0001140361-25-008608 | 10-Q | XBRL Viewer

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COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	3 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Feb. 02, 2025 USD ($)
COMMITMENTS AND CONTINGENCIES [Abstract]
Minimum remaining term of plant and equipment	1 year
Outstanding commitments for capital expenditure	$ 82.8

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Feb. 02, 2025	Jan. 28, 2024
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 58,257	$ 39,082
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(42,917)	31,493
Other	70	(27)
Net other comprehensive (loss) income	(42,847)	31,466
Comprehensive income	15,410	70,548
Less: comprehensive income attributable to noncontrolling interests	6,566	23,497
Comprehensive income attributable to Photronics, Inc. shareholders	$ 8,844	$ 47,051

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

NATURE OF BUSINESS AND BASIS OF PRESENTATION (Policies)	3 Months Ended
NATURE OF BUSINESS AND BASIS OF PRESENTATION (Policies)	Feb. 02, 2025
NATURE OF BUSINESS AND BASIS OF PRESENTATION [Abstract]
Basis of Presentation	Basis of Presentation The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect amounts reported in them. The Company’s estimates are based on historical experience and on various assumptions that the Company believes to be reasonable under the facts and circumstances at the time they are made. Subsequent actual results may differ from such estimates. The Company reviews these estimates periodically and reflects any effects of revisions in the period in which they are determined.
Principles of Consolidation	Principles of Consolidation The accompanying unaudited condensed consolidated financial statements (“the financial statements”) have been prepared in accordance with U.S. GAAP for interim financial information, and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, adjustments, all of which are of a normal recurring nature, considered necessary for a fair presentation have been included. The financial statements include the accounts of Photronics, its wholly owned subsidiaries, and the majority-owned subsidiaries, which it controls. All intercompany balances and transactions have been eliminated in consolidation. These financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Form 10-K for the fiscal year ended October 31, 2024, where the Company discusses and provides additional information about the Company’s accounting policies and the methods and assumptions used in the Company’s estimates. The Company’s business is typically impacted during the first quarter of the Company’s fiscal year by the North American, European, and Asian holiday periods, as some customers reduce their development and buying activities during this period. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the fiscal year ending October 31, 2025.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”) and in January 2025, the FASB issued ASU No. 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, which clarified the effective date of ASU 2024-03. ASU 2024-03 will require the Company to disclose the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization, as applicable, as well as qualitatively describe remaining amounts included in those captions. The guidance in this Update will be effective for Photronics in its fiscal year 2028 Form 10-K, with early application of the amendments allowed. The Company is currently evaluating the effect the adoption of this ASU may have on the Company’s disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this Update relate to the rate reconciliation and income taxes paid disclosures to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The guidance in this Update will be effective for Photronics in its fiscal year 2026 Form 10-K, with early application of the amendments allowed. The Company is currently evaluating the effect the adoption of this ASU may have on the Company’s disclosures. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance in this Update is effective for Photronics in its fiscal year 2025 Form 10-K, with early adoption permitted. The Company is currently evaluating the effect the adoption of this ASU may have on the Company’s disclosures.

DEBT (Tables)

3 Months Ended

Feb. 02, 2025

DEBT [Abstract]

Long-term Debt

The balance of the long-term debt and its current portion were comprised of the following finance leases as described below:

		February 2, 2025	October 31, 2024
Principal due:
Next 12 months	$	2,631	$	17,972
Months 13 – 24	$	11	$	12
Months 25 – 36		10		12
Months 37 – 48		-		1
Months 49 – 60		-		-
Long-term debt		21		25
Total debt	$	2,652	$	17,997

Interest rate at balance sheet date		N/A		N/A
Basis spread on interest rates		N/A		N/A
Interest rate reset		N/A		N/A
Maturity date		N/A		N/A
Periodic payment amount		Varies as Lease matures		Varies as Lease matures
Periodic payment frequency		Monthly		Monthly
Loan collateral (carrying amount)⁽¹⁾	$	5,225	$	32,293

⁽¹⁾

Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

INCOME TAXES (Tables)

3 Months Ended

Feb. 02, 2025

INCOME TAXES [Abstract]

Reconciliation of Effective Income Tax Rates from U.S. Statutory Tax Rates

The table below sets forth the primary reasons that the Company’s effective income tax rates differed from the U.S. statutory tax rates in effect during the three-month periods ended February 2, 2025, and January 28, 2024.

