{"url_path":"/sec/qrvo/10-k/2026/item-1","section_key":"item-1","section_title":"Item 1 BUSINESS.","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1604778/0001628280-26-032873-index.html","accession_number":"0001628280-26-032873","cik":"0001604778","ticker":"QRVO","issuer_name":"Qorvo, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1604778/0001628280-26-032873-index.html","primary_entity_key":"0001604778","primary_entity_name":"Qorvo, Inc."},"word_count":5591,"has_tables":true,"body_markdown":"ITEM 1. BUSINESS.\n\nCompany Overview\n\nQorvo® is a global leader in the development and commercialization of technologies and products for wireless, wired and power markets.\n\nWe are organized into three operating and reportable segments that align our technologies and applications with customers and end markets: High Performance Analog (\"HPA\"), Connectivity and Sensors Group (\"CSG\") and Advanced Cellular Group (\"ACG\").\n\nHPA is a leading global supplier of radio frequency (\"RF\"), analog mixed signal and power management solutions. CSG is a leading global supplier of connectivity solutions, with broad expertise spanning ultra-wideband (\"UWB\"), Matter®, Bluetooth® Low Energy (\"BLE\"), Zigbee®, Thread®, Wi-Fi® and cellular solutions for the Internet of\n\n4\n\n[Table of Contents](#i20702a1530574cc7a4597a4ae0a64f2c_7)\n\nThings (\"IoT\"). ACG is a leading global supplier of advanced cellular solutions for smartphones, wearables, laptops, tablets and other devices.\n\nProposed Mergers\n\nOn October 27, 2025, we entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among Skyworks Solutions, Inc., a Delaware corporation (“Skyworks”), the Company, Comet Acquisition Corp., a Delaware corporation and a wholly-owned subsidiary of Skyworks (“Merger Sub I”), and Comet Acquisition II, LLC, a Delaware limited liability company and a wholly-owned subsidiary of Skyworks (“Merger Sub II”). Pursuant to the Merger Agreement, and subject to the satisfaction or waiver of the conditions specified therein, (i) Merger Sub I will merge with and into the Company (the “First Merger”), with the Company surviving the First Merger as a wholly-owned subsidiary of Skyworks (the “Surviving Corporation”), and (ii) immediately following the First Merger, and as the second step in a single integrated transaction with the First Merger, the Surviving Corporation will merge with and into Merger Sub II (the “Second Merger,” and together with the First Merger, the “Mergers”), with Merger Sub II continuing as the surviving entity in the Second Merger and a wholly-owned subsidiary of Skyworks. The stockholders of both Qorvo and Skyworks approved the Merger Agreement at each company's special meeting of stockholders on February 11, 2026. Consummation of the Mergers is subject to required regulatory approvals, including certain antitrust and foreign investment approvals, and the satisfaction of other customary closing conditions. We currently anticipate the Mergers will be completed early in calendar year 2027. The foregoing summary of the Merger Agreement and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by, the Merger Agreement, which was filed as Exhibit 2.1 to our Current Report on Form 8-K filed on October 28, 2025.\n\nIndustry Trends, Markets, Products and Applications\n\nGlobal connectivity trends and the proliferation of more intelligent, data-intensive applications are increasing demand for technologies that efficiently increase data throughput, improve user experiences and enable new methods of human-machine interaction. These and other global macro trends are increasing the demand for our technologies and products.\n\nQorvo serves six primary end markets: automotive, consumer, defense and aerospace, industrial and enterprise, infrastructure and mobile. Our products solve our customers’ most complex challenges while enhancing performance, improving efficiency, increasing functionality, enabling new form factors and addressing other critical challenges.\n\nHigh Performance Analog\n\nHPA primarily serves the defense and aerospace, infrastructure, industrial and enterprise, and consumer markets.\n\nIn defense and aerospace, HPA is a leading supplier of RF products and compound semiconductor foundry and assembly services to the U.S. government, U.S. defense primes, U.S. allies and other customers. HPA focuses primarily on enabling phased array technologies for radar, electronic warfare and communications systems for defense and commercial applications. HPA engages directly with the U.S. government to develop next-generation semiconductor and packaging technologies where our long-standing relationships have positioned us as a trusted partner. As the capabilities supporting modern warfare continue to advance, the associated increase in defense spending across the U.S. and allied countries is a global macro trend that represents a tailwind for our defense and aerospace business. Focus areas include the Golden Dome defense system; upgrades to legacy radar systems; the shift to new, higher frequency bands; and the trend of “one to many,” in which a greater number of smaller, more highly integrated and scalable networked platforms (e.g., unmanned vehicles such as aerial drones and ground robots) are required to address the rapidly evolving technology landscape being deployed across military applications. Additional opportunities include increases in European Union (\"EU\") and allied defense funding in ground-, airborne-, ship-, and space-based platforms.