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Daqo New Energy Announces Unaudited First Quarter 2025 Results

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SHANGHAI, April 29, 2025 /PRNewswire/ — Daqo New Energy Corp. (NYSE: DQ) (“Daqo New Energy,” the “Company” or “we”), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced its unaudited financial results for the first quarter of 2025.

First Quarter 2025 Financial and Operating Highlights

Total cash, short-term investments, bank notes receivable and fixed term bank deposit balance was $2.15 billion at the end of Q1 2025, compared to $2.22 billion at the end of Q4 2024Polysilicon production volume was 24,810 MT in Q1 2025, compared to 34,236 MT in Q4 2024Polysilicon sales volume was 28,008 MT in Q1 2025 compared to 42,191 MT in Q4 2024Polysilicon average total production cost(1) was $7.57/kg in Q1 2025 compared to $6.81/kg in Q4 2024Polysilicon average cash cost(1) was $5.31/kg in Q1 2025, compared to $5.04/kg in Q4 2024Polysilicon average selling price (ASP) was $4.37/kg in Q1 2025, compared to $4.62/kg in Q4 2024Revenue was $123.9 million in Q1 2025, compared to $195.4 million in Q4 2024Gross loss was $81.5 million in Q1 2025, compared to $65.3 million in Q4 2024. Gross margin was -65.8% in Q1 2025, compared to -33.4% in Q4 2024Net loss attributable to Daqo New Energy Corp. shareholders was $71.8 million in Q1 2025, compared to $180.2 million in Q4 2024Loss per basic American Depositary Share (ADS)(3) was $1.07 in Q1 2025, compared to $2.71 in Q4 2024Adjusted net loss (non-GAAP)(2) attributable to Daqo New Energy Corp. shareholders was $53.2 million in Q1 2025, compared to $170.6 million in Q4 2024Adjusted loss per basic ADS(3) (non-GAAP)(2) was $0.80 in Q1 2025, compared to $2.56 in Q4 2024EBITDA (non-GAAP)(2) was –$48.4 million in Q1 2025, compared to –$236.5 million in Q4 2024. EBITDA margin (non-GAAP)(2) was -39.1% in Q1 2025, compared to -121.1% in Q4 2024

 

Three months ended

US$ millions

except as indicated otherwise

March
31, 2025

December
31, 2024

March
31, 2024

Revenues

123.9

195.4

415.3

Gross (loss)/profit

(81.5)

(65.3)

72.1

Gross margin

(65.8) %

(33.4) %

17.4 %

(Loss)/income from operations

(114.1)

(300.9)

30.5

Net (loss)/income attributable to Daqo New Energy
Corp. shareholders

(71.8)

(180.2)

15.5

(Loss)/Earnings per basic ADS(3) ($ per ADS)

(1.07)

(2.71)

0.24

Adjusted net (loss)/income (non-GAAP)(2)
attributable to Daqo New Energy Corp. shareholders

(53.2)

(170.6)

36.0

Adjusted (loss)/earnings per basic ADS(3)
(non-GAAP)(2) ($ per ADS) 

(0.80)

(2.56)

0.55

EBITDA (non-GAAP)(2)

(48.4)

(236.5)

76.9

EBITDA margin (non-GAAP)(2)

(39.1) %

(121.1) %

18.5 %

Polysilicon sales volume (MT) 

28,008

42,191

53,987

Polysilicon average total production cost ($/kg)(1)

7.57

6.81

6.37

Polysilicon average cash cost (excl. dep’n) ($/kg)(1)

5.31

5.04

5.61

 

Notes:

(1) Production cost and cash cost only refer to production in our polysilicon facilities. Production cost is calculated by the inventoriable costs relating to production of polysilicon divided by the production volume in the period indicated. Cash cost is calculated by the inventoriable costs relating to production of polysilicon excluding depreciation cost and non-cash share-based compensation cost, divided by the production volume in the period indicated.

(2) Daqo New Energy provides EBITDA, EBITDA margins, adjusted net income attributable to Daqo New Energy Corp. shareholders and adjusted earnings per basic ADS on a non-GAAP basis to provide supplemental information regarding its financial performance. For more information on these non-GAAP financial measures, please see the section captioned “Use of Non-GAAP Financial Measures” and the tables captioned “Reconciliation of non-GAAP financial measures to comparable US GAAP measures” set forth at the end of this press release.

(3) ADS means American Depositary Share. One (1) ADS represents five (5) ordinary shares.

Management Remarks

Mr. Xiang Xu, CEO of Daqo New Energy, commented, “In the first quarter of 2025, the solar PV industry continued to face significant challenges. Overcapacity persisted, and polysilicon prices stayed below cash cost levels. Although this caused Daqo New Energy to sustain quarterly operating and net losses, our losses narrowed sequentially and we continued to maintain a strong and healthy balance sheet with no financial debt. As of March 31, 2025, the Company had a cash balance of $792 million, short-term investments of $168 million, bank notes receivables of $63 million, and a fixed term bank deposit balance of $1.1 billion. In total, our quick assets, readily convertible into cash if needed, stood at $2.15 billion, providing us with ample liquidity. With no financial debt, our solid financial position gives us the confidence that we will remain strategically resilient and well positioned to overcome the current market downturn.”

