Universal Display(OLED) - 2025 Q3 - Quarterly Results

Revenue Performance - Total revenue for Q3 2025 was $139.6 million, down from $161.6 million in Q3 2024, representing a decrease of approximately 13.0%[4] - Revenue from material sales in Q3 2025 was $82.6 million, slightly down from $83.4 million in Q3 2024, a decrease of about 1.0%[4] - Revenue from royalty and license fees decreased to $53.3 million in Q3 2025 from $74.6 million in Q3 2024, a decline of approximately 28.5%[4] - For the first nine months of 2025, total revenue was $477.7 million, slightly down from $485.4 million in the same period of 2024, a decrease of about 1.4%[7] - Total revenue for Q3 2025 was $139.6 million, a decrease of 13.6% compared to $161.6 million in Q3 2024[21] - Material sales amounted to $82.6 million, slightly down from $83.4 million in the same quarter last year[21] Income and Profitability - Operating income for Q3 2025 was $43.1 million, compared to $67.0 million in Q3 2024, reflecting a decrease of about 35.7%[4] - Net income for Q3 2025 was $44.0 million, or $0.92 per diluted share, down from $66.9 million, or $1.40 per diluted share in Q3 2024, a decline of approximately 34.2%[4] - Net income for the nine months ended September 30, 2025, was $175.7 million, compared to $176.1 million for the same period in 2024[23] - Basic net income per share for Q3 2025 was $0.93, down from $1.40 in Q3 2024[21] Margins and Tax Rates - Total gross margin for Q3 2025 was 75%, down from 78% in Q3 2024[4] - The effective income tax rate for Q3 2025 was 18.7%, compared to 17.9% in Q3 2024[4] Cash and Assets - Cash and cash equivalents increased to $121.6 million as of September 30, 2025, from $99.0 million at the end of 2024[19] - Total assets rose to $1.95 billion as of September 30, 2025, compared to $1.83 billion at the end of 2024[19] - Total current assets increased to $1.04 billion as of September 30, 2025, from $899.8 million at the end of 2024[19] Dividends - A fourth quarter cash dividend of $0.45 per share was announced, payable on December 31, 2025[11] - The company declared cash dividends of $0.45 per share in Q3 2025, up from $0.40 per share in Q3 2024[21] Guidance - The company revised its 2025 revenue guidance to the lower end of the previous range, now expecting around $650 million to $700 million[10]