[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  LongYield [@LongYield](/creator/twitter/LongYield) on x 4470 followers Created: 2025-07-16 19:37:47 UTC $ASML ASML Holding N.V. Earnings Call Key Highlights: (1/2) 🧾 Q2 2025 Financial Performance Total net sales reached €7.7 billion, at the upper end of guidance, driven by one High NA system revenue and strong upgrade business. Net system sales were €5.6 billion, with €2.7 billion from EUV and €2.9 billion from non-EUV systems; Logic contributed 69%, and Memory 31%. Installed Base Management sales came in at €2.1 billion, above guidance, reflecting robust upgrade demand and growing service revenue. Gross margin was 53.7%, boosted by high upgrade activity and one-off cost benefits, partially offset by dilutive High NA revenue; net income was €2.3 billion, or €5.90 EPS. 💼 Bookings and Backlog Net system bookings in Q2 totaled €5.5 billion, with €2.3 billion in EUV and €3.2 billion in non-EUV; XX% of bookings were for Logic, XX% for Memory. Backlog ended at approximately €33 billion, including a €1.4 billion adjustment related to export restrictions impacting Chinese customers. The shift in backlog composition increasingly reflects broader geographic diversification and product mix alignment. 📦 China Market and DUV Trends Revenue from China expected to surpass XX% of total sales in 2025, up from slightly above XX% previously forecasted. Demand from China remains steady and is not seen as front-loaded or subject to sharp decline, supported by mainstream Logic and Memory growth. Strength in China driven in part by customer positioning ahead of potential future export restrictions, especially for Deep UV systems. 🚀 EUV Business and Capacity Expansion EUV system revenue expected to grow ~30% YoY in 2025, supported by rising adoption across Logic and Memory, particularly in DRAM. High adoption of NXE:3800E tools, with increased throughput at XXX wafers per hour, contributes to capacity gains with fewer system units. Increased EUV productivity enables customers to fulfill XX% capacity growth with a similar number of units as 2024, leading to improved ASPs and gross margins. Strong upgrade business due to field retrofits of NXE:3800E systems to final specification continues to support Installed Base Management. 🏗️ High NA EUV Progress and Outlook First EXE:5200B system shipped and being installed, targeting high-volume manufacturing insertion with XXX wafers/hour capability. High NA program progressing well, with Phase I (R&D validation) largely successful and Phase II (maturity for HVM) now beginning. ASP and margin potential for High NA remain high as it enables simplification of multi-patterning steps into single-exposure processes. Despite early phase, strong customer feedback and growing confidence suggest favorable adoption trajectory for nodes post-2026. 📉 Tariff and Geopolitical Uncertainty Elevated macroeconomic and geopolitical risks, especially related to U.S.-China tariffs, are creating customer uncertainty regarding investment timing. Tariff-related costs affect both imports to and exports from the U.S., with indirect GDP-related demand risks further clouding visibility. Customers remain cautious and are deferring or reevaluating CapEx decisions as they await clarity on trade policies and supply chain impacts. 📊 2025 and Q3 Outlook Full-year 2025 revenue expected to grow ~15% with gross margin around 52%; revenue expected to be second-half weighted. Q3 2025 guidance: sales between €7.4 billion and €7.9 billion, Installed Base Management sales at ~€2.0 billion, and gross margin of 50%-52%. Gross margin in H2 expected to be lower than H1 due to increased High NA system mix, reduced upgrade activity, and absence of one-time benefits. 🛠️ Installed Base and Shareholder Returns Strong service revenue growth driven by expanded EUV base; Installed Base Management revenue expected to grow over XX% YoY. €1.4 billion of share repurchases in Q2 brings total buyback to €5.8 billion under the 2022–2025 program. Total dividend for 2024 was €6.40 per share; first interim dividend for 2025 is €1.60, payable August X.  XXX engagements  **Related Topics** [quarterly earnings](/topic/quarterly-earnings) [$asmlas](/topic/$asmlas) [asml](/topic/asml) [$asml](/topic/$asml) [Post Link](https://x.com/LongYield/status/1945568564733182073)
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LongYield @LongYield on x 4470 followers
Created: 2025-07-16 19:37:47 UTC
$ASML ASML Holding N.V. Earnings Call Key Highlights: (1/2)
🧾 Q2 2025 Financial Performance
Total net sales reached €7.7 billion, at the upper end of guidance, driven by one High NA system revenue and strong upgrade business.
