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KLA
KLA (KLAC) investor relations material
KLA Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary29 Jan, 2026
Executive summary
Achieved record 2025 revenue of $12.745 billion, up 17% year-over-year, with strong growth in process control, memory, and advanced packaging, driven by AI demand and robust profitability metrics.
December quarter revenue was $3.3 billion, with non-GAAP EPS of $8.85, GAAP EPS of $8.68, and net income of $1.15 billion.
Maintained industry-leading gross margin of 62.8% and operating margin of 43.6% for 2025.
Free cash flow increased 30% to $4.4 billion for 2025; $3 billion returned to shareholders via dividends and buybacks.
Positioned as a key enabler in the AI ecosystem, benefiting from infrastructure buildout across foundry/logic, memory, advanced packaging, and services.
Financial highlights
December quarter revenue grew 17% year-over-year, driven by leading-edge foundry logic, HBM, and DRAM investments.
Gross margin for the quarter was 61.4%–62.6%, above guidance midpoint; operating margin improved year-over-year.
Non-GAAP net income for the year was $4.56 billion; GAAP net income was $4.56 billion.
Free cash flow for the quarter reached a record $1.26 billion; cash and equivalents at quarter-end were $5.21 billion.
Capital returns were $797.4 million for the quarter and $3.01 billion for the last twelve months.
Outlook and guidance
2026 WFE market expected to grow high single- to low double-digits, reaching low $120 billion; advanced packaging to $12 billion.
March quarter revenue guidance: $3.35 billion ± $150 million; non-GAAP gross margin 61.75% ± 1 ppt; non-GAAP EPS $9.08 ± $0.78.
2026 gross margin expected at ~62% ± 50 bps, with operating expenses rising sequentially by ~$15 million per quarter.
2026 planning tax rate set at 14.5%.
Second half 2026 revenue expected to accelerate, with high single- to low double-digit growth half-over-half.
How does AI infrastructure buildout impact KLA
What is the outlook for the PCB business segment
Discuss capital allocation priorities for FY26
WFE forecast: clarify AP market inclusion
DRAM cost impact on 2026 GM & pass-through
H1 2026 supply constraints: primary drivers?
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Latest summaries
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Statutory loss reported, seeds business repositioned, new CEO appointed, all resolutions passed.
Next KLA earnings date
Q3 202629 Apr, 2026
KLA
Next KLA earnings date
Q3 202629 Apr, 2026
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Frequently asked questions
Semiconductor Process Control and Management
KLA Corporation specializes in developing and manufacturing process control and yield management systems for the semiconductor industry. The company's products and services are designed to enhance the production and performance of integrated circuits and other microelectronics.
KLA's offerings include advanced inspection, metrology, and data analytics systems that enable semiconductor manufacturers to improve quality control, optimize production processes, and achieve higher yields. The company is headquartered in Milpitas, California, and its shares are listed on the NASDAQ.
KLA's Areas of Focus and Customer Groups
The company's core business revolves around the development and supply of advanced inspection, metrology, and data analytics tools. These tools are integral to the semiconductor manufacturing process, as they help identify and correct defects at various stages of production, thereby enhancing yield, improving device performance, and reducing production costs.
KLA's inspection systems are used to detect and analyze defects on wafers, photomasks, reticles, and even during the packaging process. These defects, if not detected early, can lead to significant issues in the final product, making KLA's solutions essential for maintaining the integrity and reliability of semiconductor devices. Their metrology tools, on the other hand, are used to measure critical dimensions, film thicknesses, and other key parameters, ensuring that the manufacturing process adheres to the precise specifications required for advanced semiconductor devices.
Beyond hardware, KLA also provides software and services. The company offers sophisticated data analytics solutions that leverage artificial intelligence (AI) and machine learning to predict potential issues and optimize production processes. This integration of hardware and software enables KLA’s customers to gain deeper insights into their manufacturing processes, facilitating continuous improvement and innovation.
KLA serves a wide range of customers, including semiconductor manufacturers, foundries, and electronic components suppliers. The company’s products are vital not only for cutting-edge semiconductor technologies, such as those used in smartphones and data centers, but also for fields like advanced packaging, automotive electronics, and the Internet of Things (IoT).
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