Technology

Lam Research Corporation Reports Financial Results for the Quarter Ended September 29, 2024

Published

3 months ago

October 23, 2024

FREMONT, Calif., Oct. 23, 2024 /PRNewswire/ — Lam Research Corporation (the “Company,” “Lam,” “Lam Research”) today announced financial results for the quarter ended September 29, 2024 (the “September 2024 quarter”).

On May 21, 2024, the Company announced a ten-for-one stock split which was effective October 2, 2024. All references made to share or per share amounts in this press release have been adjusted to reflect the stock split, unless otherwise indicated.

Highlights for the September 2024 quarter were as follows:

Revenue of $4.17 billion.U.S. GAAP gross margin of 48.0%, U.S. GAAP operating income as a percentage of revenue of 30.3%, and U.S. GAAP diluted EPS of $0.86.Non-GAAP gross margin of 48.2%, non-GAAP operating income as a percentage of revenue of 30.9%, and non-GAAP diluted EPS of $0.86.

Key Financial Data for the Quarters Ended

September 29, 2024 and June 30, 2024

(in thousands, except per-share data, percentages, and basis points)

U.S. GAAP

September 2024

June 2024

Change Q/Q

Revenue

$ 4,167,976

$ 3,871,507

+ 8 %

Gross margin as percentage of revenue

48.0 %

47.5 %

+ 50 bps

Operating income as percentage of revenue

30.3 %

29.1 %

+ 120 bps

Diluted EPS pre-split

$ 8.56

$ 7.78

+ 10 %

Diluted EPS post-split

$ 0.86

$ 0.78

+ 10 %

Non-GAAP

September 2024

June 2024

Change Q/Q

Revenue

$ 4,167,976

$ 3,871,507

+ 8 %

Gross margin as percentage of revenue

48.2 %

48.5 %

– 30 bps

Operating income as percentage of revenue

30.9 %

30.7 %

+ 20 bps

Diluted EPS pre-split

$ 8.60

$ 8.14

+ 6 %

Diluted EPS post-split

$ 0.86

$ 0.81

+ 6 %

U.S. GAAP Financial Results

For the September 2024 quarter, revenue was $4,168 million, gross margin was $2,003 million, or 48.0% of revenue, operating expenses were $738 million, operating income was 30.3% of revenue, and net income was $1,116 million, or $0.86 per diluted share on a U.S. GAAP basis. This compares to revenue of $3,872 million, gross margin of $1,840 million, or 47.5% of revenue, operating expenses of $714 million, operating income of 29.1% of revenue, and net income of $1,020 million, or $0.78 per diluted share, for the quarter ended June 30, 2024 (the “June 2024 quarter”).

Non-GAAP Financial Results

For the September 2024 quarter, non-GAAP gross margin was $2,009 million, or 48.2% of revenue, non-GAAP operating expenses were $722 million, non-GAAP operating income was 30.9% of revenue, and non-GAAP net income was $1,122 million, or $0.86 per diluted share. This compares to non-GAAP gross margin of $1,876 million, or 48.5% of revenue, non-GAAP operating expenses of $689 million, non-GAAP operating income of 30.7% of revenue, and non-GAAP net income of $1,067 million, or $0.81 per diluted share, for the June 2024 quarter.

“With continued strong execution, Lam delivered financial performance ahead of expectations,” said Tim Archer, Lam Research’s President and Chief Executive Officer. “Looking forward, etch and deposition are fundamental to enabling the next generation of semiconductors. Our investments in key technology inflections position us well to outperform WFE growth in 2025 and beyond.”

Balance Sheet and Cash Flow Results

Cash, cash equivalents, and restricted cash balances increased to $6.1 billion at the end of the September 2024 quarter compared to $5.9 billion at the end of the June 2024 quarter. The increase was primarily the result of cash generated from operating activities, partially offset by cash deployed for capital return activities and capital expenditures during the quarter.

Deferred revenue at the end of the September 2024 quarter increased to $2,047 million compared to $1,552 million as of the end of the June 2024 quarter. Lam’s deferred revenue balance does not include shipments to customers in Japan, to whom control does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $184 million as of September 29, 2024 and $98 million as of June 30, 2024.

