SWKS Q3 revenue down 3% on customer share loss; Qorvo merger awaits FTC clearance

Filed July 28, 2026 · Period ending July 3, 2026 · Compared to 10-Q Aug 5, 2025 · ~2 min read

Key Changes

• high

  Revenue declined 3.1% to $934.8M (Q3 FY26 vs Q3 FY25) driven by market share loss at a significant customer, partially offset by automotive and data center product growth. Note: the compared periods contain different numbers of weeks (52-week vs 53-week fiscal years).

  MD&A: Revenue drivers verify on EDGAR →
• high

  $22 billion Qorvo merger announced October 2025 (0.960 SWKS shares + $32.50 cash per Qorvo share). FTC issued Second Request February 2026; both parties certified substantial compliance and are working with FTC staff. Stockholder approvals obtained; companies hope to close within calendar year.

  Notes: Qorvo merger transaction verify on EDGAR →
• high

  Operating cash flow declined 53% to $516.2M (up to $1,500.0 million, nine months FY26 vs FY25), driven by $386.9M working capital outflows (primarily inventory) and lower net income.

  MD&A: Operating cash flow verify on EDGAR →