“On the operational front, the Company operated at a reduced utilization rate of approximately 33% of our nameplate capacity in response to challenging market conditions and weak selling prices. Total production volume at our two polysilicon facilities for the quarter was 24,810 MT, slightly below our guidance range of 25,000 MT to 28,000 MT. However, sales volume reached 28,008 MT, exceeding production and enabling us to reduce inventory to a healthier level. As a result of lower utilization across our factories, idle-facility related cost for the quarter was approximately $1.58/kg, which was primarily related to non-cash depreciation expenses. Overall, polysilicon unit production cost increased by 11% sequentially to an average of $7.57/kg, primarily due to higher unit depreciation costs as a result of lower production. Our cash cost increased by 5% to $5.31/kg quarter-over-quarter, primarily due to maintenance and facilities related costs during the quarter.”

“In light of the current market conditions, we expect our total polysilicon production volume in the second quarter of 2025 to be approximately 25,000 MT to 28,000 MT. As a result, we anticipate our full year 2025 production volume to be in the range of 110,000 MT to 140,000 MT.”

“During the first quarter, polysilicon producers implemented self-discipline measures to mitigate the impact of irrational competition amid falling prices, resulting in an industry-wide capacity utilization of approximately 50%. According to industry data, domestic polysilicon production volume came in at 105,500 MT in March and below 100,000 MT for both January and February. Consequently, supply in the first quarter fell short of demand, gradually reducing industry inventory levels. On February 9, Chinese authorities introduced a market-based reform policy for new energy on-grid tariffs to promote the high-quality development of the renewable energy sector. All on-grid electricity generated from renewable energy, such as wind and solar power, will be traded through market mechanisms with prices determined by supply and demand. This policy aims to balance grid load more effectively. As mandated in the policy, the cutoff date that distinguishes “new” projects from “existing” projects is May 31, 2025, and new energy projects that commence operations on and after June 1, 2025 will be subject to a provincial-level competitive bidding process. As the fixed-tariff structure for renewable energy electricity transitions to a market-based pricing mechanism, uncertainties around future electricity prices and revenue generation have emerged. In response, project developers and investors are accelerating project completions ahead of the June 1, 2025 deadline in order to secure current policy benefits, which has led to a surge in downstream installations. Fueled by this front-loading, market prices of solar products have trended upward, narrowing losses across the value chain, particularly for end-products. However, given the relatively high level of polysilicon inventory held by wafer manufacturers, price increases have yet to fully materialize in the polysilicon segment. Polysilicon prices remained stable throughout the quarter at approximately RMB 37-42/kg. In the medium to long-term, however, we believe current low prices and market downturn will eventually result in a healthier and more sustainable industry. As ongoing losses, poor profitability, and cash burn force less competitive players to exit the market, we expect overcapacity to be ultimately eliminated, bringing the solar PV industry back to normal improved profitability and healthier margins.”

“The solar PV industry continued to show promising prospects. China’s new solar PV installations reached 59.71GW in the first quarter, a robust 30.5% year-over-year growth. In the long run, as one of the most cost-effective and sustainable energy sources worldwide, solar power is expected to remain a key driver of the global energy transition and sustainable development. Looking ahead, Daqo New Energy is well positioned to capitalize on the long-term growth in the global solar PV market and strengthen its competitive edge by enhancing its higher-efficiency N-type technology and optimizing its cost structure through digital transformation and AI adoption. As one of the world’s lowest-cost producers with the highest-quality N-type product, a strong balance sheet and no financial debt, we are confident in our ability to weather the current market downturn and emerge as a leader in the industry ready to capture future growth.”

Outlook and guidance

The Company expects to produce approximately 25,000 MT to 28,000 MT of polysilicon during the second quarter of 2025. The Company expects to produce approximately 110,000 MT to 140,000 MT of polysilicon for the full year of 2025, inclusive of the impact of the Company’s annual facility maintenance.

This outlook reflects Daqo New Energy’s current and preliminary view as of the date of this press release and may be subject to changes. The Company’s ability to achieve these projections is subject to risks and uncertainties. See “Safe Harbor Statement” at the end of this press release.

First Quarter 2025 Results

Revenues

Revenues were $123.9 million, compared to $195.4 million in the fourth quarter of 2024 and $415.3 million in the first quarter of 2024. The decrease in revenues compared to the fourth quarter of 2024 was primarily due to a decrease in the sales volume.

Gross (loss)/ profit and margin

Gross loss was $81.5 million, compared to $65.3 million in the fourth quarter of 2024 and gross profit of $72.1 million in the first quarter of 2024. Gross margin was -65.8%, compared to -33.4% in the fourth quarter of 2024 and 17.4% in the first quarter of 2024. The decrease in gross margin compared to the fourth quarter of 2024 was primarily due to lower ASP and higher production cost.

Selling, general and administrative expenses

Selling, general and administrative expenses were $35.1 million, compared to $29.4 million in the fourth quarter of 2024 and $38.4 million in the first quarter of 2024. SG&A expenses during the first quarter included $18.6 million in non-cash share-based compensation cost related to the Company’s share incentive plans, compared to $14.9 million in the fourth quarter of 2024.

Research and development expenses

Research and development (R&D) expenses were $0.5 million, compared to $0.4 million in the fourth quarter of 2024 and $1.5 million in the first quarter of 2024. Research and development expenses can vary from period to period and reflect R&D activities that take place during the quarter.

(Loss)/income from operations and operating margin

As a result of the foregoing, loss from operations was $114.1 million, compared to $300.9 million in the fourth quarter of 2024 and income from operation of $30.5 million in the first quarter of 2024. The decrease of loss from operations in the first quarter 2025 from the fourth quarter of 2024 was also attributable to the long-lived assets impairment of $175.6 million assets and allowance for expected credit loss of $18.1 million recorded in the fourth quarter of 2024.

Operating margin was -92.0%, compared to -154.0% in the fourth quarter of 2024 and 7.3% in the first quarter of 2024.

