{"success":true,"data":{"pressRelease":{"id":"109232","rtpr_id":"nGNX6d01P3","ticker":"GFS","exchange":"NASDAQ","all_tickers":["GFS"],"title":"GlobalFoundries Reports Second Quarter 2026 Financial Results","author":"Globe Newswire","published_at":"2026-08-05T11:00:05.967Z","article_body":"MALTA, N.Y., Aug. 05, 2026 (GLOBE NEWSWIRE) -- GLOBALFOUNDRIES Inc. (GF)\n(Nasdaq: GFS) today announced preliminary financial results for the second\nquarter ended June 30, 2026.\n\nKey Second Quarter Financial Highlights\n* Revenue of $1.786 billion\n* Gross margin of 28.3% and Non-IFRS gross margin((1)) of 29.9%\n* Operating margin of 9.7% and Non-IFRS operating margin((1)) of 16.7%\n* Net income of $167 million and Non-IFRS net income((1)) of $256 million\n* Diluted earnings per share of $0.30 and Non-IFRS diluted earnings per\nshare((1)) of $0.46\n* Non-IFRS adjusted EBITDA((1)) of $587 million\n* Ending cash, cash equivalents and marketable securities of $3.3 billion\n* Net cash provided by operating activities of $405 million and Non-IFRS\nadjusted free cash flow((1)) of $(3) million\n\"GF delivered strong results in the second quarter, with revenue and Non-IFRS\ngross margin exceeding the high end of our guidance ranges,” said Tim Breen,\nCEO of GlobalFoundries. \"We continue to see strong momentum, accelerating\ncustomer demand, and revenue growth across our strategic growth drivers,\nincluding Optical Networking within the AI data center, where our\ndifferentiated silicon photonics and silicon germanium technologies are\ndriving meaningful value for our customers.\"\n\nRecent Business Highlights\n* In July 2026, GF signed a letter of intent with the U.S. Department of\nCommerce for a $300 million award to accelerate U.S. silicon photonics\nleadership. Under the LOI, the Department’s CHIPS Research and Development\nOffice is expected to award GF $300 million to advance next-generation optical\nmaterials, wafer technologies and advanced packaging, reinforcing U.S.\nleadership in a technology essential to AI infrastructure.\n* In July 2026, GF completed the acquisition of Photeon Technologies'\nintegrated voltage regulator (IVR) business, adding differentiated IVR\ntechnology, specialized engineering talent, and expanded R&D capabilities. The\nacquisition complements GF's existing BCD, GaN and integrated inductor\ntechnologies and expands the company's capabilities in power delivery\nsolutions for AI data center applications.\n* In June 2026, GF completed its previously-announced acquisition of\nSynopsys’ ARC Processor IP Solutions business, which together with MIPS\nbrings together RISC-V processor IP, software tools, custom design and\nadvanced manufacturing into a single offering. This acquisition further\nenables GF as a leader in RISC-V IP solutions and establishes the Company as a\nholistic technology partner, offering customers a software-to-silicon\ncapability for Physical AI and beyond.\n* In May 2026, GF launched Quantum Technology Solutions (QTS), building upon\nover a decade of sustained investment in cryogenic CMOS, advanced packaging\nand materials science. Accelerated by an expected $375 million grant by the\nU.S. Department of Commerce, pursuant to a letter of intent, and supported by\nseveral of the leading quantum companies in the world, GF plans to manufacture\nat scale the complete hardware solutions that will power real-world quantum\ncomputing of the future.\nDividend Payment\nOn July 14 2026, GF paid its first-ever quarterly cash dividend of $0.12 per\nshare. In addition, the Board of Directors has approved a dividend of $0.12\nper share payable on October 9, 2026 to shareholders of record as of September\n23, 2026.\n\n ((1)) (See “Reconciliation of IFRS to Non-IFRS\" for a detailed reconciliation of Non-IFRS financial measures to the most directly comparable IFRS measure. See \"Financial Measures (Non-IFRS)\" for further discussion on these Non-IFRS measures and why we believe they are useful.) \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Summary Quarterly Results \n (Unaudited, in millions, except per share amounts and wafer shipments) \n \n Year-over-Year Sequential \n Q2 2026 Q1 2026 Q2 2025 Q2 2026 vs Q2 2025 Q2 2026 vs Q1 2026 \n \n Net revenue $ 1,786 $ 1,634 $ 1,688 $ 98 6 % $ 152 9 % \n \n Gross profit $ 505 $ 451 $ 408 $ 97 24 % $ 54 12 % \n Gross margin 28.3 % 27.6 % 24.2 % +410bps +70bps \n \n Non-IFRS gross profit ((1)) $ 534 $ 474 $ 425 $ 109 26 % $ 60 13 % \n Non-IFRS gross margin ((1)) 29.9 % 29.0 % 25.2 % +470bps +90bps \n \n Operating profit $ 174 $ 180 $ 196 $ (22 ) (11 )% $ (6 ) (3 )% \n Operating margin 9.7 % 11.0 % 11.6 % (190)bps (130)bps \n \n Non-IFRS operating profit ((1)) $ 298 $ 271 $ 258 $ 40 16 % $ 27 10 % \n Non-IFRS operating margin ((1)) 16.7 % 16.6 % 15.3 % +140bps +10bps \n \n Net income $ 167 $ 104 $ 228 $ (61 ) (27 )% $ 63 61 % \n Net income margin 9.4 % 6.4 % 13.5 % (410)bps +300bps \n \n Non-IFRS net income ((1)) $ 256 $ 227 $ 234 $ 22 9 % $ 29 13 % \n Non-IFRS net income margin ( (1)) 14.3 % 13.9 % 13.9 % +40bps +40bps \n \n Diluted earnings per share (\"EPS\") $ 0.30 $ 0.18 $ 0.41 $ (0.11 ) (27 )% $ 0.12 67 % \n \n Non-IFRS diluted EPS ((1)) $ 0.46 $ 0.40 $ 0.42 $ 0.04 10 % $ 0.06 15 % \n \n Non-IFRS adjusted EBITDA ((1)) $ 587 $ 561 $ 585 $ 2 — % $ 26 5 % \n Non-IFRS adjusted EBITDA margin ((1)) 32.9 % 34.3 % 34.7 % (180)bps (140)bps \n \n Cash from operating activities $ 405 $ 542 $ 431 $ (26 ) (6 )% $ (137 ) (25 )% \n \n Wafer shipments (300mm equivalent) (in thousands) 625 579 581 44 8 % 46 8 % \n \n\n((1) See “Reconciliation of IFRS to Non-IFRS\" for a detailed reconciliation\nof Non-IFRS financial measures to the most directly comparable IFRS measure.\nSee \"Financial Measures (Non-IFRS)\" for further discussion on these Non-IFRS\nmeasures and why we believe they are useful.)\n\n \n GLOBALFOUNDRIES Inc. \n \n Summary of Third Quarter 2026 Guidance ((1)) \n ( Unaudited, in millions, except per share amounts) \n \n IFRS Share-Based Non-IFRS ((2)) \n Compensation ((3)) \n Net revenue $1,885 ± $25 \n Gross margin ((2)) 29.5% ± 100bps ~100bps 30.5% ± 100bps \n Operating expenses ((2) ) $318 ± $10 ~$58 $260 ± $10 \n Operating margin ((2) ) 12.7% ± 170bps ~400bps 16.7% ± 170bps \n Diluted EPS ((2)(4)) $0.37 ± $0.05 ~$0.14 $0.51 ± $0.05 \n Fully Diluted Share Count ~556 \n\n\n\n ((1)) (The Guidance provided contains forward-looking statements as defined in the U.S. Private Securities Litigation Act of 1995, and is subject to the safe harbors created therein. The Guidance includes management's beliefs and assumptions and is based on information that is available as of the date of this release.) \n \n ((2)) (Non-IFRS gross margin, Non-IFRS operating expenses, Non-IFRS operating margin and Non-IFRS diluted EPS are Non-IFRS measures and, for purposes of the Guidance only, are defined as gross profit as a percent of revenue, operating expenses, operating profit as a percent of revenue, and diluted EPS, all before share-based compensation, respectively. See \"Financial Measures (Non-IFRS)\" for further discussion on these Non-IFRS measures and why we believe they are useful.) \n \n ((3)) (We expect share-based compensation of $18 million and $58 million in cost of revenue and operating expenses, respectively. The Non-IFRS margin impacts are calculated by dividing share-based compensation by net revenue, and the Non-IFRS diluted EPS impact is calculated by dividing share-based compensation by the fully diluted share count.) \n \n ((4)) (Included