swks-20260703

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended July 3, 2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________to__________

Commission file number 001-05560

Skyworks Solutions, Inc.

(Exact name of registrant as specified in its charter)


Delaware			04-2302115
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)

5260 California Avenue			92617
Irvine, California
(Address of principal executive offices)			(Zip Code)


	(949)	231-3000
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.25 per share	SWKS	Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. þ Yes ¨ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). þ Yes ¨ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer ☐

Non-accelerated filer ☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes þ No

As of July 23, 2026, the registrant had 150,472,782 shares of common stock, par value $0.25 per share, outstanding.

SKYWORKS SOLUTIONS, INC.

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTER ENDED JULY 3, 2026

TABLE OF CONTENTS


			PAGE NO.
PART I. FINANCIAL INFORMATION

ITEM 1: FINANCIAL STATEMENTS (UNAUDITED)			2

CONSOLIDATED STATEMENTS OF OPERATIONS			2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME			3

CONSOLIDATED BALANCE SHEETS			4

CONSOLIDATED STATEMENTS OF CASH FLOWS			5

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY			6

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS			7

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS			18

ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK			25

ITEM 4: CONTROLS AND PROCEDURES			25

PART II. OTHER INFORMATION			27

ITEM 1: LEGAL PROCEEDINGS			27

ITEM 1A: RISK FACTORS			27

ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS			27



ITEM 6: EXHIBITS			28

SIGNATURES			29

Table of Contents

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED).

SKYWORKS SOLUTIONS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited, in millions, except per share amounts)


	Three Months Ended				Nine Months Ended
	July 3, 2026		June 27, 2025		July 3, 2026		June 27, 2025
Net revenue	$	934.8	$	965.0	$	2,913.9	$	2,986.7
Cost of goods sold	559.8		564.0		1,726.3		1,752.1
Gross profit	375.0		401.0		1,187.6		1,234.6
Operating expenses:
Research and development	207.8		199.4		623.5		562.4
Selling, general, and administrative	98.7		89.3		326.8		259.9
Amortization of intangibles	0.2		0.2		0.7		0.7
Restructuring, impairment, and other charges	19.8		1.5		42.2		22.6
Total operating expenses	326.5		290.4		993.2		845.6
Operating income	48.5		110.6		194.4		389.0
Interest expense	(5.9)		(6.6)		(19.8)		(20.2)
Other income, net	6.2		8.0		29.3		35.9
Income before income taxes	48.8		112.0		203.9		404.7
Provision for income taxes	14.9		7.0		55.2		69.0
Net income	$	33.9	$	105.0	$	148.7	$	335.7
Earnings per share:
Basic	$	0.23	$	0.70	$	0.99	$	2.15
Diluted	$	0.22	$	0.70	$	0.99	$	2.14
Weighted average shares:
Basic	150.4		150.0		150.1		156.3
Diluted	151.4		150.3		150.8		156.9

See accompanying Notes to Consolidated Financial Statements.

Table of Contents

SKYWORKS SOLUTIONS, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited, in millions)


	Three Months Ended				Nine Months Ended
	July 3, 2026		June 27, 2025		July 3, 2026		June 27, 2025
Net income	$	33.9	$	105.0	$	148.7	$	335.7
Other comprehensive loss, net of tax:
Fair value of investments	—		—		(0.1)		(0.1)
Pension adjustments	—		—		(0.2)		—
Comprehensive income	$	33.9	$	105.0	$	148.4	$	335.6

See accompanying Notes to Consolidated Financial Statements.

Table of Contents

SKYWORKS SOLUTIONS, INC.

CONSOLIDATED BALANCE SHEETS

(In millions, except per share amounts)


	As of
	July 3, 2026		October 3, 2025
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	790.0	$	1,161.3
Marketable securities	9.2		212.9
Receivables, net of allowances of $0.9 and $0.9, respectively	348.2		598.1
Inventory	1,015.5		754.7
Other current assets	548.0		350.0
Total current assets	2,710.9		3,077.0
Property, plant, and equipment, net	1,205.7		1,194.6
Operating lease right-of-use assets	174.7		192.4
Goodwill	2,176.7		2,176.7
Intangible assets, net	678.8		809.0
Deferred tax assets, net	368.1		375.6
Marketable securities	14.6		14.2
Other long-term assets	95.5		77.5
Total assets	$	7,425.0	$	7,917.0
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	268.6	$	236.0
Accrued compensation and benefits	173.4		180.7
Current portion of long-term debt	—		499.4
Other current liabilities	432.3		407.1
Total current liabilities	874.3		1,323.2
Long-term debt	496.9		496.4
Long-term tax liabilities	108.5		85.7
Long-term operating lease liabilities	147.9		170.5
Other long-term liabilities	59.1		84.1
Total liabilities	1,686.7		2,159.9
Commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock, no par value: 25.0 shares authorized, no shares issued	—		—
Common stock, $0.25 par value: 525.0 shares authorized; 150.5 shares issued and outstanding at July 3, 2026, and 148.7 shares issued and outstanding at October 3, 2025	37.6		37.2
Additional paid-in capital	220.6		68.1
Retained earnings	5,485.5		5,656.9
Accumulated other comprehensive loss	(5.4)		(5.1)
Total stockholders’ equity	5,738.3		5,757.1
Total liabilities and stockholders’ equity	$	7,425.0	$	7,917.0

See accompanying Notes to Consolidated Financial Statements.

