$ICHR

ICHOR HOLDINGS, LTD.

CIK:0001652535|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2026	Jun. 27, 2025	Jun. 26, 2026	Jun. 27, 2025
Income Statement [Abstract]
Net sales	$ 294,784	$ 240,285	$ 550,852	$ 484,750
Cost of sales	253,801	213,083	477,611	429,026
Gross profit	40,983	27,202	73,241	55,724
Operating expenses:
Research and development	7,772	5,710	13,302	11,584
Selling, general, and administrative	24,105	24,254	46,670	45,996
Amortization of intangible assets	1,911	2,078	3,989	4,156
Total operating expenses	33,788	32,042	63,961	61,736
Operating income (loss)	7,195	(4,840)	9,280	(6,012)
Interest expense, net	1,453	1,635	3,131	3,281
Other expense, net	332	193	655	274
Income (loss) before income taxes	5,410	(6,668)	5,494	(9,567)
Income tax expense	4,412	2,740	6,965	4,400
Net income (loss)	$ 998	$ (9,408)	$ (1,471)	$ (13,967)
Net income (loss) per share
Net income (loss) per share, basic (in usd per share)	$ 0.03	$ (0.28)	$ (0.04)	$ (0.41)
Net income (loss) per share, diluted (in usd per share)	$ 0.03	$ (0.28)	$ (0.04)	$ (0.41)
Shares used to compute Net income (loss) per share:
Shares used to compute net income (loss) per share, basic (in shares)	35,397,839	34,179,382	35,002,436	34,088,873
Shares used to compute net income (loss) per share, diluted (in shares)	36,302,279	34,179,382	35,002,436	34,088,873

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 26, 2026	Jun. 27, 2025
Cash flows from operating activities:
Net income (loss)	$ (1,471)	$ (13,967)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	14,857	16,057
Share-based compensation	8,362	8,350
Impairment of lease right-of-use assets	938	1,292
Deferred income taxes	1,783	1,273
Loss on disposal of equipment	1,282	0
Amortization of debt issuance costs	155	232
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	(34,138)	5,798
Inventories	(58,913)	(9,271)
Prepaid expenses and other assets	4,664	4,777
Accounts payable	43,068	(468)
Accrued liabilities	847	305
Other liabilities	(226)	(2,909)
Net cash provided by (used in) operating activities	(18,792)	11,469
Cash flows from investing activities:
Capital expenditures	(14,833)	(25,772)
Net cash used in investing activities	(14,833)	(25,772)
Cash flows from financing activities:
Issuance of ordinary shares, net of fees	195,380	0
Issuance of ordinary shares under share-based compensation plans	6,184	4,654
Employees' taxes paid upon vesting of restricted share units	(6,648)	(3,046)
Repayments on term loan	(3,125)	(3,750)
Net cash provided by (used in) financing activities	191,791	(2,142)
Net increase (decrease) in cash	158,166	(16,445)
Cash at beginning of period	98,290	108,669
Cash at end of period	256,456	92,224
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	3,869	4,344
Cash paid during the period for taxes, net of refunds	462	1,299
Supplemental disclosures of non-cash activities:
Capital expenditures included in accounts payable	2,268	4,291
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 2,424	$ 773

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 26, 2026	Dec. 26, 2025
Current assets:
Cash and cash equivalents	$ 256,456	$ 98,290
Accounts receivable, net	104,652	70,514
Inventories	290,707	231,794
Prepaid expenses and other current assets	7,511	9,531
Total current assets	659,326	410,129
Property and equipment, net	107,840	103,922
Operating lease right-of-use assets	31,364	35,046
Other noncurrent assets	13,569	13,638
Deferred tax assets, net	4,374	4,337
Intangible assets, net	36,416	40,405
Goodwill	335,402	335,402
Total assets	1,188,291	942,879
Current liabilities:
Accounts payable	125,717	84,007
Accrued liabilities	18,522	17,479
Other current liabilities	15,565	10,602
Current portion of long-term debt	6,250	6,250
Current portion of lease liabilities	12,093	11,250
Total current liabilities	178,147	129,588
Long-term debt, less current portion, net	114,308	117,278
Lease liabilities, less current portion	21,491	25,413
Deferred tax liabilities, net	3,781	1,961
Other non-current liabilities	5,067	4,753
Total liabilities	322,794	278,993
Shareholders’ equity:
Preferred shares ($0.0001 par value; 20,000,000 shares authorized; 0 shares issued and outstanding)	0	0
Ordinary shares ($0.0001 par value; 200,000,000 shares authorized; 37,383,592 and 34,433,776 shares outstanding, respectively; 37,383,592 and 38,871,215 shares issued, respectively)	4	3
Additional paid in capital	735,894	624,391
Treasury shares at cost (0 and 4,437,439 shares, respectively)	0	(91,578)
Retained earnings	129,599	131,070
Total shareholders’ equity	865,497	663,886
Total liabilities and shareholders’ equity	$ 1,188,291	$ 942,879