Qorvo® Announces Fiscal 2024 Second Quarter Financial Results

QORVO, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(Unaudited)
 
  Three Months Ended
(in thousands, except percentages) September 30, 2023  July 1, 2023  October 1, 2022
GAAP gross profit/margin$489,690   44.4% $229,070   35.2% $538,927   46.5%
Amortization of intangible assets 25,591   2.3   26,489   4.1   27,574   2.4 
Stock-based compensation expense 7,481   0.7   4,949   0.7   3,704   0.3 
Restructuring related charges 2,482    0.2       18,955       2.9              
Acquisition and integration related costs   1             1             35        
Non-GAAP gross profit/margin $ 525,245       47.6 %   $ 279,464       42.9 %   $ 570,240       49.2 %
                                               

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