Income Statement
Quarterly Data

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 (quarterly data)

US$ in thousands

3 months ended:	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Product	2,472,182)	2,393,821)	2,409,462)	2,197,389)	1,954,837)	1,769,369)	1,921,809)	1,836,664)	1,816,524)	1,903,484)	2,463,408)	2,195,609)	1,975,112)	1,800,659)	1,895,769)	1,629,888)	1,481,478)	1,375,320)	1,238,023)	1,145,495)	1,075,104)	1,051,096)	1,144,550)	1,057,975)
Service	702,559)	669,208)	667,389)	644,152)	613,898)	590,461)	564,917)	560,292)	538,613)	529,124)	520,479)	528,815)	511,627)	488,017)	456,861)	453,950)	443,993)	428,453)	412,847)	393,125)	384,489)	372,868)	364,903)	355,439)
Revenues	3,174,741)	3,063,029)	3,076,851)	2,841,541)	2,568,735)	2,359,830)	2,486,726)	2,396,956)	2,355,137)	2,432,608)	2,983,887)	2,724,424)	2,486,739)	2,288,676)	2,352,630)	2,083,838)	1,925,471)	1,803,773)	1,650,870)	1,538,620)	1,459,593)	1,423,964)	1,509,453)	1,413,414)
Costs of revenues	(1,207,286)	(1,175,689)	(1,221,461)	(1,147,431)	(1,010,551)	(993,885)	(976,746)	(946,891)	(962,949)	(1,005,346)	(1,208,786)	(1,041,226)	(978,564)	(892,091)	(908,162)	(813,624)	(772,241)	(709,629)	(669,733)	(620,562)	(621,544)	(590,158)	(633,618)	(604,241)
Gross margin	1,967,455)	1,887,340)	1,855,390)	1,694,110)	1,558,184)	1,365,945)	1,509,980)	1,450,065)	1,392,188)	1,427,262)	1,775,101)	1,683,198)	1,508,175)	1,396,585)	1,444,468)	1,270,214)	1,153,230)	1,094,144)	981,137)	918,058)	838,049)	833,806)	875,835)	809,173)
Research and development	(352,989)	(338,043)	(346,157)	(323,145)	(325,759)	(321,590)	(320,418)	(311,214)	(317,110)	(328,276)	(332,826)	(318,515)	(296,881)	(285,189)	(265,031)	(258,153)	(241,428)	(238,957)	(229,064)	(219,038)	(217,100)	(215,433)	(220,751)	(210,580)
Selling, general and administrative	(262,706)	(248,905)	(267,081)	(251,042)	(255,106)	(237,514)	(237,244)	(239,645)	(250,857)	(238,393)	(243,096)	(253,980)	(236,778)	(216,489)	(213,479)	(193,261)	(192,022)	(183,040)	(181,909)	(172,631)	(167,791)	(185,760)	(192,253)	(188,345)
Impairment of goodwill and purchased intangible assets	—)	—)	(239,100)	—)	—)	(70,474)	(219,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(256,649)	—)	—)
Income from operations	1,351,760)	1,300,392)	1,003,052)	1,119,923)	977,319)	736,367)	733,318)	899,206)	824,221)	860,593)	1,199,179)	1,110,703)	974,516)	894,907)	965,958)	818,800)	719,780)	672,147)	570,164)	526,389)	453,158)	175,964)	462,831)	410,248)
Interest expense	(73,125)	(71,889)	(74,981)	(82,171)	(82,836)	(79,981)	(74,202)	(74,234)	(73,491)	(74,774)	(74,280)	(74,395)	(44,197)	(39,978)	(37,852)	(38,312)	(39,970)	(39,092)	(38,880)	(39,386)	(40,221)	(39,231)	(40,472)	(40,350)
Loss on extinguishment of debt	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(13,286)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(22,538)	—)	—)
Other income (expense), net	50,164)	35,930)	44,458)	40,935)	50,560)	45,622)	32,154)	26,739)	24,776)	14,864)	18,074)	47,006)	19,380)	(8,644)	(1,201)	(14,140)	29,033)	7,348)	(3,882)	(3,197)	(7,868)	1,004)	2,568)	1,618)
Income before income taxes	1,328,799)	1,264,433)	972,529)	1,078,687)	945,043)	702,008)	691,270)	851,711)	775,506)	800,683)	1,142,973)	1,070,028)	949,699)	846,285)	926,905)	766,348)	708,843)	640,403)	527,402)	483,806)	405,069)	115,199)	424,927)	371,516)
(Provision) benefit for income taxes	(125,950)	(176,017)	(148,002)	(132,836)	(108,597)	(100,467)	(108,736)	(110,336)	(90,852)	(102,846)	(164,178)	(43,963)	(144,301)	(115,625)	(209,388)	302,137)	(75,785)	(73,233)	(70,419)	(63,664)	5,246)	(37,190)	(44,622)	(25,120)
Net income	1,202,849)	1,088,416)	824,527)	945,851)	836,446)	601,541)	582,534)	741,375)	684,654)	697,837)	978,795)	1,026,065)	805,398)	730,660)	717,517)	1,068,485)	633,058)	567,170)	456,983)	420,142)	410,315)	78,009)	380,305)	346,396)
Net (income) loss attributable to non-controlling interest	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(74)	(24)	(88)	(73)	(68)	(80)	326)	268)	425)	938)	443)	250)	129)
Net income attributable to KLA	1,202,849)	1,088,416)	824,527)	945,851)	836,446)	601,541)	582,534)	741,375)	684,654)	697,837)	978,795)	1,025,991)	805,374)	730,572)	717,444)	1,068,417)	632,978)	567,496)	457,251)	420,567)	411,253)	78,452)	380,555)	346,525)