Net (loss)/income attributable to Daqo New Energy Corp. shareholders and earnings/(loss) per ADS

As a result of the aforementioned, net loss attributable to Daqo New Energy Corp. shareholders was $71.8 million, compared to $180.2 million in the fourth quarter of 2024 and net income of $15.5 million in the first quarter of 2024.

Loss per basic American Depository Share (ADS) was $1.07, compared to $2.71 in the fourth quarter of 2024, and earnings per basic ADS $0.24 in the first quarter of 2024.

Adjusted net (loss)/income (non-GAAP) attributable to Daqo New Energy Corp. shareholders and adjusted (loss)/earnings per ADS(non-GAAP)

As a result of the aforementioned, adjusted net loss (non-GAAP) attributable to Daqo New Energy Corp. shareholders, excluding non-cash share-based compensation costs, was $53.2 million, compared to $170.6 million in the fourth quarter of 2024 and adjusted net income of $36.0 million in the first quarter of 2024.

Adjusted loss per basic American Depository Share (ADS) was $0.80, compared to $2.56 in the fourth quarter of 2024, and adjusted earnings per basic ADS of $0.55 in the first quarter of 2024.

EBITDA

EBITDA (non-GAAP) was –$48.4 million, compared to –$236.5 million in the fourth quarter of 2024 and $76.9 million in the first quarter of 2024. EBITDA margin (non-GAAP) was -39.1%, compared to -121.1% in the fourth quarter of 2024 and 18.5% in the first quarter of 2024.

Financial Condition

As of March 31, 2025, the Company had $791.9 million in cash, cash equivalents and restricted cash, compared to $1,038.3 million as of December 31, 2024 and $2,689.3 million as of March 31, 2024. As of March 31, 2025, the notes receivable balance was $62.7 million, compared to $55.2 million as of December 31, 2024 and $194.1 million as of March 31, 2024. Notes receivable represents bank notes with maturity within six months. As of March 31, 2025, the balance of fixed term deposits within one year was $1,125.3 million, compared to $1,087.2 million as of December 31, 2024 and nil as of March 31, 2024.

Cash Flows

For the three months ended March 31, 2025, net cash used in operating activities was $38.9 million, compared to $115.9 million in the same period of 2024.

For the three months ended March 31, 2025, net cash used in investing activities was $211.0 million, compared to $190.5 million in the same period of 2024. The net cash used in investing activities in the first quarter of 2025 was primarily related to purchase of short-term investments and fixed term deposits.

For the three months ended March 31, 2025, net cash used in financing activities was nil, compared to $6.0 million in the same period of 2024.

Use of Non-GAAP Financial Measures

To supplement Daqo New Energy’s consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles (“US GAAP”), the Company uses certain non-GAAP financial measures that are adjusted for certain items from the most directly comparable GAAP measures including earnings before interest, taxes, depreciation and amortization (“EBITDA”) and EBITDA margin; adjusted net income attributable to Daqo New Energy Corp. shareholders and adjusted earnings per basic and diluted ADS. Our management believes that each of these non-GAAP measures is useful to investors, enabling them to better assess changes in key element of the Company’s results of operations across different reporting periods on a consistent basis, independent of certain items as described below. Thus, our management believes that, used in conjunction with US GAAP financial measures, these non-GAAP financial measures provide investors with meaningful supplemental information to assess the Company’s operating results in a manner that is focused on its ongoing, core operating performance. Our management uses these non-GAAP measures internally to assess the business, its financial performance, current and historical results, as well as for strategic decision-making and forecasting future results. Given our management’s use of these non-GAAP measures, the Company believes these measures are important to investors in understanding the Company’s operating results as seen through the eyes of our management. These non-GAAP measures are not prepared in accordance with US GAAP or intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with US GAAP; the non-GAAP measures should be reviewed together with the US GAAP measures, and may be different from non-GAAP measures used by other companies.

The Company uses EBITDA, which represents earnings before interest, taxes, depreciation and amortization, and EBITDA margin, which represents the proportion of EBITDA in revenues. Adjusted net income attributable to Daqo New Energy Corp. shareholders and adjusted earnings per basic and diluted ADS exclude costs related to share-based compensation. Share-based compensation is a non-cash expense that varies from period to period. As a result, our management excludes this item from our internal operating forecasts and models. Our management believes that this adjustment for share-based compensation provides investors with a basis to measure the Company’s core performance, including compared with the performance of other companies, without the period-to-period variability created by share-based compensation.

A reconciliation of non-GAAP financial measures to comparable US GAAP measures is presented later in this document.

Conference Call

The Company has scheduled a conference call to discuss the results at 8:00 AM U.S. Eastern Time on Tuesday, April 29, 2025 (8:00 PM Beijing / Hong Kong time on the same day).

The dial-in details for the earnings conference call are as follows:

Participant dial in (U.S. toll free): +1-888-346-8982
Participant international dial in: +1-412-902-4272
China mainland toll free: 4001-201203
Hong Kong toll free: 800-905945
Hong Kong local toll: +852-301-84992

Please dial in 10 minutes before the call is scheduled to begin and ask to join the Daqo New Energy Corp. call.

Webcast link:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=TJ7Upakg

A replay of the call will be available 1 hour after the conclusion of the conference call through May 6, 2025. The dial in details for the conference call replay are as follows:

U.S. toll free: +1-877-344-7529
International toll: +1-412-317-0088
Canada toll free: 855-669-9658
Replay access code: 9537649

To access the replay through an international dial-in number, please select the link below.
https://services.choruscall.com/ccforms/replay.html

Participants will be asked to provide their name and company name upon entering the call.

About Daqo New Energy Corp.

