Revenue

Q2 2026

Approximately $775 million, plus or minus $25 million "

$1,025,000,000 plus or minus $50,000,000 " "

raised

Non-GAAP Gross Margin

Q2 2026

Between 42% and 44% "

Between 48% and 50% "

raised

Non-GAAP Diluted EPS

Q2 2026

Between $0.50 and $0.75 "

$2.00 plus or minus $0.25 "

raised

Non-GAAP Operating Expenses

Q2 2026

Approximately $250 million "

Approximately $265,000,000 plus or minus 3% "

raised

Non-Operating Expense

Q2 2026

Expected to be between $10 million and $12 million "

Approximately $10,000,000 "

lowered

Non-GAAP Tax Rate

Q2 2026

Expected to be between 18% and 19% for fiscal 2026 "

Approximately 15% "

lowered

Content Growth and Wins

Q4 2025 and Q3 2025 discussions highlighted strong year‐over‐year content growth with the largest customer, design wins for Wi‑Fi 7 and Wi‑Fi 8, ultra‑wideband wins, and broader content capture across multiple product categories " " " " " " "

Q1 2026 emphasized a 10%+ Y/Y content gain with the largest customer, expansion of SKUs (e.g. 16E model), multiple Wi‑Fi 7 design wins (including in AR glasses), and ultra‑wideband wins in automotive applications " " " "

Consistent emphasis with added focus on differentiated product offerings and expanded SKU opportunities.

Smartphone and Android Business Transformation

Q4 2025 and Q3 2025 messages focused on shifting away from lower‐margin mass‑tier Android business, enhancing margins by targeting premium and flagship tiers, and managing declining revenue in China and mid‑tier segments " " " " " " "

Q1 2026 reiterated the exit from lower‑margin mass‑tier Android 5G business, reported an 18% decline in Android revenue (with China down 29%), and underscored securing multiple Wi‑Fi 7 design wins for premium segments " " " " "

Steady strategic shift toward premium, higher‑margin segments while curbing exposure to lower‑margin areas.

Defense and Aerospace Diversification

Q4 2025 and Q3 2025 underscored record D&A revenue, diversified product lines (e.g. radar, electronic warfare, SATCOM), and growing design wins driven by global defense spending and onshoring trends " " " " "

Q1 2026 described a sharp increase in the D&A sales funnel (expanding to over $7B) driven by increased U.S. and allied defense spending, with growth supported by applications including AESA radars and advanced PMICs " " " "

Strengthening focus with continued expansion and deeper penetration into high‑priority defense programs.

Margin Expansion and Cost Efficiencies (Factory Consolidations)

Q4 2025 and Q3 2025 highlighted margin improvements through workforce reductions, factory consolidations (e.g. Costa Rica closure, relocation of gas production), divestitures, and optimized product mix leading to expected gross margin expansion " " " "

Q1 2026 focused on cost efficiencies via closure of the North Carolina facility, transferring SAW filter production to Texas, and other actions that contributed to an improved non‑GAAP gross margin of 44% with future expectations between 48–50% " "

Continuous cost optimization through aggressive consolidation measures with further margin enhancements on the horizon.

Tariff Uncertainties and Supply Chain Mitigation

Q4 2025 conversation discussed potential tariff impacts (rising to high single‑digit millions if exemptions expire), with mitigation through a hybrid manufacturing footprint and supply chain flexibility; Q3 2025 did not address this topic " " " "

Q1 2026 noted tariff-related inventory buffering (estimated $15–30 million) particularly in the Android ecosystem and battery‑operated power tools, with customers adjusting factory footprints; overall, underlying demand remains strong " "

Ongoing external challenge with recurring mitigation measures; noted in Q1 and Q4 while absent in Q3, indicating variable emphasis over time.

Customer Concentration and Revenue Dependency

Q4 2025 highlighted the largest customer contributing around 43–47% of total revenue, with Q3 2025 emphasizing growing revenue concentration (particularly with Apple) as the Android business declined, prompting diversification efforts " " "

Q1 2026 reported that the largest customer contributed approximately 41% of revenue along with strong content growth and expanded product opportunities " " "

Stable concentration with a persistent reliance on a key customer; while absolute percentages vary slightly, the overall dependency remains a focus alongside diversification initiatives.

Transition Away from Low‑Margin Segments

Q4 2025 and Q3 2025 focused on exiting low‑margin Android programs, executing workforce reductions, and divesting non‐core businesses (including silicon carbide) to improve margins and reposition the business " " " "

Q1 2026 reiterated the strategic exit from lower‑margin Android 5G business, detailed related divestitures and factory consolidations, and emphasized efforts to improve profitability " " "

Consistent strategic pivot away from low‑margin segments, reinforcing the commitment to focusing on higher value and profitability.

Delayed CSG and Automotive Programs

Q4 2025 and Q3 2025 did not mention delays in CSG or automotive programs.

Q1 2026 introduced delays in CSG growth due to an automotive customer postponing a ramp of an ultra‑wideband SoC program—now expected to shift to fiscal 2027 " "

Emerging challenge that is new in the current period, indicating a potential shift in timing for revenue recognition in these segments.

Workforce Reductions and Near‑Term Revenue Challenges

Q4 2025 and Q3 2025 detailed meaningful workforce reductions targeting the mass market Android business, along with commentary on near‑term revenue challenges due to seasonal declines and tariff impacts " " " "

Q1 2026 provided less emphasis on workforce reductions and near‑term revenue challenges, focusing more on factory consolidations and overall revenue guidance despite acknowledging broader macro uncertainties " "

Sustained cost‐discipline though the emphasis has shifted slightly; earlier quarters provided more detailed workforce actions while Q1 concentrates on post‑reduction consolidation and revenue normalization.

Macroeconomic Headwinds

Q4 2025 mentioned macroeconomic uncertainties affecting forward guidance, especially related to tariffs and global trade dynamics; Q3 2025 did not highlight such headwinds " "

Q1 2026 cited macroeconomic uncertainty as a factor in a cautious full‑year view, alongside impacts on CSG revenue timing and broader market unpredictability "

Recurring external concern that continues to influence guidance and strategic planning, though its emphasis fluctuates across quarters.

Silicon Carbide Business De‑emphasis

Q4 2025 and Q3 2025 detailed the sale/divestiture of the silicon carbide business with expectations for margin accretion and negligible future SiC revenue, aligning with a broader portfolio optimization " " " " "

Q1 2026 confirmed the divestiture of the silicon carbide business, noting its exclusion from revenue guidance and positive contribution to gross margin improvement " " "

Consistent de‑emphasis as the company continues to offload lower‑margin segments in favor of higher‑value opportunities.