\n\nHPA also supplies products for satellites and terminals to the leading companies in low Earth orbit (\"LEO\") satellite communication (\"SATCOM\") networks where investment is increasing globally to provide enhanced and more ubiquitous connectivity for commercial and other applications. HPA's standard product portfolio for defense and aerospace includes high-power RF amplifiers, low noise amplifiers (\"LNAs\"), switches, limiters, filters, phase shifters, mixers, multiplexers, attenuators, beamforming integrated circuits (\"ICs\"), power management ICs\n\n5\n\n[Table of Contents](#i20702a1530574cc7a4597a4ae0a64f2c_7)\n\n(\"PMICs\") and control ICs and fully integrated RF front end modules (\"FEMs\"). HPA's services portfolio includes an extensive set of compound semiconductor foundry services, wafer processing, advanced packaging and heterogeneous integration solutions.\n\nIn the infrastructure market, data-intensive use cases such as machine learning, industrial automation, robotics and augmented reality/virtual reality (\"AR/VR\") are increasing the performance and capacity requirements of cellular and broadband networks. In cellular base stations, the migration to 5G increases capacity, expands coverage and lowers the cost per bit of data. HPA supports cellular base station original equipment manufacturers (\"OEMs\") with a broad portfolio of cellular infrastructure solutions to address their most critical requirements for data capacity, throughput and efficiency. HPA also enables the integration of drones in commercial and military aerial communication infrastructure and the operation of Direct-to-Device satellite constellations with our cellular infrastructure solutions. Qorvo's cellular infrastructure products include switches, filters, LNA modules, discrete LNAs, variable gain amplifiers and control circuits. In broadband infrastructure, network operators are migrating from Data Over Cable Service Interface Specification (\"DOCSIS\") 3.1 to DOCSIS 4.0 to increase the efficiency of existing infrastructure and significantly increase download and upload speeds for end users. Qorvo is enabling the transition to DOCSIS 4.0 with a broad portfolio of products including high-output power doublers, drivers, preamplifiers, return amplifiers, voltage-controlled attenuators, digital step attenuators, switches and voltage variable equalizers.\n\nIn industrial and enterprise markets, there is increasing demand for advanced power management and motor control solutions driven by requirements for enhanced power efficiency in electronics, furthered by the need to extend battery life in battery-powered devices. HPA's solutions leverage our configurable power management intellectual property (\"IP\"). In enterprise data centers, HPA's PMIC solutions address the artificial intelligence (\"AI\")-driven demand for highly efficient enterprise solid-state drive (\"SSD\") power. We also provide differentiated solutions for motor drive and control across industrial and enterprise applications including factory motor drives and controls, large power tools, factory transport systems, robotics, industrial drones, pumps and fans.\n\nIn consumer markets, HPA’s configurable power management IP enables accelerated product development across multiple generations of products. We provide PMICs for consumer applications including wearables, chargers, portable video processing devices and solid-state drives for client computing applications. We also provide motor control and battery management solutions to industry-leading providers of appliances and electric power and garden tools. Our products reduce solution size, improve battery life, lower cost, improve system reliability and shorten customers’ product development time.\n\nConnectivity and Sensors Group\n\nCSG serves the automotive, consumer, industrial and enterprise and mobile markets. The proliferation of data-driven, connected devices that sense, process and communicate are driving demand for Qorvo's wireless connectivity solutions, which increase throughput, reduce latency, enhance security and maximize efficiency.\n\nIn automotive markets, new use cases including vehicle-to-everything (\"V2X\") communications, advanced connectivity services and secure car access are supporting the migration to more connected, more intelligent vehicles. This is increasing the content opportunity across multiple connectivity and sensing technologies, including cellular, V2X, Wi-Fi, satellite radio and UWB. V2X assists autonomous driving and our UWB solutions enable Child Presence Detection systems, which detect and alert if a child or pet is accidentally left behind in a vehicle. Our UWB solutions also contribute to vehicle security as we leverage ultra-low latency communication and precision location accuracy to enable and significantly improve the security of digital key access and digital key sharing compared to legacy technologies. Our connectivity and sensor products for automotive applications include Bulk Acoustic Wave (\"BAW\") filters, LNAs, switches, power amplifiers (\"PAs\"), front end solutions and UWB solutions. All of our automotive products meet or exceed AEC-Q100 quality and reliability standards, and our customers include market leading Tier-1 suppliers.