Daqo New Energy Corp. (NYSE: DQ) (“Daqo” or the “Company”) is a leading manufacturer of high-purity polysilicon for the global solar PV industry. Founded in 2007, the Company manufactures and sells high-purity polysilicon to photovoltaic product manufacturers, who further process the polysilicon into ingots, wafers, cells and modules for solar power solutions. The Company has a total polysilicon nameplate capacity of 305,000 metric tons and is one of the world’s lowest cost producers of high-purity polysilicon.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “guidance” and similar statements. Among other things, the outlook for the second quarter and the full year of 2025 and quotations from management in these announcements, as well as Daqo New Energy’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the demand for photovoltaic products and the development of photovoltaic technologies; global supply and demand for polysilicon; alternative technologies in cell manufacturing; the Company’s ability to significantly expand its polysilicon production capacity and output; the reduction in or elimination of government subsidies and economic incentives for solar energy applications; the Company’s ability to lower its production costs; and changes in political and regulatory environment. Further information regarding these and other risks is included in the reports or documents the Company has filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date hereof, and the Company undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.

Daqo New Energy Corp.

Unaudited Condensed Consolidated Statement of Operations

(US dollars in thousands, except ADS and per ADS data)

Three months Ended

Mar. 31,
2025

Dec. 31,
2024

Mar. 31,
2024

Revenues    

123,914

195,359

415,311

Cost of revenues

(205,449)

(260,622)

(343,226)

Gross (loss)/profit

(81,535)

(65,263)

72,085

Operating expenses

–

Selling, general and administrative expenses

(35,085)

(29,402)

(38,433)

Long-lived assets impairment

–

(175,627)

–

Allowance for expected credit loss

–

(18,072)

–

Research and development expenses

(507)

(372)

(1,538)

Other operating income/(expense)

3,074

(12,203)

(1,605)

Total operating expenses

(32,518)

(235,676)

(41,576)

(Loss)/income from operations

(114,053)

(300,939)

30,509

Interest income, net

2,670

6,761

12,270

Foreign exchange gain/(loss)

22

49

(269)

Investments income

6,354

3,644

–

(Loss)/Income before income taxes

(105,007)

(290,485)

42,510

Income tax benefit/(expense)

12,274

48,973

(14,356)

Net (loss)/income

(92,733)

(241,512)

28,154

Net (loss)/income attributable to non-controlling interest

(20,896)

(61,330)

12,681

Net (loss)/income attributable to Daqo New Energy Corp.
  shareholders

(71,837)

(180,182)

15,473

(Loss)/earnings per ADS

 Basic

(1.07)

(2.71)

0.24

 Diluted

(1.07)

(2.71)

0.24

Weighted average ADS outstanding

Basic

66,938,183

66,609,799

65,704,356

Diluted

66,938,183

66,609,799

65,720,945

 

 

Daqo New Energy Corp.

Unaudited Condensed Consolidated Balance Sheets

(US dollars in thousands)

Mar. 31, 2025

Dec. 31, 2024

Mar. 31, 2024

ASSETS:

Current Assets:

Cash, cash equivalents and restricted cash

791,930

1,038,349

2,689,310

Short-term investments

168,203

9,619

–

Accounts and notes receivable

62,818

55,171

194,088

Inventories

125,918

149,939

191,161

Fixed term deposit within one year

1,125,323

1,087,210

–

Other current assets

303,156

291,259

229,893

Total current assets

2,577,348

2,631,547

3,304,452

Property, plant and equipment, net

3,460,203

3,499,210

3,731,647

Prepaid land use right

152,854

152,869

157,046

Fixed term deposit over one year

–

27,636

–

Other non-current assets

120,281

106,981

54,688

TOTAL ASSETS

6,310,686

6,418,243

7,247,833

Current liabilities:

Accounts payable and notes payable

28,694

33,270

67,329

Advances from customers – short term portion

33,032

37,192

128,697

Payables for purchases of property, plant and

equipment

357,562

406,743

409,689

Other current liabilities

39,471

44,032

114,227

Total current liabilities

458,759

521,237

719,942

Advance from customers – long term portion

20,967

21,484

113,600

Other non-current liabilities

17,610

17,658

28,329

TOTAL LIABILITIES

497,336

560,379

861,871

 

EQUITY:

Total Daqo New Energy Corp.’s shareholders’
  equity

4,329,201

4,361,193

4,716,390

Non-controlling interest

1,484,149

1,496,671

1,669,572

Total equity

5,813,350

5,857,864

6,385,962

TOTAL LIABILITIES & EQUITY

6,310,686

6,418,243

7,247,833

 

 

Daqo New Energy Corp.

Unaudited Condensed Consolidated Statements of Cash Flows

(US dollars in thousands)

For the three months ended March 31,

2025

2024

Operating Activities:

Net (loss)/income

(92,733)

28,154

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

123,788

75,364

Changes in operating assets and liabilities

(69,936)

(219,450)

Net cash (used in) / provided by operating activities

(38,881)

(115,932)

Investing activities:

Purchases of property, plant and equipment

(57,632)

(180,369)

Purchases of land use right

–

(10,115)

Purchase of short-term investments and fixed term deposits

(1,014,899)

–

Redemption of short-term investments and fixed term deposits

861,517

–

Net cash used in investing activities

(211,014)

(190,484)

Financing activities:

Net cash (used in) / provided by financing activities

–

(6,004)

Effect of exchange rate changes

3,476

(46,226)

Net (decrease) / increase in cash, cash equivalents and restricted cash

(246,419)

(358,646)

Cash, cash equivalents and restricted cash at the beginning of the
period

1,038,349

3,047,956

Cash, cash equivalents and restricted cash at the end of the period

791,930

2,689,310

 

 

Daqo New Energy Corp.