in IFRS and Non-IFRS diluted EPS is net interest income (expense) and other income (expense) which we estimate will be between $3 million and $11 million for the third quarter 2026. Also included in IFRS and Non-IFRS diluted EPS is income tax expense which we estimate will be between $28 million and $52 million for the third quarter 2026.) \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Consolidated Statements of Operations \n (Unaudited, in millions, except per share amounts) \n \n Three Months Ended \n June 30, 2026 June 30, 2025 \n \n Net revenue $ 1,786 $ 1,688 \n Cost of revenue 1,281 1,280 \n Gross profit $ 505 $ 408 \n Operating expenses: \n Research and development 174 134 \n Selling, general and administrative 157 78 \n Operating expenses $ 331 $ 212 \n Operating profit $ 174 $ 196 \n Finance income (expense), net 9 17 \n Other income (expense), net 13 8 \n Income tax (expense) benefit (29 ) 7 \n Net income $ 167 $ 228 \n EPS: \n Basic $ 0.30 $ 0.41 \n Diluted $ 0.30 $ 0.41 \n Shares used in EPS calculation: \n Basic 549 555 \n Diluted 556 557 \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Condensed Consolidated Statements of Financial Position \n (Unaudited, in millions) \n \n As of \n June 30, 2026 December 31, 2025 \n \n Assets: \n Cash and cash equivalents $ 1,087 $ 1,809 \n Marketable securities 1,270 1,241 \n Receivables, prepayments and other 1,489 1,578 \n Inventories 1,622 1,577 \n Current assets $ 5,468 $ 6,205 \n Property, plant and equipment, net $ 7,098 $ 7,223 \n Goodwill and intangible assets, net 1,861 1,368 \n Marketable securities 946 939 \n Right-of-use assets 578 569 \n Other assets 937 837 \n Non-current assets $ 11,420 $ 10,936 \n Total assets $ 16,888 $ 17,141 \n Liabilities and equity: \n Current portion of long-term debt $ 98 $ 86 \n Other current liabilities 2,111 2,282 \n Current liabilities $ 2,209 $ 2,368 \n Non-current portion of long-term debt $ 1,024 $ 1,065 \n Non-current portion of lease obligations 495 487 \n Other liabilities 1,286 1,238 \n Non-current liabilities $ 2,805 $ 2,790 \n Total liabilities $ 5,014 $ 5,158 \n Shareholders' equity: \n Common stock / additional paid-in capital $ 23,937 $ 24,231 \n Accumulated deficit (12,178 ) (12,381 ) \n Accumulated other comprehensive income 59 78 \n Non-controlling interests 56 55 \n Total liabilities and equity $ 16,888 $ 17,141 \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Condensed Consolidated Statements of Cash Flows \n (Unaudited, in millions) \n \n Three Months Ended \n June 30, 2026 June 30, 2025 \n Operating Activities: \n Net income $ 167 $ 228 \n Depreciation and amortization 307 335 \n Finance (income) expense, net and other (14 ) (8 ) \n Deferred income taxes 18 (20 ) \n Net change in working capital (115 ) (136 ) \n Other non-cash operating activities 42 32 \n Net cash provided by operating activities $ 405 $ 431 \n \n Investing Activities: \n Purchases of property, plant and equipment and intangible assets $ (411 ) $ (159 ) \n Acquisitions, net of cash acquired (440 ) — \n Net sales (purchases) of marketable securities (294 ) (23 ) \n Other investing activities 26 (25 ) \n Net cash used in investing activities $ (1,119 ) $ (207 ) \n \n Financing Activities: \n Proceeds from issuance of equity instruments, net of taxes paid $ (3 ) $ 1 \n Proceeds (repayment) of debt, net (45 ) (36 ) \n Net cash used in financing activities $ (48 ) $ (35 ) \n Effect of exchange rate changes — 5 \n Net change in cash and cash equivalents $ (762 ) $ 194 \n Cash and cash equivalents at the beginning of the period 1,849 1,596 \n Cash and cash equivalents at the end of the period $ 1,087 $ 1,790 \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Reconciliation of IFRS to Non-IFRS \n (Unaudited, in millions, except per share amounts) \n \n Three Months Ended June 30, 2026 \n Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS \n As Reported $ 505 $ 157 $ 174 $ 174 $ 13 $ (29 ) $ 167 $ 0.30 \n IFRS margins ((1)) 28.3 % 9.7 % 9.4 % \n Share-based compensation 23 (38 ) (25 ) 86 — (3 ) 83 0.15 \n Structural optimization ((2)) 3 (4 ) — 7 — (2 ) 5 0.01 \n Amortization of acquired intangibles and other acquisition related charges 3 (23 ) (5 ) 31 — — 31 0.06 \n Revaluation and gain on sale of equity investments — — — — (25 ) 5 (20 ) (0.04 ) \n Tax matters ((3)) — — — — — (10 ) (10 ) (0.02 ) \n Non-IFRS measures ((1)) $ 534 $ 92 $ 144 $ 298 $ (12 ) $ (39 ) $ 256 $ 0.46 \n Non-IFRS margins ((1)) 29.9 % 16.7 % 14.3 % \n\n\n\n Three Months Ended March 31, 2026 \n Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS \n As Reported $ 451 $ 139 $ 132 $ 180 $ (10 ) $ (81 ) $ 104 $ 0.18 \n IFRS margins ((1)) 27.6 % 11.0 % 6.4 % \n Share-based compensation 16 (32 ) (15 ) 63 — (2 ) 61 0.11 \n Structural optimization ((2)) 2 (3 ) (1 ) 6 — (1 ) 5 0.01 \n Amortization of acquired intangibles and other acquisition related charges 5 (15 ) (2 ) 22 — (3 ) 19 0.03 \n Tax matters ((3)) — — — — — 38 38 0.07 \n Non-IFRS measures ((1)) $ 474 $ 89 $ 114 $ 271 $ (10 ) $ (49 ) $ 227 $ 0.40 \n Non-IFRS margins ((1)) 29.0 % 16.6 % 13.9 % \n\n\n\n Three Months Ended June 30, 2025 \n Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS \n As Reported $ 408 $ 78 $ 134 $ 196 $ 8 $ 7 $ 228 $ 0.41 \n IFRS margins ((1)) 24.2 % 11.6 % 13.5 % \n Share-based compensation 17 (29 ) (8 ) 54 — (2 ) 52 0.09 \n Structural optimization ((2)) — (5 ) — 5 (24 ) — (19 ) (0.03 ) \n Amortization of acquired intangibles and other acquisition related charges — (2 ) (1 ) 3 — — 3 0.01 \n Litigation claims — — — — 9 (1 ) 8 0.01 \n Tax matters ((3)) — — — — — (38 ) (38 ) (0.07 ) \n Non-IFRS measures ((1)) $ 425 $ 42 $ 125 $ 258 $ (7 ) $ (34 ) $ 234 $ 0.42 \n Non-IFRS margins ((1)) 25.2 % 15.3 % 13.9 % \n\n\n\n ((1)) (See \"Financial Measures (Non-IFRS)\" for further discussion on these Non-IFRS measures and why we believe they are useful.) \n \n ((2)) (Structural optimization represents costs associated with employee workforce reductions, manufacturing footprint alignment and liquidation charges.) \n \n ((3)) (Includes $(10) million and $38 million tax impacts from foreign exchange revaluation of German deferred taxes for the three months ended June 30, 2026 and March 31, 2026, respectively, and $(38) million net deferred tax asset recognition and foreign exchange rate impact for the three months ended June, 30, 2025.) \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Reconciliation of IFRS to Non-IFRS \n Non-IFRS Adjusted Free Cash Flow ((1)) \n (Unaudited, in millions) \n \n Three Months Ended \n June 30, 2026 March 31, 2026 June 30, 2025 \n \n Net cash provided by operating activities $ 405 $ 542 $ 431 \n Less: Purchases of property, plant and equipment and intangible assets (411 ) (312 ) (159 ) \n Add: Proceeds from government grants 3 3 5 \n Non-IFRS total capital expenditures net of proceeds from government grants ((1)) $ (408 ) (309 ) (154 ) \n Non-IFRS adjusted free cash flow ((1)) $ (3 ) $ 233 $ 277 \n Non-IFRS adjusted free cash flow margin ((1)) (0.2 )% 14.3 % 16.4 % \n\n((1)  See \"Financial Measures (Non-IFRS)\" for further discussion on this\nNon-IFRS measure and why we believe it is useful.)