Cirrus Logic, Inc.

Instructions for queuing up will be provided at that time. As a reminder, this conference call is being recorded for replay purposes. I would now like to turn the conference call over to Ms. Chelsea Heppernan, Vice President of Investor Relations. Ms. Heppernan, you may begin.

Thank you and good afternoon. Joining me on today's call is John Forsyth, Saraslogic's Chief Executive Officer and Ulf Habermann, our Interim Chief Financial Officer. Today at approximately 4 p.m. Eastern time, we announced our financial results for the third quarter fiscal year 2025. The shareholder letter discussing our financial results, the earnings press release, and the webcast of this Q&A session are all available at the company's investor relations website. This call will feature questions from the analysts covering our company. Additionally, the results and guidance we will discuss on this call will include non-GAAP financial measures, that exclude certain items. Reconciliations of these non-GAAP measures to their most directly comparable GAAP measures are included in our earnings release and are all available on the company's investor relations website. Please note that during this session, we may make projections and other forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially from projections. By providing this information, the company expressly disclaims any obligation to update or revise any projections or forward-looking statements, whether as a result of new developments or otherwise. Please refer to the press release and the shareholder letter issued today, which are on the CirrusLogic website, and the latest Form 10-K, as well as other corporate filings registered with the Securities and Exchange Commission. for additional discussion of risk factors that could cause actual results to differ materially from current expectations. Now, I'd like to turn the call over to John.

Thank you, Chelsea, and welcome to everyone joining today's call. As you've seen in the press release, in the December quarter, Cirrus Logic delivered revenue of $555.7 million, above the top end of our guidance range. In a moment, I'm going to hand the call over to Ulf to discuss the financial results for the quarter in detail. as well as our outlook for the March quarter. But before we move on to that, I'd like to make a few comments about the recent progress we've made on our company strategy. As many of you are aware, our long-term strategy for growth at Cirrus is based around three principles. First, maintaining leadership in our core flagship smartphone audio business. Second, expanding the value and range of high-performance mixed signal functionality in which we serve our customers in smartphones and similar products. And third, leveraging that world-class expertise and IP in both audio and high-performance mixed signal areas to grow and broaden our business in new markets. I want to now speak to our recent progress in each of those areas. In our flagship smartphone audio business, during the quarter we were delighted with the success of our latest generation custom-boosted amplifier and our first 22-nanometer smart codec, both of which began shipping in recent smartphones. These products represent years of engineering effort and a deep and collaborative relationship with our customer. We're proud of the crucial role they play in enhancing the power efficiency and exceptional audio quality of our customer's latest products. We also anticipate that these components will be used in multiple generations of smartphones over a number of years, giving us excellent longer-term visibility and an opportunity for sustained revenue contribution. Outside of our custom audio solutions, we also continue to engage with customers with our general market products on next-generation flagship smartphones. And during the December quarter, a leading Android OEM introduced their latest flagship smartphone featuring three Cirrus Logic components, including two boosted amplifiers and a haptic driver. Beyond audio, our goal is to continue to broaden our high-performance mixed signal content in smartphones. where we see a meaningful opportunity to not only expand our addressable market, but also to grow and diversify our revenue. Our progress in this area has been demonstrated through the continued success of our camera controller product line, as the total value of our camera content has increased over the last few years. With the latest generation of devices, we are benefiting from a more favorable overall mix of smartphones on the market that include these camera controllers. And this more favorable mix contributed to today's robust results. We also believe there is significant potential to continue to grow value in this area in the future, and we are today investing in a roadmap of further products and features in pursuit of that goal. Beyond camera controllers, we've also seen strong interest in our capabilities around battery and power. Currently, we have a number of R&D programs underway related to these areas, and we continue to be excited about the long-term opportunity these areas represent for further growth and diversification of our revenue. The third principle of our strategic plan is to leverage our audio and high performance mixed signal expertise into new applications and markets outside of smartphones, such as laptops. Although we are still in the early stages of revenue contribution from our laptop components, we were pleased with the milestones we achieved during the past few months. First, our audio solutions were featured as part of the Intel Arrow Lake reference design. Second, I made a significant number of laptop announcements at CES 2025, A leading laptop OEM introduced a high volume commercial mainstream laptop that utilizes the Soundwire interface and features our latest PC codec and power conversion IC. Lastly, we're excited to have started sampling our next generation PC amplifier and codec, which we anticipate will broaden our portfolio further and address a wider range of the laptop market as customers seek to deliver improved performance across tiers and retail price points. While we're very excited about our potential for growth in the PC market, we also see opportunities to expand our business in other new markets. As part of this effort, during the quarter, we began sampling a series of timing products designed to enable superior audio experiences in automotive and professional audio applications. We're encouraged by the early customer interest and the strategic opportunities ahead of us in these markets. Finally, before we get into the deep dive on our results, I'd like to take a moment to highlight the leadership announcement we made earlier today. We're delighted that Jeff Willard will be joining Cirrus Logic as Chief Financial Officer later this month. Jeff brings considerable experience in the semiconductor industry, as well as a proven track record in finance, strategy, and M&A. I believe his deep industry knowledge and financial expertise will be a considerable asset as we continue to execute on our strategy to drive growth in our existing business while expanding into new markets. All of us at Cirrus are excited to have Jeff join the team. I would also like to take this opportunity to thank Ulf Habermann for his leadership as interim chief financial officer while we conducted this search. Ulf is an outstanding member of the CirrusLogic organization, and I look forward to continuing to work with him in his role as principal accounting officer, treasurer, and senior vice president of finance. And with that, let me now turn the call over to Ulf to provide an overview of our financial results as well as the outcome.