Qorvo — Jan 28, 2025 release

These actions will reduce operating expense and are expected to benefit gross margin in our fiscal 2026. Subsequent to the quarter, we divested our silicon carbide business. These actions, in aggregate, are expected to support a high-40%'s gross margin in seasonally strong quarters of fiscal 2026 and additional gross margin improvement in fiscal 2027." Qorvo’s current outlook for the March 2025 quarter is: • Quarterly revenue of approximately $850 million, plus or minus $25 million 1 • Non-GAAP gross margin between 43% and 44% • Non-GAAP diluted earnings per share between $0.90 and $1.10 1 Includes immaterial silicon carbide revenue, versus silicon carbide revenue of approximately $9 million in the December 2024 quarter. 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) Q3 Fiscal 2025 Q2 Fiscal 2025 Q3 Fiscal 2024 Sequential Change Year-over-Year Change Revenue $ 916.3  $ 1,046.5  $ 1,073.9  $ (130.2) $ (157.6) Gross profit $ 391.4  $ 445.3  $ 3