Technology
Crédit Mutuel Alliance Fédérale accelerates deployment of generative AI in collaboration with IBM
Published
2 years agoon
By
STRASBOURG, France and ARMONK, N.Y., June 27, 2024 /PRNewswire/ — Crédit Mutuel Alliance Fédérale, a pioneer in the adoption of Artificial Intelligence (AI) since 2016, invests in cutting-edge technologies. Used every day by its 25,000 advisors, AI freed up nearly 1 million hours of administrative work in 2023 to enable them to continue to best serve their members and clients.
Operating as a sovereign technology bank, Crédit Mutuel Alliance Fédérale stands out for its ability to carry out almost all of this IT processing in its own datacenters — an approach underpinned by the historic collaboration established between the teams of Euro-Information, the mutualist group’s technology subsidiary, and IBM (NYSE: IBM).
To maintain its lead in artificial intelligence, Crédit Mutuel Alliance Fédérale and Euro-Information are expanding their long-term collaboration with IBM via its IBM watsonx platform — an AI and data platform designed to help businesses develop responsible AI — deployed on Credit Mutuel’s in-house computing infrastructure. This collaboration will make it possible to accelerate and industrialize the deployment of generative AI.
Crédit Mutuel Alliance Fédérale plans to rely on in-house developments and on watsonx to progressively deploy thirty-five AI use cases in Crédit Mutuel and CIC networks, with planned availability for the first set this summer. The mutualist group is also testing the InstructLab technique, jointly developed by IBM and Red Hat, to allow it to design models specific to its field of activity using its own data.
“For the past eight years, the success of our collaboration with IBM in artificial intelligence technologies has demonstrated the relevance of our strategy combining mutualist commitment and innovation. With watsonx, the Euro-Information and IBM teams gathered within the Cognitive Factory are working on the industrialization of 35 new use cases to enable our banking advisors to always offer the best possible services to our customers and members,” indicates Éric Petitgand, Chief Executive Officer of Crédit Mutuel Alliance Fédérale.
“Because banking is a technological business, it is essential to constantly innovate in order to master the technologies of the future. Our collaboration with IBM is all the more strategic as the InstructLab technique will enable us to adapt generative AI to our pioneering commitments to ethical and trustworthy AI that meets the specific needs of our company,” says Frantz Rublé, President of Euro-Information.
“We are delighted to expand our collaboration with Crédit Mutuel Alliance Fédérale. watsonx will allow them to bring cutting-edge generative AI capabilities to improve the customer experience,” adds Sébastian Krause, SVP IBM Corporation.
“Our strategic collaboration with the Crédit Mutuel Group and Euro-Information is thus further strengthened around three pillars: technological innovation, acceleration of transformation, and talent development,” concludes Jean-Philippe Desbiolles, IBM Managing Director for Crédit Mutuel Alliance Fédérale.
Generative AI for enhanced customer relations with the dedicated local advisor
Crédit Mutuel Alliance Fédérale has relied since its creation on technology to best serve its customers and members. In collaboration with IBM Consulting, Euro-Information’s Cognitive Factory has already massively deployed several cutting-edge artificial intelligence solutions, including for customer experience, risk management and compliance, support for account managers and document understanding.
Building on its know-how, Euro-Information will develop 35 AI use cases on an industrial scale, relying on in-house developments and on watsonx. Three initial generative AI solutions are expected to be deployed in the third quarter, enabling advisors to respond even more efficiently to the needs of their customers and members. In addition to MonIA, a broad catalog of AI-based services (document synthesis, transcription of appointments, etc.), they could benefit from templates for replying to customer emails, as well as an AI assistant providing personalized responses to help them with their assignments. A fourth pilot will support the Group’s IT development employees.
Managing the value chain for building ethical and trustworthy AI
Crédit Mutuel Alliance Fédérale, via the Chambre Syndicale et Interfédérale – its parliament made up of elected members and employees – has adopted a charter for trustworthy AI. This charter sets out commitments that govern the use of AI. IBM’s watsonx.governance will help Euro-Information implement them.
In this context, the governance of the mutualist group places AI at the service of human beings: elected representatives, employees, members and customers. It ensures strict respect for digital privacy. Bringing transparent and documented use of AI, it favors the most sober technological solutions and ensures that the principle of pooling banking and insurance offers is perpetuated to guarantee the interests of members and customers.
These collective choices are made possible because Crédit Mutuel Alliance Fédérale operates as a sovereign industrial bank. In this respect, almost all IT processing is carried out on its own datacenters located in France and Europe, using software over which it has full control.
Press Contacts
Crédit Mutuel Alliance Fédérale: Aziz Ridouan – +33 (0)6 01 10 31 69 – aziz.ridouan@creditmutuel.fr
IBM: Gaëlle Dussutour – +33 (0)6 74 98 26 92 – dusga@fr.ibm.com
About IBM
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.
Visit ibm.com for more information.
About Euro-Information
Euro-Information is the technology subsidiary of Crédit Mutuel. Euro-Information manages the IT systems of 16 federations of the Crédit Mutuel group as well as those of CIC and of all the financial, insurance, property, consumer credit, private banking, financing, telephony and technological subsidiaries.
With a headcount of almost 4 000, Euro-Information offers cutting-edge technology to employees and banking customers alike, backed up by a high level of security and personal data protection. Euro-Information has in-house expertise in all technologies and carries out the developments necessary for the entities of the Crédit Mutuel group.
For more information e-i.com
About Crédit Mutuel Alliance Fédérale
One of France’s leading bankinsurers, with 77,000 employees serving more than 31 million customers, Crédit Mutuel Alliance Fédérale’s more than 4,300 branches offer a diversified range of services to private individuals, local professionals and companies of all sizes.
Crédit Mutuel Alliance Fédérale, first French banking group to have adopted the status of mission-driven company, is made up of the following Crédit Mutuel federations: Centre Est Europe (Strasbourg), Sud-Est (Lyon), Île-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique et Centre-Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand), Antilles-Guyane (Fort-de-France) and Nord Europe (Lille).
Crédit Mutuel Alliance Fédérale also includes Caisse Fédérale de Crédit Mutuel, Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries, in particular CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), Targobank in Germany, Cofidis, Beobank in Belgium, Banque Européenne du Crédit Mutuel (BECM), Banque Transatlantique, Banque de Luxembourg, and Homiris.
Find more information at http://www.creditmutuelalliancefederale.fr/en/
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Improve Cell Line Stability From Cloning to GMP Manufacturing, Upcoming Webinar Hosted by Xtalks
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October 21, 2026By
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
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Technology
Lam Research Corporation Reports Financial Results for the Quarter Ended September 27, 2026
Published
23 minutes agoon
October 21, 2026By
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
Technology
SERA PROGNOSTICS ANNOUNCES CONFERENCE CALL AND WEBCAST OF THIRD QUARTER FISCAL YEAR 2026 FINANCIAL RESULTS ON NOVEMBER 4, 2026
Published
23 minutes agoon
October 21, 2026By
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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Lam Research Corporation Reports Financial Results for the Quarter Ended September 27, 2026
SERA PROGNOSTICS ANNOUNCES CONFERENCE CALL AND WEBCAST OF THIRD QUARTER FISCAL YEAR 2026 FINANCIAL RESULTS ON NOVEMBER 4, 2026
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