Revenue falls 14% on weak royalties; LG Display deal extended through 2030

Filed April 30, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 1, 2025 · ~1 min read

Key Changes

• high

  Total revenue declined 14% to $142.2M as royalty/license fees fell 26% to $54.2M on unfavorable customer mix and lower unit volumes. Management expects customer mix to improve in later 2026 quarters.

  MD&A: Revenue verify on EDGAR →
• high

  Extended LG Display patent license and material supply agreements through at least 2030 (previously expiring end-2025). New structure replaces prepaid royalties with minimum annual fees plus volume-based incremental fees.

  MD&A: LG Display Agreement verify on EDGAR →
• high

  Net income fell 44% to $35.9M from $64.4M, driven by revenue decline and $6.6M swing in other income (from $378K gain to $6.2M loss on FX and equity portfolio losses).

  MD&A: Net Income verify on EDGAR →