Ultra Clean Posts Q1 Revenue of $533.7M, Guides Q2 to $565–605M
Ultra Clean Holdings reported first-quarter revenue of $533.7 million, a rise from $506.6 million, with GAAP net loss of $17.9 million and non-GAAP net income of $14.5 million ($0.31 per share). Gross margin was 15.8%, non-GAAP operating margin hit 5.1%, and Q2 revenue is guided to $565–605 million.
1. First Quarter 2026 Results
Ultra Clean reported revenue of $533.7 million for the quarter ended March 27, up from $506.6 million in the prior quarter, with product sales of $465.7 million and services revenue of $68.0 million. GAAP gross margin was 15.8%, operating margin stood at 2.1%, and the company recorded a net loss of $17.9 million, or $0.40 per diluted share.
2. Non-GAAP Performance Metrics
On a non-GAAP basis, gross margin improved to 16.5% from 16.1% and operating margin reached 5.1%, up from 4.9%. Non-GAAP net income climbed to $14.5 million, or $0.31 per diluted share, compared with $10.0 million, or $0.22 per share, in the previous quarter.
3. Second-Quarter 2026 Outlook
The company expects second-quarter revenue between $565 million and $605 million, GAAP diluted net income per share of $0.20 to $0.36, and non-GAAP diluted net income per share of $0.44 to $0.60, reflecting continued demand across its customer base.
4. Strategic Growth Drivers
Management cited accelerated customer technology roadmaps and an early-stage, multi-year AI-driven expansion as key growth catalysts. Ongoing ramp-readiness efforts and efficiency improvements across the global footprint are designed to underpin sustained margin enhancement and long-term growth.