Table of Contents

SKYWORKS SOLUTIONS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited, in millions)


	Nine Months Ended
	July 3, 2026		June 27, 2025
Cash flows from operating activities:
Net income	$	148.7	$	335.7
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation	168.9		168.9
Depreciation	216.1		206.3
Amortization of intangible assets	130.4		139.8
Deferred income taxes	7.6		21.1

Amortization of debt discount and issuance costs	1.4		1.5
Other, net	(2.7)		(5.2)
Changes in assets and liabilities:
Receivables, net	250.0		112.6
Inventory	(268.1)		85.2
Accounts payable	30.0		32.6
Other current and long-term assets and liabilities	(166.1)		2.3
Net cash provided by operating activities	516.2		1,100.8
Cash flows from investing activities:
Capital expenditures	(226.0)		(139.0)
Purchased intangibles	(19.8)		(24.1)
Purchases of marketable securities	(28.6)		(415.9)
Sales and maturities of marketable securities	232.7		473.9
Other	3.3		2.2
Net cash used in investing activities	(38.4)		(102.9)
Cash flows from financing activities:
Repurchase of common stock - payroll tax withholdings on equity awards	(41.6)		(43.4)
Repurchase of common stock - stock repurchase program	(7.5)		(830.2)
Dividends paid	(320.1)		(327.0)

Proceeds from employee stock purchase plan	21.2		20.0
Debt financing costs	(1.1)		—
Payments of debt	(500.0)		—
Net cash used in financing activities	(849.1)		(1,180.6)
Net decrease in cash and cash equivalents	(371.3)		(182.7)
Cash and cash equivalents at beginning of period	1,161.3		1,368.6
Cash and cash equivalents at end of period	$	790.0	$	1,185.9
Supplemental cash flow disclosures:
Income taxes paid	$	127.2	$	137.5
Interest paid	$	24.7	$	24.7
Incentives paid in common stock	$	16.6	$	—
Non-cash investing in purchased intangibles, accrued but not paid	$	—	$	84.9
Non-cash investing in capital expenditures, accrued but not paid	$	37.5	$	35.9
Operating lease assets obtained in exchange for new lease liabilities	$	5.5	$	27.1

See accompanying Notes to Consolidated Financial Statements.

Table of Contents

SKYWORKS SOLUTIONS, INC.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited, in millions)


	Shares of common stock	Par value of common stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive loss		Total stockholders’ equity
Balance at October 3, 2025	148.7	$	37.2	$	68.1	$	5,656.9	$	(5.1)	$	5,757.1
Net income	—	—		—		79.2		—		79.2
Exercise and settlement of share-based awards, net of shares withheld for taxes	1.2	0.3		(22.7)		—		—		(22.4)
Share-based compensation expense	—	—		51.7		—		—		51.7

Dividends declared	—	—		—		(106.4)		—		(106.4)
Other comprehensive loss	—	—		—		—		(0.3)		(0.3)
Balance at January 2, 2026	149.9	$	37.5	$	97.1	$	5,629.7	$	(5.4)	$	5,758.9
Net income	—	$	—	$	—	$	35.6	$	—	$	35.6
Exercise and settlement of share-based awards, net of shares withheld for taxes	0.5	0.1		20.0		—		—		20.1
Share-based compensation expense	—	—		57.9		—		—		57.9

Dividends declared	—	—		—		(106.8)		—		(106.8)

Balance at April 3, 2026	150.4	$	37.6	$	175.0	$	5,558.5	$	(5.4)	$	5,765.7
Net income	—	$	—	$	—	$	33.9	$	—	$	33.9
Exercise and settlement of share-based awards, net of shares withheld for taxes	0.1	—		(1.7)		—		—		(1.7)
Share-based compensation expense	—	—		47.3		—		—		47.3

Dividends declared	—	—		—		(106.9)		—		(106.9)

Balance at July 3, 2026	150.5	$	37.6	$	220.6	$	5,485.5	$	(5.4)	$	5,738.3

Balance at September 27, 2024	159.9	$	40.0	$	269.4	$	6,032.9	$	(5.6)	$	6,336.7
Net income	—	—		—		162.0		—		162.0
Exercise and settlement of share-based awards, net of shares withheld for taxes	0.8	0.2		(38.5)		—		—		(38.3)
Share-based compensation expense	—	—		52.8		—		—		52.8

Dividends declared	—	—		—		(112.5)		—		(112.5)

Balance at December 27, 2024	160.7	$	40.2	$	283.7	$	6,082.4	$	(5.6)	$	6,400.7
Net income	—	$	—	$	—	$	68.7	$	—	$	68.7
Exercise and settlement of share-based awards, net of shares withheld for taxes	0.3	0.1		19.4		—		—		19.5
Share-based compensation expense	—	—		66.4		—		—		66.4
Repurchase of common stock	(7.4)	(1.9)		(369.5)		(132.9)		—		(504.3)
Dividends declared	—	—		—		(110.6)		—		(110.6)
Other comprehensive loss	—	—		—		—		(0.1)		(0.1)
Balance at March 28, 2025	153.6	$	38.4	$	—	$	5,907.6	$	(5.7)	$	5,940.3
Net income	—	$	—	$	—	$	105.0	$	—	$	105.0
Exercise and settlement of share-based awards, net of shares withheld for taxes	—	—		(4.5)		—		—		(4.5)
Share-based compensation expense	—	—		49.0		—		—		49.0
Repurchase of common stock	(5.2)	(1.3)		(44.5)		(287.6)		—		(333.4)
Dividends declared	—	—		—		(103.9)		—		(103.9)

Balance at June 27, 2025	148.4	$