Connect with us

Technology

Thinkific Announces First Quarter 2025 Financial Results

Published

on

Q1 2025 Revenue Increases to $17.8 Million, up 12% Y/Y
Q1 2025 ARR Grew by $1.8 Million to $60.1 Million
Delivers Cash Flow from Operations of $3.2 Million and Maintains Adjusted EBITDA of 5% of Revenue

Thinkific reports in thousands of U.S. dollars and in accordance with IFRS

VANCOUVER, BC, May 6, 2025 /CNW/ – Thinkific Labs Inc. (“Thinkific” or the “Company”) (TSX: THNC), a leading cloud-based software platform that enables entrepreneurs and established businesses of all sizes to create, market, and sell digital learning products, today announced its financial results for the quarter ended March 31, 2025.

“I am happy to announce Q1 results where our revenue of $17.84 million slightly exceeded the top end of our revenue guidance range.” said Greg Smith, CEO and Founder of Thinkific. “Upside was driven by improved subscription revenue performance, particularly in Self-Service which benefited from improvements we made to our customer onboarding process. Looking ahead, we are working hard on executing the focused strategy we outlined last quarter and are gearing up for important product launches and marketing and brand campaigns this summer. I am confident in our ability to provide our customers with the tools and resources they need to achieve their business goals – and as they succeed and grow, so will Thinkific.”

First Quarter Financial Highlights

Total revenue increased 12% year-over-year to $17.8 million, compared to the guided range of $17.5 – $17.8 million.Commerce revenue increased 52% to $3.3 million, compared to $2.1 million in the first quarter of 2024.Thinkific Commerce penetration rate, measured as GPV as a percent of GMV, increased to 56%, up from 37% in the prior year as customers increasingly choose Thinkific Commerce to power their sales.Subscription revenue increased 6% to $14.6 million, compared to the first quarter of 2024.On a customer group basis (inclusive of both subscription and commerce revenue), Thinkific Plus grew 27% to $4.5 million and Self Serve revenue increased 7% to $13.3 million, compared to the first quarter of 2024.Gross margin remained consistent at 74% year-over-year.Net income was $0.4 million compared to net loss of $1.1 million in the first quarter of 2024, representing an increase of $1.5 million.Adjusted EBITDA(1) of $0.9 million or 5% of revenue in the first quarter of 2025 compared to $0.2 million in the first quarter of 2024 represents an improvement of $0.7 million.ARR(2) grew 6% to $60.1 million from $56.7 million in the first quarter of 2024.ARPU(2) increased 10% to $168 per month compared to $152 per month in the first quarter of 2024 due to continued strength in Thinkific Plus and Thinkific Commerce.GPV(2) processed through Thinkific Commerce increased 46% to $65 million in the first quarter of 2025 compared to $45 million in the same period of the prior year. GMV(2) was $117 million, representing a decrease of 5% compared to the first quarter of 2024.Cash and cash equivalents were $51.4 million at March 31, 2025.During the first quarter of 2025, the company generated $3.2 million of cash from operating activities, consistent with the same period of the prior year.

“I am pleased with our start to the year as changes we made in our go-to-market led to improved productivity and ARR growth”, said Corinne Hua, CFO of Thinkific. “We maintained our Adjusted EBITDA(1) margin and continued to generate cash flow from operations, further underscoring the power and resilience of our financial model. We are now executing on our focused strategy, which we believe will drive long-term financial performance and increased shareholder value.”

(1)

Non-IFRS measure. See “Non-IFRS Measures” and the reconciliation to the most directly comparable IFRS measure.

(2)

Key Performance Indicators. See definition in “Key Performance Indicators”.

