Kulicke & Soffa Reports Fourth Quarter 2025 Results

Rhea-AI Summary

Kulicke & Soffa (NASDAQ: KLIC) reported fiscal Q4 2025 revenue of $177.6M, GAAP net income of $6.4M (GAAP diluted EPS $0.12) and non-GAAP net income of $14.9M (non-GAAP diluted EPS $0.28).

For fiscal 2025 the company reported revenue of $654.1M, gross margin 42.5%, GAAP net income of $0.2M (EPS $0.004), non-GAAP net income of $11.0M (EPS $0.21), adjusted free cash flow of $96.6M, and repurchased 2.4M shares for $96.5M. Cash, cash equivalents and short-term investments totaled $510.7M at October 4, 2025.

Management provided Q1 FY2026 outlook: revenue ~$190M ±$10M, GAAP diluted EPS ~$0.18 ±10%, non-GAAP diluted EPS ~$0.33 ±10%. An earnings webcast is scheduled for Nov 20, 2025 at 8:00 am ET.

Positive

• Adjusted free cash flow of $96.6M for FY2025
• Total cash and short-term investments of $510.7M at Oct 4, 2025
• Share repurchases: 2.4M shares for $96.5M in FY2025
• Q1 FY2026 revenue outlook of $190M ±$10M

Negative

• FY2025 GAAP net income only $0.2M (EPS $0.004)
• Recorded $39.8M impairment charges in FY2025
• Goodwill declined by $20.2M to $69.5M as of Oct 4, 2025

Insights

Equity Analyst

Mixed quarter: modest revenue decline, small GAAP profit, stronger non-GAAP and cash metrics; guidance implies modest sequential recovery.

The company reported fiscal Q4 net revenue of $177.6 million, down from $181.3 million year‑over‑year, with GAAP diluted EPS of $0.12 and non‑GAAP diluted EPS of $0.28. Gross margin improved to 45.7% in the quarter and the company generated GAAP cash flow from operations of $7.4 million and adjusted free cash flow of $4.4 million. For fiscal 2025 the company reported net revenue of $654.1 million, non‑GAAP net income of $11.0 million, and ended the quarter with total cash and short‑term investments of $510.7 million.

Key dependencies and risks include the gap between GAAP and non‑GAAP results (notably equity‑based compensation and restructuring adjustments) and the company’s ongoing share repurchase activity (2.4 million shares at $96.5 million for the year). Management expects Q1 fiscal 2026 revenue of approximately $190 million +/- $10 million, GAAP diluted EPS ~ $0.18 +/- 10%, and non‑GAAP diluted EPS ~ $0.33 +/- 10%, which is a concrete near‑term metric to track into Q1 2026. Monitor the reconciliation items that drive non‑GAAP adjustments and quarterly cash generation versus share buybacks for clarity on capital allocation.

SINGAPORE, Nov. 19, 2025 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) ("Kulicke & Soffa," "K&S," "our," or the "Company"), today announced financial results of its fourth fiscal quarter ended October 4, 2025. The Company reported fourth quarter net revenue of $177.6 million, net income of $6.4 million, representing EPS of $0.12 per fully diluted share, and non-GAAP net income of $14.9 million, representing non-GAAP EPS of $0.28 per fully diluted share.

Quarterly Results
	Fiscal Q4 2025	Fiscal Q4 2024	Fiscal Q3 2025
Net Revenue	$                  177,558	$                  181,319	$                  148,413
GAAP EPS – Diluted	$                       0.12	$                       0.22	$                      (0.06)
Non GAAP EPS - Diluted	$                       0.28	$                       0.34	$                       0.07

A reconciliation between the GAAP and non-GAAP adjusted results is provided in the financial tables included at the end of this press release. See also the "Use of non-GAAP Financial Results" section of this press release.

Lester Wong, Kulicke & Soffa's Interim Chief Executive Officer and Chief Financial Officer, stated, "We continue to focus on multiple technology engagements and are increasingly encouraged by improving end market dynamics and order activity. Our global operations and supply chain teams are preparing for increased customer demand over the coming quarters."

