Asml Holding NV 6-K, filed Oct 15, 2025
Asml Holding NV (ASML)
6-K
2025-10-15
For: 2025-09-28
View Original
Added on
April 02, 2026
About this 6-K
Asml Holding NV filed this 6-K on October 15, 2025.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
______________________
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For October 15, 2025
Commission File Number 001-33463
______________________
ASML Holding N.V.
De Run 6501
5504 DR Veldhoven
The Netherlands
(Address of principal executive offices)
______________________
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(7): ¨
EXHIBITS 99.1 AND 99.3 TO THIS REPORT ON FORM 6-K ARE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-116337), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-126340), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-136362), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-141125), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-142254), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-144356), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-147128), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-153277), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-162439), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-170034), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-188938), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-190023), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-192951), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-203390), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-219442) AND THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-227464) OF ASML HOLDING N.V. AND IN THE OUTSTANDING PROSPECTUSES CONTAINED IN SUCH REGISTRATION STATEMENTS.
Exhibits 
99.1 “ASML reports €7.5 billion total net sales and €2.1 billion net income in Q3 2025. Full-year 2025 expected total net sales growth of around 15% with gross margin around 52%", press release dated October 15, 2025
99.2 “ASML reports €7.5 billion total net sales and €2.1 billion net income in Q3 2025. Full-year 2025 expected total net sales growth of around 15% with gross margin around 52%", presentation dated October 15, 2025
99.3 Summary US GAAP Consolidated Financial Statements
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
ASML HOLDING N.V. (Registrant)
Date: October 15, 2025 By: /s/ Christophe D. Fouquet
Christophe D. Fouquet
Chief Executive Officer
Exhibit 99.1
ASML reports €7.5 billion total net sales and €2.1 billion net income in Q3 2025
Full-year 2025 expected total net sales growth of around 15% with gross margin around 52%
VELDHOVEN, the Netherlands, October 15, 2025 – Today, ASML Holding NV (ASML) has published its 2025 third-quarter results.
•Q3 total net sales of €7.5 billion, gross margin of 51.6%, net income of €2.1 billion
•Quarterly net bookings in Q3 of €5.4 billion2 of which €3.6 billion is EUV
•ASML expects Q4 2025 total net sales between €9.2 billion and €9.8 billion, and a gross margin between 51% and 53%
•ASML expects a full-year 2025 total net sales increase of around 15% relative to 2024, with a gross margin of around 52%
•ASML does not expect 2026 total net sales to be below 2025
| (Figures in millions of euros unless otherwise indicated) | Q2 2025 | Q3 2025 | ||||||||||||||||||||||||
Total net sales | 7,692 | 7,516 | ||||||||||||||||||||||||
...of which Installed Base Management sales1 | 2,096 | 1,962 | ||||||||||||||||||||||||
| New lithography systems sold (units) | 67 | 66 | ||||||||||||||||||||||||
| Used lithography systems sold (units) | 9 | 6 | ||||||||||||||||||||||||
Net bookings2 | 5,541 | 5,399 | ||||||||||||||||||||||||
| Gross profit | 4,130 | 3,880 | ||||||||||||||||||||||||
| Gross margin (%) | 53.7 | 51.6 | ||||||||||||||||||||||||
| Net income | 2,290 | 2,125 | ||||||||||||||||||||||||
| EPS (basic; in euros) | 5.90 | 5.49 | ||||||||||||||||||||||||
| End-quarter cash and cash equivalents and short-term investments | 7,249 | 5,128 | ||||||||||||||||||||||||
(1) Installed Base Management sales equals our net service and field option sales.
(2) Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted.
Numbers have been rounded for readers' convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com.
CEO statement and outlook
"Our third-quarter total net sales of €7.5 billion and gross margin of 51.6% were in line with our guidance, reflecting a good quarter for ASML.
"On the technology side, we see litho intensity continue to develop positively as EUV adoption gains momentum, including progress on High NA EUV. In line with our plans to support our customers in the 3D integration space, we shipped ASML’s first product serving Advanced Packaging, the TWINSCAN XT:260, an i-line scanner offering up to 4x productivity compared to existing solutions. Finally, our partnership with Mistral AI allows us to embed AI across our entire holistic portfolio, in order to increase the performance and productivity of our systems and the yield of our customers' processes.
"On the market side, we have seen continued positive momentum around investments in AI, and have also seen this extending to more customers, both in leading-edge Logic and advanced DRAM. On the other hand, we expect China customer demand, and therefore our China total net sales in 2026 to decline significantly compared to our very strong business there in 2024 and 2025.
"We do not expect 2026 total net sales to be below 2025. We will provide more details on our 2026 outlook in January.
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"We expect fourth-quarter total net sales between €9.2 billion and €9.8 billion, with a gross margin between 51% and 53%. We expect R&D costs of around €1.2 billion and SG&A costs of around €320 million. For the full year 2025, we expect an increase of around 15% in total net sales and a gross margin of around 52%, with an expected very strong fourth quarter," said ASML President and Chief Executive Officer Christophe Fouquet.
Update dividend and share buyback program
An interim dividend of €1.60 per ordinary share will be made payable on November 6, 2025.
In the third quarter, we purchased around €148 million worth of shares under the current 2022–2025 share buyback program.