Reporting Period	U.S. Statutory Tax Rates		Photronics Effective Tax Rates		Primary Reasons for Differences

Three months ended February 2, 2025		21.0%		24.5%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Three months ended January 28, 2024		21.0%		27.3%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Unrecognized Tax Benefits

The table below presents information on our unrecognized tax benefits as of the balance sheet dates.

	February 2, 2025		October 31, 2024
Unrecognized tax benefits related to uncertain tax positions	$	16,616	$	14,720
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	16,616	$	14,720
Accrued interest and penalties related to uncertain tax positions	$	1,174	$	1,028

CASH, CASH EQUIVALENTS AND INVESTMENTS (Details) - USD ($)
$ in Thousands

Feb. 02, 2025

Oct. 31, 2024

Jan. 28, 2024

Oct. 31, 2023

Assets, Fair Value Disclosure [Abstract]

Cash and cash equivalents

$ 642,200

$ 598,485

Short-term investments

42,184

Total Fair Value

642,200

640,669

Restricted Cash

2,674

^[1]

2,758

^[1]

$ 2,797

Cash, cash equivalents, and restricted cash

$ 644,874

601,243

$ 511,315

$ 501,867

Maturity of time deposits

12 months

Unrealized gains (losses) of short-term investments

$ 0

Cash [Member]

Assets, Fair Value Disclosure [Abstract]

Cash and cash equivalents

207,590

414,074

Short-term investments

Total Fair Value

207,590

414,074

Level 1 [Member] | Money Market Funds [Member]

Assets, Fair Value Disclosure [Abstract]

Cash and cash equivalents

91,740

36,322

Short-term investments

Total Fair Value

91,740

36,322

Level 2 [Member] | Time Deposits [Member]

Assets, Fair Value Disclosure [Abstract]

Cash and cash equivalents

342,870

148,089

Short-term investments

42,184

^[2]

Total Fair Value

$ 342,870

$ 190,273

[1]	Restricted cash is included in other current assets and primarily relates to land lease agreements and customs requirements.
[2]	Matured during the first quarter of 2025.

REVENUE (Tables)

3 Months Ended

Feb. 02, 2025

REVENUE [Abstract]

Contract Balances

The following table provides information about the Company’s contract balances at the balance sheet dates.

Classification	February 2, 2025		October 31, 2024
Contract Assets
Other current assets	$	11,819	$	11,532

Contract Liabilities
Accrued liabilities	$	10,887	$	12,375
Other liabilities		7,813		8,910
	$	18,700	$	21,285

The Company did not recognize any revenue from performance obligations satisfied in the previous periods. The following table presents revenue recognized from contract liabilities that existed at the beginning of the reporting periods.

	Three Months Ended
	February 2, 2025		January 28, 2024
Revenue recognized from beginning liability	$	4,369	$	5,507

Disaggregation of Revenue

The following tables present the Company’s revenue for the three-month periods ended February 2, 2025, and January 28, 2024, disaggregated by product type, geographic origin, and timing of recognition.

	Three Months Ended
Revenue by Product Type	February 2, 2025		January 28, 2024
IC
High-end	$	60,105	$	60,875
Mainstream		93,851		96,714
Total IC	$	153,956	$	157,589

FPD
High-end	$	49,679	$	50,616
Mainstream		8,503		8,129
Total FPD	$	58,182	$	58,745
	$	212,138	$	216,334

	Three Months Ended
	February 2, 2025		January 28, 2024
Revenue by Geographic Origin*
Taiwan	$	73,035	$	74,965
China		53,558		58,137
South Korea		40,237		40,335
United States		36,898		32,733
Europe		7,940		9,705
Other		470		459
	$	212,138	$	216,334

* This table disaggregates revenue by the location in which it was earned.

	Three Months Ended
	February 2,		January 28,
Revenue by Timing of Recognition	2025		2024
Over time	$	205,076	$	203,527
At a point in time		7,062		12,807
		212,138		216,334

INCOME TAXES

3 Months Ended

Feb. 02, 2025

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 10 - INCOME TAXES

The Company calculates its provision for income taxes at the end of each interim reporting period on the basis of an estimated annual effective tax rate adjusted for tax items that are discrete to each period. The table below sets forth the primary reasons that the Company’s effective income tax rates differed from the U.S. statutory tax rates in effect during the three-month periods ended February 2, 2025, and January 28, 2024.

