Lam Research (LRCX) Q3 2025 10-Q Quarterly Report
Lam Research (LRCX) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 24, 2025 for the fiscal period ending Sep 28, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Lam Research Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Net income $1.569B in Q3 FY2025, operating cash flow $1.78B
- • Revenue YoY and segment performance not disclosed in provided text
- • 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
Lam Research Q3 2025 Quarterly FinancialsXBRL
Revenue
$5.3B
▲ +27.7% YoY
Net Income
$1.6B
▲ +40.5% YoY
Gross Margin
50.4%
▲ +238bp YoY
Operating Margin
34.4%
▲ +402bp YoY
Net Margin
29.5%
▲ +268bp YoY
EPS (Diluted)
$1.24
▲ +44.2% YoY
Operating Cash Flow
$1.8B
▲ +13.4% YoY
Source: XBRL data from Lam Research Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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