As of September 28, 2025, ASML has acquired 9.0 million of shares under this program for a total consideration of €5.9 billion. ASML does not expect to complete the €12 billion share buyback program in full within the 2022–2025 timeframe. We intend to announce a new share buyback program in January 2026.
Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend are published on ASML's website (www.asml.com/investors).
Media Relations contacts | Investor Relations contacts | ||||
| Monique Mols +31 6 5284 4418 | Jim Kavanagh +31 40 268 3938 | ||||
Sarah de Crescenzo +1 925 899 8985 | Pete Convertito +1 203 919 1714 | ||||
Karen Lo +886 9 397 88635 | Peter Cheang +886 3 659 6771 | ||||
Quarterly video interview and investor call
With this press release, ASML is publishing a video interview in which CEO Christophe Fouquet and CFO Roger Dassen discuss the 2025 third quarter and outlook for 2025. This video and the video transcript can be viewed on www.asml.com shortly after the publication of this press release.
An investor call for both investors and the media will be hosted by CEO Christophe Fouquet and CFO Roger Dassen on October 15, 2025 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website.
About ASML
ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity's toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across EMEA, the US and Asia. Every day, ASML’s more than 44,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com.
US GAAP Reporting
ASML's primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly summary US GAAP consolidated statements of operations, consolidated statements of cash flows and consolidated balance sheets are available on www.asml.com.
The consolidated balance sheets of ASML Holding N.V. as of September 28, 2025, the related consolidated statements of operations and consolidated statements of cash flows for the quarter and nine months ended September 28, 2025 as presented in this press release are unaudited.
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Regulated information
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
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Forward Looking Statements
This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in the semiconductor industry and end markets, expected trends in product mix and geography, and business environment trends, expected growth in the semiconductor industry by 2030, statements with respect to AI including goals for use of AI in our portfolio and the expected impact of AI demand on our business, industry and results, statements with respect to EUV adoption, our expectation that lithography will remain at the heart of customer innovation, expected increase in critical lithography exposures, statements with respect to our product portfolio, our expectation that customer fundamentals remain strong, expected reduction in level of business uncertainty, expected demand, shipments, bookings, outlook of market segments, outlook and expected financial results including outlook and expected results for Q4 2025, including net sales, Installed Base Management sales, gross margin, R&D costs, SG&A costs, outlook and expected financial results for full year 2025, including expected full year 2025 total net sales and growth, gross margin, and estimated annualized effective tax rate and expected IBM sales, expectation of a very strong fourth quarter, and expectations with respect to EUV and DUV sales in 2026, expectations with respect to total 2026 net sales, statements made at our 2024 Investor Day, including modelled revenue and gross margin opportunity for 2030, our expectation to continue to return significant amounts of cash to shareholders through growing dividends and share buybacks, expectations with respect to our 2022-2025 share buyback program and plan to announce a new share buyback program in January 2026, and statements with respect to dividends, statements with respect to expected performance and capabilities of our systems and customer plans, statements with respect to our ESG strategy and commitments and other non-historical statements. You can generally identify these statements by the use of words like “may”, “expect”, “will”, “could”, “should”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “continue”, “target”, “future”, “progress”, “goal”, “model”, “opportunity”, “commitment” and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions, plans and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, risks relating to customer demand, semiconductor equipment industry capacity, worldwide demand for semiconductors and semiconductor manufacturing capacity, lithography tool utilization and semiconductor inventory levels, general trends and consumer confidence in the semiconductor industry, the impact of general economic conditions, including the impact of the current macroeconomic and geopolitical environment on the semiconductor industry, semiconductor market conditions, the ultimate impact of AI on our industry and business and semiconductor demand, the impact of inflation, interest rates, wars and geopolitical developments, the impact of pandemics, the performance of our systems, the success of technology advances and the pace of new product development and customer acceptance of and demand for new technologies and products, our production capacity and ability to adjust capacity to meet demand, supply chain capacity, timely availability of parts and components, raw materials, critical manufacturing equipment and qualified employees, our ability to produce systems to meet demand, the number and timing of systems ordered, shipped and recognized in revenue, risks relating to fluctuations in net bookings and our ability to convert bookings into sales, the risk of order cancellation, delays or push outs and restrictions on shipments of systems, including ordered systems, under export controls, risks relating to the trade environment, import/export and national security regulations and orders and their impact on us, including the impact of recent and future changes in export regulations and the impact of such regulations on our ability to obtain necessary licenses and to sell our systems and provide services to certain customers, the impact of the tariff announcements, exchange rate fluctuations, changes in tax rates, available liquidity and free cash flow and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, the number of shares that we repurchase under our share repurchase program, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, our ability to meet ESG goals and commitments and execute our ESG strategy, other factors that may impact ASML’s business or financial results, and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2024 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law.
