LRCX

EX-99.1

2 lrcx_exhibitx991xq1x2027.htm

EX-99.1

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

Lam Research Corporation Reports Financial Results for the Quarter Ended September 27, 2026

FREMONT, Calif., October 21, 2026 - Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended September 27, 2026 (the “September 2026 quarter”).

Highlights for the September 2026 quarter were as follows:

•Revenue of $8.22 billion.

•U.S. GAAP gross margin as a percent of revenue of 52.3%, U.S. GAAP operating margin as a percent of revenue of 40.0%, and U.S. GAAP diluted EPS of $2.19.

•Non-GAAP gross margin as a percent of revenue of 52.4%, non-GAAP operating margin as a percent of revenue of 40.2%, and non-GAAP diluted EPS of $2.20.

Key Financial Data for the Quarters Ended

September 27, 2026 and June 28, 2026

(in thousands, except per share data, percentages, and basis points)

U.S. GAAP

September 2026June 2026Change Q/Q

Revenue$8,219,418 $6,722,238 +22%

Gross margin 52.3 %51.7 %+ 60 bps

Operating margin40.0 %37.4 %+ 260 bps

Diluted EPS$2.19 $1.81 + 21%

Non-GAAP

September 2026June 2026Change Q/Q

Revenue$8,219,418 $6,722,238 +22%

Gross margin52.4 %52.0 %+ 40 bps

Operating margin40.2 %38.4 %+ 180 bps

Diluted EPS$2.20 $1.82 + 21%

U.S. GAAP Financial Results

For the September 2026 quarter, revenue was $8.22 billion, gross margin was $4.30 billion, or 52.3% of revenue, operating expenses were $1.02 billion, operating margin was 40.0%, and net income was $2.75 billion, or $2.19 per diluted share on a U.S. GAAP basis. This compares to revenue of $6.72 billion, gross margin of $3.48 billion, or 51.7% of revenue, operating expenses of $965.3 million, operating margin of 37.4%, and net income of $2.28 billion, or $1.81 per diluted share, for the quarter ended June 28, 2026 (the “June 2026 quarter”).

Non-GAAP Financial Results

For the September 2026 quarter, non-GAAP gross margin was $4.31 billion, or 52.4% of revenue, non-GAAP operating expenses were $1.00 billion, non-GAAP operating margin was 40.2%, and non-GAAP net income was $2.77 billion, or $2.20 per diluted share. This compares to non-GAAP gross margin of $3.50 billion, or 52.0% of revenue, non-GAAP operating expenses of $916.4 million, non-GAAP operating margin of 38.4%, and non-GAAP net income of $2.28 billion, or $1.82 per diluted share, for the June 2026 quarter.

“With AI driving higher semiconductor demand and greater device complexity, our focus on operational execution helped Lam deliver record revenue, profit, and earnings per share in the September quarter,” said Tim Archer, Lam Research's President and Chief Executive Officer. “Our strategic investments in technology inflections and manufacturing capacity are paying off, strengthening our ability to outgrow the wafer fabrication equipment market as the industry expands.”

Balance Sheet and Cash Flow Results

Cash, cash equivalents, and restricted cash balances increased to $7.45 billion at the end of the September 2026 quarter compared to $5.60 billion at the end of the June 2026 quarter. The increase was primarily the result of cash generated from operating activities during the quarter partially offset by cash deployed for capital return activities and capital expenditures.

Deferred revenue at the end of the September 2026 quarter increased to $2.66 billion compared to $2.43 billion as of the end of the June 2026 quarter. Lam's deferred revenue balance does not include shipments to customers in Japan, to whom control does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $468.3 million as of September 27, 2026 and $490.2 million as of June 28, 2026.

Revenue

The geographic distribution of revenue during the September 2026 quarter is shown in the following table:

RegionRevenue

China35%

Korea20%

Taiwan18%

Japan9%

United States8%

Southeast Asia6%

Europe4%

The following table presents revenue disaggregated between systems and customer support-related revenue:

Three Months Ended

September 27, 2026June 28, 2026September 28, 2025

(in thousands)

Systems revenue$5,732,907 $4,249,848 $3,547,565

Customer support-related revenue and other2,486,511 2,472,390 1,776,608

$8,219,418 $6,722,238 $5,324,173

Systems revenue includes sales of new leading-edge equipment in deposition, etch, clean, and other wafer fabrication markets.

Customer support-related revenue includes sales of customer services, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.

Outlook

For the quarter ending December 27, 2026, Lam is providing the following guidance:

U.S. GAAPReconciling ItemsNon-GAAP

Revenue$8.60 Billion+/-$400 Million—$8.60 Billion+/-$400 Million

Gross margin 52.5%+/-1%$2.7 Million52.5%+/-1%

Operating margin40.5%+/-1%$3.0 Million40.5%+/-

EX-99.1

2 lrcx_exhibitx991xq4x2026.htm

EX-99.1

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

Lam Research Corporation Reports Financial Results for the Quarter Ended June 28, 2026

FREMONT, Calif., July 29, 2026 - Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended June 28, 2026 (the “June 2026 quarter”).

