Filing Flows › Universal Display (OLED) › Q3 2026 › vs Q3 2025
Universal Display (OLED) Q3 2026 vs Q3 2025 (year over year)
Universal Display's revenue rose $20.8M (+15%) from $140M in Q3 2025 to $160M in Q3 2026. The biggest changes: Royalty and License Fees +$22.2M (+42%); Material Sales −$2.9M (-4%); Contract Research Services +$1.6M (+43%). Gross margin 73.1% against 74.6% (-1.4 pts).
Universal Display, Q3 2026: revenue $160M (+15% year over year), operating margin 33.5%, net earnings $78.9M, operating cash flow $100M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 73.1% | 74.6% | -1.4 pts |
| Operating margin | 33.5% | 30.9% | +2.6 pts |
| Net margin | 49.2% | 31.5% | +17.7 pts |
| Free cash flow margin | 59.8% | 60.4% | -0.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Material Sales | $79.7M | $82.6M | −$2.9M | -4% |
| Royalty and License Fees | $75.5M | $53.3M | $22.2M | +42% |
| Contract Research Services | $5.2M | $3.7M | $1.6M | +43% |
| Revenue | $160M | $140M | $20.8M | +15% |
| Gross profit | $117M | $104M | $13.2M | +13% |
| Cost of revenue | $43.1M | $35.5M | $7.6M | +21% |
| Other income, net | $45.5M | $11.0M | $34.5M | +313% |
| Operating profit | $53.7M | $43.1M | $10.6M | +24% |
| Operating expenses | $63.6M | $61.0M | $2.7M | +4% |
| Pre-tax earnings | $99.2M | $54.1M | $45.0M | +83% |
| Research & development | $36.3M | $36.3M | $11K | 0% |
| SG&A | $20.9M | $18.0M | $2.9M | +16% |
| Other operating costs | $6.4M | $6.6M | −$198K | -3% |
| Net earnings | $78.9M | $44.0M | $34.9M | +79% |
| Income tax | $20.2M | $10.1M | $10.1M | +100% |
| Depreciation & amortization | $11.3M | $12.1M | −$781K | -6% |
| Share-based compensation | $6.4M | $6.5M | −$76K | -1% |
| Working capital & other | $3.6M | $34.6M | −$31.0M | -90% |
| Operating cash flow | $100M | $97.2M | $3.0M | +3% |
| Free cash flow (OCF − capex) | $95.9M | $84.3M | $11.6M | +14% |
| Capital expenditures | $4.3M | $12.8M | −$8.6M | -67% |
Questions
How much did Universal Display's revenue grow year over year in Q3 2026?
Universal Display's revenue rose $20.8M (+15%) from $140M in Q3 2025 to $160M in Q3 2026.
What drove Universal Display's revenue change in Q3 2026?
Royalty and License Fees +$22.2M (+42%); Material Sales −$2.9M (-4%); Contract Research Services +$1.6M (+43%).