Revenue

The geographic distribution of revenue during the September 2024 quarter is shown in the following table:

Region

Revenue

China

37 %

Korea

18 %

Taiwan

15 %

United States

12 %

Japan

7 %

Southeast Asia

6 %

Europe

5 %

The following table presents revenue disaggregated between system and customer support-related revenue:

Three Months Ended

September 29,
2024

June 30,
2024

September 24,
2023

(In thousands)

Systems revenue

$ 2,392,730

$ 2,169,885

$ 2,056,655

Customer support-related revenue and other

1,775,246

1,701,622

1,425,407

$ 4,167,976

$ 3,871,507

$ 3,482,062

Systems revenue includes sales of new leading-edge equipment in deposition, etch and clean markets.

Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.

Outlook

For the quarter ended December 29, 2024, Lam is providing the following guidance:

U.S. GAAP

Reconciling Items

Non-GAAP

Revenue

$4.30 Billion

+/-

$300 Million

—

$4.30 Billion

+/-

$300 Million

Gross margin as a percentage of revenue

46.9 %

+/-

1 %

$ 2.8

Million

47.0 %

+/-

1 %

Operating income as a percentage of revenue

29.9 %

+/-

1 %

$ 3.4

Million

30.0 %

+/-

1 %

Net income per diluted share

$0.87

+/-

$0.10

$ 3.9

Million

$0.87

+/-

$0.10

Diluted share count

1.29 Billion

—

1.29 Billion

The information provided above is only an estimate of what the Company believes is realizable as of the date of this release and does not incorporate the potential impact of any business combinations, asset acquisitions, divestitures, restructuring, balance sheet valuation adjustments, financing arrangements, other investments, or other significant arrangements that may be completed or realized after the date of this release, except as described below. U.S. GAAP to non-GAAP reconciling items provided include only those items that are known and can be estimated as of the date of this release. Actual results will vary from this model and the variations may be material. Reconciling items included above are as follows:

Gross margin as a percentage of revenue – amortization related to intangible assets acquired through business combinations, $2.8 million.

Operating income as a percentage of revenue – amortization related to intangible assets acquired through business combinations, $3.4 million.

Net income per diluted share – amortization related to intangible assets acquired though business combinations, $3.4 million; amortization of debt discounts, $0.8 million; and associated tax benefit for non-GAAP items ($0.3 million); totaling $3.9 million.

Use of Non-GAAP Financial Results

In addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company’s non-GAAP results for both the September 2024 and June 2024 quarters exclude amortization related to intangible assets acquired through business combinations, the effects of elective deferred compensation-related assets and liabilities, amortization of note discounts, and the net income tax effect of non-GAAP items. The June 2024 non-GAAP results also exclude net restructuring charges, and transformational costs.

Management uses non-GAAP gross margin, operating expense, operating income, operating income as a percentage of revenue, net income, and net income per diluted share to evaluate the Company’s operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors’ ability to view the Company’s results from management’s perspective. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release and on the Company’s website at https://investor.lamresearch.com.

Caution Regarding Forward-Looking Statements

Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our outlook and guidance for future financial results, including revenue, gross margin, operating income and net income; our operational execution; the technologies that will enable the next generation of semiconductors; the extent of our investments in product development and the relevance of those investments to key technology inflections; our competitive positioning; wafer fabrication equipment (“WFE”) spending growth; and our positioning and prospects for performance relative to WFE growth. Some factors that may affect these forward-looking statements include: trade regulations, export controls, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; business, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; supply chain cost increases and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 30, 2024. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam’s equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)

Consolidated Financial Tables Follow.

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data and percentages)

(unaudited)

Three Months Ended

September 29,
2024

June 30,
2024

September 24,
2023

Revenue

$ 4,167,976

$ 3,871,507

$ 3,482,062

Cost of goods sold

2,165,293

2,026,133

1,819,420

Restructuring charges, net – cost of goods sold

—

5,276

7,940

Total cost of goods sold

2,165,293

2,031,409

1,827,360

Gross margin

2,002,683

1,840,098

1,654,702

Gross margin as a percent of revenue

48.0 %

47.5 %

Research and development

495,358

497,829

422,629

Selling, general and administrative

243,128

216,477

207,023

Restructuring charges, net – operating expenses

—

(768)

