OLED

EX-99.1

2 oled-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Press Release

Universal Display Contact:

Darice Liu

investor@oled.com

media@oled.com

+1 609-964-5123

Universal Display Corporation Announces Second Quarter 2026 Financial Results

EWING, N.J. – July 30, 2026 – Universal Display Corporation (Nasdaq: OLED), a global leader in energy-efficient OLED technologies and materials, today reported financial results for the second quarter ended June 30, 2026.

“We see OLED's next growth phase beginning to take shape,” said Brian Millard, Chief Financial Officer of Universal Display. “While portions of the consumer electronics market face near-term challenges, we continue to see significant investment across the OLED ecosystem, including new Gen 6 and Gen 8.6 capacity, expanding adoption in IT, automotive and emerging form factors, and continued advances in OLED technologies. Through our leadership in OLED materials and innovation, we remain focused on helping customers unlock the next generation of OLED performance and adoption.”

Financial Highlights for the Second Quarter of 2026

• Total revenue in the second quarter of 2026 was $152.2 million as compared to $171.8 million in the second quarter of 2025.

• Revenue from material sales was $66.2 million in the second quarter of 2026 as compared to $88.7 million in the second quarter of 2025. The decrease was primarily due to lower unit material volume, changes in customer mix, and a $6.9 million unfavorable period-over-period change in the cumulative catch-up adjustment for material sales. This catch-up adjustment was primarily driven by forecasted product mix changes over the remaining lives of certain customer contracts.

• Revenue from royalty and license fees was $81.2 million in the second quarter of 2026 as compared to $75.7 million in the second quarter of 2025. The increase was primarily driven by a $16.3 million favorable period-over-period change in the cumulative catch-up adjustment for royalty and license fees, partially offset by lower unit material volume and changes in customer mix. The favorable adjustment mainly reflected an increase in the average royalty and license fees price per gram, due to lower anticipated demand from certain customers over the remaining lives of their contracts.

• Cost of material sales was $33.4 million in the second quarter of 2026 as compared to $34.2 million in the second quarter of 2025.

• Total gross margin was 76% in the second quarter of 2026 as compared to 77% in the second quarter of 2025.

• Operating income was $53.6 million in the second quarter of 2026 as compared to $68.5 million in the second quarter of 2025.

• The effective income tax rate was 19.0% in the second quarter of 2026 as compared to 19.8% in the second quarter of 2025.

• Net income was $49.4 million or $1.06 per diluted share in the second quarter of 2026 as compared to $67.3 million or $1.41 per diluted share in the second quarter of 2025.

Revenue Comparison

($ in thousands)

Three Months Ended June 30,

2026

2025

Material sales

$

66,191

$

88,650

Royalty and license fees

81,212

75,667

Contract research services

4,754

7,477

Total revenue

$

152,157

$

171,794

Cost of Materials Comparison

($ in thousands)

Three Months Ended June 30,

2026

2025

Material sales

$

66,191

$

88,650

Cost of material sales

33,391

34,154

Gross margin on material sales

32,800

54,496

Gross margin as a % of material sales

50

%

61

%

Financial Highlights for the First Half of 2026

• Total revenue in the first half of 2026 was $294.4 million as compared to $338.1 million in the first half of 2025.

• Revenue from material sales was $149.9 million in the first half of 2026 as compared to $174.8 million in the first half of 2025. The decrease was primarily due to lower unit material volume and changes in customer mix.

• Revenue from royalty and license fees was $135.4 million in the first half of 2026 as compared to $149.2 million in the first half of 2025. The decrease was primarily the result of lower unit material volume and changes in customer mix, partially offset by the impact of a $7.4 million favorable period-over-period change in the cumulative catch-up adjustment, which was primarily attributable to royalty and license fees.

• Cost of material sales was $66.4 million in the first half of 2026 as compared to $68.1 million in the first half of 2025.

• Total gross margin was 75% in the first half of 2026 as compared to 77% in the first half of 2025.

• Operating income was $96.4 million in the first half of 2026 as compared to $138.2 million in the first half of 2025.

• The effective income tax rate was 19.7% for both six months ended June 30, 2026 and 2025.

• Net income was $85.3 million or $1.82 per diluted share in the first half of 2026 as compared to $131.7 million or $2.76 per diluted share in the first half of 2025.

Revenue Comparison

($ in thousands)

Six Months Ended June 30,

2026

2025

Material sales

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8-K

0001005284false00010052842026-02-192026-02-19

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 19, 2026

UNIVERSAL DISPLAY CORPORATION

(Exact name of Registrant as Specified in Its Charter)

Pennsylvania

1-12031

23-2372688

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

250 Phillips Boulevard, Ewing, NJ

08618

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (609) 671-0980 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 Instructions 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 class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value

OLED

The 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 ☐ 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. ☐

Item 2.02 Results of Operations and Financial Condition. On February 19, 2026, Universal Display Corporation (the "Company") issued a press release regarding its financial results for the quarter and year ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this report. The information set forth under this “Item 2.02. Results of Operations and Financial Condition” (including the exhibit) shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference in any filing made by the Company pursuant to the Securities Act of 1933, as amended, other than to the extent that such filing incorporates by reference any or all of such information by express reference thereto. Item 9.01 Financial Statements and Exhibits. (d) Exhibits

Exhibit Number

Description

99.1

Press Release by the Registrant, dated February 19, 2026, furnished pursuant to Item 2.02 of Form 8-K.

104

Cover 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.

UNIVERSAL DISPLAY CORPORATION

Date: February 19, 2026

By:

/s/ Brian Millard

Brian Millard

Vice President, Chief Financial Officer and Treasurer