Universal Display Corp \Pa\ 8-K, filed Oct 28, 2026

Universal Display Corp \Pa\ (OLED)

8-K 2026-10-28 For: 2026-10-28

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Added on October 29, 2026

About this 8-K

Universal Display Corp \Pa\ filed this 8-K on October 28, 2026.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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Pennsylvania	1-12031	23-2372688
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

250 Phillips Boulevard, Ewing, NJ		08618
(Address of Principal Executive Offices)		(Zip Code)


☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	OLED	The NASDAQ Stock Market LLC


	UNIVERSAL DISPLAY CORPORATION

Date: October 28, 2026	By:	/s/ Brian Millard
		Brian Millard
		Vice President, Chief Financial Officer and Treasurer


		Universal Display Contact:
		Darice Liu
		investor@oled.com
		media@oled.com
		+1 609-964-5123


($ in thousands)	Three Months Ended September 30,
	2026	2025
Material sales	$79,709	$82,634
Royalty and license fees	75,495	53,317
Contract research services	5,228	3,662
Total revenue	$160,432	$139,613


($ in thousands)	Nine Months Ended September 30,
	2026	2025
Material sales	$229,649	$257,439
Royalty and license fees	210,917	202,553
Contract research services	14,234	17,692
Total revenue	$454,800	$477,684


	September 30, 2026			December 31, 2025
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	93,447		$	138,353
Short-term investments		340,020			464,004
Accounts receivable		89,177			119,953
Inventory		236,867			240,912
Other current assets		140,765			123,836
Total current assets		900,276			1,087,058
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $212,381 and $189,326		206,949			214,947
ACQUIRED TECHNOLOGY, net of accumulated amortization of $234,033 and $220,392		93,142			56,783
OTHER INTANGIBLE ASSETS, net of accumulated amortization of $14,308 and $13,269		2,980			4,019
GOODWILL		15,535			15,535
INVESTMENTS		469,611			377,034
DEFERRED INCOME TAXES		76,414			79,454
OTHER ASSETS		113,504			128,932
TOTAL ASSETS	$	1,878,411		$	1,963,762
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	18,570		$	23,344
Accrued expenses		52,839			52,564
Deferred revenue		35,013			21,011
Other current liabilities		12,680			11,094
Total current liabilities		119,102			108,013
DEFERRED REVENUE		3,087			1,943
RETIREMENT PLAN BENEFIT LIABILITY		57,421			56,541
OTHER LIABILITIES		33,300			36,246
Total liabilities		212,910			202,743
SHAREHOLDERS’ EQUITY:
Preferred Stock, par value $0.01 per share, 5,000,000 shares authorized, 200,000 shares of Series A Nonconvertible Preferred Stock issued and outstanding (liquidation value of $7.50 per share or $1,500)		2			2
Common Stock, par value $0.01 per share, 200,000,000 shares authorized, 49,063,673 and 48,916,606 shares issued, and 45,279,598 and 47,259,748 shares outstanding, at September 30, 2026 and December 31, 2025, respectively		491			489
Additional paid-in capital		757,577			744,692
Retained earnings		1,184,481			1,090,479
Accumulated other comprehensive (loss) income		(6,969	)		781
Treasury stock, at cost (3,784,075 and 1,656,858 shares at September 30, 2026 and December 31, 2025)		(270,081	)		(75,424	)
Total shareholders’ equity		1,665,501			1,761,019
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,878,411		$	1,963,762


