Seagate Technology Holdings plc Files Q2 FY25 10-Q
Ticker: STX · Form: 10-Q · Filed: Jan 24, 2025 · CIK: 1137789
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Seagate's Q2 FY25 10-Q is in. Check financials.
AI Summary
Seagate Technology Holdings plc filed a 10-Q for the period ending December 27, 2024. The company reported financial results for its second quarter of fiscal year 2025. Specific financial figures and operational details are contained within the filing, which provides an update on the company's performance and financial position.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Seagate Technology Holdings plc, crucial for understanding the company's current health and future prospects in the computer storage market.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal risks related to market conditions, competition, or company performance.
Key Numbers
- 211,707,393 — Shares Outstanding (Indicates the total number of shares available for trading as of the reporting period.)
Key Players & Entities
- Seagate Technology Holdings plc (company) — Filer of the 10-Q report
- 2024-12-27 (date) — End of the reporting period
- 2025-01-24 (date) — Filing date of the report
- COMPUTER STORAGE DEVICES [3572] (industry) — Standard Industrial Classification for Seagate
FAQ
What was the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing was December 27, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on January 24, 2025.
What is the Standard Industrial Classification (SIC) code for Seagate Technology Holdings plc?
The SIC code for Seagate Technology Holdings plc is COMPUTER STORAGE DEVICES [3572].
What is the fiscal year end for Seagate Technology Holdings plc?
The fiscal year end for Seagate Technology Holdings plc is June 27.
What is the number of shares outstanding mentioned in the filing?
The filing mentions 211,707,393 shares outstanding.
Filing Stats: 4,895 words · 20 min read · ~16 pages · Grade level 15.7 · Accepted 2025-01-24 16:11:19
Key Financial Figures
- $0.00001 — Registered Ordinary Shares, par value $0.00001 per share STX The NASDAQ Global Select
Filing Documents
- stx-20241227.htm (10-Q) — 1585KB
- stx-ex101_20241227.htm (EX-10.1) — 108KB
- stx-ex311_20241227.htm (EX-31.1) — 11KB
- stx-ex312_20241227.htm (EX-31.2) — 11KB
- stx-ex321_20241227.htm (EX-32.1) — 9KB
- 0001137789-25-000020.txt ( ) — 7672KB
- stx-20241227.xsd (EX-101.SCH) — 39KB
- stx-20241227_cal.xml (EX-101.CAL) — 64KB
- stx-20241227_def.xml (EX-101.DEF) — 220KB
- stx-20241227_lab.xml (EX-101.LAB) — 578KB
- stx-20241227_pre.xml (EX-101.PRE) — 418KB
- stx-20241227_htm.xml (XML) — 1143KB
Financial Statements
Financial Statements 3 Condensed Consolidated Balance Sheets - Dec ember 27, 2024 (Unaudited) and June 28, 2024 4 Condensed Consolidated Statements of Operations - Three and Six Months Ended Dec ember 27, 2024 and Dec ember 29, 2023 (Unaudited) 5 Condensed Consolidated Statements of Comprehensive Income (Loss) - Three and Six Months Ended Dec ember 27, 2024 and Dec ember 29, 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows - Six Months Ended Dec ember 27, 2024 and Dec ember 29, 2023 (Unaudited) 7 Condensed Consolidated Statements of Shareholders' Deficit - Three and Six Months Ended Dec ember 27, 2024 and Dec ember 29, 2023 (Unaudited) 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 10 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 27 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.
Controls and Procedures
Controls and Procedures 35 PART II OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 36 Item 1A.
Risk Factors
Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 57 Item 3. Defaults Upon Senior Securities 57 Item 4. Mine Safety Disclosures 57 Item 5. Other Information 58 Item 6. Exhibits 59
SIGNATURES
SIGNATURES 60 2 PART I FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Table of Contents Page Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statements of Comprehensive Income (Loss) 6 Condensed Consolidated Statements of Cash Flows 7 Condensed Consolidated Statements of Shareholders' Deficit 8 Notes to Condensed Consolidated Financial Statements Note 1. Basis of Presentation and Summary of Significant Accounting Policies 10 Note 2. Balance Sheet Information 11 Note 3. Debt 14 Note 4. Income Taxes 16 Note 5. Derivative Financial Instruments 17 Note 6. Fair Value 19 Note 7. Shareholders' Deficit 22 Note 8. Revenue 22 Note 9. Guarantees 22 Note 10. Net Income (Loss) Per Share 23 Note 11. Legal, Environmental and Other Contingencies 23 Note 12. Commitments 26 Note 13. Subsequent Event 26 3 SEAGATE TECHNOLOGY HOLDINGS PLC CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) December 27, 2024 June 28, 2024 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 1,238 $ 1,358 Accounts receivable, net 587 429 Inventories, net 1,473 1,239 Other current assets 364 306 Total current assets 3,662 3,332 Property, equipment and leasehold improvements, net 1,595 1,614 Goodwill 1,219 1,219 Deferred income taxes 1,032 1,037 Other assets, net 451 537 Total Assets $ 7,959 $ 7,739 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable $ 1,567 $ 1,786 Accrued employee compensation 204 106 Accrued warranty 63 74 Current portion of long-term debt 479 479 Accrued expenses 656 654 Total current liabilities 2,969 3,099 Long-term accrued warranty 73 75 Other non-current liabilities 796 861 Long-term debt, less current portion 5,200 5,195 Total Liabilities 9,038 9,230 Commitments and contingencies (See Notes 9, 11 and 12) Shareholders' Deficit: Ordinary shares and additional paid-in capital 7,577 7,471 Accumulated other comprehensive loss ( 2 ) (