2,021

Total operating expenses

738,486

713,538

631,673

Operating income

1,264,197

1,126,560

1,023,029

Operating income as a percent of revenue

30.3 %

29.1 %

29.4 %

Other income (expense), net

30,081

27,796

2,601

Income before income taxes

1,294,278

1,154,356

1,025,630

Income tax expense

(177,834)

(134,074)

(138,232)

Net income

$ 1,116,444

$ 1,020,282

$ 887,398

Pre-split:

Net income per share:

Basic

$ 8.59

$ 7.81

$ 6.69

Diluted

$ 8.56

$ 7.78

$ 6.66

Number of shares used in per share calculations:

Basic

129,924

130,633

132,584

Diluted

130,407

131,112

133,166

Cash dividend declared per common share

$ 2.30

$ 2.00

Post-split:

Net income per share:

Basic

$ 0.86

$ 0.78

$ 0.67

Diluted

$ 0.86

$ 0.78

$ 0.67

Number of shares used in per share calculations:

Basic

1,299,236

1,306,333

1,325,840

Diluted

1,304,066

1,311,118

1,331,664

Cash dividend declared per common share

$ 0.23

$ 0.20

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

September 29,
2024

June 30,
2024

September 24,
2023

(unaudited)

(1)

(unaudited)

ASSETS

Cash and cash equivalents

$ 6,067,471

$ 5,847,856

$ 5,126,150

Accounts receivable, net

2,937,217

2,519,250

2,810,953

Inventories

4,209,878

4,217,924

4,747,781

Prepaid expenses and other current assets

277,802

298,190

308,678

Total current assets

13,492,368

12,883,220

12,993,562

Property and equipment, net

2,214,269

2,154,518

2,110,511

Goodwill and intangible assets

1,758,344

1,765,073

1,784,000

Other assets

2,067,508

1,941,917

1,650,384

Total assets

$ 19,532,489

$ 18,744,728

$ 18,538,457

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current portion of long-term debt and finance lease obligations

$ 504,682

$ 504,814

$ 3,861

Other current liabilities

4,837,986

3,833,624

4,243,316

Total current liabilities

5,342,668

4,338,438

4,247,177

Long-term debt and finance lease obligations

4,479,087

4,478,520

4,980,460

Income taxes payable

664,717

813,304

780,511

Other long-term liabilities

574,126

575,012

482,979

Total liabilities

11,060,598

10,205,274

10,491,127

Stockholders’ equity (2)

8,471,891

8,539,454

8,047,330

Total liabilities and stockholders’ equity

$ 19,532,489

$ 18,744,728

$ 18,538,457

(1)

Derived from audited financial statements.

(2)

Common shares issued and outstanding were 1,291,958 as of September 29, 2024, 1,303,769 as of June 30, 2024, and 1,320,721 as of September 24, 2023.

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

Three Months Ended

September 29,
2024

June 30,
2024

September 24,
2023

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$ 1,116,444

$ 1,020,282

$ 887,398

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

94,295

88,357

90,479

Deferred income taxes

(108,722)

(61,375)

(24,238)

Equity-based compensation expense

80,011

79,092

67,211

Other, net

(457)

(3,999)

(150)

Changes in operating assets and liabilities

386,900

(259,927)

(69,537)

Net cash provided by operating activities

1,568,471

862,430

951,163

CASH FLOWS FROM INVESTING ACTIVITIES:

Capital expenditures and intangible assets

(110,588)

(100,748)

(76,992)

Net maturities and sales of available-for-sale securities

—

7,275

Other, net

(865)

(4,966)

Net cash used for investing activities

(110,551)

(101,613)

(74,683)

CASH FLOWS FROM FINANCING ACTIVITIES:

Principal payments on debt, including finance lease obligations

(934)

(949)

(253,109)

Treasury stock purchases

(997,035)

(373,550)

(843,238)

Dividends paid

(260,985)

(261,462)

(230,332)

Reissuance of treasury stock related to employee stock purchase plan

—

66,885

—

Proceeds from issuance of common stock, net issuance costs

(43)

2,796

2,818

Other, net

(324)

(7,871)

(2,151)

Net cash used for financing activities

(1,259,321)

(574,151)

(1,326,012)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

22,682

(9,616)

(11,031)

Net change in cash, cash equivalents, and restricted cash

221,281

177,050

(460,563)

