PHOTRONICS INC

Photronics, Inc. (NASDAQ: PLAB) is one of the world's leading manufacturers of photomasks, which are high-precision photographic quartz or glass plates containing microscopic images of electronic circuits. The company operates its website at www.photronics.com.

Photronics manufactures photomasks that serve as masters to transfer circuit patterns onto semiconductor wafers and flat-panel display substrates during the fabrication of integrated circuits and displays. The company operates as a single reporting segment focused entirely on photomask manufacturing and serves the semiconductor and display industries. Photomasks are essential components in the production of integrated circuits used in artificial intelligence, cloud computing, microprocessors, memory, telecommunications, internet-connected devices, automotive, and industrial applications, as well as in advanced display technologies including AMOLED and LTPS displays.

The company maintains eleven manufacturing facilities strategically located across multiple continents: three in Taiwan, two in China, one in South Korea, three in the United States, and two in Europe. This global footprint enables Photronics to serve customers worldwide and minimize delivery times to key markets. As of October 31, 2025, the company employed approximately 1,908 full-time and part-time employees globally.

Photronics sells its products to approximately 636 customers, including integrated device manufacturers, fabless semiconductor companies, and pure-play foundries. The company's customer base is concentrated among leading semiconductor and display manufacturers, with the five largest customers accounting for approximately 50 percent of revenue. International operations represent a significant portion of the business, with non-U.S. revenues comprising approximately 82 percent of total revenues.

The company's competitive advantages include its dedication to customer service, ongoing investments in state-of-the-art photomask equipment and facilities, experienced technical personnel, and geographic proximity to customers in key markets. Photronics conducts research and development activities primarily at facilities in Boise, Idaho for integrated circuit photomasks and in South Korea for flat-panel display photomasks, with additional region-specific applications development programs supporting local customer roadmaps worldwide.