$OLED
UNIVERSAL DISPLAY CORP \PA\

2024 Q3 Form 10-Q Financial Statement

#000095017024089283 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $161.6M $158.5M
YoY Change 14.57% 8.15%
Cost Of Revenue $35.81M $38.33M
YoY Change 4.57% 18.63%
Gross Profit $125.8M $120.2M
YoY Change 17.77% 5.18%
Gross Profit Margin 77.84% 75.82%
Selling, General & Admin $15.66M $19.84M
YoY Change -13.38% 2.77%
% of Gross Profit 12.45% 16.51%
Research & Development $36.09M $36.83M
YoY Change 9.03% 13.95%
% of Gross Profit 28.68% 30.64%
Depreciation & Amortization $6.400M $6.500M
YoY Change -7.25% -39.28%
% of Gross Profit 5.09% 5.41%
Operating Expenses $58.81M $63.74M
YoY Change 0.71% 14.6%
Operating Profit $67.01M $56.44M
YoY Change 38.34% -3.76%
Interest Expense $10.59M $9.913M
YoY Change 49.18% 59.94%
% of Operating Profit 15.81% 17.56%
Other Income/Expense, Net $14.41M $8.453M
YoY Change 164.76% -1178.19%
Pretax Income $81.42M $64.89M
YoY Change 51.11% 1.31%
Income Tax $14.50M $12.60M
% Of Pretax Income 17.81% 19.42%
Net Earnings $66.87M $52.34M
YoY Change 29.8% 5.89%
Net Earnings / Revenue 41.37% 33.02%
Basic Earnings Per Share $1.40 $1.10
Diluted Earnings Per Share $1.40 $1.10
COMMON SHARES
Basic Shares Outstanding 47.45M 47.44M
Diluted Shares Outstanding 47.67M 47.63M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $551.6M $530.5M
YoY Change 12.17% -5.12%
Cash & Equivalents $79.56M $92.86M
Short-Term Investments $472.0M $437.7M
Other Short-Term Assets $126.6M $132.7M
YoY Change 51.77% 293.24%
Inventory $176.0M $171.8M
Prepaid Expenses
Receivables $87.69M $124.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $941.8M $959.5M
YoY Change 7.18% 9.26%
LONG-TERM ASSETS
Property, Plant & Equipment $191.2M $185.5M
YoY Change 9.48% -0.84%
Goodwill $15.54M $15.54M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $396.9M $362.5M
YoY Change 31.78% 71.49%
Other Assets $109.7M $98.85M
YoY Change 8.12% -30.85%
Total Long-Term Assets $869.0M $817.1M
YoY Change 16.77% 23.29%
TOTAL ASSETS
Total Short-Term Assets $941.8M $959.5M
Total Long-Term Assets $869.0M $817.1M
Total Assets $1.811B $1.777B
YoY Change 11.58% 15.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.70M $23.64M
YoY Change 19.75% 222.46%
Accrued Expenses $52.96M $58.62M
YoY Change 37.55% 50.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $131.2M $152.0M
YoY Change -0.14% 88.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $36.30M $37.12M
YoY Change -7.35% -69.41%
Total Long-Term Liabilities $36.30M $37.12M
YoY Change -7.35% -69.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $131.2M $152.0M
Total Long-Term Liabilities $36.30M $37.12M
Total Liabilities $224.1M $249.7M
YoY Change -6.83% 23.57%
SHAREHOLDERS EQUITY
Retained Earnings $907.8M $860.1M
YoY Change 21.98% 21.24%
Common Stock $488.0K $488.0K
YoY Change 0.21% 0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $41.28M $41.28M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $1.587B $1.527B
YoY Change
Total Liabilities & Shareholders Equity $1.811B $1.777B
YoY Change 11.58% 15.3%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $66.87M $52.34M
YoY Change 29.8% 5.89%
Depreciation, Depletion And Amortization $6.400M $6.500M
YoY Change -7.25% -39.28%
Cash From Operating Activities $79.86M $67.01M
YoY Change 32.43% 585.41%
INVESTING ACTIVITIES
Capital Expenditures $13.63M $9.128M
YoY Change -46.56% -89.16%
Acquisitions
YoY Change
Other Investing Activities -$60.04M -$20.16M
YoY Change 84.75% -177.43%
Cash From Investing Activities -$73.67M -$29.29M
YoY Change 27.24% -49.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.49M -18.88M
YoY Change 18.09% 14.79%
NET CHANGE
Cash From Operating Activities 79.86M 67.01M
Cash From Investing Activities -73.67M -29.29M
Cash From Financing Activities -19.49M -18.88M
Net Change In Cash -13.30M 18.84M
YoY Change -5.7% -129.07%
FREE CASH FLOW
Cash From Operating Activities $79.86M $67.01M
Capital Expenditures $13.63M $9.128M
Free Cash Flow $66.23M $57.89M
YoY Change 90.32% -177.79%