Highlights for the June 2026 quarter were as follows:

•Revenue of $6.72 billion.

•U.S. GAAP gross margin as a percent of revenue of 51.7%, U.S. GAAP operating margin as a percent of revenue of 37.4%, and U.S. GAAP diluted EPS of $1.81.

•Non-GAAP gross margin as a percent of revenue of 52.0%, non-GAAP operating margin as a percent of revenue of 38.4%, and non-GAAP diluted EPS of $1.82.

Key Financial Data for the Quarters Ended

June 28, 2026 and March 29, 2026

(in thousands, except per-share data, percentages, and basis points)

U.S. GAAP

June 2026March 2026Change Q/Q

Revenue$6,722,238 $5,841,488 +15.1%

Gross margin51.7 %49.8 %+ 190 bps

Operating margin 37.4 %35.0 %+ 240 bps

Diluted EPS$1.81 $1.45 +24.8%

Non-GAAP

June 2026March 2026Change Q/Q

Revenue$6,722,238 $5,841,488 +15.1%

Gross margin 52.0 % 49.9 %+ 210 bps

Operating margin38.4 % 35.0 %+ 340 bps

Diluted EPS$1.82  $1.47 +23.8%

U.S. GAAP Financial Results

For the June 2026 quarter, revenue was $6.72 billion, gross margin was $3.48 billion, or 51.7% of revenue, operating expenses were $965.3 million, operating margin was 37.4% of revenue, and net income was $2.28 billion, or $1.81 per diluted share on a U.S. GAAP basis. This compares to revenue of $5.84 billion, gross margin of $2.91 billion, or 49.8% of revenue, operating expenses of $863.5 million, operating margin of 35.0% of revenue, and net income of $1.83 billion, or $1.45 per diluted share, for the quarter ended March 29, 2026 (the “March 2026 quarter”).

Non-GAAP Financial Results

For the June 2026 quarter, non-GAAP gross margin was $3.50 billion, or 52.0% of revenue, non-GAAP operating expenses were $916.4 million, non-GAAP operating margin was 38.4% of revenue, and non-GAAP net income was $2.28 billion, or $1.82 per diluted share. This compares to non-GAAP gross margin of $2.91 billion, or 49.9% of revenue, non-GAAP operating expenses of $866.2 million, non-GAAP operating margin of 35.0% of revenue, and non-GAAP net income of $1.85 billion, or $1.47 per diluted share, for the March 2026 quarter.

“Lam delivered record revenue, operating margin and earnings per share in the June quarter as AI-driven demand continues to reshape the semiconductor industry,” said Tim Archer, Lam Research's President and Chief Executive Officer. “Our strategic investments and technology leadership are helping customers accelerate through rising manufacturing complexity, positioning Lam for a third consecutive year of outperformance in 2026.”

Balance Sheet and Cash Flow Results

Cash, cash equivalents, and restricted cash balances increased to $5.60 billion at the end of the June 2026 quarter compared to $4.77 billion at the end of the March 2026 quarter. The increase was primarily driven by cash generated from operating activities, partially offset by cash deployed for capital return activities during the quarter.

Deferred revenue at the end of the June 2026 quarter increased to $2.43 billion compared to $2.22 billion as of the end of the March 2026 quarter. Lam's deferred revenue balance does not include shipments to customers in Japan, to whom title does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $490.2 million as of June 28, 2026 and $434.3 million as of March 29, 2026.

Revenue

The geographic distribution of revenue during the June 2026 quarter is shown in the following table:

RegionRevenue

Taiwan27%

China26%

Korea20%

Japan9%

United States9%

Southeast Asia5%

Europe4%

The following table presents revenue disaggregated between systems and customer support-related revenue:

Three Months Ended

June 28, 2026March 29, 2026June 29, 2025

(In thousands)

Systems revenue$4,249,848 $3,730,582 $3,437,625

Customer support-related revenue and other2,472,390 2,110,906 1,733,768

$6,722,238 $5,841,488 $5,171,393

Systems revenue includes sales of new leading-edge equipment in deposition, etch and other wafer fabrication markets.

Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.

Outlook

For the quarter ended September 27, 2026, Lam is providing the following guidance:

U.S. GAAPReconciling ItemsNon-GAAP

Revenue$8.10 Billion+/-$400 Million—$8.10 Billion+/-$400 Million

Gross margin 52.0%+/-1%$2.7 Million52.0%+/-1%

Operating margin39.5%+/-1%$3.0 Million39.5%+/-1%

Net income per diluted share$2.15+/-$0.15$3.3 Million$2.15+/-$0.15

Diluted share coun

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