Cirrus Logic (CRUS) 30 Oct 192020 Q2 Earnings call transcript

Company Profile

Participants

Chelsea Heffernan	Director of Investor Relations
Thurman Case	Chief Financial Officer
Jason Rhode	President and Chief Executive Officer
Tore Svanberg	Stifel
Blayne Curtis	Barclays
Matt Ramsay	Cowen
Ruben Roy	Benchmark
Raji Gill	Needham & Company
Adam Gonzalez	Bank of America Merrill Lynch
Charlie Anderson	Dougherty & Company
Christopher Rolland	Susquehanna International
Wei Mok	Oppenheimer

Call transcript

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Operator

Ladies and gentlemen thank you for standing by. Welcome to the Cirrus Logic Second Quarter Fiscal Year 2020 Financial Results Q&A Session. At this time, all participants are in a listen-only mode. After a brief statement, we will open up the call for questions from analysts instructions for queuing up will be provided at that time.

As a reminder, this conference call is being recorded for replay purposes.

to conference like Mr. over now would turn all the to I Case, Financial Thurman Officer. Chief Mr. begin. may you Case,

Thurman Case

Thank you afternoon. and good

Joining me Heffernan on Logic's Investor President today's call is Chief Relations. Officer; Jason Executive and Chelsea our of and Director Rhode Cirrus

GAAP non-GAAP we with most earnings of Investor all website will webcast along quarter well available fiscal second submitted us at a press analysts p.m. at call as The release are information year Q&A session as for our to the via directly discussing the of X:XX this This our from of the shareholder Relations approximately feature including e-mail company announced letter our questions financial at financial covering at company's Today the questions results investor.cirrus.com. Eastern. the investor.relations@cirrus.com. comparable information financial to XXXX results reconciliation the

press actual the could or as latest Commission that current expectations. additional to today differ refer the and we the available Please with By any undertakes uncertainties risks make to other factors revise may projections projections Securities note and corporate on as to result may to update statements as of no differ discussions risk or that from cause a issued Exchange well for this cause to otherwise. during XX-K developments materially forward-looking subject new the whether is and or and Cirrus Please which company that this the results website information materially that XX-Q are session of obligation statements forward-looking other providing Logic actual release projections. Form results Form from filings made

Jason. to Now I'll turn the over call

Jason Rhode

Thank you, Thurman.

like I'd comments. a few we taking Before make begin to questions

revenue the posted high-end results financial components $XXX.X above Relations a of drove certain of results our our 'XX growth million delivered Logic please of Investor For QX stronger-than-anticipated as guidance. for Shareholder FY account demand Letter read website. Cirrus significantly on detailed the

respectively. were share and earnings non-GAAP and $X.XX GAAP $X.XX per

ramped smartphones company and codec of the haptic introduced During production shipping smart the of we OEMs. top the a product eight a and now drivers quarter new recently amplifiers in are of XX boosted variety into

continue be we are be With digital adjacent of are other as phones While applications laptops pleased an associated and to with and tablets our products future. such largest in and momentum extensive an we headsets. audio our spans opportunities today gaining available voice roadmap innovative portfolio excited about markets, to that mobile

we policy in like about related is Before understand the we that our there relationship. to interest begin while not accordance also intense with discuss do customer would largest our Q&A we business specifics I note to our

take we Operator, are ready now to questions.

Operator

Tore [Operator come from with first of line question Instructions] Svanberg the Your Stifel.

Tore Svanberg

of question congratulations versus first very Yes, half? now norm? do looks the sort strong in playing you Or thank have is years. seasonally the other you on seasonality is but results. and different the other maybe how I are second know things out always difficult comment this on bit a Is this Jason new any the

Jason Rhode

is that definitely such Certainly, filings. unable thing have of yes discussion everybody would where this been to It's a we there our factors to It's It kind the ever meaningful are that's like thing know years control and from we our the guidance refer could in outside there but a nice there's things in We've a of such time and if relevant to give demand. seasonality don't hard -- we it want It's things to happen out. that risk be time. for surprised era. I certainly, that. that rule as feels we for strong norm new are and had call thanks it to

couple company. of we in going good That going looks things forward. the some the that largely have the We've are really of which good have headwinds outlook strong. The on years lapped past kind that said underlying good. feel we of had Backlog masked is the over

got So of get year back have outlook. is strong of so I our should expected be think over or more coming us we lineup and normal on that a to good growth the next news

