Cirrus Logic Inc The KeyBanc Technology Leadership Forum 2026

Welcome, guys. Thank you. Thanks for having us.

I'd say nothing has fundamentally changed. I think it's our strategy in execution mode. Obviously, we've been trying to expand our content footprint for quite some time beyond audio. Part of the way to do that is to not just show up with a piece of paper saying we can do something, but to actually show up with real silicon data to prove out the IP and to prove it's ready for inclusion in custom products. We've been doing that, and I think that's materializing in opportunities for both incremental growth as well as next-generational content expansion. I don't think anything has fundamentally changed, but that effort to prove out that IP in silicon is starting to become real.

Sure. We've said we aren't planning to ramp any brand-new custom silicon products this year. But we're still excited with the broad portfolio of products we do have across audio and HPMS in terms of what customers can do with those products, in terms of attach rates and configurations to address the requirements in evolving portfolio products. We don't have anything specifically ramping this year. We're in development on multiple fronts, as we've talked about in the last question regarding the kind of content expansion and the opportunity to drive that being so exciting in the coming few years. But certainly in the next year, we do think there's opportunity for some kind of incremental gains just by using the existing portfolio of products which we do have.

That's a reasonable way to think about it.

Well, we've got to do our job to continue executing the product, which remains on track. We benefited from our customer talking about that product publicly, and the collaboration on the product, but also around bringing up capacity and manufacturing footprint in America as part of that particular program. We just need to do our job. Unlike the power conversion and control IC, which was a brand-new function, first chip of its kind in that particular application, this program is part of an existing subsystem that's important, and the functionality and the performance we bring will be an enhancement to the current solutions. We just need to keep focused on execution and to support the customer.

Well, we've certainly, in the last 5, 6 years, deployed 3 generations of products, each one with expanding performance capabilities and therefore value. We're developing the fourth generation now, and there's certainly no shortage of roadmap and innovation left in that application set. Certainly, there's a variety of different types of cameras and lenses and requirements that, to your point, we've seen a nice uptake of multiple generations in the same product as we introduce newer versions. Certainly different attach rates as we go forward in terms of that cascading throughout the portfolio. I think there's still quite a bit of runway. As I mentioned, we've had expansion of that value over each one of the generations, and remain focused on tight collaboration with the customer around the roadmap to really help drive the innovation piece of it.

Yeah. Certainly cost increases in the supply chain and capacity constraints are out there, right? It's not just memory, it's SoC. It's also the back end. It's getting very tight. I think it's important for us, at least up to this point, a lot of the input costs have been negotiated, so those haven't necessarily shown up. We're to the end of one of our agreements with one of the foundries and getting ready to enter a next one, which gives us some capacity and price certainty. We continue to monitor and aggressively work the supply chain and aggressively work cost reduction opportunities. To the extent that we have to do targeted price increases, we will do that and look into that. We did guide that we, despite in this environment, we actually thought gross margin would be a little higher this quarter.