Kulicke & Soffa Reports Fourth Quarter 2025 Results

About this update from Kulicke And Soffa Industries, Inc.

SINGAPORE , Nov. 19, 2025 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (" Kulicke & Soffa ," "K&S," "our," or the "Company"), today announced financial results of its fourth fiscal quarter ended October 4, 2025 . The Company reported fourth quarter net revenue of $177.6 million , net income of $6.4 million , representing EPS of $0.12 per fully diluted share, and non-GAAP net income of $14.9 million , representing non-GAAP EPS of $0.28 per fully diluted share. Quarterly Results Fiscal Q4 2025 Fiscal Q4 2024 Fiscal Q3 2025 Net Revenue $ 177,558 $ 181,319 $ 148,413 GAAP EPS – Diluted $ 0.12 $ 0.22 $ (0.06) Non GAAP EPS - Diluted $ 0.28 $ 0.34 $ 0.07 A reconciliation between the GAAP and non-GAAP adjusted results is provided in the financial tables included at the end of this press release. See also the "Use of non-GAAP Financial Results" section of this press release. Lester Wong , Kulicke & Soffa's Interim Chief Executive Officer and Chief Financial Officer, stated, "We continue to focus on multiple technology engagements and are increasingly encouraged by improving end market dynamics and order activity. Our global operations and supply chain teams are preparing for increased customer demand over the coming quarters." Fiscal Year 2025 Financial Highlights Net revenue of $654.1 million . Gross margin of 42.5%. Net income of $0.2 million or $0.004 per fully diluted share; non-GAAP net income of $11.0 million or $0.21 per fully diluted share. GAAP cash from operations of $113.6 million ; Adjusted free cash flow of $96.6 million . The Company repurchased a total of 2.4 million shares of common stock at a cost of $96.5 million . Cash, cash equivalents, and short-term investments were $510.7 million as of October 4, 2025 . Fourth Quarter Fiscal 2025 Financial Highlights Net revenue of $177.6 million . Gross margin of 45.7%. Net income of $6.4 million or $0.12 per share; non-GAAP net income of $14.9 million or $0.28 per fully diluted share. GAAP cash flow from operations of $7.4 million ; Adjusted free cash flow of $4.4 million . The Company repurchased a total of 0.5 million shares of common stock at a cost of $16.7 million . First Quarter Fiscal 2026 Outlook K&S currently expects net revenue in the first quarter of fiscal 2026 ending January 3, 2026 to be approximately $190 million +/- $10 million , GAAP diluted EPS to be approximately $0.18 +/- 10%, and non-GAAP diluted EPS to be approximately $0.33 +/- 10%. A reconciliation between the GAAP and non-GAAP financial outlook is provided in the financial tables included at the end of this press release. Earnings Conference Webcast A webcast to discuss these results will be held on November 20, 2025 , beginning at 8:00 am ET. The live webcast link, supplemental earnings presentation, and archived webcast will be available at investor.kns.com . To access the audio-only portion of the live webcast, parties may call +1-877-407-8037, or internationally, +1-201-689-8037. An audio-only replay of the webcast will also be available approximately one hour after the completion of the live call by calling +1-877-660-6853, or internationally, +1-201-612-7415 and referencing access code 13750876. Use of Non-GAAP Financial Results In addition to U.S. GAAP ("GAAP") results, this press release also contains the following non-GAAP financial results: income from operations, operating margin, net income, net margin, net income per fully diluted share and adjusted free cash flow. The Company's non-GAAP results exclude amortization related to intangible assets acquired through business combinations, costs associated with restructuring and severance, equity-based compensation, acquisition and integration costs, impairment relating to assets acquired through business combinations, long-lived asset impairment relating to business cessation or disposal, impairment relating to equity investments, income tax expense/benefit arising from discrete tax items triggered by acquisition, disposal of business (both via a sale