Sandisk said net revenue for 2025 increased 10%, or $692 million, compared to 2024, citing a 6% increase in exabytes sold and a 4% increase in average selling price per gigabyte.

1. 01

   Sandisk said net revenue for 2025 increased 10%, or $692 million, compared to 2024, citing a 6% increase in exabytes sold and a 4% increase in average selling price per gigabyte.

2. 02

   Gross profit increased $1,140 million in 2025 compared to 2024, the company said, citing improved pricing and product mix, with manufacturing underutilization charges of $252 million in 2024 and $75 million in 2025.

3. 03

   Sandisk said the separation from WDC was completed on February 21, 2025, and on the same day it borrowed $2.0 billion under the Term Loan Facility and made a net distribution payment of approximately $1.5 billion to WDC. The company said it had drawn no amounts under the $1.5 billion Revolving Credit Facility as of June 27, 2025.

4. 04

   Sandisk said that following the separation, a quantitative analysis indicated the estimated carrying value of its reporting unit exceeded its fair value, and it recorded a goodwill impairment charge of $1.8 billion during Q3 of fiscal 2025.

Key figures

Fiscal year ended June 27, 2025

Revenue

$7.4B

Operating income

−$1.4B

Net income

−$1.6B

EPS

−$11.32

Gross profit

$2.2B

Operating cash flow

$84M

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

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.