\n\n \n Reconciliation of IFRS to Non-IFRS \n Non-IFRS Adjusted EBITDA ((1)) \n (Unaudited, in millions) \n \n Three Months Ended \n June 30, 2026 March 31, 2026 June 30, 2025 \n \n Net revenue $ 1,786 $ 1,634 $ 1,688 \n Net income 167 104 228 \n Net income margin 9.4 % 6.4 % 13.5 % \n Depreciation and amortization 307 311 335 \n Finance expense 23 22 22 \n Finance income (32 ) (37 ) (39 ) \n Income tax expense (benefit) 29 81 (7 ) \n Share-based compensation 86 63 54 \n Structural optimization 7 6 (19 ) \n Revaluation and gain on sale of equity investments (25 ) — — \n Litigation claims — — 9 \n Other acquisition related charges 25 11 2 \n Non-IFRS adjusted EBITDA ((1)) $ 587 $ 561 $ 585 \n Non-IFRS adjusted EBITDA margin ((1)) 32.9 % 34.3 % 34.7 % \n\n((1)  See \"Financial Measures (Non-IFRS)\" for further discussion on this\nNon-IFRS measure and why we believe it is useful.)\n\nGLOBALFOUNDRIES Inc.\n\nFinancial Measures (Non-IFRS)\n\nIn addition to the financial information presented in accordance with\nInternational Financial Reporting Standards (\"IFRS\"), this press release\nincludes the following Non-IFRS financial measures: Non-IFRS gross profit,\nNon-IFRS operating profit, Non-IFRS operating expense, Non-IFRS net income,\nNon-IFRS selling, general and administrative, Non-IFRS research and\ndevelopment, Non-IFRS other income (expense), Non-IFRS income tax benefit\n(expense), Non-IFRS diluted earnings per share (“EPS”), Non-IFRS adjusted\nEBITDA, Non-IFRS adjusted free cash flow, Non-IFRS total capital expenditures\nnet of proceeds from government grants, and any related margins. We define\neach of Non-IFRS gross profit, Non-IFRS selling, general and administrative,\nNon-IFRS research and development, Non-IFRS operating profit, Non-IFRS other\nincome (expense), Non-IFRS income tax benefit (expense) and Non-IFRS net\nincome as gross profit, selling, general and administrative, research and\ndevelopment, operating profit, other income (expense), income tax benefit\n(expense), and net income (loss), respectively, adjusted for share-based\ncompensation, structural optimization, amortization of acquired intangibles\nand other acquisition related charges, impairment charges, revaluation of\nequity investments, restructuring charges, litigation claims, tax matters, and\nany associated income tax effects. We define Non-IFRS operating expense as\nNon-IFRS gross profit minus Non-IFRS operating profit. We define Non-IFRS\ndiluted EPS as Non-IFRS net income divided by the diluted shares outstanding.\nWe define Non-IFRS adjusted free cash flow as cash flow provided by (used in)\noperating activities less purchases of property, plant and equipment and\nintangible assets plus proceeds from government grants related to capital\nexpenditures. We define Non-IFRS total capital expenditures net of proceeds\nfrom government grant as purchases of property, plant and equipment and\nintangible assets less proceeds of government grants. We define Non-IFRS\nadjusted EBITDA as net income adjusted for the impact of finance expense,\nfinance income, income tax expense (benefit), depreciation and amortization,\nshare-based compensation, restructuring charges, impairment charges,\nrevaluation of equity investments, structural optimization, litigation claims\nand acquisition related charges. We define each of Non-IFRS gross margin,\nNon-IFRS operating margin, Non-IFRS net income margin, Non-IFRS adjusted free\ncash flow margin and Non-IFRS adjusted EBITDA margin as Non-IFRS gross profit,\nNon-IFRS operating profit, Non-IFRS net income, Non-IFRS adjusted free cash\nflow and Non-IFRS adjusted EBITDA, respectively, divided by net revenue. Any\nadjustments described above that are zero for a given period are excluded from\nthe “Reconciliation of IFRS to Non-IFRS” table. See \"Reconciliation of\nIFRS to Non-IFRS\" section for a detailed reconciliation of Non-IFRS financial\nmeasures to the most directly comparable IFRS measure.\n\nWe believe that in addition to our results determined in accordance with IFRS,\nthese Non-IFRS financial measures provide useful information to both\nmanagement and investors in measuring our financial performance and highlight\ntrends in our business that may not otherwise be apparent when relying solely\non IFRS measures. These Non-IFRS financial measures provide supplemental\ninformation regarding our operating performance that excludes certain gains,\nlosses and non-cash charges that occur relatively infrequently and/or that we\nconsider to be unrelated to our core operations. Management believes that\nNon-IFRS adjusted free cash flow as a Non-IFRS measure is helpful to investors\nas it provides insights into the nature and amount of cash the Company\ngenerates in the period.\n\nNon-IFRS financial information is presented for supplemental informational\npurposes only and should not be considered in isolation or as a substitute for\nfinancial information presented in accordance with IFRS. Our presentation of\nNon-IFRS measures should not be construed as an inference that our future\nresults will be unaffected by unusual or nonrecurring items. Other companies\nin our industry may calculate these measures differently, which may limit\ntheir usefulness as comparative measures.\n\nConference Call and Webcast Information\n\nGF will host a conference call with the financial community on Wednesday,\nAugust 5, 2026 at 8:30 a.m. U.S. Eastern Time (ET) to review the second\nquarter 2026 results in detail. Interested parties may join the scheduled\nconference call by registering at\nhttps://edge.media-server.com/mmc/p/osibvq84/.\n\nThe call will be webcast and can be accessed from the GF Investor Relations\nwebsite https://investors.gf.com. A replay of the call will be available on\nthe GF Investor Relations website within 24 hours of the actual call.\n\nGF uses its Investor Relations website at https://investors.gf.com as a means\nof disclosing material non-public information and for complying with its\ndisclosure obligations under Regulation FD. Accordingly, investors should\nmonitor this website, in addition to following GF's press releases, Securities\nand Exchange Commission (SEC) filings, public conference calls and webcasts.\n\nAbout GlobalFoundries\n\nGlobalFoundries (GF) is a leading manufacturer of essential semiconductors,\nenabling AI at scale from the cloud to the physical world. Through deep\npartnerships with customers, GF delivers differentiated, power‑efficient and\nhigh‑performance solutions for automotive, aerospace and defense, data\ncenter, smart mobile devices, internet of things and other high‑growth\nmarkets. With global manufacturing operations across the U.S., Europe and\nAsia, GF is a trusted and holistic technology partner for customers around the\nworld. GF’s talented, global team remains focused every day on security,\nlongevity and sustainability. For more information, visit www.gf.com. © 2026\nGlobalFoundries Inc. GF®, GlobalFoundries®, the GF logos and other GF marks\nare trademarks of GlobalFoundries Inc. or its subsidiaries. All other\ntrademarks are the property of their respective owners.\n\nForward-looking Statements and Third Party Data\n\nThis press release includes “forward-looking statements” that reflect our\ncurrent expectations and views of future events. These forward-looking\nstatements are made under the \"safe harbor\" provisions of the U.S. Private\nSecurities Litigation Reform Act of 1995 and include but are not limited to,\nstatements regarding our financial outlook, future guidance, product\ndevelopment, business strategy and plans, and market trends, opportunities and\npositioning. These statements are based on current expectations, assumptions,\nestimates, forecasts, projections and limited information available at the\ntime they are made. Words such as “expect,” “anticipate,”\n“should,” “believe,” “hope,” “target,” “project,”\n“goals,” “estimate,” “potential,” “predict,” “may,”\n“will,” “might,” “could,” “intend,” “shall,” \"outlook,\"\n\"on track\" and variations of these terms or the negative of these terms and\nsimilar expressions are intended to identify these forward-looking statements,\nalthough not all forward-looking statements contain these identifying words.