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Lam Research Corporation Reports Financial Results for the Quarter Ended September 29, 2024

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FREMONT, Calif., Oct. 23, 2024 /PRNewswire/ — Lam Research Corporation (the “Company,” “Lam,” “Lam Research”) today announced financial results for the quarter ended September 29, 2024 (the “September 2024 quarter”).

On May 21, 2024, the Company announced a ten-for-one stock split which was effective October 2, 2024. All references made to share or per share amounts in this press release have been adjusted to reflect the stock split, unless otherwise indicated.

Highlights for the September 2024 quarter were as follows:

Revenue of $4.17 billion.U.S. GAAP gross margin of 48.0%, U.S. GAAP operating income as a percentage of revenue of 30.3%, and U.S. GAAP diluted EPS of $0.86.Non-GAAP gross margin of 48.2%, non-GAAP operating income as a percentage of revenue of 30.9%, and non-GAAP diluted EPS of $0.86.

 

Key Financial Data for the Quarters Ended

September 29, 2024 and June 30, 2024

(in thousands, except per-share data, percentages, and basis points) 

 

U.S. GAAP

September 2024

June 2024

Change Q/Q

Revenue

$                4,167,976

$                3,871,507

+ 8 %

Gross margin as percentage of revenue

48.0 %

47.5 %

+ 50 bps

Operating income as percentage of revenue

30.3 %

29.1 %

+ 120 bps

Diluted EPS pre-split

$                          8.56

$                          7.78

+ 10 %

Diluted EPS post-split

$                          0.86

$                          0.78

+ 10 %

Non-GAAP

September 2024

June 2024

Change Q/Q

Revenue

$                4,167,976

$                3,871,507

+ 8 %

Gross margin as percentage of revenue

48.2 %

48.5 %

– 30 bps

Operating income as percentage of revenue

30.9 %

30.7 %

+ 20 bps

Diluted EPS pre-split

$                          8.60

$                          8.14

+ 6 %

Diluted EPS post-split

$                          0.86

$                          0.81

+ 6 %

U.S. GAAP Financial Results

For the September 2024 quarter, revenue was $4,168 million, gross margin was $2,003 million, or 48.0% of revenue, operating expenses were $738 million, operating income was 30.3% of revenue, and net income was $1,116 million, or $0.86 per diluted share on a U.S. GAAP basis. This compares to revenue of $3,872 million, gross margin of $1,840 million, or 47.5% of revenue, operating expenses of $714 million, operating income of 29.1% of revenue, and net income of $1,020 million, or $0.78 per diluted share, for the quarter ended June 30, 2024 (the “June 2024 quarter”).

Non-GAAP Financial Results

For the September 2024 quarter, non-GAAP gross margin was $2,009 million, or 48.2% of revenue, non-GAAP operating expenses were $722 million, non-GAAP operating income was 30.9% of revenue, and non-GAAP net income was $1,122 million, or $0.86 per diluted share. This compares to non-GAAP gross margin of $1,876 million, or 48.5% of revenue, non-GAAP operating expenses of $689 million, non-GAAP operating income of 30.7% of revenue, and non-GAAP net income of $1,067 million, or $0.81 per diluted share, for the June 2024 quarter.

“With continued strong execution, Lam delivered financial performance ahead of expectations,” said Tim Archer, Lam Research’s President and Chief Executive Officer. “Looking forward, etch and deposition are fundamental to enabling the next generation of semiconductors. Our investments in key technology inflections position us well to outperform WFE growth in 2025 and beyond.”

Balance Sheet and Cash Flow Results

Cash, cash equivalents, and restricted cash balances increased to $6.1 billion at the end of the September 2024 quarter compared to $5.9 billion at the end of the June 2024 quarter. The increase was primarily the result of 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 September 2024 quarter increased to $2,047 million compared to $1,552 million as of the end of the June 2024 quarter. Lam’s deferred revenue balance does not include shipments to customers in Japan, to whom control 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 $184 million as of September 29, 2024 and $98 million as of June 30, 2024.

