Qorvo, Inc.QRVO
Qorvo, Inc. Segments Disclosure
17. OPERATING SEGMENT AND GEOGRAPHIC INFORMATION
The Company is organized into three operating and reportable segments that align technologies and applications with customers and end markets: HPA, CSG and ACG.
HPA is a leading global supplier of RF, analog mixed signal and power management solutions. HPA leverages a diverse portfolio of differentiated process technologies and products to serve customers in consumer, defense and aerospace, infrastructure, and industrial and enterprise markets.
CSG is a leading global supplier of connectivity solutions, with broad expertise spanning ultra-wideband, Matter®, Bluetooth® Low Energy, Zigbee®, Thread®, Wi-Fi® and cellular solutions for the Internet of Things to serve customers in automotive, consumer, industrial and enterprise, and mobile markets.
ACG is a leading global supplier of advanced cellular solutions for smartphones, wearables, laptops, tablets and other devices. ACG leverages world-class technology and systems-level expertise to deliver a broad portfolio of high-performance discrete and highly integrated cellular products.
The Company's three operating and reportable segments are based on the organizational structure and information reviewed by the Company's Chief Executive Officer, who is also the Company's chief operating decision maker (the "CODM"). The CODM primarily uses segment operating income (loss) to evaluate each segment's performance and
allocate resources. This measure is utilized during the budgeting and forecasting process to assess profitability and enable decision making regarding strategic initiatives, capital investments and personnel across all operating segments. The Company’s manufacturing facilities service and provide benefit to all three operating segments, and the operating costs of the facilities are reflected in the cost of goods sold for each operating segment. The Company’s operating segments do not have intercompany revenue. The CODM does not evaluate operating segments using discrete asset information.
The following table presents details of the Company’s operating and reportable segments and a reconciliation of segment operating income (loss) to consolidated income before income taxes (in thousands):
| Fiscal Year | |||||||||||||||||
| 2026 | 2025 | 2024 | |||||||||||||||
| Revenue: | |||||||||||||||||
| HPA | $ | 705,657 | $ | 637,261 | $ | 572,953 | |||||||||||
| CSG | 421,654 | 472,521 | 434,537 | ||||||||||||||
| ACG | 2,551,206 | 2,609,189 | 2,762,016 | ||||||||||||||
| Total revenue | $ | 3,678,517 | $ | 3,718,971 | $ | 3,769,506 | |||||||||||
| Segment expenses: | |||||||||||||||||
| HPA | |||||||||||||||||
| Cost of goods sold | $ | 272,528 | $ | 288,847 | $ | 279,516 | |||||||||||
| Research and development | 150,955 | 151,139 | 130,000 | ||||||||||||||
| Marketing and selling | 65,581 | 63,006 | 52,565 | ||||||||||||||
| General and administrative | 27,237 | 25,374 | 28,371 | ||||||||||||||
| Segment operating income | 189,356 | 108,895 | 82,501 | ||||||||||||||
| CSG | |||||||||||||||||
| Cost of goods sold | 243,521 | 293,664 | 291,350 | ||||||||||||||
| Research and development | 127,491 | 135,580 | 133,252 | ||||||||||||||
| Marketing and selling | 69,722 | 76,583 | 74,455 | ||||||||||||||
| General and administrative | 23,173 | 22,536 | 24,129 | ||||||||||||||
| Segment operating loss | (42,253) | (55,842) | (88,649) | ||||||||||||||
| ACG | |||||||||||||||||
| Cost of goods sold | 1,363,621 | 1,456,799 | 1,523,025 | ||||||||||||||
| Research and development | 390,596 | 406,776 | 373,473 | ||||||||||||||
| Marketing and selling | 55,532 | 61,654 | 56,687 | ||||||||||||||
| General and administrative | 74,105 | 81,513 | 80,925 | ||||||||||||||
| Segment operating income | 667,352 | 602,447 | 727,906 | ||||||||||||||
| Total segment operating income | $ | 814,455 | $ | 655,500 | $ | 721,758 | |||||||||||
| Unallocated amounts: | |||||||||||||||||
| Stock-based compensation expense | (136,070) | (136,346) | (120,834) | ||||||||||||||
| Amortization of acquired intangible assets | (84,953) | (110,081) | (121,809) | ||||||||||||||
Restructuring-related charges (1) | (50,739) | (88,182) | (92,764) | ||||||||||||||
Merger-related costs (2) | (23,475) | — | — | ||||||||||||||
Goodwill and intangible asset impairment (3) | (82,369) | (192,569) | (221,414) | ||||||||||||||
| Net adjustments related to a terminated capacity reservation agreement | 2,010 | 5,444 | (38,419) | ||||||||||||||
Other (4) | (27,435) | (38,239) | (34,817) | ||||||||||||||
| Consolidated operating income | 411,424 | 95,527 | 91,701 | ||||||||||||||
| Interest expense | (73,134) | (78,328) | (69,245) | ||||||||||||||
| Other income, net | 59,983 | 48,700 | 51,104 | ||||||||||||||
| Income before income taxes | $ | 398,273 | $ | 65,899 | $ | 73,560 | |||||||||||
(1) Refer to Note 12 for additional information.
(2) Refer to Note 2 for additional information.
(3) Refer to Note 7 for additional information.
(4) Includes acquisition and integration-related costs; certain settlements, gains, losses and other charges; costs associated with upgrading certain of the Company's core business systems; and start-up costs.
The unallocated amounts in the table above are not allocated to the Company's operating segments because they are not included in the segment operating performance measures evaluated by the Company’s CODM. Except as
discussed above regarding the unallocated amounts, the Company's accounting policies for segment reporting are the same as for the Company as a whole.
The consolidated financial statements include revenue to customers by geographic region (based on the location of the customers' headquarters) that are summarized as follows (in thousands):
| Fiscal Year | |||||||||||||||||
| 2026 | 2025 | 2024 | |||||||||||||||
| Revenue: | |||||||||||||||||
| United States | $ | 2,315,762 | $ | 2,227,177 | $ | 2,175,937 | |||||||||||
| China | 474,870 | 620,423 | 726,810 | ||||||||||||||
| Other Asia | 431,862 | 444,352 | 517,683 | ||||||||||||||
| Taiwan | 357,739 | 341,161 | 260,839 | ||||||||||||||
| Europe | 98,284 | 85,858 | 88,237 | ||||||||||||||
| Total revenue | $ | 3,678,517 | $ | 3,718,971 | $ | 3,769,506 | |||||||||||
The consolidated financial statements include the following long-lived tangible asset amounts related to operations of the Company by geographic region (in thousands):
| March 28, 2026 | March 29, 2025 | ||||||||||
| Long-lived tangible assets: | |||||||||||
| United States | $ | 650,340 | $ | 725,620 | |||||||
| Other countries | 60,052 | 76,275 | |||||||||
Free Sentinel
Track for freeWant the next Qorvo, Inc. segments disclosure the moment it drops?
Set a Sentinel and we'll alert you the moment Qorvo, Inc.'s next filing hits EDGAR. No credit card, your email never gets sold.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | May 8, 2026 | Showing above |
| 2025 | May 19, 2025 | |
| 2024 | May 20, 2024 | |
| 2023 | May 19, 2023 | |
| 2022 | May 20, 2022 | |
| 2021 | May 24, 2021 | |
| 2020 | May 20, 2020 | |
| 2019 | May 17, 2019 | |
| 2018 | May 21, 2018 | |
| 2017 | May 23, 2017 | |
| 2016 | May 31, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.