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 24, 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 000-50646 Ultra Clean Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 61-1430858 (State or other ...

Financial Data and Key Metrics Changes - Revenue for Q3 2021 reached $553.7 million, marking a 7.5% increase from the prior quarter, and the highest in UCT's history [6][16] - Earnings per share (EPS) increased to $1.07, up from $0.99 in the previous quarter, reflecting a net income of $48.8 million compared to $43.7 million [19][21] - Total gross margin rose to 21.6%, with product gross margin increasing to 19.3% and services gross margin at 36.9% [17][18] Business Line Data and Key Metrics Changes - The products division revenue increased by 8.9% to $481.9 million, including $64.4 million from the Ham-Let acquisition [16] - The services division revenue slightly decreased to $71.7 million due to labor shortages affecting shipments [16] Market Data and Key Metrics Changes - The company anticipates a year-over-year revenue growth of approximately 50% for 2021, with EPS rising by 49% [6] - The fourth quarter revenue guidance is between $590 million and $630 million, indicating a 10.2% increase using the midpoint [22] Company Strategy and Development Direction - UCT is strategically positioned to benefit from the ongoing demand for semiconductors, with plans for new high-volume fabs in 2022 [11] - The new vertically integrated manufacturing facility in Malaysia is expected to enhance production capacity and support customer needs [10][11] - The company emphasizes its competitive advantages, including product diversification and a global manufacturing network [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term sustainability of the WFE market and ongoing demand for UCT's products [7] - The company is optimistic about its ability to meet customer needs and achieve long-term sustainable growth [13] Other Important Information - Operating expenses for the quarter were $50.9 million, slightly increasing from $48.9 million in Q2, but as a percentage of revenue, it declined to 9.2% [18] - Cash and cash equivalents at the end of Q3 were $457 million, up from $451.4 million in the previous quarter [21] Q&A Session Summary Question: Supply chain challenges and execution - Management highlighted the dynamic nature of supply chain bottlenecks and the importance of proactive forecasting and collaboration with suppliers [26][27] Question: Gross margin management amid rising freight costs - The increase in gross margins was attributed to higher volumes and the acquisition of Ham-Let, despite elevated freight costs [28] Question: Long-term freight cost outlook - Management anticipates a decrease in freight costs over the next few quarters, although they may not return to 2019 levels [32] Question: Impact of COVID-19 on the new facility in Malaysia - The new facility has not been significantly impacted by COVID-19, allowing for timely production ramp-up [34] Question: Capacity ramp-up for Ham-Let products - Management expects to see increased revenue from Ham-Let starting in the first quarter of next year, with ongoing investments in tooling [36] Question: Visibility and procurement strategies - The company has improved visibility into future orders and is working closely with customers to manage supply chain challenges [46][47] Question: Share gain opportunities amid competitor constraints - Management noted that share gains are typically planned and not easily shifted in the short term, focusing on long-term outsourcing opportunities [55][57]

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 25, 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 000-50646 Ultra Clean Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 61-1430858 (State or other juris ...

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Q2 2021 Results Conference Call August 2, 2021 4:30 PM ET Company Participants Rhonda Bennetto - VP, IR Jim Scholhamer - CEO Sheri Savage - SVP, Finance and CFO Conference Call Participants Krish Sankar - Cowen and Company Quinn Bolton - Needham & Co. Patrick Ho - Stifel Christian Schwab - Craig-Hallum Capital Dick Ryan - Colliers Operator Good day, and welcome to the Ultra Clean Technology Second Quarter 2021 Conference Call. [Operator Instructions] Please note this ...

