Filing Flows › Photronics (PLAB) › Q3 FY25
Photronics (PLAB) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Sep 9, 2025
Photronics (PLAB) reported revenue of $210M for the third quarter fiscal 2025 (Q3 FY25), -0.3% from a year earlier and -0.3% from the quarter before. Operating margin was 22.9%, net earnings $22.9M (10.9% of revenue).
Photronics, Q3 FY25: revenue $210M (-0.3% year over year), operating margin 22.9%, net earnings $22.9M, operating cash flow $50.1M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $210M | -0.3% | -0.3% |
| Gross profit | $70.9M | -9% | -6% |
| Operating profit | $48.2M | -14% | -8% |
| Net earnings | $22.9M | +158% | -33% |
| Operating cash flow | $50.1M | +59% | -33% |
| Free cash flow | $25.2M | — | -50% |
What changed
Revenue was $210.4M in Q3 FY25, roughly flat year over year and roughly flat from the previous quarter. Mainstream Integrated Circuits was the largest line at 45% of revenue. Mainstream Integrated Circuits lost $12.2M year over year (down 11%), 2069% of the total change.
Gross margin was 33.7%, down 1.9 points from a year earlier. Operating profit was $48.2M, a 22.9% margin (down 1.8 points year over year). Operating expenses fell 1% while revenue was flat. The fastest-growing cost line was Research & development (+20%). Net earnings were $22.9M, down 33% year over year. The effective tax rate was 24.8%.
Operating cash flow was $50.1M (down 33% year over year), 172% of net income including minority interests. Non-cash charges added back $18.8M of depreciation and amortization and $3.3M of share-based compensation. Capital expenditures of $24.8M left free cash flow of $25.2M.
Questions
What was Photronics' revenue in the third quarter fiscal 2025?
Photronics (PLAB) reported revenue of $210M for the third quarter fiscal 2025 (Q3 FY25), -0.3% from a year earlier and -0.3% from the quarter before.
Was Photronics profitable in the third quarter fiscal 2025?
Operating profit was $48.2M (22.9% of revenue) and net earnings $22.9M.
Source: Photronics 10-Q on SEC EDGAR.