Record Revenue Growth in Q4
Q4 revenue reached $233 million, exceeding expectations and marking a 10% sequential increase. Annual revenue for 2024 was $849 million, up 5% from 2023.
Strong Demand and Market Outlook
Customer demand strengthened in Q4, with significant growth anticipated in Etch and CVD applications, advanced logic, DRAM markets, and a recovery in NAND technology investments.
Proprietary Product Qualifications
Ichor successfully qualified high-purity valves with a second customer and is progressing with a third. Proprietary fittings and substrates have also been qualified by major customers.
Debt Reduction
Total debt reduced to $129 million at year-end, down from $250 million a year ago, with a net-debt coverage ratio decline to 1.6 times.