Cirrus Logic, Inc. (NASDAQ:CRUS) Q4 2023 Earnings Conference Call May 4, 2023 6:00 PM ET

Company Participants

Chelsea Heffernan - Director, IR

John Forsyth - CEO, President & Director

Venkatesh Nathamuni - CFO & Principal Accounting Officer

Conference Call Participants

Matthew Ramsay - TD Cowen

Tore Svanberg - Stifel

Blayne Curtis - Barclays Bank

Christopher Rolland - Susquehanna Financial Group

Ananda Baruah - Loop Capital Markets

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Cirrus Logic Fourth Quarter Fiscal Year 2023 Financial Results Q&A session. [Operator Instructions]. As a reminder, this conference call is being recorded for replay purposes. I would now like to turn the conference over to Ms. Chelsea Heffernan, Vice President of Investor Relations. Ms. Heffernan, you may begin.

Chelsea Heffernan

Thank you, and good afternoon. Joining me on today's call is John Forsyth, Cirrus Logic's Chief Executive Officer; and Venk Nathamuni, Chief Financial Officer. Today, at approximately 4:00 p.m. Eastern Time, we announced our financial results for the fourth quarter and full fiscal year 2023. The shareholder letter discussing our financial results, the earnings press release and the webcast of this Q&A session are all available on the company's Investor Relations website. This call will feature questions from analysts covering our company. Additionally, the results and guidance we will discuss on this call will include non-GAAP financial measures that exclude certain items. Reconciliations of these non-GAAP measures to their most directly comparable GAAP measures are included in our earnings release and are all available on the company's Investor Relations website.

Please note that during this session, we may make projections and other forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially from projections. By providing this information, the company expressly disclaims any obligation to update or revise any projections or forward-looking statements, whether as a result of new development or otherwise. Please refer to the press release and the shareholder letter issued today, which are available on the Cirrus Logic website and the latest Form 10-K as well as other corporate filings registered with the Securities and Exchange Commission, for additional discussion of risk factors that could cause actual results to differ materially from current expectations.

Now I'd like to turn the call over to John.

John Forsyth

Thank you, Chelsea, and thank you, everyone, for joining today's call. As you have seen in the press release, in FY '23, Cirrus Logic delivered record full fiscal year revenue of $1.9 billion, up 7% year-over-year driven by higher sales of components shipping and smartphones. Venk is going to discuss those results in greater detail shortly. But before we get to that, I'd like to take a moment to highlight the progress we've made on our long-term growth strategy over the last year.