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KLA
KLA (KLAC) investor relations material
KLA Q1 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2027 earnings summary28 Oct, 2026
Executive summary
Q1 FY27 revenue was $4.136B, up 29% YoY and 13% QoQ; GAAP diluted EPS was $1.18 and non-GAAP diluted EPS was $1.22, exceeding guidance midpoints.
AI infrastructure demand, leading-edge process-control intensity, memory complexity and advanced packaging supported performance; growing backlog and sales visibility underpin confidence in significant 2027 growth.
Financial highlights
GAAP net income was $1.549B and non-GAAP net income was $1.603B.
GAAP gross margin was 61.9% and non-GAAP gross margin was 62.7%; GAAP operating margin was 45.0% and non-GAAP operating margin was 46.1%.
Operating cash flow was $1.531B and free cash flow was $1.336B; LTM totals were $4.512B and $4.038B, respectively.
Operating expenses were $688M, including $395M R&D and $293M SG&A.
Outlook and guidance
Q2 FY27 revenue guidance is $4.7B ± $200M; GAAP and non-GAAP diluted EPS guidance is $1.41 ± $0.11 and $1.44 ± $0.11, respectively.
Q2 non-GAAP gross margin guidance is 62.5% ± 1 percentage point; GAAP gross margin guidance is 61.8% ± 1 percentage point. Operating expenses are expected at ~$710M; planning tax rate is 14.5%.
H2 2026 revenue is expected to rise ~25% over H1; sequential growth is expected for the next several quarters, with a more linear 2027 pattern than the H2 step-up.
Wafer equipment market outlook is in the mid-$150B range in 2026 and above $200B in 2027; significant growth is expected through 2027.
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Latest events from KLA
- Annual meeting to vote on directors, auditor ratification, and executive compensation.KLAC
Proxy filing - Strong FY26 results, board refreshment, and ESG progress highlighted; all proposals recommended.KLACProxy filing
- Multi-year growth, AI-driven efficiency, and advanced packaging boost market share and industry relevance.KLACGoldman Sachs Communacopia + Technology Conference 2026
- Rising WFE demand, advanced packaging gains, and AI-driven tools fuel growth and margin targets.KLACCiti’s 2026 Global TMT Conference
- Q4 revenue up 15% y/y, strong margins, robust outlook, and 10-for-1 stock split.KLACQ4 2026
- Services revenue exceeds $2.5B with 12-14% CAGR, driven by multi-year contracts and innovation.KLACInvestor presentation
- Advanced packaging and AI-driven process control intensity fuel growth and shareholder returns.KLACGoldman Sachs Communicopia + Technology Conference 2025
- Advanced packaging, leading-edge investments, and service growth drive strong performance and outlook.KLACThe Citigroup Global TMT Conference 2024
- Q4 FY24 revenue rose 9% to $2.57B, with strong margins and positive outlook into 2025.KLACQ4 2024
Next KLA earnings date
Q2 202728 Jan, 2027
KLA
Next KLA earnings date
Q2 202728 Jan, 2027
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Frequently asked questions
Semiconductor Process Control and Management
KLA Corporation specializes in developing and manufacturing process control and yield management systems for the semiconductor industry. The company's products and services are designed to enhance the production and performance of integrated circuits and other microelectronics.
KLA's offerings include advanced inspection, metrology, and data analytics systems that enable semiconductor manufacturers to improve quality control, optimize production processes, and achieve higher yields. The company is headquartered in Milpitas, California, and its shares are listed on the NASDAQ.
KLA's Areas of Focus and Customer Groups
The company's core business revolves around the development and supply of advanced inspection, metrology, and data analytics tools. These tools are integral to the semiconductor manufacturing process, as they help identify and correct defects at various stages of production, thereby enhancing yield, improving device performance, and reducing production costs.
KLA's inspection systems are used to detect and analyze defects on wafers, photomasks, reticles, and even during the packaging process. These defects, if not detected early, can lead to significant issues in the final product, making KLA's solutions essential for maintaining the integrity and reliability of semiconductor devices. Their metrology tools, on the other hand, are used to measure critical dimensions, film thicknesses, and other key parameters, ensuring that the manufacturing process adheres to the precise specifications required for advanced semiconductor devices.
Beyond hardware, KLA also provides software and services. The company offers sophisticated data analytics solutions that leverage artificial intelligence (AI) and machine learning to predict potential issues and optimize production processes. This integration of hardware and software enables KLA’s customers to gain deeper insights into their manufacturing processes, facilitating continuous improvement and innovation.
KLA serves a wide range of customers, including semiconductor manufacturers, foundries, and electronic components suppliers. The company’s products are vital not only for cutting-edge semiconductor technologies, such as those used in smartphones and data centers, but also for fields like advanced packaging, automotive electronics, and the Internet of Things (IoT).