Reporting Period	U.S. Statutory Tax Rates		Photronics Effective Tax Rates		Primary Reasons for Differences

Three months ended February 2, 2025		21.0%		24.5%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Three months ended January 28, 2024		21.0%		27.3%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Uncertain Tax Positions

Although the timing of reversal of uncertain tax positions may be uncertain, as they can be dependent upon the settlement of tax audits, we believe that the amount of uncertain tax positions (including interest and penalties, and net of tax benefits) that may be resolved over the next twelve months is immaterial. Resolution of these uncertain tax positions may result from either or both the lapses of statutes of limitations and tax settlements. We are no longer subject to tax authority examinations in the U.S., major foreign, or state tax jurisdictions for years prior to fiscal year 2019. The table below presents information on our unrecognized tax benefits as of the balance sheet dates.

	February 2, 2025		October 31, 2024
Unrecognized tax benefits related to uncertain tax positions	$	16,616	$	14,720
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	16,616	$	14,720
Accrued interest and penalties related to uncertain tax positions	$	1,174	$	1,028

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Feb. 02, 2025

SHARE-BASED COMPENSATION [Abstract]

Share-based Compensation Expenses

The table below presents information on the Company’s share-based compensation expenses.

	Three Months Ended
	February 2, 2025		January 28, 2024
Expense reported in:
Cost of goods sold	$	776	$	595
Selling, general, and administrative		2,268		1,749
Research and development		290		229
Total expense incurred	$	3,334	$	2,573

Expense by award type:
Restricted stock awards	$	3,277	$	2,573
Employee stock purchase plan		57		-
Total expense incurred	$	3,334	$	2,573

Income tax benefits on share-based compensation	$	446	$	99

Restricted Stock Awards Activity

The table below presents information on the Company’s restricted stock awards.

	Three Months Ended
	February 2, 2025		January 28, 2024
Number of shares granted in period		345,500		825,050
Weighted-average grant-date fair value of awards (in dollars per share)	$	23.82	$	29.77
Compensation cost not yet recognized	$	25,786	$	31,426
Weighted-average amortization period for cost not yet recognized (in years)		3.0		3.3
Shares outstanding at balance sheet date		1,256,697		1,634,315

Stock Options Activity

The table below presents information on the Company’s stock options.

	Three Months Ended
	February 2, 2025		January 28, 2024
Number of options granted in period		-		-
Cash received from options exercised	$	1,272	$	936
Compensation cost not yet recognized	$	-	$	-
Weighted-average amortization period for cost not yet recognized (in years)		-		-

Outstanding and Exercisable Option

Information regarding outstanding and exercisable option awards as of February 2, 2025, is presented below.

Options		Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (in years)				Aggregate Intrinsic Value
Outstanding and exercisable at February 2, 2025			150,325			$	10.73				2.05			$	1,843

INSIDER TRADING ARRANGEMENTS shares in Thousands	3 Months Ended
INSIDER TRADING ARRANGEMENTS shares in Thousands	Feb. 02, 2025 shares
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Mitchell G. Tyson [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On December 19, 2024, Mitchell G. Tyson, a member of our Board of Directors, adopted a Rule 10b5-1 trading arrangement (the “Tyson Plan”) providing for the sale of an aggregate of up to 30,000 shares of our common stock granted to Mr. Tyson under our compensation program. The first date any shares are permitted to be sold under the Tyson Plan is April 1, 2025 and the last day shares are permitted to be sold under the Tyson Plan is November 28, 2025.
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	December 19, 2024
Name	Mitchell G. Tyson
Title	member of our Board of Directors
Aggregate Available	30,000
Arrangement Duration	103 days
Expiration Date	November 28, 2025
Christopher J. Progler [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On December 23, 2024, Christopher J. Progler, Ph.D., our Executive Vice President and Chief Technology Officer, adopted a Rule 10b5-1 trading arrangement (the “Progler Plan”) providing for the sale of an aggregate of up to 40,000 shares of our common stock granted to Dr. Progler under our compensation program. The first date any shares are permitted to be sold under the Progler Plan is March 24, 2025 and the last day shares are permitted to be sold under the Progler Plan is December 31, 2025.
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	December 23, 2024
Name	Christopher J. Progler
Title	Executive Vice President and Chief Technology Officer
Aggregate Available	40,000
Arrangement Duration	91 days
Expiration Date	December 31, 2025

INVENTORIES

3 Months Ended

Feb. 02, 2025

INVENTORIES [Abstract]

INVENTORIES

NOTE 4 - INVENTORIES

The components of Inventories at the balance sheet dates are presented below.

