v3.26.3
REVENUE
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Revenue Recognition
Products
Substantially all of Qnity’s revenue is derived from product sales. Product sales consist of sales of Qnity’s products to supply manufacturers and distributors. Qnity considers purchase orders, which in some cases are governed by master supply agreements, to be a contract with a customer. Contracts with customers are considered to be short-term when the time between order confirmation and satisfaction of the performance obligations is equal to or less than one year.

Net sales to Samsung Electronics Co., Ltd accounted for 10% and 11% of total net sales for the three months ended September 30, 2026 and 2025, respectively, and 10% of total net sales for the nine months ended September 30, 2026 and 2025. Additionally, net sales to Taiwan Semiconductor Manufacturing Company Limited (TSMC) accounted for 10% and 8% of total net sales for the three months ended September 30, 2026 and 2025, respectively, and 10% and 8% of total net sales for the nine months ended September 30, 2026 and 2025, respectively. The majority of revenues for both customers relate to the Semiconductor Technologies segment.

Disaggregation of Revenue
The Company disaggregates its revenue from contracts with customers by segment and geographic region, as the Company believes it best depicts the nature, amount, timing and uncertainty of its revenue and cash flows.
Net Sales by SegmentThree Months Ended
 September 30,		Nine Months Ended
September 30,
In millions2026202520262025
Semiconductor Technologies$797 $693 $2,262 $1,981 
Interconnect Solutions759 583 2,038 1,583 
Total$1,556 $1,276 $4,300 $3,564 
Net Sales by Segment by Geographic RegionThree Months Ended
 September 30,
20262025
Semiconductor TechnologiesInterconnect SolutionsTotalSemiconductor TechnologiesInterconnect SolutionsTotal
In millions
Americas:$92 $118 $210 $78 $90 $168 
United States92 97 189 77 81 158 
Other Americas 1
— 21 21 1 9 10 
EMEA 2
55 50 105 57 49 106 
Asia Pacific:650 591 1,241 558 444 1,002 
China214 325 539 171 226 397 
Rest of Asia Pacific:436 266 702 387 218 605 
South Korea179 34 213 166 30 196 
Taiwan168 72 240 142 54 196 
Other89 160 249 79 134 213 
Total$797 $759 $1,556 $693 $583 $1,276 
Net Sales by Segment by Geographic RegionNine Months Ended
September 30,
20262025
Semiconductor TechnologiesInterconnect SolutionsTotalSemiconductor TechnologiesInterconnect SolutionsTotal
In millions
Americas:$254 $312 $566 $220 $252 $472 
United States253 269 522 218 227 445 
Other Americas 1
1 43 44 2 25 27 
EMEA 2
161 151 312 157 136 293 
Asia Pacific:1,847 1,575 3,422 1,604 1,195 2,799 
China614 838 1,452 545 636 1,181 
Rest of Asia Pacific:1,233 737 1,970 1,059 559 1,618 
South Korea514 95 609 453 80 533 
Taiwan475 191 666 397 133 530 
Other244 451 695 209 346 555 
Total$2,262 $2,038 $4,300 $1,981 $1,583 $3,564 
1.Includes Canada and Latin America.
2.Europe, Middle East and Africa.

Contract Balances
From time to time, the Company enters into arrangements in which it receives payments from customers based upon contractual billing schedules. The Company records accounts receivables when the right to consideration becomes unconditional. Contract liabilities primarily reflect deferred revenue from advance payment for product that the Company has received from customers. The Company classifies deferred revenue as current or noncurrent based on the timing of when the Company expects to recognize revenue.

Revenue recognized from amounts included in contract liabilities at the beginning of the period was insignificant for the three and nine months ended September 30, 2026 and 2025. The Company did not recognize any asset impairment charges related to contract assets during the periods. The Company will begin recognizing its deferred revenue when the project associated with the revenue that was deferred is completed and commercial production begins, currently expected in 2027.
Contract BalancesSeptember 30, 2026December 31, 2025
In millions
Accounts receivable - trade 1
$839 $656 
Deferred revenue - current 2
$2 $1 
Deferred revenue - noncurrent 3
$43 $46 
1.Included in "Accounts and notes receivable - net" in the interim Condensed Consolidated Balance Sheets.
2.Included in "Accrued and other current liabilities" in the interim Condensed Consolidated Balance Sheets.
3.Included in "Other noncurrent obligations" in the interim Condensed Consolidated Balance Sheets.