So again the characterize normal going point. at to it's forward. hard feel But certainly good anything we this about as outlook

Tore Svanberg

first? it good. any my to I bit primarily sort highlight? little control there I sensor you means sounds but in that it Shareholder you understanding you of your it's Very make guys? controllers. of in that. are hoping to maybe elaborate for reference should closed-loop that elaborate And on again mean a applications could there other a products Letter, what to sell And you more Or is smartphones was assume could want - we some you

Jason Rhode

device really a talking not for. in we controller The particular the closed-loop be is of a kind could I handset it's phrase we into about description noun a proper sometime expect are wish and is to the about meant Well, that next months. detail a we thing. a it's little that there more what in to just XX ship of get

of it kind in haptic a good is amplifiers that we application. of further audio taken controller that of have example offshoot capabilities technology and for audio of some the our It's a a amplifier where repurposed developed we new have

for with not of about is philosophically isn't we afield stuff. traditionally It's similar about. something get a even it it's some This are due that's just a lot it's handset detail But can further is then little the to probably content unfortunately, that what and associated new we actually something matters. sensitivities, in the really customer haptics meaningfully kind of whole us into

Tore Svanberg

Great.

last if sneak one can in one. Just you

us see business opportunities about progress want away some to the work first. MEMS Are those you elsewhere not Maybe just to many resources those just you seeing Or on you update unit. there? from engineers you that talked the could that want reallocating there's just so You there?

Jason Rhode

line. they're extent to many. there hats well -- field who it is Well, aren't product a the my that hard It's folks to hard shockingly the MEMS off do a

strides the we the where readiness the our happened moved has have on production operate product it's -- really needle lines team we at past made own. of and but room to enough same like give company's the Our their times to on time, handful a great in

time from of time opportunities we in front at us. an of just to array looking such are overwhelming But

of investment kind and step core as little a of sooner to company it would to it on -- known little be lower have look on time good unlikely if as are perfectly a are as to looking opportunities MEMS executed be at reality that We or a we big are other be at back the that still is as at And going forward what in risk a some we these at the we level. to are more return we little well. of that good

of factored kind that all into it. So

And have across balance has gotten Certainly, opportunities. to other our long best production some our long, we largely this eclipsed we loved the point, would have that to fact MEMS investment ago. got stuff. But to the just at remains of by

Operator

Your of next Blayne with from comes Curtis Barclays. line the question

Blayne Curtis

this way kind Hey, a for opportunity? taking my you controller us question. just good per deck of product. there us any of thanks this you Is Tore's key ASPs your guys, Maybe slide ranges closed-loop can dial of some do in on given following job of up question

that say the there can dial than much I everything any codecs. with leverages want on stuff has ASP perspective. to think of a it lower don't a know that kind us kind Is of about but you some the way you of you to you Even just ASP haptics reveal in. worked opportunity on way

Jason Rhode

audio it's into amp. really smaller -- little probably a -- mean in of I given something range. than we probably kind Again given really I get It's it's not detail it's ton some that say would codec than but to a do. to valuable it's it's want out intended an of what haven't even a we that more

Blayne Curtis

mean for you were And Gross helpful. a September. this significantly get lot. then up maybe margins That's question one I in Thurman.

You mentioned that. is for a cost reduction driver

given huge Just speed. -- that volume obviously of big a have well the as must part

you going should guidance saw kind in of Just trying December those understand that from benefit for the here whether and continue? to cost some the of reductions forward

Thurman Case

are be always gross to maximize margins. trying we Well, our going to profit

that. from a you movements. -- costs. And different lot noted But I about higher volumes more a there's so you when to when of will And we guide really think see continue to it's one do absorb will we you lower us talk about allow

and you time get a of mix of better so margin ramps during actually you for that us. can the that have And move given forth that also a the any on out components margins so at variations in needle and different

XX% XX% that. to you that have we term, we XX% at the that and stated try look longer in end is at when where still and as shorter longer have that should reasonable think we to term is the do high guided XX%-ish -- in be. term we XX% well we So But is been we will continue is us to the to noted range XX%

