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Wind Turbines Market to Reach $116.6 Billion by 2027, Unveils Latest BCC Research Study

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Discover the intricate world of Wind Turbines as we unravel the complexities surrounding their cutting-edge Technologies, Applications, and the ever-evolving Global Markets. Explore the forefront of sustainable energy in this insightful exploration of wind turbine advancements.

BOSTON, Feb. 23, 2024 /PRNewswire/ — “According to the latest BCC Research study, the demand for Wind Turbines: Technologies, Applications and Global Markets is estimated to increase from $85.3 billion in 2022 to reach $116.6 billion by 2027, at a compound annual growth rate (CAGR) of 6.5% from 2022 through 2027.”

 

This comprehensive report navigates through the intricate landscape of wind turbines, analyzing diverse factors such as turbine types, installation methods, grid connectivity, end-use applications, capacity ratings, and regional market developments. Notably, the study delves into major markets like the U.S., China, Germany, and others, offering a lucid exploration of lucrative opportunities. Presented in a user-friendly format, the report utilizes tables and figures to illustrate historical, current, and future market scenarios. It meticulously covers leading companies, including product types and financial insights, and extends its reach to encompass a list of other global and regional market players. Investors will find valuable insights in the patent analysis dedicated to the wind turbines market. Moreover, the report addresses the profound impacts of COVID-19 and the Russia–Ukraine war on global and regional markets. With 2021 as the base year, estimated values for 2022, and forecasts spanning 2022 to 2027, all market figures are expressed in millions of dollars, while market shares and CAGRs are provided in percentages.

Wind energy, harnessed through wind turbines, plays a pivotal role in electricity generation by utilizing the wind’s power to turn turbine blades attached to a rotor, subsequently spinning a generator and producing electricity. The Global Wind Energy Council (GWEC) envisions wind energy systems contributing 20% to the global electricity demand by 2030. Wind turbines come in various sizes, from small turbines generating 100 kW suitable for home use to large turbines reaching heights of 240 meters and producing 4.8 to 9.5 MW of power. Researchers at the National Renewable Energy Laboratory (NREL) are exploring sustainable practices by developing wind turbine blades using a thermoplastic resin system, enabling recyclability and reducing energy consumption in manufacturing. Despite environmental impacts associated with materials and fossil fuel use, wind energy is recognized for its potential to significantly reduce carbon emissions. With a projected 20% contribution to global electricity production by 2030, the wind energy sector is bolstered by increasing investments, favorable regulations, and growing consumer awareness, emphasizing the future role of offshore wind turbines, including the promising technology of floating wind turbines.

Explore the comprehensive insights and strategic implications of this groundbreaking research. Click here Learn More.

Key Drivers of Wind Turbines: Technologies, Applications and Global Markets

Growing Demand for Renewable Power Sources Propels the Market for Wind Turbines: The increasing global population and economic expansion have amplified the demand for electricity, fostering a necessity for more sustainable power options. Wind energy, as one of the most abundant and clean renewable sources, offers a solution to reduce greenhouse gas emissions and diminish reliance on fossil fuels. Wind turbines efficiently harness the kinetic energy of the wind, converting it into electricity applicable across residential, commercial, industrial, and grid-connected sectors. Additionally, wind energy contributes to energy security, rural development, and environmental benefits.

Supportive Government Regulations & Policies for Wind Energy are Fueling the Market Growth: Governments worldwide are recognizing the potential of wind energy and responding with a range of policies and regulations to support its development and deployment. These initiatives encompass feed-in tariffs, auctions, tax incentives, renewable portfolio standards, carbon pricing, and grid access policies. The objective is to establish a conducive market environment for wind energy by offering financial incentives, mitigating risks, ensuring fair competition, and facilitating integration.

Increasing Demand for Electricity Fuels Market Growth: With the global demand for electricity projected to surge by 80% by 2030, driven by urbanization, industrialization, electrification, and digitalization, wind energy emerges as a pivotal solution. Beyond providing a reliable, affordable, and sustainable electricity source, wind energy is well-suited to meet peak demand, aligning with periods of high electricity consumption like winter and summer. Additionally, wind energy can collaborate with other renewables, such as solar and hydro, creating a diversified and resilient energy mix.

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Report Synopsis 

Report Metrics

Details

Base Year Considered

2021

Forecast Period considered

2022-2027

Base Year Market Size

$81.4 billion

Market Size Forecast

$116.0 billion

Growth Rate

CAGR of 6.4% for the forecast period of 2022-2027

Segment Covered

turbine types, installations type, grid connectivity, end use, capacity rating, end user, and region

Regions Covered

North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW)

Countries Covered

United States, Canada, Mexico, France, Turkey, Denmark, U.K., Netherlands, Sweden Germany, China, Japan, Australia, India, and Vietnam

Key Market Drivers

•  Growing Demand for Renewable Power Sources Propels the Market for Wind Turbines.

•  Supportive Government Regulations & Policies for Wind Energy are Fueling the Market Growth.

•  Increasing Demand for Electricity Fuels Market Growth.

