ICHR

EX-99.1

2 ex-991_26q1xearnings.htm

2026 Q1 EARNINGS RELEASE

Document

Exhibit 99.1

Ichor Holdings, Ltd. Announces First Quarter 2026 Financial Results

FREMONT, Calif., May 4, 2026–Ichor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering, and manufacturing of critical fluid delivery subsystems and components for semiconductor capital equipment, today announced first quarter 2026 financial results.

First quarter 2026 highlights:

•Revenue of $256.1 million, above the mid-point of our guidance range communicated in February;

•Gross margin of 12.6% on a GAAP basis and 12.8% on a non‑GAAP basis; and

•Earnings (loss) per share of $(0.07) on a GAAP basis and $0.15 on a non-GAAP basis.

“Within a strengthening demand environment, we are pleased to report Q1 results at the upper end of our expectations for revenues, gross margin, and earnings per share due to strong operational execution by our team,” commented Phil Barros, Ichor’s CEO. “Revenues of $256 million increased 15% sequentially, a strong start to what we expect will be a sustained industry upcycle driven by structural technology transitions and strategic capacity investments in wafer fabrication equipment. The early investments we made in ramping labor headcount and pre-positioning inventory are enabling Ichor to deliver strong execution for our customers and achieve revenue growth toward the high end of our demand forecast. With customer delivery timelines accelerating, our outlook for the second quarter reflects our expectation for another strong quarter of sequential improvement spanning revenues, gross margin, and earnings per share. We continue to drive the strategic, operational and technological priorities for Ichor that we expect will enable continued gross margin expansion and significant earnings leverage as revenues ramp through the year, and into 2027.”

Q1 2026Q4 2025Q1 2025

(dollars in thousands, except per share amounts)

U.S. GAAP Financial Results:

Net sales$256,068 $223,606 $244,465

Gross margin12.6 %9.4 %11.7 %

Operating margin0.8 %(6.2)%(0.5)%

Net loss$(2,469)$(15,961)$(4,559)

Diluted EPS$(0.07)$(0.46)$(0.13)

Q1 2026Q4 2025Q1 2025

(dollars in thousands, except per share amounts)

Non-GAAP Financial Results:

Gross margin12.8 %11.7 %12.4 %

Operating margin3.4 %1.2 %2.7 %

Net income$5,287 $280 $4,236

Diluted EPS$0.15 $0.01 $0.12

U.S. GAAP Financial Results Overview

For the first quarter of 2026, revenue was $256.1 million, net loss was $(2.5) million, and net loss per diluted share (“diluted EPS”) was $(0.07). This compares to revenue of $223.6 million and $244.5 million, net loss of $(16.0) million and $(4.6) million, and diluted EPS of $(0.46) and $(0.13), for the fourth quarter of 2025 and first quarter of 2025, respectively.

Non-GAAP Financial Results Overview

For the first quarter of 2026, non-GAAP net income was $5.3 million and non-GAAP diluted EPS was $0.15. This compares to non-GAAP net income of $0.3 million and $4.2 million, and non-GAAP diluted EPS of $0.01 and $0.12, for the fourth quarter of 2025 and first quarter of 2025, respectively.

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Second Quarter 2026 Financial Outlook

For the second quarter of 2026, we expect the following:

Low-EndMid-PointHigh-End

Revenue$290 million$300 million$310 million

GAAP diluted EPS$0.10$0.15$0.20

Non-GAAP diluted EPS$0.25$0.30$0.35

This outlook for non‑GAAP diluted EPS excludes amortization of intangible assets of approximately $1.9 million and share-based compensation expense of approximately $4.4 million, as well as the related income tax effects. Non-GAAP diluted EPS should be considered in addition to, but not as a substitute for, our financial information presented in accordance with GAAP.

Balance Sheet and Cash Flow Results

We ended the first quarter of 2026 with cash and cash equivalents of $89.1 million, a decrease of $9.2 million from the prior year ended December 26, 2025. The decrease of $9.2 million for the first quarter of 2026 was primarily due to capital expenditures of $7.1 million and cash used in operating activities of $2.9 million.

Our cash used in operating activities of $2.9 million for the first quarter of 2026 consisted of an increase in our net operating assets and liabilities of $12.7 million and a net loss of $2.5 million, partially offset by non-cash charges of $12.2 million, consisting primarily of depreciation and amortization of $7.7 million and share-based compensation expense of $3.8 million.

