Ultra Clean 10-Q: Q3 Revenue $759M, Plus $169.1M Post-Quarter ATM Sales
UCTT has more than doubled off its 52-week low of $21.485 on elevated volume (3.4× avg).
Summary
Ultra Clean's Q3 10-Q confirms $759.0 million revenue and $0.85 diluted EPS, and discloses $169.1 million of additional ATM share sales after quarter-end plus a $332.4 million inventory build that drove negative operating cash flow.
Key Events · Earnings and Guidance · UCTT
-
Q3 Revenue Up 48.8% to $759.0M
Revenue rose to $759.0 million from $510.0 million a year earlier, with Products at $681.9 million and Services at $77.1 million. Diluted EPS was $0.85 versus a $0.24 loss per share in the prior-year quarter.
-
Post-Quarter ATM Sales of $169.1M
From September 26 through October 28, 2026 the company sold 2.2 million additional shares under its ATM Program for net proceeds of $169.1 million, after selling 0.4 million shares for $34.0 million during Q3. About $193.2 million remains available under the $400 million program.
-
Inventory Build Drives Negative Cash Flow
Inventories climbed to $723.3 million from $390.9 million at December 26, 2025, a $332.4 million increase. Nine-month operating cash flow was negative $116.7 million versus positive $57.5 million a year earlier, and cash fell to $270.9 million from $311.8 million.
-
Revolver Repaid With ATM Proceeds
The company used part of the post-quarter ATM proceeds to repay the $50.0 million outstanding under its revolving credit facility, leaving no revolver balance as of October 28, 2026. Remaining debt is the $600.0 million of 0% convertible notes due 2031.
Analysis · UCTT · Manufacturing
The headline numbers were already out on October 27, but the full 10-Q carries two things the press release did not: $169.1 million of additional ATM stock sales between September 26 and October 28 (2.2 million shares), and a nine-month operating cash outflow of $116.7 million caused by a $332.4 million inventory build. Revenue of $759.0 million was up 48.8% year over year and gross margin improved to 16.9% from 16.1%, so the operating story is strong. The offset is that growth is being funded with working capital and equity: the ATM has now raised roughly $203 million net since August, and $193.2 million of the $400 million program remains available as an overhang. Cash fell to $270.9 million from $311.8 million at year-end despite the capital raised.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 31.1% of the 1661 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, UCTT was trading at $55.88 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $21.49 to $144.22. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.