or an abandonment), restructuring and significant changes in tax laws, gain/loss on disposal of business, as well as tax benefits or expenses associated with the foregoing non-GAAP items. The non-GAAP adjustments may or may not be infrequent or nonrecurring in nature, but are a result of periodic or non-core operating activities. These non-GAAP measures are consistent with the way management analyzes and assesses the Company's operating results. The Company believes these non-GAAP measures enhance investors' understanding of the Company's underlying operational performance, as well as their ability to compare the Company's period-to-period financial results and the Company's overall performance to that of its competitors. Management uses both GAAP metrics as well as these non-GAAP metrics to evaluate the Company's operating and financial results. Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in the Company's industry, as other companies in the industry may calculate non-GAAP financial results differently. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by other companies and exclude expenses that may have a material impact on the Company's reported financial results. The presentation of non-GAAP items is meant to supplement, but not substitute for, GAAP financial measures or information. The Company believes the presentation of non-GAAP results in combination with GAAP results provides better transparency to the investment community when analyzing business trends, providing meaningful comparisons with prior period performance and enhancing investors' ability to view the Company's results from management's perspective. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP measure discussed in this press release is contained in the financial tables at the end of this press release. About Kulicke & Soffa Kulicke & Soffa is a global leader in semiconductor assembly technology, advancing device performance across automotive, compute, industrial, memory and communications markets. Founded on innovation in 1951, K&S is uniquely positioned to overcome increasingly dynamic process challenges – creating and delivering long-term value by aligning technology with opportunity. Caution Concerning Results, Forward-Looking Statements and Certain Risks Related to our Business In addition to historical statements, this press release contains statements relating to future events and our future results. These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our judgments and future expectations concerning our business, including the importance and competitiveness of our advanced display products and other emerging technology transitions, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, failures, delays or other problems arising from the negotiations with the applicable works council or trade unions; failures, delays or other problems arising from regulatory or judicial review of the activities concerning the Company's cessation of its Electronics Assembly equipment business, the persistent macroeconomic headwinds on our business, actual or potential inflationary pressures, interest rate and risk premium adjustments, falling customer sentiment, or economic recession caused directly or indirectly by geopolitical tensions, our ability to develop, manufacture and gain market acceptance of new products, our ability to operate our business in accordance with our business plan and the other factors listed or discussed in our Annual Report on Form 10-K for the fiscal year ended September 28, 2024 , filed on November 14, 2024 , and our other filings with the Securities and Exchange Commission. Kulicke and Soffa Industries, Inc. is under no obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. Contact: Kulicke and Soffa Industries, Inc. Joseph Elgindy Finance P: +1-215-784-7518 KULICKE AND SOFFA INDUSTRIES, INC. CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three months ended Twelve months ended October 4 , 2025 September 28 , 2024 October 4 , 2025 September 28 , 2024 Net revenue $ 177,558 $ 181,319 $ 654,081 $ 706,232 Cost of sales 96,348 93,662 376,160 