Company Overview: Qorvo, Inc.

Business Description

Qorvo, Inc. is a global leader in developing and marketing technologies and products for wireless, wired, and power markets. The company is organized into three primary operating segments:

1. High Performance Analog (HPA)

• Focus: Supplies RF (radio frequency), analog mixed signal, and power management solutions.
• Market End Uses: Defense and aerospace, industrial, infrastructure, consumer, and data-centric applications.
• Products: High-power RF amplifiers, low noise amplifiers (LNAs), switches, filters, mixers, beamforming ICs, power management ICs, RF front-end modules.
• Services: Semiconductor foundry services, wafer processing, advanced packaging, heterogeneous integration.
• Customers: Includes U.S. defense primes, space satellite communication companies, and other global D&A customers.
• Demand Drivers: Military radar, space satellite communications, LEO satellite networks, 5G infrastructure, low Earth orbit Satcom, electronics requiring high power, and communication systems supporting electronic warfare.

2. Connectivity and Sensors Group (CSG)

• Focus: Connectivity and sensor solutions for automotive, consumer, industrial, enterprise, and mobile markets.
• Market End Uses: Autonomous vehicles, vehicle-to-everything (V2X), digital keys, location sensing, smart home, and industrial automation.
• Products: Wi-Fi RF front end solutions, multi-protocol systems-on-a-chip (BLE, Zigbee, Matter, Thread), ultra-wideband (UWB) SoCs and system-in-package solutions, sensors (MEMS-based), force-sensing touch sensors.
• Market Trends: Growing demand for high data throughput, low latency, secure communications, and precision location.
• Customer base: Tier-1 automotive suppliers, OEMs, ODMs, and enterprise clients.

3. Advanced Cellular Group (ACG)

• Focus: Solutions for advanced cellular markets primarily serving smartphones, wearables, laptops, tablets.
• Products: RF modules, envelope tracking power management ICs, antenna tuners, filters, switches.
• Market Drivers: Migration to 5G, higher data throughput, lower latency, carrier aggregation, increased device complexity.
• Strategy: Focus on flagship/premium tiers in Android ecosystem, reduce exposure to mass-market Android smartphones.

Business Highlights

• Number of Employees: Approximately 6,200 full and part-time employees worldwide.
• Revenue (FY ended March 29, 2025): $3.72 billion.
• Net Income: $55.6 million (positive net income after operating expenses and taxes).
• Major Customers:
  • Apple Inc. (primarily through contract manufacturers): accounted for ~47-46% of revenue in fiscal years 2025 and 2024.
  • Samsung Electronics: accounted for 10-12% of revenue.
• Global Footprint:
  • Manufacturing facilities in North Carolina, Oregon, Texas, Costa Rica, Germany.
  • R&D and design in multiple countries across Asia, Europe, and North America.
• Employees per region: About 78% in the Americas, 11% in Asia, 11% in Europe.

Revenue and Financial Summary (FY 2025)

• Total Revenue: $3.72 billion, decreased by 1.3% from FY 2024.
• Gross Margin: 41.3%, increased from 39.5% in FY 2024.
• Operating Income: $95.5 million.
• Net Income (Loss): $55.6 million, compared to a net loss of $70.3 million in FY 2024.
• Research & Development expenses: $747.7 million.
• Selling, General & Administrative: $403.6 million.
• Cash & Cash Equivalents: $1.02 billion, with $848.7 million held by foreign subsidiaries.
• Shareholders: Approx. 93 million shares outstanding as of May 12, 2025.
• Stock Performance:
  • Share price in FY 2025 varied, with a notable decline from $239.06 (March 2021) to $88.61 (March 2025).
• Stock Repurchase Program: Up to $2 billion authorized, with approximately 4 million shares repurchased in FY 2025 for $359 million.

This summary provides a detailed overview of Qorvo's business operations, market focus, customer base, employee count, revenue, income, and strategic initiatives based on the provided document.