 

Wind Turbines Technologies, Applications and Global Markets Segmentation:

Turbine Types Segmentation

Within this report, the global wind turbine market undergoes segmentation based on turbine type, distinguishing between horizontal-axis turbines and vertical-axis turbines. The former rotates on an axis parallel to the ground, requiring a yaw mechanism for wind direction alignment. Major components include blades, hub, gearbox, generator, tower, nacelle, and yaw control. Notably complex and costlier due to a top-placed gearbox and generator, horizontal-axis turbines offer intricate design. In contrast, vertical-axis turbines feature an axis perpendicular to the air stream, with a simpler and more cost-effective design placing the gearbox and generator at the base. While vertical-axis turbines have a lower power coefficient and require a starting mechanism, both turbine types present distinct advantages and disadvantages in design, construction, and operational features for effective wind energy harnessing.

Installation Types Segmentation

This segment meticulously divides the global wind turbine market into onshore and offshore segments, where the underlying technology for electricity generation remains fundamentally similar. The distinction lies in their positioning, size, scale, and the transmission of electricity, accompanied by variations in installation costs and supply chain restrictions. The strategic selection of wind farm installation sites hinges upon the mean or average wind speed of the area, with the rated wind speed set at 1.4 times the annual speed for turbine design. Areas with an annual wind speed of 5 m/s or more are deemed suitable for wind turbine installation, considering factors such as land topography, geology, grid structure and distance, and turbine size.

Grid Connectivity Segmentation

This segment introduces a segmentation of the wind turbine market based on connectivity, distinguishing between on-grid and off-grid segments. The on-grid segment is anticipated to dominate the global market during the forecast period, driven by the ongoing deployment of wind turbines connected to the grid. However, the off-grid segment is poised for rapid growth, propelled by increasing investments in off-grid wind projects. Off-grid connectivity emerges as a crucial alternative in locations where connecting to the grid is impractical due to factors like distance or cost. Serving as a reliable backup in areas with inconsistent power utility supply, off-grid wind power offers the significant advantage of independence from the electric grid. It proves to be a valuable solution in locations where utility service is unfeasible or cost prohibitive.

End Users Segmentation

Within this report, the wind turbine market undergoes segmentation based on end use, categorizing into independent power producers, investor-owned utilities, public power utilities, and rural electric cooperatives. Notably, the public power utilities and investor-owned utilities segments collectively command approximately three-quarters of the market share. Independent Power Producers (IPPs), distinct from public utilities, play a significant role by owning facilities for electric power generation, selling their output to utilities and end-users. IPPs, acting as entities responsible for the development and operation of power plants, along with independent marketers engaged in buying and selling power predominantly produced by others, contribute dynamically to the landscape of wind energy utilization.

Capacity Rating Segmentation

This Segment on the wind turbine market employs a segmentation based on rating, classifying turbines into below 2 MW, 2 MW to 4 MW, and above 4 MW categories. The surge in wind energy installations since 2000 can be attributed to substantial investments in research and development along with supportive government policies. Technological advancements and scalability have led to cost reductions and increased capacity factors. Notably, between 2010 and 2020, the global weighted average levelized cost of electricity (LCOE) for onshore wind plummeted by 56%, reaching $0.039/kWh. The report highlights the evolution of turbine capacity, emphasizing the shift from 1985’s typical 0.05 MW turbines to 2022’s onshore installations boasting 3 to 4 MW ratings and offshore turbines ranging from 8 to 12 MW. The increasing height of turbine towers, larger rotor diameters, and the deployment of higher-rated turbines globally contribute to the enhanced efficiency of wind projects, reflecting the industry’s continuous evolution.

End-Use Sector Segmentation

Within the confines of this report, the wind turbine market is methodically segmented by end-user categories, encompassing residential, industrial, commercial, and utility segments. Foreseeing a sustained dominance, the utility segment is poised to maintain its leading position globally, attributed to the escalating number of wind projects specifically catering to utilities. Notably, Independent Power Producers (IPPs) play a pivotal role by producing wind energy and entering into long-term agreements to sell it to utilities. The power generated undergoes transmission through the utilities’ grid, subsequently supplying industrial and commercial users. This strategic interplay between IPPs and utilities underscores the dynamic ecosystem within the wind energy landscape.

By Region Segmentation

Wind energy emerges as a pivotal force in advancing global clean energy initiatives, with both onshore and offshore wind projects poised for substantial growth. The success of wind turbine installations hinges on strategic site selection, considering factors such as wind speed, meteorological patterns, and terrain. Leading economies, including the U.S., European Union, the United Kingdom, China, and India, underscore their commitment to transitioning away from coal dependency toward green energy deployment. This shift is facilitated by government support, aligning efforts to implement green technologies worldwide. The momentum away from fossil fuel consumption aligns with ambitious climate goals, facilitated by declining renewable energy costs, stringent emission regulations, enhanced energy security, and improved universal energy access. Despite a dip in wind capacity installations in 2020 due to the COVID-19 pandemic, major economies like the U.K., Germany, France, Sweden, and the Netherlands are anticipated to drive the wind turbines market, reflecting a global push towards renewable energy adoption. Government subsidies and wind energy targets continue to drive investments, particularly in the onshore wind energy industry, with Europe standing out as a major hub for onshore wind development. Global wind power capacity reached 837 GW by the end of 2021, with China, the U.S., Germany, India, and Spain accounting for 72% of installations. The industry’s recovery is evident, with new installations and investments expected to surge, demonstrating the resilience and future potential of the wind energy sector.

