Achieved record Q2 2026 revenue of $258.2M, up 14.2% sequentially and 31.9% year-over-year, with gross margin at 53.3% and non-GAAP EPS at $0.82, all exceeding outlook ranges.
Growth driven by high-performance compute, advanced packaging, and broad-based demand in DRAM, Foundry & Logic, and Systems segments.
EPS tripled over the past four quarters, with significant margin expansion and robust cash flow.
Expanded partnership with Keystone Microtech in Taiwan, enhancing regional assembly and service capabilities.
Farmers Branch site on track to ramp in Q4 2026, supporting future growth and lower-cost capacity.
Q2 2026 revenue: $258.2M, up $32.1M (14%) sequentially and above outlook midpoint.
Non-GAAP gross margin: 53.3%, up 430 bps sequentially and nearly 15 percentage points year-over-year.
Non-GAAP net income: $65.0M ($0.82 per diluted share); GAAP net income: $56.2M ($0.71 per share).
Free cash flow: $52.6M, up from $30.7M in Q1; cash and investments at $349M.
Operating income rose to $57.8M in Q2 2026 from $16.6M in Q1 2026.
Q3 2026 revenue expected at $270M ± $10M; non-GAAP gross margin at 54% ± 1.5%; non-GAAP EPS at $0.86 ± $0.09.
Q3 2026 GAAP gross margin expected at 52% ± 1.5%; GAAP EPS at $0.75 ± $0.09.
Farmers Branch ramp to continue through 2027, with gross margin accretion expected by 2028.
Target model aims to double revenue to $1.6B and more than double EPS by 2030.
Management expects continued strong demand, especially in Foundry & Logic and Systems.
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