A maker of radio-frequency (RF) chips that help smartphones, cars, and defense gear connect wirelessly, Qorvo's components appear in everything from Apple and Samsung phones to radar systems and secure car key access. The company was born on January 1, 2015, from a "merger of equals" between RF Micro Devices and TriQuint Semiconductor, two longtime chipmakers. Its unusual name fuses "core" technology with "voyage," a nod to helping customers journey into new wireless frontiers. In 2025 Qorvo agreed to merge with rival Skyworks Solutions.
Gross margin reached 48.9% as Qorvo's exit from mass-market Android reshaped profitability, while revenue fell 7%.
Qorvo's deliberate retreat from lower-margin Android phones pushed to 48.9%, the highest in over four years. fell 7.0% to $808.3 million as a 50.2% increase in High Performance Analog was more than offset by a 16.6% drop in Advanced Cellular Group revenue, while rose 11.7% to $31.5 million. The pending Skyworks merger remains the central strategic overhang, with $14.9 million in merger-related costs this quarter and the deal expected to close within the calendar year.
Key takeaways
widened 6.7 points to 48.9%, driven by the strategic reduction of lower-margin mass-market Android smartphone exposure within the Advanced Cellular Group and a favorable business mix.
fell 7.0% to $808.3 million, as a 50.2% increase in High Performance Analog revenue to $206.4 million—fueled by defense, aerospace, and DOCSIS 4.0 demand—was more than offset by a 16.6% decline in Advanced Cellular Group revenue to $476.6 million.
Section summaries
Management's Discussion and Analysis
Q1 FY2027 revenue fell 4.2% to $784.8M, but gross margin surged to 51.1% from 40.5% driven by a strategic shift away from lower-margin Android smartphones.
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Consolidated decreased 4.2% to $784.8M, as a 50.2% surge in HPA revenue to $206.4M was more than offset by a 16.6% drop in ACG revenue to $476.6M and a 7.5% decline in CSG.
expanded significantly to 51.1% from 40.5%, primarily due to the strategy of reducing exposure to lower-margin, mass-market Android smartphones within the ACG and optimizing business mix.
rose 11.7% to $31.5 million, helped by the increase and lower operating expenses, including a $9.8 million reduction in R&D and a $6.2 million reduction in marketing and selling costs from Connectivity and Sensors Group consolidation.
Other operating expense rose to $41.6 million from $14.6 million, driven by $14.9 million in merger-related costs and $11.7 million in restructuring charges tied to the pending Skyworks transaction.
rose 38.7% to $276.3 million, and rose 49.4% to $255.0 million, as growth was supported by management.
The company received stockholder approval for the Skyworks merger and completed consent solicitations to amend outstanding note covenants, with closing expected within the calendar year.
What changed
The trajectory flagged in Q1 FY2026—whether the 40.5% level could be sustained or improved—was decisively answered: gross margin reached 48.9%, up 8.4 points from the 40.5% reported a year ago, as the Android pullback continued to reshape profitability.
High Performance Analog growth accelerated to 50.2% from 6.1% a year ago, exceeding the pace flagged as a watch item in Q1 FY2026, driven by defense, aerospace, and DOCSIS 4.0 deployments.
Advanced Cellular Group fell 16.6% to $476.6 million, deepening the decline from the $632.9 million reported in Q1 FY2026, as the strategic pullback from mass-market Android continued to reduce the 's top line.
Merger-related costs of $14.9 million and restructuring charges of $11.7 million introduced new expense items not present in the prior-year quarter, reflecting the progressing Skyworks transaction.
What to watch
Whether the Skyworks merger closes within the calendar year as expected, and if regulatory approvals require divestitures of product lines with up to $100 million in annual —or if the deal breaks and triggers a termination fee of up to $298.7 million.
Whether the 48.9% is sustainable as the Android pullback fully cycles through, or if average selling price erosion in remaining smartphone segments begins to weigh on profitability.
Whether High Performance Analog sustains its 50.2% growth trajectory as the DOCSIS 4.0 and defense order cycle matures, or if the Q1 FY2027 result represents a peak.
generation and capital allocation after the merger closes or breaks, given the suspension of buybacks and the $1.22 billion cash balance.
more than tripled to $96.8M from $30.1M, aided by the increase and lower operating expenses, including a $9.8M reduction in R&D and a $6.2M reduction in marketing and selling costs from CSG consolidation.
Other operating expense rose to $41.6M from $14.6M, driven by $14.9M in merger-related costs and $11.7M in restructuring charges tied to the pending Skyworks transaction.
was $139.5M, down from $182.9M, as growth was partially offset by a increase driven by higher inventories for upcoming customer device launches.
The company is progressing toward closing the merger with Skyworks within the calendar year, having received stockholder approval and completed consent solicitations to amend its outstanding note covenants.
Quantitative and Qualitative Disclosures About Market Risk
There have been no material changes to our market risk exposures during the first quarter of fiscal 2027. For a discussion of our exposure to market risk, refer to Item 7A, "Quantitative and Qualitative Disclosures About Market Risk," contained in Qorvo's Annual Report on Form 1…
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There have been no material changes to our market risk exposures during the first quarter of fiscal 2027. For a discussion of our exposure to market risk, refer to Item 7A, "Quantitative and Qualitative Disclosures About Market Risk," contained in Qorvo's Annual Report on Form 10-K for the fiscal year ended March 28, 2026.
In addition to the other information set forth in this report and in our other reports and statements that we file with the U.S. Securities and Exchange Commission (the "SEC"), careful consideration should be given to the factors discussed in Part I, Item 1A., "Risk Factors" in…
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In addition to the other information set forth in this report and in our other reports and statements that we file with the U.S. Securities and Exchange Commission (the "SEC"), careful consideration should be given to the factors discussed in Part I, Item 1A., "Risk Factors" in Qorvo's Annual Report on Form 10-K for the fiscal year ended March 28, 2026, which could materially affect our business, financial condition or future results. The risks described in Qorvo's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q are not the only risks that we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results.