Reconciliation of non-GAAP financial measures to comparable US GAAP measures

(US dollars in thousands)

Three months Ended

Mar. 31, 2025

Dec. 31, 2024

Mar. 31, 2024

Net (loss)/income

(92,733)

(241,512)

28,154

Income tax expense (benefit)

(12,274)

(48,973)

14,356

Interest income, net

(2,670)

(6,761)

(12,269)

Depreciation & amortization

59,245

60,740

46,669

EBITDA (non-GAAP)

(48,432)

(236,506)

76,910

EBIDTA margin (non-GAAP)

-39.1 %

-121.1 %

18.5 %

Three months Ended

Mar. 31, 2025

Dec. 31, 2024

Mar. 31, 2024

Net (loss)/income attributable to Daqo New
   Energy Corp. shareholders

(71,837)

(180,182)

15,473

Share-based compensation

18,606

9,532

20,574

Adjusted net (loss)/income attributable to
   Daqo New Energy Corp. shareholders
   (non-GAAP)

(53,231)

(170,650)

36,047

Adjusted (loss)/earnings per basic ADS
   (non-GAAP)

(0.80)

(2.56)

0.55

Adjusted (loss)/earnings per diluted ADS
   (non-GAAP)

(0.80)

(2.56)

0.55

 

 

View original content:https://www.prnewswire.com/news-releases/daqo-new-energy-announces-unaudited-first-quarter-2025-results-302441163.html

SOURCE Daqo New Energy Corp.

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Improve Cell Line Stability From Cloning to GMP Manufacturing, Upcoming Webinar Hosted by Xtalks

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In this free webinar, learn how early cell-development decisions can affect cell line stability from cloning through GMP manufacturing. The featured speakers will discuss culture conditions, clone selection, cellular stress, recloning and genetic integrity monitoring, using iPSC development as a key application. Attendees will also explore how image-verified cloning and stronger upstream workflows can support reproducibility, scalable manufacturing and GMP-ready cell banks.

TORONTO, Oct. 21, 2026 /PRNewswire/ — Maintaining cell line stability becomes increasingly important as programs move from early clone development toward scale-up, cell banking and GMP manufacturing. Variability introduced during cloning, culture and expansion can affect genetic integrity, reproducibility and confidence in the cells being carried forward. Using iPSC development as a key application, this webinar will explore how early workflow decisions can help identify and reduce these risks before they impact downstream manufacturing.

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The session will connect early cell-development decisions with broader goals including reproducibility, scalability, genetic integrity, manufacturing readiness and the development of well-characterized GMP-ready cell banks, giving practical considerations for building more reliable workflows.

Attendees will gain insight into how to recognize sources of clonal variability, strengthen clone-selection strategies, maintain confidence in genetic stability and reduce the risk of carrying early development problems into later stages.

Register for this webinar to learn how cell line stability can be strengthened through clone selection, genetic integrity monitoring and cell-development strategies that support scalable manufacturing.

Join Noud Drummen, Field Application Scientist, Nova Biomedical; and Silvia Rosati, Research Scientist, Process Development Lab, Evotec (Modena), for the live webinar on Thursday, October 29, 2026, at 11am EDT (4pm CET / EU-Central).

For more information, or to register for this event, visit Improve Cell Line Stability From Cloning to GMP Manufacturing.

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Every year, thousands of professionals rely on Xtalks for timely intelligence, peer perspectives and industry thought leadership. Join our life science community to stay informed, connected and ready for what’s next.

To learn more about Xtalks, visit www.xtalks.com
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Email: skumar@xtalks.com

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Lam Research Corporation Reports Financial Results for the Quarter Ended September 27, 2026

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FREMONT, Calif., Oct. 21, 2026 /PRNewswire/ — Lam Research Corporation (the “Company,” “Lam,” “Lam Research”) today announced financial results for the quarter ended September 27, 2026 (the “September 2026 quarter”).

Highlights for the September 2026 quarter were as follows:

Revenue of $8.22 billion.U.S. GAAP gross margin as a percent of revenue of 52.3%, U.S. GAAP operating margin as a percent of revenue of 40.0%, and U.S. GAAP diluted EPS of $2.19.Non-GAAP gross margin as a percent of revenue of 52.4%, non-GAAP operating margin as a percent of revenue of 40.2%, and non-GAAP diluted EPS of $2.20.

Key Financial Data for the Quarters Ended

September 27, 2026 and June 28, 2026

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

 

 

U.S. GAAP

September 2026

June 2026

Change Q/Q

Revenue

$       8,219,418

$       6,722,238

+22 %

Gross margin

52.3 %

51.7 %

+ 60 bps

Operating margin

40.0 %

37.4 %

+ 260 bps

Diluted EPS

$                2.19

$                1.81

+ 21 %

Non-GAAP

September 2026

June 2026

Change Q/Q

Revenue

$       8,219,418

$       6,722,238

+22 %

Gross margin

52.4 %

52.0 %

+ 40 bps

Operating margin

40.2 %

38.4 %

+ 180 bps

Diluted EPS

$                2.20

$                1.82

+ 21 %

U.S. GAAP Financial Results

For the September 2026 quarter, revenue was $8.22 billion, gross margin was $4.30 billion, or 52.3% of revenue, operating expenses were $1.02 billion, operating margin was 40.0%, and net income was $2.75 billion, or $2.19 per diluted share on a U.S. GAAP basis. This compares to revenue of $6.72 billion, gross margin of $3.48 billion, or 51.7% of revenue, operating expenses of $965.3 million, operating margin of 37.4%, and net income of $2.28 billion, or $1.81 per diluted share, for the quarter ended June 28, 2026 (the “June 2026 quarter”).