\n\nIn consumer and mobile markets, continuing trends within AR/VR, connected home, context awareness, gaming, secure home access, secure transactions and other applications are driving requirements for connectivity and accurate location solutions. For example, in the connected home, entertainment, comfort, health monitoring, property monitoring and security can be accessed and controlled remotely through a tablet, smartphone, or peer-to-peer device such as a voice-enabled remote control or home control assistant. UWB is also enabling contextual\n\n6\n\n[Table of Contents](#i20702a1530574cc7a4597a4ae0a64f2c_7)\n\nawareness through location-based interactions, or presence detection, by leveraging the radar capabilities of UWB technology.\n\nIn industrial and enterprise markets, connectivity solutions improve operational efficiency and worker safety by enabling precise indoor turn-by-turn navigation, virtual fences and virtual replicas of physical manufacturing systems, referred to as digital twins. Real-time location tracking of mobile assets such as forklifts, robots and tools helps prevent losses and optimizes usage, while monitoring work-in-progress materials across production lines helps reduce bottlenecks and ensures just-in-time/just-in-place delivery. Geofencing of restricted areas can alert workers when they enter hazardous zones or unauthorized areas, or in the case of an incident, help direct responders to locate workers more quickly.\n\nQorvo’s connectivity product portfolio includes Wi-Fi RF front end solutions, multi-protocol (BLE, Zigbee, Matter and Thread) system-on-a-chip (\"SoC\") solutions, UWB SoCs and UWB system-in-package (\"SiP\") solutions. Qorvo’s multi-protocol SoCs enable multiple radios to connect concurrently. The coexistence of multiple low-power wireless protocols in a SoC reduces form factor, extends battery life and helps advance the proliferation of IoT devices. Qorvo’s UWB SoC and SiP solutions, in combination with our broad ecosystem of hardware, software and solutions partners, enable precision location accuracy and security in use cases including secure home access, secure car access, indoor navigation and other applications.\n\nIn Wi-Fi, new standards and architectures such as 802.11ax (Wi-Fi 6 and Wi-Fi 6E) and 802.11be (Wi-Fi 7), are enhancing performance, increasing range and capacity and enabling new use cases. The Wi-Fi 7 standard doubles the channel bandwidth and number of spatial streams compared to Wi-Fi 6E and uses multi-link operation to combine portions of the 5 GHz and 6 GHz bands into a single link, enabling faster speeds over longer distances. We have begun development for Wi-Fi 8 front end solutions in alignment with market leading chipset providers. As standards and architectures evolve, functional requirements increase and demand more highly integrated RF front end solutions. Qorvo’s Wi-Fi portfolio includes PAs, switches, LNAs and BAW filters, as well as solutions including FEMs and iFEMs featuring integrated filters.\n\nAdvanced Cellular Group\n\nACG primarily serves the mobile market, which is characterized by highly complex devices and large unit volumes of smartphones, wearables, laptops, tablets and other devices. Our portfolio includes highly integrated and functionally dense RF modules, envelope tracking (\"ET\") RF PMICs, antenna tuners, filters and switches. Our advanced cellular products leverage multiple manufacturing processes and packaging technologies, including highly differentiated Qorvo technologies.\n\nAdvances in mobile devices are transforming how end users around the world access content, interact with communities and transact commerce. The migration to 5G enables higher data throughput, lower signal latency and massive machine-type communication. 5G devices operate over a wide range of frequencies and face challenges related to efficiency, linearity, signal coexistence, signal integrity and form factor. 5G architectures are more complex and include Multiple-Input/Multiple-Output, higher frequencies with wider bandwidths, higher output power (e.g., Power Class 2 amplifiers) and new paths featuring carrier aggregation.\n\nThese challenges, along with increases in device functionality and complexity, are driving requirements for more advanced and more highly integrated system-level solutions that improve performance, enhance power efficiency and increase functional density.