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Dec 29, 2025
TTM Technologies Q4 2025 Earnings Report
TTM Technologies reported strong fourth quarter and fiscal year 2025 results, with significant revenue growth and record non-GAAP net income per diluted share.
Key Takeaways
TTM Technologies delivered a robust performance in the fourth quarter of 2025, with net sales increasing by 19% year-over-year to $774.3 million. The company achieved a record non-GAAP net income of $74.8 million, or $0.70 per diluted share, driven by strong demand in Data Center Computing and Networking, particularly from generative AI, and healthy growth in Aerospace and Defense, and Medical, Industrial, and Instrumentation end markets.
Net sales for Q4 2025 reached $774.3 million, marking a 19% increase compared to Q4 2024.
Non-GAAP net income hit an all-time quarterly record high of $74.8 million, or $0.70 per diluted share.
Adjusted EBITDA for the quarter was $126.2 million, representing 16.3% of net sales, up from 14.7% in the prior year.
Cash flow from operations stood at $62.9 million, or 8.1% of net sales, demonstrating solid operational execution.
Revenue by Segment
Forward Guidance
For the first quarter of 2026, TTM Technologies anticipates net sales to be between $770 million and $810 million, with non-GAAP net income per diluted share projected to be in the range of $0.64 to $0.70. For the full fiscal year 2026, the company expects net sales growth in the range of 15% to 20%.
Positive Outlook
- Projected net sales for Q1 2026 are strong, ranging from $770 million to $810 million.
- Non-GAAP net income per diluted share for Q1 2026 is expected to be robust, between $0.64 and $0.70.
- Fiscal year 2026 net sales are forecasted to grow significantly, in the 15% to 20% range.
- Continued demand strength in Data Center Computing and Networking, driven by generative AI, is expected to fuel growth.
- Strategic priorities focusing on product innovation and optimized capacity are set to capitalize on growth opportunities.
Challenges Ahead
- The company is unable to predict certain items that may affect comparable GAAP measures for non-GAAP net income per diluted share.
- Reconciling items for non-GAAP net income per diluted share are highly variable and difficult to predict.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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