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Building stronger, more climate-resilient communities

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The Government of Canada provides $530 million to municipalities through the Green Municipal Fund to help communities adapt to climate change

OTTAWA, ON, June 3, 2024 /CNW/ – Communities across Canada need new infrastructure that is built for healthy, affordable living, economic sustainability and ensures the safety of homes and businesses in the 21st century. Making our communities more liveable in a world impacted by climate-related events including floods, storms, and wildfires means planning ahead and building more resilient roads, bridges, water treatment facilities, telecommunication, networks evacuation routes and much more.

To provide fairness for every generation, create new opportunities and launch Canadian Environment Week, the Government of Canada is accelerating adaptation support for resilient municipal infrastructure.

Today, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, along with the Honourable Harjit S. Sajjan, President of the King’s Privy Council for Canada, Minister of Emergency Preparedness, and Minister responsible for the Pacific Economic Development Agency of Canada, and Tim Tierney, Third Vice-President of the Federation of Canadian Municipalities (FCM), on behalf of FCM President Scott Pearce, announced the Local Leadership for Climate Adaptation (LLCA) initiative, through the Green Municipal Fund.

This $530-million initiative represents one of the largest ever investments in building liveable and resilient communities in preparation for climate change in Canadian history and is a key initiative under Canada’s National Adaptation Strategy.

Through collaboration with local governments, the initiative will support adaptation planning, capacity building, implementation, and financing, to help municipalities and their partners build long-term, resilient infrastructure. By 2031, the initiative will have funded more than 1,400 municipal activities.

As part of today’s announcement, the federally funded Green Municipal Fund is accepting applications through its website under the Adaptation in Action funding stream of LLCA. In all, there are three funding streams that will provide substantial support for municipalities to carry out climate adaptation projects. In addition to support for climate adaptation planning, municipalities can apply for up to $1 million for implementation projects and up to $70,000 for feasibility studies. Municipalities that have completed climate adaptation plans and/or risk assessments are eligible to apply. The deadline for applications is August 14, 2024.

The Green Municipal Fund is also introducing funding for partner-led initiatives that will enable skills development and training to help local governments build more resilient communities. Eligible partners will receive funding and support to design and deliver training programs that equip municipalities with the tools they need for proactive and equitable climate resilience planning.

While all people in Canada are at risk of climate change impacts, these risks are not shared equally. Those already facing inequities in our society, including marginalized groups, the elderly, and the people living with disabilities, are among those most likely to be impacted by severe weather events. The new climate adaptation initiative announced today will focus on advancing meaningful equity and inclusion outcomes through projects to help build stronger, more liveable, and more resilient communities all across Canada.

Quotes

“Municipalities are on the front lines of climate change, and they know best what local challenges—and solutions—are affecting local neighbourhoods, transportation, and businesses. The Federation of Canadian Municipalities and the Government of Canada partnership is helping build stronger, more liveable communities, providing safety and security in the face of a changing climate. With smart investments, forward planning, and active collaboration, we can support communities that are already feeling the impacts of climate change and help make them more sustainable and prosperous for generations to come.”
– The Honourable Steven Guilbeault, Minister of Environment and Climate Change

“Today’s announcement marks a significant step forward in empowering local governments to address climate change head-on. By funding climate adaptation initiatives, we are not only supporting communities in their efforts to become more resilient, but also contributing to building stronger, more robust infrastructure. This program ensures a sustainable future and stronger, safer communities for all Canadians.”
– The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

“Extreme weather events are increasing in frequency and severity. We are committed to helping communities build resilience to these hazards. The new LLCA initiative is a great example of the improvements in adaptation and disaster resilience we can achieve through collaboration across all levels of government.”
– The Honourable Harjit S. Sajjan, President of the King’s Privy Council for Canada, Minister of Emergency Preparedness, and Minister responsible for the Pacific Economic Development Agency of Canada

“The Federation of Canadian Municipalities’ Green Municipal Fund and the federal government are stepping up to meet the challenges of a changing climate with innovative and community-focused solutions. With the launch of the LLCA initiative, we can bring real, tangible benefits to municipalities. Imagine a new green space in your community that also serves as a flood barrier, or a local training program that empowers residents to tackle climate change head-on. From projects that support storm-resistant coastal barriers and water conservation practices, to slope stabilization for fire-impacted and permafrost-degraded areas, this initiative is a national declaration with locally felt impacts. LLCA will build resilient communities that not only anticipate future climate challenges but actively adapt to them.”
– Scott Pearce, President of the Federation of Canadian Municipalities