\n\nResearch and Development\n\nWe invest in research and development (\"R&D\") to develop advanced technologies and products to best serve our markets. Our R&D activities support large competitive design win opportunities for major programs at key customers, which require best-in-class performance, size, cost and functional density. We also invest in R&D to develop new products for broader market applications. Our R&D efforts focus on innovation in fundamental areas including materials, software, semiconductor process technologies, simulation and modeling, systems architecture, circuit design, device packaging, module integration and test capabilities.\n\nWe have developed multiple generations of gallium arsenide (\"GaAs\"), gallium nitride (\"GaN\"), BAW and surface acoustic wave (\"SAW\") process technologies that we manufacture. We invest in these technologies to improve\n\n7\n\n[Table of Contents](#i20702a1530574cc7a4597a4ae0a64f2c_7)\n\ndevice performance, reduce die size and lower manufacturing costs. We also source technologies in cooperation with key suppliers, including GaAs; silicon on insulator (\"SOI\") for LNAs, switches and tuners; silicon germanium (\"SiGe\") for amplifiers and LNAs; complementary metal oxide semiconductor (\"CMOS\") for digital controllers; specialized CMOS for PMICs, SoC solutions, ET and average power tracking (\"APT\") power management, and power control in cellular modules; and microelectromechanical system (“MEMS”) technology for switches and tuners. We are leveraging AI and machine learning in areas including product design, and we are integrating AI and machine learning functionality through integrated software in products including PMICs and SoCs. We combine these technologies with proprietary design methods, IP and other expertise to improve performance, advance integration, increase yield and reduce the size and cost of our products.\n\nWe develop and qualify advanced packaging technologies to reduce component size, improve performance and reduce package costs. We also invest in packaging R&D internally, including at our advanced microwave module assembly facility in Richardson, Texas, and in cooperation with outsourced semiconductor assembly and test companies to support the performance, size and cost roadmap required by our products.\n\nRaw Materials and Manufacturing\n\nWe purchase numerous raw materials and parts, such as silicon, passive components and substrates for our manufacturing processes. In our GaN and GaAs manufacturing operations, we use several raw materials, including GaN on silicon carbide (\"SiC\") wafers and GaAs wafers. In our acoustic filter manufacturing operations, raw materials include silicon, lithium niobate and lithium tantalate.\n\nOur procurement and supply chain functions are centralized and serve all three operating segments. We procure our materials, parts and supplies from a large number of sources through established purchase contracts with suppliers or on a purchase order basis. We enter into supply agreements, for certain items, to address short-term and long-term supply requirements. We routinely qualify additional manufacturing sites and sources of supply to reduce the risk of supply interruptions or price increases, and we continuously monitor our suppliers’ key performance indicators.\n\nA substantial portion of our revenue comes from multi-chip modules utilizing multiple semiconductor and acoustic material processing technologies. These products have varying degrees of complexity and contain semiconductors and other components that are manufactured internally or sourced from outside supply chain partners. These individual components are combined and assembled into various, miniaturized packages and tested to ensure compliance with customer specifications.\n\nIn fiscal 2026, our fabrication facilities for the production of BAW, GaAs, GaN and SAW wafers were located in North Carolina, Oregon and Texas. We also use multiple silicon-based process technologies, including SOI, SiGe and bulk CMOS, which are sourced from leading silicon foundries located throughout the world. We have a global supply chain and ship millions of units per day. In the fourth quarter of fiscal 2026, we completed the sale of our North Carolina fabrication facility and are operating under a short-term supply agreement with the buyer until we complete the transfer of SAW filter production to our Texas facility.\n\nWe have our own flip chip, wire bond and wafer-level packaging technologies that we can deploy in internal and external assembly and packaging facilities. In fiscal 2026, our internal assembly facilities were located in Costa Rica, Germany and the U.S. We also use external suppliers for these and other packaging technologies. We closed our assembly and test facility in Costa Rica in the third quarter of fiscal 2026 and transitioned to external partners.\n\nManufacturing yields can vary significantly between products, based on a number of factors including product complexity, performance requirements and the maturity of our manufacturing processes. To maximize wafer yields and quality, we test products multiple times, maintain continuous reliability monitoring and conduct numerous quality control inspections throughout the production flow.