Filing Flows › Universal Display (OLED) › Q2 2026 › vs Q1 2026
Universal Display (OLED) Q2 2026 vs Q1 2026 (quarter over quarter)
Universal Display's revenue rose $9.9M (+7%) from $142M in Q1 2026 to $152M in Q2 2026. The biggest changes: Royalty and License Fees +$27.0M (+50%); Material Sales −$17.6M (-21%); Contract Research Services +$502K (+12%). Gross margin 75.8% against 74.6% (+1.2 pts).
Universal Display, Q2 2026: revenue $152M (-11% year over year), operating margin 35.3%, net earnings $49.4M, operating cash flow $25.0M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 75.8% | 74.6% | +1.2 pts |
| Operating margin | 35.3% | 30.1% | +5.2 pts |
| Net margin | 32.5% | 25.2% | +7.2 pts |
| Free cash flow margin | 13.4% | 70.5% | -57.1 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Royalty and License Fees | $81.2M | $54.2M | $27.0M | +50% |
| Material Sales | $66.2M | $83.7M | −$17.6M | -21% |
| Contract Research Services | $4.8M | $4.3M | $502K | +12% |
| Revenue | $152M | $142M | $9.9M | +7% |
| Gross profit | $115M | $106M | $9.3M | +9% |
| Cost of revenue | $36.8M | $36.1M | $669K | +2% |
| Other income, net | $7.4M | $2.5M | $4.8M | +189% |
| Operating profit | $53.6M | $42.8M | $10.9M | +25% |
| Operating expenses | $61.7M | $63.3M | −$1.6M | -3% |
| Pre-tax earnings | $61.0M | $45.3M | $15.7M | +35% |
| Research & development | $35.0M | $35.2M | −$272K | -0.8% |
| SG&A | $18.6M | $20.0M | −$1.5M | -7% |
| Other operating costs | $8.2M | $8.1M | $119K | +1% |
| Net earnings | $49.4M | $35.9M | $13.5M | +38% |
| Income tax | $11.6M | $9.4M | $2.2M | +23% |
| Depreciation & amortization | $13.5M | $13.2M | $368K | +3% |
| Share-based compensation | $4.9M | $7.6M | −$2.6M | -35% |
| Working capital & other | $42.9M | −$52.3M | $95.1M | — |
| Operating cash flow | $25.0M | $109M | −$83.9M | -77% |
| Free cash flow (OCF − capex) | $20.3M | $100M | −$79.9M | -80% |
| Capital expenditures | $4.6M | $8.6M | −$4.0M | -46% |
Questions
How much did Universal Display's revenue grow quarter over quarter in Q2 2026?
Universal Display's revenue rose $9.9M (+7%) from $142M in Q1 2026 to $152M in Q2 2026.
What drove Universal Display's revenue change in Q2 2026?
Royalty and License Fees +$27.0M (+50%); Material Sales −$17.6M (-21%); Contract Research Services +$502K (+12%).