Revenue Analysis
Total and Operating Revenue show variability over the observed quarters. In the most recent quarter (2023-12-31), Total Revenue was $618.984 million, a significant increase from $372.822 million in 2023-03-31. Gross Profit margins also improved considerably from $186.354 million in 2023-03-31 to $317.464 million in 2023-12-31.
Cost Management
Cost of Revenue and Operating Expenses illustrate a pattern tied to revenue increases but with a notable emphasis on maintaining profitability. In the 2023-12-31 quarter, the Cost of Revenue was $301.520 million, scaling with increased revenue, compared to $186.468 million in 2023-03-31. Total Expenses also followed a similar trend, peaking at $451.796 million in the last quarter.
Profitability Analysis
EBITDA adjusted from -$39.524 million on 2023-03-31 to an improvement at $185.067 million by 2023-12-31. Operating Income and Pretax Income also increased, showcasing a recovery and growth phase, with Operating Income reaching $167.188 million by the end of 2023. Net Income demonstrated significant recovery from -$53.669 million in 2023-03-31 to $138.723 million in the latest quarter.
Cash Flow Indicators
Reconciled Depreciation ranged from $11.941 million in 2023-06-30 to increasing figures such as $18.844 million in 2023-03-31, indicating ongoing investment and amortization of assets. Interest Expense remained relatively stable, suggesting consistent financing costs.
Taxation
The Tax Rate fluctuated, with significant variance from a low of 0.083928 in 2023-03-31 to 0.315 in 2023-06-30. Tax Provisions and the Tax Effect of Unusual Items support these findings, with variances observed in the tax effects, particularly related to unusual items ranging from $0.0 in earlier quarters to significant negatives in following periods.
Shareholder Metrics
Diluted and Basic EPS both showed considerable improvement with the company’s performance. For instance, Diluted EPS went from -$0.97 in 2023-03-31 to $2.50 by 2023-12-31. Average shares outstanding remained relatively consistent, ensuring that the EPS improvements are genuine and reflect real gains in profitability.
Conclusion
The analysis indicates that CRUS has displayed significant improvement and resilience in its financial performance over the past year. Revenue growth and control over costs have propelled increased profitability. Given their recovery trajectory and operational efficiency improvements, investing in continuous growth and innovation could potentially yield further financial benefits and provide value to shareholders.
Appendices
Supporting data tables and calculations have been reviewed and utilized to determine CRUS’s financial and operational standing from the data provided.