Universal Display Corp. (OLED) reported $172.93 million in revenue for the quarter ended December 2025, representing a year-over-year increase of 6.6%. EPS of $1.39 for the same period compares to $1.22 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $173.25 million, representing a surprise of -0.19%. The company delivered an EPS surprise of +9.02%, with the consensus EPS estimate being $1.28.While investors closely watch year-over-year changes in headline numbers -- revenue and ...

Financial Data and Key Metrics Changes - Universal Display reported record revenue of $651 million for 2025, with operating income of $249 million and net income of $242 million, translating to $5.08 per diluted share [4][15] - Total gross margin for 2025 was 76%, down from 77% in 2024, while operating expenses decreased to $248 million from $260 million in 2024 [14][15] - Fourth quarter revenue for 2025 was $173 million, up 7% from $162 million in Q4 2024, with a net income of $66 million or $1.39 per diluted share compared to $46 million or $0.96 per diluted share in Q4 2024 [15][17] Business Line Data and Key Metrics Changes - Material sales for 2025 were $353 million, royalty and license revenues were $275 million, and Adesis revenues were $23 million [14] - In Q4 2025, material sales were $96 million, with green emitter sales at $74 million and red emitter sales at $21 million [16] Market Data and Key Metrics Changes - Global OLED shipments are projected to surpass 1.4 billion units by 2030, with significant growth expected in IT applications and automotive OLED shipments [10][11] - OLED smartphone shipments are expected to grow from 810 million units in 2025 to 967 million units by 2030, while OLED IT shipments are forecasted to triple from 27 million to 92 million units over the same period [10] Company Strategy and Development Direction - The company is focused on expanding R&D efforts, strengthening its intellectual property framework, and broadening its global infrastructure to support the next phase of growth in the OLED industry [4][5] - Investments in in-house materials discovery and AI-driven research capabilities are aimed at enhancing innovation and supporting multiple device architectures [9][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing adoption of OLED technology across various consumer electronics and highlighted the importance of phosphorescent materials in driving efficiency and performance [4][21] - The company anticipates 2026 revenues in the range of $650 million to $700 million, with gross margins expected to be approximately 74%-76% due to higher raw material pricing [18][19] Other Important Information - The company repurchased approximately 454,000 shares of common stock for $53 million and increased its quarterly cash dividend to $0.50 per share [19][20] - The company ended 2025 with $955 million in cash, cash equivalents, and investments, indicating strong financial health [15] Q&A Session Summary Question: Outlook for blue phosphorescent materials - Management indicated that they are on the right path with blue materials, working with multiple customers on development efforts, but progress largely depends on customer commercialization [23][25] Question: Inventory trends and cumulative catch-up payments - Management noted that inventory issues related to tariff buying have mostly resolved and that cumulative catch-up payments were due to revisions in third-party forecasts [28][31] Question: Capacity additions and competitive environment in China - New Gen 8.6 fabs from Samsung and BOE are expected to add significant capacity, with benefits anticipated in the second half of the year [36][37] - The competitive environment in China has intensified, but the company maintains a strong patent position and continues to invest in local support [38][39] Question: Revenue guidance and royalty modeling - The revenue guidance for 2026 aligns with industry growth projections, considering various end markets, while the ratio of materials to licensing is expected to be around 1.3 to 1 [45][48]

Financial Data and Key Metrics Changes - Universal Display reported record revenue of $651 million for 2025, with operating income of $249 million and net income of $242 million, translating to $5.08 per diluted share [4][14] - Total gross margin for 2025 was 76%, down from 77% in 2024, while operating expenses decreased to $248 million from $260 million in the previous year [14][15] - Fourth quarter revenue for 2025 was $173 million, a 7% increase from $162 million in Q4 2024, with a gross margin of 76% [15][16] Business Line Data and Key Metrics Changes - Material sales for 2025 were $353 million, royalty and license revenues were $275 million, and Adesis revenues were $23 million [14] - In Q4 2025, material sales were $96 million, with green emitter sales at $74 million and red emitter sales at $21 million [16] Market Data and Key Metrics Changes - Global OLED shipments are projected to exceed 1.4 billion units by 2030, with significant growth in IT applications and automotive OLED shipments expected to rise from 3 million in 2025 to 14 million by 2030 [10][11] - OLED smartphone shipments are forecasted to grow from 810 million units in 2025 to 967 million units by 2030 [10] Company Strategy and Development Direction - The company is focused on expanding R&D efforts, strengthening intellectual property, and broadening global infrastructure to support the next phase of OLED growth [4][5] - Investments in new materials and technologies are aimed at enabling performance and scalability in the evolving OLED landscape, including the development of phosphorescent blue materials [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing growth of the OLED market, driven by diverse applications and increasing performance expectations [10][21] - The company anticipates 2026 revenues in the range of $650 million to $700 million, with gross margins expected to be around 74%-76% due to higher raw material costs [18][19] Other Important Information - The company repurchased approximately 454,000 shares for $53 million and increased its quarterly cash dividend to $0.50 per share [19][20] - The company has a strong balance sheet with $955 million in cash and investments, enabling continued investment in growth initiatives [15][20] Q&A Session Summary Question: Outlook for blue phosphorescent materials - Management indicated that they are on the right path with blue materials, working with multiple customers on development efforts, but progress largely depends on customer commercialization [23][25] Question: Inventory trends and cumulative catch-up payments - Management noted that inventory issues related to tariff buying have mostly resolved and that cumulative catch-up payments were due to revisions in third-party forecasts [28][31] Question: Capacity additions and competitive environment in China - New Gen 8.6 fabs from Samsung and BOE are expected to add significant capacity, with benefits anticipated in the second half of 2026 [35][37] - The competitive environment in China has increased, but the company maintains a strong patent position and quality of materials [38][39] Question: Revenue guidance assumptions - The revenue guidance for 2026 aligns with industry growth projections and incorporates customer forecasts across various end markets [46][57]

