Short answer
Lam Research (LRCX) filed its Q3 2025 10-Q quarterly report on Oct 24, 2025 for the quarter ended Sep 28, 2025. Quarterly revenue was $5.3B (up 27.7% year over year) with net income of $1.6B.
Q3 2025 key financials · XBRL
- Revenue
- $5.3B
- +27.7% YoY
- Net income
- $1.6B
- +40.5% YoY
- Operating margin
- 34.4%
- Gross margin
- 50.4%
- EPS (diluted)
- $1.24
- +44.2% YoY
Source: XBRL data from the Lam Research (LRCX) Q3 2025 10-Q on SEC EDGAR. USD.
Lam Research Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Net income $1.569B in Q3 FY2025, operating cash flow $1.78B
- Gross cash $6.7B at Sept 28, 2025 vs $6.4B at June 29, 2025, increase from operations
- Financing cash use $1.28B including $975.8M share repurchases and $292M dividends
- No updated guidance; management highlights macroeconomic uncertainty and competitive semiconductor market risks
Risk Factors
- No newly added risk factors identified this quarter vs 2024 10-K
- Most materially updated risk: Expanded cybersecurity risk detailing AI-enabled attacks and SaaS dependence, increasing threat complexity and potential operational disruption
- Most impactful regulatory risk: Intensified export control regulations, including U.S. restrictions on exports to China affecting sales and supply chain flexibility
- Operational/market risk: Increased competition from government-backed foreign competitors with greater resources, threatening market share and pricing power
- Financial risk: Customer concentration risk remains material due to dependency on limited large customers impacting revenue and credit exposure
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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