This report on Wind Turbines Technologies, Applications and Global Markets provides comprehensive insights and analysis, addressing the following key questions:

What is the projected market size and growth rate of the wind turbine market? 
The wind turbines market is projected to grow from $81.4 billion in 2021 to $116.0 billion in 2027 at a compound annual growth rate (CAGR) of 6.4% during the forecast period.What are the key factors driving the growth of the wind turbine market? Growing demand for renewable power sources.Supportive government regulations & policies for wind energy.Increasing demand for electricity.Increasing investment in wind energy projects.What segments are covered in the wind turbine market?
The wind turbine market is segmented based on turbine type, Installation, grid connectivity, end-use, capacity rating, end-user, and region.By turbine type, which segment will dominate the market by the end of 2027?
Horizontal-axis turbine segment will dominate the market by the end of 2027.Which region has the highest market share in the wind turbine market?
Asia-Pacific holds the highest share of the global market.

Some of the Key Market Players Are:

 Vestas Wind Systems A/S Goldwind Siemens Gamesa Envision Energy USA Limited General Electric Mingyang Smart Energy Group Co., Ltd. Nordex SE Seawind Ocean Technology Holding B.V. Sany Renewable Energy Co., Ltd. ENERCON GmbH.

Browse More Related Reports:

The Global Market for Distributed Energy Generation: The report provides a comprehensive analysis of various distributed energy generation technologies, including reciprocating engines, small hydropower, solar PV, small combustion turbines, small wind, fuel cells, and microturbines. A detailed examination of market trends, opportunities, and dynamics within each technology segment is presented. The study encompasses a global perspective, analyzing both domestic and international factors influencing the industry, such as technological advancements, economic conditions, and regulatory frameworks. The report delves into the technical and commercial aspects of distributed energy generation, discussing regional policies, regulatory frameworks, and the Environmental, Social, and Governance (ESG) scenario for ensuring environmental sustainability. Additionally, the analysis extends to regional and country-wise markets, forecasting market segments from 2023 to 2028. The competitive landscape is explored, highlighting key market players and regional participants. Notably, the market values encompass the costs of distributed generation equipment by category (e.g., microturbines, reciprocating engines) for new and replacement systems. However, appurtenances, installation costs, and engineering/design expenses are excluded from the market values. The currency used throughout the report is USD, with conversion rates provided for companies reporting revenues in other currencies.

Global Markets for Transformers: This comprehensive report delves into the analysis of various transformer attributes, including types, capacity ratings, phases, insulation types, mounting locations, and end-use industries, providing a detailed examination of market development globally and regionally. Major countries such as the U.S., China, Germany, India, and others are spotlighted for their lucrative transformer opportunities. The report adopts a user-friendly format, incorporating tables and figures to illustrate historical, current, and future market scenarios. Coverage extends to leading companies, offering insights into product types, business footprint, revenue, and more, while also including a list of other global and regional market players. A notable feature is the inclusion of a patent analysis, identifying significant investment areas for investors in the transformer market. The report accounts for the impacts of COVID-19 and the Russia–Ukraine war on both global and regional markets. Using 2021 as the base year, estimated values for 2022 are provided, with market forecasts extending from 2022 to 2027. All market values are presented in millions of dollars, with market shares and Compound Annual Growth Rates (CAGRs) expressed in percentages.

Directly Purchase a copy of the report with BCC Research.

For further information or to make a purchase, please get in touch with info@bccresearch.com .  

About BCC Research

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts’ goal is to help you make informed business decisions, free of noise and hype.

Contact Us
Corporate HQ: BCC Research LLC, 49 Walnut Park, Building 2, Wellesley, MA 02481, USA
Email: info@bccresearch.com,
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com  or visit our media page for access to our market research library.
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. 

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Sandbox VR Expands in Miami Area with Second Location at The Falls, Opening October 30

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Sandbox VR brings the ‘best virtual reality experience on the planet’ to The Falls

MIAMI, Oct. 27, 2026 /PRNewswire/ — Sandbox VR, the world’s premier venue for virtual reality experiences, will open its second location in the Greater Miami area on October 30 at The Falls. The more than 4,100-square-foot venue at 8888 SW 136th Street, Unit 407A, will be operated by Immersa Entertainment LLC and franchise operators Carolina Brost and William Santiago. Guests who book online by October 29 can save 25% on tickets at https://sandboxvr.com/miami/the-falls.

Sandbox VR Opens October 30 at The Falls in Greater Miami: Celebrate with 25% Off When You Book by October 29

The Falls is a 55-acre open-air shopping, dining and entertainment destination in South Florida. Sandbox VR’s new venue includes four private holodecks where groups of up to six guests suit up with headsets, haptic vests, and motion trackers for full-body immersion. The technology allows players to see and physically interact with one another, creating the feeling of living inside the action together. After each session, guests receive personalized highlight videos to relive and share their adventure.

