Filing Flows › Universal Display (OLED) › Q2 2025
Universal Display (OLED) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Universal Display (OLED) reported revenue of $172M for the second quarter 2025 (Q2 2025), +8% from a year earlier and +3% from the quarter before. Operating margin was 39.9%, net earnings $67.3M (39.2% of revenue).
Universal Display, Q2 2025: revenue $172M (+8% year over year), operating margin 39.9%, net earnings $67.3M, operating cash flow $51.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $172M | +3% | +8% |
| Gross profit | $133M | +3% | +10% |
| Operating profit | $68.5M | -2% | +21% |
| Net earnings | $67.3M | +4% | +29% |
| Operating cash flow | $51.9M | +70% | -22% |
| Free cash flow | $37.5M | +114% | -35% |
What changed
Revenue was $171.8M in Q2 2025, up 8% year over year and up 3% from the previous quarter. Material Sales was the largest line at 52% of revenue. Royalty and License Fees added $16.1M year over year (up 27%), 121% of the total change. Material Sales declined 7%.
Gross margin was 77.2%, up 1.4 points from a year earlier. Operating profit was $68.5M, a 39.9% margin (up 4.3 points year over year). Of the extra revenue versus a year earlier, 91% reached operating profit, above the 36% margin then. Operating expenses grew 0% against revenue growth of 8%. Net earnings were $67.3M, up 29% year over year. The effective tax rate was 19.8%.
Operating cash flow was $51.9M (down 22% year over year), 77% of net earnings. Non-cash charges added back $11.4M of depreciation and amortization and $9.3M of share-based compensation. Working capital and other items used $36.1M. Capital expenditures of $14.5M left free cash flow of $37.5M.
Questions
What was Universal Display's revenue in the second quarter 2025?
Universal Display (OLED) reported revenue of $172M for the second quarter 2025 (Q2 2025), +8% from a year earlier and +3% from the quarter before.
Was Universal Display profitable in the second quarter 2025?
Operating profit was $68.5M (39.9% of revenue) and net earnings $67.3M.
Source: Universal Display 10-Q on SEC EDGAR.