Quick facts

Since 1971, Canada has celebrated Canadian Environment Week in alignment with the United Nations World Environment Day, observed on June 5. This year’s theme for World Environment Day is “Generation Restoration”, focused on land restoration, halting desertification, and building drought resilience. Canadian Environment Week expands upon this theme by celebrating all of the actions that we are taking, at home and globally, to achieve a greener future.Canada’s National Adaptation Strategy lays out goals, objectives, and targets to reduce the risks associated with climate-related disasters, improve health outcomes, protect nature and biodiversity, build and maintain resilient infrastructure, and support a strong economy and workers.To support the Strategy, the Government of Canada Adaptation Action Plan outlines what the federal government is doing to prepare for climate change. It highlights over 70 actions across 22 departments and agencies to help meet Canada’s adaptation goals and address climate change risks facing Canadians.The Government of Canada has invested more than $6.6 billion in adaptation since 2015. This includes $2.1 billion in commitments since fall 2022 to implement the National Adaptation Strategy and support other adaptation-related activities.The Green Municipal Fund manages approximately $2.4 billion in programs funded by the Government of Canada to support municipal environmental priorities, including the new $530 million investment in community-based adaptation initiatives.This $530-million investment was first announced on November 24, 2022, as part of over $2 billion in new federal funding commitments to help protect communities from coast to coast to coast to prepare for climate change under the National Adaptation Strategy.

Related products

Update on federal climate change adaptation actionsLocal Leadership for Climate Adaptation: backgrounder

Associated links

Canada’s National Adaptation StrategyGovernment of Canada Adaptation Action PlanGreen Municipal FundLocal Leadership for Climate AdaptationFederation of Canadian Municipalities

Environment and Climate Change Canada’s X (Twitter) page

Environment and Climate Change Canada’s Facebook page

SOURCE Environment and Climate Change Canada

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

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

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

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

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

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

Highlights for the September 2026 quarter were as follows:

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

Key Financial Data for the Quarters Ended

September 27, 2026 and June 28, 2026

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

 

 

U.S. GAAP

September 2026

June 2026

Change Q/Q

Revenue

$       8,219,418

$       6,722,238

+22 %

Gross margin

52.3 %

51.7 %

+ 60 bps

Operating margin

40.0 %

37.4 %

+ 260 bps

Diluted EPS

$                2.19

$                1.81

+ 21 %

Non-GAAP

September 2026

June 2026

Change Q/Q

Revenue

$       8,219,418

$       6,722,238

+22 %

Gross margin

52.4 %

52.0 %

+ 40 bps

Operating margin

40.2 %

38.4 %

+ 180 bps

Diluted EPS

$                2.20

$                1.82

+ 21 %

U.S. GAAP Financial Results

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

Non-GAAP Financial Results

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

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

Balance Sheet and Cash Flow Results

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

Deferred revenue at the end of the September 2026 quarter increased to $2.66 billion compared to $2.43 billion as of the end of the June 2026 quarter. Lam’s deferred revenue balance does not include shipments to customers in Japan, to whom control does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $468.3 million as of September 27, 2026 and $490.2 million as of June 28, 2026.

Revenue

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

Region

Revenue

China

35 %

Korea

20 %

Taiwan

18 %

Japan

9 %

United States

8 %

Southeast Asia

6 %

Europe

4 %

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

Three Months Ended

September 27,
2026

June 28,
2026

September 28,
2025

(in thousands)

Systems revenue

$         5,732,907

$         4,249,848

$         3,547,565

Customer support-related revenue and other

2,486,511

2,472,390

1,776,608

$         8,219,418

$         6,722,238

$         5,324,173

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

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

Outlook

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

U.S. GAAP

Reconciling Items

Non-GAAP

Revenue

$8.60 Billion

+/-

$400 Million

—

$8.60 Billion

+/-

$400 Million

Gross margin

52.5 %

+/-

1 %

$  2.7

Million

52.5 %

+/-

1 %

Operating margin

40.5 %

+/-

1 %

$  3.0

Million

40.5 %

+/-

1 %

Net income per diluted share

$2.33

+/-

$0.15

$  3.3

Million

$2.33

+/-

$0.15

Diluted share count

1.253 Billion

—

1.253 Billion

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

Gross margin – amortization related to intangible assets acquired through certain business combinations, $2.7 million.Operating margin – amortization related to intangible assets acquired through certain business combinations, $3.0 million.Net income per diluted share – amortization related to intangible assets acquired through certain business combinations, $3.0 million; amortization of note discounts, $0.5 million; and associated tax benefit for non-GAAP items ($0.2 million); totaling $3.3 million.

Use of Non-GAAP Financial Results

In addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company’s non-GAAP results for both the September 2026 and June 2026 quarters exclude amortization related to intangible assets acquired through certain business combinations, the effects of elective deferred compensation-related assets and liabilities, amortization of note discounts, and the net income tax effect of non-GAAP items. The September 2026 quarter also excludes the net income tax effect of a change in tax law, and the June 2026 quarter excludes workforce optimization charges and the related income tax effect.