	February 2, 2025		October 31, 2024
Raw materials	$	55,725	$	56,128
Work in process		1,856		398
Finished goods		2		1
	$	57,583	$	56,527

EARNINGS PER SHARE (Tables)

3 Months Ended

Feb. 02, 2025

EARNINGS PER SHARE [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following sets forth the computation of basic and diluted earnings per share:

	Three Months Ended
	February 2, 2025		January 28, 2024
Net income attributable to Photronics, Inc. shareholders	$	42,851	$	26,180

Weighted-average common shares outstanding (in thousands):
Basic		62,093		61,455
Effect of dilutive securities:
Share-based awards		568		828
Dilutive common shares		568		828

Weighted-average common shares - Diluted		62,661		62,283

Earnings per share attributable to Photronics, Inc. shareholders:
Basic	$	0.69	$	0.43
Diluted	$	0.68	$	0.42

Outstanding Securities Excluded from Calculation of Diluted Earnings or Loss Per Share

The table below illustrates the outstanding weighted-average share-based awards that were excluded from the calculation of diluted earnings per share because their exercise price exceeded the average market value of the common shares for the period or, under application of the treasury stock method, they were otherwise determined to be antidilutive.

	Three Months Ended
	February 2, 2025		January 28, 2024
Share-based awards		488		241
Total potentially dilutive shares excluded		488		241

CASH, CASH EQUIVALENTS AND INVESTMENTS

3 Months Ended

Feb. 02, 2025

CASH, CASH EQUIVALENTS AND INVESTMENTS [Abstract]

CASH, CASH EQUIVALENTS AND INVESTMENTS

NOTE 3 – CASH, CASH EQUIVALENTS AND INVESTMENTS

The Company invests excess cash primarily in bank time deposits and money market funds. The Company’s classification of investments is as follows:

-	Maturing within three months or less from the date of purchase	Cash and cash equivalents
-	Maturing, as of the date of purchase, more than three months, but with remaining maturities of less than one year, from the balance sheet date	Short-term investments
-	Maturing one year or more from the balance sheet date	Long-term marketable investments

The accounting framework for determining fair value includes a hierarchy for ranking the quality and reliability of the information used to measure fair value, which enables the reader of the financial statements to assess the inputs used to develop those measurements. The fair value hierarchy consists of three tiers as follows:

Level 1- These are investments where values are based on unadjusted quoted prices for identical assets in an active market the Company has the ability to access.

Level 2- These are investments where values are based on quoted market prices that are not active or model derived valuations in which all significant inputs are observable in active markets.

Level 3- These are investments where values are derived from techniques in which one or more significant inputs are unobservable.

The following are cash, cash equivalents and investments measured at fair value:

	February 2, 2025						October 31, 2024
	Cash and cash equivalents		Short-term investments		Total Fair Value		Cash and cash equivalents		Short-term investments			Total Fair Value
Cash	$	207,590	$	-	$	207,590	$	414,074	$	-		$	414,074
Level 1
Money market funds		91,740		-		91,740		36,322		-			36,322
Level 2
Time deposits		342,870		-		342,870		148,089		42,184	⁽¹⁾		190,273
	$	642,200	$	-	$	642,200	$	598,485	$	42,184		$	640,669
Restricted Cash⁽²⁾		2,674						2,758
Cash, cash equivalents, and restricted cash	$	644,874					$	601,243

⁽¹⁾ Matured during the first quarter of 2025.

⁽²⁾ Restricted cash is included in other current assets and primarily relates to land lease agreements and customs requirements.