Fiscal Year 2025 Financial Highlights

• Net revenue of $654.1 million.
• Gross margin of 42.5%.
• Net income of $0.2 million or $0.004 per fully diluted share; non-GAAP net income of $11.0 million or $0.21 per fully diluted share.
• GAAP cash from operations of $113.6 million; Adjusted free cash flow of $96.6 million.
• The Company repurchased a total of 2.4 million shares of common stock at a cost of $96.5 million.
• Cash, cash equivalents, and short-term investments were $510.7 million as of October 4, 2025.

Fourth Quarter Fiscal 2025 Financial Highlights

• Net revenue of $177.6 million.
• Gross margin of 45.7%.
• Net income of $6.4 million or $0.12 per share; non-GAAP net income of $14.9 million or $0.28 per fully diluted share.
• GAAP cash flow from operations of $7.4 million; Adjusted free cash flow of $4.4 million.
• The Company repurchased a total of 0.5 million shares of common stock at a cost of $16.7 million.

First Quarter Fiscal 2026 Outlook

K&S currently expects net revenue in the first quarter of fiscal 2026 ending January 3, 2026 to be approximately $190 million +/- $10 million, GAAP diluted EPS to be approximately $0.18 +/- 10%, and non-GAAP diluted EPS to be approximately $0.33 +/- 10%.

A reconciliation between the GAAP and non-GAAP financial outlook is provided in the financial tables included at the end of this press release.

Earnings Conference Webcast

A webcast to discuss these results will be held on November 20, 2025, beginning at 8:00 am ET. The live webcast link, supplemental earnings presentation, and archived webcast will be available at investor.kns.com. To access the audio-only portion of the live webcast, parties may call +1-877-407-8037, or internationally, +1-201-689-8037.

An audio-only replay of the webcast will also be available approximately one hour after the completion of the live call by calling +1-877-660-6853, or internationally, +1-201-612-7415 and referencing access code 13750876.

Use of Non-GAAP Financial Results

In addition to U.S. GAAP ("GAAP") results, this press release also contains the following non-GAAP financial results: income from operations, operating margin, net income, net margin, net income per fully diluted share and adjusted free cash flow. The Company's non-GAAP results exclude amortization related to intangible assets acquired through business combinations, costs associated with restructuring and severance, equity-based compensation, acquisition and integration costs, impairment relating to assets acquired through business combinations, long-lived asset impairment relating to business cessation or disposal, impairment relating to equity investments, income tax expense/benefit arising from discrete tax items triggered by acquisition, disposal of business (both via a sale or an abandonment), restructuring and significant changes in tax laws, gain/loss on disposal of business, as well as tax benefits or expenses associated with the foregoing non-GAAP items. The non-GAAP adjustments may or may not be infrequent or nonrecurring in nature, but are a result of periodic or non-core operating activities. These non-GAAP measures are consistent with the way management analyzes and assesses the Company's operating results. The Company believes these non-GAAP measures enhance investors' understanding of the Company's underlying operational performance, as well as their ability to compare the Company's period-to-period financial results and the Company's overall performance to that of its competitors.

Management uses both GAAP metrics as well as these non-GAAP metrics to evaluate the Company's operating and financial results. Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in the Company's industry, as other companies in the industry may calculate non-GAAP financial results differently. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by other companies and exclude expenses that may have a material impact on the Company's reported financial results. The presentation of non-GAAP items is meant to supplement, but not substitute for, GAAP financial measures or information. The Company believes the presentation of non-GAAP results in combination with GAAP results provides better transparency to the investment community when analyzing business trends, providing meaningful comparisons with prior period performance and enhancing investors' ability to view the Company's results from management's perspective. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP measure discussed in this press release is contained in the financial tables at the end of this press release.

About Kulicke & Soffa

Kulicke & Soffa is a global leader in semiconductor assembly technology, advancing device performance across automotive, compute, industrial, memory and communications markets. Founded on innovation in 1951, K&S is uniquely positioned to overcome increasingly dynamic process challenges – creating and delivering long-term value by aligning technology with opportunity.