Cash, cash equivalents, and restricted cash at beginning of period (1)

5,850,803

5,673,753

5,587,372

Cash, cash equivalents, and restricted cash at end of period (1)

$ 6,072,084

$ 5,850,803

$ 5,126,809

(1)

Restricted cash is reported within Other assets in the Condensed Consolidated Balance Sheets

Non-GAAP Financial Summary

(in thousands, except percentages and per share data)

(unaudited)

Three Months Ended

September 29,
2024

June 30,
2024

Revenue

$ 4,167,976

$ 3,871,507

Gross margin

$ 2,009,022

$ 1,876,345

Gross margin as percentage of revenue

48.2 %

48.5 %

Operating expenses

$ 722,148

$ 689,133

Operating income

$ 1,286,874

$ 1,187,212

Operating income as a percentage of revenue

30.9 %

30.7 %

Net income

$ 1,121,507

$ 1,066,890

Pre-split:

Net income per diluted share

$ 8.60

$ 8.14

Shares used in per share calculation – diluted

130,407

131,112

Post-split:

Net income per diluted share

$ 0.86

$ 0.81

Shares used in per share calculation – diluted

1,304,066

1,311,118

Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income

(in thousands, except per share data)

(unaudited)

Three Months Ended

September 29,
2024

June 30,
2024

U.S. GAAP net income

$ 1,116,444

$ 1,020,282

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations – cost of goods sold

3,076

Elective deferred compensation (“EDC”) related liability valuation increase – cost of goods sold

3,263

2,488

Restructuring charges, net – cost of goods sold

—

5,276

Transformational costs – cost of goods sold

—

25,407

EDC related liability valuation increase – research and development

8,136

4,479

Transformational costs – Research and development

—

8,469

Amortization related to intangible assets acquired through certain business combinations – selling, general and administrative

692

770

EDC related liability valuation increase – selling, general and administrative

7,510

2,986

Transformational costs – selling, general and administrative

—

8,469

Restructuring charges, net – operating expenses

—

(768)

Amortization of note discounts – other income (expense), net

765

759

Gain on EDC related asset – other income (expense), net

(17,420)

(9,643)

Net income tax benefit on non-GAAP items

(959)

(5,160)

Non-GAAP net income

$ 1,121,507

$ 1,066,890

Pre-split

Non-GAAP net income per diluted share

$ 8.60

$ 8.14

U.S. GAAP net income per diluted share

$ 8.56

$ 7.78

U.S. GAAP and non-GAAP number of shares used for per diluted share calculation

130,407

131,112

Post-split

Non-GAAP net income per diluted share

$ 0.86

$ 0.81

U.S. GAAP net income per diluted share

$ 0.86

$ 0.78

U.S. GAAP and non-GAAP number of shares used for per diluted share calculation

1,304,066

1,311,118

Reconciliation of U.S. GAAP Gross Margin, Operating Expenses and Operating Income to Non-GAAP Gross Margin, Operating Expenses and Operating Income

(in thousands, except percentages)

(unaudited)

Three Months Ended

September 29,
2024

June 30,
2024

U.S. GAAP gross margin

$ 2,002,683

$ 1,840,098

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

3,076

EDC related liability valuation increase

3,263

2,488

Restructuring charges, net

—

5,276

Transformational costs

—

25,407

Non-GAAP gross margin

$ 2,009,022

$ 1,876,345

U.S. GAAP gross margin as a percentage of revenue

48.0 %

47.5 %

Non-GAAP gross margin as a percentage of revenue

48.2 %

48.5 %

U.S. GAAP operating expenses

$ 738,486

$ 713,538

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

(692)

(770)

EDC related liability valuation increase

(15,646)

(7,465)

Restructuring charges, net

—

768

Transformational costs

—

(16,938)

Non-GAAP operating expenses

$ 722,148

$ 689,133

U.S. GAAP operating income

$ 1,264,197

$ 1,126,560

Non-GAAP operating income

$ 1,286,874

$ 1,187,212

U.S. GAAP operating income as percent of revenue

30.3 %

29.1 %

Non-GAAP operating income as a percent of revenue

30.9 %

30.7 %

Lam Research Corporation Contacts:
Ram Ganesh, Investor Relations, phone: 510-572-1615, e-mail: investor.relations@lamresearch.com