Based upon the Company’s intent and ability to hold its time deposits to maturity (which maturities range up to twelve months at purchase), such securities have been classified as held-to-maturity and are carried at amortized cost, which approximates market value. In the event of a sale of these securities, the Company would determine the cost of the investment sold at the specific individual security level and would include any gain or loss in Interest income and other income, net, where the Company also reports periodic interest earned and the amortization (accretion) of discounts (premiums) related to these investments. For the periods ended February 2, 2025 and October 31, 2024, the Company did not have any unrealized gains or losses related to short-term investments.

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 02, 2025	Jan. 28, 2024	Oct. 31, 2024
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 2,304,386		$ 2,319,357
Accumulated depreciation and amortization	(1,554,577)		(1,574,100)
Property, plant and equipment, net	749,809		745,257
Finance lease, Right-of-use asset [Abstract]
Finance lease, right-of-use asset, gross	7,253		42,815
Accumulated amortization	(2,028)		(10,522)
Finance lease, right-of-use asset, net	5,225		32,293
Depreciation Expense [Abstract]
Depreciation Expense	20,702	$ 20,605
Land [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	11,144		11,419
Buildings and Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	185,482		188,756
Machinery and Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	1,991,605		1,990,610
Leasehold Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	19,048		19,268
Furniture, Fixtures and Office Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	17,619		18,091
Construction in Progress [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 79,488		$ 91,213

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 02, 2025	Jan. 28, 2024
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	$ 1,120,864
Ending Balance	1,127,749
Accumulated Other Comprehensive Income [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(86,319)	$ (88,734)
Ending Balance	(120,325)	(67,863)
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(85,587)	(88,044)
Ending Balance	(119,629)	(67,160)
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(732)	(690)
Ending Balance	(696)	(703)
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income	(42,847)	31,466
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income	(42,917)	31,493
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income	70	(27)
AOCI Attributable to Noncontrolling Interest [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income attributable to noncontrolling interests	8,841	(10,595)
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income attributable to noncontrolling interests	8,875	(10,609)
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income attributable to noncontrolling interests	$ (34)	$ 14

PDMCX JOINT VENTURE

3 Months Ended

Feb. 02, 2025

PDMCX JOINT VENTURE [Abstract]

PDMCX JOINT VENTURE

NOTE 6 - PDMCX JOINT VENTURE

In January 2018, Photronics, Inc., through its wholly owned Photronics Singapore PTE. LTD. subsidiary (hereinafter, within this Note “we”, “Photronics”, “us”, or “our”), and DNP, through its wholly owned subsidiary “DNP Asia Pacific PTE, Ltd.”, entered into a joint venture under which DNP obtained a 49.99% interest in the Company’s IC business in Xiamen, China. The joint venture, which the Company refers to as “PDMCX”, was established to develop and manufacture photomasks for semiconductors. The Company entered into this joint venture to enable the Company to compete more effectively for the merchant photomask business in China, and to benefit from the additional resources and investment that DNP provides to enable the Company to offer advanced-process technology to the Company’s customers.

Under the joint venture agreement, should either Photronics’ or DNP’s ownership interest fall below 20.0% for a period of more than six consecutive months, such party (an “exiting party”) has the option to sell to the other party, and the other party has the option to purchase from such exiting party, the exiting party’s remaining ownership interest. In either case, the sales of ownership interests would be at the exiting party’s ownership percentage of the joint venture’s net book value, with closing to take place within three business days of obtaining required approvals and clearance.

The following table presents net income the Company recorded from the operations of PDMCX during the reporting periods.

	Three Months Ended
	February 2, 2025		January 28, 2024
Net income from PDMCX	$	3,368	$	6,463

As required by the guidance in ASC Topic 810 - “Consolidation”, the Company evaluated the Company’s involvement in PDMCX for the purpose of determining whether the Company should consolidate its results in the Company’s financial statements. The initial step of the Company’s evaluation was to determine whether PDMCX was a VIE. Due to its lack of sufficient equity at risk to finance its activities without additional subordinated financial support, the Company determined that it is a VIE. Having made this determination, the Company then assessed whether the Company was the primary beneficiary of the VIE and concluded that the Company was the primary beneficiary during the current and prior years reporting periods; thus, as required, the PDMCX financial results have been consolidated with Photronics. The Company’s conclusion was based on the fact that the Company held a controlling financial interest in PDMCX (which resulted from the Company’s having the power to direct the activities that most significantly impacted its economic performance) and had both the obligation to absorb losses and the right to receive benefits that could potentially be significant to PDMCX. The Company’s conclusion that the Company had the power to direct the activities that most significantly affected the economic performance of PDMCX during the current and prior year periods were based on the Company’s right to appoint the majority of its Board of Directors, which has, among others, the powers to manage the business (through its rights to appoint and evaluate PDMCX’s management), incur indebtedness, enter into agreements and commitments, and acquire and dispose of PDMCX’s assets. In addition, as a result of the 50.01% variable interest the Company held during the current and prior year periods, the Company had the obligation to absorb losses, and the right to receive benefits, which could potentially be significant to PDMCX.

