Photronics, Inc. · NASDAQ:PLAB
Photronics — Q3 2026 Earnings Presentation
20 slides from Photronics's earnings presentation, Aug 26, 2026
Slide 1: Investor Presentation
PHOTRONICS Investor Presentation August 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement PHOTRONICS This presentation and some of our comments during this presentation may contain projections or other forward-looking statements regarding future events, our future financial performance, and/or the future performance of the industry. These statements are predictions
Slide 3: Corporate Overview
aie a i ax Corporate Overview
Slide 4: Photronics Overview
Photronics Overview (Nasdaq: PLAB) PHOTRONICS A Global Merchant Market Leader of Photomasks used in Lithographic Imaging for Semiconductor and Flat Panel Display production $867M $195M $308M $1.9B ~2,000 ~675 1969 Operating Operating Market Cap Revenue Employees Customers Founded Income Cash Flow 8/
Slide 5: Photomasks: Critical Enabler for IC and FPD Manufacturing
Photomasks: Critical Enabler for IC and FPD Manufacturing PHOTRONICS Photomasks are glass substrates used in lithographic systems to transfer the pattern of semiconductor and flat panel display designs Integrated Circuit (IC) photomasks Flat Panel Display (FPD) are used to transfer circuit patterns
Slide 6: Node Migration Drives Mask Set Value
Node Migration Drives Mask Set Value PHOTRONICS Mask pattern complexity / Mask count per IC Design / Impact of Mask performance on IC yield Currently participating Indicative Mask Value Planning to participate 130nm 90nm 65nm 40/45nm 22/28nm 12/14nm 7/8nm 2/3nm Mainstream High End Leading Edge 6 Dri
Slide 7: IC: Photomask Demand Growing With New Chip Designs
IC: Photomask Demand Growing With New Chip Designs PHOTRONICS ▪ Photomasks are the foundation of wafer manufacturing and critical to the semiconductor manufacturing process ▪ Photronics is a global merchant leader in mask production ▪ Advances in new semiconductor chip designs drive Photronics reven
Slide 8: Global Footprint Aligns with Regionalization Trends
Global Footprint Aligns with Regionalization Trends PHOTRONICS U.S. and Asia investments align with industry regionalization trends, and diversify geographic footprint Bridgend, Wales Boise, Idaho Cheonan, South Korea Hefei, China Only high-end capable Asia capacity and commercial mask maker in US.
Slide 9: FPD: Advanced Displays are Driving Innovation
FPD: Advanced Displays are Driving Innovation PHOTRONICS ▪ Photronics leverages expertise gained from IC mask production into FPD mask production ▪ Consumer electronics with larger, high-performance displays increase the complexity of mask production ▪ Panel makers are developing AMOLED production p
Slide 10: Competitive Advantages
Competitive Advantages PHOTRONICS Operational Commercial Technology Global Excellence Excellence Leader Footprint ▪ Responsive delivery ▪ Customer first ▪ Process expertise ▪ Customer relationships ▪ High yields ▪ Trusted partner ▪ Advanced Process- of-Record ▪ Aligned with end ▪ Cost control ▪ Wafe
Slide 11: Capital Expenditures
Capital Expenditures PHOTRONICS Capital Intensity Ratio 32% 29%-35% 2026 Capex Includes: ▪ Allen, TX facility expected to 22% recognize initial revenue associated 20% with the expansion in FQ4 17% 16% 15% 15% ▪ Korea clean room preparation 14% 12% complete for the capability extension to 8nm and bey
Slide 12: Compelling Investment Thesis
Compelling Investment Thesis PHOTRONICS A global leader in the merchant photomasks industry critical for semiconductor manufacturing Favorable Industry Trends Operational Excellence Regionalization/ Captives increasing Premier operational reshoring of the outsourcing to execution enables semiconduct
Slide 13: Fiscal Q3 2026 Financial Results
Fiscal Q3 2026 Financial Results
Slide 14: FQ3 2026 Summary
FQ3 2026 Summary PHOTRONICS Operating Non-GAAP Revenue Gross Margin Diluted EPS Margin Diluted EPS1 FQ3 2026 $216.0M 33.2% 21.1% $0.49 $0.50 FQ2 2026 $209.9M 31.3% 20.1% $0.54 $0.42 FQ3 2025 $210.4M 33.7% 22.9% $0.39 $0.51 ▪ Revenue reflects a modest recovery of previously delayed semiconductor desi
Slide 15: Revenue by Product Line
Revenue by Product Line PHOTRONICS IC FPD $M 3Q26 Q/Q Y/Y $M 3Q26 Q/Q Y/Y 15% 44% High-End* 68.5 21% 28% High-End* 52.3 (1%) (2%) 56% 85% Mainstream 86.2 (5%) (9%) Mainstream 9.1 (6%) (0%) High-End* Mainstream High-End* Mainstream Total 154.7 5% 5% Total 61.4 (2%) (2%) ▪ Release of some of the tempo
Slide 16: Balance Sheet and Cash Flow Metrics
Balance Sheet and Cash Flow Metrics PHOTRONICS $M 3Q26 2Q26 3Q25 ▪ Operating cash flow represented 35% of revenue with contributions across Asia and Cash, cash equivalents the U.S. and Short-term 672.8 637.7 575.8 investments Capital allocation: Debt 3.9 3.9 0.03 ▪ Organic growth investments: invest
Slide 17: FQ4 2026 Guidance
FQ4 2026 Guidance* PHOTRONICS Revenue ($M) 207 – 227 Assumptions: ▪ Market conditions recognized in FQ3 Operating Margin 19% - 24% expected to continue in FQ4 ▪ Allen, TX facility to recognize initial revenue in fiscal Q4 related to the Diluted non-GAAP EPS $0.40 - $0.56 expansion ▪ Updated Fiscal 2
Slide 18: Appendix
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Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures PHOTRONICS Non-GAAP Net Income attributable to Photronics, Inc. shareholders and non-GAAP diluted earnings per share attributable to Photronics, Inc. shareholders are non-GAAP financial measures as such term is defined by Regulation G of the Securities and Exchange Commis
Slide 20: Non-GAAP Financial Measures
Non-GAAP Financial Measures PHOTRONICS PHOTRONICS, INC. Reconciliation of U.S. GAAP to non-GAAP: Net income and diluted earnings per share attributable to Photronics, Inc. shareholders (in thousands, except per share amounts) (Unaudited) Three Months ended August 2, May 3, August 3, 2026 2026 2025 U