Revenue

The geographic distribution of revenue during the September 2024 quarter is shown in the following table:

Region

Revenue

China

37 %

Korea

18 %

Taiwan

15 %

United States

12 %

Japan

7 %

Southeast Asia

6 %

Europe

5 %

The following table presents revenue disaggregated between system and customer support-related revenue:

Three Months Ended

September 29,
2024

June 30,
2024

September 24,
2023

(In thousands)

Systems revenue

$              2,392,730

$              2,169,885

$              2,056,655

Customer support-related revenue and other

1,775,246

1,701,622

1,425,407

$              4,167,976

$              3,871,507

$              3,482,062

Systems revenue includes sales of new leading-edge equipment in deposition, etch and clean markets.

Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.

Outlook

For the quarter ended December 29, 2024, Lam is providing the following guidance: 

U.S. GAAP

Reconciling Items

Non-GAAP

Revenue

$4.30 Billion

+/-

$300 Million

$4.30 Billion

+/-

$300 Million

Gross margin as a percentage of revenue

46.9 %

+/-

1 %

$   2.8

Million

47.0 %

+/-

1 %

Operating income as a percentage of revenue

29.9 %

+/-

1 %

$   3.4

Million

30.0 %

+/-

1 %

Net income per diluted share

$0.87

+/-

$0.10

$   3.9

Million

$0.87

+/-

$0.10

Diluted share count

1.29 Billion

1.29 Billion

The information provided above is only an estimate of what the Company believes is realizable as of the date of this release and does not incorporate the potential impact of any business combinations, asset acquisitions, divestitures, restructuring, balance sheet valuation adjustments, financing arrangements, other investments, or other significant arrangements that may be completed or realized after the date of this release, except as described below. U.S. GAAP to non-GAAP reconciling items provided include only those items that are known and can be estimated as of the date of this release. Actual results will vary from this model and the variations may be material. Reconciling items included above are as follows:

Gross margin as a percentage of revenue – amortization related to intangible assets acquired through business combinations, $2.8 million.

Operating income as a percentage of revenue – amortization related to intangible assets acquired through business combinations, $3.4 million.

Net income per diluted share – amortization related to intangible assets acquired though business combinations, $3.4 million; amortization of debt discounts, $0.8 million; and associated tax benefit for non-GAAP items ($0.3 million); totaling $3.9 million.

Use of Non-GAAP Financial Results

In addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company’s non-GAAP results for both the September 2024 and June 2024 quarters exclude amortization related to intangible assets acquired through business combinations, the effects of elective deferred compensation-related assets and liabilities, amortization of note discounts, and the net income tax effect of non-GAAP items. The June 2024 non-GAAP results also exclude net restructuring charges, and transformational costs.

Management uses non-GAAP gross margin, operating expense, operating income, operating income as a percentage of revenue, net income, and net income per diluted share to evaluate the Company’s operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors’ ability to view the Company’s results from management’s perspective. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release and on the Company’s website at https://investor.lamresearch.com

Caution Regarding Forward-Looking Statements

Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our outlook and guidance for future financial results, including revenue, gross margin, operating income and net income; our operational execution; the technologies that will enable the next generation of semiconductors; the extent of our investments in product development and the relevance of those investments to key technology inflections; our competitive positioning; wafer fabrication equipment (“WFE”) spending growth; and our positioning and prospects for performance relative to WFE growth. Some factors that may affect these forward-looking statements include: trade regulations, export controls, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; business, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; supply chain cost increases and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 30, 2024. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam’s equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)

Consolidated Financial Tables Follow.

 

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data and percentages)

(unaudited) 

Three Months Ended

September 29,
2024

June 30,
2024

September 24,
2023

Revenue

$      4,167,976

$      3,871,507

$      3,482,062

Cost of goods sold

2,165,293

2,026,133

1,819,420

Restructuring charges, net – cost of goods sold

5,276

7,940

Total cost of goods sold

2,165,293

2,031,409

1,827,360

Gross margin

2,002,683

1,840,098

1,654,702

Gross margin as a percent of revenue

48.0 %

47.5 %

47.5 %

Research and development

495,358

497,829

422,629

Selling, general and administrative

243,128

216,477

207,023

Restructuring charges, net – operating expenses

(768)

2,021

Total operating expenses

738,486

713,538

631,673

Operating income

1,264,197

1,126,560

1,023,029

Operating income as a percent of revenue

30.3 %

29.1 %

29.4 %

Other income (expense), net

30,081

27,796

2,601

Income before income taxes

1,294,278

1,154,356

1,025,630

Income tax expense

(177,834)