Financial Data and Key Metrics Changes - Universal Display reported record revenue of $651 million for 2025, with operating income of $249 million and net income of $242 million, translating to $5.08 per diluted share [4][14] - Total gross margin for 2025 was 76%, a slight decrease from 77% in 2024, while operating expenses decreased to $248 million from $260 million in 2024 [13][14] - Fourth quarter revenue for 2025 was $173 million, up 7% from $162 million in Q4 2024, with a gross margin of 76% [14][15] Business Line Data and Key Metrics Changes - Material sales for 2025 were $353 million, royalty and license revenues were $275 million, and Adesis revenues were $23 million [13] - In Q4 2025, material sales were $96 million, with green emitter sales at $74 million and red emitter sales at $21 million [15] Market Data and Key Metrics Changes - Global OLED shipments are projected to surpass 1.4 billion units by 2030, with smartphone shipments expected to grow from 810 million units in 2025 to 967 million units by 2030 [10] - OLED IT shipments are forecasted to triple from 27 million to 92 million units over the same period, while automotive OLED shipments are expected to increase from 3 million in 2025 to 14 million units by 2030 [10][11] Company Strategy and Development Direction - The company is focused on expanding R&D efforts, strengthening its intellectual property framework, and broadening its global infrastructure to support the next phase of growth in the OLED industry [4][5] - Investments in in-house materials discovery and AI-driven research capabilities are aimed at enhancing innovation and supporting multiple device architectures [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing adoption of OLED technology across various consumer electronics and highlighted the importance of new applications and architectural advancements [10][20] - The company anticipates 2026 revenues in the range of $650 million to $700 million, with gross margins expected to be approximately 74%-76% due to higher raw material pricing [17][18] Other Important Information - The company repurchased approximately 454,000 shares of common stock for $53 million and increased its quarterly cash dividend to $0.50 per share [18] - Installed OLED capacity increased by approximately 10% between year-end 2023 and year-end 2025, with expectations for an additional 10% increase by the end of 2027 [12] Q&A Session Summary Question: Outlook for blue phosphorescent materials - Management indicated that they are on the right path with blue materials, working with multiple customers on development efforts, but progress largely depends on customer commercialization [23][25] Question: Inventory trends and cumulative catch-up payments - Management noted that inventory issues related to tariff buying have mostly resolved and that cumulative catch-up payments were due to revisions in third-party forecasts [29][31] Question: Capacity additions and Gen 8.6 launch - New fabs from Samsung and BOE are expected to add significant capacity, but full operations will not be realized until later in the year, impacting guidance for the second half [36][37] Question: Competitive environment in China - Management acknowledged increased competition in China but emphasized the quality of their materials and strong patent position as key advantages [39][40] Question: Guidance assumptions for 2026 - The guidance reflects industry growth projections and customer forecasts across various end markets, with considerations for potential downsides from component costs [45][46]

Peregrine Investment Management is a relatively small investment management firm, with just 19 holdings and $161 million in assets under management. And Universal Display isn’t the only stock it dropped between the third and fourth quarters of 2025. For example, it also liquidated a sizable holding in Circle Internet Group , a payment technology company and stablecoin issuer, which had been its third-largest position as of Nov. 6. In all, the firm’s assets under management dipped by $42.5 million dollars, o ...