\nForward-looking statements are subject to a broad variety of risks and\nuncertainties, both known and unknown. Any inaccuracy in our assumptions and\nestimates could affect the realization of the expectations or forecasts in\nthese forward-looking statements. For example, our business could be impacted\nby geopolitical conditions such as the ongoing political and trade tensions\nwith China and the continuation of conflicts in the Middle East and Ukraine;\nongoing political developments in the United States, and in particular, any\npolitical and policy-related changes that may impact our industry and the\nmarket generally, such as the imposition of trade controls, tariffs and\ncounter-tariffs between the United States and its trade partners and new\nlegislation; the market for our products may develop or recover more slowly\nthan expected or than it has in the past; we may fail to achieve the full\nbenefits of our strategic optimization efforts; our operating results may\nfluctuate more than expected; there may be significant fluctuations in our\nresults of operations and cash flows related to our revenue recognition or\notherwise; a network or data security incident that allows unauthorized access\nto our network or data or our customers’ data could result in a system\ndisruption, loss of data or damage our reputation; we could experience\ninterruptions or performance problems associated with our technology,\nincluding a service outage; global economic conditions could deteriorate,\nincluding due to rising inflation and any potential recession; the expected\nbenefits of our announced partnerships may fail to materialize; and we may\nfail to achieve the anticipated results or benefits from funding received\n(including awards under the U.S. CHIPS and Science Act and New York State\nGreen CHIPS) and our expected results and planned or further expansions and\noperations may not proceed as planned if funding we expect to receive is\ndelayed or withheld for any reason. It is not possible for us to predict all\nrisks, nor can we assess the impact of all factors on our business or the\nextent to which any factor, or combination of factors, may cause actual\nresults or outcomes to differ materially from those contained in any\nforward-looking statements we may make. Moreover, we operate in a competitive\nand rapidly changing market, and new risks may emerge from time to time. You\nshould not rely upon forward-looking statements as predictions of future\nevents. These statements are based on our historical performance and on our\ncurrent plans, estimates and projections in light of information currently\navailable to us, and therefore you should not place undue reliance on them.\n\nAlthough we believe that the expectations reflected in our statements are\nreasonable, we cannot guarantee that the future results, levels of activity,\nperformance or events and circumstances described in the forward-looking\nstatements will be achieved or occur. Moreover, neither we, nor any other\nperson, assumes responsibility for the accuracy and completeness of these\nstatements. Recipients are cautioned not to place undue reliance on these\nforward-looking statements, which speak only as of the date such statements\nare made and should not be construed as statements of fact. Except to the\nextent required by federal securities laws, we undertake no obligation to\nupdate any information or any forward-looking statements as a result of new\ninformation, subsequent events or any other circumstances after the date\nhereof, or to reflect the occurrence of unanticipated events. For a discussion\nof potential risks and uncertainties, please refer to the risk factors and\ncautionary statements in our 2025 Annual Report on Form 20-F, current reports\non Form 6-K and other reports filed with the Securities and Exchange\nCommission (SEC). Copies of our SEC filings are available on our Investor\nRelations website, investors.gf.com, or from the SEC website, www.sec.gov.\n\nFor further information, please contact:\n\nInvestor Relations\nir@gf.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/8d508fc4-5eca-472a-bcd1-34f5750681d1)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX6d01P3","title":"GlobalFoundries Reports Second Quarter 2026 Financial Results","author":"Globe Newswire","ticker":"GFS","created":"2026-08-05T11:00:05.967Z","tickers":["GFS"],"exchange":"NASDAQ","article_body":"MALTA, N.Y., Aug. 05, 2026 (GLOBE NEWSWIRE) -- GLOBALFOUNDRIES Inc. (GF)\n(Nasdaq: GFS) today announced preliminary financial results for the second\nquarter ended June 30, 2026.\n\nKey Second Quarter Financial Highlights\n* Revenue of $1.786 billion\n* Gross margin of 28.3% and Non-IFRS gross margin((1)) of 29.9%\n* Operating margin of 9.7% and Non-IFRS operating margin((1)) of 16.7%\n* Net income of $167 million and Non-IFRS net income((1)) of $256 million\n* Diluted earnings per share of $0.30 and Non-IFRS diluted earnings per\nshare((1)) of $0.46\n* Non-IFRS adjusted EBITDA((1)) of $587 million\n* Ending cash, cash equivalents and marketable securities of $3.3 billion\n* Net cash provided by operating activities of $405 million and Non-IFRS\nadjusted free cash flow((1)) of $(3) million\n\"GF delivered strong results in the second quarter, with revenue and Non-IFRS\ngross margin exceeding the high end of our guidance ranges,” said Tim Breen,\nCEO of GlobalFoundries. \"We continue to see strong momentum, accelerating\ncustomer demand, and revenue growth across our strategic growth drivers,\nincluding Optical Networking within the AI data center, where our\ndifferentiated silicon photonics and silicon germanium technologies are\ndriving meaningful value for our customers.\"\n\nRecent Business Highlights\n* In July 2026, GF signed a letter of intent with the U.S. Department of\nCommerce for a $300 million award to accelerate U.S. silicon photonics\nleadership. Under the LOI, the Department’s CHIPS Research and Development\nOffice is expected to award GF $300 million to advance next-generation optical\nmaterials, wafer technologies and advanced packaging, reinforcing U.S.\nleadership in a technology essential to AI infrastructure.\n* In July 2026, GF completed the acquisition of Photeon Technologies'\nintegrated voltage regulator (IVR) business, adding differentiated IVR\ntechnology, specialized engineering talent, and expanded R&D capabilities. The\nacquisition complements GF's existing BCD, GaN and integrated inductor\ntechnologies and expands the company's capabilities in power delivery\nsolutions for AI data center applications.\n* In June 2026, GF completed its previously-announced acquisition of\nSynopsys’ ARC Processor IP Solutions business, which together with MIPS\nbrings together RISC-V processor IP, software tools, custom design and\nadvanced manufacturing into a single offering. This acquisition further\nenables GF as a leader in RISC-V IP solutions and establishes the Company as a\nholistic technology partner, offering customers a software-to-silicon\ncapability for Physical AI and beyond.