	Press Release


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
REVENUE:
Material sales	$	79,709		$	82,634		$	229,649		$	257,439
Royalty and license fees		75,495			53,317			210,917			202,553
Contract research services		5,228			3,662			14,234			17,692
Total revenue		160,432			139,613			454,800			477,684
COST OF SALES		43,077			35,491			115,988			112,828
Gross margin		117,355			104,122			338,812			364,856
OPERATING EXPENSES:
Research and development		36,347			36,336			106,567			107,594
Selling, general and administrative		20,892			18,039			59,489			55,493
Amortization of acquired technology and other intangible assets		3,372			4,553			14,679			13,646
Patent costs		2,795			1,886			7,520			6,380
Royalty and license expense		244			170			453			401
Total operating expenses		63,650			60,984			188,708			183,514
OPERATING INCOME		53,705			43,138			150,104			181,342
Interest income, net		8,196			10,046			25,388			29,883
Other income, net		37,268			952			29,974			6,905
Interest and other income, net		45,464			10,998			55,362			36,788
INCOME BEFORE INCOME TAXES		99,169			54,136			205,466			218,130
INCOME TAX EXPENSE		(20,223	)		(10,111	)		(41,203	)		(42,397	)
NET INCOME	$	78,946		$	44,025		$	164,263		$	175,733
NET INCOME PER COMMON SHARE:
BASIC	$	1.73		$	0.93		$	3.53		$	3.69
DILUTED	$	1.72		$	0.92		$	3.52		$	3.68
WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE:
BASIC		45,750,957			47,554,970			46,539,543			47,571,930
DILUTED		45,787,266			47,676,500			46,605,686			47,681,477
CASH DIVIDENDS DECLARED PER COMMON SHARE	$	0.50		$	0.45		$	1.50		$	1.35


	Nine Months Ended September 30,
	2026			2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	164,263		$	175,733
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		23,228			20,932
Amortization of intangibles		14,679			13,646
Investment gains, net		(26,360	)		(6,630	)
Impairment of minority investments		415			—
Stock-based compensation		18,857			22,888
Deferred income tax expense		5,488			977
Retirement plan expense, net of benefit payments		898			1,271
Decrease (increase) in assets:
Accounts receivable		30,776			39,434
Inventory		4,045			(29,683	)
Other current assets		(26,929	)		(36,928	)
Other assets		15,428			(12,364	)
Increase (decrease) in liabilities:
Accounts payable and accrued expenses		(1,931	)		304
Other current liabilities		(920	)		(2,406	)
Deferred revenue		15,146			(8,763	)
Other liabilities		(3,025	)		1,270
Net cash provided by operating activities		234,058			179,681
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment		(17,507	)		(40,383	)
Purchase of intangibles		(40,000	)		—
Purchases of investments		(307,336	)		(319,593	)
Proceeds from sale and maturity of investments		354,483			275,000
Net cash used in investing activities		(10,360	)		(84,976	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock		1,515			1,617
Repurchases of common stock, inclusive of excise tax		(192,960	)		—
Payment of withholding taxes related to stock-based compensation to employees		(7,786	)		(9,470	)
Cash dividends paid		(69,373	)		(64,223	)
Net cash used in financing activities		(268,604	)		(72,076	)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS		(44,906	)		22,629
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		138,353			98,980
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	93,447		$	121,609
SUPPLEMENTAL DISCLOSURES:


	Three Months Ended September 30,					Nine Months Ended September 30,
	2026			2025		2026			2025
Net income reconciliation
Net income	$	78,946		$	44,025	$	164,263		$	175,733
Net income per share:
Basic	$	1.73		$	0.93	$	3.53		$	3.69
Diluted	$	1.72		$	0.92	$	3.52		$	3.68
Net income adjustments:
UDC Ventures investment gain		(28,914	)		—		(28,914	)		—
Income tax expense (1)		6,141			—		6,141			—
Non-GAAP adjusted net income	$	56,173		$	44,025	$	141,490		$	175,733

Non-GAAP adjusted net income per share:
Basic	$	1.23		$	0.93	$	3.04		$	3.69
Diluted	$	1.23		$	0.92	$	3.04		$	3.68
Weighted average shares used in computing net income per share and non-GAAP adjusted net income per share:
Basic		45,750,957			47,554,970		46,539,543			47,571,930
Diluted		45,787,266			47,676,500		46,605,686			47,681,477

(1) The Company’s non-GAAP tax provision uses a projected tax rate of 21.2% for the three and nine months ended September 30, 2026, which currently reflects available information and could be subject to change.