Non-GAAP Financial Results

For the September 2026 quarter, non-GAAP gross margin was $4.31 billion, or 52.4% of revenue, non-GAAP operating expenses were $1.00 billion, non-GAAP operating margin was 40.2%, and non-GAAP net income was $2.77 billion, or $2.20 per diluted share. This compares to non-GAAP gross margin of $3.50 billion, or 52.0% of revenue, non-GAAP operating expenses of $916.4 million, non-GAAP operating margin of 38.4%, and non-GAAP net income of $2.28 billion, or $1.82 per diluted share, for the June 2026 quarter.

“With AI driving higher semiconductor demand and greater device complexity, our focus on operational execution helped Lam deliver record revenue, profit, and earnings per share in the September quarter,” said Tim Archer, Lam Research’s President and Chief Executive Officer. “Our strategic investments in technology inflections and manufacturing capacity are paying off, strengthening our ability to outgrow the wafer fabrication equipment market as the industry expands.”

Balance Sheet and Cash Flow Results

Cash, cash equivalents, and restricted cash balances increased to $7.45 billion at the end of the September 2026 quarter compared to $5.60 billion at the end of the June 2026 quarter. The increase was primarily the result of cash generated from operating activities during the quarter partially offset by cash deployed for capital return activities and capital expenditures.

Deferred revenue at the end of the September 2026 quarter increased to $2.66 billion compared to $2.43 billion as of the end of the June 2026 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 $468.3 million as of September 27, 2026 and $490.2 million as of June 28, 2026.

Revenue

The geographic distribution of revenue during the September 2026 quarter is shown in the following table:

Region

Revenue

China

35 %

Korea

20 %

Taiwan

18 %

Japan

9 %

United States

8 %

Southeast Asia

6 %

Europe

4 %

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

Three Months Ended

September 27,
2026

June 28,
2026

September 28,
2025

(in thousands)

Systems revenue

$         5,732,907

$         4,249,848

$         3,547,565

Customer support-related revenue and other

2,486,511

2,472,390

1,776,608

$         8,219,418

$         6,722,238

$         5,324,173

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

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

Outlook

For the quarter ending December 27, 2026, Lam is providing the following guidance: 

U.S. GAAP

Reconciling Items

Non-GAAP

Revenue

$8.60 Billion

+/-

$400 Million

—

$8.60 Billion

+/-

$400 Million

Gross margin

52.5 %

+/-

1 %

$  2.7

Million

52.5 %

+/-

1 %

Operating margin

40.5 %

+/-

1 %

$  3.0

Million

40.5 %

+/-

1 %

Net income per diluted share

$2.33

+/-

$0.15

$  3.3

Million

$2.33

+/-

$0.15

Diluted share count

1.253 Billion

—

1.253 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 items 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 – amortization related to intangible assets acquired through certain business combinations, $2.7 million.Operating margin – amortization related to intangible assets acquired through certain business combinations, $3.0 million.Net income per diluted share – amortization related to intangible assets acquired through certain business combinations, $3.0 million; amortization of note discounts, $0.5 million; and associated tax benefit for non-GAAP items ($0.2 million); totaling $3.3 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 2026 and June 2026 quarters exclude amortization related to intangible assets acquired through certain 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 September 2026 quarter also excludes the net income tax effect of a change in tax law, and the June 2026 quarter excludes workforce optimization charges and the related income tax effect.

Management uses non-GAAP gross margin, operating expense, operating income, operating margin, 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 include, but are not limited to, statements concerning: our outlook and guidance for future financial results, including revenue, gross margin, operating margin, net income per diluted share, and diluted share count; AI-driven semiconductor demand and device complexity; our focus on operational execution; the perceived benefits of our strategic investments; our ability to outgrow the wafer fabrication equipment market as the industry expands; and deferred revenue. These statements are not a guarantee of future performance and involve a number of risks, uncertainties, and other factors that could cause our actual results or outcomes, or the timing of our results or outcomes, to differ materially from those expressed or implied in this press release. Such risks, uncertainties, and other factors include: our assumptions related to continued expansion of the wafer fabrication equipment market, growth of deposition and etch intensity, and scaling of our operations may prove invalid; business, economic, political, and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy, including wafer fabrication equipment spending or demand related to AI, may deteriorate or change; the actions, performance, or investment levels of our customers and competitors may be inconsistent with our expectations; customer and product mix, including across market segments and geographical regions, may change; we may be unable to realize the value of our products and technology, successfully commercialize new products and technologies, implement pricing initiatives, or execute on perceived opportunities; we may be unable to achieve anticipated operational, manufacturing, supply chain, procurement, and scale efficiencies; customer technology transitions, capacity expansions, and fab construction projects may have different timing or be less successful than we expect; we may be unable to manage operating expenses effectively while continuing to invest in research and development, product innovation, customer support, and future growth opportunities; trade regulations, export controls (including entity listings, end use/user controls, technology controls, and foreign direct product rules), tariffs, trade disputes, and other geopolitical developments may inhibit our ability to sell our products or services; supply chain cost increases, tariffs, and other inflationary pressures may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; 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 most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. You should evaluate all forward-looking statements made in this press release in the context of these risks, uncertainties, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based on our current beliefs, expectations, and assumptions about future events. Except as required by law, we undertake no obligation to update the information or statements made in this press 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)