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ASML 2025 Third-Quarter Veldhoven, the Netherlands October 15, 2025 ASML reports €7.5 billion total net sales and €2.1 billion net income in Q3 2025 Full-year 2025 expected total net sales growth of around 15% with gross margin around 52% Exhibit 99.2
Page 2October 15, 2025 Public • Investor key messages • Business summary • Outlook • Financial statements Agenda
Page 3October 15, 2025 Investor key messages
Page 4October 15, 2025 Public Investor key messages • The semiconductor industry remains strong, driven by artificial intelligence adoption across an expanding applications space and is expected to surpass $1 trillion in revenue by 2030 • The industry will require major innovations to address AI power consumption and cost challenges • Our customers remain at the core of our strategy and we believe that lithography will remain at the heart of their innovation. We anticipate that an increased number of critical lithography exposures for advanced logic and memory processes will be required • Our flexible and versatile portfolio is well positioned to address all customer needs as we extend holistic lithography to support 3D integration, improve DUV and EUV performance and cost effectiveness and scale EUV technology well into the next decade • Based on different market and lithography intensity scenarios, as presented during our Investor Day in November 2024, we see an opportunity to achieve 2030 annual revenue between approximately €44 billion and €60 billion with a gross margin between approximately 56% and 60% • ASML values the strong industry partnerships which are critical to our success and our collective commitment to a leadership position in ESG • We expect to continue to return significant amounts of cash to our shareholders through growing dividends and share buybacks
Page 5October 15, 2025 Business summary
Page 6October 15, 2025 Public 1 Installed Base Management equals our net service and field option sales. 2 Income from operations as a percentage of total net sales. 3 Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted. Q3 results summary Numbers have been rounded for readers' convenience. Q3 2025 Total net sales €7.5 billion Net system sales €5.6 billion Installed Base Management1 sales €2.0 billion Gross Margin 51.6% Operating margin2 32.8% Net income as a percentage of total net sales 28.3% Earnings per share (basic) €5.49 Net bookings3 €5.4 billion of which EUV bookings €3.6 billion
Page 7October 15, 2025 Public XT:260 shipped, 1st product serving Advanced Packaging Offering up to 4x productivity compared to existing solutions
Page 8October 15, 2025 Public Memory 31% Logic 69% Net system sales breakdown (Quarterly) End-Use Memory 35% Logic 65% Sales in lithography units 9 38 4 11 10 EUV ArFi ArFdry KrF I-line Sales in lithography units 11 31 4 16 14 EUV ArFi ArFdry KrF I-line Q3’25 Net system sales €5,554 million Q2’25 Net system sales €5,596 million EUV 48% ArFi 43% ArF Dry 2% KrF 4% I-line 1% Metrology & Inspection 2% USA 10% South Korea 19% Taiwan 35% China 27% Japan 5% Rest of Asia 2% EMEA 2% Technology EUV 38% ArFi 52% ArF Dry 2% KrF 3% I-line 1% Metrology & Inspection 4% Region (ship to location) USA 6% South Korea 18% Taiwan 30% China 42% Japan 1% Rest of Asia 3%
Page 9October 15, 2025 Public Logic Memory Installed Base Management1 1 Installed Base Management equals our net service and field option sales. Total net sales by End-use To ta l N et S al es (€ , i n m ill io ns ) 18,611 21,173 27,559 28,263 22,949 4,064 5,453 5,954 8,574 6,113 9,589 9,977 15,985 13,195 10,777 4,958 5,743 5,620 6,494 6,059 2021 2022 2023 2024 2025 0 10,000 20,000 30,000 through Q3
Page 10October 15, 2025 Public Net systems bookings1 activity by End-use (Quarterly) Q3’25 net system bookings €5,399 million Q2’25 net system bookings €5,541 million Memory 16% Logic 84% 1 Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted. Memory 47% Logic 53%
Page 11October 15, 2025 Public • In Q3, ASML paid an interim dividend of €1.60 per ordinary share • The second quarterly interim dividend over 2025 will be €1.60 per ordinary share and will be made payable on November 6, 2025 • In Q3 2025 we purchased around 218 thousand shares for a total amount of around €148 million • ASML does not expect to complete the €12 billion share buyback program in full within the 2022-2025 timeframe. We intend to announce a new share buyback program in January 2026 € bi llio n Cash return (cumulative) up to 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 10 15 20 25 30 35 40 45 A nn ua liz ed d iv id en d (€ ) Dividend 1.601.20 1.40 2.10 2.40 2.75 5.50 5.80 6.10 6.40 1.60 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1 2 3 4 5 6 7 Cash return to shareholders Share buyback Dividend paid Third interim and final dividend for a year are paid in the subsequent year Total dividend through Q3 Interim dividend (paid) Interim dividend (to be paid)
Page 12October 15, 2025 Outlook
Page 13October 15, 2025 Public Outlook 1 Installed Base Management equals our net service and field option sales. 2 Relative to 2024 Q4 2025 Total net sales between €9.2 billion and €9.8 billion of which Installed Base Management1 sales around €2.1 billion Gross margin between 51% and 53% R&D costs around €1.2 billion SG&A costs around €320 million FY 2025 Expected total net sales growth2 around 15% Gross margin around 52% Annualized effective tax rate around 17%
Page 14October 15, 2025 Financial Statements
Page 15October 15, 2025 Public Consolidated statements of operations Quarter on Quarter (in millions €, except otherwise indicated) Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Total net sales 7,467 9,263 7,742 7,692 7,516 Gross profit 3,793 4,790 4,180 4,130 3,880 Gross margin % 50.8 51.7 54.0 53.7 51.6 R&D costs (1,055) (1,116) (1,161) (1,167) (1,109) SG&A costs (297) (318) (281) (299) (303) Income from operations 2,441 3,356 2,738 2,664 2,468 Operating income as a % of total net sales 32.7 36.2 35.4 34.6 32.8 Net income 2,077 2,693 2,355 2,290 2,125 Net income as a % of total net sales 27.8 29.1 30.4 29.8 28.3 Earnings per share (basic) € 5.28 6.85 6.00 5.90 5.49 Earnings per share (diluted) € 5.28 6.84 6.00 5.90 5.48 Lithography systems sold (units) 1 116 132 77 76 72 Net bookings 2 2,633 7,088 3,936 5,541 5,399 1 Lithography systems do not include metrology and inspection systems. 2 Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted. These numbers have been prepared in accordance with US GAAP. Numbers have been rounded for readers' convenience.
