Photronics reported Q1 FY2026 revenue of USD 225.1 million, up 6.1% year-over-year and up 4.3% sequentially. GAAP net income attributable to shareholders was USD 42.9 million, while non-GAAP net income attributable to shareholders was USD 35.7 million (non-GAAP diluted EPS: USD 0.61). By segment, Q1 FY2026 IC revenue was USD 165.3 million (up 7% year-over-year; up 5% sequentially) and FPD revenue was USD 59.8 million (up 3% year-over-year and sequentially). Gross margin was 35.0% and operating margin was 24.4% in Q1. Cash, cash equivalents and short-term investments ended the quarter at USD 636.9 million, including USD 459.1 million associated with joint ventures (50.01% owned). Operating cash flow was USD 97.3 million and capital expenditures were USD 47.6 million. Management said the company delivered record high-end IC revenue for the second consecutive quarter and remains on track with facility expansion plans and process improvements to diversify its geographic revenue mix. For Q2 FY2026, Photronics guided revenue of USD 212 million to USD 220 million and non-GAAP diluted EPS of USD 0.49 to USD 0.55.

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