Adjusted free cash flow was $277 million, representing a margin over 16%, with a strong balance sheet holding $3.9 billion in cash and equivalents and $1.2 billion in debt.
Average selling price (ASP) per wafer declined high single-digit percentage year-over-year due to product mix, pricing adjustments, and reduced customer underutilization payments.
Cash flow from operations was $431 million; capital expenditures were $159 million (9% of revenue).
GlobalFoundries reported second quarter 2025 revenue of $1.688 billion, a 6% increase sequentially and 3% year-over-year.
Gross profit was $425 million, translating to a 25.2% gross margin, above the midpoint of guidance.
Net income was $234 million, up $23 million year-over-year, with diluted earnings per share of $0.42, exceeding the high end of guidance.
Operating expenses remained flat quarter-over-quarter at $167 million, with R&D at $125 million and SG&A at $42 million.
Operating profit was $258 million with a 15.3% operating margin, at the high end of guidance and 230 basis points above prior year.
The company shipped approximately 581,000 300-millimeter equivalent wafers, up 7% sequentially and 12% year-over-year.
Android revenue in ACG declined 18% year-over-year to approximately $240 million, with China-based Android revenue down 29% year-over-year to just under $100 million.
Net inventory balance was $638 million, a slight sequential reduction and $89 million lower year-over-year.
Non-GAAP gross margin increased approximately 300 basis points year-over-year in Q1.
Operating cash flow was approximately $183 million with CapEx of $38 million, resulting in free cash flow of $145 million.
Qorvo reported fiscal first quarter revenue of $819 million, non-GAAP gross margin of 44%, and non-GAAP diluted earnings of $0.92 per share, all favorable to guidance.
The largest customer represented approximately 41% of revenue during the quarter.
Capital expenditures were $0.2 million, in line with expectations.
Convertible notes outstanding are approximately $33 million, convertible at $1.60 per share, with the first payment due September 1, 2025.
MicroVision reported Q2 2025 revenues of $0.15 million, primarily driven by sales in the industrial verticals.
Raised approximately $35 million net from ATM during Q2, extending runway into 2027.
R&D and SG&A expenses for Q2 2025 were $14.1 million, including $3.4 million of noncash charges; cash expenses were $11 million, representing a 44% year-over-year reduction.
The company ended Q2 2025 with $91.4 million in cash and cash equivalents, plus $76.5 million available under the ATM facility and $30 million undrawn under the convertible note facility.
Dafinchi