KLACKLA Corporation

Technology · Optical Instruments · Nasdaq

KLA Corporation and its majority-owned subsidiaries (“KLA” or the “Company,” and also referred to as “we,” “our,” “us” or similar references) are suppliers of industry-leading equipment and services that enable innovation throughout the electronics industry. 10-K, Item 1

Headquarters: Milpitas, CA
CEO: Richard P. Wallace
Next results: around Jan 28, 2027

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What the 10-K filed 2026-08-06 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-08-08.

Big customers

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

“The following customer accounted for more than 10% of our total revenues, primarily in our Semiconductor Process Control segment, for the indicated periods:Year Ended June 30,”
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“In each of the fiscal years ended June 30, 2026 and 2025, one customer accounted for approximately 19% of total revenues.”
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“In the fiscal year ended June 30, 2024, one customer accounted for approximately 13% of total revenues.”
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Key suppliers

Parts or manufacturing that depend on one or a few suppliers.

“In this environment, orders from a relatively limited number of manufacturers have accounted for, and are expected to continue to account for, a substantial portion of our sales.”
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“Although we make reasonable efforts to ensure that parts are available from multiple suppliers, certain key parts are available only from a single supplier or a limited group of suppliers.”
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Lawsuits and legal claims

Pending cases, settlements and what the company has set aside for them.

“Actions filed against us include commercial, intellectual property (“IP”), customer, and labor and employment related claims, including complaints of alleged wrongful termination and potential class action lawsuits regarding alleged violations of federal and state wage and hour and other laws.”
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Guarantees and indemnities

Promises to pay someone else's debts or losses if they cannot.

“We maintain guarantee arrangements available through various financial institutions for up to $176.2 million, of which $142.5 million had been issued as of June 30, 2026, primarily to fund guarantees to customs authorities for value-added tax and other operating requirements of our consolidated subsidiaries worldwide.”
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Debt covenants

1 new

Conditions in loan agreements that, if broken, can make debt due early.

“As of June 30, 2026, we were in compliance with all of our covenants under the relevant indentures associated with the Senior Notes.”
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New “We were in compliance with all covenants under the Credit Agreement as of June 30, 2026 (the net leverage ratio was 0.53 to 1.00 compared to a maximum net leverage ratio of 3.25 to 1.00 on a quarterly basis covering the trailing four consecutive fiscal quarters for each fiscal quarter).”
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“Considering our current liquidity position, short-term financial forecasts and ability to prepay the Revolving Credit Facility, if necessary, we expect to continue to be in compliance with our financial covenants at the end of our fiscal year ending June 30, 2027.”
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“As of June 30, 2026, we were in compliance with all of our covenants under the Indenture associated with the Senior Notes.”
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“We were in compliance with all covenants under the Credit Agreement as of June 30, 2026.”
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Commitments off the balance sheet

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

“Our estimate of our significant purchase commitments primarily for material, services, supplies and asset purchases is $5.97 billion as of June 30, 2026, a majority of which will be due within the next 12 months.”
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“Our estimate of our significant purchase commitments primarily for material, services, supplies and asset purchases is approximately $5.97 billion as of June 30, 2026, a majority of which are due within the next 12 months.”
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Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

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