Record Revenue Growth
Revenue increased by approximately 6% sequentially and 27% year-over-year to a record $1.43 billion, driven by growth in AI-related datacom transceiver, telecom, and industrial end markets.
Gross Margin Improvement
Q2 non-GAAP gross margin improved to 38.2%, marking a strong improvement of 146 basis points sequentially and 363 basis points year-over-year.
Strong Datacom and Telecom Growth
Data center and communications market revenue increased 6% sequentially and 58% year-over-year. Datacom revenue grew 4% sequentially and 79% year-over-year.
Debt Reduction
The company paid down $132 million in debt during the quarter using cash from operations, strengthening the balance sheet.
Excimer Lasers Demand
Display capital equipment grew due to demand for Excimer lasers in OLED screen manufacturing, driven by expanding OLED adoption.