The following table presents the carrying amounts of PDMCX assets and liabilities included in the Company’s consolidated balance sheets. General creditors of PDMCX do not have recourse to the assets of Photronics (other than the net assets of PDMCX); therefore, the Company’s maximum exposure to loss from PDMCX is the Company’s interest in the carrying amount of the net assets of the joint venture.

	February 2, 2025				October 31, 2024
Classification	Carrying Amount		Photronics Interest		Carrying Amount		Photronics Interest
Current assets	$	180,319	$	90,178	$	174,059	$	87,047
Noncurrent assets		146,679		73,354		151,039		75,535
Total assets		326,998		163,532		325,098		162,582

Current liabilities		40,215		20,112		40,691		20,350
Noncurrent liabilities		3,266		1,633		3,320		1,660
Total liabilities		43,481		21,745		44,011		22,010

Net assets	$	283,517	$	141,787	$	281,087	$	140,572

PDMCX JOINT VENTURE, Carrying Amounts of Assets and Liabilities (Details) - USD ($) $ in Thousands	Feb. 02, 2025	Oct. 31, 2024
Carrying Amounts of Assets and Liabilities [Abstract]
Current assets	$ 920,834	$ 931,062
Total assets	1,704,671	1,712,059
Current liabilities	162,643	183,811
Total liabilities	210,462	231,300
Carrying Amount [Member]
Carrying Amounts of Assets and Liabilities [Abstract]
Current assets	180,319	174,059
Noncurrent assets	146,679	151,039
Total assets	326,998	325,098
Current liabilities	40,215	40,691
Noncurrent liabilities	3,266	3,320
Total liabilities	43,481	44,011
Net assets	283,517	281,087
Photronics Interest [Member]
Carrying Amounts of Assets and Liabilities [Abstract]
Current assets	90,178	87,047
Noncurrent assets	73,354	75,535
Total assets	163,532	162,582
Current liabilities	20,112	20,350
Noncurrent liabilities	1,633	1,660
Total liabilities	21,745	22,010
Net assets	$ 141,787	$ 140,572

PDMCX JOINT VENTURE (Tables)

3 Months Ended

Feb. 02, 2025

PDMCX JOINT VENTURE [Abstract]

Net Income Recorded from Operations

The following table presents net income the Company recorded from the operations of PDMCX during the reporting periods.

	Three Months Ended
	February 2, 2025		January 28, 2024
Net income from PDMCX	$	3,368	$	6,463

Carrying Amounts and Exposure to Loss Related to Assets and Liabilities

	February 2, 2025				October 31, 2024
Classification	Carrying Amount		Photronics Interest		Carrying Amount		Photronics Interest
Current assets	$	180,319	$	90,178	$	174,059	$	87,047
Noncurrent assets		146,679		73,354		151,039		75,535
Total assets		326,998		163,532		325,098		162,582

Current liabilities		40,215		20,112		40,691		20,350
Noncurrent liabilities		3,266		1,633		3,320		1,660
Total liabilities		43,481		21,745		44,011		22,010

Net assets	$	283,517	$	141,787	$	281,087	$	140,572

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Feb. 02, 2025	Oct. 31, 2024
Current assets:
Accounts receivable, allowance	$ 1,104	$ 1,126
Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000	2,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000	150,000
Common stock, shares issued (in shares)	62,303	61,949
Common stock, shares outstanding (in shares)	62,303	61,949

INVENTORIES (Tables)

3 Months Ended

Feb. 02, 2025

INVENTORIES [Abstract]

Inventories

The components of Inventories at the balance sheet dates are presented below.