\n\nOur internal manufacturing facilities require a high level of fixed costs, consisting primarily of occupancy costs, maintenance, repair, equipment depreciation and labor costs related to manufacturing and process engineering. We attempt to match our manufacturing capacity with the varying level of demand we anticipate from our customers to optimize our factory utilization and cost efficiency.\n\n8\n\n[Table of Contents](#i20702a1530574cc7a4597a4ae0a64f2c_7)\n\nOur manufacturing strategy is to internally produce only the most differentiated elements of our products, geographically align production with customers and suppliers, and leverage the scale, capabilities, and cost effectiveness of our outsourced partners. We continuously evaluate opportunities to enhance operational efficiencies and reduce capital intensity and product costs. Our recent efforts to consolidate our manufacturing footprint include the divestitures of assembly and test operations in China and Costa Rica and the sale of our North Carolina fabrication facility.\n\nSemiconductor fabrication requires highly controlled and clean environments. Die on a wafer can be found to be nonfunctional or wafers can be rejected due to a number of reasons, including minute impurities, variances in the fabrication process or defects in the masks used to transfer circuit patterns onto the wafers.\n\nOur manufacturing facilities worldwide are certified to the International Organization for Standardization (\"ISO\") 9001 quality standard and select locations are certified to additional automotive (IATF 16949), aerospace (AS 9100) and environmental (ISO 14001) standards. These stringent standards are audited and certified by third-party auditors in addition to our ongoing internal audits. The ISO 9001 standard is based on a number of quality management principles including a strong customer focus, the motivation of top management, the process approach and continual improvement. IATF 16949 is the highest international quality standard for the global automotive industry and incorporates specific additional requirements for the automotive industry. AS 9100 is the standardized quality management system for the aerospace industry. ISO 14001 is an internationally agreed upon standard for an Environmental Management System (\"EMS\"). We require that all of our key vendors and suppliers be compliant with applicable standards.\n\nQorvo offers an extensive portfolio of GaN and GaAs foundry and assembly services from our Richardson, Texas manufacturing facility, which is a U.S. DoD Category 1A \"Trusted Source.\" This accreditation encompasses design, wafer fabrication, post-processing, packaging, assembly, and testing services.\n\nCustomers\n\nWe design, develop, manufacture and market our products and solutions for leading U.S. and international OEMs and original design manufacturers (\"ODMs\"). We also collaborate with leading reference design partners and provide foundry services to defense primes and other defense and aerospace customers.\n\nWe provide products to our largest end customer, Apple Inc. (\"Apple\"), through sales to multiple contract manufacturers, which in the aggregate accounted for 50% and 47% of total revenue in fiscal years 2026 and 2025, respectively. Samsung Electronics Co., Ltd. (\"Samsung\") accounted for 10% of total revenue in both fiscal years 2026 and 2025. These customers primarily purchase RF solutions for a variety of mobile devices.\n\nSales and Marketing\n\nWe sell our products worldwide both directly to customers and through a network of U.S. and foreign sales representative firms and distributors. We select our sales representative firms and distributors based on a variety of factors, including market coverage, sales expertise, technical capability and support, and logistics capability. We provide ongoing educational training about our products to our internal and external sales representatives and distributors. We maintain an internal sales and marketing organization that is responsible for key account management, application engineering support for customers, sales and advertising literature, and technical presentations for industry conferences. Our sales and customer support centers are located near our customers throughout the world.\n\nOur website contains extensive product information where customers can learn about our products, download product information, order products and samples and request evaluation boards. Qorvo also provides its customers with the use of a proprietary simulator (QSPICE®) for analog and mixed signal systems, which gives circuit designers the ability to more efficiently model and evaluate their designs. Our global team of application engineers interacts with customers during all stages of design and production, maintains regular contact with customer engineers, provides product application notes and engineering data, and assists in the resolution of technical problems. We maintain close relationships with our customers and provide them with strong technical support to enhance the customer experience and anticipate future product needs.