Page 16October 15, 2025 Public Consolidated statements of cash flows Quarter on Quarter (in millions €) Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Cash and cash equivalents, beginning of period 4,814 4,979 12,736 9,098 7,243 Net cash provided by (used in) operating activities 950 9,545 (58) 748 559 Net cash provided by (used in) investing activities (215) (1,233) (416) (428) (1,928) Net cash provided by (used in) financing activities (565) (567) (3,151) (2,164) (742) Effect of changes in exchange rates on cash (4) 12 (12) (11) (6) Net increase (decrease) in cash and cash equivalents 166 7,757 (3,637) (1,855) (2,117) Cash and cash equivalents, end of period 4,979 12,736 9,098 7,243 5,126 Short-term investments 5 5 5 5 2 Cash and cash equivalents and short-term investments 4,985 12,741 9,104 7,249 5,128 Purchases of property, plant and equipment and intangible assets (416) (706) (417) (429) (315) Free cash flow 1 534 8,839 (475) 319 244 1 Free cash flow, which is a non-GAAP measure, is defined as net cash provided by (used in) operating activities minus purchases of Property, plant and equipment and intangible assets, see US GAAP Consolidated Financial Statements. These numbers have been prepared in accordance with US GAAP. Numbers have been rounded for readers' convenience.
Page 17October 15, 2025 Public Consolidated balance sheets Quarter End (in millions €) Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Assets Cash & cash equivalents and short-term investments 4,985 12,741 9,104 7,249 5,128 Accounts receivable and finance receivables, net 6,171 4,877 5,132 5,703 6,030 Contract assets 554 321 407 275 367 Inventories, net 11,414 10,892 11,025 11,576 11,763 Loans receivable 929 1,457 1,461 1,463 1,876 Other assets 2,519 2,731 2,708 2,810 2,493 Tax assets 2,263 2,224 2,004 1,929 1,932 Equity method investments 1,083 903 939 1,029 1,109 Equity investments — — — — 1,227 Goodwill 4,589 4,589 4,589 4,589 4,589 Other intangible assets 653 621 592 566 556 Property, plant and equipment 6,212 6,847 7,153 7,296 7,681 Right-of-use assets 394 387 365 365 346 Total assets 41,766 48,590 45,479 44,849 45,097 Liabilities and shareholders' equity Current liabilities 16,026 20,051 18,124 18,616 19,225 Non-current liabilities 9,589 10,062 9,854 8,615 6,879 Shareholders' equity 16,151 18,477 17,501 17,618 18,993 Total liabilities and shareholders' equity 41,766 48,590 45,479 44,849 45,097 These numbers have been prepared in accordance with US GAAP. Numbers have been rounded for readers' convenience.
Page 18October 15, 2025 Public This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in the semiconductor industry and end markets, expected trends in product mix and geography, and business environment trends, expected growth in the semiconductor industry by 2030, statements with respect to AI including goals for use of AI in our portfolio and the expected impact of AI demand on our business, industry and results, statements with respect to EUV adoption, our expectation that lithography will remain at the heart of customer innovation, expected increase in critical lithography exposures, statements with respect to our product portfolio, our expectation that customer fundamentals remain strong, expected reduction in level of business uncertainty, expected demand, shipments, bookings, outlook of market segments, outlook and expected financial results including outlook and expected results for Q4 2025, including net sales, Installed Base Management sales, gross margin, R&D costs, SG&A costs, outlook and expected financial results for full year 2025, including expected full year 2025 total net sales and growth, gross margin, and estimated annualized effective tax rate and expected IBM sales, expectation of a very strong fourth quarter, and expectations with respect to EUV and DUV sales in 2026, expectations with respect to total 2026 net sales, statements made at our 2024 Investor Day, including modelled revenue and gross margin opportunity for 2030, our expectation to continue to return significant amounts of cash to shareholders through growing dividends and share buybacks, expectations with respect to our 2022-2025 share buyback program and plan to announce a new share buyback program in January 2026, and statements with respect to dividends, statements with respect to expected performance and capabilities of our systems and customer plans, statements with respect to our ESG strategy and commitments and other non-historical statements. You can generally identify these statements by the use of words like “may”, “expect”, “will”, “could”, “should”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “continue”, “target”, “future”, “progress”, “goal”, “model”, “opportunity”, “commitment” and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions, plans and projections about our business and our future financial results and readers should not place undue reliance on them. Forward- looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, risks relating to customer demand, semiconductor equipment industry capacity, worldwide demand for semiconductors and semiconductor manufacturing capacity, lithography tool utilization and semiconductor inventory levels, general trends and consumer confidence in the semiconductor industry, the impact of general economic conditions, including the impact of