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Ultra Clean Reports Fourth Quarter and Full Year 2025 Financial Results
This is a paid press release. Contact the press release distributor directly with any inquiries.
Ultra Clean Reports Fourth Quarter and Full Year 2025 Financial Results
PR Newswire
Tue, February 24, 2026 at 6:05 AM GMT+9 14 min read
In this article:
UCTT
+3.82%
HAYWARD, Calif., Feb. 23, 2026 /PRNewswire/ – Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the fourth quarter and full year ended December 26, 2025.
(PRNewsfoto/Ultra Clean Holdings, Inc.)
“UCT delivered fourth quarter results in line with expectations, reflecting disciplined execution in a dynamic operating environment,” said James Xiao, CEO. “As AI adoption gains momentum, we are increasing our ramp-readiness initiatives and accelerating the speed of execution worldwide to align with roadmaps and position UCT to support the sustained, multi-year growth anticipated by our customers. With a strong global manufacturing network and a broad, differentiated Products and Services portfolio, UCT is well positioned to capture an outsized share of the many opportunities ahead.”
**Fourth Quarter 2025 GAAP Financial Results
**Total revenue was $506.6 million. Products contributed $442.4 million and Services added $64.2 million. Total gross margin was 15.2%, operating margin was 2.2%, and net loss was $(3.3) million or $(0.07) per diluted share. This compares to total revenue of $510.0 million, gross margin of 16.1%, operating margin of 2.1%, and net loss of $(10.9) million or $(0.24) per diluted share, in the prior quarter.
**Fourth Quarter 2025 Non-GAAP Financial Results
**On a non-GAAP basis, gross margin was 16.1%, operating margin was 4.9%, and net income was $10.0 million or $0.22 per diluted share. This compares to gross margin of 17.0%, operating margin of 5.7%, and net income of $12.9 million or $0.28 per diluted share in the prior quarter.
**Full Year 2025 GAAP Financial Results
**Total revenue was $2,054.0 million. Products contributed $1,799.3 million and Services added $254.7 million. Total gross margin was 15.7%, operating margin was (5.2)%, and net loss was $(181.2) million or $(4.00) per diluted share. This compares to total revenue of $2,097.6 million, gross margin of 17.0%, operating margin of 4.3%, and net income of $23.7 million or $0.52 per diluted share in the prior year. The financial results for fiscal year 2025 reflect a pre-tax, noncash charge of $151.1 million related to goodwill impairments.
**Full Year 2025 Non-GAAP Financial Results
**On a non-GAAP basis, the company reported gross margin of 16.5%, operating margin of 5.3%, and net income of $47.7 million or $1.05 per diluted share. This compares to gross margin of 17.5%, operating margin of 6.9%, and net income of $65.2 million or $1.44 per diluted share in the prior year.
**First Quarter 2026 Outlook
**The Company expects revenue in the range of $505 million to $545 million. The Company expects GAAP diluted net income (loss) per share to be between $(0.13) and $0.03 and non-GAAP diluted net income per share to be between $0.18 and $0.34.
**Conference Call
**The call will take place at 1:45 p.m. PT and can be accessed by dialing 1-800-836-8184 or 1-646-357-8785. No passcode is required. A replay of the call will be available by dialing 1-888-660-6345 or 1-646-517-4150 and entering the confirmation code 91919#. The Webcast will be available on the Investor Relations section of the Company’s website at http://uct.com/investors/events/.
**About Ultra Clean Holdings, Inc.
**Ultra Clean Holdings, Inc. is a leading developer and supplier of critical subsystems, components, parts, and ultra-high purity cleaning and analytical services, primarily for the semiconductor industry. Under its Products division, UCT offers its customers an integrated outsourced solution for major subassemblies, improved design-to-delivery cycle times, design for manufacturability, prototyping, and high-precision manufacturing. Under its Services Division, UCT offers its customers tool chamber parts cleaning and coating, as well as micro-contamination analytical services. Ultra Clean is headquartered in Hayward, California. Additional information is available at www.uct.com.