\n\n9\n\n[Table of Contents](#i20702a1530574cc7a4597a4ae0a64f2c_7)\n\nSeasonality\n\nOur sales are the result of standard purchase orders or specific agreements with customers. Our revenue fluctuates based on consumer demand for devices as well as the timing of customer device launches and large defense programs. Other factors such as macroeconomic effects and the timing of the next generation of technologies can also impact the fluctuations in demand.\n\nCompetition\n\nWe operate in a competitive industry generally characterized by rapid advances in technology and new product introductions. Our customers’ product life cycles can be short, especially in mobile devices, and our competitiveness depends on our ability to improve our products and processes faster than our competitors, anticipate changing customer requirements and successfully develop and launch new products while reducing our costs. Our competitiveness is also affected by the quality of our customer service, including technical support, and in some cases our ability to design customized products that address certain customers' specific requirements. The selection process for our products is highly competitive, and our customers provide no guarantees that our products will be included in the next generation of products introduced.\n\nHPA competes primarily with Analog Devices, Inc.; Axiro Semiconductor Private Limited; MACOM Technology Solutions Holdings, Inc.; Monolithic Power Systems, Inc.; Renesas Electronics Corporation; Scientific Components Corporation (d/b/a Mini-Circuits); Silergy Corp; and Texas Instruments, Inc. CSG competes primarily with Broadcom Inc.; Murata Manufacturing Co., Ltd.; Nordic Semiconductor; NXP Semiconductors N.V.; Qualcomm Technologies, Inc.; RichWave Technology Corporation; Silicon Laboratories Inc.; Skyworks Solutions, Inc.; and Vanchip (Tianjin) Technology Co., Ltd. ACG competes primarily with Broadcom Inc.; Maxscend Microelectronics Co., Ltd.; Murata Manufacturing Co., Ltd.; Qualcomm Technologies, Inc.; Skyworks Solutions, Inc.; and Vanchip (Tianjin) Technology Co., Ltd.\n\nMany of our current and potential competitors have strong market positions and customer relationships, established patents and other IP and substantial technological capabilities. In some cases, our competitors are also our customers or suppliers. Additionally, many of our competitors have significant financial, technical, manufacturing and marketing resources which may allow them to more quickly implement new technologies and develop new products.\n\nIntellectual Property\n\nOur IP (including patents, copyrights, trademarks and trade secrets) is important to our business and we actively seek opportunities to leverage our IP portfolio to promote our business interests. We also actively monitor and protect our global IP rights to deter unauthorized use of our IP and other assets. These efforts can be difficult because of the absence of consistent international standards and laws. In addition, the laws of some foreign countries do not protect IP rights to the same extent as U.S. laws. We respect the IP rights of others and have implemented policies and procedures to mitigate the risk of infringing or misappropriating third-party IP.\n\nPatent applications are filed within the U.S. and in other strategic countries where we have a market presence. On occasion, some applications do not mature into patents for various reasons including rejections based on prior art. We have approximately 2,700 patents that have expiration dates between 2026 and 2044. We also continue to acquire patents through acquisitions or direct prosecution efforts and engage in licensing transactions to secure the right to use third-party patents. In view of our rapid innovation and product development and the comparative pace of governments’ patenting processes, there is no guarantee that patented technology for our products and services will not be obsolete before the related patents expire or are granted. However, we believe the duration and scope of our most relevant patents are sufficient to support our business, which as a whole is not significantly dependent on any particular patent or other IP right. As we expand our products and offerings, we also seek to expand our patent prosecution efforts to cover such products.\n\nWe periodically register federal trademarks, service marks and trade names that distinguish our product brand names in the market. We also monitor these marks for their proper and intended use. Additionally, we rely on non-disclosure and confidentiality agreements to protect our interest in confidential and proprietary information that gives us a competitive advantage, including business strategies, unpatented inventions, designs and process\n\n10\n\n[Table of Contents](#i20702a1530574cc7a4597a4ae0a64f2c_7)\n\ntechnology. Such information is closely monitored and made available only to those employees whose responsibilities require access to the information.