EX-99.1 EARNINGS RELEASE Document Exhibit 99.1 FOR IMMEDIATE RELEASE Contacts: Satya Kumar Mark Plungy Investor Relations Media Relations satyakumar@micron.com mplungy@micron.com (408) 450-6199 (408) 203-2910 MICRON TECHNOLOGY, INC. REPORTS RESULTS FOR THE FOURTH QUARTER AND FULL YEAR OF FISCAL 2025 Record fiscal Q4 and full-year revenue driven by AI data center growth Forecasting $1.2 billion in sequential revenue growth with gross margins exceeding 50% BOISE, Idaho, September 23, 2025 – Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2025, which ended August 28, 2025. Fiscal Q4 2025 highlights • Revenue of $11.32 billion versus $9.30 billion for the prior quarter and $7.75 billion for the same period last year • GAAP net income of $3.20 billion, or $2.83 per diluted share • Non-GAAP net income of $3.47 billion, or $3.03 per diluted share • Operating cash flow of $5.73 billion versus $4.61 billion for the prior quarter and $3.41 billion for the same period last year Fiscal 2025 highlights • Revenue of $37.38 billion versus $25.11 billion for the prior year • GAAP net income of $8.54 billion, or $7.59 per diluted share • Non-GAAP net income of $9.47 billion, or $8.29 per diluted share • Operating cash flow of $17.53 billion versus $8.51 billion for the prior year “Micron closed out a record-breaking fiscal year with exceptional Q4 performance, underscoring our leadership in technology, products, and operational execution,” said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology. “In fiscal 2025, we achieved all-time highs across our data center business and are entering fiscal 2026 with strong momentum and our most competitive portfolio to date. As the only U.S.-based memory manufacturer, Micron is uniquely positioned to capitalize on the AI opportunity ahead.” Quarterly Financial Results (in millions, except per share amounts) GAAP (1) Non-GAAP (2) FQ4-25 FQ3-25 FQ4-24 FQ4-25 FQ3-25 FQ4-24 Revenue $ 11,315 $ 9,301 $ 7,750 $ 11,315 $ 9,301 $ 7,750 Gross margin 5,054 3,508 2,737 5,169 3,623 2,826 percent of revenue 44.7 % 37.7 % 35.3 % 45.7 % 39.0 % 36.5 % Operating expenses 1,400 1,339 1,215 1,214 1,133 1,081 Operating income 3,654 2,169 1,522 3,955 2,490 1,745 percent of revenue 32.3 % 23.3 % 19.6 % 35.0 % 26.8 % 22.5 % Net income 3,201 1,885 887 3,469 2,181 1,342 Diluted earnings per share 2.83 1.68 0.79 3.03 1.91 1.18 1 Annual Financial Results (in millions, except per share amounts) GAAP (1) Non-GAAP (2) FY-25 FY-24 FY-25 FY-24 Revenue $ 37,378 $ 25,111 $ 37,378 $ 25,111 Gross margin 14,873 5,613 15,286 5,943 percent of revenue 39.8 % 22.4 % 40.9 % 23.7 % Operating expenses 5,103 4,309 4,440 4,008 Operating income 9,770 1,304 10,846 1,935 percent of revenue 26.1 % 5.2 % 29.0 % 7.7 % Net income 8,539 778 9,470 1,472 Diluted earnings per share 7.59 0.70 8.29 1.30 Investments in capital expenditures, net (2) were $4.93 billion for the fourth quarter of 2025 and $13.80 billion for the full year of 2025. Adjusted free cash flow (2) was $803 million for the fourth quarter of 2025 and $3.72 billion for the full year of 2025. Micron ended the year with cash, marketable investments, and restricted cash of $11.94 billion. On September 23, 2025, Micron’s Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on October 21, 2025, to shareholders of record as of the close of business on October 3, 2025. Quarterly Business Unit Financial Results FQ4-25 FQ3-25 FQ4-24 Cloud Memory Business Unit Revenue $ 4,543 $ 3,386 $ 1,449 Gross margin 59 % 58 % 49 % Operating margin 48 % 46 % 33 % Core Data Center Business Unit Revenue $ 1,577 $ 1,530 $ 2,048 Gross margin 41 % 38 % 41 % Operating margin 25 % 20 % 27 % Mobile and Client Business Unit Revenue $ 3,760 $ 3,255 $ 3,019 Gross margin 36 % 24 % 32 % Operating margin 29 % 15 % 20 % Automotive and Embedded Business Unit Revenue $ 1,434 $ 1,127 $ 1,230 Gross margin 31 % 26 % 24 % Operating margin 20 % 11 % 11 % 2 Business Outlook The following table presents Micron’s guidance for the first quarter of 2026: FQ1-26 GAAP (1) Outlook Non-GAAP (2) Outlook Revenue $12.50 billion ± $300 million $12.50 billion ± $300 million Gross