First Quarter Operational Highlights

On February 19, 2025, Thinkific announced it had been recognized in G2’s 2025 Best Software Awards, placing among the world’s top software companies for ‘Best Customer Service Software Products’, and ‘Best Education Software Products’, — two categories with over 3,000 products. Thinkific was also recognized as one of the ‘Best Software Companies in Canada‘.On Feb 5, 2025, Thinkific launched an integration with HubSpot, adding to our library of essential enterprise-grade solutions that allow larger businesses to consider and choose Thinkific as their learning solution.On March 25, 2025, Thinkific was recognized by Waterstone Human Capital as one of the “Most Admired Corporate Cultures of 2024” in their Growth Category for building and enhancing cultures that drive performance.Throughout the quarter Thinkific released continuous improvements to our platform – including enhancing our AI content generation tools and advances in our communities memberships functionality. Improvements to our sign up and onboarding flow led to improved customer activation metrics, and our advanced analytics now enable building custom dashboards, scheduling automated reports, and sharing insights with peers.

Subsequent to Quarter-End

On April 8, 2025, Thinkific released Private Spaces in Communities, a highly anticipated feature that will help enhance customer retention by allowing them to create dedicated spaces to connect and engage with learners.On April 24, 2025, Thinkific converted all multiple voting shares to single voting shares. Simplifying the capital structure improves corporate governance and is a first step in enhancing shareholder value. This strategic change demonstrates management’s confidence in Thinkific’s growth trajectory and their dedication to maximizing long-term value for every shareholder.

Outlook

For the second quarter of 2025, the Company expects revenue of $17.7 – $18.0 million which represents 9-11% growth compared to the second quarter of 2024. We plan to continue growth-focused investments in line with revenue growth, and expect Adjusted EBITDA(1) margin to be consistent with prior quarters.

Actual results may differ materially from Thinkific’s financial outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below.

Quarterly Conference Call and Webcast Information

A conference call will be held at 5:00 PM ET (2:00 PM PT) on May 6, 2025 to discuss Thinkific’s first quarter 2025 financial and operational results. To participate in the call, please dial 1.888.510.2154 (US/Canada toll-free) or 1.437.900.0527 (International/Toronto). For those unable to participate, a replay will be available an hour after the event by dialing 1.888.660.6345 (US/Canada toll-free) or 1.289.819.1450 (International/Toronto). The passcode is 97196#. The replay will expire at midnight ET on May 13, 2025. The conference call will also be available via webcast on the Investor Relations section of Thinkific’s website at investors.thinkific.com/events-and-presentations.

Thinkific’s audited consolidated financial statements and accompanying notes, and Management’s Discussion and Analysis for the quarter ended March 31, 2025, are available on the Company’s website at www.thinkific.com and on SEDAR+ at www.sedarplus.ca.

About Thinkific

Thinkific (TSX:THNC) makes it simple for customers and established businesses of any size to scale and generate revenue by teaching what they know. Our platform gives businesses everything they need to build, market, and sell digital learning products — from courses to communities — and to run their business seamlessly under their own brand, on their own site. Thinkific’s 50,000+ active customers earn hundreds of millions of dollars in direct course, membership and community sales while teaching tens of millions of students. Thinkific is headquartered in Vancouver, Canada, with a distributed team.

For more information, please visit www.thinkific.com.

(1)

Non-IFRS measure. See “Non-IFRS Measures” and the reconciliation to the most directly comparable IFRS measure.

Non-IFRS Measures

The information presented within this press release includes “Adjusted EBITDA” and certain industry metrics. The “Adjusted EBITDA” is not a recognized measure under International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board, does not have a standardized meaning prescribed by IFRS, and is therefore unlikely to be comparable to similar measures presented by other companies. Rather, this measure is provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management’s perspective. Accordingly, it should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. We also use certain industry metrics: “Annual Recurring Revenue”, “Paying Customers”, “Average Revenue per User”, “Gross Merchandise Volume” and “Gross Payments Volume”. These industry metrics are unaudited and are not directly derived from our financial statements. The non-IFRS measure and industry metrics are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use non-IFRS measures and industry metrics in the evaluation of issuers. Our management also uses the non-IFRS measure and industry metrics in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation.