\n\nHuman Capital\n\nWe believe that our employees are our greatest assets, and we must continue to attract, develop, retain and motivate our employees to remain competitive and execute our business strategy. We strive to meet these objectives by offering competitive pay and benefits in a collaborative and supportive workplace and by providing opportunities for our employees to grow and develop their careers.\n\nAs of March 28, 2026, we employed approximately 5,200 full and part-time employees in 23 countries. By region, approximately 75% of our total employees were in the Americas, 14% were in Europe and 11% were in Asia. Engineering or technician roles comprise approximately 68% of our global workforce.\n\nCompetitive Pay and Benefits\n\nWe use a combination of compensation and other programs (which vary by region and salary grade) to attract, develop, motivate and retain our employees, including semiannual performance bonuses, stock awards, an employee stock purchase plan, retirement programs, health savings and flexible spending accounts, paid time off, family leave, flexible work schedules, employee assistance programs, tuition assistance, health and wellness benefits and programs and on-site fitness centers. We routinely benchmark our compensation and benefits packages to ensure we remain competitive with our peers and continue to attract and retain talent throughout our organization.\n\nEmployee Recruitment, Retention and Development\n\nWe are committed to equal opportunity in recruiting, hiring, retaining, promoting and engaging a highly skilled workforce to best serve our global customers. We have established relationships with professional associations and industry groups to proactively attract talent, and we partner with universities for our internship program that focus on technologies that support our roadmaps. We believe that our internship program and university partnerships contribute to developing the next generation of talent, including engineers in our industry, and provide a pipeline of recent college graduates into our talent pool.\n\nOur high-performance culture is supported by a process of goal setting, continuous feedback and coaching, all geared towards fostering skill and competency growth. Complementing these efforts are a variety of talent and leadership development programs tailored to address the needs of employees across all organizational levels. Additionally, our educational assistance program, which enables employees to pursue their career aspirations, also enhances their professional capabilities and further contributes to our organizational success.\n\nWe believe our competitive compensation and benefits programs, along with career growth, development and internal mobility opportunities promote longer employee tenure and reduce turnover. We regularly monitor voluntary employee turnover, as our success depends upon retaining highly trained personnel with the technical skills necessary to execute our business objectives. Our global attrition rate has consistently been below the technology industry average.\n\nEmployee Engagement\n\nQorvo is dedicated to fostering a connected and thriving workforce. To assess and improve employee engagement, we conduct global engagement surveys, which are administered by third parties to ensure confidentiality. We are committed to actively listening to our employees and solicit feedback on a variety of factors including strategy, culture, execution, inclusion, work environment, growth and development, collaboration and engagement. The results are reviewed by senior management, who analyze areas of progress or opportunities for improvement and work with their teams to develop targeted action plans.\n\nWe sponsor an array of employee events to engage our workforce, facilitating connections and cultivating an enjoyable work environment. Moreover, our community engagement initiatives empower employees to make a tangible difference in their neighborhoods, working alongside their colleagues. Through these efforts, we are dedicated to nurturing a culture of engagement and collective impact within our organization.\n\n11\n\n[Table of Contents](#i20702a1530574cc7a4597a4ae0a64f2c_7)\n\nSafety, Health and Wellness\n\nWe are a member of the Responsible Business Alliance (the \"RBA\"), an industry coalition dedicated to driving sustainable value for workers in global supply chains, among other things. As a member of the RBA, we have adopted the RBA Code of Conduct, which establishes standards to ensure that working conditions are safe, that employees are treated with respect and dignity and that business operations are environmentally responsible and conducted ethically. The RBA Code of Conduct has been reflected in our employee policies and procedures. In addition, Qorvo is committed to complying with applicable laws and regulations of the countries in which we operate and supporting ethical labor practices that do not infringe on human rights.