Caution Concerning Results, Forward-Looking Statements and Certain Risks Related to our Business

In addition to historical statements, this press release contains statements relating to future events and our future results. These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our judgments and future expectations concerning our business, including the importance and competitiveness of our advanced display products and other emerging technology transitions, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, failures, delays or other problems arising from the negotiations with the applicable works council or trade unions; failures, delays or other problems arising from regulatory or judicial review of the activities concerning the Company's cessation of its Electronics Assembly equipment business, the persistent macroeconomic headwinds on our business, actual or potential inflationary pressures, interest rate and risk premium adjustments, falling customer sentiment, or economic recession caused directly or indirectly by geopolitical tensions, our ability to develop, manufacture and gain market acceptance of new products, our ability to operate our business in accordance with our business plan and the other factors listed or discussed in our Annual Report on Form 10-K for the fiscal year ended September 28, 2024, filed on November 14, 2024, and our other filings with the Securities and Exchange Commission. Kulicke and Soffa Industries, Inc. is under no obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Contact:

Kulicke and Soffa Industries, Inc.
Joseph Elgindy
Finance
P: +1-215-784-7518

 

KULICKE AND SOFFA INDUSTRIES, INC. CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited)
	Three months ended				Twelve months ended
	October 4, 2025		September 28, 2024		October 4, 2025		September 28, 2024
Net revenue	$         177,558		$         181,319		$       654,081		$      706,232
Cost of sales	96,348		93,662		376,160		437,478
Gross profit	81,210		87,657		277,921		268,754
Selling, general and administrative	41,475		46,205		167,699		165,564
Research and development	38,847		38,763		149,616		151,214
Gain relating to cessation of business	—		—		(75,987)		—
Impairment charges	—		—		39,817		44,472
Operating expenses	80,322		84,968		281,145		361,250
Income / (Loss) from operations	888		2,689		(3,224)		(92,496)
Interest income	5,852		7,423		23,834		34,230
Interest expense	(39)		(29)		(134)		(89)
Income / (Loss) before income taxes	6,701		10,083		20,476		(58,355)
Provision for income taxes	322		(2,034)		20,263		10,651
Net income / (loss)	$             6,379		$           12,117		$             213		$       (69,006)
Net income / (loss) per share:
Basic	$               0.12		$               0.22		$           0.004		$          (1.24)
Diluted	$               0.12		$               0.22		$           0.004		$          (1.24)
Cash dividends declared per share	$             0.205		$             0.200		$           0.820		$          0.800
Weighted average shares outstanding:
Basic	52,093		54,368		52,955		55,613
Diluted	52,464		54,871		53,193		55,613

 

KULICKE AND SOFFA INDUSTRIES, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (In thousands) (Unaudited)
	As of
	October 4, 2025		September 28, 2024
ASSETS
Current assets
Cash and cash equivalents	$             215,708		$                  227,147
Short-term investments	295,000		350,000
Accounts and other receivable, net of allowance for doubtful accounts of $ - and $49, respectively	183,538		193,909
Inventories, net	160,225		177,736
Prepaid expenses and other current assets	47,064		46,161
Total current assets	901,535		994,953
Property, plant and equipment, net	58,993		64,823
Operating right-of-use assets	32,193		35,923
Goodwill	69,522		89,748
Intangible assets, net	5,600		25,239
Deferred tax assets	16,109		17,900
Equity investments	6,978		3,143
Investment in debt securities	10,000		—
Other assets	3,412		8,433
TOTAL ASSETS	$          1,104,342		$                1,240,162
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable	$               57,178		$                    58,847
Operating lease liabilities	6,178		7,718
Accrued expenses and other current liabilities	97,786		90,802
Income taxes payable	27,029		26,427
Total current liabilities	188,171		183,794
Deferred tax liabilities	35,533		34,594
Income taxes payable	16,580		31,352
Operating lease liabilities	32,372		33,245
Other liabilities	10,195		13,168
TOTAL LIABILITIES	$             282,851		$                  296,153
SHAREHOLDERS' EQUITY
Common stock, without par value	620,043		596,703
Treasury stock, at cost	(974,202)		(881,830)
Retained earnings	1,199,500		1,242,558
Accumulated other comprehensive loss	(23,850)		(13,422)
TOTAL SHAREHOLDERS' EQUITY	$             821,491		$                  944,009
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$          1,104,342		$                1,240,162