(134,074)

(138,232)

Net income

$      1,116,444

$      1,020,282

$         887,398

Pre-split:

Net income per share:

Basic

$                8.59

$                7.81

$                6.69

Diluted

$                8.56

$                7.78

$                6.66

Number of shares used in per share calculations:

Basic

129,924

130,633

132,584

Diluted

130,407

131,112

133,166

Cash dividend declared per common share

$                2.30

$                2.00

$                2.00

Post-split:

Net income per share:

Basic

$                0.86

$                0.78

$                0.67

Diluted

$                0.86

$                0.78

$                0.67

Number of shares used in per share calculations:

Basic

1,299,236

1,306,333

1,325,840

Diluted

1,304,066

1,311,118

1,331,664

Cash dividend declared per common share

$                0.23

$                0.20

$                0.20

 

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

 

September 29,
2024

June 30,
2024

September 24,
2023

(unaudited)

(1)

(unaudited)

ASSETS

Cash and cash equivalents

$         6,067,471

$         5,847,856

$         5,126,150

Accounts receivable, net

2,937,217

2,519,250

2,810,953

Inventories

4,209,878

4,217,924

4,747,781

Prepaid expenses and other current assets

277,802

298,190

308,678

Total current assets

13,492,368

12,883,220

12,993,562

Property and equipment, net

2,214,269

2,154,518

2,110,511

Goodwill and intangible assets

1,758,344

1,765,073

1,784,000

Other assets

2,067,508

1,941,917

1,650,384

Total assets

$       19,532,489

$       18,744,728

$       18,538,457

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current portion of long-term debt and finance lease obligations

$            504,682

$            504,814

$                 3,861

Other current liabilities

4,837,986

3,833,624

4,243,316

Total current liabilities

5,342,668

4,338,438

4,247,177

Long-term debt and finance lease obligations

4,479,087

4,478,520

4,980,460

Income taxes payable

664,717

813,304

780,511

Other long-term liabilities

574,126

575,012

482,979

Total liabilities

11,060,598

10,205,274

10,491,127

Stockholders’ equity (2)

8,471,891

8,539,454

8,047,330

Total liabilities and stockholders’ equity

$       19,532,489

$       18,744,728

$       18,538,457

(1)

Derived from audited financial statements.

(2)

Common shares issued and outstanding were 1,291,958 as of September 29, 2024, 1,303,769 as of June 30, 2024, and 1,320,721 as of September 24, 2023.

 

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

Three Months Ended

September 29,
2024

June 30,
2024

September 24,
2023

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$            1,116,444

$            1,020,282

$               887,398

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

94,295

88,357

90,479

Deferred income taxes

(108,722)

(61,375)

(24,238)

Equity-based compensation expense

80,011

79,092

67,211

Other, net

(457)

(3,999)

(150)

Changes in operating assets and liabilities

386,900

(259,927)

(69,537)

Net cash provided by operating activities

1,568,471

862,430

951,163

CASH FLOWS FROM INVESTING ACTIVITIES:

Capital expenditures and intangible assets

(110,588)

(100,748)

(76,992)

Net maturities and sales of available-for-sale securities

7,275

Other, net

37

(865)

(4,966)

Net cash used for investing activities

(110,551)

(101,613)

(74,683)

CASH FLOWS FROM FINANCING ACTIVITIES:

Principal payments on debt, including finance lease obligations

(934)

(949)

(253,109)

Treasury stock purchases

(997,035)

(373,550)

(843,238)

Dividends paid

(260,985)

(261,462)

(230,332)

Reissuance of treasury stock related to employee stock purchase plan

66,885

Proceeds from issuance of common stock, net issuance costs

(43)

2,796

2,818

Other, net

(324)

(7,871)

(2,151)

Net cash used for financing activities

(1,259,321)

(574,151)

(1,326,012)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

22,682

(9,616)

(11,031)

Net change in cash, cash equivalents, and restricted cash

221,281

177,050

(460,563)

Cash, cash equivalents, and restricted cash at beginning of period (1)

5,850,803

5,673,753

5,587,372

Cash, cash equivalents, and restricted cash at end of period (1)