Core Insights - Wall Street analysts expect Universal Display Corp. (OLED) to report quarterly earnings of $1.28 per share, reflecting a year-over-year increase of 4.9% [1] - Revenues are projected to be $173.25 million, which is a 6.8% increase from the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analysts' projections [1] Revenue Breakdown - Analysts estimate 'Revenue- Material sales' will reach $95.47 million, representing a 2.4% increase from the prior-year quarter [4] - 'Revenue- Contract research services' is expected to be $5.46 million, indicating an 18.3% increase from the prior-year quarter [4] - 'Revenue- Royalty and license fees' is projected to arrive at $72.31 million, reflecting a 12.3% increase from the year-ago quarter [5] Market Performance - Universal Display shares have shown a return of +7.4% over the past month, contrasting with the Zacks S&P 500 composite's -1.7% change [5] - The company holds a Zacks Rank 3 (Hold), suggesting it is expected to perform in line with the overall market in the near future [5]

在昨天（2月9日）举行的全省建设一流创新生态打造最具竞争力营商环境大会上，温州锌芯钛晶科技有限公司参与的"低维结构钙钛矿材料设计与高效发光 显示器件构筑"项目荣获2024年度浙江省科学技术自然科学奖一等奖。记者近日走进这家新兴科技企业，感受企业在科研"无人区"破浪前行、在产业"新赛 道"加速领跑的勃勃生机。 这几天，温州锌芯钛晶科技有限公司副总经理刘海鹏正忙着新车间的装修和2条新生产线的安装调试。走进新车间，一条刚投产的量子点扩散板生产线正有 条不紊地运行，刘海鹏说，这条生产线全长45米，是在原有产线基础上完成的迭代升级与优化提升。刘海鹏说，新生产线的投用有效提升了公司产能，目前 公司订单已经排满，各条生产线正满负荷运转。 虽然是年轻企业，但公司的研发团队早在2012年便在浙江大学启动钙钛矿材料发光研究，历经十年潜心攻关，攻克了钙钛矿量子点稳定性的世界难题，做出 的量子点扩散板等产品，能大幅提升电视等显示屏的色域和色彩还原度，让屏幕色彩更饱满真实。 日前，公司创始研发团队研发的"低维结构钙钛矿材料设计与高效发光显示器件构筑"项目，荣获2024年度浙江省科学技术自然科学奖一等奖。何海平说，未 来，锌芯钛晶将不断 ...

Core Viewpoint - The company is advancing its MicroLED micro-display technology for AR-AI applications through collaboration with leading universities and ongoing prototype validation [2] Group 1: Company Developments - The company is leveraging its long-term R&D and engineering expertise in the Mini/Micro-LED field [2] - Collaboration is established with institutions such as the University of Science and Technology of China and Hefei University of Technology to enhance research capabilities [2] - The company is currently conducting orderly prototype validation work related to the MicroLED technology [2]

Group 1: AI and AR Technology Development - The company is advancing the MicroLED micro-display technology for AR-AI applications in collaboration with universities, with prototype validation currently underway [2] - The focus is on achieving full-color MicroLED technology through long-term R&D in the Mini/Micro-LED field [2] Group 2: RGB Mini LED Backlight Technology - The company has been an early adopter of RGB-Mini LED backlight technology, collaborating with Hisense for performance breakthroughs since 2025 [3] - The global shipment of RGB-Mini LED TVs is projected to reach 500,000 units in 2026, representing a 25-fold year-on-year growth [3] Group 3: 2026 Performance Outlook - The net profit target for 2026 is set at RMB 189 million, with a trigger value of RMB 151.2 million based on the company's stock incentive plan [3] Group 4: Share Buyback Plan - The company plans to repurchase shares worth between RMB 10 million and RMB 20 million, having already repurchased 391,500 shares, which is 0.175% of the total share capital, for a total amount of RMB 7,720,646.34 [3] Group 5: Impact of Commodity Price Increases - The rise in commodity prices has increased raw material costs, but the company aims to offset this through product design, supply chain management, and improved production efficiency [3] - Long-term, price increases may facilitate industry consolidation and enhance the company's competitive edge in high-value Mini LED and RGB backlight products [3]

Core Viewpoint - AUO Corporation achieved a significant legal victory in a patent infringement case against Phenix Longhorn, LLC, with the jury ruling in favor of AUO and declaring one of the asserted patents invalid, marking a historic moment for Taiwanese companies in U.S. patent litigation [1][2]. Company Overview - AUO Corporation is a global leader in display technology, founded in 1996, with a focus on innovative, technology-oriented products and solutions across various sectors including healthcare, retail, and energy [5]. - The company has a global workforce of 41,000 employees and operates in Asia, the U.S., and Europe [5]. - In 2025, AUO reported consolidated net revenue of USD 9.04 billion [5]. Intellectual Property and Innovation - AUO has over 32,000 patent applications and more than 24,700 patents issued worldwide, with 97 percent of its R&D innovations classified as invention patents [4]. - The company has been recognized as one of the Clarivate Top 100 Global Innovators for five consecutive years, highlighting its commitment to innovation [4]. Legal and Strategic Position - The outcome of the trial reinforces AUO's stance against unfounded claims and demonstrates its readiness to defend its rights and interests in the face of legal challenges [2]. - The victory is particularly significant as it is the first defense verdict for a Taiwanese company in a patent case against an American entity in the Eastern District of Texas in over 22 years [1].