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SOURCE Lam Research Corporation

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Equipboard Unveils Sleek Redesign to Enhance Music Gear Discovery for Musicians Worldwide

Published

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January 11, 2025

Redesign Introduces Modern Features, Streamlined Navigation, and Richer Content to Inspire and Support Music Makers Globally

AUSTIN, Texas, Jan. 11, 2025 /PRNewswire-PRWeb/ — Equipboard, the leading online community for musicians and gear enthusiasts, announces the launch of its newly redesigned website. With a modern look, streamlined navigation, and powerful new features, the redesign sets a new standard for connecting artists, producers, and hobbyists with the tools they need to create music.

Since its inception in 2013, Equipboard has grown into the world’s largest database of music gear used by professionals and amateurs alike. The redesign reflects the platform’s commitment to fostering creativity, offering transparent information, and making gear discovery and purchasing easier and more enjoyable for its global user base.

What’s New?

Equipboard’s redesign is more than just a fresh coat of paint. It introduces a host of improvements aimed at elevating the way users explore, share, and connect over their favorite gear:

Modernized Design: A sleek, responsive layout ensures a seamless experience across all devices, with improved readability and accessibility. Enhanced Navigation: Faster, more intuitive browsing helps users discover gear, artists, and inspiration effortlessly. Whether searching for a guitarist’s pedalboard or a producer’s go-to synth, the information is now at their fingertips. Richer Content: Equipboard now features in-depth guides, expert-curated collections, and a revamped artist gear section to inspire and inform users at all levels of their musical journey. Personalized Experience: Registered users can now enjoy a more tailored interface, saving their favorite gear and creating wishlists for their next creative adventure. Price Comparisons Across Leading Retailers: Equipboard helps musicians make informed decisions by comparing prices on music gear from top retailers, ensuring they get the best value for their investment. Community-Focused Features: New tools make it easier for users to contribute to Equipboard’s ever-growing database, ensuring the platform remains the most trusted source for music gear information.

“Equipboard has always been about empowering musicians by connecting them with the tools and insights they need,” said Michael Pierce, Co-Founder. “This redesign reflects our commitment to innovation and community, creating an experience that’s as inspiring as the gear our users discover. From in-depth artist insights to real-time price comparisons, we’re excited to see how these improvements help musicians worldwide make better gear choices and create amazing music.”

About Equipboard

Equipboard is the ultimate online resource for musicians and gear enthusiasts. With a mission to provide transparent, community-driven information about the gear used by artists and professionals, Equipboard has become a trusted destination for millions of music creators. The platform also simplifies the buying process with its innovative price comparison tool, helping users find the best deals from leading retailers. From electric guitars to studio monitors, Equipboard’s extensive database helps users make informed decisions about their music-making journey.

The redesigned Equipboard is now live at https://equipboard.com, offering a fresh look and enhanced tools to support music creators in exploring the gear behind their favorite artists’ sound.

Media Contact

Michael Pierce, Equipboard, 888-888-8888, contact@equipboard.com, https://equipboard.com/

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SOURCE Equipboard

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CES 2025: The Global Stage for Innovation, Connecting the World, Creating the Future

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Where Technology Meets Humanity to Create Extraordinary Possibilities

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“CES is where innovation comes to life,” said Gary Shapiro, CEO and Vice Chair, Consumer Technology Association (CTA)®, owner and producer of CES. “From the largest companies to trailblazing startups, the entire tech ecosystem is at the show. CES is the stage for groundbreaking product launches, transformative partnerships, and serendipitous business moments that define the future of technology.”

CES 2025 by the Numbers*

4500+ exhibitors, including 1400 startups141,000+ attendees, of which 40% were international from over 150 countries, regions, and territories6000+ global media, content creators, and industry analystsOver 60% of Fortune 500 companies300+ conference sessions with 1200+ speakers27,000+ news stories and content

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Catch all the highlights and announcements from CES 2025 – including all conference programming—via CES YouTube and the CES Tech Talk Podcast. Watch the CES 2025 State of the Industry Address here.

