swks-20260102

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 January 2, 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 February 3, 2026, the registrant had 150,373,612 shares of common stock, par value $0.25 per share, outstanding.

SKYWORKS SOLUTIONS, INC.

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTER ENDED JANUARY 2, 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			16

ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK			23

ITEM 4: CONTROLS AND PROCEDURES			23

PART II. OTHER INFORMATION			25

ITEM 1: LEGAL PROCEEDINGS			25

ITEM 1A: RISK FACTORS			25

ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS			25



ITEM 6: EXHIBITS			26

SIGNATURES			28


	Three Months Ended
	January 2, 2026		December 27, 2024
Net revenue	$	1,035.4	$	1,068.5
Cost of goods sold	608.2		626.6
Gross profit	427.2		441.9
Operating expenses:
Research and development	203.4		176.4
Selling, general, and administrative	108.4		82.6
Amortization of intangibles	0.2		0.2
Restructuring, impairment, and other charges	11.4		1.6
Total operating expenses	323.4		260.8
Operating income	103.8		181.1
Interest expense	(6.3)		(6.8)
Other income, net	12.2		16.1
Income before income taxes	109.7		190.4
Provision for income taxes	30.5		28.4
Net income	$	79.2	$	162.0
Earnings per share:
Basic	$	0.53	$	1.01
Diluted	$	0.53	$	1.00
Weighted average shares:
Basic	149.5		160.4
Diluted	150.5		161.4


	As of
	January 2, 2026		October 3, 2025
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	1,550.4	$	1,161.3
Marketable securities	8.3		212.9
Receivables, net of allowances of $0.9 and $0.9, respectively	398.4		598.1
Inventory	767.5		754.7
Other current assets	378.4		350.0
Total current assets	3,103.0		3,077.0
Property, plant, and equipment, net	1,179.0		1,194.6
Operating lease right-of-use assets	184.7		192.4
Goodwill	2,176.7		2,176.7
Intangible assets, net	764.5		809.0
Deferred tax assets, net	375.6		375.6
Marketable securities	9.9		14.2
Other long-term assets	74.5		77.5
Total assets	$	7,867.9	$	7,917.0
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	209.3	$	236.0
Accrued compensation and benefits	128.5		180.7
Current portion of long-term debt	499.6		499.4
Other current liabilities	457.6		407.1
Total current liabilities	1,295.0		1,323.2
Long-term debt	496.6		496.4
Long-term tax liabilities	90.3		85.7
Long-term operating lease liabilities	158.3		170.5
Other long-term liabilities	68.8		84.1
Total liabilities	2,109.0		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; 149.9 shares issued and outstanding at January 2, 2026, and 148.7 shares issued and outstanding at October 3, 2025	37.5		37.2
Additional paid-in capital	97.1		68.1
Retained earnings	5,629.7		5,656.9
Accumulated other comprehensive loss	(5.4)		(5.1)
Total stockholders’ equity	5,758.9		5,757.1
Total liabilities and stockholders’ equity	$	7,867.9	$	7,917.0


	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















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


	Current				Noncurrent
	January 2, 2026		October 3, 2025		January 2, 2026		October 3, 2025
U.S. Treasury and government securities	$	6.6	$	112.4	$	9.9	$	14.2
Corporate bonds and notes	1.7		100.5		—		—

Total marketable securities	$	8.3	$	212.9	$	9.9	$	14.2


		As of
	Weighted Average Amortization Period (Years)	January 2, 2026						October 3, 2025
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology and other	6.4	$	1,396.5	$	(716.4)	$	680.1	$	1,396.5	$	(678.5)	$	718.0
Technology licenses	3.2	106.6		(25.0)		81.6		167.0		(78.8)		88.2
In-process research and development		2.8		—		2.8		2.8		—		2.8
Total intangible assets		$	1,505.9	$	(741.4)	$	764.5	$	1,566.3	$	(757.3)	$	809.0


	Remaining 2026		2027		2028		2029		2030		Thereafter
Amortization expense	$	128.7	$	159.2	$	124.6	$	91.0	$	83.2	$	175.0


	Fiscal Years Ended
	October 2, 2026				October 3, 2025
	Per Share		Total Amount		Per Share		Total Amount
First quarter	$	0.71	$	106.4	$	0.70	$	112.5


	Three Months Ended
(dollars in millions)	January 2, 2026		Change	December 27, 2024
Net revenue	$	1,035.4	(3.1)%	$	1,068.5


	Three Months Ended
(in millions)	January 2, 2026		December 27, 2024
Cash and cash equivalents at beginning of period	$	1,161.3	$	1,368.6
Net cash provided by operating activities	395.5		377.2
Net cash provided by investing activities	139.0		7.5
Net cash used in financing activities	(145.4)		(150.8)
Cash and cash equivalents at end of period	$	1,550.4	$	1,602.5


Period	Total Number of Shares Purchased		Average Price Paid per Share	Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (1) (2)
10/04/25 - 10/31/25	—		—	—	$1.2 billion
11/01/25 - 11/28/25	621,305	(3)	$62.78	—	$1.2 billion
11/29/25 - 01/02/26	—		—	—	$1.2 billion
	621,305			—


	Three Months Ended
	January 2, 2026		December 27, 2024
United States	$	805.7	$	846.7
Taiwan	71.8		65.1
China	63.1		70.8
South Korea	43.7		48.1
Europe, Middle East, and Africa	41.3		28.2
Other Asia-Pacific	9.8		9.6
Total net revenue	$	1,035.4	$	1,068.5


	As of
	January 2, 2026				October 3, 2025
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
1.80% Senior Notes due 2026	$	499.6	$	494.4	$	499.4	$	491.1
3.00% Senior Notes due 2031	496.6		453.0		496.4		453.4
Total debt under Senior Notes	$	996.2	$	947.4	$	995.8	$	944.5


	As of
	January 2, 2026		October 3, 2025
Raw materials	$	49.8	$	44.8
Work-in-process	512.4		540.6
Finished goods	205.3		169.3
Total inventory	$	767.5	$	754.7


	As of
	January 2, 2026		October 3, 2025
Land and improvements	$	11.9	$	11.9
Buildings and improvements	651.8		649.0
Furniture and fixtures	97.0		95.6
Machinery and equipment	3,493.8		3,463.4
Construction in progress	100.1		86.7
Total property, plant, and equipment, gross	4,354.6		4,306.6
Accumulated depreciation	(3,175.6)		(3,112.0)
Total property, plant, and equipment, net	$	1,179.0	$	1,194.6

SEC Form 10-Q filed by Skyworks Solutions Inc.