Companies /Technology

Ichor Holdings Ltd

NASDAQ: ICHR Semiconductor Equipment & Materials
$59.09
â–² $1.47 (+2.55%) today
Markets closed · 12:15am ET

Q2 2025 Earnings

Reported Aug 4, 2025, 4:12pm ET · SEC source
$0.03
Miss −79.01%
EPS · est. $0.14
$240.3M
Beat +2.46%
Revenue · est. $234.5M
+17.0%
Beating market
ICHR vs S&P since report
3 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−20%0Aug 4Aug 5report 4:12pm ETearnings−0.6%−27.5%
−20%0Aug 4Aug 5earnings−0.6%−27.5%
ICHR −27.5%S&P 500 −0.6%
−20%0Aug 4Aug 5report 4:12pm ETearnings−1.1%−27.5%
−20%0Aug 4Aug 5earnings−1.1%−27.5%
ICHR −27.5%NASDAQ −1.1%
0+20%Aug 4Aug 12report 4:12pm ETearnings+1.6%+16.8%
0+20%Aug 4Aug 12earnings+1.6%+16.8%
ICHR +16.8%S&P 500 +1.6%
0+20%Aug 4Aug 12report 4:12pm ETearnings+2.6%+16.8%
0+20%Aug 4Aug 12earnings+2.6%+16.8%
ICHR +16.8%NASDAQ +2.6%
−30.19%
Day of report
+3.56%
Next session
+34.50%
One week
+20.06%
30 days

S&P 500 over the same 30 days: +3.07%.

Did ICHR Beat Earnings? Q2 2025 Results

Ichor Holdings delivered a mixed second quarter for 2025, beating on revenue while falling well short on earnings as one-time restructuring costs weighed heavily on the bottom line. The company posted revenue of $240.28 million, clearing the $234.51 million consensus estimate by 2.46% and marking 18.2% growth year over year, yet non-GAAP diluted EPS of $0.03 missed the $0.14 consensus by 79.01%, sending shares sharply lower. The primary culprit was $4.30 million in operating-level charges tied to the exit of Ichor's Scotland facility, which included inventory write-offs, lease impairments, accelerated depreciation, and severance, compressing GAAP gross margins to 11.3% and widening the net loss to $9.41 million. Free cash flow swung to negative $14.80 million as accounts payable declined and capital spending continued. Looking ahead, management guided Q3 revenue of $225 million to $245 million with non-GAAP EPS of $0.06 to $0.18, projecting improved profitability as Scotland-related costs fade, while CEO Jeff Andreson expressed confidence that Ichor will outperform wafer fab equipment industry growth for the full year.

Key Takeaways
  • Revenue above midpoint of prior guidance range
  • 18.2% year-over-year revenue growth driven by semiconductor capital equipment demand
  • Expansion of proprietary product portfolio
  • Non-GAAP operating margin expanded to 2.6% from 2.2% year-over-year

“Within a relatively steady customer demand environment year-to-date, we continue to make progress driving the expansion of our proprietary product portfolio.”

Ichor Holdings CEO, on the earnings call

Forward Guidance & Outlook

For Q3 2025, Ichor guided revenue of $225 million to $245 million (midpoint $235 million), GAAP diluted EPS of $(0.12) to $0.00 (midpoint $(0.06)), and non-GAAP diluted EPS of $0.06 to $0.18 (midpoint $0.12). The non-GAAP outlook excludes approximately $2.1 million in amortization of intangible assets and approximately $4.4 million in share-based compensation expense. Management expects 2025 to be a solid revenue growth year and anticipates outperforming the expected growth of the wafer fab equipment industry.

ICHR YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$90.0M$180.0M$203.2M$240.3MRevenue$25.6M$27.2MGross Profit$-58,947,368$-9,408,000Net Income
$0$90.0M$180.0MRevenueGross ProfitNet Income

Figures from SEC filings and company reports. Not investment advice.