TTM TECHNOLOGIES INC

For the period ended Oct 22, 2026. Filed Oct 22, 2026.

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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.

Oct 22, 2026 · Filed Oct 22, 2026

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TTMI$66.51+6.9%Stored close · as of Nov 6, 2026

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Contents

EX-99.1 · (In thousands, except per share data)

(In thousands, except per share data)

	Third Quarter		First Three Quarters
	2026	2025	2026	2025
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
Net sales	$1,203,855	$752,736	$3,053,885	$2,132,025
Cost of goods sold	911,991	596,000	2,368,982	1,696,208
Gross profit	291,864	156,736	684,903	435,817
Operating expenses:
Selling and marketing	25,142	21,796	75,626	64,383
General and administrative	87,554	48,598	218,406	142,091
Research and development	9,646	7,038	25,432	22,111
Amortization of definite-lived intangibles	6,889	6,889	20,666	20,666
Restructuring charges	380	509	1,016	2,631
Total operating expenses	129,611	84,830	341,146	251,882
Operating income	162,253	71,906	343,757	183,935
Interest expense	(12,809)	(10,399)	(33,905)	(32,958)
Loss on extinguishment of debt	—	—	(747)	—
Realized and unrealized losses on derivative instruments	(6,103)	—	(20,097)	—
Other, net	(1,640)	306	(7,535)	(2,648)
Income before income taxes	141,701	61,813	281,473	148,329
Income tax provision	(56,898)	(8,758)	(63,635)	(21,566)
Net income	$84,803	$53,055	$217,838	$126,763
Earnings per share:
Basic	$0.80	$0.51	$2.08	$1.24
Diluted	0.79	0.50	2.03	1.21
Weighted-average shares used in computing per share amounts:
Basic	105,665	103,321	104,596	102,337
Diluted	107,699	105,812	107,455	105,061
Reconciliation of the denominator used to calculate basic earnings per share and diluted earnings per share:
Weighted-average shares outstanding	105,665	103,321	104,596	102,337
Dilutive effect of performance-based stock units, restricted stock units and stock options	2,034	2,491	2,859	2,724
Diluted shares	107,699	105,812	107,455	105,061
SELECTED BALANCE SHEET DATA
September 28, 2026 · December 29, 2025
Cash and cash equivalents	$876,347	$501,234
Accounts receivable, net	836,362	563,741
Contract assets	793,552	468,006
Inventories	325,432	250,057
Total current assets	2,961,717	1,855,406
Property, plant and equipment, net	1,286,879	1,010,710
Total assets	5,562,920	3,840,331
Short-term debt, including current portion of long-term debt	$184,000	$3,815
Accounts payable	1,032,661	543,538
Contract liabilities	202,342	175,627
Total current liabilities	1,773,485	962,197
Long-term debt, net of discount and issuance costs	1,459,872	912,336
Total long-term liabilities	1,746,993	1,115,881
Total stockholders’ equity	2,042,442	1,762,253
Total liabilities and stockholders’ equity	5,562,920	3,840,331

SUPPLEMENTAL DATA
	Third Quarter		First Three Quarters
	2026	2025	2026	2025
Gross margin	24.2%	20.8%	22.4%	20.4%
Operating margin	13.5%	9.6%	11.3%	8.6%
	Third Quarter		First Three Quarters
	2026	2025	2026	2025
End market breakdown1:
Aerospace and Defense	34%	45%	37%	45%
Automotive	7%	11%	8%	11%
Data Center and Networking	41%	30%	39%	30%
Medical, Industrial, and Instrumentation	18%	14%	16%	14%
	Third Quarter		First Three Quarters
	2026	2025	2026	2025
Operating segment data1:
Net sales:
Aerospace & Defense	$416,540	$344,482	$1,150,954	$995,915
Commercial	787,882	408,920	1,904,530	1,137,249
Intersegment eliminations	(567)	(666)	(1,599)	(1,139)
Total net sales	$1,203,855	$752,736	$3,053,885	$2,132,025
Segment operating income:
Aerospace & Defense	77,041	56,010	195,681	146,524
Commercial	166,279	60,031	360,523	163,749
Total segment operating income	$243,320	$116,041	$556,204	$310,273
Unallocated amounts:
Restructuring	(380)	(509)	(1,016)	(2,631)
Acquisition-related and other charges	(13,564)	(15)	(18,510)	(15)
Stock-based compensation	(24,090)	(11,611)	(61,738)	(29,586)
Other corporate expenses	(33,809)	(22,775)	(103,511)	(66,433)
Amortization of definite-lived intangibles	(9,224)	(9,225)	(27,672)	(27,673)
Total operating income	$162,253	$71,906	$343,757	$183,935
	Third Quarter		First Three Quarters
	2026	2025	2026	2025
Non-GAAP gross profit reconciliation3:
GAAP gross profit	$291,864	$156,736	$684,903	$435,817
Add back item:
Amortization of definite-lived intangibles	2,335	2,336	7,006	7,007
Stock-based compensation	5,315	3,720	12,753	9,220
Unrealized (gain) loss on commodity hedge	(516)	(776)	2,763	(1,835)
Non-GAAP gross profit	$298,998	$162,016	$707,425	$450,209
Non-GAAP gross margin	24.8%	21.5%	23.2%	21.1%
Non-GAAP operating income reconciliation4:
GAAP operating income	$162,253	$71,906	$343,757	$183,935
Add back items:
Amortization of definite-lived intangibles	9,224	9,225	27,672	27,673
Stock-based compensation	24,090	11,611	61,738	29,586
Unrealized (gain) loss on commodity hedge	(516)	(776)	2,763	(1,835)
Restructuring, acquisition-related and other charges	13,945	581	19,527	2,818
Non-GAAP operating income	$208,996	$92,547	$455,457	$242,177
Non-GAAP operating margin	17.4%	12.3%	14.9%	11.4%
Non-GAAP net income and EPS reconciliation5:
GAAP net income	$84,803	$53,055	$217,838	$126,763
Add back items:
Amortization of definite-lived intangibles	9,224	9,225	27,672	27,673
Stock-based compensation	24,090	11,611	61,738	29,586
Non-cash interest expense	753	542	1,895	1,609
Loss on extinguishment of debt	—	—	747	—
Unrealized (gain) loss on commodity hedge	(516)	(776)	2,763	(1,835)
Unrealized (gain) loss on foreign exchange	4,738	502	3,529	8,466
Realized and unrealized losses on derivative instruments	6,103	—	20,097	—
Restructuring, acquisition-related and other charges	9,848	561	15,430	2,818
Income taxes6	18,732	(3,764)	(6,973)	(10,931)
Non-GAAP net income	$157,775	$70,956	$344,736	$184,149
Non-GAAP earnings per diluted share	$1.46	$0.67	$3.21	$1.75