Facts In Submission

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64053000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
135387000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
115685000
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12553000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
26197000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
26168000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
52337000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
49678000
us-gaap Net Income Loss
NetIncomeLoss
109190000
us-gaap Net Income Loss
NetIncomeLoss
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EarningsPerShareBasic
1.1
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.29
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.87
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.1
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.29
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.87
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47549843
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47572971
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47553969
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47548404
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47628113
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47618115
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47628470
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.4
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.35
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.8
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.7
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
52337000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
49678000
us-gaap Net Income Loss
NetIncomeLoss
109190000
us-gaap Net Income Loss
NetIncomeLoss
89517000
CY2024Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0
CY2023Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
296000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-438000
CY2024Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-310000
CY2023Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1568000
CY2024Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
246000
CY2023Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
0
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
246000
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
0
CY2024Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-761000
CY2023Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
0
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-761000
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
0
CY2024Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-75000
CY2023Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-71000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-77000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-142000
CY2024Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
248000
CY2023Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
253000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
256000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
506000
CY2024Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-43000
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-29000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-93000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
66000
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-866000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-835000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3574000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2140000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
51471000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
48843000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
105616000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
91657000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
1484900000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
52337000
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-866000
CY2024Q2 us-gaap Dividends Cash
DividendsCash
19158000
CY2024Q2 oled Stock Based Compensation And Espp Activity Net Of Taxes Withheld
StockBasedCompensationAndEsppActivityNetOfTaxesWithheld
9625000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
1526838000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
1447226000
us-gaap Net Income Loss
NetIncomeLoss
109190000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3574000
us-gaap Dividends Cash
DividendsCash
38685000
oled Stock Based Compensation And Espp Activity Net Of Taxes Withheld
StockBasedCompensationAndEsppActivityNetOfTaxesWithheld
12681000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
1526838000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
1299465000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
49678000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-835000
CY2023Q2 us-gaap Dividends Cash
DividendsCash
16653000
CY2023Q2 oled Stock Based Compensation And Espp Activity Net Of Taxes Withheld
StockBasedCompensationAndEsppActivityNetOfTaxesWithheld
7111000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
1338766000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
1275369000
us-gaap Net Income Loss
NetIncomeLoss
89517000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2140000
us-gaap Dividends Cash
DividendsCash
33422000
oled Stock Based Compensation And Espp Activity Net Of Taxes Withheld
StockBasedCompensationAndEsppActivityNetOfTaxesWithheld
5162000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
1338766000
us-gaap Net Income Loss
NetIncomeLoss
109190000
us-gaap Net Income Loss
NetIncomeLoss
89517000
us-gaap Depreciation
Depreciation
13092000
us-gaap Depreciation
Depreciation
13207000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9097000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6885000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-4276000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-6845000
us-gaap Share Based Compensation
ShareBasedCompensation
18523000
us-gaap Share Based Compensation
ShareBasedCompensation
11320000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-7402000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-12782000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
962000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
1397000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-15464000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
16726000
us-gaap Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
-3952000
us-gaap Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
-7365000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
45364000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-12038000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-6444000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-7665000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
12367000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-17651000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-2141000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-20811000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
10797000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-15736000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1536000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1445000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
139169000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
57398000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16334000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
27274000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
66063000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
174757000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
115048000
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
97620000
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
190907000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-93471000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-17478000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1187000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
971000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7329000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7429000
us-gaap Payments Of Dividends
PaymentsOfDividends