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Digital Health – This year, CES 2025 saw tremendous energy at the Venetian where attendees witnessed the category’s seamless alignment with the smart living experience. CES has cemented itself as a premier convenor for the healthcare industry, bringing together trailblazers to explore biotechnology, telehealth, and wellness advancements that enhance patient care and longevity. Attendees celebrated the vibrant and dynamic environment that underscored how technology is transforming everyday life, particularly in health and wellness.
Exhibitors & Sponsors included: AARP, Abbott, Eyebot, FlowBeams, Lumia Health, OnMed, Panasonic, ResMed, Withings

Energy Transition – With the growth of high-power demand technologies like AI, cloud, and other data center innovations, the energy transition to zero carbon sources was a significant focus at CES 2025. Experimental energy solutions including battery and energy storage technologies, emerging energy sources like green hydrogen, and small modular nuclear reactors were highlights on the show floor.
Exhibitors included: Eaton, Jackery, Otrera, SK, Sony Honda Mobility

Mobility – Mobility innovation spanned construction, agriculture, marine tech, and advanced air travel. At CES 2025, self-driving and electric technologies enhanced planes and boats, and EV market growth brought new models from global OEMs to the show. Automation in construction and industry enhanced safety and addressed workforce gaps in labor-intensive roles.
Exhibitors included: Aptera Motors, BMW, Bosch, Brunswick, Caterpillar, Daedong, Garmin, Honda, Invo Station, John Deere, Kubota, Mobileye, Oshkosh, Scout Motors, Sumitomo Rubber, Scout Motors, Suzuki, Waymo, Xpeng AeroHT, Zeekr

Quantum – CES 2025 featured the latest innovations in quantum technologies, offering a glimpse into the future. Quantum technology uses properties of quantum mechanics to enable three distinct disciplines: improved networking, computing, and sensing. Innovations at the show demonstrated how quantum computing, working alongside AI, will allow for breakthroughs in research and computing for finance, chemistry, materials, logistics, and more.
Exhibitors included: Integrated Quantum Photonic, IonQ, QSIMPLUS, Quandela, SK

Sustainability – Sustainability is a crucial trend shaping technology innovation, especially in the context of energy transition. CES featured key advancements including new battery technologies, alternative material development like graphene, and off-grid renewable energy solutions. The show also put a spotlight on innovations such as synthetic microbes, bioplastics, and self-healing concrete that will contribute to sustainable construction.
Exhibitors included: Hydrific, Lyten, Melliens, Panasonic

Startups – Eureka Park was completely full, with 1400 startups from 39 countries including country pavilions representing Africa, European Union (EU), France, Italy, Israel, Japan, Korea, Netherlands, Switzerland, and Ukraine. Eureka Park is where innovators, investors, and the media meet to highlight and get hands-on with the technologies that will shape our collective future in core areas including accessibility, AI, digital health, and sustainability.

Keynotes

NVIDIA
NVIDIA founder and CEO Jensen Huang on Monday drew 6300 attendees to unveil the GeForce RTX 50, surpassing the RTX 4090 in performance, and introduced Agentic AI, a real-time assistant to streamline consumer workflows. Huang also showcased the Cosmos World Foundation Model and generative AI tools to advance robotics navigation. Highlighting AI-driven innovation, Huang announced a partnership with Toyota to develop next-gen autonomous vehicles using the safety-certified NVIDIA DriveOS.

Panasonic Holdings Corporation
Panasonic Holdings Group CEO Yuki Kusumi shared Panasonic Group’s vision for sustainability, artificial intelligence, and the health of future generations. DJ and record producer Steve Aoki jump-started the keynote with a performance before Mr. Kusumi, joined on stage by Marvel actor Anthony Mackie and other Panasonic Group leaders, delivered Panasonic’s “Well Into the Future” message. As an extension of the current Panasonic Well portfolio, Panasonic announced Umi, a holistic digital family wellness platform and coach.

SiriusXM
Jennifer Witz, CEO, SiriusXM, joined Ashley Flowers, #1 female podcaster in the U.S. and host of the hit podcast Crime Junkie, on the C Space stage to deliver a keynote on the intersection of technology, creativity, and storytelling in audio. The conversation covered the importance of authenticity, how AI is changing the creative landscape, and adapting consumer interests.