margin 50.5% ± 1.0% 51.5% ± 1.0% Operating expenses $1.49 billion ± $20 million $1.34 billion ± $20 million Diluted earnings per share $3.56 ± $0.15 $3.75 ± $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 Tuesday, September 23, 2025 at 2:30 p.m. Mountain Time to discuss its fourth quarter financial results and provide forward-looking guidance for its first 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. We encourage you to visit our website at micron.com throughout the quarter for the most current information on the company, including information on financial conferences that we may be attending. You can also follow us on LinkedIn, X (@MicronTech) and YouTube (@MicronTechnology). About Micron Technology, Inc. We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all . With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com . © 2025 Micron Technology, Inc. All rights reserved. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners. Forward-Looking Statements This press release contains forward-looking statements regarding our industry, our strategic position, and our financial and operating results, including our guidance for the first quarter and full year fiscal 2026. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. Please refer to the documents we file with the Securities and Exchange Commission, including our most recent Form 10-K and Form 10-Q. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at investors.micron.com/risk-factor . Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. We are under no duty to update any of the forward-looking statements to conform these statements to actual results. (1) GAAP represents U.S. Generally Accepted Accounting Principles. (2) Non-GAAP represents GAAP excluding the impact of certain activities, which management excludes in analyzing our operating results and understanding trends in our earnings; adjusted free cash flow; investments in capital expenditures, net; and business outlook. Further information regarding Micron’s use of non-GAAP measures and reconciliations between GAAP and non-GAAP measures are included within this press release. 3 MICRON TECHNOLOGY, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share amounts) (Unaudited) 4th Qtr. 3rd Qtr. 4th Qtr. Year Ended August 28, 2025 May 29, 2025 August 29, 2024 August 28, 2025 August 29, 2024 Revenue $ 11,315 $ 9,301 $ 7,750 $ 37,378 $ 25,111 Cost of goods sold 6,261 5,793 5,013 22,505 19,498 Gross margin 5,054 3,508 2,737 14,873 5,613 Research and development 1,047 965 903 3,798 3,430 Selling, general, and administrative 314 318 295 1,205 1,129 Restructure and asset impairments 38 1 1 39 1 Other operating (income) expense, net 1 55 16 61 (251) Operating income 3,654 2,169 1,522 9,770 1,304 Interest income 146 135 131 496 529 Interest expense (124) (123) (136) (477) (562) Other non-operating income (expense), net (45) (68) (7) (135) (31) 3,631 2,113 1,510 9,654 1,240 Income tax (provision) benefit (429) (235) (623) (1,124) (451) Equity in net income (loss) of equity method investees (1) 7 — 9 (11) Net income $ 3,201 $ 1,885 $ 887 $ 8,539 $ 778 Earnings per share Basic $ 2.86 $ 1.69 $ 0.80 $ 7.65 $ 0.70 Diluted 2.83 1.68 0.79 7.59 0.70 Number of shares used in per share calculations Basic 1,120 1,118 1,108 1,116 1,105 Diluted 1,131 1,125 1,125 1,125 1,118 4 MICRON TECHNOLOGY, INC. CONSOLIDATED BALANCE SHEETS (In millions) (Unaudited) As of August 28, 2025 May 29, 2025 August 29, 2024 Assets Cash and equivalents $ 9,642 $ 10,163 $ 7,041 Short-term investments 665 648 1,065 Receivables 9,265 7,436 6,615 Inventories 8,355 8,727 8,875 Other current assets 914 945 776 Total current assets 28,841 27,919 24,372 Long-term marketable investments 1,629 1,402 1,046 Property, plant, and equipment 46,590 44,773 39,749 Operating lease right-of-use assets 736 628 645 Intangible assets 453 426 416 Deferred tax assets 616 483 520 Goodwill 1,150 1,150 1,150 Other noncurrent assets 2,783 1,616 1,518 Total assets $ 82,798 $ 78,397 $ 69,416 Liabilities and equity Accounts payable and accrued expenses $ 9,649 $ 8,761 $ 7,299 Current debt 560 538 431 Other current