Timothy Breen, CEO, Niels Anderskouv, President and Chief Operating Officer, and Sam Franklin, CFO. A short while ago, we released GLOBALFOUNDRIES Inc.'s fourth quarter and full year 2025 financial results, which are available on our website at investors.gf.com, along with today's company slide presentation. This call is being recorded, and a replay will be made available on our investor relations webpage. During this call, we will present both IFRS and non-IFRS financial measures. The most directly compara ...

Q2 2025 Financial Performance - Total revenue for Q2 2025 was $591 million, a decrease of 37% year-over-year[59] - ATS development revenue in Q2 2025 was $526 million, a 15% decrease year-over-year[59] - Wafer Services revenue in Q2 2025 was $54 million, a 6% decrease year-over-year[59] - Tools revenue in Q2 2025 was $11 million, a 96% decrease year-over-year[59] - GAAP gross margin for Q2 2025 was 185%, a 20 basis points increase year-over-year[62] - Non-GAAP gross margin for Q2 2025 was 195%, a 60 basis points increase year-over-year[62] - Adjusted EBITDA for Q2 2025 was $23 million, a 72% decrease year-over-year[63] Fab 25 Acquisition and Outlook - The acquisition of Infineon's Fab 25 in Austin, TX was completed on June 30, funded by a $350 million credit facility[11] - The final purchase price of Fab 25 was approximately $93 million, including cash payment and working capital adjustment[11] - Fab 25 is expected to approximately double the company's annual revenue and adjusted EBITDA[11] - Q3 2025 Wafer Services revenue from Texas (Fab 25) is forecasted to be $75 million to $80 million[56]