	February 2, 2025		October 31, 2024
Raw materials	$	55,725	$	56,128
Work in process		1,856		398
Finished goods		2		1
	$	57,583	$	56,527

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Feb. 02, 2025
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 12 - COMMITMENTS AND CONTINGENCIES As of February 2, 2025, the Company’s unrecognized unconditional purchase obligations, which are mainly payments for the acquisition of property, plant and equipment, with a remaining term in excess of one year was approximately $82.8 million, primarily for purchases of high-end equipment. This amount does not include the Company’s commitments under the Company’s debt and lease arrangements. The Company is subject to various other claims that arise in the ordinary course of business. The Company believes that the Company’s potential liability under such claims, individually or in the aggregate, will not have a material effect on the Company’s consolidated financial statements.

EARNINGS PER SHARE

3 Months Ended

Feb. 02, 2025

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 11 - EARNINGS PER SHARE

The following sets forth the computation of basic and diluted earnings per share:

	Three Months Ended
	February 2, 2025		January 28, 2024
Net income attributable to Photronics, Inc. shareholders	$	42,851	$	26,180

Weighted-average common shares outstanding (in thousands):
Basic		62,093		61,455
Effect of dilutive securities:
Share-based awards		568		828
Dilutive common shares		568		828

Weighted-average common shares - Diluted		62,661		62,283

Earnings per share attributable to Photronics, Inc. shareholders:
Basic	$	0.69	$	0.43
Diluted	$	0.68	$	0.42

	Three Months Ended
	February 2, 2025		January 28, 2024
Share-based awards		488		241
Total potentially dilutive shares excluded		488		241

DEBT, Long-term Debt (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Feb. 02, 2025

Oct. 31, 2024

Long-term Debt [Abstract]

Long-term debt

$ 21

$ 25

Finance Leases [Member]

Long Term Debt Maturing In Year One [Abstract]

Next 12 months

2,631

17,972

Long-term Debt [Abstract]

$ 2,652

$ 17,997

Periodic payment amount

Varies as Lease matures

Periodic payment frequency

Monthly

Loan collateral (carrying amount)

^[1]

$ 5,225

$ 32,293

[1]	Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

ACCOUNTS RECEIVABLE, NET (Tables)

3 Months Ended

Feb. 02, 2025

ACCOUNTS RECEIVABLE, NET [Abstract]

Accounts Receivable, Net

The components of Accounts Receivable, net at the balance sheet dates are presented below.

	February 2,			October 31,
	2025			2024
Accounts Receivable	$	149,711		$	172,741
Unbilled Receivable		39,831			29,215
Allowance for Credit Losses		(1,104	)		(1,126	)
	$	188,438		$	200,830

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT

3 Months Ended

Feb. 02, 2025

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT [Abstract]

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT

NOTE 13 - CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT

The following tables set forth the changes in the Company’s accumulated other comprehensive (loss) income by component (net of tax) for the three-month periods ended February 2, 2025, and January 28, 2024.

	Three Months Ended February 2, 2025
	Foreign Currency Translation Adjustments			Other			Total

Balance at October 31, 2024	$	(85,587	)	$	(732	)	$	(86,319	)
Other comprehensive (loss) income		(42,917	)		70			(42,847	)
Other comprehensive income (loss) attributable to noncontrolling interests		8,875			(34	)		8,841

Balance at February 2, 2025	$	(119,629	)	$	(696	)	$	(120,325	)

	Three Months Ended January 28, 2024
	Foreign Currency Translation Adjustments			Other			Total

Balance at October 31, 2023	$	(88,044	)	$	(690	)	$	(88,734	)
Other comprehensive (loss) income		31,493			(27	)		31,466
Other comprehensive (loss) income attributable to noncontrolling interests		(10,609	)		14			(10,595	)

Balance at January 28, 2024	$	(67,160	)	$	(703	)	$	(67,863	)

NATURE OF BUSINESS AND BASIS OF PRESENTATION (Details)	3 Months Ended
NATURE OF BUSINESS AND BASIS OF PRESENTATION (Details)	Feb. 02, 2025 Facility
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	11
Taiwan [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	3
South Korea [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	1
China [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	2
United States [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	3
Europe [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	2

DEBT

3 Months Ended

Feb. 02, 2025

DEBT [Abstract]

DEBT

NOTE 7 - DEBT

The balance of the long-term debt and its current portion were comprised of the following finance leases as described below:

