net income | $ | 235,513 | $ | 33,578 | $ | 276,226 | |||||
| GAAP weighted-average outstanding diluted shares | 98,590 | 98,509 | 103,674 | ||||||||
| Dilutive stock-based awards | — | 806 | — | ||||||||
| Non-GAAP weighted-average outstanding diluted shares | 98,590 | 99,315 | 103,674 | ||||||||
| Non-GAAP net income per share, diluted | $ | 2.39 | $ | 0.34 | $ | 2.66 | |||||
