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Universal Display (OLED) investor relations material
Universal Display Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 revenue was $140 million, down 14% year-over-year, with net income of $44 million ($0.92 per diluted share), mainly due to lower royalty and license fees and a $9.5 million out-of-period adjustment.
For the first nine months of 2025, revenue was $478 million, slightly down from $485 million in the prior year, and net income was $175.7 million, nearly flat year-over-year.
Material sales in Q3 were $83 million, with green emitter sales up and red emitter sales down; royalty and licensing fees fell 29% in Q3 due to customer mix and the revenue adjustment.
Innovation remains a core focus, with AI/ML accelerating material discovery and a $50 million acquisition of OLED patent assets from Merck KGaA to strengthen the R&D pipeline, expected to close in January 2026.
The company is positioned for long-term growth, driven by OLED adoption in IT, automotive, and consumer markets, and new manufacturing capacity coming online.
Financial highlights
Q3 2025 gross margin was 75%, down from 78% in Q3 2024; full-year gross margin expected at 76–77%.
Operating income for Q3 was $43 million, down from $67 million a year ago; operating margin was 31% (down from 41%).
Q3 diluted EPS was $0.92, down from $1.40 in Q3 2024; year-to-date diluted EPS was $3.68, unchanged from the prior year.
Ended Q3 with $1 billion in cash, cash equivalents, and investments; working capital increased to $929 million.
Quarterly dividend of $0.45 per share declared for Q4 2025.
Outlook and guidance
Full-year 2025 revenue expected at the lower end of the $650 million–$700 million guidance range.
Q4 2025 is projected to be a record quarter for revenue, based on strong customer forecasts.
Operating margins for the full year expected in the 35–40% range; effective tax rate to remain around 19%.
Management expects sufficient liquidity to meet obligations for at least the next twelve months.
Anticipates renewed momentum and growth in Q4, with optimism for 2026 and beyond as new OLED capacity comes online.
PHOLED blue's premium pricing vs. adoption hindrance?
Metrics for new fab material seeding process impact?
UVJC's strategic rationale for new market expansion?
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Next Universal Display earnings date
53rd Annual Nasdaq Investor Conference9 Dec, 2025
Next Universal Display earnings date
53rd Annual Nasdaq Investor Conference9 Dec, 2025
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Frequently asked questions
Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies. The company operates through three segments: OLED Materials, OLED Devices, and Amoled Materials. The OLED Materials segment offers emitters and phosphorescent materials, including Universal's proprietary polymer—emitter layer (PLEC) technology for realizing low-cost 50- to 100-milliwatt blue OLEDs; phase-change materials for use in high-brightness white OLEDs. The OLED Devices segment comprises display devices with or without flexibility. This segment primarily offers small and medium-sized devices, such as smartphone displays and televisions. Universal Display Corporation is based in Ewing, New Jersey.
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