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

Caution Regarding Forward-Looking Statements

Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning: our outlook and guidance for future financial results, including revenue, gross margin, operating margin, net income per diluted share, and diluted share count; AI-driven semiconductor demand and device complexity; our focus on operational execution; the perceived benefits of our strategic investments; our ability to outgrow the wafer fabrication equipment market as the industry expands; and deferred revenue. These statements are not a guarantee of future performance and involve a number of risks, uncertainties, and other factors that could cause our actual results or outcomes, or the timing of our results or outcomes, to differ materially from those expressed or implied in this press release. Such risks, uncertainties, and other factors include: our assumptions related to continued expansion of the wafer fabrication equipment market, growth of deposition and etch intensity, and scaling of our operations may prove invalid; business, economic, political, and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy, including wafer fabrication equipment spending or demand related to AI, may deteriorate or change; the actions, performance, or investment levels of our customers and competitors may be inconsistent with our expectations; customer and product mix, including across market segments and geographical regions, may change; we may be unable to realize the value of our products and technology, successfully commercialize new products and technologies, implement pricing initiatives, or execute on perceived opportunities; we may be unable to achieve anticipated operational, manufacturing, supply chain, procurement, and scale efficiencies; customer technology transitions, capacity expansions, and fab construction projects may have different timing or be less successful than we expect; we may be unable to manage operating expenses effectively while continuing to invest in research and development, product innovation, customer support, and future growth opportunities; trade regulations, export controls (including entity listings, end use/user controls, technology controls, and foreign direct product rules), tariffs, trade disputes, and other geopolitical developments may inhibit our ability to sell our products or services; supply chain cost increases, tariffs, and other inflationary pressures may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the “Risk Factors” described in our most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. You should evaluate all forward-looking statements made in this press release in the context of these risks, uncertainties, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based on our current beliefs, expectations, and assumptions about future events. Except as required by law, we undertake no obligation to update the information or statements made in this press release.

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

Condensed Consolidated Financial Tables Follow.

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data and percentages)

(unaudited) 

 

Three Months Ended

September 27,
2026

June 28,
2026

September 28,
2025

Revenue

$ 8,219,418

$ 6,722,238

$ 5,324,173

Cost of goods sold

3,920,565

3,243,498

2,639,294

Gross margin

4,298,853

3,478,740

2,684,879

Gross margin as a percent of revenue

52.3 %

51.7 %

50.4 %

Research and development

666,398

642,922

576,446

Selling, general and administrative

348,728

322,330

279,345

Total operating expenses

1,015,126

965,252

855,791

Operating income

3,283,727

2,513,488

1,829,088

Operating margin

40.0 %

37.4 %

34.4 %

Other income (expense), net

28,493

41,654

30,074

Income before income taxes

3,312,220

2,555,142

1,859,162

Income tax expense

(559,082)

(277,860)

(290,502)

Net income

$ 2,753,138

$ 2,277,282

$ 1,568,660

Net income per share:

Basic

$        2.20

$        1.82

$        1.24

Diluted

$        2.19

$        1.81

$        1.24

Number of shares used in per share calculations:

Basic

1,250,883

1,251,286

1,264,446

Diluted

1,255,768

1,256,032

1,269,313

Cash dividend declared per common share

$        0.33

$        0.26

$        0.26

 

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

 

September 27,
2026

June 28,
2026

September 28,
2025

(unaudited)

(1)

(unaudited)

ASSETS

Cash and cash equivalents

$      7,437,384

$      5,579,171

$      6,693,046

Accounts receivable, net

5,658,379

5,339,682

3,633,034

Inventories

4,550,544

4,276,111

4,095,054

Prepaid expenses and other current assets

477,805

415,741

385,580

Total current assets

18,124,112

15,610,705

14,806,714

Property and equipment, net

3,126,029

2,956,472

2,510,531

Goodwill and intangible assets

1,911,547

1,895,859

1,826,950

Other assets

3,191,368

3,066,707

2,756,016

Total assets

$    26,353,056

$    23,529,743

$    21,900,211

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current portion of long-term debt and finance lease obligations

$           3,486

$           4,073

$        754,363

Other current liabilities

7,309,013

5,933,176

5,953,547

Total current liabilities

7,312,499

5,937,249

6,707,910

Long-term debt and finance lease obligations

3,731,958

3,730,490

3,729,580

Income taxes payable

684,273

681,197

646,044

Other long-term liabilities

715,852

709,886

623,925

Total liabilities

12,444,582

11,058,822

11,707,459

Stockholders’ equity (2)

13,908,474

12,470,921

10,192,752

Total liabilities and stockholders’ equity

$    26,353,056

$    23,529,743

$    21,900,211

(1)

Derived from audited financial statements.