$            6,072,084

$            5,850,803

$            5,126,809

(1)

Restricted cash is reported within Other assets in the Condensed Consolidated Balance Sheets

 

Non-GAAP Financial Summary

(in thousands, except percentages and per share data)

(unaudited)

Three Months Ended

September 29,
2024

June 30,
2024

Revenue

$        4,167,976

$        3,871,507

Gross margin

$        2,009,022

$        1,876,345

Gross margin as percentage of revenue

48.2 %

48.5 %

Operating expenses

$           722,148

$           689,133

Operating income

$        1,286,874

$        1,187,212

Operating income as a percentage of revenue

30.9 %

30.7 %

Net income

$        1,121,507

$        1,066,890

Pre-split:

Net income per diluted share

$                 8.60

$                 8.14

Shares used in per share calculation – diluted

130,407

131,112

Post-split:

Net income per diluted share

$                 0.86

$                 0.81

Shares used in per share calculation – diluted

1,304,066

1,311,118

 

Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income

(in thousands, except per share data)

(unaudited) 

 

Three Months Ended

September 29,
2024

June 30,
2024

U.S. GAAP net income

$           1,116,444

$           1,020,282

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations – cost of goods sold

3,076

3,076

Elective deferred compensation (“EDC”) related liability valuation increase – cost of goods sold

3,263

2,488

Restructuring charges, net – cost of goods sold

5,276

Transformational costs – cost of goods sold

25,407

EDC related liability valuation increase – research and development

8,136

4,479

Transformational costs – Research and development

8,469

Amortization related to intangible assets acquired through certain business combinations – selling, general and administrative

692

770

EDC related liability valuation increase – selling, general and administrative

7,510

2,986

Transformational costs – selling, general and administrative

8,469

Restructuring charges, net – operating expenses

(768)

Amortization of note discounts – other income (expense), net

765

759

Gain on EDC related asset – other income (expense), net

(17,420)

(9,643)

Net income tax benefit on non-GAAP items

(959)

(5,160)

Non-GAAP net income

$           1,121,507

$           1,066,890

Pre-split

Non-GAAP net income per diluted share

$                    8.60

$                    8.14

U.S. GAAP net income per diluted share

$                    8.56

$                    7.78

U.S. GAAP and non-GAAP number of shares used for per diluted share calculation

130,407

131,112

Post-split

Non-GAAP net income per diluted share

$                    0.86

$                    0.81

U.S. GAAP net income per diluted share

$                    0.86

$                    0.78

U.S. GAAP and non-GAAP number of shares used for per diluted share calculation

1,304,066

1,311,118

 

Reconciliation of U.S. GAAP Gross Margin, Operating Expenses and Operating Income to Non-GAAP Gross Margin, Operating Expenses and Operating Income

(in thousands, except percentages)

(unaudited) 

Three Months Ended

September 29,
2024

June 30,
2024

U.S. GAAP gross margin

$        2,002,683

$        1,840,098

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

3,076

3,076

EDC related liability valuation increase

3,263

2,488

Restructuring charges, net

5,276

Transformational costs

25,407

Non-GAAP gross margin

$        2,009,022

$        1,876,345

U.S. GAAP gross margin as a percentage of revenue

48.0 %

47.5 %

Non-GAAP gross margin as a percentage of revenue

48.2 %

48.5 %

U.S. GAAP operating expenses

$           738,486

$           713,538

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

(692)

(770)

EDC related liability valuation increase

(15,646)

(7,465)

Restructuring charges, net

768

Transformational costs

(16,938)

Non-GAAP operating expenses

$           722,148

$           689,133

U.S. GAAP operating income

$        1,264,197

$        1,126,560

Non-GAAP operating income

$        1,286,874

$        1,187,212

U.S. GAAP operating income as percent of revenue

30.3 %

29.1 %

Non-GAAP operating income as a percent of revenue

30.9 %

30.7 %

 

Lam Research Corporation Contacts:
Ram Ganesh, Investor Relations, phone: 510-572-1615, e-mail: investor.relations@lamresearch.com 

 