“Adjusted EBITDA” is defined as Net income (loss) excluding taxes, interest, depreciation and amortization (or EBITDA), as adjusted for stock-based compensation, foreign exchange loss, and finance income. Adjusted EBITDA does not have a standardized meaning under IFRS and is not a measure of operating income, operating performance or liquidity presented in accordance with IFRS, and is subject to important limitations.

Please refer to “Reconciliation to IFRS from Non-IFRS measures” in this press release for more information.

Key Performance Indicators

We monitor the following industry metrics to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions: “Annual Recurring Revenue” or “ARR”, “Average Revenue per User” or “ARPU”, “Gross Merchandise Volume” or “GMV”, and “Gross Payments Volume” or “GPV”. Our key performance indicators may be calculated in a manner different than similar key performance indicators used by other companies.

“ARPU” is the average monthly Revenue per Paying Customer in the quarter. ARPU is calculated by taking the average Revenue for each month in the quarter and dividing this by the average number of Paying Customers for the same quarter.

“ARR” is the annual value of all current Paying Customer subscriptions at the end of the period, with the number of Paying Customers multiplied by 12 times the average monthly subscription plan fee in effect on the last day of that period.

“GMV” is the total dollar value of all transactions of course sales, membership subscriptions, or other products or services by our customers, facilitated through our platform during the period, net of refunds. GMV does not include transactions for course sales, membership subscriptions, or other products or services processed by application programming interfaces or certain apps where the Company does not record the transaction value.

“GPV” is the total dollar value of transactions processed using Thinkific Payments in the period, net of refunds and inclusive of sales taxes where applicable. GPV does not represent revenue earned by us. Penetration rate is the percentage of GMV processed through Thinkific Payments, it is calculated by dividing GPV by GMV for the respective period. We believe that growth in GPV and penetration is an indicator of success of our customers in monetizing their learning products and of our Thinkific Payments offering. It is also a positive growth driver of revenue, which is derived from payment processing fees. Revenue earned from Thinkific Payments is included in our commerce revenue.

Forward-Looking Statements

This press release includes forward-looking statements and forward–looking information within the meaning of applicable securities laws in Canada. Forward-looking statements and information may relate to our future financial outlook and anticipated events or results and may include information regarding our financial position, business strategy, growth strategies, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “trends”, “directional indicator”, “indicator”, “future success”, “expects”, “is expected”, “opportunity”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”, “scalability”, “trajectory”, “prospects”, “strategy”, “intends”, “anticipates”, “adoption”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or, “will”, “occur” or “be achieved”, and similar words, or the negative of these terms and similar terminology. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking statements in this press release include, but are not limited to statements regarding our financial position; management’s ability to increase business efficiencies necessary to build and maintain a sustainable cost structure; business strategy, budgets, operations, investments, financial results, our ability to retain a profitable Adjusted EBITDA run rate, plans and objectives around growth and profitability; industry trends; growth in our industry; our growth rates and growth strategies; the expectations regarding our revenue and the revenue generation potential of Our Platform and other products including the Spotify pilot; and our competitive position in our industry.

Forward-looking statements and information are based on our opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, the Company’s ability to execute on its growth strategies; the impact of changing conditions and increasing competition in the global e-learning market in which the Company operates; the Company’s ability to keep pace with technological and marketplace changes including, but not limited to fluctuations in currency exchange rates and volatility in financial markets; changes in attitudes, financial condition and demand of our target market; developments and changes in applicable laws and regulations; and such other factors discussed in greater detail under the “Risk Factors” section of our 2024 Annual Information Form (“AIF”).