 

KULICKE AND SOFFA INDUSTRIES, INC. CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited)
	Three months ended				Twelve months ended
(in thousands)	October 4, 2025		September 28, 2024		October 4, 2025		September 28, 2024
Net cash provided by operating activities	$            7,406		$           31,619		$       113,565		$            31,037
Net cash provided by / (used in) investing activities	1,502		(117,983)		27,663		(138,501)
Net cash used in financing activities	(38,508)		(54,371)		(153,072)		(196,100)
Effect of exchange rate changes on cash and cash equivalents	(1,173)		965		405		1,309
Changes in cash and cash equivalents	(30,773)		(139,770)		(11,439)		(302,255)
Cash and cash equivalents, beginning of period	246,481		366,917		227,147		529,402
Cash and cash equivalents, end of period	$        215,708		$         227,147		$       215,708		$          227,147
Short-term investments	295,000		350,000		295,000		350,000
Total cash, cash equivalents and short-term investments	$        510,708		$         577,147		$       510,708		$          577,147

 

Reconciliation of U.S. GAAP to Non-GAAP Income from Operations and Operating Margin (In thousands, except percentages) (Unaudited)
		Three months ended
		October 4, 2025		September 28, 2024		June 28, 2025
Net revenue		$     177,558		$     181,319		$     148,413
U.S. GAAP income / (loss) from operations		888		2,689		(6,094)
U.S. GAAP operating margin		0.5 %		1.5 %		(4.1) %
Pre-tax non-GAAP items:
Amortization related to intangible assets		308		1,266		308
Restructuring		2,797		2,294		287
Equity-based compensation		7,800		6,439		7,092
Non-GAAP income from operations		$       11,793		$       12,688		$         1,593
Non-GAAP operating margin		6.6 %		7.0 %		1.1 %

 

Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income and Non-GAAP Net Margin and U.S. GAAP net income per share to Non-GAAP net income per share (In thousands, except percentages and per share data) (Unaudited)
		Twelve months ended		Three months ended
		October 4, 2025		October 4, 2025		September 28, 2024		June 28, 2025
Net revenue		$     654,081		$     177,558		$     181,319		$     148,413
U.S. GAAP net income / (loss)		213		6,379		12,117		(3,289)
U.S. GAAP net margin		0.03 %		3.6 %		6.7 %		(2.2) %
Non-GAAP adjustments:
Amortization related to intangible assets		3,033		308		1,266		308
Restructuring		12,719		2,797		2,294		287
Equity-based compensation		28,526		7,800		6,439		7,092
Impairment charges		39,817		—		—		—
Gain relating to cessation of business		(75,987)		—		—		—
Income tax benefit - US one-time transition tax		—		—		(6,461)		—
Net income tax expense / (benefit) on non-GAAP items		2,673		(2,411)		2,866		(626)
Total non-GAAP adjustments		$       10,781		$         8,494		$         6,404		$         7,061
Non-GAAP net income		$       10,994		$       14,873		$       18,521		$         3,772
Non-GAAP net margin		1.7 %		8.4 %		10.2 %		2.5 %
U.S. GAAP net  per share:
Basic		$         0.004		$          0.12		$          0.22		$         (0.06)
Diluted(a)		$         0.004		$          0.12		$          0.22		$         (0.06)
Non-GAAP adjustments per share:(b)
Basic		$         0.206		$          0.16		$          0.12		$          0.13
Diluted		$         0.206		$          0.16		$          0.12		$          0.13
Non-GAAP net income per share:
Basic		$          0.21		$          0.28		$          0.34		$          0.07
Diluted(c)		$          0.21		$          0.28		$          0.34		$          0.07
Weighted average shares outstanding:
Basic		52,955		52,093		54,368		52,692
Diluted		53,193		52,464		54,871		52,866