“As local business owners, we believe entertainment should be more than just an activity – it should be an opportunity to bring people together, create lasting memories, and strengthen our community. Opening our second entertainment venue with a franchise of Sandbox VR is an exciting next chapter in our commitment to delivering exceptional experiences. Our priority has always been to provide a safe, fun, and welcoming environment where families, friends, and colleagues can enjoy innovative, high-quality entertainment. We are proud to bring this world-class immersive experience to The Falls and look forward to continuing to serve the South Florida community that has supported us throughout our journey,” said Carolina Brost and William Santiago, Owners, Sandbox VR The Falls.

Sandbox VR operates both corporate-owned locations and a robust franchise program, and recently hit $300M in lifetime sales while scaling to 100 global locations across five continents and 13 countries since launching in 2016. The company is redefining group entertainment with immersive experiences that transform any outing into lasting memories. Built by a team of veteran developers from EA, Sony, and Ubisoft, Sandbox VR delivers full-body immersion through exclusive content and original experiences, including the recently launched Stranger Things: Catalyst, in collaboration with Netflix, and the new Age of Dinosaurs experience in partnership with the Natural History Museum of London and leading dinosaur experts.

Sandbox VR provides an unparalleled entertainment experience with over 250,000 five-star reviews from guests worldwide. With over 6 million lifetime tickets sold across five continents, the company has established itself as the global leader in location-based virtual reality. Sandbox VR is backed by Andreessen Horowitz, Alibaba Entrepreneurs Fund, Gobi Partners, Craft, and Stanford University, along with individuals such as Kevin Durant, Justin Timberlake, and Katy Perry.

To learn more or book an experience at Sandbox VR The Falls, visit https://sandboxvr.com/miami/the-falls.

ABOUT SANDBOX VR
Sandbox VR is the world’s premier destination for location-based virtual reality experiences. Operating across 100 venues around the globe through a franchise and corporate-owned model, Sandbox VR attracts over 150,000 guests each month. Sandbox VR gives guests the opportunity to step out of everyday reality into unforgettable adventures through group-play immersive experiences. Using a proprietary full-body VR platform, the company develops original and licensed content, including exclusive experiences like Stranger Things: Catalyst and Squid Game Virtuals in collaboration with Netflix, and the Sandbox VR original Deadwood series. With over 6 million tickets sold worldwide, Sandbox VR has become a leader in immersive entertainment, combining premium technology with emotionally engaging storytelling. Recognized as one of Fast Company’s Most Innovative Companies and a two-time honoree on the Inc. 5000 list of America’s fastest-growing private companies, Sandbox VR is headquartered in San Francisco with offices in Hong Kong and Vancouver. The company has raised over $70 million from investors, including Andreessen Horowitz, Alibaba Entrepreneurs Fund, Gobi Partners and Craft, with individual backers including Justin Timberlake, Kevin Durant, and Will Smith.

Media Contact:
Carolina Brost, Owner
Immersa Entertainment LLC
dba Sandbox VR The Falls
(786) 530-2020
sandboxvr.thefalls@gmail.com

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10x Genomics to Participate in the 2026 Jefferies Global Healthcare Conference

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PLEASANTON, Calif., Oct. 27, 2026 /PRNewswire/ — 10x Genomics, Inc. (Nasdaq: TXG), the life science technology leader focused on accelerating science and advancing human health, announced today that members of its management team will participate in a fireside chat at the 2026 Jefferies Global Healthcare Conference in London on Tuesday, November 17, at 4:30 p.m. Greenwich Mean Time.

Interested parties may access a live webcast of the fireside chat on the “Investors” section of the company’s website at: https://investors.10xgenomics.com/. The webcast will be archived and available for replay for at least 30 days after the event.

About 10x Genomics

10x Genomics is a life science technology company building products to accelerate the mastery of biology and advance human health. Our integrated research solutions include instruments, consumables and software for single cell and spatial biology, which help academic and translational researchers and biopharmaceutical companies understand biological systems at a resolution and scale that matches the complexity of biology. Our products are behind breakthroughs in oncology, immunology, neuroscience and more, fueling powerful discoveries that are transforming the world’s understanding of health and disease. To learn more, visit 10xgenomics.com or connect with us on LinkedIn, X, Facebook, Bluesky or YouTube. 

Disclosure Information

10x Genomics uses filings with the Securities and Exchange Commission, our website (www.10xgenomics.com), press releases, public conference calls, public webcasts and our social media accounts as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.

Contacts

Investors: investors@10xgenomics.com

Media: media@10xgenomics.com

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Ultra Clean Reports Third Quarter 2026 Financial Results

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HAYWARD, Calif., Oct. 27, 2026 /PRNewswire/ — Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the third quarter ended September 25, 2026.

Highlights for the Third Quarter 2026 were as follows:

Record revenue of $759 million, up 18% compared to Q2 2026 and up 49% compared to Q3 2025.GAAP gross margin of 16.9% and non-GAAP gross margin of 17.3%.GAAP EPS of $0.85 and non-GAAP EPS of $1.15.

“UCT delivered another strong quarter of growth and solid operational performance, as we responded with speed and agility to scale production and meet accelerating customer demand,” said James Xiao, CEO. “We are positioning UCT to capture more value from this next phase of AI-driven industry expansion by co-innovating with our customers, developing more advanced solutions, and executing with focus and discipline. Through UCT 3.0, we are building a more agile and efficient company that is well positioned to anticipate customer needs, accelerate innovation, and translate industry growth into lasting shareholder value.”

