Photronics Posts Q4 Profit on $215.8 Million Revenue, Sets Steady Q1 Outlook

Overview

• Fiscal Q4 2025 produced GAAP net income of $61.8 million, or $1.07 per share, on $215.8 million in revenue, with non-GAAP EPS at $0.60; full-year revenue was $849.3 million with GAAP net income of $136.4 million.
• Reported earnings benefited from a $16.8 million reversal of a deferred tax valuation allowance, which lifted GAAP results relative to non-GAAP metrics.
• For Q1 fiscal 2026, the company forecasts revenue of $217 million to $225 million and non-GAAP EPS of $0.51 to $0.59.
• CEO George Macricostas highlighted particular strength in the United States and pointed to a Korea capability extension aimed at diversifying revenue and gaining exposure to leading-edge chip designs.
• Quarter-end cash, cash equivalents and short-term investments totaled $588.2 million, including $422.3 million tied to joint ventures, as Photronics generated $87.8 million in Q4 operating cash flow and invested $67.5 million in capital expenditures.