| Imagery Source: Wikimedia Commons / Gpkp |
| Information Source: Lam Research Corporation |
| Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended June 29, 2025 (the "June 2025 quarter"). |
| Highlights for the June 2025 quarter were as follows: |
- Revenue of $5.17 billion.
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- U.S. GAAP gross margin of 50.1%, U.S. GAAP operating income as a percentage of revenue of 33.7%, and U.S. GAAP diluted EPS of $1.35.
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- Non-GAAP gross margin of 50.3%, non-GAAP operating income as a percentage of revenue of 34.4%, and non-GAAP diluted EPS of $1.33.
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| U.S. GAAP Financial Results |
| For the June 2025 quarter, revenue was $5,171 million, gross margin was $2,590 million, or 50.1% of revenue, operating expenses were $849 million, operating income was 33.7% of revenue, and net income was $1,720 million, or $1.35 per diluted share on a U.S. GAAP basis. This compares to revenue of $4,720 million, gross margin of $2,314 million, or 49.0% of revenue, operating expenses of $752 million, operating income of 33.1% of revenue, and net income of $1,331 million, or $1.03 per diluted share, for the quarter ended March 30, 2025 (the "March 2025 quarter"). |
| Non-GAAP Financial Results |
| For the June 2025 quarter, non-GAAP gross margin was $2,601 million, or 50.3% of revenue; non-GAAP operating expenses were $822 million; non-GAAP operating income was 34.4% of revenue; and non-GAAP net income was $1,698 million, or $1.33 per diluted share. This compares to non-GAAP gross margin of $2,312 million, or 49.0% of revenue, non-GAAP operating expenses of $763 million, non-GAAP operating income of 32.8% of revenue, and non-GAAP net income of $1,336 million, or $1.04 per diluted share, for the March 2025 quarter. |
| "Lam delivered another solid quarter, highlighted by strong gross margins and record EPS," said Tim Archer, Lam Research's President and Chief Executive Officer. "With deposition and etch criticality intensifying in the AI era, we are executing on our long-term strategic initiatives and leveraging our differentiated product portfolio to position Lam for outperformance." |
| Balance Sheet and Cash Flow Results |
| Cash, cash equivalents, and restricted cash balances increased to $6.4 billion at the end of the June 2025 quarter compared to $5.5 billion at the end of the March 2025 quarter. The increase was primarily driven by cash generated from operating activities, partially offset by cash deployed for capital return activities and capital expenditures during the quarter. |
| Deferred revenue at the end of the June 2025 quarter increased to $2,681 million compared to $2,011 million as of the end of the March 2025 quarter. Lam's deferred revenue balance does not include shipments to customers in Japan, to whom title does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $342 million as of June 29, 2025 and $587 million as of March 30, 2025. |
| For the full document, click the link below |
| Lam Research Corporation |
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