Third Quarter 2026 GAAP Financial Results
Total revenue was $759.0 million. Products contributed $681.9 million and Services added $77.1 million. Total gross margin was 16.9%, operating margin was 7.1%, and net income was $39.1 million or $0.85 per diluted share. This compares to total revenue of $644.9 million, gross margin of 16.1%, operating margin of 4.6%, and net income of $8.7 million or $0.19 per diluted share, in the prior quarter.

Third Quarter 2026 Non-GAAP Financial Results
On a non-GAAP basis, gross margin was 17.3%, operating margin was 9.0%, and net income was $53.2 million or $1.15 per diluted share. This compares to gross margin of 16.7%, operating margin of 7.0%, and net income of $32.3 million or $0.70 per diluted share, in the prior quarter.

Fourth Quarter 2026 Outlook
The Company expects revenue in the range of $800 million to $860 million. The Company expects GAAP diluted net income per share to be between $1.02 and $1.26, and non-GAAP diluted net income per share to be between $1.11 and $1.35.

Conference Call
The call will take place at 1:45 p.m. PT and can be accessed by dialing 1-800-836-8184 or 1-646-357-8785. No passcode is required. A replay of the call will be available by dialing 1-888-660-6345 or 1-646-517-4150 and entering the confirmation code 33664#. The Webcast will be available on the Investor Relations section of the Company’s website at http://uct.com/investors/events/.

About Ultra Clean Holdings, Inc. 
Ultra Clean Holdings, Inc. is a leading developer and supplier of critical subsystems, components, parts, and ultra-high purity cleaning and analytical services, primarily for the semiconductor industry. Under its Products division, UCT offers its customers an integrated outsourced solution for major subassemblies, improved design-to-delivery cycle times, design for manufacturability, prototyping, and high-precision manufacturing. Under its Services Division, UCT offers its customers tool chamber parts cleaning and coating, as well as micro-contamination analytical services. Ultra Clean is headquartered in Hayward, California. Additional information is available at www.uct.com.

Use of Non-GAAP Measures
In addition to providing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”), management uses non-GAAP gross margin, non-GAAP operating margin and non-GAAP net income to evaluate the Company’s operating and financial results. We believe the presentation of non-GAAP results is useful to investors for analyzing our core business and business trends and comparing performance to prior periods, along with enhancing investors’ ability to view the Company’s results from management’s perspective. The presentation of this additional information should not be considered a substitute for results prepared in accordance with GAAP. Tables presenting reconciliations from GAAP results to non-GAAP results are included at the end of this press release.

The Company defines non-GAAP net income as net loss before amortization of intangible assets, stock-based compensation, restructuring charges, debt refinancing costs, legal-related costs, unrealized loss (gain) on foreign exchange, VAT settlement, and the tax effects of the foregoing adjustments.

A reconciliation of our guidance for non-GAAP net income per diluted share for the subsequent quarter is not available due to fluctuations in the geographic mix of our earnings from quarter to quarter, which impacts our tax rate and cannot be reasonably predicted or determined. As a result, such reconciliation is not available without unreasonable efforts and we are unable to determine the probable significance of the unavailable information.

Safe Harbor Statement 
The foregoing information contains, or may be deemed to contain, “forward-looking statements” (as defined in the US Private Securities Litigation Reform Act of 1995) which reflect our current views with respect to future events and financial performance. We use words such as “anticipates,” “projection,” “outlook,” “forecast,” “believes,” “plan,” “expect,” “future,” “intends,” “may,” “will,” “estimates,” “see,” “predicts,” “should” and similar expressions to identify these forward-looking statements. Forward looking statements included in this press release include our expectations about the semiconductor capital equipment market and outlook. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, the Company’s actual results may differ materially from the results predicted or implied by these forward-looking statements. These risks, uncertainties and other factors also include, among others, those identified in “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in our annual report on Form 10-K for the year ended December 26, 2025, as filed with the Securities and Exchange Commission. Ultra Clean Holdings, Inc. undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise unless required by law.

Contact:
Rhonda Bennetto
SVP Investor Relations
rbennetto@uct.com

 

 ULTRA CLEAN HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited; in millions, except per share data)

Three Months Ended

Nine Months Ended

September 25, 2026

September 26, 2025

September 25, 2026

September 26, 2025

Revenues:

Products

$           681.9

$           445.0

$        1,720.3

$        1,356.9

Services

77.1

65.0

217.3

190.4

Total revenues

759.0

510.0

1,937.6

1,547.3

Cost of revenues:

Products

575.7

380.4

1,465.2

1,163.9

Services

54.9

47.4

155.9

137.8

Total cost of revenues

630.6

427.8

1,621.1

1,301.7

Gross profit

128.4

82.2

316.5

245.6

Operating expenses:

Research and development

8.8

7.8

26.1

23.2

Sales and marketing

15.9

15.1

47.8

45.5

General and administrative

50.0

48.7

148.1

144.1

Impairment of goodwill

—

—

—

151.1

Total operating expenses

74.7

71.6

222.0

363.9

Income (loss) from operations

53.7

10.6

94.5

(118.3)