Operator

next Your line of Matt Ramsay from Cowen. comes with the question

Matt Ramsay

much. earlier been of the opportunity you the MEMS. a called some viewed maybe maybe be an as you then that sort by have. question very about higher diversifying obviously in you you've opportunities you Jason, out in haptics that team everybody. than Good wanted shareholder And Thank talked - I stuff to had afternoon, lower letter would and -- in of some guys wins the risk

a the normal there us Is voice that -- on update this give where buttons know application? that? stuff investment biometrics then effort what company. update I If the this on And is longer with you for I could is a at is for you're little big some term guess the pretty vibration

Jason Rhode

is including process. I our try lives investment this portfolio as of annual I ASPs make kinds and customers it mean through we say that broadening the haptics Sure. handsets our balancing out so with are more investment to and Well the forth of continuing product whole of of technology. the that system strategic and into Certainly, to company design kind run kind to we would the for measuring kind simplify a things easier of increase

of investing is certainly that things the going in we are So in forward. haptic mix

stuff of ago. of controller So greenfield-type There's it. the talked we kind new of a or that's beyond some about so even closed-loop some that question completely

of what So doing. kind it's of across really the we board are

reality whole lives of are that in kinds heard activation there into useful of about things about lot voice so I And assistance that starting all Jetsons with it capabilities. voice reflective of really or it's they're we and are edge about our that awareness tricky time thought intrigue or of many so with it's just have that that processing a The whether or we it's this forth the think drags voice that truly the and audio turning and - and

us that wide things to be capitalize coming It's be to these to appear that. of really appear array really positioned a we at on well and

of kind development really of have innings that still gotten it's specifically has we we capabilities biometric voice early in customers as The reception the far as As from have that been market. the promoted we good. developed

or continues opportunities of the of a to of to to voice I'd wide interest certainly be some our vis-à-vis that full of factors the we deploy say our as very biometric that end deploying either had the and folks. planning across about devices continued where has suite array well subcomponents to are exciting into we comments a rebalance lot resource some having grow

expect And the in good are with a more with ideally, developments things we array resources because lot And capabilities. to biometric certainly require bigger going particular the chasing in that we opportunities lot are a across commensurately forward that. complex. we that that's frankly scale of They of voice wide them a are they're

particular. So of wide as be both a to excited it -- the array an and is about of investments of the really net voice across continue in we anyway kind interface of things

Matt Ramsay

where little I on a guys was you wins are. there. we forward I for bit give the earnings guess in follow-up color you Got all semis. at maybe I Huawei didn't there design as it know us have a talk be in guess could about growth you. Thanks If wouldn't to of some the look and an some space? my update call handset China.

versus progressing the challenges And the how been could maybe shipping all just had as politically going the an outside China the of And that some us are those business? they've have would then give strength helpful? that's be OEMs in their way to update all with you other around how given of things

Jason Rhode

see. Let's

Huawei would China it progress Huawei good see continued specifically say as to we China. to in So I and relates have

that that letter able We to design to accounts continue another add to to wins we the handset point top new be the at add manufacturers some list. you continue in XX in form eight shipping are or to to out of expect and

The similar pointed very we are the from or networking, last With every quarter of kind stuff I not are in that to lot feel in you rest like to minimis the -- are lot I extent out peers think them of silicon all of it's a clearly to Huawei, we XG we sell exposed at the manufacturer. much our de news of read semiconductor the handsets. Like particular, rule to that have is we a our a like fallen category.

look resolved or a to any of engagement we pursue that provide because we that designed we that being We kind of to to was unable would are next of like we things unable are the support forward already do. all support sell are able level to of silicon stand lot in to but really as

Android seen we resolved that there's that eight XX other progress that to So a we up of of the make look the list. rest the have but certainly, in been certainly accounts in being rebound And that. continuing top forward

Operator

comes the of with Your line Ruben Roy from question next Benchmark.

Ruben Roy

thanks, hey chain the a Jason, work talked continuing in discussion. had Taiwan. customer with going lead Last you I MEMS Hey, on a guys supply getting to follow-up and about the quarter

Just this Or at customers done point? slower pace be clear at maybe move a effort that a forward with slower the still will there you or etc.? completely rate to MEMS is are

want were then that And are other that customers areas now term?" go quick of thought near type MEMS? good customers point what on is to and the a time pressing that where follow-up we it's given product to Just guys thinking gauge there something a whatever your asking or after you you that trying that get for "Hey about the any just

