LRCX Lam Research (LRCX) Q1 FY26 earnings call
Lam Research delivered a strong quarter with record financial performance, driven by robust demand in leading-edge foundry, HBM, and NAND upgrades, fueled by AI-related investments. The company's etch and deposition technologies are well-positioned for increasing semiconductor manufacturing complexity. Management anticipates continued WFE growth in 2026, despite headwinds from China export restrictions and customer mix impacting gross margins.
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LRCX operating KPIs by quarter
| KPI | Mar 2025 Q3 FY25 | Jun 2025 Q4 FY25 | This call Sep 2025 Q1 FY26 | Dec 2025 Q2 FY26 | Mar 2026 Q3 FY26 | Jun 2026 Q4 FY26 | Sep 2026 Q1 FY27 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Employees | ~18.6KWe ended the March quarter with approximately 18,600 regular full-time employees, which was an increase of approximately 300 people from the prior quarter.Source: earnings call transcript | ~19KWe ended the June quarter with approximately 19,000 regular full-time employees, which was an increase of approximately 400 people from the prior quarter.Source: earnings call transcript | ~19.4KWe ended the September quarter with approximately 19,400 regular full-time employees, which was an increase of approximately 400 people from the prior quarter.Source: earnings call transcript | ~19.7KWe ended the December quarter with approximately 19,700 regular full-time employees, which was an increase of approximately 300 people from the prior quarter.Source: earnings call transcript | ~20.6KWe ended the March quarter with approximately 20,600 regular full-time employees, which was an increase of approximately 900 people from the prior quarter.Source: earnings call transcript | ~22.4KWe ended the June quarter with approximately 22,400 regular full-time employees, which was an increase of approximately 1,800 people from the prior quarter.Source: earnings call transcript | ~24.3KWe ended the September quarter with approximately 24,300 regular full-time employees, which was a growth of approximately 1,900 people from the prior quarter.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.