LRCX

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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lrcx-20260128false000070754900007075492026-01-282026-01-28

Table of Contents

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 28, 2026

LAM RESEARCH CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 0-12933 94-2634797 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification Number)

4650 Cushing Parkway Fremont, California 94538 (Address of principal executive offices including zip code) (510) 572-0200 (Registrant’s telephone number, including area code) 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):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-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 SymbolName of each exchange on which registered Common Stock, Par Value $0.001 Per ShareLRCXThe Nasdaq Stock Market (Nasdaq Global Select Market)

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      ☐ 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.                      ☐

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Item 2.02.  Results of Operations and Financial Condition 3

Item 9.01.  Financial Statements and Exhibits 3

SIGNATURES 4

EX-99.1

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Item 2.02.Results of Operations and Financial Condition

On January 28, 2026, Lam Research Corporation (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended December 28, 2025, the text of which is attached hereto as Exhibit 99.1. The information in this item of this Current Report on Form 8-K, including Exhibit 99.1, is furnished pursuant to Item 2.02 and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section. Furthermore, the information in this item of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01.Financial Statements and Exhibits

(d) Exhibits

99.1Press Release dated January 28, 2026 announcing financial results for the fiscal quarter ended December 28, 2025

104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

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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 hereunto duly authorized.

Date:January 28, 2026LAM RESEARCH CORPORATION

(Registrant) /s/ Douglas R. Bettinger Douglas R. Bettinger Executive Vice President and Chief Financial Officer (Principal Financial Officer)