PART I [Unaudited Condensed Consolidated Financial Statements](index=3&type=section&id=ITEM%201.%20UNAUDITED%20CONDENSED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) This section presents the unaudited condensed consolidated financial statements, detailing financial performance, position, and cash flows, along with significant accounting policies and subsequent events Condensed Consolidated Balance Sheet Highlights (Q1 2021 vs. YE 2020) | Account | March 26, 2021 (In millions) | December 25, 2020 (In millions) | | :--- | :--- | :--- | | **Total Current Assets** | $636.2 | $545.1 | | **Total Assets** | $1,190.6 | $1,102.5 | | **Total Current Liabilities** | $263.1 | $201.2 | | **Total Liabilities** | $614.0 | $551.3 | | **Total Equity** | $576.6 | $551.2 | Condensed Consolidated Statements of Operations (Q1 2021 vs. Q1 2020) | Metric | Q1 2021 (In millions, except EPS) | Q1 2020 (In millions, except EPS) | Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | $417.6 | $320.9 | +30.1% | | **Gross Profit** | $86.9 | $65.7 | +32.3% | | **Income from Operations** | $40.4 | $22.6 | +78.8% | | **Net Income Attributable to UCT** | $25.0 | $9.4 | +166.0% | | **Diluted EPS** | $0.60 | $0.23 | +160.9% | Condensed Consolidated Statements of Cash Flows (Q1 2021 vs. Q1 2020) | Cash Flow Activity | Q1 2021 (In millions) | Q1 2020 (In millions) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $65.6 | $15.7 | | **Net cash provided by (used in) investing activities** | $0.8 | $(6.7) | | **Net cash provided by (used in) financing activities** | $(1.6) | $37.0 | | **Net increase in cash and cash equivalents** | $64.0 | $45.6 | - Subsequent to the quarter's end, on March 31, 2021, the company completed the acquisition of Ham-Let for approximately **$351.0 million** in cash[124](index=124&type=chunk) - In April 2021, the company completed a public offering of common stock, receiving net proceeds of approximately **$167.6 million**[127](index=127&type=chunk) [Note 1: Organization and Significant Accounting Policies](index=8&type=section&id=Note%201%3A%20Organization%20and%20Significant%20Accounting%20Policies) UCT, a key semiconductor industry supplier, operates through Products and Services segments, with significant revenue concentration from two major customers - The company operates in two segments: the Products division (critical subsystems like chemical and gas delivery systems) and the Services division (parts cleaning, coating, and analytical services)[19](index=19&type=chunk) Major Customer Revenue Concentration (Q1 2021) | Customer | Percentage of Total Revenues | | :--- | :--- | | Lam Research Corporation | 45.7% | | Applied Materials, Inc. | 23.5% | | **Total** | **69.2%** | [Note 7: Borrowing Arrangements](index=16&type=section&id=Note%207%3A%20Borrowing%20Arrangements) As of March 26, 2021, total bank debt was **$267.8 million**, primarily from a Term Loan, with an additional **$355.0 million** borrowed post-quarter for the Ham-Let acquisition - As of March 26, 2021, the company had an outstanding Term Loan of **$272.8 million** with an interest rate of **4.6%**[76](index=76&type=chunk) - The company had unused revolving credit facilities totaling approximately **$73.2 million** across the U.S., Czech Republic, and China[84](index=84&type=chunk) - On March 31, 2021, the company borrowed an additional **$355.0 million** under its credit agreement to finance the acquisition of Ham-Let[86](index=86&type=chunk)[125](index=125&type=chunk) [Note 16: Reportable Segments](index=22&type=section&id=Note%2016%3A%20Reportable%20Segments) The company reports two operating segments, Products and Services, with the Products segment being the primary driver of revenue and operating profit in Q1 2021 Segment Performance (Q1 2021 vs. Q1 2020) | Segment | Metric (In millions) | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | :--- | | **Products** | Revenues | $345.6 | $259.4 | | | Operating Profit | $34.2 | $20.3 | | **Services** | Revenues | $72.0 | $61.5 | | | Operating Profit | $6.2 | $2.3 | [Note 17: Subsequent Events](index=23&type=section&id=Note%2017%3A%20Subsequent%20Events) Post-quarter, UCT completed the Ham-Let acquisition for **$351.0 million** via a term loan and raised **$167.6 million** from a public equity offering - On March 31, 2021, UCT acquired Ham-Let for **~$351.0 million** in cash to broaden its serviceable market in the semiconductor fab infrastructure space[124](index=124&type=chunk) - To fund the acquisition, the company obtained a **$355.0 million** senior secured incremental term loan B facility[125](index=125&type=chunk) - In April 2021, the company completed a public offering of 3,181,818 shares of common stock, raising net proceeds of approximately **$167.6 million**[127](index=127&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=ITEM%202.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management attributes strong **30.1%** year-over-year revenue growth to increased semiconductor demand, with improved gross margin and strengthened liquidity from increased cash from operations Revenue by Segment (Q1 2021 vs. Q1 2020) | Segment | Q1 2021 Revenue (In millions) | Q1 2020 Revenue (In millions) | % Change | | :--- | :--- | :--- | :--- | | Products | $345.6 | $259.4 | 33.2% | | Services | $72.0 | $61.5 | 17.1% | | **Total** | **$417.6** | **$320.9** | **30.1%** | Gross Margin by Segment (Q1 2021 vs. Q1 2020) | Segment | Q1 2021 Gross Margin | Q1 2020 Gross Margin | | :--- | :--- | :--- | | Products | 17.9% | 17.2% | | Services | 34.6% | 34.1% | | **Total Company** | **20.8%** | **20.5%** | - Cash and cash equivalents increased by **$64.0 million** during the quarter, ending at **$264.3 million**; net cash from operating activities was **$65.6 million**, a substantial increase from **$15.7 million** in the prior-year period[149](index=149&type=chunk) - Total contractual obligations as of March 26, 2021, were **$660.9 million**, which includes operating leases, borrowing arrangements, a common stock purchase obligation, and purchase order commitments[172](index=172&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=31&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) No significant changes were reported regarding the company's quantitative and qualitative market risk disclosures from the prior annual report - There were no significant changes to the company's market risk disclosures during the first quarter of 2021[174](index=174&type=chunk) [Controls and Procedures](index=31&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management, including the CEO and CFO, deemed disclosure controls and procedures effective, with no material changes in internal control over financial reporting during the quarter - Management concluded that disclosure controls and procedures were effective as of the end of the period covered by the report[175](index=175&type=chunk) - No changes in internal controls over financial reporting that have materially affected, or are reasonably likely to materially affect, internal control were identified during the quarter[176](index=176&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=32&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) The company is involved in ordinary course legal proceedings, none of which are anticipated to have a material adverse effect on financial condition or results - The company does not believe that any current legal proceedings or claims will have a material adverse effect on its consolidated financial condition or results of operations[179](index=179&type=chunk) [Risk Factors](index=32&type=section&id=ITEM%201A.%20RISK%20FACTORS) No material changes were reported to the risk factors previously disclosed in the company's 2020 Annual Report on Form 10-K, as updated - No material changes to the risk factors disclosed in the 2020 Form 10-K (as updated) were reported during the quarter[180](index=180&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=32&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) The company reported no unregistered sales of equity securities or use of proceeds during the period - None reported[181](index=181&type=chunk) [Exhibits](index=32&type=section&id=ITEM%206.%20EXHIBITS) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and Inline XBRL financial data files - The exhibits filed with the report include CEO and CFO certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act, as well as XBRL documents[185](index=185&type=chunk) Signatures

