Ichor(NASDAQ) ICHR

Ichor Holdings, Ltd. makes parts for machines that build computer chips. These systems help create the tiny electronic parts in smartphones. The company sells these tools to the world's largest equipment makers.

The Gear Inside the Chips

• Gas Delivery Subsystems: Tools that monitor and control precise amounts of gas used in etch (removing material) and deposition (adding material) processes.
• Chemical Delivery Subsystems: Systems that blend and dispense liquids for polishing (chemical-mechanical planarization), plating, and cleaning semiconductor wafers.
• Precision Components: Custom parts including machined pieces, specialized weldments, and vacuum-brazed elements used in extreme manufacturing environments.
• Proprietary Technologies: Advanced surface treatments and electron-beam welding solutions designed for high-performance fluid management.

Building a Global Footprint

• Substantially completed a restructuring plan in the second quarter of 2026 to consolidate manufacturing into high-volume facilities.
• Issued 2.5 million ordinary shares in June 2026 to raise $195.4 million in net proceeds for corporate needs.
• Expanded production capacity in Malaysia and Mexico to support advanced process technologies and manufacturing growth.
• Relocated machining assets to high-volume factories starting in 2025 to drive better operational efficiency.

Expertise in Critical Fluid Management

Ichor operates production facilities in the United States, Singapore, Malaysia, and Mexico to serve a global customer base. The company uses specialized engineering like vacuum brazing and laser welding to ensure fluid delivery systems do not fail during sensitive manufacturing stages.

By the Numbers

• Net sales reached $294.8 million in the second quarter of 2026, up 22.7% year over year.
• Gross margin was 13.9% in the three-month period ended June 26, 2026, up from 11.3% in the same period of 2025.
• Net income was $998,000 for the three-month period ended June 26, 2026, compared to a net loss of $9.4 million in the prior year period.
• Cash and cash equivalents totaled $256.5 million as of June 26, 2026.
• Net proceeds from the issuance of 2.5 million ordinary shares in June 2026 were $195.4 million.

Evolving With the Industry

Ichor has moved from making simple components to providing integrated subsystems that are vital for modern chip fabrication. This evolution helps manufacturers reduce development time and manage the increasing complexity of semiconductor technology.