38685000
us-gaap Payments Of Dividends
PaymentsOfDividends
33422000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-44827000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-39880000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
871000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
40000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
91985000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93430000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
92856000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93470000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-2976000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
1848000
oled Other Significant Non Cash Transaction Increase Decrease In Accounts Payable And Accrued Expenses Related To Purchases Of Property And Equipment
OtherSignificantNonCashTransactionIncreaseDecreaseInAccountsPayableAndAccruedExpensesRelatedToPurchasesOfPropertyAndEquipment
-7082000
oled Other Significant Non Cash Transaction Increase Decrease In Accounts Payable And Accrued Expenses Related To Purchases Of Property And Equipment
OtherSignificantNonCashTransactionIncreaseDecreaseInAccountsPayableAndAccruedExpensesRelatedToPurchasesOfPropertyAndEquipment
-54000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
47263000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
59849000
us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:-4.749%;padding-left:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1. BUSINESS:</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Universal Display Corporation and its subsidiaries (the Company) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. OLEDs are thin, lightweight and power-efficient solid-state devices that emit light and can be manufactured on both flexible and rigid substrates, making them highly suitable for use in full-color displays and as lighting products. OLED displays are capturing a growing share of the display market, especially in the mobile phone, television, monitor, wearable, tablet, notebook and personal computer, augmented reality (AR), virtual reality (VR) and automotive markets. The Company believes this is because OLEDs offer potential advantages over competing display technologies with respect to power efficiency, contrast ratio, viewing angle, video response time, form factor and manufacturing cost. The Company also believes that OLED lighting products have the potential to replace many existing light sources in the future because of their high-power efficiency, excellent color rendering index, low operating temperature and novel form factor. The Company’s technology leadership, intellectual property position, and more than 20 years of experience working closely with leading OLED display manufacturers are some of the competitive advantages that should enable the Company to continue to share in the revenues from OLED displays and lighting products as they gain wider acceptance.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company’s primary business strategy is to (1) develop new OLED materials and sell existing and new materials to product manufacturers of products for display applications, such as mobile phones, televisions, monitors, wearables, tablets, portable media devices, notebook computers, personal computers and automotive applications, and specialty and general lighting products; and (2) further develop and either license or otherwise commercialize the Company’s proprietary OLED material, device design and manufacturing technologies to those manufacturers. The Company has established a significant portfolio of proprietary OLED technologies and materials, primarily through internal research and development efforts and acquisitions of patents and patent applications, as well as maintaining long-standing, and establishing new relationships with world-class universities, research institutions and strategic manufacturing partnerships. The Company currently owns, exclusively licenses or has the sole right to sublicense more than </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">6,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> patents issued and pending worldwide.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company manufactures and sells its proprietary OLED materials to customers for evaluation and use in commercial OLED products. The Company also enters into agreements with manufacturers of OLED display and lighting products under which it grants them licenses to practice under the Company’s patents and to use the Company's proprietary know-how. At the same time, the Company works with these and other companies that are evaluating the Company's OLED material, device design and manufacturing technologies for possible use in commercial OLED display and lighting products.</span></p>
CY2024Q2 oled Number Of Patents Issued And Pending Application
NumberOfPatentsIssuedAndPendingApplication
6000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassification of Prior Year Presentation</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain prior year adjustments to reconcile net income to net cash provided by operating activities have been reclassified on the Consolidated Statements of Cash Flows to conform to the current year presentation. Stock-based compensation activity has been consolidated and includes stock-based compensation to employees, Board of Directors, and Scientific Advisory Board.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain prior year adjustments have been reclassified on the Consolidated Statements of Shareholders' Equity to conform to the current year presentation. Stock-based compensation and ESPP activity, net of taxes withheld has been consolidated and includes issuance of common stock to employees, shares withheld for employee taxes, issuance of common stock to Board of Directors and Scientific Advisory Board, cancellation of restricted stock units and issuance of common stock to employees under an ESPP.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Management’s Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The estimates made are principally in the areas of revenue recognition including estimates of material unit sales and royalties, the useful life of acquired intangibles, lease liabilities, right-of-use assets, the use and recoverability of inventories, intangibles, investments and income taxes including realization of deferred tax assets, stock-based compensation and retirement benefit plan liabilities. Actual results could differ from those estimates.</span></p>
us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
Recognized income tax positions are measured at the largest amount of which the likelihood of realization is greater than 50%
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
92856000
CY2024Q2 oled Cash Equivalents Gross Unrealized Gain
CashEquivalentsGrossUnrealizedGain
0
CY2024Q2 oled Cash Equivalents Gross Unrealized Losses
CashEquivalentsGrossUnrealizedLosses
0
CY2024Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
92856000
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CY2024Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
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CY2024Q2 us-gaap Revenues
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CY2023Q2 us-gaap Revenues
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oled Number Of Suppliers From Which Chemical Materials Were Purchased
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CY2024Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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CY2023Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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CY2023Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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CY2023Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q2 us-gaap Earnings Per Share Basic
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CY2023Q2 us-gaap Earnings Per Share Basic
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CY2024Q2 us-gaap Earnings Per Share Diluted
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CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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31578

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