Filing Flows › Universal Display (OLED) › Q1 2025
Universal Display (OLED) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Universal Display (OLED) reported revenue of $166M for the first quarter 2025 (Q1 2025), +0.6% from a year earlier and +2% from the quarter before. Operating margin was 41.9%, net earnings $64.4M (38.8% of revenue).
Universal Display, Q1 2025: revenue $166M (+0.6% year over year), operating margin 41.9%, net earnings $64.4M, operating cash flow $30.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $166M | +2% | +0.6% |
| Gross profit | $128M | +3% | -0.1% |
| Operating profit | $69.7M | +33% | +11% |
| Net earnings | $64.4M | +40% | +13% |
| Operating cash flow | $30.6M | -12% | -58% |
| Free cash flow | $17.5M | -21% | -73% |
What changed
Revenue was $166.3M in Q1 2025, up 1% year over year and up 2% from the previous quarter. Material Sales was the largest line at 52% of revenue. Royalty and License Fees added $5.3M year over year (up 8%), 521% of the total change. Material Sales declined 8%.
Gross margin was 77.1%, down 0.6 points from a year earlier. Operating profit was $69.7M, a 41.9% margin (up 3.9 points year over year). Of the extra revenue versus a year earlier, 667% reached operating profit, above the 38% margin then. Operating expenses fell 11% while revenue rose 1%. Net earnings were $64.4M, up 13% year over year. The effective tax rate was 19.6%.
Operating cash flow was $30.6M (down 58% year over year), 47% of net earnings. Non-cash charges added back $11.1M of depreciation and amortization and $7.1M of share-based compensation. Working capital and other items used $52.1M. Capital expenditures of $13.1M left free cash flow of $17.5M.
Questions
What was Universal Display's revenue in the first quarter 2025?
Universal Display (OLED) reported revenue of $166M for the first quarter 2025 (Q1 2025), +0.6% from a year earlier and +2% from the quarter before.
Was Universal Display profitable in the first quarter 2025?
Operating profit was $69.7M (41.9% of revenue) and net earnings $64.4M.
Source: Universal Display 10-Q on SEC EDGAR.