CRUS Q1 revenue +12.9% YoY to $459.7M; Apple concentration rises to 90%; tax rate falls to 18.4%

Filed August 5, 2026 · Period ending June 27, 2026 · Compared to 10-Q Aug 5, 2025 · ~2 min read

Key Changes

• high

  Apple concentration increased to 90% of total net sales in Q1 FY2027 from 86% in Q1 FY2026, heightening revenue dependence on a single customer.

  Risk Factors: Customer Concentration verify on EDGAR →
• high

  Effective tax rate fell to 18.4% from 24.7% YoY as the One Big Beautiful Bill Act (enacted July 4, 2025) reinstated immediate expensing of U.S. R&D expenditures, reversing a prior Tax Cuts and Jobs Act provision.

  MD&A: Effective Tax Rate verify on EDGAR →
• high

  IRS examination of fiscal years 2017-2019 proposes $168.3M in additional tax and $63.7M in penalties on transfer pricing; company disputes the adjustments and is prepared to pursue litigation if IRS Appeals does not reach an acceptable outcome.

  Risk Factors: IRS Examination verify on EDGAR →