X Corp.
Linda Yaccarino, CEO, X Corp., spoke with award-winning journalist Catherine Herridge about how the company is defining the future of digital communication. The conversation focused on X’s transformational work to create a “global newsroom in your pocket.” Yaccarino highlighted the significance of Meta’s announcement that the company will follow X’s lead in adopting a community notes approach to content moderation.

Delta Air Lines at Sphere
The first keynote at Sphere in CES history wowed over 8000 attendees! The immersive experience spotlighted Delta Air Lines’ innovations in seamless travel, onboard experiences, and the future of flight. Ed Bastian, CEO, Delta Air Lines, announced Delta Concierge and partnerships with Airbus, DraftKings, Joby, Uber, and YouTube. Special guests included actress Viola Davis, football legend Tom Brady, and GRAMMY-winning icon Lenny Kravitz.

Volvo Group
Martin Lundstedt, President and CEO, Volvo Group, emphasized the company’s commitment to building a safer, more sustainable, and more productive future. He called on policymakers and industry leaders to accelerate the transition to zero emission vehicles and discussed the company’s partnership with Aurora, aimed at advancing the development of safer, self-driving vehicles.

Accenture
Julie Sweet, Chair and CEO, Accenture, discussed how data, AI, and new ways of working are transforming industries and addressing global challenges with Julia Boorstin, CNBC senior media & tech correspondent. Sweet emphasized the need for businesses to build trust in AI technologies, especially as AI becomes increasingly autonomous in a society where trust is scarce. She also highlighted Accenture’s 25th annual Tech Vision, which explores the paths leaders can take when AI is ubiquitous.

Waymo
Tekedra Mawakana, co-CEO, Waymo, spoke with Bloomberg Technology’s Ed Ludlow on the company’s progress in developing its self-driving technology, Waymo Driver. Mawakana emphasized safety and expanding its autonomous ride-hailing service to new cities while showcasing advancements in technology and outlining a vision for a safer and more accessible future.

Conference Programming
CES 2025 offered more than 300 conference sessions, exploring how tech solves some of the world’s greatest challenges.

C Space – C Space at ARIA brought together thousands of senior-level marketing professionals to explore the intersection of technology, media, and branding. Attendees heard from leading industry innovators from brands like Reddit, NBCUniversal, and Microsoft Advertising about how technology is shaping the future of storytelling, consumer engagement, and brand strategy. C Space sessions emphasized the importance of creativity and authenticity in navigating the ever-evolving digital landscape.CES Creator Space – The first-ever CES Creator Space, presented by Sony, gathered storytellers to network, create content, and relax in between visiting exhibitors. Sessions led by industry experts helped creators elevate their craft, featuring discussions on storytelling, content monetization, brand partnerships, rights and ownership, and more.Digital Health Summit brought together the entire health ecosystem to learn, network, and explore the role technology plays in advancing and reforming medicine, healthcare, and consumer wellness.Great Minds series explored the intersection of technology and humanity. Speakers included C-Suite executives, philanthropists, influencers, government leaders, entrepreneurs, venture capitalists, and more.Innovation for All Track included dedicated programming focused on ensuring all voices are represented in technology and innovation, bringing together thought leaders for a series of engagement opportunities, dynamic session content, and networking events.Innovation Policy Summit advanced CTA’s Innovation Agenda. CES brought together policymakers and government guests from around the world to discuss domestic and global tech policy issues including AI, privacy, trade, competition, and more. Conference sessions featured high-level government speakers from the White House, Department of Commerce, Department of Homeland Security, Department of Transportation, Federal Communications Commission, Federal Maritime Commission, Federal Trade Commission, and more.Mobility Stage made its debut in West Hall, exploring the future of mobility tech on the CES show floor. Topics included AI, connected vehicles, software, supply chain, and more.Quantum Means Business, a multi-session conference track developed with Quantum World Congress, gathered some of the brightest quantum minds, showcasing breakthroughs that were once confined to science fiction. Industry leaders from IBM, Microsoft, and beyond shared insights into how quantum, paired with advancements in AI and machine learning, creates unparalleled opportunities across industries.Startup Stage in Eureka Park brought together visionaries to discuss AI, health, startup funding, and more.

Celebrities at CES
Celebrity brand ambassadors like Alexis Ohanian, Denim Richards, Karlie Kloss, Maria Shriver, Mark Cuban, Martha Stewart, Meghan Trainor, Sophia Bush, Stevie Wonder, Terry Crews, Tim Meadows, Tunde Oyeneyin, and will.i.am attended the show. Read more about CES 2025 celebrity guest participation here.