the current macroeconomic and geopolitical environment on the semiconductor industry, semiconductor market conditions, the ultimate impact of AI on our industry and business and semiconductor demand, the impact of inflation, interest rates, wars and geopolitical developments, the impact of pandemics, the performance of our systems, the success of technology advances and the pace of new product development and customer acceptance of and demand for new technologies and products, our production capacity and ability to adjust capacity to meet demand, supply chain capacity, timely availability of parts and components, raw materials, critical manufacturing equipment and qualified employees, our ability to produce systems to meet demand, the number and timing of systems ordered, shipped and recognized in revenue, risks relating to fluctuations in net bookings and our ability to convert bookings into sales, the risk of order cancellation, delays or push outs and restrictions on shipments of systems, including ordered systems, under export controls, risks relating to the trade environment, import/export and national security regulations and orders and their impact on us, including the impact of recent and future changes in export regulations and the impact of such regulations on our ability to obtain necessary licenses and to sell our systems and provide services to certain customers, the impact of the tariff announcements, exchange rate fluctuations, changes in tax rates, available liquidity and free cash flow and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, the number of shares that we repurchase under our share repurchase program, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, our ability to meet ESG goals and commitments and execute our ESG strategy, other factors that may impact ASML’s business or financial results, and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2024 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law. Forward looking statements
Financial Statements US GAAP Q3 2025 Exhibit 99.3
ASML Financial Statements US GAAP Q3 2025 2 Summary US GAAP Consolidated Statements of Operations 3 Summary US GAAP Ratios and Other Data 4 Summary US GAAP Consolidated Balance Sheets 5 Summary US GAAP Consolidated Statements of Cash Flows 6 Quarterly Summary US GAAP Consolidated Statements of Operations 7 Quarterly Summary US GAAP Ratios and Other Data 8 Quarterly Summary US GAAP Consolidated Balance Sheets 9 Quarterly Summary US GAAP Consolidated Statements of Cash Flows 10 Notes to the Summary US GAAP Consolidated Financial Statements 11 Forward Looking Statements Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Contents
Three months ended Nine months ended Sep 29, Sep 28, Sep 29, Sep 28, (unaudited, in millions €, except per share data) 2024 2025 2024 2025 Net system sales 5,926.0 5,553.8 14,652.8 16,890.3 Net service and field option sales 1,541.3 1,962.2 4,347.3 6,058.9 Total net sales 7,467.3 7,516.0 19,000.1 22,949.2 Total cost of sales (3,673.9) (3,635.7) (9,297.9) (10,759.7) Gross profit 3,793.4 3,880.3 9,702.2 12,189.5 Research and development costs (1,055.2) (1,108.7) (3,187.7) (3,436.5) Selling, general and administrative costs (297.0) (303.2) (847.3) (882.5) Income from operations 2,441.2 2,468.4 5,667.2 7,870.5 Interest and other, net (0.8) 19.4 13.5 93.3 Income before income taxes 2,440.4 2,487.8 5,680.7 7,963.8 Income tax expense (441.2) (442.2) (956.8) (1,394.7) Income after income taxes 1,999.2 2,045.6 4,723.9 6,569.1 Profit related to equity method investments 77.3 78.9 154.3 200.7 Net income 2,076.5 2,124.5 4,878.2 6,769.8 Basic net income per ordinary share 5.28 5.49 12.40 17.39 Diluted net income per ordinary share 5.28 5.48 12.39 17.38 Weighted average number of ordinary shares used in computing per share amounts (in millions): Basic 393.2 387.3 393.3 389.2 Diluted 393.6 387.6 393.6 389.5 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2025 2 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Summary US GAAP Consolidated Statements of Operations
Three months ended Nine months ended Sep 29, Sep 28, Sep 29, Sep 28, (unaudited, in millions €, except otherwise indicated) 2024 2025 2024 2025 Gross profit as a percentage of net sales 50.8 % 51.6 % 51.1 % 53.1 % Income from operations as a percentage of net sales 32.7 % 32.8 % 29.8 % 34.3 % Net income as a percentage of net sales 27.8 % 28.3 % 25.7 % 29.5 % Income taxes as a percentage of income before income taxes 18.1 % 17.8 % 16.8 % 17.5 % Shareholders’ equity as a percentage of total assets 38.7 % 42.1 % 38.7 % 42.1 % Sales of lithography systems (in units) 1 116 72 286 225 Net bookings 2 2,633 5,399 11,811 14,877 Number of payroll employees (in FTEs) 42,372 43,461 42,372 43,461 Number of temporary employees (in FTEs) 1,417 789 1,417 789 1. Lithography systems do not include metrology and inspection systems. 2. Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted. Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2025 3 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Summary US GAAP Ratios and Other Data
