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Jun 27, 2025
Ultra Clean Q2 2025 Earnings Report
Ultra Clean reported a net loss due to a significant goodwill impairment, despite stable revenue and positive non-GAAP profitability in Q2 2025.
Key Takeaways
Ultra Clean saw steady revenue in Q2 2025 but posted a large net loss driven by a goodwill impairment. However, non-GAAP metrics remained positive, indicating operational strength excluding one-time charges.
Reported revenue held steady at $518.8 million, showing stability in core business.
A $151.1 million goodwill impairment drove a GAAP net loss of $162.0 million.
Non-GAAP net income was $12.1 million, or $0.27 per share.
Services segment gross margin remained strong at 28.0% GAAP and 29.9% non-GAAP.
Revenue by Segment
Forward Guidance
Ultra Clean expects Q3 2025 revenue to be stable, with continued non-GAAP profitability despite potential GAAP losses.
Positive Outlook
- Revenue guidance range of $480M to $530M signals continued business volume.
- Non-GAAP EPS forecast between $0.14 and $0.34 indicates operational profitability.
- Cost-reduction measures are underway to improve margins.
- Stable revenue expectation suggests consistent customer demand.
- Management expresses confidence in outperforming the semiconductor industry.
Challenges Ahead
- GAAP EPS guidance remains negative, between $(0.09) and $(0.29).
- Ongoing restructuring and impairment costs may impact future margins.
- Geopolitical and market volatility could impact semiconductor industry growth.
- Gross margin remains relatively low on both GAAP and non-GAAP bases.
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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