Universal Display reported its financial results for Q3 2021. Revenues were a record $143.6 million, up from $117.1 million in Q3 2020 and net profit was $46.1 million (up from $40.5 million from Q3 2020). The company has about $789 million in cash and equivalents, the it reiterates its full-year 2021 revenue guidance to be between $530 million and $560 million.
Regarding its blue PHOLED R&D effort, UDC says it is making "excellent progress", and the company believes that a commercial blue material is a question of when and not if.
UDC also reports that it extended its long-term commercial agreement with Tianma.
UDC reports that plasmon PHOLED materials are now one of its primary R&D programs. This is still a research project, but the company believes that it has the potential to increase device lifetime by up to 10 times, while doubling the efficiency. This could have a dramatic effect on the OLED market.
Regarding the OVJP project, UDC now says that its OVJP team consists of about 50 people, and it continues the development, with the next task of demonstrating the viability of this process for large-area panel production. UDC says that the commercial launch of OVJP systems is still a few years away, though.
