Qorvo's Q3 2025: $5B Assets, $1.8B Liabilities
Ticker: QRVO · Form: 10-Q · Filed: Jan 29, 2025 · CIK: 1604778
Sentiment: neutral
Topics: financials, balance-sheet, income-statement
TL;DR
Qorvo's Q3 2025: Assets $5B, Liabilities $1.8B. COGS $1.68B.
AI Summary
Qorvo, Inc. filed its 10-Q for the period ending December 28, 2024. The company reported total assets of $5.000 billion and total liabilities of $1.807 billion, resulting in total equity of $3.193 billion. For the nine months ended December 28, 2024, Qorvo's cost of goods and services sold was $1.684 billion.
Why It Matters
This filing provides a snapshot of Qorvo's financial health, showing significant assets and liabilities that impact its operational capacity and investment potential.
Risk Assessment
Risk Level: medium — The company has substantial liabilities relative to its equity, which could indicate financial leverage or potential risk.
Key Numbers
- $5.000B — Total Assets (As of December 28, 2024)
- $1.807B — Total Liabilities (As of December 28, 2024)
- $3.193B — Total Equity (As of December 28, 2024)
- $1.684B — Cost of Goods and Services Sold (Nine months ended December 28, 2024)
Key Players & Entities
- Qorvo, Inc. (company) — Filer of the 10-Q
- 20241228 (date) — End of reporting period
- $5,000,000,000 (dollar_amount) — Total assets
- $1,806,645,000 (dollar_amount) — Total liabilities
- $1,683,592,000 (dollar_amount) — Cost of goods and services sold for nine months ended 2024-12-28
FAQ
What was Qorvo's total revenue for the nine months ended December 28, 2024?
The provided snippet does not explicitly state total revenue, but it does list cost of goods and services sold as $1,683,592,000.
What is the company's net income for the period?
The filing snippet does not contain information on net income.
How has Qorvo's financial position changed compared to the previous fiscal year?
This 10-Q filing focuses on the current period ending December 28, 2024, and does not provide year-over-year comparative data in the snippet.
What are the main components of Qorvo's operating expenses?
The snippet references links to 'OperatingExpenses' and 'CostOfGoodsAndServicesSold' but does not detail the specific components of operating expenses.
What is the par value of Qorvo's common stock?
The filing indicates 'us-gaap:CommonStockMember' but does not specify the par value in the provided text.
Filing Stats: 4,671 words · 19 min read · ~16 pages · Grade level 14.5 · Accepted 2025-01-29 16:06:35
Key Financial Figures
- $0.0001 — ange on which registered Common Stock, $0.0001 par value QRVO The Nasdaq Stock Market
- $313 — counts receivable, net of allowances of $313 as of December 28, 2024 and March 30, 2
- $1,806,645 — ent, net of accumulated depreciation of $1,806,645 and $1,683,592 as of December 28, 2024
- $1,683,592 — umulated depreciation of $1,806,645 and $1,683,592 as of December 28, 2024 and March 30, 2
Filing Documents
- rfmd-20241228.htm (10-Q) — 1090KB
- qorvoincamendedandrestated.htm (EX-10.1) — 97KB
- exhibit2220241228.htm (EX-22) — 6KB
- exhibit31120241228.htm (EX-31.1) — 10KB
- exhibit31220241228.htm (EX-31.2) — 8KB
- exhibit32120241228.htm (EX-32.1) — 4KB
- exhibit32220241228.htm (EX-32.2) — 4KB
- rfmd-20241228_g1.jpg (GRAPHIC) — 20KB
- 0001604778-25-000017.txt ( ) — 6448KB
- rfmd-20241228.xsd (EX-101.SCH) — 32KB
- rfmd-20241228_cal.xml (EX-101.CAL) — 51KB
- rfmd-20241228_def.xml (EX-101.DEF) — 160KB
- rfmd-20241228_lab.xml (EX-101.LAB) — 527KB
- rfmd-20241228_pre.xml (EX-101.PRE) — 357KB
- rfmd-20241228_htm.xml (XML) — 879KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited). Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statements of Comprehensive Income (Loss) 6 Condensed Consolidated Statements of Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 22
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk. 32
Controls and Procedures
Item 4. Controls and Procedures. 32
— OTHER INFORMATION
PART II — OTHER INFORMATION
Risk Factors
Item 1A. Risk Factors. 33
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds . 33
Other Information
Item 5. Other Information. 33
Exhibits
Item 6. Exhibits. 34
SIGNATURES
SIGNATURES 35 3 Table of Contents
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS. QORVO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) (Unaudited) December 28, 2024 March 30, 2024 ASSETS Current assets: Cash and cash equivalents $ 769,432 $ 1,029,258 Accounts receivable, net of allowances of $313 as of December 28, 2024 and March 30, 2024 427,863 412,960 Inventories 656,216 710,555 Prepaid expenses 38,368 40,563 Other receivables 10,859 14,427 Other current assets 77,690 78,993 Assets of disposal group held for sale 116,435 159,278 Total current assets 2,096,863 2,446,034 Property and equipment, net of accumulated depreciation of $1,806,645 and $1,683,592 as of December 28, 2024 and March 30, 2024, respectively 820,874 870,982 Goodwill 2,437,234 2,534,601 Intangible assets, net 332,338 509,383 Long-term investments 25,692 23,252 Other non-current assets 250,095 170,383 Total assets $ 5,963,096 $ 6,554,635 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 283,341 $ 252,993 Accrued liabilities 268,335 336,767 Current portion of long-term debt — 438,740 Other current liabilities 227,110 113,215 Liabilities of disposal group held for sale 29,075 88,372 Total current liabilities 807,861 1,230,087 Long-term debt 1,549,230 1,549,272 Other long-term liabilities 225,572 218,904 Total liabilities 2,582,663 2,998,263 Commitments and contingent liabilities (Note 10) Stockholders' equity: Preferred stock, $.0001 par value; 5,000 shares authorized; no shares issued and outstanding — — Common stock and additional paid-in capital, $.0001 par value; 405,000 shares authorized; 93,559 and 95,798 shares issued and outstanding at December 28, 2024 and March 30, 2024, respectively 3,455,850 3,651,067 Accumulated other comprehensive loss ( 10,069 ) ( 5,097 ) Accumulated deficit ( 65,348 ) ( 89,598 ) Total stockholders' equity 3,380,433 3,556,372 Total liabilities and stockholders' equity $ 5,963,096 $ 6,554,635 See acc