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Q1 2021 Earnings Conference Call April 28, 2021 4:45 PM ET Company Participants Rhonda Bennetto - VP, IR James Scholhamer - CEO & Director Sheri Savage - SVP, Finance & CFO Conference Call Participants Nathaniel Bolton - Needham & Company J. Ho - Stifel, Nicolaus & Company Thomas Diffely - D.A. Davidson & Co. Christian Schwab - Craig-Hallum Capital Group Richard Ryan - Colliers Securities Operator Good day, and welcome to the Ultra Clean First Quarter 2021 Conference ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of Registrant as specified in its charter) Delaware 61-1430858 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 25, 2020 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 000-50646 Ultra Clean Holdings, Inc. (State or other jurisdict ...

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Q4 2020 Earnings Conference Call February 17, 2021 4:45 PM ET Company Participants Rhonda Bennetto – Investor Relations Jim Scholhamer – Chief Executive Officer Sheri Savage – Chief Financial Officer Conference Call Participants Tom Diffely – D.A. Davidson Krish Sankar – Cowen and Company Quinn Bolton – Needham & Company Patrick Ho – Stifel Christian Schwab – Craig-Hallum Capital Group Operator Good afternoon, and welcome to the Ultra Clean Fourth Quarter and Full Ye ...

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 25, 2020 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 000-50646 Ultra Clean Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 61-1430858 (State or other ...

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Q3 2020 Earnings Conference Call October 28, 2020 4:45 PM ET Company Participants Rhonda Bennetto - Investor Relations Jim Scholhamer - Chief Executive Officer Sheri Savage - Chief Financial Officer Conference Call Participants Charles Shi - Needham & Company Patrick Ho - Stifel Tom Diffely - D.A. Davidson Operator Good afternoon and welcome to the Ultra Clean Third Quarter Conference Call. [Operator Instructions]. Please note, this event is being recorded. I would l ...