Dec 31, Sep 28, (unaudited, in millions €) 2024 2025 Assets Cash and cash equivalents 12,735.9 5,126.5 Short-term investments 5.4 1.7 Accounts receivable, net 4,477.5 5,364.3 Finance receivables, net 82.6 666.2 Current tax assets 283.6 93.0 Contract assets 320.6 366.7 Inventories, net 10,891.5 11,762.8 Loans receivable — 190.0 Other assets 1,940.3 1,575.1 Total current assets 30,737.4 25,146.3 Finance receivables, net 317.2 — Deferred tax assets 1,940.7 1,838.6 Loans receivable 1,456.6 1,686.0 Other assets 790.8 918.5 Equity method investments 903.0 1,109.3 Equity investments — 1,226.9 Goodwill 4,588.6 4,588.6 Other intangible assets, net 621.3 555.7 Property, plant and equipment, net 6,846.8 7,681.2 Right-of-use assets 387.2 346.0 Total non-current assets 17,852.2 19,950.8 Total assets 48,589.6 45,097.1 Dec 31, Sep 28, (unaudited, in millions €) 2024 2025 Liabilities and shareholders’ equity Current liabilities 20,051.4 19,224.9 Total current liabilities 20,051.4 19,224.9 Long-term debt 3,677.3 2,704.7 Deferred and other tax liabilities 299.2 187.2 Contract liabilities 5,625.4 3,572.3 Accrued and other liabilities 459.5 414.5 Total non-current liabilities 10,061.4 6,878.7 Total liabilities 30,112.8 26,103.6 Total shareholders’ equity 18,476.8 18,993.5 Total liabilities and shareholders’ equity 48,589.6 45,097.1 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2025 4 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Summary US GAAP Consolidated Balance Sheets
Cash flows from operating activities Net income 2,076.5 2,124.5 4,878.2 6,769.8 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 235.7 274.6 677.6 770.8 Impairment and loss (gain) on disposal 6.8 3.1 24.7 21.7 Share-based compensation expense 53.3 57.7 119.6 146.7 Inventory reserves 154.8 138.6 387.0 297.9 Deferred tax expense (benefit) (114.6) (55.3) (116.5) 61.9 Equity method investments (81.0) (80.8) (165.5) (206.4) Changes in assets and liabilities (1,381.6) (1,903.3) (4,183.7) (6,614.2) Net cash provided by (used in) operating activities 949.9 559.1 1,621.4 1,248.2 Cash flows from investing activities Purchase of property, plant and equipment (414.9) (295.9) (1,363.2) (1,125.7) Purchase of intangible assets (0.9) (19.5) (14.4) (35.1) Purchase of short-term investments (3.8) 3.5 (304.3) 3.5 Maturity of short-term investments 203.9 — 304.3 — Purchase of equity investments — (1,210.0) — (1,210.0) Loans issued and repayment thereof 0.7 (405.9) 1.2 (404.2) Net cash provided by (used in) investing activities (215.0) (1,927.8) (1,376.4) (2,771.5) Three months ended Nine months ended Sep 29, Sep 28, Sep 29, Sep 28, (unaudited, in millions €) 2024 2025 2024 2025 Cash flows from financing activities Dividend paid (595.8) (619.6) (1,855.1) (1,931.2) Purchase of treasury shares — (172.2) (500.0) (4,250.0) Net proceeds from issuance of shares 31.5 35.3 92.0 109.7 Net proceeds from issuance of notes — 15.0 — 15.0 Repayment of debt and finance lease obligations (0.7) (0.5) (1.6) (0.7) Net cash provided by (used in) financing activities (565.0) (742.0) (2,264.7) (6,057.2) Net cash flows 169.9 (2,110.7) (2,019.7) (7,580.5) Effect of changes in exchange rates on cash (4.2) (6.3) (5.7) (28.9) Net increase (decrease) in cash and cash equivalents 165.7 (2,117.0) (2,025.4) (7,609.4) Cash and cash equivalents at beginning of the period 4,813.6 7,243.5 7,004.7 12,735.9 Cash and cash equivalents at end of the period 4,979.3 5,126.5 4,979.3 5,126.5 Three months ended Nine months ended Sep 29, Sep 28, Sep 29, Sep 28, (unaudited, in millions €) 2024 2025 2024 2025 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2025 5 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Summary US GAAP Consolidated Statements of Cash Flows
Three months ended Sep 29, Dec 31, Mar 30, Jun 29, Sep 28, (unaudited, in millions €, except per share data) 2024 2024 2025 2025 2025 Net system sales 5,926.0 7,115.9 5,740.4 5,596.1 5,553.8 Net service and field option sales 1,541.3 2,146.9 2,001.1 2,095.6 1,962.2 Total net sales 7,467.3 9,262.8 7,741.5 7,691.7 7,516.0 Total cost of sales (3,673.9) (4,473.0) (3,561.8) (3,562.2) (3,635.7) Gross profit 3,793.4 4,789.8 4,179.7 4,129.5 3,880.3 Research and development costs (1,055.2) (1,116.0) (1,161.1) (1,166.7) (1,108.7) Selling, general and administrative costs (297.0) (318.4) (280.7) (298.7) (303.2) Income from operations 2,441.2 3,355.4 2,737.9 2,664.1 2,468.4 Interest and other, net (0.8) 6.3 49.2 24.8 19.4 Income before income taxes 2,440.4 3,361.7 2,787.1 2,688.9 2,487.8 Benefit from (provision for) income taxes (441.2) (723.8) (465.1) (487.4) (442.2) Income after income taxes 1,999.2 2,637.9 2,322.0 2,201.5 2,045.6 Profit related to equity method investments 77.3 55.5 33.0 88.8 78.9 Net income 2,076.5 2,693.4 2,355.0 2,290.3 2,124.5 Basic net income per ordinary share 5.28 6.85 6.00 5.90 5.49 Diluted net income per ordinary share 5.28 6.84 6.00 5.90 5.48 Weighted average number of ordinary shares used in computing per share amounts (in millions): Basic 393.2 393.3 392.3 388.2 387.3 Diluted 393.6 393.6 392.5 388.4 387.6 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2025 6 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Quarterly Summary Consolidated Statements of Operations