\n* In May 2026, GF launched Quantum Technology Solutions (QTS), building upon\nover a decade of sustained investment in cryogenic CMOS, advanced packaging\nand materials science. Accelerated by an expected $375 million grant by the\nU.S. Department of Commerce, pursuant to a letter of intent, and supported by\nseveral of the leading quantum companies in the world, GF plans to manufacture\nat scale the complete hardware solutions that will power real-world quantum\ncomputing of the future.\nDividend Payment\nOn July 14 2026, GF paid its first-ever quarterly cash dividend of $0.12 per\nshare. In addition, the Board of Directors has approved a dividend of $0.12\nper share payable on October 9, 2026 to shareholders of record as of September\n23, 2026.\n\n ((1)) (See “Reconciliation of IFRS to Non-IFRS\" for a detailed reconciliation of Non-IFRS financial measures to the most directly comparable IFRS measure. See \"Financial Measures (Non-IFRS)\" for further discussion on these Non-IFRS measures and why we believe they are useful.) \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Summary Quarterly Results \n (Unaudited, in millions, except per share amounts and wafer shipments) \n \n Year-over-Year Sequential \n Q2 2026 Q1 2026 Q2 2025 Q2 2026 vs Q2 2025 Q2 2026 vs Q1 2026 \n \n Net revenue $ 1,786 $ 1,634 $ 1,688 $ 98 6 % $ 152 9 % \n \n Gross profit $ 505 $ 451 $ 408 $ 97 24 % $ 54 12 % \n Gross margin 28.3 % 27.6 % 24.2 % +410bps +70bps \n \n Non-IFRS gross profit ((1)) $ 534 $ 474 $ 425 $ 109 26 % $ 60 13 % \n Non-IFRS gross margin ((1)) 29.9 % 29.0 % 25.2 % +470bps +90bps \n \n Operating profit $ 174 $ 180 $ 196 $ (22 ) (11 )% $ (6 ) (3 )% \n Operating margin 9.7 % 11.0 % 11.6 % (190)bps (130)bps \n \n Non-IFRS operating profit ((1)) $ 298 $ 271 $ 258 $ 40 16 % $ 27 10 % \n Non-IFRS operating margin ((1)) 16.7 % 16.6 % 15.3 % +140bps +10bps \n \n Net income $ 167 $ 104 $ 228 $ (61 ) (27 )% $ 63 61 % \n Net income margin 9.4 % 6.4 % 13.5 % (410)bps +300bps \n \n Non-IFRS net income ((1)) $ 256 $ 227 $ 234 $ 22 9 % $ 29 13 % \n Non-IFRS net income margin ( (1)) 14.3 % 13.9 % 13.9 % +40bps +40bps \n \n Diluted earnings per share (\"EPS\") $ 0.30 $ 0.18 $ 0.41 $ (0.11 ) (27 )% $ 0.12 67 % \n \n Non-IFRS diluted EPS ((1)) $ 0.46 $ 0.40 $ 0.42 $ 0.04 10 % $ 0.06 15 % \n \n Non-IFRS adjusted EBITDA ((1)) $ 587 $ 561 $ 585 $ 2 — % $ 26 5 % \n Non-IFRS adjusted EBITDA margin ((1)) 32.9 % 34.3 % 34.7 % (180)bps (140)bps \n \n Cash from operating activities $ 405 $ 542 $ 431 $ (26 ) (6 )% $ (137 ) (25 )% \n \n Wafer shipments (300mm equivalent) (in thousands) 625 579 581 44 8 % 46 8 % \n \n\n((1) See “Reconciliation of IFRS to Non-IFRS\" for a detailed reconciliation\nof Non-IFRS financial measures to the most directly comparable IFRS measure.\nSee \"Financial Measures (Non-IFRS)\" for further discussion on these Non-IFRS\nmeasures and why we believe they are useful.)\n\n \n GLOBALFOUNDRIES Inc. \n \n Summary of Third Quarter 2026 Guidance ((1)) \n ( Unaudited, in millions, except per share amounts) \n \n IFRS Share-Based Non-IFRS ((2)) \n Compensation ((3)) \n Net revenue $1,885 ± $25 \n Gross margin ((2)) 29.5% ± 100bps ~100bps 30.5% ± 100bps \n Operating expenses ((2) ) $318 ± $10 ~$58 $260 ± $10 \n Operating margin ((2) ) 12.7% ± 170bps ~400bps 16.7% ± 170bps \n Diluted EPS ((2)(4)) $0.37 ± $0.05 ~$0.14 $0.51 ± $0.05 \n Fully Diluted Share Count ~556 \n\n\n\n ((1)) (The Guidance provided contains forward-looking statements as defined in the U.S. Private Securities Litigation Act of 1995, and is subject to the safe harbors created therein. The Guidance includes management's beliefs and assumptions and is based on information that is available as of the date of this release.) \n \n ((2)) (Non-IFRS gross margin, Non-IFRS operating expenses, Non-IFRS operating margin and Non-IFRS diluted EPS are Non-IFRS measures and, for purposes of the Guidance only, are defined as gross profit as a percent of revenue, operating expenses, operating profit as a percent of revenue, and diluted EPS, all before share-based compensation, respectively. See \"Financial Measures (Non-IFRS)\" for further discussion on these Non-IFRS measures and why we believe they are useful.) \n \n ((3)) (We expect share-based compensation of $18 million and $58 million in cost of revenue and operating expenses, respectively. The Non-IFRS margin impacts are calculated by dividing share-based compensation by net revenue, and the Non-IFRS diluted EPS impact is calculated by dividing share-based compensation by the fully diluted share count.) \n \n ((4)) (Included in IFRS and Non-IFRS diluted EPS is net interest income (expense) and other income (expense) which we estimate will be between $3 million and $11 million for the third quarter 2026. Also included in IFRS and Non-IFRS diluted EPS is income tax expense which we estimate will be between $28 million and $52 million for the third quarter 2026.) \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Consolidated Statements of Operations \n (Unaudited, in millions, except per share amounts) \n \n Three Months Ended \n June 30, 2026 June 30, 2025 \n \n Net revenue $ 1,786 $ 1,688 \n Cost of revenue 1,281 1,280 \n Gross profit $ 505 $ 408 \n Operating expenses: \n Research and development 174 134 \n Selling, general and administrative 157 78 \n Operating expenses $ 331 $ 212 \n Operating profit $ 174 $ 196 \n Finance income (expense), net 9 17 \n Other income (expense), net 13 8 \n Income tax (expense) benefit (29 ) 7 \n Net income $ 167 $ 228 \n EPS: \n Basic $ 0.30 $ 0.41 \n Diluted $ 0.30 $ 0.41 \n Shares used in EPS calculation: \n Basic 549 555 \n Diluted 556 557 \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Condensed Consolidated Statements of Financial Position \n (Unaudited, in millions) \n \n As of \n June 30, 2026 December 31, 2025 \n \n Assets: \n Cash and cash equivalents $ 1,087 $ 1,809 \n Marketable securities 1,270 1,241 \n Receivables, prepayments and other 1,489 1,578 \n Inventories 1,622 1,577 \n Current assets $ 5,468 $ 6,205 \n Property, plant and equipment, net $ 7,098 $ 7,223 \n Goodwill and intangible assets, net 1,861 1,368 \n Marketable securities 946 939 \n Right-of-use assets 578 569 \n Other assets 937 837 \n Non-current assets $ 11,420 $ 10,936 \n Total assets $ 16,888 $ 17,141 \n Liabilities and equity: \n Current portion of long-term debt $ 98 $ 86 \n Other current liabilities 2,111 2,282 \n Current liabilities $ 2,209 $ 2,368 \n Non-current portion of long-term debt $ 1,024 $ 1,065 \n Non-current portion of lease obligations 495 487 \n Other liabilities 1,286 1,238 \n Non-current liabilities $ 2,805 $ 2,790 \n Total liabilities $ 5,014 $ 5,158 \n Shareholders' equity: \n Common stock / additional paid-in capital $ 23,937 $ 24,231 \n Accumulated deficit (12,178 ) (12,381 ) \n Accumulated other comprehensive income 59 78 \n Non-controlling interests 56 55 \n Total liabilities and equity $ 16,888 $ 17,141 \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Condensed Consolidated Statements of Cash Flows \n (Unaudited, in millions) \n \n Three Months Ended \n June 30, 2026 June 30, 2025 \n Operating Activities: \n Net income $ 167 $ 228 \n Depreciation and amortization 307 335 \n Finance (income) expense, net and other (14 ) (8 ) \n Deferred income taxes 18 (20 ) \n Net change in working capital (115 ) (136 ) \n Other non-cash operating activities 42 32 \n Net cash provided by operating activities $ 405 $ 431 \n \n Investing Activities: \n Purchases of property, plant and equipment and intangible assets $ (411 ) $ (159 ) \n Acquisitions, net of cash acquired (440 ) — \n Net sales (purchases) of marketable securities (294 ) (23 ) \n Other investing activities 26 (25 ) \n Net cash used in investing activities $ (1,119 ) $ (207 ) \n \n Financing Activities: \n Proceeds from issuance of equity instruments, net of taxes paid $ (3 ) $ 1 \n Proceeds (repayment) of debt, net (45 ) (36 ) \n Net cash used in financing activities $ (48 ) $ (35 ) \n Effect of exchange rate changes — 5 \n Net change in cash and cash equivalents $ (762 ) $ 194 \n Cash and cash equivalents at the beginning of the period 1,849 1,596 \n Cash and cash equivalents at the end of the period $ 1,087 $ 1,790 \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Reconciliation of IFRS to Non-IFRS \n (Unaudited, in millions, except per share amounts) \n \n Three Months Ended June 30, 2026 \n Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS \n As Reported $ 505 $ 157 $ 174 $ 174 $ 13 $ (29 ) $ 167 $ 0.30 \n IFRS margins ((1)) 28.3 % 9.7 % 9.4 % \n Share-based compensation 23 (38 ) (25 ) 86 — (3 ) 83 0.15 \n Structural optimization ((2)) 3 (4 ) — 7 — (2 ) 5 0.01 \n Amortization of acquired intangibles and other acquisition related charges 3 (23 ) (5 ) 31 — — 31 0.06 \n Revaluation and gain on sale of equity investments — — — — (25 ) 5 (20 ) (0.04 ) \n Tax matters ((3)) — — — — — (10 ) (10 ) (0.02 ) \n Non-IFRS measures ((1)) $ 534 $ 92 $ 144 $ 298 $ (12 ) $ (39 ) $ 256 $ 0.46 \n Non-IFRS margins ((1)) 29.9 % 16.7 % 14.3 % \n\n\n\n Three Months Ended March 31, 2026 \n Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS \n As Reported $ 451 $ 139 $ 132 $ 180 $ (10 ) $ (81 ) $ 104 $ 0.18 \n IFRS margins ((1)) 27.6 % 11.0 % 6.4 % \n Share-based compensation 16 (32 ) (15 ) 63 — (2 ) 61 0.11 \n Structural optimization ((2)) 2 (3 ) (1 ) 6 — (1 ) 5 0.01 \n Amortization of acquired intangibles and other acquisition related charges 5 (15 ) (2 ) 22 — (3 ) 19 0.03 \n Tax matters ((3)) — — — — — 38 38 0.07 \n Non-IFRS measures ((1)) $ 474 $ 89 $ 114 $ 271 $ (10 ) $ (49 ) $ 227 $ 0.40 \n Non-IFRS margins ((1)) 29.0 % 16.6 % 13.9 % \n\n\n\n Three Months Ended June 30, 2025 \n Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS \n As Reported $ 408 $ 78 $ 134 $ 196 $ 8 $ 7 $ 228 $ 0.41 \n IFRS margins ((1)) 24.2 % 11.6 % 13.5 % \n Share-based compensation 17 (29 ) (8 ) 54 — (2 ) 52 0.09 \n Structural optimization ((2)) — (5 ) — 5 (24 ) — (19 ) (0.03 ) \n Amortization of acquired intangibles and other acquisition related charges — (2 ) (1 ) 3 — — 3 0.01 \n Litigation claims — — — — 9 (1 ) 8 0.01 \n Tax matters ((3)) — — — — — (38 ) (38 ) (0.07 ) \n Non-IFRS measures ((1)) $ 425 $ 42 $ 125 $ 258 $ (7 ) $ (34 ) $ 234 $ 0.42 \n Non-IFRS margins ((1)) 25.2 % 15.3 % 13.9 % \n\n\n\n ((1)) (See \"Financial Measures (Non-IFRS)\" for further discussion on these Non-IFRS measures and why we believe they are useful.) \n \n ((2)) (Structural optimization represents costs associated with employee workforce reductions, manufacturing footprint alignment and liquidation charges.) \n \n ((3)) (Includes $(10) million and $38 million tax impacts from foreign exchange revaluation of German deferred taxes for the three months ended June 30, 2026 and March 31, 2026, respectively, and $(38) million net deferred tax asset recognition and foreign exchange rate impact for the three months ended June, 30, 2025.) \n\n\n\n GLOBALFOUNDRIES Inc. \n \n Reconciliation of IFRS to Non-IFRS \n Non-IFRS Adjusted Free Cash Flow ((1)) \n (Unaudited, in millions) \n \n Three Months Ended \n June 30, 2026 March 31, 2026 June 30, 2025 \n \n Net cash provided by operating activities $ 405 $ 542 $ 431 \n Less: Purchases of property, plant and equipment and intangible assets (411 ) (312 ) (159 ) \n Add: Proceeds from government grants 3 3 5 \n Non-IFRS total capital expenditures net of proceeds from government grants ((1)) $ (408 ) (309 ) (154 ) \n Non-IFRS adjusted free cash flow ((1)) $ (3 ) $ 233 $ 277 \n Non-IFRS adjusted free cash flow margin ((1)) (0.2 )% 14.3 % 16.4 % \n\n((1)  See \"Financial Measures (Non-IFRS)\" for further discussion on this\nNon-IFRS measure and why we believe it is useful.)\n\n \n Reconciliation of IFRS to Non-IFRS \n Non-IFRS Adjusted EBITDA ((1)) \n (Unaudited, in millions) \n \n Three Months Ended \n June 30, 2026 March 31, 2026 June 30, 2025 \n \n Net revenue $ 1,786 $ 1,634 $ 1,688 \n Net income 167 104 228 \n Net income margin 9.4 % 6.4 % 13.5 % \n Depreciation and amortization 307 311 335 \n Finance expense 23 22 22 \n Finance income (32 ) (37 ) (39 ) \n Income tax expense (benefit) 29 81 (7 ) \n Share-based compensation 86 63 54 \n Structural optimization 7 6 (19 ) \n Revaluation and gain on sale of equity investments (25 ) — — \n Litigation claims — — 9 \n Other acquisition related charges 25 11 2 \n Non-IFRS adjusted EBITDA ((1)) $ 587 $ 561 $ 585 \n Non-IFRS adjusted EBITDA margin ((1)) 32.9 % 34.3 % 34.7 % \n\n((1)  See \"Financial Measures (Non-IFRS)\" for further discussion on this\nNon-IFRS measure and why we believe it is useful.)\n\nGLOBALFOUNDRIES Inc.\n\nFinancial Measures (Non-IFRS)\n\nIn addition to the financial information presented in accordance with\nInternational Financial Reporting Standards (\"IFRS\"), this press release\nincludes the following Non-IFRS financial measures: Non-IFRS gross profit,\nNon-IFRS operating profit, Non-IFRS operating expense, Non-IFRS net income,\nNon-IFRS selling, general and administrative, Non-IFRS research and\ndevelopment, Non-IFRS other income (expense), Non-IFRS income tax benefit\n(expense), Non-IFRS diluted earnings per share (“EPS”), Non-IFRS adjusted\nEBITDA, Non-IFRS adjusted free cash flow, Non-IFRS total capital expenditures\nnet of proceeds from government grants, and any related margins. We define\neach of Non-IFRS gross profit, Non-IFRS selling, general and administrative,\nNon-IFRS research and development, Non-IFRS operating profit, Non-IFRS other\nincome (expense), Non-IFRS income tax benefit (expense) and Non-IFRS net\nincome as gross profit, selling, general and administrative, research and\ndevelopment, operating profit, other income (expense), income tax benefit\n(expense), and net income (loss), respectively, adjusted for share-based\ncompensation, structural optimization, amortization of acquired intangibles\nand other acquisition related charges, impairment charges, revaluation of\nequity investments, restructuring charges, litigation claims, tax matters, and\nany associated income tax effects. We define Non-IFRS operating expense as\nNon-IFRS gross profit minus Non-IFRS operating profit. We define Non-IFRS\ndiluted EPS as Non-IFRS net income divided by the diluted shares outstanding.\nWe define Non-IFRS adjusted free cash flow as cash flow provided by (used in)\noperating activities less purchases of property, plant and equipment and\nintangible assets plus proceeds from government grants related to capital\nexpenditures. We define Non-IFRS total capital expenditures net of proceeds\nfrom government grant as purchases of property, plant and equipment and\nintangible assets less proceeds of government grants. We define Non-IFRS\nadjusted EBITDA as net income adjusted for the impact of finance expense,\nfinance income, income tax expense (benefit), depreciation and amortization,\nshare-based compensation, restructuring charges, impairment charges,\nrevaluation of equity investments, structural optimization, litigation claims\nand acquisition related charges. We define each of Non-IFRS gross margin,\nNon-IFRS operating margin, Non-IFRS net income margin, Non-IFRS adjusted free\ncash flow margin and Non-IFRS adjusted EBITDA margin as Non-IFRS gross profit,\nNon-IFRS operating profit, Non-IFRS net income, Non-IFRS adjusted free cash\nflow and Non-IFRS adjusted EBITDA, respectively, divided by net revenue. Any\nadjustments described above that are zero for a given period are excluded from\nthe “Reconciliation of IFRS to Non-IFRS” table. See \"Reconciliation of\nIFRS to Non-IFRS\" section for a detailed reconciliation of Non-IFRS financial\nmeasures to the most directly comparable IFRS measure.