Ichor Holdings Files Q3 2024 10-Q

TL;DR

ICHR 10-Q filed: Q3 2024 financials are in. Check balance sheet for details.

AI Summary

Ichor Holdings, Ltd. filed its 10-Q for the period ending September 27, 2024. The filing details financial performance and operational updates for the third quarter. Key financial figures and balance sheet information are presented, reflecting the company's ongoing business activities in the semiconductor industry.

Why It Matters

This filing provides investors with a detailed look at Ichor Holdings' financial health and performance during the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health indicators or operational changes.

Key Players & Entities

• ICHOR HOLDINGS, LTD. (company) — Filer of the 10-Q
• 20240927 (date) — End of the reporting period
• 20241105 (date) — Filing date
• 3185 LAURELVIEW CT. (location) — Company's business and mailing address
• FREMONT (location) — Company's business and mailing city
• CA (location) — Company's business and mailing state
• 94538 (location) — Company's business and mailing ZIP code

FAQ

Key Financial Figures

• $0.0001 — registered Ordinary Shares, par value $0.0001 ICHR The NASDAQ Stock Market LLC Indi

Filing Documents

• ichr-20240927.htm (10-Q) — 926KB
• ex-311_24q3.htm (EX-31.1) — 9KB
• ex-312_24q3.htm (EX-31.2) — 9KB
• ex-321_24q3.htm (EX-32.1) — 4KB
• ex-322_24q3.htm (EX-32.2) — 4KB
• 0001628280-24-045122.txt ( ) — 4797KB
• ichr-20240927.xsd (EX-101.SCH) — 33KB
• ichr-20240927_cal.xml (EX-101.CAL) — 55KB
• ichr-20240927_def.xml (EX-101.DEF) — 138KB
• ichr-20240927_lab.xml (EX-101.LAB) — 482KB
• ichr-20240927_pre.xml (EX-101.PRE) — 319KB
• ichr-20240927_htm.xml (XML) — 528KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS (UNAUDITED)

FINANCIAL STATEMENTS (UNAUDITED) 1 Consolidated Balance Sheets 1 Consolidated Statements of Operations 2 Consolidated Statements of Shareholders' Equity 3 Consolidated Statements of Cash Flows 5

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 6 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 14 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 24 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 25

- OTHER INFORMATION

PART II - OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 25 ITEM 1A.

RISK FACTORS

RISK FACTORS 25 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 25 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 25 ITEM 4. MINE SAFETY DISCLOSURES 25 ITEM 5. OTHER INFORMATION 26 ITEM 6. EXHIBITS 27

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) ICHOR HOLDINGS, LTD. Consolidated Balance Sheets (in thousands, except share and per share amounts) (unaudited) September 27, 2024 December 29, 2023 Assets Current assets: Cash and cash equivalents $ 116,447 $ 79,955 Accounts receivable, net 84,150 66,721 Inventories 239,359 245,885 Prepaid expenses and other current assets 7,105 8,804 Total current assets 447,061 401,365 Property and equipment, net 89,283 92,755 Operating lease right-of-use assets 35,136 36,611 Other noncurrent assets 14,675 11,912 Deferred tax assets, net 3,366 3,148 Intangible assets, net 50,979 57,288 Goodwill 335,402 335,402 Total assets $ 975,902 $ 938,481 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 80,963 $ 60,490 Accrued liabilities 17,338 14,871 Other current liabilities 6,899 6,638 Current portion of long-term debt 7,500 7,500 Current portion of lease liabilities 10,239 9,463 Total current liabilities 122,939 98,962 Long-term debt, less current portion, net 122,782 241,183 Lease liabilities, less current portion 26,090 28,187 Deferred tax liabilities, net 1,169 1,169 Other non-current liabilities 5,647 4,303 Total liabilities 278,627 373,804 Shareholders' equity: Preferred shares ($ 0.0001 par value; 20,000,000 shares authorized; 0 shares issued and outstanding) — — Ordinary shares ($ 0.0001 par value; 200,000,000 shares authorized; 33,724,917 and 29,435,398 shares outstanding, respectively; 38,162,356 and 33,872,837 shares issued, respectively) 3 3 Additional paid in capital 601,056 451,581 Treasury shares at cost ( 4,437,439 shares) ( 91,578 ) ( 91,578 ) Retained earnings 187,794 204,671 Total shareholders' equity 697,275 564,677 Total liabilities and shareholders' equity $ 975,902 $ 938,481 The accompanying notes are an integral part of these consolidated financial statements. 1 ICHOR HOLDINGS, LTD. Consolidated Statements of Operations (in thousands, except shar

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (dollar figures in tables in thousands, except per share amounts) (unaudited) Note 1 – Basis of Presentation and Selected Significant Accounting Policies Basis of Presentation These consolidated unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. ("GAAP"). All intercompany balances and transactions have been eliminated upon consolidation. All dollar figures presented in tables in the notes to the consolidated financial statements are in thousands, except per share amounts. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted as permitted by the U.S. Securities and Exchange Commission's rules and regulations for interim reporting. These consolidated financial statements should be read in conjunction with our audited financial statements and notes thereto included in our Annual Report on Form 10K for the year ended December 29, 2023. Year End We use a 52- or 53-week fiscal year ending on the last Friday in December. Our fiscal years ending December 27, 2024 and December 29, 2023 are each 52 weeks. References to 2024 and 2023 relate to the fiscal years then ended, respectively. The three-month periods ended September 27, 2024 and September 29, 2023 are each 13 weeks. References to the third quarter of 2024 and 2023 relate to the three-month periods then ended . Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods presented. We base our estimates and judgments on historical experience and on various other assumptions that we believe are

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View this 10-Q filing on SEC EDGAR