Income Statement
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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KLA Corp., consolidated income statement
US$ in thousands
Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30).
Revenue exhibits a general upward trajectory from 2021 to 2026, increasing from $6.92 billion to $13.58 billion. While a temporary contraction occurred in 2024, the overall growth is supported by both product and service segments. Service revenue, in particular, demonstrates consistent year-over-year growth, providing a stable recurring revenue stream that complements the more volatile product sales.
- Gross Profitability
- Gross margins have remained remarkably stable, consistently hovering around the 60% threshold throughout the analyzed period. This indicates strong pricing power and efficient management of the cost of revenues despite fluctuating sales volumes.
- Operating Expense Trends
- Investment in research and development shows a steady increase, rising from $928.5 million in 2021 to $1.53 billion by 2026. Selling, general, and administrative expenses also trended upward, although at a more moderate pace. The 2024 and 2025 periods were impacted by non-recurring impairment charges of $289.5 million and $239.1 million, respectively, which temporarily compressed operating income.
- Operating Income and Leverage
- Income from operations followed the revenue trend, reaching $5.66 billion by 2026. The dip in 2024 to $3.35 billion aligns with the revenue decrease and the emergence of impairment charges, but the subsequent recovery suggests strong operational resilience and scalability.
- Financial and Non-Operating Items
- Interest income experienced significant growth, increasing from $8.9 million in 2021 to $177.1 million in 2026, which partially offset interest expenses that stabilized around $300 million. Foreign exchange effects and other net income items remained relatively minimal in comparison to core operating results.
- Net Income Performance
- Net income attributable to the company grew from $2.08 billion in 2021 to $4.83 billion in 2026. This growth trajectory reflects the expansion of the top line and the maintenance of high margins, despite the increasing provision for income taxes, which rose from $283.1 million in 2021 to $775.2 million in 2026.