The company said revenue for March 2026 increased 9% compared with the three months ended December 28, 2025, which was the December 2025 quarter. It attributed the increase to higher systems revenue from increased customer investment in the DRAM market, and to higher customer support-related revenue from a larger installed base and higher spares, upgrades and services revenue.

10-QQuarterly reportFiled Apr 23, 2026Period of report Mar 29, 2026Summary published (UTC) Oct 2, 2026

Key points

AI summary

The company said revenue for March 2026 increased 9% compared with the three months ended December 28, 2025, which was the December 2025 quarter. It attributed the increase to higher systems revenue from increased customer investment in the DRAM market, and to higher customer support-related revenue from a larger installed base and higher spares, upgrades and services revenue.
The company said the rise in gross margin for the March 2026 quarter over the December 2025 quarter was mainly due to improved factory efficiencies. It cited higher operating expenses from employee-related costs, driven by beginning-of-calendar-year seasonality and higher headcount, and higher costs tied to workforce optimization.
The company said its cash, cash equivalents and restricted cash balances fell to $4.77 billion at the end of the March 2026 quarter from $6.20 billion at the end of the December 2025 quarter. It cited $1.16 billion of share repurchases, including net share settlement of employee stock-based compensation and excise tax; $751.2 million of principal payments on debt instruments and debt issuance costs; $331.6 million of capital expenditures; and $325.8 million of dividends paid. It said these outflows were partially offset by $1.14 billion of cash generated from operating activities.
The company said it settled $750.0 million in principal value of its 2026 Notes upon maturity during the March 2026 quarter, using available cash on hand. It also said it increased the issuance capacity under its commercial paper program from $1.50 billion to $2.00 billion in March 2026, and that it had no outstanding borrowings under the program as of March 29, 2026.

Key figures

Quarter ended March 29, 2026

Revenue: $5.8B
Operating income: $2.0B
Net income: $1.8B
EPS: $1.45
Gross profit: $2.9B

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.

Lam Research QMarch revenue up 9%

The company said revenue for March 2026 increased 9% compared with the three months ended December 28, 2025, which was the December 2025 quarter. It attributed the increase to higher systems revenue from increased customer investment in the DRAM market, and to higher customer support-related revenue from a larger installed base and higher spares, upgrades and services revenue.

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

Gross margin and operating expense changes

The company said the rise in gross margin for the March 2026 quarter over the December 2025 quarter was mainly due to improved factory efficiencies. It cited higher operating expenses from employee-related costs, driven by beginning-of-calendar-year seasonality and higher headcount, and higher costs tied to workforce optimization.

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

Cash and restricted cash down in March quarter

The company said its cash, cash equivalents and restricted cash balances fell to $4.77 billion at the end of the March 2026 quarter from $6.20 billion at the end of the December 2025 quarter. It cited $1.16 billion of share repurchases, including net share settlement of employee stock-based compensation and excise tax; $751.2 million of principal payments on debt instruments and debt issuance costs; $331.6 million of capital expenditures; and $325.8 million of dividends paid. It said these outflows were partially offset by $1.14 billion of cash generated from operating activities.

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

2026 Notes repaid at maturity; CP Program limit raised

The company said it settled $750.0 million in principal value of its 2026 Notes upon maturity during the March 2026 quarter, using available cash on hand. It also said it increased the issuance capacity under its commercial paper program from $1.50 billion to $2.00 billion in March 2026, and that it had no outstanding borrowings under the program as of March 29, 2026.

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

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