(2)

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

 

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

 

Three Months Ended

September 27,
2026

June 28,
2026

September 28,
2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$     2,753,138

$     2,277,282

$     1,568,660

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

Depreciation and amortization

122,072

119,642

101,644

Deferred income taxes

(55,300)

(175,752)

(62,875)

Equity-based compensation expense

114,696

103,985

97,241

Other, net

27,633

(8,006)

(1,890)

Changes in operating assets and liabilities

535,413

(859,923)

76,184

Net cash provided by operating activities

3,497,652

1,457,228

1,778,964

CASH FLOWS FROM INVESTING ACTIVITIES:

Capital expenditures and intangible assets

(257,697)

(188,801)

(185,121)

Other, net

(9,292)

45,060

(927)

Net cash used for investing activities

(266,989)

(143,741)

(186,048)

CASH FLOWS FROM FINANCING ACTIVITIES:

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

(34,489)

(1,355)

(1,417)

Treasury stock purchases, including excise tax payments

(1,024,965)

(246,560)

(975,791)

Dividends paid

(325,402)

(325,318)

(291,981)

Reissuance of treasury stock related to employee stock purchase plan

—

88,780

—

Proceeds from issuance of common stock, net of issuance costs

4,263

4,426

—

Other, net

(1,786)

(282)

(12,449)

Net cash used for financing activities

(1,382,379)

(480,309)

(1,281,638)

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

4,663

(2,056)

(7,059)

Net change in cash, cash equivalents, and restricted cash

1,852,947

831,122

304,219

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

5,597,943

4,766,821

6,407,656

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

$     7,450,890

$     5,597,943

$     6,711,875

(1)

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

 

Non-GAAP Financial Summary

(in thousands, except percentages and per share data)

(unaudited)

 

Three Months Ended

September 27,
2026

June 28,
2026

Revenue

$     8,219,418

$     6,722,238

Gross margin

$     4,305,019

$     3,497,336

Gross margin as a percent of revenue

52.4 %

52.0 %

Operating expenses

$     1,004,280

$        916,420

Operating income

$     3,300,739

$     2,580,916

Operating margin

40.2 %

38.4 %

Net income

$     2,768,417

$     2,279,968

Net income per diluted share

$              2.20

$              1.82

Shares used in per share calculation – diluted

1,255,768

1,256,032

 

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

(in thousands, except per share data)

(unaudited) 

 

Three Months Ended

September 27,
2026

June 28,
2026

U.S. GAAP net income

$       2,753,138

$       2,277,282

Pre-tax non-GAAP items:

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

2,668

2,668

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

3,498

15,379

Workforce optimization charges – cost of goods sold

—

549

EDC related liability valuation increase – research and development

6,299

27,682

Workforce optimization charges – research and development

—

960

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

348

348

EDC related liability valuation increase – selling, general and administrative

4,199

18,454

Workforce optimization charges – selling, general and administrative

—

1,388

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

508

504

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

(12,870)

(61,325)

Net income tax benefit on non-GAAP items

(825)

(3,921)

Income tax expense from a change in tax law

11,454

—

Non-GAAP net income

$       2,768,417

$       2,279,968

Non-GAAP net income per diluted share

$                2.20

$                1.82

U.S. GAAP net income per diluted share

$                2.19

$                1.81

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

1,255,768

1,256,032

 

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

(in thousands, except percentages)

(unaudited) 

 

Three Months Ended

September 27,
2026

June 28,
2026

U.S. GAAP gross margin

$     4,298,853

$     3,478,740

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

2,668

2,668

EDC related liability valuation increase

3,498

15,379

Workforce optimization charges

—

549

Non-GAAP gross margin

$     4,305,019

$     3,497,336

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

52.3 %

51.7 %

Non-GAAP gross margin as a percent of revenue

52.4 %

52.0 %

U.S. GAAP operating expenses

$     1,015,126

$        965,252

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

(348)

(348)

EDC related liability valuation increase

(10,498)

(46,136)

Workforce optimization charges

—

(2,348)

Non-GAAP operating expenses

$     1,004,280

$        916,420

U.S. GAAP operating income

$     3,283,727

$     2,513,488

Non-GAAP operating income

$     3,300,739

$     2,580,916

U.S. GAAP operating margin

40.0 %

37.4 %

Non-GAAP operating margin

40.2 %

38.4 %

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

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

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

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

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

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

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

About Sera Prognostics, Inc.

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

About Preterm Birth

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

About the PreTRM® Test

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

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

Safe Harbor Statement

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

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

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.

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