Interest income

1.4

1.1

3.8

3.0

Interest expense

(1.5)

(9.9)

(9.8)

(29.9)

Other expense, net

(2.5)

(1.2)

(3.2)

(2.5)

Income (loss) before provision for income taxes

51.1

0.6

85.3

(147.7)

Provision for income taxes

10.3

8.7

47.5

23.3

Net income (loss)

40.8

(8.1)

37.8

(171.0)

Less: Net income attributable to noncontrolling interests

1.7

2.8

7.9

6.9

Net income (loss) attributable to UCT

$             39.1

$           (10.9)

$             29.9

$         (177.9)

Net income (loss) per share attributable to UCT common stockholders:

Basic

$             0.86

$           (0.24)

$             0.66

$           (3.93)

Diluted

$             0.85

$           (0.24)

$             0.65

$           (3.93)

Shares used in computing net income (loss) per share:

Basic

45.4

45.4

45.3

45.2

Diluted

46.2

45.4

46.2

45.2

 

ULTRA CLEAN HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited; in millions)

September 25,
2026

December 26,
2025

ASSETS

Current assets:

Cash and cash equivalents

$                       270,9

$                      311,8

Accounts receivable, net of allowance for credit losses

272,4

208,8

Inventories

723,3

390,9

Prepaid expenses and other current assets

67,6

48,2

Total current assets

1 334,2

959,7

Property, plant and equipment, net

344,4

324,6

Goodwill

114,2

114,2

Intangible assets, net

136,4

156,8

Deferred tax assets, net

4,1

3,5

Operating lease right-of-use assets

156,3

157,2

Other non-current assets

14,8

13,0

Total assets

$                    2 104,4

$                   1 729,0

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Current portion of long-term debt

$                           —

$                          9,9

Accounts payable

335,2

194,9

Accrued compensation and related benefits

63,3

51,1

Operating lease liabilities

22,3

20,2

Other current liabilities

57,8

24,6

Total current liabilities

478,6

300,7

Long-term debt

635,1

467,0

Deferred tax liabilities

13,7

13,8

Operating lease liabilities

152,7

156,6

Other liabilities

11,0

6,8

Total liabilities

1 291,1

944,9

Equity:

UCT stockholders’ equity:

Common stock 

0,1

0,1

Additional paid-in capital

601,6

578,7

Common shares held in treasury

(88,7)

(48,4)

Retained earnings

219,1

189,2

Accumulated other comprehensive loss

(4,6)

(8,6)

Total UCT stockholders’ equity

727,5

711,0

Noncontrolling interests

85,8

73,1

Total equity

813,3

784,1

Total liabilities and equity

$                    2 104,4

$                   1 729,0

 

ULTRA CLEAN HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited; in millions)

Nine Months Ended

September 25,
2026

September 26,
2025

(In millions)

Cash flows from operating activities:

Net income (loss)

$              37.8

$           (171.0)

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

Depreciation and amortization

37.5

35.5

Amortization of intangible assets

20.4

21.2

Stock-based compensation

17.2

14.4

Amortization of debt issuance costs

2.5

2.1

Loss on extinguishment of debt

3.4

—

Loss on disposal of property, plant and equipment

1.2

0.7

Impairment of goodwill

—

151.1

Change in the fair value of financial instruments

—

(0.1)

Deferred income taxes

(0.6)

0.4

Changes in assets and liabilities:

Accounts receivable

(63.6)

41.6

Inventories

(332.4)

(1.2)

Prepaid expenses and other current assets

(16.0)

(6.3)

Other non-current assets

0.0

(1.0)

Accounts payable

131.1

(22.8)

Accrued compensation and related benefits

12.2

(0.6)

Income taxes payable

3.3

(12.1)

Operating lease right-of-use assets and operating lease liabilities

(0.9)

10.2

Other liabilities

30.2

(4.6)

Net cash provided by (used in) operating activities

(116.7)

57.5

Cash flows from investing activities:

Purchases of property, plant and equipment

(45.3)

(40.2)

Proceeds from sale of equipment

0.1

3.2

Net cash used in investing activities

(45.2)

(37.0)

Cash flows from financing activities:

Proceeds from the issuance of common stock under at-the-market offering, net of commissions and fees

34.0

—

At-the-market offering costs for the issuance of common stock

(0.1)

—

Proceeds from the issuance of convertible notes

600.0

—

Borrowings on revolving credit facility

50.0

—

Proceeds from bank borrowings

—

59.3

Extinguishment of bank borrowings

—

(59.3)

Proceeds from issuance of common stock

1.1

1.1

Payment of debt issuance costs

(17.4)

(0.6)

Repurchase of common stock

(40.0)

(3.4)

Payment for capped call transactions

(25.1)

—

Principal payments on bank borrowings

(481.5)

(18.2)

Employees’ taxes paid upon vesting of restricted stock units

(4.3)

(1.1)

Payments of dividends to a joint venture shareholder

(0.1)

(0.1)

Net cash provided by (used in) financing activities

116.6

(22.3)

Effect of exchange rate changes on cash and cash equivalents

4.4

2.0

Net increase (decrease) in cash and cash equivalents

(40.9)

0.2

Cash and cash equivalents at beginning of period

311.8

313.9

Cash and cash equivalents at end of period

$             270.9

$             314.1

 

ULTRA CLEAN HOLDINGS, INC.