Condensed 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 27,
2026

June 28,
2026

September 28,
2025

Revenue

$ 8,219,418

$ 6,722,238

$ 5,324,173

Cost of goods sold

3,920,565

3,243,498

2,639,294

Gross margin

4,298,853

3,478,740

2,684,879

Gross margin as a percent of revenue

52.3 %

51.7 %

50.4 %

Research and development

666,398

642,922

576,446

Selling, general and administrative

348,728

322,330

279,345

Total operating expenses

1,015,126

965,252

855,791

Operating income

3,283,727

2,513,488

1,829,088

Operating margin

40.0 %

37.4 %

34.4 %

Other income (expense), net

28,493

41,654

30,074

Income before income taxes

3,312,220

2,555,142

1,859,162

Income tax expense

(559,082)

(277,860)

(290,502)

Net income

$ 2,753,138

$ 2,277,282

$ 1,568,660

Net income per share:

Basic

$        2.20

$        1.82

$        1.24

Diluted

$        2.19

$        1.81

$        1.24

Number of shares used in per share calculations:

Basic

1,250,883

1,251,286

1,264,446

Diluted

1,255,768

1,256,032

1,269,313

Cash dividend declared per common share

$        0.33

$        0.26

$        0.26

 

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

 

September 27,
2026

June 28,
2026

September 28,
2025

(unaudited)

(1)

(unaudited)

ASSETS

Cash and cash equivalents

$      7,437,384

$      5,579,171

$      6,693,046

Accounts receivable, net

5,658,379

5,339,682

3,633,034

Inventories

4,550,544

4,276,111

4,095,054

Prepaid expenses and other current assets

477,805

415,741

385,580

Total current assets

18,124,112

15,610,705

14,806,714

Property and equipment, net

3,126,029

2,956,472

2,510,531

Goodwill and intangible assets

1,911,547

1,895,859

1,826,950

Other assets

3,191,368

3,066,707

2,756,016

Total assets

$    26,353,056

$    23,529,743

$    21,900,211

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current portion of long-term debt and finance lease obligations

$           3,486

$           4,073

$        754,363

Other current liabilities

7,309,013

5,933,176

5,953,547

Total current liabilities

7,312,499

5,937,249

6,707,910

Long-term debt and finance lease obligations

3,731,958

3,730,490

3,729,580

Income taxes payable

684,273

681,197

646,044

Other long-term liabilities

715,852

709,886

623,925

Total liabilities

12,444,582

11,058,822

11,707,459

Stockholders’ equity (2)

13,908,474

12,470,921

10,192,752

Total liabilities and stockholders’ equity

$    26,353,056

$    23,529,743

$    21,900,211

(1)

Derived from audited financial statements.

(2)

Common shares issued and outstanding were 1,249,145 as of September 27, 2026, 1,251,278 as of June 28, 2026, and 1,259,176 as of September 28, 2025.

 

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

 

Three Months Ended

September 27,
2026

June 28,
2026

September 28,
2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$     2,753,138

$     2,277,282

$     1,568,660

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

Depreciation and amortization

122,072

119,642

101,644

Deferred income taxes

(55,300)

(175,752)

(62,875)

Equity-based compensation expense

114,696

103,985

97,241

Other, net

27,633

(8,006)

(1,890)

Changes in operating assets and liabilities

535,413

(859,923)

76,184

Net cash provided by operating activities

3,497,652

1,457,228

1,778,964

CASH FLOWS FROM INVESTING ACTIVITIES:

Capital expenditures and intangible assets

(257,697)

(188,801)

(185,121)

Other, net

(9,292)

45,060

(927)

Net cash used for investing activities

(266,989)

(143,741)

(186,048)

CASH FLOWS FROM FINANCING ACTIVITIES:

Principal payments on debt, including finance lease obligations and payments for debt issuance costs

(34,489)

(1,355)

(1,417)

Treasury stock purchases, including excise tax payments

(1,024,965)

(246,560)

(975,791)

Dividends paid

(325,402)

(325,318)

(291,981)

Reissuance of treasury stock related to employee stock purchase plan

—

88,780

—

Proceeds from issuance of common stock, net of issuance costs

4,263

4,426

—

Other, net

(1,786)

(282)

(12,449)

Net cash used for financing activities

(1,382,379)

(480,309)

(1,281,638)

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

4,663

(2,056)

(7,059)

Net change in cash, cash equivalents, and restricted cash

1,852,947

831,122

304,219

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

5,597,943

4,766,821

6,407,656

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

$     7,450,890

$     5,597,943

$     6,711,875

(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 27,
2026

June 28,
2026

Revenue

$     8,219,418

$     6,722,238

Gross margin

$     4,305,019

$     3,497,336

Gross margin as a percent of revenue

52.4 %

52.0 %

Operating expenses

$     1,004,280

$        916,420

Operating income

$     3,300,739

$     2,580,916

Operating margin

40.2 %

38.4 %

Net income

$     2,768,417

$     2,279,968

Net income per diluted share

$              2.20

$              1.82

Shares used in per share calculation – diluted

1,255,768

1,256,032

 

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

(in thousands, except per share data)

(unaudited) 

 

Three Months Ended

September 27,
2026

June 28,
2026

U.S. GAAP net income

$       2,753,138

$       2,277,282

Pre-tax non-GAAP items:

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

2,668

2,668

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

3,498

15,379

Workforce optimization charges – cost of goods sold

—

549

EDC related liability valuation increase – research and development

6,299

27,682

Workforce optimization charges – research and development

—

960

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

348

348

EDC related liability valuation increase – selling, general and administrative

4,199

18,454

Workforce optimization charges – selling, general and administrative

—

1,388

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

508

504

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

(12,870)

(61,325)

Net income tax benefit on non-GAAP items

(825)

(3,921)

