Ichor Holdings
23.57+0.94 (+4.15%)
Oct 29, 4:00:01 PM EDT · NasdaqGS · ICHR · USD
Key Stats
Market Cap
809.10MP/E (TTM)
-Basic EPS (TTM)
-0.61Dividend Yield
0%Recent Filings
8-K
Ichor amends credit agreement
Ichor Holdings amended its credit agreement on September 26, 2025, extending the maturity to 2030 while tightening leverage covenants to 3.25x. The deal includes a $125 million term loan with quarterly amortization starting at $1.6 million and a $100 million revolver, but raises borrowing costs via higher applicable rates. Lenders gain longer-term capital, yet Ichor faces steeper interest expenses. This refinances the 2021 facility.
8-K
Leadership transition at Ichor
Ichor Holdings announced on August 15, 2025, that Chief Commercial Officer Christopher Smith will step down to become Strategic Advisor to the CEO effective September 2, 2025, with no disagreements cited. David Lee, with 30 years in semiconductor equipment sales, joins as Senior Vice President, Sales and Marketing on August 29, 2025. Smith stays up to six months for a smooth handover. This bolsters sales leadership amid industry demands.
10-Q
Q2 FY2025 results
Ichor Holdings posted Q2 FY2025 net sales of $240.3M, up 18.2% y/y from $203.2M, fueled by stronger semiconductor capital equipment demand, while gross margin slipped to 11.3% from 12.6% amid higher material costs and $1.6M inventory write-offs tied to the Scotland exit. Operating loss widened to $4.8M from $2.3M, pressured by $4.4M in facility shutdown costs and elevated SG&A, yet net loss narrowed to $9.4M or $(0.28) per diluted share on 34.2M shares, versus $5.1M or $(0.15) last year; the gap between operating and net loss stems mainly from $2.7M tax expense under Pillar Two rules. Cash dipped to $92.2M after $25.8M capex, with free cash flow at negative $14.3M (derived); total debt stands at $125.6M under a term loan maturing October 2026 at 6.07% SOFR, revolver fully available sans covenants breached. Non-GAAP metrics, reconciled in the 10-Q, show operating income of $6.1M and diluted EPS of $0.03. Sales competition from OEMs remains a persistent drag.
8-K
Ichor Q2 revenue steady, loss widens
Ichor Holdings reported Q2 2025 revenue of $240.3 million, slightly below Q1's $244.5 million but up from $203.2 million a year ago, amid steady customer demand. GAAP net loss widened to $9.4 million from $4.6 million prior quarter, hit by $4.3 million in Scotland facility shutdown costs including inventory write-offs and lease impairments, yet non-GAAP net income held at $1.1 million. Cash dipped to $92.2 million after $7.5 million operating outflow and $7.3 million capex. Q3 outlook targets $235 million revenue midpoint with non-GAAP EPS of $0.12; facility exits signal cost discipline.
8-K
Ichor CEO transition announced
Ichor Holdings announced on August 3, 2025, a CEO transition plan, with Jeffrey Andreson stepping down after serving until a successor is appointed, then advising through August 31, 2026. The board will promptly engage a search firm, while Andreson continues receiving his base salary until transition and $20,000 monthly thereafter, plus vesting equity, in exchange for a release of claims. No disagreements prompted the move. Transition risks loom amid ongoing M&A and market pressures.
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