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Technology

ASUS Accelerates Enterprise AI at Scale with 6th-Gen AMD EPYC Server CPUs

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 ASUS leverages 6th-gen AMD EPYC Server CPUs to deliver scalable, efficient compute for enterprise AI, cloud, virtualization and business-critical workloads

SAN FRANCISCO, July 24, 2026 /PRNewswire/ — ASUS today announced its groundbreaking new server lineup powered by the AMD EPYC™ 9006 processors, engineered to deliver unmatched performance for the most demanding intensive enterprise workloads. This advanced portfolio introduces two highly optimized series with efficiency-optimized AMD EPYC SP8 server CPU, the flagship dual-socket ASUS RS700A/720A for extreme compute density and the single-socket ASUS RS500A/520A for superior space efficiency and deployment flexibility.

Both series integrate full PCIe® 6.0, leading memory support, and high-density E3.S storage, all underpinned by proprietary ASUS innovations for superior thermal management and operational efficiency to meet and exceed the rigorous demands of enterprise AI, virtualization, storage and cloud environments.

“The new ASUS server series, powered by 6th-gen AMD EPYC server CPUs, is engineered to power every enterprise workload with flexible, scalable infrastructure,” Paul Ju, Senior Vice President of ASUS, commented, “This launch marks a significant milestone for ASUS and our clients. The new series empowers businesses with a resilient foundation to achieve unprecedented computing efficiency and accelerating AI innovation with inference.”

ASUS expands 6th-gen AMD EPYC server portfolio with dual optimized series

ASUS has introduced a new server lineup segmented into two distinct series, each precisely engineered to meet diverse enterprise demands.

The flagship RS700A/720A series (dual-socket) delivers extreme compute density, making it ideal for AI inferencing, and complex simulations. It offers exceptional bandwidth with PCIe 6.0, memory leadership via 32 DIMM slots supporting ultrafast MRDIMM, and high-density storage with up to 32 E3.S bays in a compact 2U form factor.

Complementing this is the RS500A/520A series (single-socket), a highly efficient and space-optimized solution with depth under 800mm, perfect for mainstream enterprise workloads and rack-constrained environments. Featuring full PCIe 6.0 capabilities, E3.S storage support, and modular scalability through shared components with the RS700A and RS720A series, it provides uncompromised performance in a streamlined, deployment-friendly design.

ASUS elevates the AMD EPYC platform with cutting-edge proprietary innovations

ASUS has significantly advanced the AMD EPYC 9006 platform with a series of proprietary engineering breakthroughs focused on superior reliability, thermal management, and operational efficiency.

The DC-MHS modular architecture features a zone-partitioned chassis that separates I/O, HPM, fan, and storage modules to accelerate development, reduce capital costs, and enable rapid serviceability. The patented ASUS DIMM.2 Innovation repositions M.2 storage to the cooler DIMM region, eliminating thermal throttling without extra heatsinks and unlocking greater scalability. Thermal Radar 3.0 with PID Control delivers precise real-time fan regulation via advanced algorithms, reducing energy use and maintaining peak performance under heavy enterprise-level workload.

Completing the suite is the optimized tool-less operational-velocity design, which boosts maintenance efficiency, maximizing uptime and lowering TCO and sustaining peak performance even under volatile, high-load AI/HPC workloads.

AVAILABILITY & PRICING

ASUS RS700A/720A series and RS500A/520A series servers will be available soon. Please contact your local ASUS representative for further information.

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Fractal posts 20% revenue growth and 92% net income growth in Q1 FY27

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Adjusted EBITDA Grows at 35% YoYGross Margin up 29 bps1 to 46%; Adjusted EBITDA Margin up 189 bps to 17%

NEW YORK, July 24, 2026 /PRNewswire/ — Fractal Analytics Ltd (BSE: 544700) (NSE: FRACTAL) announced its consolidated financial results for Q1 FY27, ending June 30, 2026.

In Q1 FY27, the Company reported consolidated operating revenue of INR 9,125 m, a growth of 20% year on year (YoY). Revenue growth was led by the company’s Healthcare and Life Sciences (HLS) industry, which clocked 69% growth YoY. Strong sustained growth in HLS over the last several quarters has resulted in it becoming the second largest industry in the portfolio. Banking, Financial Services and Insurance (BFSI) also performed very well, growing 36% YoY in Q1. Fractal’s largest industry, Consumer Packaged Goods and Retail (CPGR), continued to gather momentum, growing 19% YoY. On the other hand, TMT declined 22% YoY.

