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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 | % | |||||||||||
Qorvo® Announces Fiscal 2024 Second Quarter Financial Results
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