Ichor Holdings, Ltd. has recently released its 10-Q report, detailing its activities as a leader in the design, engineering, and manufacturing of critical fluid delivery subsystems and components for semiconductor capital equipment. The company's product offerings include gas and chemical delivery systems and subsystems, which are essential in the manufacturing of semiconductor devices. Ichor Holdings also provides precision-machined components, weldments, and other proprietary products for various industries.
In the 10-Q report, Ichor Holdings reported a net loss of $9.4 million for the three months ended June 27, 2025, compared to a net loss of $5.1 million for the same period in 2024. The company's net sales for the three months ended June 27, 2025, amounted to $240.3 million, representing an 18.2% increase from the same period in 2024. For the six months ended June 27, 2025, net sales were $484.8 million, a 19.8% increase from the prior year.
The gross margin for the three months ended June 27, 2025, was 11.3%, down from 12.6% for the same period in 2024. Similarly, the gross margin for the six months ended June 27, 2025, decreased to 11.5% from 12.0% in 2024. The decrease in gross margin was attributed to increased material costs, unfavorable sales mix, and inventory write-off costs associated with the planned exit from the company's Scotland operations.
Ichor Holdings' research and development expenses decreased by 3.6% for the three months ended June 27, 2025, compared to the same period in 2024. However, selling, general, and administrative expenses increased by 22.5% for the same period. The company reported an operating loss of $4.8 million for the three months ended June 27, 2025, compared to an operating loss of $2.3 million for the same period in 2024.
The semiconductor capital equipment industry is inherently cyclical, and Ichor Holdings noted that overall semiconductor equipment spending in 2025 is anticipated to grow over 2024 levels, particularly in its primary markets of etch and deposition. However, the company highlighted the uncertainty surrounding the global trade environment and ongoing negotiations between the United States and other countries with respect to tariffs, which could materially affect costs for materials, prices for products, and demand.
As a result of these announcements, the company's shares have moved -29.69% on the market, and are now trading at a price of $14.16. For more information, read the company's full 10-Q submission here.