\n\nWe believe that in addition to our results determined in accordance with IFRS,\nthese Non-IFRS financial measures provide useful information to both\nmanagement and investors in measuring our financial performance and highlight\ntrends in our business that may not otherwise be apparent when relying solely\non IFRS measures. These Non-IFRS financial measures provide supplemental\ninformation regarding our operating performance that excludes certain gains,\nlosses and non-cash charges that occur relatively infrequently and/or that we\nconsider to be unrelated to our core operations. Management believes that\nNon-IFRS adjusted free cash flow as a Non-IFRS measure is helpful to investors\nas it provides insights into the nature and amount of cash the Company\ngenerates in the period.\n\nNon-IFRS financial information is presented for supplemental informational\npurposes only and should not be considered in isolation or as a substitute for\nfinancial information presented in accordance with IFRS. Our presentation of\nNon-IFRS measures should not be construed as an inference that our future\nresults will be unaffected by unusual or nonrecurring items. Other companies\nin our industry may calculate these measures differently, which may limit\ntheir usefulness as comparative measures.\n\nConference Call and Webcast Information\n\nGF will host a conference call with the financial community on Wednesday,\nAugust 5, 2026 at 8:30 a.m. U.S. Eastern Time (ET) to review the second\nquarter 2026 results in detail. Interested parties may join the scheduled\nconference call by registering at\nhttps://edge.media-server.com/mmc/p/osibvq84/.\n\nThe call will be webcast and can be accessed from the GF Investor Relations\nwebsite https://investors.gf.com. A replay of the call will be available on\nthe GF Investor Relations website within 24 hours of the actual call.\n\nGF uses its Investor Relations website at https://investors.gf.com as a means\nof disclosing material non-public information and for complying with its\ndisclosure obligations under Regulation FD. Accordingly, investors should\nmonitor this website, in addition to following GF's press releases, Securities\nand Exchange Commission (SEC) filings, public conference calls and webcasts.\n\nAbout GlobalFoundries\n\nGlobalFoundries (GF) is a leading manufacturer of essential semiconductors,\nenabling AI at scale from the cloud to the physical world. Through deep\npartnerships with customers, GF delivers differentiated, power‑efficient and\nhigh‑performance solutions for automotive, aerospace and defense, data\ncenter, smart mobile devices, internet of things and other high‑growth\nmarkets. With global manufacturing operations across the U.S., Europe and\nAsia, GF is a trusted and holistic technology partner for customers around the\nworld. GF’s talented, global team remains focused every day on security,\nlongevity and sustainability. For more information, visit www.gf.com. © 2026\nGlobalFoundries Inc. GF®, GlobalFoundries®, the GF logos and other GF marks\nare trademarks of GlobalFoundries Inc. or its subsidiaries. All other\ntrademarks are the property of their respective owners.\n\nForward-looking Statements and Third Party Data\n\nThis press release includes “forward-looking statements” that reflect our\ncurrent expectations and views of future events. These forward-looking\nstatements are made under the \"safe harbor\" provisions of the U.S. Private\nSecurities Litigation Reform Act of 1995 and include but are not limited to,\nstatements regarding our financial outlook, future guidance, product\ndevelopment, business strategy and plans, and market trends, opportunities and\npositioning. These statements are based on current expectations, assumptions,\nestimates, forecasts, projections and limited information available at the\ntime they are made. Words such as “expect,” “anticipate,”\n“should,” “believe,” “hope,” “target,” “project,”\n“goals,” “estimate,” “potential,” “predict,” “may,”\n“will,” “might,” “could,” “intend,” “shall,” \"outlook,\"\n\"on track\" and variations of these terms or the negative of these terms and\nsimilar expressions are intended to identify these forward-looking statements,\nalthough not all forward-looking statements contain these identifying words.\nForward-looking statements are subject to a broad variety of risks and\nuncertainties, both known and unknown. Any inaccuracy in our assumptions and\nestimates could affect the realization of the expectations or forecasts in\nthese forward-looking statements. For example, our business could be impacted\nby geopolitical conditions such as the ongoing political and trade tensions\nwith China and the continuation of conflicts in the Middle East and Ukraine;\nongoing political developments in the United States, and in particular, any\npolitical and policy-related changes that may impact our industry and the\nmarket generally, such as the imposition of trade controls, tariffs and\ncounter-tariffs between the United States and its trade partners and new\nlegislation; the market for our products may develop or recover more slowly\nthan expected or than it has in the past; we may fail to achieve the full\nbenefits of our strategic optimization efforts; our operating results may\nfluctuate more than expected; there may be significant fluctuations in our\nresults of operations and cash flows related to our revenue recognition or\notherwise; a network or data security incident that allows unauthorized access\nto our network or data or our customers’ data could result in a system\ndisruption, loss of data or damage our reputation; we could experience\ninterruptions or performance problems associated with our technology,\nincluding a service outage; global economic conditions could deteriorate,\nincluding due to rising inflation and any potential recession; the expected\nbenefits of our announced partnerships may fail to materialize; and we may\nfail to achieve the anticipated results or benefits from funding received\n(including awards under the U.S. CHIPS and Science Act and New York State\nGreen CHIPS) and our expected results and planned or further expansions and\noperations may not proceed as planned if funding we expect to receive is\ndelayed or withheld for any reason. It is not possible for us to predict all\nrisks, nor can we assess the impact of all factors on our business or the\nextent to which any factor, or combination of factors, may cause actual\nresults or outcomes to differ materially from those contained in any\nforward-looking statements we may make. Moreover, we operate in a competitive\nand rapidly changing market, and new risks may emerge from time to time. You\nshould not rely upon forward-looking statements as predictions of future\nevents. These statements are based on our historical performance and on our\ncurrent plans, estimates and projections in light of information currently\navailable to us, and therefore you should not place undue reliance on them.