Net system sales were €5.6 billion, with €2.7 billion from EUV and €2.9 billion from non-EUV systems; Logic contributed 69%, and Memory 31%.
Installed Base Management sales came in at €2.1 billion, above guidance, reflecting robust upgrade demand and growing service revenue.
Gross margin was 53.7%, boosted by high upgrade activity and one-off cost benefits, partially offset by dilutive High NA revenue; net income was €2.3 billion, or €5.90 EPS.
💼 Bookings and Backlog
Net system bookings in Q2 totaled €5.5 billion, with €2.3 billion in EUV and €3.2 billion in non-EUV; XX% of bookings were for Logic, XX% for Memory.
Backlog ended at approximately €33 billion, including a €1.4 billion adjustment related to export restrictions impacting Chinese customers.
The shift in backlog composition increasingly reflects broader geographic diversification and product mix alignment.
📦 China Market and DUV Trends
Revenue from China expected to surpass XX% of total sales in 2025, up from slightly above XX% previously forecasted.
Demand from China remains steady and is not seen as front-loaded or subject to sharp decline, supported by mainstream Logic and Memory growth.
Strength in China driven in part by customer positioning ahead of potential future export restrictions, especially for Deep UV systems.
🚀 EUV Business and Capacity Expansion
EUV system revenue expected to grow ~30% YoY in 2025, supported by rising adoption across Logic and Memory, particularly in DRAM.
High adoption of NXE:3800E tools, with increased throughput at XXX wafers per hour, contributes to capacity gains with fewer system units.
Increased EUV productivity enables customers to fulfill XX% capacity growth with a similar number of units as 2024, leading to improved ASPs and gross margins.
Strong upgrade business due to field retrofits of NXE:3800E systems to final specification continues to support Installed Base Management.
🏗️ High NA EUV Progress and Outlook
First EXE:5200B system shipped and being installed, targeting high-volume manufacturing insertion with XXX wafers/hour capability.
High NA program progressing well, with Phase I (R&D validation) largely successful and Phase II (maturity for HVM) now beginning.
ASP and margin potential for High NA remain high as it enables simplification of multi-patterning steps into single-exposure processes.
Despite early phase, strong customer feedback and growing confidence suggest favorable adoption trajectory for nodes post-2026.
📉 Tariff and Geopolitical Uncertainty
Elevated macroeconomic and geopolitical risks, especially related to U.S.-China tariffs, are creating customer uncertainty regarding investment timing.
Tariff-related costs affect both imports to and exports from the U.S., with indirect GDP-related demand risks further clouding visibility.
Customers remain cautious and are deferring or reevaluating CapEx decisions as they await clarity on trade policies and supply chain impacts.
📊 2025 and Q3 Outlook
Full-year 2025 revenue expected to grow ~15% with gross margin around 52%; revenue expected to be second-half weighted.
Q3 2025 guidance: sales between €7.4 billion and €7.9 billion, Installed Base Management sales at ~€2.0 billion, and gross margin of 50%-52%.
Gross margin in H2 expected to be lower than H1 due to increased High NA system mix, reduced upgrade activity, and absence of one-time benefits.
🛠️ Installed Base and Shareholder Returns
Strong service revenue growth driven by expanded EUV base; Installed Base Management revenue expected to grow over XX% YoY.
€1.4 billion of share repurchases in Q2 brings total buyback to €5.8 billion under the 2022–2025 program.
Total dividend for 2024 was €6.40 per share; first interim dividend for 2025 is €1.60, payable August X.
XXX engagements
Related Topics quarterly earnings $asmlas asml $asml