REPORTABLE SEGMENTS

GAAP TO NON-GAAP RECONCILIATION 

(Unaudited; dollars in millions)

GAAP

Non-GAAP

Three Months Ended

Three Months Ended

September 25, 2026

September 25, 2026

Products

Services

Consolidated

Products

Services

Consolidated

Revenues

$           681.9

$             77.1

$           759.0

$            681.9

$              77.1

$            759.0

Gross profit

$           106.2

$             22.2

$           128.4

$            108.3

$              23.2

$            131.5

Gross margin

15.6 %

28.8 %

16.9 %

15.9 %

30.1 %

17.3 %

Income from operations

$             46.7

$              7.0

$             53.7

$              58.1

$              10.5

$              68.6

Operating margin

6.8 %

9.1 %

7.1 %

8.5 %

13.6 %

9.0 %

Three Months Ended

September 25, 2026

Products

Services

Consolidated

Reconciliation of GAAP Gross profit to Non-GAAP Gross profit (in millions)

Reported gross profit on a GAAP basis

$            106.2

$              22.2

$            128.4

Amortization of intangible assets (1)

1.3

1.0

2.3

Stock-based compensation expense (2)

0.6

—

0.6

Restructuring charges (3)

0.2

—

0.2

Non-GAAP gross profit

$            108.3

$              23.2

$            131.5

Reconciliation of GAAP Gross margin to Non-GAAP Gross margin

Reported gross margin on a GAAP basis

15.6 %

28.8 %

16.9 %

Amortization of intangible assets (1)

0.2 %

1.3 %

0.3 %

Stock-based compensation expense (2)

0.1 %

— %

0.1 %

Restructuring charges (3)

0.0 %

— %

0.0 %

Non-GAAP gross margin

15.9 %

30.1 %

17.3 %

Reconciliation of GAAP Income from operations to Non-GAAP Income from operations (in millions)

Reported income from operations on a GAAP basis

$              46.7

$                7.0

$              53.7

Amortization of intangible assets (1)

3.9

2.9

6.8

Stock-based compensation expense (2)

6.3

0.6

6.9

Restructuring charges (3)

0.6

0.0

0.6

Legal-related costs (4)

0.6

—

0.6

Non-GAAP income from operations

$              58.1

$              10.5

$              68.6

Reconciliation of GAAP Operating margin to Non-GAAP Operating margin

Reported operating margin on a GAAP basis

6.8 %

9.1 %

7.1 %

Amortization of intangible assets (1)

0.6 %

3.8 %

0.8 %

Stock-based compensation expense (2)

0.9 %

0.7 %

0.9 %

Restructuring charges (3)

0.1 %

— %

0.1 %

Legal-related costs (4)

0.1 %

— %

0.1 %

Non-GAAP operating margin

8.5 %

13.6 %

9.0 %

1

Amortization of intangible assets related to the Company’s business acquisitions                            

2

Represents compensation expense for stock granted to employees and directors                            

3

Represents costs associated with employee separation, severance, retention, and other expenses related to facility closures                            

4

Represents estimated costs related to certain legal proceedings and a cybersecurity incident

 

ULTRA CLEAN HOLDINGS, INC.

UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED RESULTS

Three Months Ended

September 25,
2026

September 26,
2025

June 26,
2026

Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income (in millions)

Reported net income (loss) attributable to UCT on a GAAP basis

$           39.1

$         (10.9)

$          8.7

Amortization of intangible assets (1)

6.8

6.9

6.8

Stock-based compensation expense (2)

6.9

4.6

8.1

Restructuring charges (3)

0.6

7.1

0.7

Debt refinancing costs expensed (4)

—

1.1

0.7

Legal-related costs (5)

0.6

0.2

—

Unrealized loss (gain) on foreign exchange (6)

2.6

(2.4)

(1.9)

VAT settlement (7)

—

(0.2)

—

Income tax effect of non-GAAP adjustments (8)

(3.5)

(4.0)

(2.9)

Income tax effect of valuation allowance (9)

0.1

8.6

12.1

Non-GAAP net income attributable to UCT

$           53.2

$           11.0

$        32.3

Reconciliation of GAAP Income from operations to Non-GAAP Income from operations (in millions)

Reported income from operations on a GAAP basis

$           53.7

$           10.6

$        29.5

Amortization of intangible assets (1)

6.8

6.9

6.8

Stock-based compensation expense (2)

6.9

4.6

8.1

Restructuring charges (3)

0.6

7.1

0.7

Legal-related costs (5)

0.6

0.2

—

VAT settlement (7)

—

(0.2)

—

Non-GAAP income from operations

$           68.6

$           29.2

$        45.1

Reconciliation of GAAP Operating margin to Non-GAAP Operating margin

Reported operating margin on a GAAP basis

7.1 %

2.1 %

4.6 %

Amortization of intangible assets (1)

0.8 %

1.3 %

1.0 %

Stock-based compensation expense (2)

0.9 %

0.9 %

1.3 %

Restructuring charges (3)