Three months ended Sep 29, Dec 31, Mar 30, Jun 29, Sep 28, (unaudited, in millions €, except otherwise indicated) 2024 2024 2025 2025 2025 Gross profit as a percentage of net sales 50.8 % 51.7 % 54.0 % 53.7 % 51.6 % Income from operations as a percentage of net sales 32.7 % 36.2 % 35.4 % 34.6 % 32.8 % Net income as a percentage of net sales 27.8 % 29.1 % 30.4 % 29.8 % 28.3 % Income taxes as a percentage of income before income taxes 18.1 % 21.5 % 16.7 % 18.1 % 17.8 % Shareholders’ equity as a percentage of total assets 38.7 % 38.0 % 38.5 % 39.3 % 42.1 % Sales of lithography systems (in units) 1 116 132 77 76 72 Net bookings 2 2,633 7,088 3,936 5,541 5,399 Number of payroll employees (in FTEs) 42,372 42,786 43,129 43,193 43,461 Number of temporary employees (in FTEs) 1,417 1,241 998 870 789 1. Lithography systems do not include metrology and inspection systems. 2. Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted. Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2025 7 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Quarterly Summary US GAAP Ratios and Other Data
Sep 29, Dec 31, Mar 30, Jun 29, Sep 28, (unaudited, in millions €) 2024 2024 2025 2025 2025 Assets Cash and cash equivalents 4,979.3 12,735.9 9,098.4 7,243.5 5,126.5 Short-term investments 5.2 5.4 5.2 5.4 1.7 Accounts receivable, net 5,160.6 4,477.5 4,597.5 4,996.9 5,364.3 Finance receivables, net 640.7 82.6 381.7 531.1 666.2 Current tax assets 324.4 283.6 143.2 98.5 93.0 Contract assets 553.6 320.6 407.3 275.3 366.7 Inventories, net 11,414.5 10,891.5 11,024.7 11,575.8 11,762.8 Loans receivable — — 17.8 17.8 190.0 Other assets 1,785.7 1,940.3 1,848.6 1,966.2 1,575.1 Total current assets 24,864.0 30,737.4 27,524.4 26,710.5 25,146.3 Finance receivables, net 370.5 317.2 153.4 175.1 — Deferred tax assets 1,939.0 1,940.7 1,861.0 1,830.4 1,838.6 Loans receivable 928.6 1,456.6 1,443.4 1,444.9 1,686.0 Other assets 733.5 790.8 859.2 843.7 918.5 Equity method investments 1,083.4 903.0 938.9 1,029.2 1,109.3 Equity investments — — — — 1,226.9 Goodwill 4,588.6 4,588.6 4,588.6 4,588.6 4,588.6 Other intangible assets, net 652.9 621.3 591.6 565.7 555.7 Property, plant and equipment, net 6,211.9 6,846.8 7,152.9 7,296.0 7,681.2 Right-of-use assets 393.7 387.2 365.4 365.0 346.0 Total non-current assets 16,902.1 17,852.2 17,954.4 18,138.6 19,950.8 Total assets 41,766.1 48,589.6 45,478.8 44,849.1 45,097.1 Sep 29, Dec 31, Mar 30, Jun 29, Sep 28, (unaudited, in millions €) 2024 2024 2025 2025 2025 Liabilities and shareholders’ equity Current liabilities 16,025.8 20,051.4 18,123.9 18,616.0 19,224.9 Total current liabilities 16,025.8 20,051.4 18,123.9 18,616.0 19,224.9 Long-term debt 4,692.2 3,677.3 3,681.0 3,698.9 2,704.7 Deferred and other tax liabilities 346.9 299.2 335.9 294.8 187.2 Contract liabilities 4,103.9 5,625.4 5,400.6 4,187.1 3,572.3 Accrued and other liabilities 445.7 459.5 436.7 434.1 414.5 Total non-current liabilities 9,588.7 10,061.4 9,854.2 8,614.9 6,878.7 Total liabilities 25,614.5 30,112.8 27,978.1 27,230.9 26,103.6 Total shareholders’ equity 16,151.6 18,476.8 17,500.7 17,618.2 18,993.5 Total liabilities and shareholders’ equity 41,766.1 48,589.6 45,478.8 44,849.1 45,097.1 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2025 8 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Quarterly Summary US GAAP Consolidated Balance Sheets
Cash flows from operating activities Net income 2,076.5 2,693.4 2,355.0 2,290.3 2,124.5 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 235.7 241.0 241.3 254.9 274.6 Impairment and loss (gain) on disposal 6.8 11.1 2.1 16.5 3.1 Share-based compensation expense 53.3 53.0 40.0 49.0 57.7 Inventory reserves 154.8 167.7 59.6 99.7 138.6 Deferred tax expense (benefit) (114.6) (28.3) 79.1 38.1 (55.3) Equity method investments (81.0) 169.9 (34.9) (90.7) (80.8) Changes in assets and liabilities (1,381.6) 6,237.0 (2,800.8) (1,910.1) (1,903.3) Net cash provided by (used in) operating activities 949.9 9,544.8 (58.6) 747.7 559.1 Cash flows from investing activities Purchase of property, plant and equipment (414.9) (704.0) (415.0) (414.8) (295.9) Purchase of intangible assets (0.9) (1.5) (1.5) (14.1) (19.5) Purchase of short-term investments (3.8) (0.9) — — 3.5 Maturity of short-term investments 203.9 0.9 — — — Purchase of equity investment — — — — (1,210.0) Loans issued and repayment thereof 0.7 (527.4) 0.8 0.9 (405.9) Net cash provided by (used in) investing activities (215.0) (1,232.9) (415.7) (428.0) (1,927.8) Three months ended Sep 29, Dec 31, Mar 30, Jun 29, Sep 28, (unaudited, in millions €) 2024 2024 2025 2025 2025 Cash flows from financing activities Dividend paid (595.8) (597.8) (597.2) (714.4) (619.6) Purchase of treasury shares — — (2,592.6) (1,485.2) (172.2) Net proceeds from issuance of shares 31.5 32.0 38.0 36.4 35.3 Net proceeds from issuance of notes, net of issuance costs — 22.5 — — 15.0 Repayment of debt and finance lease obligations (0.7) (24.1) 0.4 (0.6) (0.5) Net cash provided by (used in) financing activities (565.0) (567.4) (3,151.4) (2,163.8) (742.0) Net cash flows 169.9 7,744.5 (3,625.7) (1,844.1) (2,110.7) Effect of changes in exchange rates on cash (4.2) 12.1 (11.8) (10.8) (6.3) Net increase (decrease) in cash and cash equivalents 165.7 7,756.6 (3,637.5) (1,854.9) (2,117.0) Cash and cash equivalents at beginning of the period 4,813.6 4,979.3 12,735.9 9,098.4 7,243.5 Cash and cash equivalents at end of the period 4,979.3 12,735.9 9,098.4 7,243.5 5,126.5 Three months ended Sep 29, Dec 31, Mar 30, Jun 29, Sep 28, (unaudited, in millions €) 2024 2024 2025 2025 2025 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2025 9 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Quarterly Summary US GAAP Consolidated Statements of Cash Flows
