Qorvo — Oct 29, 2024 release

We currently expect full-year fiscal 2025 revenue and gross margin will be slightly down versus fiscal 2024." Qorvo’s current outlook for the December 2024 quarter is: • Quarterly revenue of approximately $900 million, plus or minus $25 million • Non-GAAP gross margin of approximately 45% • Non-GAAP diluted earnings per share between $1.10 and $1.30 See "Forward-looking non-GAAP financial measures" below. Qorvo's actual quarterly results may differ from these expectations and projections, and such differences may be material. Selected Financial Information The following tables set forth selected GAAP and non-GAAP financial information for Qorvo for the periods indicated. See the more detailed financial information for Qorvo, including reconciliations of GAAP and non-GAAP financial information, attached. SELECTED GAAP RESULTS (In millions, except for percentages and EPS) (Unaudited) Q2 Fiscal 2025 Q1 Fiscal 2025 Q2 Fiscal 2024 Sequential Change Year-over-Year Change Revenue $ 1,046.5  $ 886.7  $ 1,103.5  $ 159.8 $ (57.0) Gross profit $ 445.3  $ 332.3  $ 489.7  $ 113.0 $ (44.4) Gross margin 42.6  % 37.5  % 44.4  % 5.1 ppt (1.8) ppt Operating expenses $ 435.6  $ 327.7  $ 338.3  $ 107.9 $ 97.3 Operating income $ 9.7  $ 4.6  $ 151.4  $ 5.1 $ (141.7) Net (loss) income $ (17.4) $ 0.4  $ 97.5  $ (17.8) $ (114.9) Weighted-average diluted shares 94.9  96.5  98.6  (1.6) (3.7) Diluted EPS (loss per share) $ (0.18) $ 0.00  $ 0.99  $ (0.18) $ (1.17) SELECTED NON-GAAP RESULTS (1)