Qorvo awaits Skyworks merger close; net income +510% on lower tax, not operations

Filed May 8, 2026 · Period ending March 28, 2026 · Compared to 10-K May 19, 2025 · ~2 min read

Key Changes

• high

  Skyworks merger approved by shareholders Feb 2026, pending regulatory clearance; expected close early 2027. Either party may terminate if not closed by Apr 2027 (extendable to Oct 2027); termination fees up to $298.7M.

  Risk Factors: Skyworks merger verify on EDGAR →
• high

  Net income rose 510% to $339.0M while operating income rose only 331% to $411.4M — the $283.4M net-income gain came 88% from below-the-line items (non-operating +$16.5M, income tax -$49.0M), not operations. Singapore's new 15% minimum tax added $39.0M in tax expense, partially offset by higher tax-holiday benefits.

  MD&A: Earnings quality verify on EDGAR →
• high

  Apple concentration rose to 50% of revenue (from 47% prior year); two-customer concentration now 59%. Tariffs are actively raising costs for U.S. manufacturing; China rare earth export restrictions added as explicit supply-chain risk.

  Risk Factors: Customer concentration & tariffs verify on EDGAR →