Financial Data and Key Metrics Changes - In 2021, the company reported record revenue of $554 million, an increase of 29% year-over-year, with operating income of $228 million and net income of $184 million, translating to $3.087 per diluted share [7][30] - For Q4 2021, revenue was $146 million, operating income was $56 million, and net income was $46 million or $0.96 per diluted share [8][39] - The company expects 2022 revenues to be in the range of $625 million to $650 million, indicating continued growth in the OLED industry [9][40] Business Line Data and Key Metrics Changes - Material sales in 2021 were $319 million, up 39% year-over-year, while royalty and license revenues were $219 million, up 18% year-over-year [30] - In Q4 2021, total material sales were $85.8 million, up 13% sequentially and up 37% year-over-year [33] - Green emitter sales in Q4 2021 were $66.7 million, up 15% sequentially and up 38% year-over-year [34] Market Data and Key Metrics Changes - The OLED penetration in the smartphone market reached 50%, while it remains at only 2% in the IT market and 3% in the TV market [23] - LG Display plans to increase its OLED TV shipments to almost 10 million units in 2022, up from slightly under 8 million units in 2021 [20] - The installed base of OLED square meter capacity increased by approximately 40% over year-end 2019 [24] Company Strategy and Development Direction - The company is focused on expanding its OLED emitter production capacity and establishing a new manufacturing site in Shannon, Ireland [11] - The strategic initiatives include advancing next-generation materials and technologies, particularly in the OVJP manufacturing platform [15][16] - The company aims to leverage its first-mover advantage in the OLED ecosystem to strengthen its growth runway [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the OLED industry's growth, driven by increased adoption across various consumer products [8] - The company anticipates that the commercial introduction of its full-color emissive stack will unlock new opportunities for higher energy efficiency across OLED applications [18] - Management acknowledged potential risks related to supply chain issues and component shortages affecting customer production [73] Other Important Information - The company achieved ISO 45001 certification in 2021, reinforcing its commitment to occupational health and safety management [14] - A quarterly cash dividend of $0.30 per share was approved, reflecting confidence in future growth opportunities [43] Q&A Session Summary Question: Insights on blue phosphorescent materials commercialization - Management indicated that while some phosphorescent blue materials are currently being sold, significant revenue impact is expected only upon commercial launch in 2024 [52] Question: Recent advancements in blue materials - Management highlighted improvements in color point lifetime and efficiency, providing confidence in meeting target specifications [58] Question: Revenue outlook and deferred revenue implications - Management clarified that deferred revenue is no longer predominantly tied to the largest customer, indicating a more diversified customer base [62] Question: Risks associated with supply constraints - Management acknowledged ongoing risks related to component shortages and COVID-19 impacts on customer production [73] Question: Potential for growth in IT market - Management noted that the IT market represents a significant opportunity, with only 2% OLED penetration currently [83]

OLED Materials and Technologies - The company has established commercial supply relationships with major manufacturers such as BOE, LG Display, and SDC, focusing on the use of its proprietary PHOLED materials for OLED displays[50][56][59]. - In 2021, the company continued to develop and supply phosphorescent emitter materials that produce red, yellow, green, and light-blue light for various display and lighting markets[46][50]. - The company’s PHOLED technologies exhibit device efficiencies up to four times higher than traditional fluorescent OLEDs, significantly reducing power requirements for devices[48]. - The company has been collaborating with display manufacturers for over 20 years, providing proprietary OLED materials for both commercial use and evaluation purposes[54][65]. - The company is actively developing new technologies such as OVJP for OLED manufacturing, which could increase the addressable market for large-size OLED panels[52][53]. - The company has established relationships with lighting manufacturers, including Konica Minolta and Sumitomo, to support the development of OLED lighting products[67][68]. - The company has established Application Centers in Hong Kong and Seoul to assist Asia-based customers in evaluating and adopting PHOLED materials[80]. Intellectual Property and Patents - The company has a strong intellectual property portfolio, including patents covering various OLED device architectures and manufacturing processes, which are crucial for its licensing business[47][50]. - The company has over 5,500 U.S. and foreign patents and patent applications, with more than 5,000 unexpired issued patents as of December 31, 2021[91][93]. - The company acquired over 1,200 OLED-related patents from Fujifilm for $109.5 million in 2012 and over 500 patents from BASF for $96.0 million in 2016[96][98]. - The company controls a broad portfolio of OLED-related device patents and technologies, including fundamental patents in phosphorescent OLED materials[106]. Business Relationships and Agreements - The company has entered into long-term agreements with manufacturers like Tianma and Visionox, extending their patent licenses and material supply agreements for multi-year terms[60][62]. - The agreement with PPG for manufacturing OLED materials has been extended through December 31, 2024, with automatic one-year renewals unless terminated[74]. - The new manufacturing site in Shannon, Ireland, is expected to commence operations by mid-year 2022, with PPG providing operation and maintenance services on a cost-plus basis[75]. - Collaborative relationships with other OLED material manufacturers focus on optimizing PHOLED emitter products, although significant revenue generation is not expected from these collaborations[76]. Research and Development - The company continues to invest in research and development for OLED technologies through partnerships with academic institutions and venture capital investments[77]. - The Ewing, New Jersey facility exceeds 50,000 square feet and houses multiple OLED deposition systems for technology development and testing[78][79]. Market and Competition - The OLED industry is highly competitive, facing challenges from alternative display technologies and other OLED technologies[101][102]. - The competitive landscape for host materials includes established suppliers like Solus, Dow Chemical, and Samsung SDI, with significant resources and potential aggressive market pursuits[107]. - Existing business relationships with manufacturers suggest potential for significant market penetration of OLED technologies in display and lighting industries, though competition from TADF and micro-LED technologies exists[108]. Workforce and Employee Metrics - As of December 31, 2021, the company had 409 active full-time employees, with 298 being research scientists, engineers, and laboratory technicians[110]. - The company reported a voluntary turnover rate of 11% and an overall employee growth rate of 16% in 2021, with women representing 33% of the executive management team[112]. Environmental Compliance - The company has not incurred substantial costs to comply with environmental protection laws and does not anticipate future costs in this area[114]. Revenue and Financials - Substantially all revenue is derived from outside of North America, primarily denominated in U.S. dollars, thus bearing no significant foreign exchange risk[269].