Basis of preparation The accompanying unaudited Summary Consolidated Financial Statements have been prepared in conformity with the accounting principles generally accepted in the United States of America ("US GAAP"). For further details on our annual disclosure requirements under US GAAP, including our significant accounting policies, these interim unaudited Summary Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes included within our 2024 Annual Report based on US GAAP, which is available on www.asml.com. Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2025 10 Notes to the Summary US GAAP Consolidated Financial Statements
This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in the semiconductor industry and end markets, expected trends in product mix and geography, and business environment trends, expected growth in the semiconductor industry by 2030, statements with respect to AI including goals for use of AI in our portfolio and the expected impact of AI demand on our business, industry and results, statements with respect to EUV adoption, our expectation that lithography will remain at the heart of customer innovation, expected increase in critical lithography exposures, statements with respect to our product portfolio, our expectation that customer fundamentals remain strong, expected reduction in level of business uncertainty, expected demand, shipments, bookings, outlook of market segments, outlook and expected financial results including outlook and expected results for Q4 2025, including net sales, Installed Base Management sales, gross margin, R&D costs, SG&A costs, outlook and expected financial results for full year 2025, including expected full year 2025 total net sales and growth, gross margin, and estimated annualized effective tax rate and expected IBM sales, expectation of a very strong fourth quarter, and expectations with respect to EUV and DUV sales in 2026, expectations with respect to total 2026 net sales, statements made at our 2024 Investor Day, including modelled revenue and gross margin opportunity for 2030, our expectation to continue to return significant amounts of cash to shareholders through growing dividends and share buybacks, expectations with respect to our 2022-2025 share buyback program and plan to announce a new share buyback program in January 2026, and statements with respect to dividends, statements with respect to expected performance and capabilities of our systems and customer plans, statements with respect to our ESG strategy and commitments and other non-historical statements. You can generally identify these statements by the use of words like “may”, “expect”, “will”, “could”, “should”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “continue”, “target”, “future”, “progress”, “goal”, “model”, “opportunity”, “commitment” and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions, plans and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, risks relating to customer demand, semiconductor equipment industry capacity, worldwide demand for semiconductors and semiconductor manufacturing capacity, lithography tool utilization and semiconductor inventory levels, general trends and consumer confidence in the semiconductor industry, the impact of general economic conditions, including the impact of the current macroeconomic and geopolitical environment on the semiconductor industry, semiconductor market conditions, the ultimate impact of AI on our industry and business and semiconductor demand, the impact of inflation, interest rates, wars and geopolitical developments, the impact of pandemics, the performance of our systems, the success of technology advances and the pace of new product development and customer acceptance of and demand for new technologies and products, our production capacity and ability to adjust capacity to meet demand, supply chain capacity, timely availability of parts and components, raw materials, critical manufacturing equipment and qualified employees, our ability to produce systems to meet demand, the number and timing of systems ordered, shipped and recognized in revenue, risks relating to fluctuations in net bookings and our ability to convert bookings into sales, the risk of order cancellation, delays or push outs and restrictions on shipments of systems, including ordered systems, under export controls, risks relating to the trade environment, import/export and national security regulations and orders and their impact on us, including the impact of recent and future changes in export regulations and the impact of such regulations on our ability to obtain necessary licenses and to sell our systems and provide services to certain customers, the impact of the tariff announcements, exchange rate fluctuations, changes in tax rates, available liquidity and free cash flow and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, the number of shares that we repurchase under our share repurchase program, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, our ability to meet ESG goals and commitments and execute our ESG strategy, other factors that may impact ASML’s business or financial results, and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2024 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law. Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2025 11 Forward Looking Statements