	Third Quarter		First Three Quarters
	2026	2025	2026	2025
Adjusted EBITDA reconciliation7:
GAAP net income	$84,803	$53,055	$217,838	$126,763
Add back items:
Income tax (benefit) provision	56,898	8,758	63,635	21,566
Interest expense	12,809	10,399	33,905	32,958
Amortization of definite-lived intangibles	9,224	9,225	27,672	27,673
Depreciation expense	34,310	27,580	94,724	82,135
Stock-based compensation	24,090	11,611	61,738	29,586
Loss on extinguishment of debt	—	—	747	—
Unrealized (gain) loss on commodity hedge	(516)	(776)	2,763	(1,835)
Unrealized (gain) loss on foreign exchange	4,738	502	3,529	8,466
Realized and unrealized losses on derivative instruments	6,103	—	20,097	—
Restructuring, acquisition-related and other charges	9,848	561	15,311	2,818
Adjusted EBITDA	$242,307	$120,915	$541,959	$330,130
Adjusted EBITDA margin	20.1%	16.1%	17.7%	15.5%
Free cash flow reconciliation:
Operating cash flow	$154,711	$141,803	$272,883	$228,952
Capital expenditures, net	(79,921)	(99,233)	(237,138)	(222,687)
Free cash flow	$74,790	$42,570	$35,745	$6,265

Prior year end market revenue has been recasted due to merged Data Center Computing and Networking end markets. The operating segment data has been recasted also due to strategically realigning the RF and Specialty Components (RF&S Components) segment within the A&D segment during the quarter ended March 30, 2026.

2	This information provides a reconciliation of non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, non-GAAP EPS, and adjusted EBITDA to the most comparable GAAP metric in our consolidated condensed statements of operations.

3	Non-GAAP gross profit and gross margin measures exclude amortization of definite-lived intangibles, stock-based compensation, and unrealized (gain) loss on commodity hedge.

4	Non-GAAP operating income and operating margin measures exclude amortization of definite-lived intangibles, stock-based compensation, unrealized (gain) loss on commodity hedge, restructuring, acquisition-related, and other charges.

This information provides non-GAAP net income and non-GAAP EPS, which are non-GAAP financial measures. Management believes that both measures — which add back amortization of definite-lived intangibles, stock-based compensation, non-cash interest expense, loss on extinguishment of debt, unrealized (gain) loss on commodity hedge, unrealized (gain) loss on foreign exchange, realized and unrealized losses on derivative instruments, restructuring, acquisition-related, and other charges as well as the associated tax impact of these charges and discrete tax items — provide additional useful information to investors regarding the Company’s ongoing financial condition and results of operations.

6	Income tax adjustments reflect the difference between income taxes based on a non-GAAP tax rate and a forecasted annual GAAP tax rate.

Adjusted EBITDA is defined as earnings before income tax (benefit) provision, interest expense, amortization of definite-lived intangibles, depreciation expense, stock-based compensation, loss on extinguishment of debt, unrealized (gain) loss on commodity hedge, unrealized (gain) loss on foreign exchange, realized and unrealized losses on derivative instruments, restructuring, acquisition-related, and other charges. We present adjusted EBITDA to enhance the understanding of our operating results, and it is a key measure we use to evaluate our operations. In addition, we provide our adjusted EBITDA because we believe that investors and securities analysts will find adjusted EBITDA to be a useful measure for evaluating our operating performance and comparing our operating performance with that of similar companies that have different capital structures and for evaluating our ability to meet our future debt service, capital expenditures, and working capital requirements. However, adjusted EBITDA should not be considered as an alternative to cash flows from operating activities as a measure of liquidity or as an alternative to net income as a measure of operating results in accordance with accounting principles generally accepted in the United States of America.

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