Stock Analysis on Net

KLA Corp. (NASDAQ:KLAC)

$24.99

Income Statement
Quarterly Data

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KLA Corp., consolidated income statement (quarterly data)

US$ in thousands

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3 months ended: Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 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
Service
Revenues
Costs of revenues
Gross margin
Research and development
Selling, general and administrative
Impairment of goodwill and purchased intangible assets
Income from operations
Interest expense
Loss on extinguishment of debt
Other income (expense), net
Income before income taxes
(Provision) benefit for income taxes
Net income
Net (income) loss attributable to non-controlling interest
Net income attributable to KLA

Based on: 10-Q (reporting date: 2026-03-31), 10-Q (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-K (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30).


Revenue exhibits a sustained long-term growth trajectory, increasing from $1.41 billion in September 2019 to $3.42 billion by March 2026. This expansion is primarily driven by product sales, although service revenue has demonstrated a more consistent and linear growth pattern over the same period.

Revenue Streams and Composition
Product revenue reflects higher volatility and serves as the primary growth engine, peaking at $2.64 billion in March 2026 from an initial $1.06 billion. Service revenue grew steadily from $355 million to $775 million, providing a stabilizing effect on the overall revenue mix.
Gross Margin Performance
Gross profit has expanded significantly, rising from $809 million to $2.09 billion. The scale of gross margin growth has generally outpaced the growth of the cost of revenues, indicating improved production efficiency or pricing power over the analyzed period.
Operating Expense Trends
Research and development (R&D) expenses increased from $210 million to $388 million, reflecting a commitment to continuous innovation. Selling, general, and administrative (SG&A) expenses followed a similar upward trend, growing from $188 million to $291 million, though they remained a smaller portion of total revenue compared to R&D.
Operating Income and Non-Recurring Items
Income from operations shows a general upward trend, reaching $1.41 billion by March 2026. However, this growth was periodically interrupted by significant impairment charges on goodwill and intangible assets, specifically in March 2020, December 2023, March 2024, and December 2024, which caused temporary contractions in operating profitability.
Financial Costs and Net Profitability
Interest expenses remained relatively stable around $40 million until late 2022, after which they shifted to a higher range between $70 million and $83 million. Despite these increased costs and occasional impairments, net income attributable to KLA grew from $346 million in September 2019 to $1.20 billion by March 2026, reflecting strong overall bottom-line expansion.