Form 10-K · Annual report
Qualcomm 10-K, filed Nov 4, 2026
- Filed
- CIK
- 0000804328
- Accession no.
- 0000804328-26-000128
Summary
Qualcomm reported fiscal 2026 revenue of $43.1 billion, down $1.2 billion from fiscal 2025, as lower handset chipset shipments to major OEMs amid memory supply constraints offset growth in automotive and data-center revenue. The company recorded a $4.2 billion income tax benefit after releasing a $5.7 billion valuation allowance on federal deferred tax assets following IRS Notice 2026-07, and said it expects memory constraints, higher supplier costs and tariffs to weigh on results while data-center revenue ramps under custom silicon agreements with hyperscale customers.
Key points
- QCT segment revenue fell to $37.2 billion from $38.4 billion, with handset revenue down $3.7 billion and automotive revenue up $2.0 billion.
- Gross margin declined to 53% from 55%, and research and development spending rose $1.2 billion to $10.2 billion.
- Qualcomm acquired Alphawave IP Group plc in the first quarter of fiscal 2026, contributing to higher data-center revenue.
- The company said it expects data-center revenue growth beginning in the first quarter of fiscal 2027 as shipments ramp under custom silicon agreements with large hyperscale customers.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 7. Management’s Discussion Results of Operations Revenues (in millions) 2026 2025 Change Equipment and services $ 36,895 $ 37,869 $ (974) Licensing 6,225 6,415 (190) $ 43,120 $ 44,284 $ (1,164) 2026 vs. 2025 The decrease in revenues in fiscal 2026 was primarily due to: - $1.1 billion in lower equipment and services revenue from our QCT segment + $235 million in higher equipment and services revenues from our Data Center business, primarily driven by our acquisition of Alphawave IP Group plc (Alphawave) in the first quarter of fiscal 2026 Costs and Expenses (in millions, except percentages) 2026 2025 Change Cost of revenues $ 20,222 $ 19,738 $ 484 Gross margin 53 % 55 % 2026 vs. …
An excerpt of the text as filed with the SEC, cut for length.
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