\n\nWe prioritize safe working conditions for our employees as well as our on-site contractors and visitors. We are committed to an injury-free workplace and provide dedicated workplace training and leadership support to reduce or eliminate health and safety risks. Our site-specific health and safety teams are critical in fostering a positive safety culture and our recordable injury rate has consistently been below the semiconductor industry average. Team members utilize our online near miss and hazard reporting system, a system critical to prevent worker injury.\n\nThe success of our business is fundamentally connected to the well-being of our employees. We provide our employees with work arrangements that support flexibility while maintaining our strong culture of innovation, collaboration and camaraderie. We provide our employees and their families access to a variety of health and wellness programs that support their physical and mental health. These programs provide tools and resources, such as health coaches and wellness incentives, which emphasize preventive care, encourage healthy behaviors and are designed to help cultivate a productive work environment while also focusing on the well-being of our employees.\n\nGovernment Regulations\n\nWe are subject to a variety of extensive and changing domestic and international federal, state and local governmental laws, regulations and ordinances related to the discharge of pollutants into the environment; the treatment, transport and disposal of hazardous waste; recycling and product packaging; worker health and safety; and other activities affecting the environment, our workforce and the management of our manufacturing operations.\n\nWe continuously improve the environmental aspects of our manufacturing processes and are dedicated to:\n\n•providing a safe and healthy work environment for our employees;\n\n•complying with regulatory and other requirements;\n\n•using natural resources, energy and materials efficiently;\n\n•evaluating ways to substitute sustainable resources in place of non-renewable resources;\n\n•reusing or recycling materials wherever technically possible and economically reasonable;\n\n•minimizing waste and disposing of waste safely and responsibly;\n\n•sourcing raw material responsibly; and\n\n•implementing specific measures to prevent and minimize hazards to humans and the environment including pollution prevention.\n\nWe believe that our operations and facilities comply in all material respects with applicable environmental laws and worker health and safety laws, and our efforts help to ensure that our products are compliant with the requirements of the markets into which the products will be sold and with our customers’ requirements. For example, our products are compliant with the European Union RoHS Directive (2011/65/EU on the Restriction of Use of Hazardous Substances), which prohibits the sale in the EU market of new electrical and electronic equipment containing certain families of substances above a specified threshold. We are an ISO 14001:2015 certified manufacturer with a comprehensive EMS in place to help ensure control of the environmental aspects and impacts\n\n12\n\n[Table of Contents](#i20702a1530574cc7a4597a4ae0a64f2c_7)\n\nof the manufacturing process. Our EMS mandates compliance, continuous improvement and establishes appropriate checks and balances to minimize the potential for non-compliance with environmental laws and regulations.\n\nWe are also subject to import/export controls, tariffs and other trade-related regulations and restrictions in countries in which we have operations or otherwise do business. These controls, tariffs, regulations and restrictions (including those related to, or affected by, U.S./China relations, as discussed below in Item 1A, \"Risk Factors\") may have a material impact on our business, including our ability to sell products and to manufacture or source components.\n\nGovernment regulations are subject to change and accordingly we are unable to assess the possible effect of compliance with future requirements or whether our compliance with such regulations will materially impact our business, results of operations or financial condition.\n\nAvailable Information\n\nWe make available, free of charge through our website (https://www.qorvo.com), our annual and quarterly reports on Forms 10-K and 10-Q (including exhibits and related filings in iXBRL format) and current reports on Form 8-K and amendments to these reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the \"Exchange Act\"), as soon as reasonably practicable after we electronically file these reports with, or furnish them to, the U.S. Securities and Exchange Commission (the \"SEC\"). The SEC maintains a website at https://www.sec.gov that contains reports, proxy and information statements and other information regarding issuers that file electronically with the SEC. The public may also request a copy of our forms filed with the SEC, without charge upon written request, directed to:\n\nInvestor Relations Department\n\nQorvo, Inc.\n\n7628 Thorndike Road\n\nGreensboro, NC 27409-9421\n\nThe information contained on or accessible through our website is not incorporated by reference or considered to be a part of this Annual Report on Form 10-K."}