Skyworks Updates Pro Forma Financials for Qorvo Merger with Latest Quarterly Results
QRVO sits 23% above its 52-week low of $74.92.
Summary
Skyworks filed updated pro forma financials for its acquisition of Qorvo, including Qorvo's latest quarterly results. The combined entity would have posted $5.5 billion in revenue and $168 million in net income over the last nine months, with the deal still expected to close by year-end pending regulatory approvals.
Key Events · M&A and Partnerships · QRVO
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Updated Pro Forma Financials Filed
Skyworks filed updated unaudited pro forma combined financial statements reflecting the merger with Qorvo, incorporating Qorvo's results for the quarter ended June 27, 2026. The pro forma combined revenue for the nine months ended July 3, 2026 was $5.5 billion, with net income of $168 million.
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Qorvo Standalone Quarterly Results Included
The filing includes Qorvo's unaudited condensed consolidated financial statements for the quarter ended June 27, 2026, showing revenue of $785 million, net income of $86 million, and cash of $1.33 billion. This is the first public disclosure of these quarterly figures.
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Merger Consideration and Capital Structure
The pro forma balance sheet reflects total merger consideration of $8.4 billion, comprising $2.87 billion in cash and $5.48 billion in Skyworks stock. Post-merger, the combined company would have $1.24 billion in cash, $3.93 billion in debt, and 235 million basic shares outstanding.
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Deal Timeline Remains Year-End Close
The filing reiterates that the merger is expected to close within the calendar year, subject to regulatory approvals including antitrust clearance. The exchange offers for Qorvo's senior notes remain open until September 1, 2026.
Analysis · QRVO · Manufacturing
Skyworks has filed updated pro forma combined financial statements for its pending acquisition of Qorvo, now incorporating Qorvo's just-reported June quarter results. The pro formas reveal that the combined company would have generated $5.5 billion in revenue and $168 million in net income over the last nine months, with $1.2 billion in cash and $3.9 billion in debt post-merger. This marks the first look at how Qorvo's improving standalone performance—revenue of $785 million and net income of $86 million in the quarter—flows through the deal math. The filing keeps the merger timeline on track for a year-end close, with regulatory approvals still the main gating item.
At the time of this filing, QRVO was trading at $92.00 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $8B. The 52-week trading range was $74.92 to $109.49. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.