Fractal’s focus on deepening customer relationships continues to yield good outcomes. Its clients collectively increased their spending with the company, as reflected in the Net Revenue Retention2 of 117% in Q1. Further, its Net Promoter Score (NPS) during the period stood at 77.

The company reported improved profit margins at all levels. Gross Margin in Q1 was at 46%, while Adjusted EBITDA Margin expanded by 189 bps YoY to 17%. Net Income grew 92% YoY to INR 723 m.

Commenting on the performance, Srikanth Velamakanni, Group CEO and Executive Vice-Chairman, said:

“Enterprises are putting real transformation budgets behind AI now and we’re seeing it directly in the size of the deals coming to us. TMT was the drag on our headline growth this quarter. Excluding TMT, our business grew 35% year on year, which is a better read on the underlying demand we’re seeing.

As data sovereignty becomes a bigger priority for governments and enterprises, and as open-weight models keep improving, clients need a partner who can work across models and infrastructure. We have invested heavily in our people, our research, and our own intellectual property to be that partner.”

1 Basis points = 1/100th of 1%
2 Net Revenue Retention in our Fractal.ai segment measures how effectively we retain and expand revenue from our existing clients over a defined period and is calculated by comparing the current period’s revenue from the clients who existed at the start of the period, with their revenue in the previous period – including the effects of upsells, cross-sells and contractions

About Fractal 

Fractal Analytics Ltd (BSE: 544700) (NSE: FRACTAL) is a globally recognized pure-play enterprise AI company trusted by Fortune 500®-sized enterprises to power decision-making through AI services, solutions, and products, anchored by Cogentiq, its flagship agentic AI platform. With over 6,000 professionals across North America, EMEA, and Asia-Pacific, Fractal partners with business leaders to drive competitive differentiation for their organizations by embedding AI into critical decisions across business functions and industry verticals.

Fractal invests more than 6% of its revenue in AI R&D, supporting foundational AI research, product development, and IP creation that address both immediate client needs and long-term technological advancement. Fractal’s track record includes developing proprietary models and products such as Cogentiq Health – Vaidya.ai and Cogentiq Data Science – PiEvolve, as well as incubating and spinning out Qure.ai, a global healthcare AI leader focused on the rapid identification and management of tuberculosis, lung cancer, and stroke (or critical health conditions). Fractal’s suite of businesses consists of Asper.ai (a Revenue Growth Management product for CPG companies) and Analytics Vidhya (an Ed-tech platform).

For more information, go to www.fractal.ai.

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SOURCE Fractal Analytics Limited

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Xryma Plc : Pre-Listing Liquidity Facility and Price Discovery Process

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NICOSIA, Cyprus, July 24, 2026 /PRNewswire/ — Xryma Plc (“Xryma”)  announces its intention to reapply within the next twelve months for admission to list on Euronext Paris (“Euronext”), with such admission being subject to Euronext’s approval. Before submitting its application, Xryma intends to launch a pre-listing liquidity facility and price discovery process, comprising a private placement to institutional and qualified investors alongside a secondary market offer to Xryma existing shareholders (“shareholders”) wishing to exit prior to listing.  

The admission referred to above that is subject to the approval of Euronext may also be subject to approval by relevant regulatory authorities, and no assurance can be given that approval will be granted or as to the timing of any admission.

The pre-listing liquidity facility and price discovery process is designed to:

Enable shareholders seeking an exit to participate without the need to open an EU brokerage account,Provide a clear and orderly opportunity for existing shareholders to sell all or part of their holdings ahead of any potential admission to trading on Euronext Paris,Enable shareholders to sell all or part of their holdings at the same price at which qualified and institutional investors subscribe for shares in the Company,Establish, through a bookbuild with qualified and institutional investors, a market-validated referenced price for Xryma shares ahead of any potential admission on Euronext Paris (the “Primary Market Placement Price”),Support orderly trading upon potential admission.

Individual shareholder mailouts explaining the details of the pre-listing liquidity facility scheme with instructions and necessary documentation will be conducted during August 2026.