Visit CES or the CES App, sponsored by Panasonic, for keynotes, sessions, and product announcements. View the high-res image gallery and download B-roll. Check out news from this week with CTA press releases including CTA’s U.S. Consumer Technology One-Year Industry Forecast, CES 2025 Green Grants, CTA 2025 Global Innovation Scorecard, CES 2025 Open, and a new investment in Quantum Word Congress.

We’ll DIVE IN again as CES returns to Las Vegas January 6-9, 2026.

About CES®:
CES is the most powerful tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world’s biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA) ®, CES features every aspect of the tech sector. CES 2025 takes place Jan. 7-10, 2025, in Las Vegas. Learn more at CES.tech and follow CES on social.

About Consumer Technology Association (CTA)®:
As North America’s largest technology trade association, CTA is the tech sector. Our members are the world’s leading innovators – from startups to global brands – helping support more than 18 million American jobs. CTA owns and produces CES® – the most powerful tech event in the world. Find us at CTA.tech. Follow us @CTAtech.

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SOURCE Consumer Technology Association

Technology

KNEX Technology CTO Gustavo Gonzalez Elected 2025 President-Elect of OATUG

Published

8 hours ago

January 11, 2025

Gustavo Gonzalez, KNEX Technology’s CTO, has been elected 2025 President-Elect of OATUG, emphasizing his dedication to Oracle innovation, collaboration, and leadership, including Ascend 2025’s strategic initiatives.

IRVINE, Calif., Jan. 10, 2025 /PRNewswire-PRWeb/ — KNEX Technology, a leading Oracle Cloud solutions provider, is proud to announce that its Chief Technology Officer, Gustavo Gonzalez, has been elected as the 2025 President-Elect of the Oracle Applications & Technology Users Group (OATUG). This esteemed appointment highlights Gonzalez’s longstanding commitment to advancing innovation and collaboration within the Oracle community.

OATUG has played a pivotal role in my professional growth, and it is a privilege to contribute to this community which has enriched my career. As President-Elect, I look forward to collaborating with my peers to strengthen the Oracle user community and further its impact on businesses worldwide.

In his new role, Gonzalez will work closely with the OATUG leadership team throughout 2025, preparing to serve as OATUG President in 2026. He will focus on empowering Oracle professionals worldwide by fostering knowledge-sharing, community engagement, and professional development. OATUG, a globally recognized organization, supports its members in overcoming challenges, enhancing the value of Oracle solutions, and driving organizational success.

“OATUG has played a pivotal role in my professional growth, and it is a privilege to contribute to this community which has enriched my career,” said Gustavo Gonzalez. “As President-Elect, I look forward to collaborating with my peers to strengthen the Oracle user community and further its impact on businesses worldwide.”

Gonzalez’s election underscores his dedication to giving back to the Oracle ecosystem. A key focus of his role will include shaping OATUG’s strategic initiatives, such as the annual Ascend Conference, which unites Oracle users, thought leaders, and technology innovators for unparalleled learning and networking opportunities.

The upcoming Ascend 2025 Conference, scheduled for June 8–11 in Orlando, Florida, promises to build on the success of the 2024 event, which attracted more than 1,800 attendees. With early bird registration now open, Gonzalez aims to ensure the conference continues to deliver transformative insights and experiences for the Oracle community.

About OATUG

The Oracle Applications & Technology Users Group (OATUG) is the premier global organization for Oracle users, providing year-round education, networking, and advocacy. OATUG empowers its members to unlock the full potential of Oracle solutions, fostering innovation and collaboration across industries.

About KNEX Technology

KNEX Technology is a trusted leader in Oracle Cloud solutions, delivering cutting-edge products and services to help businesses achieve their objectives. Through its innovative approach and customer-focused strategies, KNEX enables organizations to navigate the complexities of today’s technology landscape. For more information, visit www.knextech.com.

Media Contact

Husna Gyasi, KNEX Technology, 1 (949) 232-0786, husna.ghayaisi@knextech.com, https://knextech.com/

Twitter, LinkedIn

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SOURCE KNEX Technology