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Universal Display Announces 1Q 2025 Financial Results

Total revenue in 1Q 2025 was $166.3 million as compared to $165.3 million in the first quarter of 2024.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Universal Display reported financial results for the first quarter ended March 31, 2025.

Total revenue in the first quarter of 2025 was $166.3 million as compared to $165.3 million in the first quarter of 2024. Revenue from material sales was $86.2 million in the first quarter of 2025 as compared to $93.3 million in the first quarter of 2024. The decrease in material sales was primarily due to lower unit material volume for our emitter materials, partially offset by changes in customer mix.

Revenue from royalty and license fees was $73.6 million in the first quarter of 2025 as compared to $68.3 million in the first quarter of 2024. The increase in royalty and license fees was primarily the result of changes in customer mix, partially offset by lower unit material volume.

“We began 2025 on a solid financial note and continue to remain confident in the long-term growth trajectory of the OLED market. At the same time, we recognize the increasing complexity and uncertainty of the global landscape. In this environment, we are committed to our long-term strategy of advancing our leadership through the continuous invention, development and delivery of state-of-the-art OLED technologies and materials,” said Brian Millard, VP and CFO of Universal Display Corporation.

“With a powerful innovation engine, strong balance sheet, resilient supply chain, and operational agility, we are well-positioned to adapt to change, respond swiftly and continue supporting our customers and partners,” Millard added.

Total gross margin was 77% in the first quarter of 2025 as compared to 78% in the first quarter of 2024. Operating income was $69.7 million in the first quarter of 2025 as compared to $62.9 million in the first quarter of 2024.

While the evolving macroeconomic environment this year creates greater uncertainty, the company affirms its previous revenue guidance and believes that 2025 revenue will be the range of $640 million to $700 million.

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