Income tax expense from a change in tax law

11,454

—

Non-GAAP net income

$       2,768,417

$       2,279,968

Non-GAAP net income per diluted share

$                2.20

$                1.82

U.S. GAAP net income per diluted share

$                2.19

$                1.81

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

1,255,768

1,256,032

 

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 27,
2026

June 28,
2026

U.S. GAAP gross margin

$     4,298,853

$     3,478,740

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

2,668

2,668

EDC related liability valuation increase

3,498

15,379

Workforce optimization charges

—

549

Non-GAAP gross margin

$     4,305,019

$     3,497,336

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

52.3 %

51.7 %

Non-GAAP gross margin as a percent of revenue

52.4 %

52.0 %

U.S. GAAP operating expenses

$     1,015,126

$        965,252

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

(348)

(348)

EDC related liability valuation increase

(10,498)

(46,136)

Workforce optimization charges

—

(2,348)

Non-GAAP operating expenses

$     1,004,280

$        916,420

U.S. GAAP operating income

$     3,283,727

$     2,513,488

Non-GAAP operating income

$     3,300,739

$     2,580,916

U.S. GAAP operating margin

40.0 %

37.4 %

Non-GAAP operating margin

40.2 %

38.4 %

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

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SOURCE Lam Research Corporation

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Technology

SERA PROGNOSTICS ANNOUNCES CONFERENCE CALL AND WEBCAST OF THIRD QUARTER FISCAL YEAR 2026 FINANCIAL RESULTS ON NOVEMBER 4, 2026

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SALT LAKE CITY, Oct. 21, 2026 /PRNewswire/ — Sera Prognostics Inc., The Pregnancy Company® (Nasdaq: SERA), focused on improving maternal and neonatal health by providing innovative pregnancy biomarker information to doctors and patients, today announced it will report its third quarter fiscal year 2026 financial results on Wednesday, November 4, 2026, after market close. The Company will host a corresponding conference call and live webcast to discuss operational highlights, financial results and key topics at 5:00 p.m. Eastern Time. A press release outlining the financial results and highlights will be publicly distributed before the call.

Conference Call Details:
US domestic callers: (800) 836-8184
International callers: (646) 357-8785

Webcast Registration Link: https://app.webinar.net/wK8exGQrE0B

Live audio of the webcast will be available on the Investors page of the Company’s website at www.sera.com. The webcast will be archived on the Investors page and will be available for one year.

About Sera Prognostics, Inc.

Sera Prognostics is a leading health diagnostics company dedicated to improving the lives of women and babies through precision pregnancy care. Sera’s mission is to provide early, pivotal pregnancy information to improve the health of mothers and newborns, resulting in reductions in the costs of healthcare delivery. Sera has a robust pipeline of innovative diagnostic tests focused on the early prediction of preterm birth risk and other complications of pregnancy. Sera’s precision medicine PreTRM® Test reports to a physician the individualized risk of spontaneous premature delivery in a pregnancy, enabling earlier proactive interventions in women with higher risk. Sera Prognostics is headquartered in Salt Lake City, Utah.

About Preterm Birth

Preterm birth is defined as any birth before 37 weeks’ gestation and is the leading cause of illness and death in newborns. The 2025 March of Dimes Report Card shows that, for the fourth consecutive year, the United States earned a D+ grade for preterm birth, marking the longest stretch of the lowest grade in Report Card history. Prematurity is associated with a significantly increased risk of major long-term medical complications, including learning disabilities, cerebral palsy, chronic respiratory illness, intellectual disability, seizures, and vision and hearing loss, and can generate significant costs throughout the lives of affected children. The annual health care costs to manage short- and long-term complications of prematurity in the United States were estimated to be approximately $25 billion for 2016.

About the PreTRM® Test

The PreTRM® Test is the only broadly validated, commercially available blood-based biomarker test that provides an early, accurate and individualized risk prediction for spontaneous preterm birth in asymptomatic singleton pregnancies. The PreTRM® Test measures and analyzes proteins in the blood that are highly predictive of preterm birth. The PreTRM® Test permits physicians to identify, during the weeks 18 through 20 of pregnancy, which women are at increased risk for preterm birth and its complications, enabling more informed, personalized clinical decisions based on each woman’s individual risk. The PreTRM® Test is ordered by a medical professional.

Sera, Sera Prognostics, the Sera Prognostics logo, The Pregnancy Company, and PreTRM are trademarks or registered trademarks of Sera Prognostics, Inc. in the United States and/or other countries.

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the date, time and content of the Company’s quarterly earnings release and conference call; availability of the live audio of the conference call on the Company’s website; and the Company’s strategic directives under the caption “About Sera Prognostics, Inc.” These “forward-looking statements” are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by forward-looking statements. These risks and uncertainties include, but are not limited to: net losses, cash generation, and the potential need to raise more capital; revenues from the PreTRM Test representing substantially all Company revenues to date; the need for broad scientific and market acceptance of the PreTRM Test; a concentrated number of material customers; our ability to introduce new products; potential competition; our proprietary biobank; critical suppliers; estimates of total addressable market opportunity and forecasts of market growth; potential third-party payer coverage and reimbursement; new reimbursement methodologies applicable to the PreTRM Test, including new CPT codes and payment rates for those codes; changes in FDA regulation of laboratory-developed tests; the intellectual property rights protecting our tests and market position; and other factors discussed under the heading “Risk Factors” contained in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, as well as any updates to those risk factors filed from time to time in our periodic and current reports filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and the Company undertakes no duty to update this information unless required by law. 

Investor Contact
Jennifer Zibuda, Head of Investor Relations
jzibuda@sera.com
+1 (801) 396-8043

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SOURCE Sera Prognostics, Inc.

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