Jason Rhode

of say well I in the let's has refer Letter is this Yes. bit Well, a really got The that than case, more it. in the to would stuff customers. description the redeployment would little customer see I Shareholder you MEMS a --

evaluating factor our a I that other these There's change kind was to Additionally, well. major pretty on risk talks That spruced our about as up to We're on of a of areas. bit kind it of front. little folks redeploy options. some

plans we have we and is the with That that able our the of on from But a But of more lot pretty a it team we useful. perspective whole new say give total we of think to expanded evaluating pretty significantly update decreased the about it the balance. are call. expense point lot are go-forward than that out with We're meaningful expect have the them. at next an pursuit some leaves investor net a of of to have capabilities the be like that. to extremely don't to little an opportunities a nonetheless, that we developed this bit feels other likely extent it in SAM now pursuing these We

well. we good the a of particular, lowering forward be going should hopefully that with some thing, So as developments risk the that in on proceeding are

of number a that useful. day. bunch MEMS of within the like So when work engineering a good you're bunch do of certainly in think We've we on areas you'd be light good you that see could work of and to a done

variety still So see some able perhaps we are of considering of options of day. be might a to that the light to stuff

where downside But that from guess got covered. the a analyst I in And say the least just will from way from - call. on -- an we will I a things we zero your on you would at then model you've next it update revenue perspective, perspective. out And stand

Ruben Roy

at That's very follow-up. opportunities dollar like customers. very ramp boosted calendar as adding there flagship well. amps bigger them the and accretion as sort content would you of to are Or It seems driver? wondering growth are you and a amps, about phones? as this I'm keep it's you Jason quick think content point going guys boosted driver mid-tier you of say still continue looking at helpful. in just a In a 'XX

Jason Rhode

as mid-tier. top are those shipping think we models up mean that variety still as of their Yes, are it's a extent lineup out -- guys there flagship of I in have Sure. are well I these the their wider most both. that make to we both Android

of switch to we of yet end. functions term where are we amplifiers. So plenty the those that to there's penetrated this accounts -- there's more stereo. We to features have not flagship in high some the longer can think There's fully those make we and add

your some in there's perhaps clever the cases And gain that then assisted stereo full well or stereo on one of to mid-tier. even point, a in ground deployed receiver lot to a or boosted as from in as those to mid-tier transition the customers have no some something amplifiers having

phone that would a you matter forth. it speaker you of It speaker be phone being of and type includes to making a thing in enough what better loud use a is phone no kind phone can and a long-term that that so that it car you're like loud a

So even in -- both Korea and in see both devices as we China see in some stereo well. and demand for that we a mid-tier

Operator

of Needham Your comes from the next Raji Gill with & line Company. question

Raji Gill

well. as congrats and you Thank

Just on was some authentication. on this wondering performance of technology? benefits controller could are enhancements the if the what and a of the or applications or elaborate follow-up what closed-loop I biometric maybe you the

Jason Rhode

biometric Of voice specifically?

Raji Gill

controller No loop the you closed mentioned. that

Jason Rhode

to -- signal think got so things you to mean there. and across that hard. space mixed of ultra-low processing. kind really remain power of the the very Sorry about implementation latency It's yes can kinds in Logic of Cirrus I same. the it's adding I've value low silicon wire The signal

not of the last the choice but has kind years that. signal the to is be traditional of for our wheelhouses components. this remained first in XX It's So of one company of more vision processing the

it's we it's really the we but But through a it's departure to do well. much of audio that. is what think And another sense of in that voice very core that's or this not manifestation the

Raji Gill

it sense or would If not to what the the... is. Is I'm application -- Or to video what it trying trying just be? understand audio it's voice I'm a Yes, just Is processing? processing? of processing get it

Jason Rhode

Yes, do easier I I my I wish I could really could. a you. lot if life would tell be

Raji Gill

capability? earbuds and moving terms of market you digital in where competitive of And earbuds -- wireless where in more earbuds advanced of terms cancellation adopting of the can ANC talk wireline particularly technology your in and ANC you are kind the from wireless terms of in kind more forward ANC noise is positioning about to around

Jason Rhode

sure. Yes

specifically has there. wired ear So I pretty from by around is thing really to wireless different on I mean call think changed pretty mean weird battery wireless your the the It a market nothing and neck. don't that we and elaborated size last on the due in sits primarily versus Q&A for the that earbuds I untethered the