\n\nAlthough we believe that the expectations reflected in our statements are\nreasonable, we cannot guarantee that the future results, levels of activity,\nperformance or events and circumstances described in the forward-looking\nstatements will be achieved or occur. Moreover, neither we, nor any other\nperson, assumes responsibility for the accuracy and completeness of these\nstatements. Recipients are cautioned not to place undue reliance on these\nforward-looking statements, which speak only as of the date such statements\nare made and should not be construed as statements of fact. Except to the\nextent required by federal securities laws, we undertake no obligation to\nupdate any information or any forward-looking statements as a result of new\ninformation, subsequent events or any other circumstances after the date\nhereof, or to reflect the occurrence of unanticipated events. For a discussion\nof potential risks and uncertainties, please refer to the risk factors and\ncautionary statements in our 2025 Annual Report on Form 20-F, current reports\non Form 6-K and other reports filed with the Securities and Exchange\nCommission (SEC). Copies of our SEC filings are available on our Investor\nRelations website, investors.gf.com, or from the SEC website, www.sec.gov.\n\nFor further information, please contact:\n\nInvestor Relations\nir@gf.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/8d508fc4-5eca-472a-bcd1-34f5750681d1)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-05T11:00:09.891901066Z","server_sent_at_ms":1785927609891},"received_at":"2026-08-05T11:00:09.943Z","source_url":"https://www.globenewswire.com/news-release/2026/08/05/3339162/0/en/globalfoundries-reports-second-quarter-2026-financial-results.html"},"analysis":{"id":"98237","press_release_id":"109232","analysis_json":{"industry":{"label":"Semiconductors & Semiconductor Equipment","sector":"Information Technology"},"redFlags":["IFRS diluted EPS declined year-over-year from $0.41 to $0.30","Non-IFRS adjusted free cash flow was negative at $(3) million compared to positive $277 million in the prior year"],"eventType":"earnings","narrative":"GlobalFoundries reported Q2 revenue of $1.786 billion, up 6% year-over-year, with revenue and Non-IFRS gross margin exceeding the high end of guidance ranges.\n\nThe company paid its first-ever quarterly dividend of $0.12 per share and completed the acquisitions of Photeon Technologies and Synopsys’ ARC Processor IP business.\n\nStrategically, GF signed a letter of intent for a $300 million award from the U.S. Department of Commerce for silicon photonics and expects a $375 million grant for its Quantum Technology Solutions unit.\n\nFor the third quarter, management guided to revenue of $1.885 billion plus or minus $25 million and Non-IFRS diluted EPS of $0.51 plus or minus $0.05.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"GlobalFoundries tops expectations, initiates dividend, and secures major CHIPS Act funding for photonics and quantum."},"keyFigures":{"eps":0.3,"revenue":1786000000,"guidance":"Q3 2026 revenue $1.885B +/- $25M; Non-IFRS diluted EPS $0.51 +/- $0.05","revenueYoy":"6%","customDimensions":{"doc_award":300000000,"quantum_loi":375000000,"gross_margin":"28.3%","non_ifrs_eps":0.46,"adjusted_ebitda":587000000,"operating_margin":"9.7%","dividend_per_share":0.12,"non_ifrs_gross_margin":"29.9%","adjusted_free_cash_flow":-3000000,"non_ifrs_operating_margin":"16.7%"}},"quotedText":"GF delivered strong results in the second quarter, with revenue and Non-IFRS gross margin exceeding the high end of our guidance ranges","namedEntities":{"people":[{"name":"Tim Breen","role":"CEO"}],"products":["Quantum Technology Solutions","ARC Processor IP Solutions","silicon photonics","silicon germanium technologies"],"companies":[{"name":"GlobalFoundries Inc.","ticker":"GFS"},{"name":"U.S. Department of Commerce","relationship":"funding partner"},{"name":"Photeon Technologies","relationship":"acquired"},{"name":"Synopsys","relationship":"partner"}],"dollarAmounts":[{"amount":"$1.786 billion","context":"Q2 2026 revenue"},{"amount":"$167 million","context":"Q2 2026 net income"},{"amount":"$300 million","context":"U.S. Department of Commerce award"},{"amount":"$375 million","context":"expected grant for Quantum Technology Solutions"},{"amount":"$0.12 per share","context":"quarterly cash dividend"},{"amount":"$1,885 million","context":"Q3 2026 revenue guidance"}]},"materialImpact":{"score":4,"reasoning":"Revenue and margins exceeded the high end of guidance with strong year-over-year growth. The company initiated its first dividend and secured significant government funding (CHIPS Act), signaling financial stability and strategic progress, despite a dip in IFRS EPS and negative free cash flow."},"tickerRelevance":{"others":[],"primary":"GFS"},"globalImportance":45,"audienceRelevance":50,"eventTypeSecondary":["dividend","m_and_a"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"earnings-beat-and-dividend-initiation","sectorWeight":"semiconductors"}},"event_type":"earnings","event_type_secondary":["dividend","m_and_a"],"sentiment":"bullish","material_impact_score":4,"narrative":"GlobalFoundries reported Q2 revenue of $1.786 billion, up 6% year-over-year, with revenue and Non-IFRS gross margin exceeding the high end of guidance ranges.\n\nThe company paid its first-ever quarterly dividend of $0.12 per share and completed the acquisitions of Photeon Technologies and Synopsys’ ARC Processor IP business.\n\nStrategically, GF signed a letter of intent for a $300 million award from the U.S. Department of Commerce for silicon photonics and expects a $375 million grant for its Quantum Technology Solutions unit.\n\nFor the third quarter, management guided to revenue of $1.885 billion plus or minus $25 million and Non-IFRS diluted EPS of $0.51 plus or minus $0.05.","key_figures":{"eps":0.3,"revenue":1786000000,"guidance":"Q3 2026 revenue $1.885B +/- $25M; Non-IFRS diluted EPS $0.51 +/- $0.05","revenueYoy":"6%","customDimensions":{"doc_award":300000000,"quantum_loi":375000000,"gross_margin":"28.3%","non_ifrs_eps":0.46,"adjusted_ebitda":587000000,"operating_margin":"9.7%","dividend_per_share":0.12,"non_ifrs_gross_margin":"29.9%","adjusted_free_cash_flow":-3000000,"non_ifrs_operating_margin":"16.7%"}},"named_entities":{"people":[{"name":"Tim Breen","role":"CEO"}],"products":["Quantum Technology Solutions","ARC Processor IP Solutions","silicon photonics","silicon germanium technologies"],"companies":[{"name":"GlobalFoundries Inc.","ticker":"GFS"},{"name":"U.S. Department of Commerce","relationship":"funding partner"},{"name":"Photeon Technologies","relationship":"acquired"},{"name":"Synopsys","relationship":"partner"}],"dollarAmounts":[{"amount":"$1.786 billion","context":"Q2 2026 revenue"},{"amount":"$167 million","context":"Q2 2026 net income"},{"amount":"$300 million","context":"U.S. Department of Commerce award"},{"amount":"$375 million","context":"expected grant for Quantum Technology Solutions"},{"amount":"$0.12 per share","context":"quarterly cash dividend"},{"amount":"$1,885 million","context":"Q3 2026 revenue guidance"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-05T13:52:54.272Z","global_importance":45,"audience_relevance":50,"importance_components":{"tickerTier":"mid-cap","eventGravity":"earnings-beat-and-dividend-initiation","sectorWeight":"semiconductors"}},"durationMs":374541,"modelName":"glm-4.7"}}