Companies / Qualcomm COMPANY FILINGS
Qualcomm QCOM For fiscal 2025 ended September 28, 2025, Qualcomm developed technologies and products for mobile devices, automotive uses and internet-connected devices (the internet of things, or IoT). Its principal revenue sources were sales of integrated circuits (chips) and fees for licensing its intellectual property.
Business description: FY2025 CIK 0000804328 Source: SEC EDGAR
Overview 10-K summary Balance sheet Original filings
Annual reports 5
Report coverage 2021–2025
Financial statement focus Balance sheet READ THE FILING
Annual report insights AI summary AI-generated summaries of the cited 10-K filings. For informational purposes only; not personalized investment advice.
Choose a fiscal year FY2025 Fiscal 2025 revenue reached US$44.3 billion, up 14% from fiscal 2024. QCT, its chip and related-products business, grew revenue 16%, which management attributed primarily to higher phone, internet-of-things and automotive revenue.
Source: 2025 Fiscal 2025 net income fell 45% to US$5.5 billion. Qualcomm recorded a US$5.7 billion fourth-quarter tax expense to reduce future federal tax benefits already recognized in its accounts. This valuation allowance followed tax-law changes that led management to conclude it no longer expected to use substantially all of those existing benefits; it is an accounting adjustment, not a statement that US$5.7 billion was paid in cash tax.
Source: 2025 View full 10-K summary 2025 Hide full 10-K summary 2025 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Negative signals Apple modems The filing reported that Apple had begun using its own modem instead of Qualcomm's in recently released smartphones. Separately, management expected Apple's increasing use of its own modems in future devices to significantly hurt QCT revenue, operating results and cash flows.
Source: 2025 Huawei royalties QTL, Qualcomm's technology-licensing business, excluded royalty fees for Huawei's use of licensed technology beginning in the second quarter of fiscal 2025 because Huawei's license agreement had expired.
Source: 2025 Business context Pending acquisition Qualcomm agreed to acquire Alphawave, with management intending the acquisition to support expansion into data centers. The transaction remained pending in this filing, subject to closing conditions including regulatory approvals; management expected completion in the first quarter of calendar 2026.
Source: 2025 Business in fiscal 2025 For fiscal 2025 ended September 28, 2025, Qualcomm developed technologies and products for mobile devices, automotive uses and internet-connected devices (the internet of things, or IoT). Its principal revenue sources were sales of integrated circuits (chips) and fees for licensing its intellectual property.
Source: 2025
5-year changes FY2021–FY2025 These changes use selected original filing passages and nearby context from the stated five fiscal years. They are not an exhaustive review of all five reports and exclude later-year filings.
Acquisition objectives Qualcomm completed its Nuvia acquisition in March 2021 and expected the acquired technologies to enter certain QCT semiconductor products after development. In June 2025, it agreed to acquire Alphawave with the stated aim of supporting expansion into data centers. Unlike the completed Nuvia transaction, Alphawave remained pending in the fiscal 2025 filing, subject to closing conditions including regulatory approvals.
Source: 2021 , 2025 Tax treatment The fiscal 2024 report said domestic research and development costs had to be spread over five years for federal tax deductions. The fiscal 2025 report said legislation enacted July 4, 2025 restored deductions as those costs are incurred, beginning in fiscal 2026. Separately, Qualcomm recorded a $5.7 billion fourth-quarter fiscal 2025 tax charge to establish a valuation allowance—a reduction in recognized future tax benefits—because management no longer expected to use substantially all of the future federal tax benefits already recorded in its accounts. This accounting allowance is distinct from a cash tax payment.
Source: 2024 , 2025 Securities litigation In the fiscal 2022 report, Qualcomm's consolidated securities class action was awaiting a ruling on class certification, which determines whether claims can proceed for a group. The fiscal 2023 report disclosed that certification had been granted in part and denied in part. The court approved a settlement on September 27, 2024; Qualcomm recorded a $75 million settlement charge in the third quarter of fiscal 2024 and paid it in the fourth quarter.
Source: 2022 , 2023 , 2024 Request a correction FINANCIAL STATEMENTS
Balance sheet A snapshot of what Qualcomm owns and owes at a point in time.
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Annual reports & SEC 10-K filings SEC EDGAR 5 reports in this collection
Report yearAll years 2025 2024 2023 2022 2021 Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
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