Forward-looking statements and information are necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control and many of which, regarding future business decisions, are subject to change. Assumptions or factors underlying the Company’s expectations regarding forward-looking statements or information contained in this press release include, among others: our ability to continue investing in infrastructure to support our growth and brand recognition; our ability to continue maintaining, innovating, improving and enhancing our technological infrastructure and functionality, performance, reliability, design, security and scalability of our Platform (as defined in our AIF); our ability to maintain existing relationships with customers (as defined in our AIF) and to continue to expand our customers’ use of our platform; our ability to acquire new customers; our ability to maintain existing material relationships on similar terms with service providers, suppliers, partners and other third parties; our ability to build our market share and enter new markets and industry verticals; the continued development, rollout, integration and success of new products, features, and services; our ability to retain key personnel; our ability to maintain and expand geographic scope; our ability to execute on our expansion and growth plans; our ability to obtain and maintain existing financing on acceptable terms; currency exchange and interest rates; the impact of competition; the changes and trends in our industry or the global economy; and the changes in laws, rules, regulations, and global standards. The foregoing list of assumptions cannot be considered exhaustive.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information provided herein. The opinions, estimates or assumptions referred to above are described in greater detail in “Summary of Factors Affecting our Performance” and in the “Risk Factors” section of our AIF, which is available under our profile on SEDAR+ at www.sedarplus.ca, should be considered carefully by prospective investors. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material, that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents our expectations as of the date specified herein, and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements. Readers are cautioned that any such forward-looking information should not be used for purposes other than for which it is disclosed.

THINKIFIC LABS INC.
Condensed Interim Consolidated Statements of Financial Position (unaudited)
Amounts expressed in thousands of U.S. dollars

As at March 31

As at December 31

2025

2024

Assets

Current assets

Cash and cash equivalents

$                          51,373

$                          49,492

Trade and other receivables

4,001

4,585

Prepaid expenses and other assets

2,486

3,288

Contract acquisition assets

674

640

Total current assets

58,534

58,005

Property and equipment

524

580

Lease right-of-use assets

1,652

1,738

Contract acquisition assets

1,003

909

Intangible assets

184

136

Total assets

$                          61,897

$                          61,368

Liabilities and shareholders’ equity

Current liabilities

Accounts payable and accrued liabilities

$                            7,125

$                            7,598

Lease liabilities

314

368

Deferred revenue

10,808

9,869

Derivative liability

341

538

Total current liabilities

18,588

18,373

Lease liabilities

1,345

1,401

Total liabilities

19,933

19,774

Shareholders’ equity

Share capital

109,102

109,460

Contributed surplus

8,075

7,945

Accumulated other comprehensive loss

(379)

(576)

Accumulated deficit

(74,834)

(75,235)

Total shareholders’ equity

41,964

41,594

Total liabilities and shareholders’ equity

$                          61,897

$                          61,368

THINKIFIC LABS INC.
Condensed Interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (unaudited)
Amounts expressed in thousands of U.S. dollars, except share and per share amounts

Three months ended March 31

2025

2024

Revenue

$                           17,844

$                           15,964

Cost of revenue

4,672

4,088

Gross profit

13,172

11,876

Operating expenses

Sales and marketing

5,026

4,988

Research and development

4,898

4,644

General and administrative

3,441

3,781

Total operating expenses

13,365

13,413

Operating loss

(193)

(1,537)

Other income (expenses)

Finance income

601

904

Foreign exchange loss

(7)

(436)

Total other income

594

468

Net income (loss)

401

(1,069)

Other comprehensive income (loss)

Unrealized gain (loss) on derivatives

197

(497)

Total comprehensive income (loss)

$                                598

$                            (1,566)

Weighted average number of common shares outstanding – basic

68,178,844

81,067.077

Weighted average number of common shares outstanding – diluted

69,176,300

81,067,077

Earnings (loss) per share

Basic

$                               0.01

$                              (0.01)

Diluted

$                               0.01

$                              (0.01)

THINKIFIC LABS INC.
Condensed Interim Consolidated Statements of Cash Flows (unaudited)
Amounts expressed in thousands of U.S. dollars