437,478 Gross profit 81,210 87,657 277,921 268,754 Selling, general and administrative 41,475 46,205 167,699 165,564 Research and development 38,847 38,763 149,616 151,214 Gain relating to cessation of business — — (75,987) — Impairment charges — — 39,817 44,472 Operating expenses 80,322 84,968 281,145 361,250 Income / (Loss) from operations 888 2,689 (3,224) (92,496) Interest income 5,852 7,423 23,834 34,230 Interest expense (39) (29) (134) (89) Income / (Loss) before income taxes 6,701 10,083 20,476 (58,355) Provision for income taxes 322 (2,034) 20,263 10,651 Net income / (loss) $ 6,379 $ 12,117 $ 213 $ (69,006) Net income / (loss) per share: Basic $ 0.12 $ 0.22 $ 0.004 $ (1.24) Diluted $ 0.12 $ 0.22 $ 0.004 $ (1.24) Cash dividends declared per share $ 0.205 $ 0.200 $ 0.820 $ 0.800 Weighted average shares outstanding: Basic 52,093 54,368 52,955 55,613 Diluted 52,464 54,871 53,193 55,613 KULICKE AND SOFFA INDUSTRIES, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (In thousands) (Unaudited) As of October 4 , 2025 September 28 , 2024 ASSETS Current assets Cash and cash equivalents $ 215,708 $ 227,147 Short-term investments 295,000 350,000 Accounts and other receivable, net of allowance for doubtful accounts of $ - and $49 , respectively 183,538 193,909 Inventories, net 160,225 177,736 Prepaid expenses and other current assets 47,064 46,161 Total current assets 901,535 994,953 Property, plant and equipment, net 58,993 64,823 Operating right-of-use assets 32,193 35,923 Goodwill 69,522 89,748 Intangible assets, net 5,600 25,239 Deferred tax assets 16,109 17,900 Equity investments 6,978 3,143 Investment in debt securities 10,000 — Other assets 3,412 8,433 TOTAL ASSETS $ 1,104,342 $ 1,240,162 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 57,178 $ 58,847 Operating lease liabilities 6,178 7,718 Accrued expenses and other current liabilities 97,786 90,802 Income taxes payable 27,029 26,427 Total current liabilities 188,171 183,794 Deferred tax liabilities 35,533 34,594 Income taxes payable 16,580 31,352 Operating lease liabilities 32,372 33,245 Other liabilities 10,195 13,168 TOTAL LIABILITIES $ 282,851 $ 296,153 SHAREHOLDERS' EQUITY Common stock, without par value 620,043 596,703 Treasury stock, at cost (974,202) (881,830) Retained earnings 1,199,500 1,242,558 Accumulated other comprehensive loss (23,850) (13,422) TOTAL SHAREHOLDERS' EQUITY $ 821,491 $ 944,009 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,104,342 $ 1,240,162 KULICKE AND SOFFA INDUSTRIES, INC. CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Three months ended Twelve months ended (in thousands) October 4 , 2025 September 28 , 2024 October 4 , 2025 September 28 , 2024 Net cash provided by operating activities $ 7,406 $ 31,619 $ 113,565 $ 31,037 Net cash provided by / (used in) investing activities 1,502 (117,983) 27,663 (138,501) Net cash used in financing activities (38,508) (54,371) (153,072) (196,100) Effect of exchange rate changes on cash and cash equivalents (1,173) 965 405 1,309 Changes in cash and cash equivalents (30,773) (139,770) (11,439) (302,255) Cash and cash equivalents, beginning of period 246,481 366,917 227,147 529,402 Cash and cash equivalents, end of period $ 215,708 $ 227,147 $ 215,708 $ 227,147 Short-term investments 295,000 350,000 295,000 350,000 Total cash, cash equivalents and short-term investments $ 510,708 $ 577,147 $ 510,708 $ 577,147 Reconciliation of U.S. GAAP to Non-GAAP Income from Operations and Operating Margin (In thousands, except percentages) (Unaudited) Three months ended October 4 , 2025 September 28 , 2024 June 28 ,2025 Net revenue $ 177,558 $ 181,319 $ 148,413 U.S. GAAP income / (loss) from operations 888 2,689 (6,094) U.S. GAAP operating margin 0.5 % 1.5 % (4.1) % Pre-tax non-GAAP items: Amortization related to intangible assets 308 1,266 308 Restructuring 2,797 2,294 287 Equity-based compensation 7,800 6,439 7,092 Non-GAAP income from operations $ 11,793 $ 12,688 $ 1,593 Non-GAAP operating margin 6.6 % 7.0 % 1.1 % Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income and Non-GAAP Net Margin and U.S. GAAP net income