Ichor Holdings Reports 21.4% Increase in Net Sales for Q1 Fiscal 2025

Ichor Holdings, Ltd. reported its financial results for the first quarter of fiscal 2025, ending March 28, 2025, revealing a significant increase in net sales and improvements in profitability metrics compared to the same period last year. The company achieved net sales of $244.5 million, a 21.4% increase from $201.4 million in the first quarter of fiscal 2024. Gross profit also rose to $28.5 million, up 24.0% from $23.0 million, resulting in a gross margin of 11.7%, an increase of 30 basis points year-over-year.

Despite the increase in sales, Ichor Holdings reported a net loss of $4.6 million, an improvement from the $9.0 million loss recorded in the prior year. The loss per share was $(0.13), compared to $(0.30) in the same quarter last year. The company attributed the improved financial performance to increased customer demand driven by a stronger semiconductor capital equipment spending environment, which has positively impacted sales across its product lines.

Operationally, Ichor Holdings has seen a rise in its customer base and engagement metrics. The company reported a total of 34,119,879 ordinary shares outstanding as of April 29, 2025. The increase in sales was complemented by a reduction in operating loss, which narrowed to $(1.2) million from $(3.7) million in the previous year. The company also noted a decrease in interest expenses, which fell to $1.6 million from $4.1 million, primarily due to a reduction in average borrowings and lower interest rates.

In terms of strategic developments, Ichor Holdings continues to focus on enhancing its product offerings and expanding its geographic footprint. The company operates production facilities in multiple countries, including the United States, Singapore, and Mexico, and is actively involved in the semiconductor capital equipment market. The company is also investing in research and development, with expenses rising to $5.9 million, reflecting its commitment to innovation and new product development.

Looking ahead, Ichor Holdings remains optimistic about the semiconductor market, anticipating continued growth in equipment spending. However, the company acknowledges potential risks related to macroeconomic conditions, including geopolitical tensions and trade policies that could impact costs and demand. The management expressed confidence in the long-term demand for its products, driven by the increasing need for semiconductor manufacturing capacity and advanced technologies.