**Use of Non-GAAP Measures
**In addition to providing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”), management uses non-GAAP gross margin, non-GAAP operating margin and non-GAAP net income to evaluate the Company’s operating and financial results. We believe the presentation of non-GAAP results is useful to investors for analyzing our core business and business trends and comparing performance to prior periods, along with enhancing investors’ ability to view the Company’s results from management’s perspective. The presentation of this additional information should not be considered a substitute for results prepared in accordance with GAAP. Tables presenting reconciliations from GAAP results to non-GAAP results are included at the end of this press release.
The Company defines non-GAAP net income as net income (loss) before amortization of intangible assets, stock-based compensation, restructuring charges, legal-related costs, impairment of goodwill, debt refinancing costs, fair value adjustments, VAT settlement, acquisition activity costs, and the tax effects of the foregoing adjustments.
A reconciliation of our guidance for non-GAAP net income per diluted share for the subsequent quarter is not available due to fluctuations in the geographic mix of our earnings from quarter to quarter, which impacts our tax rate and cannot be reasonably predicted or determined. As a result, such reconciliation is not available without unreasonable efforts and we are unable to determine the probable significance of the unavailable information.
**Safe Harbor Statement
**The foregoing information contains, or may be deemed to contain, “forward-looking statements” (as defined in the US Private Securities Litigation Reform Act of 1995) which reflect our current views with respect to future events and financial performance. We use words such as “anticipates,” “projection,” “outlook,” “forecast,” “believes,” “plan,” “expect,” “future,” “intends,” “may,” “will,” “estimates,” “see,” “predicts,” “should” and similar expressions to identify these forward-looking statements. Forward looking statements included in this press release include our expectations about the semiconductor capital equipment market and outlook. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, the Company’s actual results may differ materially from the results predicted or implied by these forward-looking statements. These risks, uncertainties and other factors also include, among others, those identified in “Risk Factors,” "Management’s Discussion and Analysis of Financial Condition and Results of Operations’’ and elsewhere in our annual report on Form 10-K for the year ended December 27, 2024, as filed with the Securities and Exchange Commission. Ultra Clean Holdings, Inc. undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise unless required by law.
**Contact:
**Rhonda Bennetto
SVP Investor Relations
rbennetto@uct.com
—
VAT settlement (8)
—
—
(0.2)
(0.2)
—
Acquisition related costs (9)
—
—
—
—
1.0
Non-GAAP income from operations
$ 25.0
$ 39.2
$ 29.2
$ 109.8
$ 145.4
Reconciliation of GAAP Operating margin to Non-GAAP Operating margin
Reported operating margin on a GAAP basis
2.2 %
4.6 %
2.1 %
(5.2) %
4.3 %
Amortization of intangible assets (1)
1.3 %
1.3 %
1.3 %
1.4 %
1.4 %
Stock-based compensation expense (2)
1.0 %
0.9 %
0.9 %
0.9 %
0.9 %
Restructuring charges (3)
0.3 %
— %
1.4 %
0.8 %
0.1 %
Legal-related costs (4)
0.1 %
0.2 %
0.0 %
0.1 %
0.1 %
Impairment of goodwill (5)
— %
— %
— %
7.3 %
— %
VAT settlement (8)
— %
— %
0.0 %
0.0 %
— %
Acquisition related costs (9)
— %
— %
