Seagate Technology Holdings plc

“Seagate is a leading provider of mass-capacity data storage, accelerating the world’s ability to harness the full value of data.”

“We design and manufacture HDDs, storage systems and related solutions serving two principal end markets”

“To support demand planning and supply predictability for certain products, particularly high-capacity nearline drives, we work with key customers to establish longer-term demand forecasts and supply commitments, including provisions for cancellation charges in certain circumstances.”

“Revenues by Channel (%) OEMs81 %80 % Distributors13 %12 % Retailers6 %8 %”

“We are dependent on sales to distributors and retailers, which may increase price erosion and the volatility of our sales.”

“Our Data Center portfolio includes high-capacity HDDs of up to 44TB and storage systems of up to 3.5PB.”

“Our Edge IoT portfolio includes storage products ranging from 1TB to 32TB”

“As part of our launch of the Mozaic hard drive platform, we are transitioning to key areal density recording technologies that use HAMR technology to increase HDD capacities.”

“Revenues by Geography (%) (1) Americas50 %49 % Asia Pacific40 %41 % EMEA10 %10 %”

“Revenues by Market (%) Data Center80 %75 % Edge IoT20 %25 %”

“Revenue$12,195 $9,097 $6,551”

“Certain rare earth elements are also critical in the manufacture of our products. Many of these rare earth elements are sourced from China, which accounts for a majority of the global supply and processing capacity for these materials.”

“Our product production requires commodities and specialty materials, including certain rare earth elements, precious metals and specialized alloys, which may be subject to supply constraints or price volatility.”

“Component manufacturing, subassembly and final test and assembly operations are performed at facilities in China, Malaysia, Northern Ireland, Singapore, Thailand and the United States.”

“We rely on sole or a limited number of direct and indirect suppliers for some or all of these components and rare earth elements that we do not manufacture, including substrates for recording media, read/write heads, ASICs, preamplifiers, spindle motors, printed circuit boards, suspension assemblies, DRAM and NAND flash memory.”

“We design and manufacture many of the critical technologies incorporated into our HDD products, including read/write heads, magnetic recording media and other core components.”

“Acquisition of property, equipment and leasehold improvements(569)(265)(254)”

“our Mozaic platform, which incorporates our unique implementation of heat-assisted magnetic recording ("HAMR") technology, advanced magnetic recording with proprietary photonics”

“Our global competitors include HDD manufacturers such as Western Digital Corporation and Toshiba Electronics Devices & Storage Corporation along with NAND flash suppliers”

“Growth was led by data center end markets in which we experienced sustained demand for our high capacity nearline drives across global cloud customers, as well as increasing sales for enterprise edge deployments.”

“the global datasphere is expected to grow at a compound annual growth rate of approximately 27% through 2030, reaching around 718 zettabytes annually.”

“Our primary R&D facilities are in Northern Ireland, Singapore, Thailand and the United States.”

“we believe the structural changes that we have made to the business, including executing our pricing strategy and maintaining supply discipline, together with the long-term customer engagements we have in place provide greater visibility into future demand trends.”

“We reduced our outstanding debt by $1.4 billion through exchanges of our 2028 Notes for total consideration of $1.3 billion cash and approximately 12.6 million of our ordinary shares as well as repurchases of Senior Notes.”

“We are leveraged and require significant amounts of cash to service our outstanding indebtedness. Our business may not generate sufficient cash flows to enable us to meet our liquidity requirements, including working capital, capital expenditures, product development efforts, investments, servicing our indebtedness and other general corporate requirements.”

“We generated revenue of approximately $12.2 billion with a gross margin of 46% and net income of $3.2 billion.”

“fiscal year 2026 comprised of 53 weeks and ended on July 3, 2026. Fiscal year 2025 comprised of 52 weeks and ended on June 27, 2025.”

“Revenue in fiscal year 2026 increased approximately 34%, or $3.1 billion, from fiscal year 2025, primarily due to an increase in nearline exabytes shipped reflecting higher demand for nearline products and favorable pricing actions undertaken by the Company.”

“an increase of $575 million in accounts receivable, primarily due to increased revenue;”

“Accumulated deficit(5,911)(8,151) Total Shareholders’ Equity (Deficit)2,167 (453)”

“Cash and cash equivalents$1,704 $891 Accounts receivable, net1,534 959 Inventories, net1,571 1,440”

“Legal settlement105 — —”

“es tariffs on certain non-U.S. goods, including information and communication technology products. These and any new measures may materially increase costs for goods imported from key jurisdictions into the United States.”

“We have a long and unpredictable sales cycle for nearline storage solutions, which impairs our ability to accurately predict our financial and operating results in any period”

“Changes in U.S. trade policy, including the imposition of sanctions or tariffs and the resulting consequences, may have a material and adverse impact on our business and results of operations.”

“any current or potential future export restrictions or bans by the Chinese government, as well as any import restrictions or bans by the U.S. government, on rare earth minerals could materially and adversely impact our supply chain continuity and operating results.”

“Litigation and government investigations or other proceedings are subject to inherent risks and uncertainties that may cause an outcome to differ materially from our expectations and may result in us being required to pay substantial damages, fines or penalties”

“We are frequently involved in significant and expensive disputes regarding our intellectual property rights and those of others, including claims that we may be infringing patents, trademarks and other intellectual property rights of third parties.”

“Our business and some of our products rely on or include intellectual property licensed from third parties, including open source licenses.”

“Cybersecurity threats, vulnerabilities, and other security events affecting our systems, products, or data, or those of our vendors, suppliers, customers, or other third parties, could have a material adverse effect on our business, financial condition, and results of operations.”

“From time to time, we enter into long-term, non-cancelable purchase commitments or make large up-front investments with certain suppliers to secure certain components or technologies”

“Some of our products and services are subject to export control laws and other laws affecting the countries in which our products and services may be sold, distributed, or delivered”

“shifts in demand related to emerging technologies, including artificial intelligence, all of which may have a material and adverse effect on the demand for our products and/or result in significant changes in our product prices.”