The really have they tiny, earbuds they're a tiny untethered battery. but inherently style popular is just a clearly going to

what is last quarter kind particular two focused deliver highlighted call highest was really a this has one so priority that for there the the battery three focus our not of And on an in one, I And on the maybe to we experience and not of life. -- priority efforts highest ANC been certainly really that trying no. just designs. but unsealed

Sealed about sense. how gives power perhaps you of go in can a some that in terms advantages you lower

-- earbuds alluded we of recently in. have was as to kind that released we untethered a very, content wired So very do of there now set of set

content It's before. had content not content. it never new that We've ANC but is

we wired have in And progress. side, didn't as from will build we do to to the that's again continue it's a shipping previously now ANC content ANC different that have hopefully, base manufacturers. we now. make additional do headphones And use We're we news good to So on. because on try

time and that will platform it's over pretty devices there. the of capabilities there's we -- to think road legs add we - should we of signal But build otherwise a that whether factors. opportunities see a processing factor we or a earbud form So visit we there's feel those a time. variety it of a us to ANC ANC headset continue continue lot to revisit as progress for of good we map form longer about array untethered additionally for will term some have to over to the can And wide lot on

Operator

line next comes the America of Gonzalez Your Adam from question with of Lynch. Bank Merrill

Adam Gonzalez

Yes. Hi, thanks question. for taking my

to wanted on voice biometrics. follow-up the Just

a customers to want of if to remaining rough the to to software market? would are give or what can handset? product you just does it sense wondering it obstacles get leverage that or Just they the be? a out And come what figuring is us silicon the how in content When Is that technology? market

Jason Rhode

the function combination remarkable Sure. device the I delivers I say false mean is of have initial accept I and that and it's of and so latter it does on forth. we would what developed really the device said mean it's pretty a robust false I the the X. reject a XX

software it production. So side a would that is that preclude from going nothing or to silicon

as Frankly production do we is to go it's to but total new home that run. something there. is It as when that the you done still have rare something we product what -- expect first it is

still once certification to done. and we customers the only that's out solution which the have So who are gotten been able there engage voice FIDO

you Then what think customer to what they would the really meaningful about really have and to with can long user they things want be. hard the deploy access want and give they experience and it to engagements how and can

to be would that landing us pretty expect bit of line the that a And to for that time. evolve over appearing product a of sense valuable. parts to little are we sub And it's in lot so there's quite voice continue a moon biometrics frankly, of

and For show what example hey another handset Part it of record to. if solution thing back. overall anyone I anybody voice play thinks your we first the the of as with

that customers lot them that thing live stuff their the aspirations let's anti-spoofing versus done biometric the make be anti-spoofing. you own that the person. it measurements doing front largely it's that have turns way off tip recording of forth needs bandwidth whatever clearly due a to very of so required to something turns yes up analog input the they voice might it Can a where the an of we done out detect just is a it And some then all can and call via on and out mic

of that be product so under and voice a sub of kind the umbrella in And that's biometrics. off itself could

So over we the biometrics array we have at category of term. one into itself kind just excited think fall voice But that in it's excited portfolio we to biggest be about the overall of continues we whether be opportunities things really continue the that voice to wide processing portfolio not power increasingly edge the are longer about broader form of ultra of factors, handsets. ultra-low the of a

Adam Gonzalez

Got a in it. content would you drivers are wondering then haptic guys consoles And for just of the for the codec. And smart handsets, my opportunity in be a there? for opportunity the follow-up ballpark game potential the

Jason Rhode

So let's see.

could in Haptics see get we So could over how bunch really good bio we the customers as be of of are think question. the couple that's voice I have a closer map. support it Certainly, we of there. but type engaged today, something out device with that's ASP we bucks interesting will plays that all just Haptic we to the discussions a variety a discussions. production a with for

as stuff of have It probably discussions ripple and a in market cabin more kind cars gaming modern is quarters viable over the applications of controllers automotive car kind the the have the of should look so interesting of technology are couple what and a of the we through like. reimagined other for last had electric leaders forth

really functions kind physical is contact bear done you that's these to glass physical a And handsets there without have to in sorts it all tons we things we automotive these well. haptic car of modern missing. of user bring and the buttons similar think got really access driven features we for experience as some with today and stuff one exists that you've in that's can that what enable as that market of to stuff of interesting interfaces is If cool

interesting out we pretty the but meaningfully there think a haptic user there's of wide an where that's So to devices discussion can experience. add array

we some it. pursuing are So we find wherever

Operator

with Company. of Dougherty line & question the Anderson Your comes from next Charlie

Charlie Anderson

Yes. expand the for It opportunity then kind my as just fast applicability headset I've amps wonder upon if that my a now that that Thanks and opportunity could And well. is? your I you're of market questions sounds and taking of got sort the of you congrats like into how market. Jason and follow-up. technology to shipping

Jason Rhode

Sure.