per share to Non-GAAP net income per share (In thousands, except percentages and per share data) (Unaudited) Twelve months ended Three months ended October 4 , 2025 October 4, 2025 September 28, 2024 June 28 ,2025 Net revenue $ 654,081 $ 177,558 $ 181,319 $ 148,413 U.S. GAAP net income / (loss) 213 6,379 12,117 (3,289) U.S. GAAP net margin 0.03 % 3.6 % 6.7 % (2.2) % Non-GAAP adjustments: Amortization related to intangible assets 3,033 308 1,266 308 Restructuring 12,719 2,797 2,294 287 Equity-based compensation 28,526 7,800 6,439 7,092 Impairment charges 39,817 — — — Gain relating to cessation of business (75,987) — — — Income tax benefit - US one-time transition tax — — (6,461) — Net income tax expense / (benefit) on non-GAAP items 2,673 (2,411) 2,866 (626) Total non-GAAP adjustments $ 10,781 $ 8,494 $ 6,404 $ 7,061 Non-GAAP net income $ 10,994 $ 14,873 $ 18,521 $ 3,772 Non-GAAP net margin 1.7 % 8.4 % 10.2 % 2.5 % U.S. GAAP net per share: Basic $ 0.004 $ 0.12 $ 0.22 $ (0.06) Diluted(a) $ 0.004 $ 0.12 $ 0.22 $ (0.06) Non-GAAP adjustments per share:(b) Basic $ 0.206 $ 0.16 $ 0.12 $ 0.13 Diluted $ 0.206 $ 0.16 $ 0.12 $ 0.13 Non-GAAP net income per share: Basic $ 0.21 $ 0.28 $ 0.34 $ 0.07 Diluted(c) $ 0.21 $ 0.28 $ 0.34 $ 0.07 Weighted average shares outstanding: Basic 52,955 52,093 54,368 52,692 Diluted 53,193 52,464 54,871 52,866 (a) GAAP diluted net earnings per share reflects any dilutive effect of outstanding restricted stock, but that effect is excluded when calculating GAAP diluted net loss per share because it would be anti-dilutive. (b) Non-GAAP adjustments per share include amortization related to intangible assets acquired through business combinations, costs associated with restructuring and severance, equity-based compensation expenses, impairment relating to assets acquired through business combinations, long-lived asset impairment relating to business cessation or disposal, gain relating to disposal or cessation of business, and income tax effects associated with the foregoing non-GAAP items. (c) Non-GAAP diluted net earnings per share reflects any dilutive effect of outstanding restricted stock, but that effect is excluded when calculating Non-GAAP diluted net loss per share because it would be anti-dilutive. Reconciliation of U.S. GAAP Cash provided by Operating Activities to Non-GAAP Adjusted Free Cash Flow (In thousands, except percentages) (unaudited) Twelve months ended Three months ended October 4 , 2025 October 4 , 2025 September 28 , 2024 June 28 ,2025 U.S. GAAP net cash provided by operating activities $ 113,565 $ 7,406 $ 31,619 $ 7,380 Purchases of property, plant and equipment (17,203) (2,957) (2,468) (2,090) Proceeds from sales of property, plant and equipment 207 — 27 147 Non-GAAP adjusted free cash flow 96,569 $ 4,449 $ 29,178 $ 5,437 Reconciliation of U.S. GAAP to Non-GAAP Outlook (In millions, except per share data) (Unaudited) First quarter of fiscal 2026 ending January 3, 2026 GAAP Outlook Adjustments Non-GAAP Outlook Net revenue $190 million +/- $10 million — $190 million +/- $10 million Operating expenses $79.8 million +/- 2% $8.8 million B,C,D,E $71.0 million +/- 2% Diluted EPS(1) $0.18 +/- 10%% $0.15 A - F $0.33 +/- 10% Non-GAAP Adjustments A. Equity-based compensation - Cost of sales 0.4 B. Equity-based compensation - Selling, general and administrative and Research and development 6.8 C. Amortization related to intangible assets 0.3 D. Restructuring expenses 2.0 E. Gain relating to discontinued business (0.3) F. Net income tax effect of the above items (1.3) (1) GAAP and non-GAAP diluted EPS based on approximately 52.0 million diluted weighted average shares outstanding. The tables above reconcile our GAAP to non-GAAP guidance based on the current outlook. The guidance does not incorporate the impact of any potential business combinations, divestitures, unannounced restructuring activities, strategic investments and other significant transactions. The timing and impact of such items are dependent on future events that may be uncertain or outside of our control. 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