— %
— %
0.1 %
Non-GAAP operating margin
4.9 %
7.0 %
5.7 %
5.3 %
6.9 %
Reconciliation of GAAP Gross profit to Non-GAAP Gross profit (in millions)
Reported gross profit on a GAAP basis
$ 77.3
$ 91.8
$ 82.2
$ 322.9
$ 356.3
Amortization of intangible assets (1)
2.2
2.3
2.3
9.1
9.1
Stock-based compensation expense (2)
0.3
0.4
0.5
1.4
1.9
Restructuring charges (3)
1.8
—
2.1
6.3
0.3
VAT settlement (8)
—
—
(0.2)
(0.2)
—
Non-GAAP gross profit
$ 81.6
$ 94.5
$ 86.9
$ 339.5
$ 367.6
Reconciliation of GAAP Gross margin to Non-GAAP Gross margin
Reported gross margin on a GAAP basis
15.2 %
16.3 %
16.1 %
15.7 %
17.0 %
Amortization of intangible assets (1)
0.4 %
0.4 %
0.4 %
0.4 %
0.4 %
Stock-based compensation expense (2)
0.1 %
0.1 %
0.1 %
0.1 %
0.1 %
Restructuring charges (3)
0.4 %
— %
0.4 %
0.3 %
0.0 %
VAT settlement (8)
— %
— %
— %
0.0 %
— %
Non-GAAP gross margin
16.1 %
16.8 %
17.0 %
16.5 %
17.5 %
Reconciliation of GAAP Other income (expense), net to Non-GAAP Other income (expense), net (in millions)
Reported Other income (expense), net on a GAAP basis
$ (1.4)
$ 8.4
$ (1.2)
$ (3.9)
$ 17.7
Debt refinancing costs expensed (6)
—
0.4
1.1
1.1
4.0
Fair value related adjustments (7)
—
(7.1)
—
(0.1)
(29.1)
Non-GAAP Other income (expense), net
$ (1.4)
$ 1.7
$ (0.1)
$ (2.9)
$ (7.4)
Reconciliation of GAAP Income (Loss) Per Diluted Share to Non-GAAP Earnings Per Diluted Share
Reported net income (loss) on a GAAP basis
$ (0.07)
$ 0.36
$ (0.24)
$ (4.00)
$ 0.52
Amortization of intangible assets (1)
0.15
0.17
0.15
0.62
0.67
Stock-based compensation expense (2)
0.11
0.10
0.10
0.42
0.39
Restructuring charges (3)
0.03
—
0.16
0.38
0.05
Legal-related costs (4)
0.02
0.03
—
0.04
0.06
Impairment of goodwill (5)
—
—
—
3.32
—
Debt refinancing costs expensed (6)
—
0.01
0.02
0.02
0.09
Fair value related adjustments (7)
—
(0.16)
—
(0.00)
(0.64)
VAT settlement (8)
—
—
(0.00)
(0.00)
—
Acquisition related costs (9)
—
—
—
—
0.02
Income tax effect of non-GAAP adjustments (10)
(0.07)
(0.02)
(0.10)
(1.01)
(0.13)
Income tax effect of valuation allowance (11)
0.05
0.02
0.19
1.24
0.41
Impact of dilutive shares
—
—
—
0.02
—
Non-GAAP net earnings
$ 0.22
$ 0.51
$ 0.28
$ 1.05
$ 1.44
Weighted average number of diluted shares (in millions) on a non-GAAP basis
45.8
45.4
45.6
45.5
45.3
ULTRA CLEAN HOLDINGS, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP EFFECTIVE INCOME TAX RATE
Three Months Ended
Twelve months ended
**December 26,
2025
**
**December 27,
2024
**
**September 26,
2025
**
**December 26,
2025
**
**December 27,
2024
**
Provision for income taxes on a GAAP basis
$ 2.6
$ 4.5
$ 8.7
$ 25.9
$ 32.7
Income tax effect of non-GAAP adjustments (10)
3.0
1.0
4.5
45.8
6.1
Income tax effect of valuation allowance (11)
(2.2)
(1.0)
(8.6)
(56.5)
(18.5)
Non-GAAP provision for income taxes
$ 3.4
$ 4.5
$ 4.6
$ 15.2
$ 20.3
Income before income taxes on a GAAP basis
$ 2.0
$ 24.5
$ 0.6
$ (145.7)
$ 67.2
Amortization of intangible assets (1)
6.9
7.5
6.9
28.1
30.4
Stock-based compensation expense (2)
4.9
4.7
4.6
19.2
17.8
Restructuring charges (3)
1.6
—
7.1
17.1
2.3
Legal-related costs (4)
0.7
1.1
0.2
1.9
2.7
Impairment of goodwill (5)
—
—
—
151.1
—
Debt refinancing costs expensed (6)
—
0.4
1.1
1.1
4.0
Fair value related adjustments (7)
—
(7.1)
—
(0.1)
(29.1)
VAT settlement (8)
—
—
(0.2)
(0.2)
—
Acquisition related costs (9)
—
—
—
—
1.0
Non-GAAP income before income taxes
16.1
31.1
20.3
72.5
96.3
Effective income tax rate on a GAAP basis
130.0 %
18.4 %
1450.0 %
(17.8) %
48.7 %
Non-GAAP effective income tax rate
21.0 %
14.5 %
22.7 %
21.0 %
21.1 %
Cision
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