So shipping earbuds a that have hit. actually this kind with year integrated launched that we started huge into we been codec a actually just an -- earlier some untethered amp a device of bigger

that's a hope something little very to we bit are as recently to pointed shipping you a amplifiers get we was it of mention out as so continue And see on to of kind nice savings build which those the and power themselves. the recently amplifiers public More well. now of fidelity the

-- previous battery counting got like -- when matters. I comment Again a on previous said you've small that's on the micro-Amp that very a every you're really electrons and

when a and nice current deliver it's minimum sound the minimum current so you're really playing of work. with to immersive piece standby absolute a able and being So loud forth

all that other USB team applicable got pulled array The of the engineering of We've across have with concert a are wired interface. over-the-ear digital pretty sorts customer. earbuds wide Bluetooth devices wired untethered off in headsets

signs less over much to the we -- ago it sure are make are pockets well of there off good took the of years imagined positioned pivot that would number seeing certainly we a opportunities market high-volume quickly support kind case. are broader and that So that's than emerging of we that but and

Charlie Anderson

if Great. my months revenue follow-up, from XX wonder MEMS. you the And then I guys last can maybe disclose for

secondly coming the maybe if options. wonder And there? what's of then can model? So out of unique like evaluating you assess the you're sort would speak IP Is to it I you sounds this --

be there? that potentially to is what's relative something could the out is it So How sold? scarce this resource

Jason Rhode

hopefully Yes developed And from forward. a have low or in approximate months are test of close and I a we volume past to significantly production frankly, the minimis can we zero. have be a certainly the we state mean to production acoustic we The the and capability so. that patents. very you over IP where truly you de at revenue can developed doing is performance moved -- far ability XX of It remarkable as wider readiness capabilities to production you cost, was high environment very our range the very have test is live array already

So unexciting derive big it say an in overall bits done could work that trying people we be some to that again pieces eye could selling and options as the involved But off certainly, really of it be the -- deal also to there. evaluating able fine umbrella some we the get could letter piece as be all a have for transaction company the are along way. the a it we to like of as and and here maximize with are benefit the the towards of

we same at unable feeling of that to at like in previous have we -- out just are those Or positions do definitely any case the what's it's But are the positions there's up of staff in us. to had fill got this we would for have time familiar are we what out are close hire people to we trying way what we years front could that fast. we no that to where are point that anything that because

Operator

line the from International. question Rolland Christopher next Your with Susquehanna of comes

Christopher Rolland

Close.

tough the a in environment. on to upside there congrats team So the particularly

So have and two Thurman. questions. Jason One I one for for guess I

we talk next-gen haptics. the you amps. as about So, you And Jason, letter about talked in also about talked

that amp part how a different? new And a if first I'm part And then that as your part? that amp from the is how is to specific also is a this effects? it And correctly follow-on well? haptics haptics different is XX-nanometer If follow-on so reading

Jason Rhode

section haptics we correctly I new talking are about think if I amplifier. that what remember a is

audio for have new we a developed mentioned and earbuds have ones got new We untethered we PG couple the for number of we market new amps that example. for amps a of a We've have out taped shipping broader -- the audio. in a did -- developed amplifier

talked then feedback. And think haptic basically you are give we feed out thing back system a processing have where you on measure some if gotten or and taped you sensor on of some that kind the a there's an and I call amplifier some a back something we or think it's amplifier LRA system about expands you whether that that do then users the actuate a theme about -- an that gesture force to additionally last haptic into on other

what system of the for of haptic processing LRA materials there's of bill capture make ourselves. is of And that in the through previously through pieces larger design piece other have driver up but us haptic to the it done of lower a for the make simpler bulk the But our hopefully to kind driver. business overall sweep to the signal we system the

to system. got idea out is exploratory. want they that it. taped quarter And it makes what the sensor want geared of up sweeping handsets different those is device things. much of how a of so towards we more kind in It's little It and that within again use that the Everybody they kind that's a little to one of integrate of

sensor and over over LRA can there architecture. the Is on it an is impact the here system that have

of portfolio how to somebody an have trying matter attempt that is kind function. to applicable devices implement it's no broader about So are a of that go -- but

