Micron Technology — Jun 25, 2025 release

“We are on track to deliver record revenue with solid profitability and free cash flow in fiscal 2025, while we make disciplined investments to build on our technology leadership and manufacturing excellence to satisfy growing AI-driven memory demand.” Quarterly Financial Results (in millions, except per share amounts) GAAP (1) Non-GAAP (2) FQ3-25 FQ2-25 FQ3-24 FQ3-25 FQ2-25 FQ3-24 Revenue $ 9,301  $ 8,053  $ 6,811  $ 9,301  $ 8,053  $ 6,811  Gross margin 3,508  2,963  1,832  3,623  3,053  1,917  percent of revenue 37.7  % 36.8  % 26.9  % 39.0  % 37.9  % 28.1  % Operating expenses 1,339  1,190  1,113  1,133  1,046  976  Operating income 2,169  1,773  719  2,490  2,007  941  percent of revenue 23.3  % 22.0  % 10.6  % 26.8  % 24.9  % 13.8  % Net income 1,885  1,583  332  2,181  1,783  702  Diluted earnings per share 1.68  1.41  0.30  1.91  1.56  0.62  For the third quarter of 2025, investments in capital expenditures, net (2) were $2.66 billion and adjusted free cash flow (2) was $1.95 billion. Micron ended the quarter with cash, marketable investments, and restricted cash of $12.22 billion. On June 25, 2025, Micron’s Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on July 22, 2025, to shareholders of record as of the close of business on July 7, 2025. 1 Business Outlook The following table presents Micron’s guidance for the fourth quarter of 2025: FQ4-25 GAAP (1) Outlook Non-GAAP (2) Outlook Revenue $10.7 billion ± $300 million $10.7 billion ± $300 million Gross margin 41.0% ± 1.0% 42.0% ± 1.0% Operating expenses $1.35 billion ± $20 million $1.20 billion ± $20 million Diluted earnings per share $2.29 ± $0.15 $2.50 ± $0.15 Further information regarding Micron’s business outlook is included in the prepared remarks and slides, which have been posted at investors.micron.com . Investor Webcast Micron will host a conference call on Wednesday, June 25, 2025 at 2:30 p.m. Mountain Time to discuss its third quarter financial results and provide forward-looking guidance for its fourth quarter. A live webcast of the call will be available online at investors.micron.com . A webcast replay will be available for one year after the call. For Investor Relations and other company updates, follow us on X @MicronTech. About Micron Technology, Inc. We are an industry leader in innovative memory and storage solutions transforming how the world u