(a)	GAAP diluted net earnings per share reflects any dilutive effect of outstanding restricted stock, but that effect is excluded when calculating GAAP diluted net loss per share because it would be anti-dilutive.
(b)	Non-GAAP adjustments per share include amortization related to intangible assets acquired through business combinations, costs associated with restructuring and severance, equity-based compensation expenses, impairment relating to assets acquired through business combinations, long-lived asset impairment relating to business cessation or disposal, gain relating to disposal or cessation of business, and income tax effects associated with the foregoing non-GAAP items.
(c)	Non-GAAP diluted net earnings per share reflects any dilutive effect of outstanding restricted stock, but that effect is excluded when calculating Non-GAAP diluted net loss per share because it would be anti-dilutive.

 

Reconciliation of U.S. GAAP Cash provided by Operating Activities to Non-GAAP Adjusted Free Cash Flow (In thousands, except percentages) (unaudited)
		Twelve months ended		Three months ended
		October 4, 2025		October 4, 2025		September 28, 2024		June 28, 2025
U.S. GAAP net cash provided by operating activities		$         113,565		$             7,406		$           31,619		$             7,380
Purchases of property, plant and equipment		(17,203)		(2,957)		(2,468)		(2,090)
Proceeds from sales of property, plant and equipment		207		—		27		147
Non-GAAP adjusted free cash flow		96,569		$             4,449		$           29,178		$             5,437

 

Reconciliation of U.S. GAAP to Non-GAAP Outlook (In millions, except per share data) (Unaudited)
		First quarter of fiscal 2026 ending January 3, 2026
		GAAP Outlook		Adjustments		Non-GAAP Outlook
Net revenue		$190 million +/- $10 million		—		$190 million +/- $10 million
Operating expenses		$79.8 million +/- 2%		$8.8 million B,C,D,E		$71.0 million +/- 2%
Diluted EPS(1)		$0.18 +/- 10%%		$0.15 A - F		$0.33 +/- 10%

 

Non-GAAP Adjustments
A. Equity-based compensation - Cost of sales		0.4
B. Equity-based compensation - Selling, general and administrative and Research and development		6.8
C. Amortization related to intangible assets		0.3
D. Restructuring expenses		2.0
E. Gain relating to discontinued business		(0.3)
F. Net income tax effect of the above items		(1.3)

(1)	GAAP and non-GAAP diluted EPS based on approximately 52.0 million diluted weighted average shares outstanding.

The tables above reconcile our GAAP to non-GAAP guidance based on the current outlook. The guidance does not incorporate the impact of any potential business combinations, divestitures, unannounced restructuring activities, strategic investments and other significant transactions. The timing and impact of such items are dependent on future events that may be uncertain or outside of our control.

 

View original content:https://www.prnewswire.com/news-releases/kulicke--soffa-reports-fourth-quarter-2025-results-302619971.html

SOURCE Kulicke & Soffa Industries, Inc.

FAQ

What were Kulicke & Soffa (KLIC) fiscal Q4 2025 revenue and EPS?

Q4 2025 revenue was $177.6M; GAAP diluted EPS was $0.12 and non-GAAP diluted EPS was $0.28.

How much cash did Kulicke & Soffa (KLIC) hold on Oct 4, 2025?

Total cash, cash equivalents and short-term investments were $510.7M as of Oct 4, 2025.

How large were KLIC share buybacks in fiscal 2025 and Q4 2025?

The company repurchased 2.4M shares for $96.5M in FY2025 and repurchased 0.5M shares for $16.7M in Q4 2025.

What guidance did Kulicke & Soffa (KLIC) give for Q1 fiscal 2026?

KLIC expects Q1 FY2026 revenue of about $190M ±$10M, GAAP diluted EPS ~$0.18 ±10%, non-GAAP diluted EPS ~$0.33 ±10%.

What was Kulicke & Soffa's FY2025 adjusted free cash flow and non-GAAP net income?

FY2025 adjusted free cash flow was $96.6M and non-GAAP net income was $11.0M.