0.1 %

1.4 %

0.1 %

Legal-related costs (5)

0.1 %

0.0 %

— %

VAT settlement (7)

— %

0.0 %

— %

Non-GAAP operating margin

9.0 %

5.7 %

7.0 %

Reconciliation of GAAP Gross profit to Non-GAAP Gross profit (in millions)

Reported gross profit on a GAAP basis

$         128.4

$           82.2

$      103.7

Amortization of intangible assets (1)

2.3

2.3

2.3

Stock-based compensation expense (2)

0.6

0.5

1.5

Restructuring charges (3)

0.2

2.1

0.1

VAT settlement (7)

—

(0.2)

—

Non-GAAP gross profit

$         131.5

$           86.9

$      107.6

Reconciliation of GAAP Gross margin to Non-GAAP Gross margin

Reported gross margin on a GAAP basis

16.9 %

16.1 %

16.1 %

Amortization of intangible assets (1)

0.3 %

0.4 %

0.4 %

Stock-based compensation expense (2)

0.1 %

0.1 %

0.2 %

Restructuring charges (3)

0.0 %

0.4 %

0.0 %

VAT settlement (7)

— %

0.0 %

— %

Non-GAAP gross margin

17.3 %

17.0 %

16.7 %

Reconciliation of GAAP Other income (expense), net to Non-GAAP Other income (expense), net (in millions)

Reported Other income (expense), net on a GAAP basis

$           (2.5)

$           (1.2)

$          0.6

Debt refinancing costs expensed (4)

—

1.1

0.7

Unrealized loss (gain) on foreign exchange (6)

2.6

(2.4)

(1.9)

Non-GAAP Other income (expense), net

$            0.1

$           (2.5)

$         (0.6)

Reconciliation of GAAP Income (Loss) Per Diluted Share to Non-GAAP Earnings Per Diluted Share

Reported net income (loss) on a GAAP basis

$           0.85

$         (0.24)

$        0.19

Amortization of intangible assets (1)

0.15

0.15

0.15

Stock-based compensation expense (2)

0.15

0.10

0.18

Restructuring charges (3)

0.01

0.16

0.01

Debt refinancing costs expensed (4)

—

0.02

0.01

Legal-related costs (5)

0.01

0.00

—

Unrealized loss (gain) on foreign exchange (6)

0.06

(0.05)

(0.04)

VAT settlement (7)

—

0.00

—

Income tax effect of non-GAAP adjustments (8)

(0.08)

(0.09)

(0.06)

Income tax effect of valuation allowance (9)

0.00

0.19

0.26

Impact of dilutive shares

0.00

0.00

0.00

Non-GAAP net earnings

$           1.15

$           0.24

$        0.70

Weighted average number of diluted shares (in millions) on a non-GAAP basis (10)

46.2

45.6

46.0

ULTRA CLEAN HOLDINGS, INC.

UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP EFFECTIVE INCOME TAX RATE

Three Months Ended

September 25,
2026

September 26,
2025

June 26,
2026

Provision for income taxes on a GAAP basis

$           10.3

$            8.7

$        18.1

Income tax effect of non-GAAP adjustments (8)

3.5

4.0

2.9

Income tax effect of valuation allowance (9)

(0.1)

(8.6)

(12.1)

Non-GAAP provision for income taxes

$           13.7

$            4.1

$          8.9

Income before income taxes on a GAAP basis

$           51.1

$            0.6

$        30.0

Amortization of intangible assets (1)

6.8

6.9

6.8

Stock-based compensation expense (2)

6.9

4.6

8.1

Restructuring charges (3)

0.6

7.1

0.7

Debt refinancing costs expensed (4)

—

1.1

0.7

Legal-related costs (5)

0.6

0.2

—

Unrealized loss (gain) on foreign exchange (6)

2.6

(2.4)

(1.9)

VAT settlement (7)

—

(0.2)

—

Non-GAAP income before income taxes

$           68.6

$           17.9

$        44.4

Effective income tax rate on a GAAP basis

20.2 %

1450.0 %

60.3 %

Non-GAAP effective income tax rate

20.0 %

22.9 %

20.0 %

1    Amortization of intangible assets related to the Company’s business acquisitions

2    Represents compensation expense for stock granted to employees and directors

3    Represents costs associated with employee separation, severance, retention, and other expenses related to facility closures

4    Represents certain third party transaction costs related to the amended credit agreement and the previously capitalized costs of extinguished debt

5    Represents estimated costs related to certain legal proceedings and a cybersecurity incident

6    Represents unrealized foreign exchange gains and losses arising from the remeasurement of monetary assets and liabilities

7    Represents impact of value added tax ruling

8    Tax effect of items (1) through (7) above based on the non-GAAP tax rate

9    The Company’s GAAP tax expense is generally higher than the Company’s non-GAAP tax expense, primarily due to losses in the U.S. with full federal and state valuation allowances. The Company’s non-GAAP tax rate and resulting non-GAAP tax expense considers the tax implications as if there was no federal or state valuation allowance position in effect

10  Non-GAAP diluted weighted-average common shares are adjusted to reflect the dilutive impact of our convertible note based on the capped call cap price instead of the initial conversion price

 

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SOURCE Ultra Clean Holdings, Inc.

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