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.

KLA Corp., consolidated income statement

US$ in thousands

12 months ended:	Jun 30, 2026	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Product	10,453,537)	9,472,854)	7,482,679)	8,379,025)	7,301,428)	5,240,316)
Service	3,125,939)	2,683,308)	2,329,568)	2,117,031)	1,910,455)	1,678,418)
Revenues	13,579,476)	12,156,162)	9,812,247)	10,496,056)	9,211,883)	6,918,734)
Costs of revenues	(5,255,060)	(4,751,867)	(3,928,073)	(4,218,307)	(3,592,441)	(2,772,165)
Gross margin	8,324,416)	7,404,295)	5,884,174)	6,277,749)	5,619,442)	4,146,569)
Research and development	(1,532,118)	(1,360,334)	(1,278,981)	(1,296,727)	(1,105,254)	(928,487)
Selling, general and administrative	(1,131,518)	(1,029,734)	(969,509)	(986,326)	(860,007)	(729,602)
Impairment of goodwill and purchased intangible assets	—)	(239,100)	(289,474)	—)	—)	—)
Income from operations	5,660,780)	4,775,127)	3,346,210)	3,994,696)	3,654,181)	2,488,480)
Interest expense	(284,440)	(302,166)	(311,253)	(296,940)	(160,339)	(157,328)
Loss on extinguishment of debt	—)	—)	—)	(13,286)	—)	—)
Interest income	177,055)	180,276)	160,688)	74,095)	8,695)	8,929)
Foreign exchange gains (losses), net	16,248)	(2,964)	7,268)	(233)	(3,925)	(5,005)
Net realized gains (losses) on sale of investments	587)	59)	(103)	(986)	(306)	253)
Other	35,695)	(5,884)	(12,778)	31,844)	(9,069)	25,125)
Other income (expense), net	229,585)	171,487)	155,075)	104,720)	(4,605)	29,302)
Income before income taxes	5,605,925)	4,644,448)	3,190,032)	3,789,190)	3,489,237)	2,360,454)
Provision for income taxes	(775,154)	(582,805)	(428,136)	(401,839)	(167,177)	(283,101)
Net income	4,830,771)	4,061,643)	2,761,896)	3,387,351)	3,322,060)	2,077,353)
Net (income) loss attributable to non-controlling interest	—)	—)	—)	(74)	(253)	939)
Net income attributable to KLA	4,830,771)	4,061,643)	2,761,896)	3,387,277)	3,321,807)	2,078,292)

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.

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KLA Corp. (NASDAQ:KLAC)

Income Statement