liabilities 1,245 836 1,518 Total current liabilities 11,454 10,135 9,248 Long-term debt 14,017 15,003 12,966 Noncurrent operating lease liabilities 701 600 610 Noncurrent unearned government incentives 1,018 603 550 Other noncurrent liabilities 1,443 1,308 911 Total liabilities 28,633 27,649 24,285 Commitments and contingencies Shareholders’ equity Common stock 127 126 125 Additional capital 13,339 12,960 12,115 Retained earnings 48,583 45,559 40,877 Treasury stock (7,852) (7,852) (7,852) Accumulated other comprehensive income (loss) (32) (45) (134) Total equity 54,165 50,748 45,131 Total liabilities and equity $ 82,798 $ 78,397 $ 69,416 5 MICRON TECHNOLOGY, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) For the year ended August 28, 2025 August 29, 2024 Cash flows from operating activities Net income $ 8,539 $ 778 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense and amortization of intangible assets 8,352 7,780 Stock-based compensation 972 833 Change in operating assets and liabilities: Receivables (1,776) (3,581) Inventories 520 (488) Accounts payable and accrued expenses 862 1,915 Other current liabilities (272) 989 Other 328 281 Net cash provided by operating activities 17,525 8,507 Cash flows from investing activities Expenditures for property, plant, and equipment (15,857) (8,386) Purchases of available-for-sale securities (1,890) (1,999) Proceeds from government incentives 2,005 315 Proceeds from maturities and sales of available-for-sale securities 1,698 1,794 Other (43) (33) Net cash used for investing activities (14,087) (8,309) Cash flows from financing activities Repayments of debt (4,619) (1,897) Payments of dividends to shareholders (522) (513) Repurchases of common stock - repurchase program — (300) Payments on equipment purchase contracts — (149) Proceeds from issuance of debt 4,430 999 Other (139) 18 Net cash used for financing activities (850) (1,842) Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash 6 40 Net increase (decrease) in cash, cash equivalents, and restricted cash 2,594 (1,604) Cash, cash equivalents, and restricted cash at beginning of period 7,052 8,656 Cash, cash equivalents, and restricted cash at end of period $ 9,646 $ 7,052 6 MICRON TECHNOLOGY, INC. RECONCILIATION OF GAAP TO NON-GAAP MEASURES (In millions, except per share amounts) 4th Qtr. 3rd Qtr. 4th Qtr. Year Ended August 28, 2025 May 29, 2025 August 29, 2024 August 28, 2025 August 29, 2024 GAAP gross margin $ 5,054 $ 3,508 $ 2,737 $ 14,873 $ 5,613 Stock-based compensation 115 115 85 409 312 Other — — 4 4 18 Non-GAAP gross margin $ 5,169 $ 3,623 $ 2,826 $ 15,286 $ 5,943 GAAP operating expenses $ 1,400 $ 1,339 $ 1,215 $ 5,103 $ 4,309 Stock-based compensation (147) (148) (128) (566) (509) Restructure and asset impairments (38) (1) (1) (39) (1) Patent license charges — (57) — (57) — Patent cross-license agreement gain — — — — 200 Other (1) — (5) (1) 9 Non-GAAP operating expenses $ 1,214 $ 1,133 $ 1,081 $ 4,440 $ 4,008 GAAP operating income $ 3,654 $ 2,169 $ 1,522 $ 9,770 $ 1,304 Stock-based compensation 262 263 213 975 821 Restructure and asset impairments 38 1 1 39 1 Patent license charges — 57 — 57 — Patent cross-license agreement gain — — — — (200) Other 1 — 9 5 9 Non-GAAP operating income $ 3,955 $ 2,490 $ 1,745 $ 10,846 $ 1,935 GAAP net income $ 3,201 $ 1,885 $ 887 $ 8,539 $ 778 Stock-based compensation 262 263 213 975 821 Restructure and asset impairments 38 1 1 39 1 Loss on debt prepayments 9 46 — 59 1 Patent license charges — 57 — 57 — Patent cross-license agreement gain — — — — (200) Other 1 — 5 1 (1) Estimated tax effects of above and other tax adjustments (42) (71) 236 (200) 72 Non-GAAP net income $ 3,469 $ 2,181 $ 1,342 $ 9,470 $ 1,472 GAAP weighted-average common shares outstanding - Diluted 1,131 1,125 1,125 1,125 1,118 Adjustment for stock-based compensation 14 19 12 18 16 Non-GAAP weighted-average common shares outstanding - Diluted 1,145 1,144 1,137 1,143 1,134 GAAP diluted earnings per share $ 2.83 $ 1.68 $ 0.79 $ 7.59 $ 0.70 Effects of the above adjustments 0.20 0.23 0.39 0.70 0.60 Non-GAAP diluted earnings per share $ 3.03 $ 1.91 $ 1.18 $ 8.29 $ 1.30 7 RECONCILIATION OF GAAP TO NON-GAAP MEASURES, Continued 4th Qtr. 3rd Qtr. 4th Qtr. Year Ended August 28, 2025 May 29, 2025 August 29, 2024 August 28, 2025 August 29, 2024 GAAP net cash provided by operating activities $ 5,730 $ 4,609 $ 3,405 $ 17,525 $ 8,507 Expenditures for property, plant, and equipment (5,658) (2,938) (3,120) (15,857) (8,386) Payments on equipment purchase contracts — — (22) — (149) Proceeds from sales of property, plant, and equipment 20 12 12 48 99 Proceeds from government incentives 711 266 48 2,005 315 Investments in capital expenditures, net (4,927) (2,660) (3,082) (13,804) (8,121) Adjusted free cash flow $ 803 $ 1,949 $ 323 $ 3,721 $ 386 The tables above reconcile GAAP to non-GAAP measures of gross margin, operating expenses, operating income, net income, diluted shares, diluted earnings per share, and adjusted free cash flow. The non-GAAP adjustments above may or may not be infrequent or nonrecurring in nature, but are a result of periodic or non-core operating activities. We believe this non-GAAP information is helpful in understanding trends and in analyzing our operating results and earnings. We are providing this information to investors to assist in performing analysis of our operating results. When evaluating performance and making decisions on how to allocate our resources, management uses this non-GAAP information and believes investors should have access to similar data when making their investment decisions. We believe these non-GAAP financial measures increase transparency by providing investors with useful supplemental information about the financial performance of our business, enabling enhanced comparison of our operating results between periods and with peer companies. The presentation of these adjusted amounts varies from amounts presented in accordance with U.S. GAAP and therefore may not be comparable to amounts reported by other companies. Our management excludes the following items as applicable in analyzing our operating results and understanding trends in our earnings: • Stock-based compensation; • Gains and losses from settlements; • Gains and losses from debt prepayments; • Restructure and asset impairments; and • The estimated tax effects of above, non-cash changes in net deferred income taxes, assessments of tax exposures, certain tax matters related to prior fiscal periods, and significant changes in tax law. The divergence between our GAAP and non-GAAP income tax (provision) benefit relates to the difference in our GAAP and non-GAAP estimated annual effective tax rates, which are computed separately. Non-GAAP diluted shares are adjusted for the impact of additional shares resulting from the exclusion of stock-based compensation from non-GAAP income. 8 MICRON TECHNOLOGY, INC. RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK FQ1-26 GAAP Outlook Adjustments Non-GAAP Outlook Revenue $12.50 billion ± $300 million — $12.50 billion ± $300 million Gross margin 50.5% ± 1.0% 1.0% A 51.5% ± 1.0% Operating expenses $1.49 billion ± $20 million $148 million B $1.34 billion ± $20 million Diluted earnings per share (1) $3.56 ± $0.15 $0.19 A, B, C $3.75 ± $0.15 Non-GAAP Adjustments (in millions) A Stock-based compensation – cost of goods sold $ 111 B Stock-based compensation – research and development 98 B Stock-based compensation – sales, general, and administrative 50 C Tax effects of the above items and other tax adjustments (39) $ 220 (1) GAAP earnings per share based on approximately 1.13 billion diluted shares and non-GAAP earnings per share based on approximately 1.15 billion diluted shares. The tables above reconcile our GAAP to non-GAAP guidance based on the current outlook. The guidance does not incorporate the impact of any potential business combinations, divestitures, additional restructuring activities, balance sheet valuation adjustments, strategic investments, financing transactions, and other significant transactions. The timing and impact of such items are dependent on future events that may be uncertain or outside of our control. 9

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.