Lam Research said revenue for September 2024 rose 8% from June 2024. The company cited increased investment in the DRAM market segment as the driver of higher systems revenue, along with an increase in customer support-related revenue.

10-QQuarterly reportFiled Oct 28, 2024Period of report Sep 29, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Lam Research said revenue for September 2024 rose 8% from June 2024. The company cited increased investment in the DRAM market segment as the driver of higher systems revenue, along with an increase in customer support-related revenue.
Lam Research said gross margin as a percentage of revenue for September 2024 was higher than in June. The company cited improved factory efficiencies as the main factor, and said increased incentive compensation expense partially offset the gain.
Lam Research said its cash, cash equivalents, and restricted cash balances increased to $6.1 billion as of September 29, 2024 from $5.9 billion as of June 30. The company said higher operating cash flow of $1,568.5 million was partially offset by share repurchases of $997.0 million, dividends of $261.0 million, and capital expenditures of $110.6 million.
Lam Research said its deferred revenue balance at the end of September 2024 rose to $2,047.0 million from $1,551.6 million at the end of June. The company cited an increase in customer advanced deposits as the main factor.

Key figures

Quarter ended September 29, 2024

Revenue: $4.2B
Operating income: $1.3B
Net income: $1.1B
EPS: $0.86
Gross profit: $2.0B
Operating cash flow: $1.6B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

September Revenue Growth and DRAM Investment

Lam Research said revenue for September 2024 rose 8% from June 2024. The company cited increased investment in the DRAM market segment as the driver of higher systems revenue, along with an increase in customer support-related revenue.

Source · Based on the MD&A text of the filing

Gross Margin Changes and Company Explanation

Lam Research said gross margin as a percentage of revenue for September 2024 was higher than in June. The company cited improved factory efficiencies as the main factor, and said increased incentive compensation expense partially offset the gain.

Source · Based on the MD&A text of the filing

Cash Balance and Major Cash Uses

Lam Research said its cash, cash equivalents, and restricted cash balances increased to $6.1 billion as of September 29, 2024 from $5.9 billion as of June 30. The company said higher operating cash flow of $1,568.5 million was partially offset by share repurchases of $997.0 million, dividends of $261.0 million, and capital expenditures of $110.6 million.

Source · Based on the MD&A text of the filing

Deferred Revenue Balance and Customer Advances

Lam Research said its deferred revenue balance at the end of September 2024 rose to $2,047.0 million from $1,551.6 million at the end of June. The company cited an increase in customer advanced deposits as the main factor.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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