Revenue Trends: The company's product revenues exhibited growth from September 2019 to December 2022, reaching a peak of approximately $2.46 billion. Starting in March 2023, product revenues declined sharply before stabilizing and rising again toward the end of 2024 and early 2025. Service revenues showed a consistent upward trend over the entire period, increasing steadily from about $355 million in September 2019 to over $700 million by June 2025. Overall revenues reflected this combined pattern, with a general growth trajectory interrupted by a noticeable dip between late 2022 and early 2023, followed by recovery and further growth into 2025.
Cost of Revenues and Gross Margin: Costs of revenues increased over time, from approximately $604 million in September 2019 to a peak near $1.21 billion in December 2024, showing a rising cost structure. Gross margin figures paralleled the revenue trend, increasing substantially up to December 2022 (about $1.78 billion) before declining sharply in early 2023. They then gradually improved again into 2025, reaching nearly $2 billion. The gross margin fluctuations suggest that cost management faced challenges during periods of revenue decline but improved with the revenue recovery.
Operating Expenses: Research and development expenses steadily increased, beginning at roughly $211 million in September 2019 and rising to about $353 million by June 2025, indicating continuous investment in innovation and product development. Selling, general and administrative (SG&A) expenses followed a similar upward trend, increasing from approximately $188 million to $263 million over the same period. Both expense categories showed no significant reductions despite some revenue volatility, reflecting sustained investment in operations and corporate functions.
Impairment Charges: Impairment of goodwill and purchased intangible assets was recorded sporadically, with large charges noted in March 2020, September 2023, and March 2024. These impairments significantly impacted income from operations during these periods, indicating reassessments of asset values which negatively affected profitability.
Profitability and Income Analysis: Income from operations generally increased from $410 million in September 2019 to above $1.19 billion by December 2022, reflecting operational leverage from increasing revenues. However, the impairment charges and revenue dips in early 2023 caused a marked decline in operating income during that year. Interest expenses remained relatively stable with minor fluctuations. Other income (expense), net, showed considerable volatility, with both positive and negative values, indicating variable non-operating items influencing overall income.
Income Before Taxes and Net Income: Income before income taxes rose in line with operating income, showing a substantial increase through 2022 followed by volatility in 2023 and recovery in subsequent quarters. The tax provision exhibited significant variability, including some quarters with tax benefits and others with high tax expenses, impacting net income figures accordingly. Net income attributable to the company followed the general trend of income before taxes, with peaks in late 2021 and 2022 followed by dips in early 2023, then a sustained upward trajectory through mid-2025, ultimately surpassing earlier highs.
Key Observations: The financial data show that the company experienced strong growth in revenues and profitability up to late 2022, supported by steady increases in product and service revenues. Despite a pronounced period of impairment charges and revenue contraction in early 2023, operational resilience and cost control enabled a return to growth. Investment in R&D and SG&A remained elevated throughout, reflecting a commitment to innovation and market presence. The volatility in tax provisions and other income suggests fluctuating external factors affecting bottom-line results. Overall, the trends indicate a capacity for recovery and sustained growth following short-term disruptions.

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KLA Corp. (NASDAQ:KLAC)

Income Statement Quarterly Data

Income Statement
Quarterly Data