Three months ended March 31

2025

2024

Operating activities

Net income (loss)

$                  401

$              (1,069)

Items not affecting cash and cash equivalents:

Depreciation and amortization

351

332

Stock-based compensation

764

1,445

Unrealized foreign exchange loss

14

434

Finance income

(601)

(904)

Interest received

79

1,336

Changes in non-cash working capital:

Trade and other receivables

995

(355)

Prepaid expenses and other assets

800

999

Contract acquisition assets

(304)

(120)

Accounts payable and accrued liabilities

(263)

411

Deferred revenue

939

570

Cash from operating activities

$               3,175

$               3,079

Investing activities

Proceeds on disposal of property and equipment

—

77

Investment in property and equipment and intangible assets

(82)

(193)

Cash used in investing activities

$                   (82)

$                 (116)

Financing activities

Operating lease payments

(106)

(111)

Exercise of stock options

35

47

Tax remittances on stock based compensation

(204)

—

Shares repurchased for cancellation under normal course issuer bid

(685)

(1,764)

Cash used in financing activities

$                 (960)

$              (1,828)

Effect of exchange rate fluctuations on cash and cash equivalents held

(252)

(432)

Increase in cash and cash equivalents

1,881

703

Cash and cash equivalents, beginning of period

49,492

86,611

Cash and cash equivalents, end of period

$             51,373

$             87,314

THINKIFIC LABS INC.
Reconciliation from IFRS to Non-IFRS Measures (unaudited)
Amounts expressed in thousands of U.S. dollars

Three months ended March 31

(in thousands of U.S. dollars)

2025

2024

Net income (loss)

$                         401

$                    (1,069)

Stock-based compensation

764

1,445

Depreciation and amortization

351

332

Foreign exchange loss

7

436

Finance income

(601)

(904)

Adjusted EBITDA

$                         922

$                         240

SOURCE Thinkific Labs Inc.

Continue Reading

Technology

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

Published

on

By

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.

The featured panelists will explore how decisions made during clone establishment and early cell development can influence long-term cellular stability. The discussion will examine how culture conditions, media and matrix selection and cellular stress can affect clonal outgrowth and contribute to genetic drift, as well as how stronger clone-selection and monitoring strategies can help reduce these risks.

Using iPSC development as a key application, the speakers will demonstrate how single-cell cloning, image-verified clone selection and automated clonal outgrowth monitoring can provide greater confidence and traceability during cell development. They will also explore when recloning may be appropriate, how genetic integrity can be monitored at key stages and how these approaches can support the creation of robust, well-characterized cell banks.

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.

ABOUT XTALKS

Xtalks – The Life Science Community™ empowers professionals across pharma, biotech, medtech, healthcare and research with the trusted knowledge and collaborative insights that move the industry forward. Powered by Honeycomb Worldwide Inc., Xtalks delivers news, feature articles, webinars, podcasts, videos, expert interviews, curated job opportunities and more designed to support informed decision-making in a fast-evolving sector.

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
For information about working with Xtalks to host your webinar, visit https://xtalks.com/partner-with-us/

Contact:
Soumya Shashikumar
Tel: +1 (416) 977-6555 x371
Email: skumar@xtalks.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/improve-cell-line-stability-from-cloning-to-gmp-manufacturing-upcoming-webinar-hosted-by-xtalks-302915898.html

SOURCE Xtalks

Continue Reading

Technology

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

Published

on

By

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/lam-research-corporation-reports-financial-results-for-the-quarter-ended-september-27-2026-302915810.html

SOURCE Lam Research Corporation

Continue Reading

Technology

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

Published

on

By

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/sera-prognostics-announces-conference-call-and-webcast-of-third-quarter-fiscal-year-2026-financial-results-on-november-4-2026-302915767.html

SOURCE Sera Prognostics, Inc.

Continue Reading

Trending