Universal Display Corporation (NASDAQ:OLED) Q3 2021 Earnings Conference Call November 4, 2021 5:00 PM ET Company Participants Darice Liu - Investor Relations Steven Abramson - President, Chief Executive Officer and Director Sidney Rosenblatt - Executive Vice President, Chief Financial Officer, Treasurer, Secretary and Director Conference Call Participants C.J. Muse - Evercore ISI Sidney Ho - Deutsche Bank Krish Sankar - Cowen and Company Jim Ricchiuti - Needham and Company Shannon Cross - Cross Research Mar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ___________ Commission File Number 1-12031 UNIVERSAL DISPLAY CORPORATION (Exact name of registrant as specified in its charter) | Pennsylv ...

Universal Display Corp (NASDAQ:OLED) Q2 2021 Earnings Conference Call August 5, 2021 5:00 PM ET Company Participants Darice Liu - Director, IR & Corporate Communications Steven Abramson - President, CEO & Director Sidney Rosenblatt - EVP, CFO, Treasurer, Secretary & Director Conference Call Participants Krish Sankar - Cowen and Company Christopher Muse - Evercore ISI Sidney Ho - Deutsche Bank Atif Malik - Citigroup Shannon Cross - Cross Research Brian Lee - Goldman Sachs Group Operator Good day, ladies and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ___________ Commission File Number 1-12031 UNIVERSAL DISPLAY CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 23 ...

> UNIVERSAL DISPLAY CORPORATION OLED Investor Presentation 2Q 2021 (updated: May 2021) © UNIVERSAL DISPLAY CORPORATION 2021 ALL RIGHTS RESERVED © UNIVERSAL DISPLAY CORPORATION 2020 ALL RIGHTS RESERVED Forward- Looking Statements All statements in this document that are not historical, such as those relating to the Company's technologies and potential applications of those technologies, the Company's expected results and future declaration of dividends, as well as the growth of the OLED market and the Compan ...

Universal Display Corporation (NASDAQ:OLED) Q1 2021 Earnings Conference Call May 6, 2021 5:00 PM ET Company Participants Darice Liu - Director, Investor Relations Steve Abramson - President and CEO Sid Rosenblatt - Executive Vice President and CFO Conference Call Participants Brian Lee - Goldman Sachs Krish Sankar - Cowen and Company Mehdi Hosseini - SIG C.J. Muse - Evercore ISI Shannon Cross - Cross Research Sidney Ho - Deutsche Bank Operator Good day, ladies and gentlemen. And welcome to Universal Display ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the transition period from ____________ to ___________ Commission File Number 1-12031 Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNIVERSAL DISPLAY CORPORATION (Exact name of registrant as specified in its charter) Indicate by ch ...

Universal Display Corporation (NASDAQ:OLED) Q4 2020 Earnings Conference Call February 18, 2021 5:00 PM ET Company Participants Darice Liu - Director of Investor Relations and Corporate Communications Steven Abramson - President and Chief Executive Officer Sidney Rosenblatt - Executive Vice President and Chief Financial Officer Conference Call Participants Brian Lee - Goldman Sachs Group, Inc. Robert Mertens - Cowen and Company, LLC James Ricchiuti - Needham & Company, LLC Matthew Prisco - Evercore ISI Patri ...