As the Primary Market Placement Price is to be determined by the subsequent bookbuild, shareholders will be given the opportunity to set a floor price which will result in the sale of their shares if the Primary Market Placement Price is higher.  Shareholders will receive the Primary Market Placement Price minus applicable fees.

Shareholders and Investors may be scaled back to match corresponding demand from the other party, with partial fulfilment a possibility if the Company cannot match supply to demand.

Completion of the process is subject to achieving a level of institutional and qualified investor demand that the Board considers appropriate to support an orderly market should Xryma subsequently be admitted to trading on Euronext Paris.

Participation is entirely voluntary. Shareholders who do not wish to sell will simply retain their shares. Shareholders that do not intend to participate should continue to onboard with a Euronext participating broker, or a Euroclear ESES custodian, per previous communications.

The major shareholders, SCP Select All Enterprise (Monaco) and SCP Red 5 Solutions (Monaco) will not participate in the offer and will be subject to lock up arrangements.

Mr Nikogiannis (John) Karantzis, CEO of Xryma Plc comments: “Our shareholders have told us they would value a straightforward way to realise their holdings without the time and cost of opening an EU brokerage account. This process is our response to that feedback. We are structuring the placement to be large enough to establish a credible reference price whilst limiting dilution, with demand directed first towards meeting shareholder sell interest. We look forward to updating the market on the revised timetable in due course.”

Shareholders seeking a more detailed explanation of the pre-listing liquidity facility and price discovery process, should refer to the guide available at https://www.xryma.com/investors

Important Information & Disclaimers

This press release may contain inside information within the meaning of Article 7(1) of Regulation (EU) 596/2014 (Market Abuse Regulation).

This publication is not for publication or distribution or release, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia), Canada, Australia, South Africa, Japan or any other jurisdiction where such an announcement would be unlawful. The distribution of this publication may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. No action has been taken that would permit an offering of the treasury shares or possession or distribution of this publication in any jurisdiction where action for that purpose is required.

This publication does not constitute or form part of an offer for sale or solicitation of an offer to purchase or subscribe for securities in the United States, Canada, Australia, South Africa, Japan or any other jurisdiction and the securities referred to herein have not been registered under the securities laws of any such jurisdiction. Any New Shares (if such are issued) will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or under the securities laws of any State or any other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of, the Securities Act and in compliance with all applicable securities laws of any State or any other jurisdiction of the United States. No public offering of securities is being made in the United States or in any other jurisdiction.

The information set forth herein must not be distributed in any jurisdiction where such distribution is unlawful, and any recipients are requested to inform themselves about and to observe such restrictions.

The Offering referred to herein by Xryma Plc will only be made in accordance with all applicable corporate and securities laws. Any shares referred to herein will exclusively be offered or sold in reliance on any applicable exemptions from prospectus or registration requirements in any jurisdiction. In member states of the European Economic Area, this publication is only addressed to and directed at persons who are ‘qualified investors’ within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (as amended and including any relevant delegated regulations, the “Prospectus Regulation”) or in any other circumstances falling within exemptions available in the relevant member state under Article 1(4) and/or 1(5) of the Prospectus Regulation. In the United Kingdom, this publication is only addressed to and directed at qualified investors within the meaning of the Prospectus Regulation, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended (“EUWA”), who are persons (i) who have professional experience in matters relating to investments falling within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”), (ii) falling within article 49(2)(a) to (d) (high net worth companies, incorporated associations, etc.) of the Order, or (iii) to whom it may otherwise be lawfully communicated; any other persons in the United Kingdom should not take any action on the basis of this publication and should not act on or rely on it.

This publication does not constitute a recommendation concerning the prospective Offering. This announcement does not constitute an Offer or invitation to subscribe.

This announcement includes statements that are, or may be deemed to be, ‘forward looking statements’. These forward-looking statements can be identified by the use of forward looking terminology, including the terms ‘believes’, ‘estimates’, ‘anticipates’, ‘expects’, ‘intends’, ‘may’, ‘will’, or ‘should’ or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. By their nature, forward looking statements involve risk and uncertainty because they relate to future events and circumstances which may or may not occur. Many of these factors are beyond the control of the Company. Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results and circumstances may vary materially from those described in this announcement as anticipated, believed, estimated or expected.

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