The increase in our net operating assets and liabilities of $12.7 million during the first quarter of 2026 was primarily due to an increase in accounts receivable of $22.6 million and an increase in inventory of $20.5 million, partially offset by an increase in accounts payable of $27.4 million, and a decrease in prepaid expenses and other assets of $2.9 million.

Use of Non-GAAP Financial Results

In addition to U.S. GAAP ("GAAP") results, this press release also contains non-GAAP financial results, including

ichr-202602090001652535FALSE3185 Laurelview Ct.FremontCalifornia00016525352025-11-032025-11-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 9, 2026

ICHOR HOLDINGS, LTD.

(Exact name of registrant as specified in its charter)

Cayman Islands001-37961Not Applicable (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

3185 Laurelview Ct. Fremont, California 94538 (Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (510) 897-5200 Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8‑K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Ordinary Shares, par value $0.0001 per shareICHRThe NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b‑2 of the Securities Exchange Act of 1934 (§ 240.12b‑2 of this chapter). Emerging growth company o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition On February 9, 2026, Ichor Holdings, Ltd. (the “Company”) issued a press release announcing fourth quarter and fiscal year 2025 financial results. A copy of the press release is furnished with this Form 8‑K as Exhibit 99.1. The Company is furnishing this information in connection with its previously announced webcast conference call to be held on February 9, 2026, at 1:30 p.m. PT to discuss these results. The Company makes reference to certain non‑GAAP financial measures, including non‑GAAP gross profit, non-GAAP operating income, non-GAAP net income, non‑GAAP diluted EPS, and free cash flow. The press release contains a reconciliation of each non‑GAAP measure to the directly comparable GAAP measure. The information contained under this Item 2.02 of this Current Report on Form 8‑K (including Exhibit 99.1) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing. The Company uses the “Investors” section of its website (ir.ichorsystems.com) as a means of disclosing material non‑public information and for complying with its disclosure obligations under Regulation FD.

Item 9.01 Financial Statements and Exhibits

Exhibit NumberDescription

99.1Press Release, dated February 9, 2026, announcing fourth quarter and fiscal year 2025 financial results.

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ICHOR HOLDINGS, LTD.

Date: February 9, 2026 /s/ Greg Swyt Greg Swyt Chief Financial Officer

ichr-202601130001652535FALSE3185 Laurelview Ct.FremontCalifornia00016525352026-01-132026-01-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 13, 2026

ICHOR HOLDINGS, LTD.

(Exact name of registrant as specified in its charter)

Cayman Islands001-37961Not Applicable (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

3185 Laurelview Ct. Fremont, California 94538 (Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (510) 897-5200 Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8‑K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Ordinary Shares, par value $0.0001 per shareICHRThe NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b‑2 of the Securities Exchange Act of 1934 (§ 240.12b‑2 of this chapter). Emerging Growth Company o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to o Section 13(a) of the Exchange Act.

Item 2.02 Results of Operations and Financial Condition On January 13, 2026, Ichor Holdings, Ltd. (the “Company”) issued a press release announcing certain preliminary fourth quarter 2025 estimated financial results. A copy of the press release is furnished with this Current Report on Form 8‑K as Exhibit 99.1 and is incorporated herein by reference. The preliminary financial results for fourth quarter 2025, which are preliminary, unaudited and subject to completion, reflect management's current views and may change as a result of management's continued review and the completion of audit procedures. Such preliminary results are subject to the finalization of year-end financial and accounting procedures (which have yet to be performed) and should not be viewed as a substitute for audited results prepared in accordance with U.S. GAAP. The Company has not yet filed its annual report on Form 10-K for the fiscal year 2025. The preliminary financial results represent management estimates that constitute forward-looking statements subject to risks and uncertainties. As a result, the preliminary financial results may materially differ from the actual results that will be reflected in the consolidated financial statements for the fiscal year 2025 when they are completed and publicly disclosed. The Company undertakes no obligation to update or supplement the information provided herein until the Company reports its final financial results for the fourth quarter of fiscal year 2025. The information contained under Item 2.02 of this Current Report on Form 8‑K (including Exhibit 99.1) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing. The Company uses the “Investors” section of its website (ir.ichorsystems.com) as a means of disclosing material non‑public in