Christopher Rolland

the you guys inventory inventory history you December. you almost my through ramp that ongoing kind that with you Jason. you backwards always with I to intuitively the said expected ramp is Thurman But into fill Great. guess continue And the guess I Thanks, looking of demand here makes sense. then letter what years guys December to guys in quarter in and down said. to And

different ramping some the And seasonality sort or as Why softer for about traditional different this? The of Am is of calendar I seems is inventories years? into much year your December. sort too in than change for tell QX? us this it looking some something first this you're big expectation typically half does this customer But of year them. into

Thurman Case

like largest of part on than maybe the launches customer -- or four if is things different you no look in times Well this we and with customers ramps remember had is have got you years season ramping ago once product longer you that. three coming historically with one or earlier schedules plus our and just happening or ramp have different different at

not then meeting that see seeing we in we seasonal those but change. So whatever it's just -- for from really the for the a adjusted is terms standpoint. needs the demand It's a inventory for real forecast are of

Jason Rhode

lot. the end to incorporate that clearly a fact Yes, I of by you've would got beat too the add kind that to we high just

lower a that to we be puts that want normally. of is inventory position us in So naturally would than

distorting So other. it have that the trend or one into a that on kind of the too effect also I would can there. But you're way seeing not much read

Operator

Schafer of next Instructions] from line Rick Oppenheimer. [Operator with Your question come the

Wei Mok

call for is Mok on Hey guys. Wei Rick. the This

can traction provide guys So platforms. in of color diversifying great tell done a Android you customer across expanding your from more Android can customer But you this -- us quarter? and you devices job terms some largest away in have

Jason Rhode

relatively that. continued Android both new We've Well history. developments Android the of started have we which with mean see strength the had are audio haptic to recent customers new in to thanks company's We also the we for from but amplifiers space. -- some shipping I in for

opportunistic were product So the lines. those it's particularly folks specifically with as Android that's have lot We're engaged benefit we be with really that and integrated to engagements in seen of largely platform into been we designed -- have certainly those but devices China. from across a the easily devices other

that our haptics we Korea with the we which launch We in adds there for Korea and that of a exciting. to for was flagship the in that's recently the followed brand-new kind time of to this second win move year that audio stereo recently -- flagship the offering. amp so customer's relatively have the earlier that a launched half momentum us first did had And adopted the on

well were both as well customer with Korea the own span folks amplifier from amps as as went the that AP as their with smart out own point largely the codec stereo our too historical the offering processor amps their haptic both Diego. I'll San

that some So gives hopefully to higher on make side volume addition in kind progress mid-tier. the to continuing of us that on

Wei Mok

great. Okay

wondering here. product? wireless guys this release could of of any have ANC -- As for you life the see content do follow-up you you I new if my the was in-ear earphones. the with And if cycle how so

Jason Rhode

that. think And there different are to we choice the content. about thoroughly. I answered from a one It's customer time. pretty not new that super excited are we earbuds first ANC design those in just it's content the in excited have and for have No, we we content have and

the continue Hopefully, a Android positive big we certainly, that's have with for build And we devices, So customers. to some a of on. that's us. along content our in from platform

Operator

And now questions call like over Heffernan. [Operator the at are I Chelsea further to time. Ms. to would this Instructions] there turn no

Chelsea Heffernan

questions There turn to no additional operator. you, so I'll the call Thank back are Jason.

Jason Rhode

All investor.cirrus.com. our in product revenue for of components certain A will executing long-term Chelsea. broadening key Thank will would and to at you, webcast technologies delivering a London coming conference right. Conference of company penetration also in above note NASDAQ which is markets investing meaningfully as with map will expectations the the be at December that quarter I years. which target live X. be growth. September with contribute available are the in summary, Investor we to to company's believe success strong drove the pleased our in like we the presenting we In results stronger-than-anticipated road our experienced demand we on commitment yes The our on

via everyone addressed investor If you were like thank questions participating us that them for website. the have submit today Ask I'd Good-bye. our can the to to today. you section any of not CEO

Operator

This concludes today's conference call.

Thank You you may your participation. now for disconnect.

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