| QORVO, INC. AND SUBSIDIARIES | |||||||||||||||
| RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended | |||||||||||||||
| (in thousands, except percentages) | December 30, 2023 | September 30, 2023 | December 31, 2022 | ||||||||||||
| GAAP gross profit/margin | $ | 387,878 | 36.1 | % | $ | 489,690 | 44.4 | % | $ | 268,051 | 36.1 | % | |||
| Charges associated with a long-term capacity reservation agreement | 51,864 | 4.8 | — | — | — | — | |||||||||
| Amortization of intangible assets | 25,457 | 2.4 | 25,591 | 2.3 | 27,624 | 3.7 | |||||||||
| Stock-based compensation expense | 5,575 | 0.5 | 7,481 | 0.7 | 4,939 | 0.6 | |||||||||
| Restructuring-related charges | (250 | ) | — | 2,482 | 0.2 | 3,600 | 0.5 | ||||||||
| Acquisition and integration-related costs | 1 | — | 1 | — | 28 | — | |||||||||
| Non-GAAP gross profit/margin | $ | 470,525 | 43.8 | % | $ | 525,245 | 47.6 | % | $ | 304,242 | 40.9 | % | |||
Qorvo® Announces Fiscal 2024 Third Quarter Financial Results
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