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Photronics (PLAB) investor relations material

Photronics Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary27 Aug, 2025

Executive summary

  • Q3 FY2025 revenue was $210.4 million, flat year-over-year and sequentially, with FPD strength offsetting IC weakness.

  • Non-GAAP diluted EPS was $0.51, while GAAP diluted EPS was $0.39; net income attributable to shareholders was $22.9 million.

  • Gross margin declined to 33.7% from 36.9% in the prior quarter, mainly due to unfavorable product mix and higher material costs.

  • Share repurchases totaled $97.4 million year-to-date, with an additional $25 million authorized.

  • Strategic investments continue in advanced technology nodes, geographic diversification, and facility expansions.

Financial highlights

  • Q3 FY2025 revenue: $210.4 million; gross margin: 33.7%; operating margin: 22.9%.

  • Q3 FY2025 non-GAAP net income: $29.4 million; non-GAAP EPS: $0.51; GAAP EPS: $0.39.

  • Cash, cash equivalents, and short-term investments totaled $575.8 million, including $396.8 million from joint ventures.

  • Operating cash flow for Q3 FY2025 was $50.1 million; capital expenditures were $24.8 million.

  • Debt nearly eliminated as of Q3 FY2025.

Outlook and guidance

  • Q4 FY2025 revenue expected between $201 million and $209 million.

  • Q4 FY2025 non-GAAP EPS projected at $0.42–$0.48; operating margin guidance at 20–22%.

  • FY2025 capital expenditures targeted at $200 million, focused on capacity and advanced nodes.

  • Cautious demand outlook persists due to market and geopolitical uncertainties.

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Frequently asked questions

Photronics, Inc. manufactures and sells photomask products used to make semiconductor devices, flat panel displays, and light emitting diode (LED) products worldwide. The company offers photomasks for use in the production of semiconductor devices; and liquid crystal display photomasks that are used by flat panel display manufacturers to etch patterns onto glass panels.

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