Form 10-Q · Quarterly report
Lam Research 10-Q, filed Oct 22, 2026
- Filed
- CIK
- 0000707549
- Accession no.
- 0000707549-26-000054
Summary
Lam Research reported September 2026 quarter revenue of $8.22 billion, up 22% from the prior quarter and about 54% from a year earlier, driven by memory and foundry equipment spending tied to AI-related semiconductor demand. Net income was $2.75 billion, or $2.19 per diluted share, and the company said trade restrictions and tariffs remain a risk that has had and may continue to have a negative impact on revenue and operating margin.
Key points
- Revenue rose 22% sequentially and about 54% year over year to $8.22 billion in the quarter ended September 27, 2026, with systems revenue up 62% year over year to $5.73 billion.
- Net income was $2.75 billion, or $2.19 per diluted share; gross margin was 52.3% of revenue, up from 51.7% the prior quarter.
- China accounted for 35% of revenue in the quarter, up from 26% the prior quarter; memory and foundry each represented 46% of leading- and non-leading-edge equipment revenue.
- Cash and equivalents plus restricted cash rose to $7.45 billion, reflecting $3.50 billion of operating cash flow, partly offset by $1.02 billion of share repurchases and $325.4 million of dividends.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. Management’s Discussion EXECUTIVE SUMMARY Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. We have built a strong global presence with core competencies in areas like nanoscale manufacturing enablement, chemistry, plasma and fluidics, advanced systems engineering, and a broad range of operational disciplines. Our products and services are designed to help our customers build smaller and better performing devices that are used in a variety of electronic products, including mobile phones, personal computers, cloud and enterprise servers, wearables, automotive vehicles, and data storage devices. …
An excerpt of the text as filed with the SEC, cut for length.
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