		February 2, 2025	October 31, 2024
Principal due:
Next 12 months	$	2,631	$	17,972
Months 13 – 24	$	11	$	12
Months 25 – 36		10		12
Months 37 – 48		-		1
Months 49 – 60		-		-
Long-term debt		21		25
Total debt	$	2,652	$	17,997

Interest rate at balance sheet date		N/A		N/A
Basis spread on interest rates		N/A		N/A
Interest rate reset		N/A		N/A
Maturity date		N/A		N/A
Periodic payment amount		Varies as Lease matures		Varies as Lease matures
Periodic payment frequency		Monthly		Monthly
Loan collateral (carrying amount)⁽¹⁾	$	5,225	$	32,293

⁽¹⁾

Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

Finance Leases

In February 2021, the Company entered into a five-year $7.2 million finance lease for a high-end inspection tool. Monthly payments on the lease, which commenced in February 2021, are $0.1 million per month. Upon the payment of the fiftieth monthly payment and prior to payment of the fifty-first monthly payment, the Company may exercise an early buyout option to purchase the tool for $2.4 million. After the original term or any renewal periods, the Company may return the tool, elect to extend the lease, or purchase the tool at its fair market value. Management has determined that the Company will exercise its early buyout option during the first half of 2025.

In December 2020, the Company entered into a five-year $35.5 million finance lease for a high-end lithography tool. Monthly payments on the lease, which commenced in January 2021, increased from $0.04 million during the first three months to $0.6 million for the following nine months, followed by forty-eight monthly payments of $0.5 million. The lease agreement provides an early buyout option to purchase the tool for $14.1 million, which the Company exercised during the first quarter of fiscal year 2025.

Xiamen Working Capital Loans

In November 2018, PDMCX obtained approval for revolving, unsecured credit of CNY 200 million ($25 million), pursuant to which PDMCX may enter into separate loan agreements with varying terms to maturity. In December 2022, the Company repaid the Company’s entire outstanding balance of CNY 25.6 million ($3.6 million). The interest rates are variable, based on the CNY Loan Prime Rate of the National Interbank Funding Center. Interest incurred on the loans related to the amount borrowed was eligible for reimbursement through incentives provided by the Xiamen Torch Hi-Tech Industrial Development Zone, which provided for such reimbursements up to a prescribed limit and duration. This facility is subject to annual reviews and extensions. In August 2024, the Company was issued an extension to the revolving, unsecured credit agreement for CNY 200 million (approximately $27.7 million) with an expiration date of July 31, 2025. As of February 2, 2025, PDMCX had no outstanding borrowings against the approval.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

ACCOUNTS RECEIVABLE, NET

3 Months Ended

Feb. 02, 2025

ACCOUNTS RECEIVABLE, NET [Abstract]

ACCOUNTS RECEIVABLE, NET

NOTE 2 – ACCOUNTS RECEIVABLE, NET

The components of Accounts Receivable, net at the balance sheet dates are presented below.

	February 2,			October 31,
	2025			2024
Accounts Receivable	$	149,711		$	172,741
Unbilled Receivable		39,831			29,215
Allowance for Credit Losses		(1,104	)		(1,126	)
	$	188,438		$	200,830

REVENUE, Disaggregation of Revenue (Details) - USD ($)
$ in Thousands

3 Months Ended

Feb. 02, 2025

Jan. 28, 2024

Disaggregation of Revenue [Abstract]

Revenue

^[1]

$ 212,138

$ 216,334

IC [Member]

Disaggregation of Revenue [Abstract]

Revenue

153,956

157,589

High-end [Member]

Disaggregation of Revenue [Abstract]

Revenue

60,105

60,875

Mainstream [Member]

Disaggregation of Revenue [Abstract]

Revenue

93,851

96,714

FPD [Member]

Disaggregation of Revenue [Abstract]

Revenue

58,182

58,745

High-end [Member]

Disaggregation of Revenue [Abstract]

Revenue

49,679

50,616

Mainstream [Member]

Disaggregation of Revenue [Abstract]

Revenue

8,503

8,129

Taiwan [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

73,035

74,965

China [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

53,558

58,137

South Korea [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

40,237

40,335

United States [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

36,898

32,733

Europe [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

7,940

9,705

Other [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

470

459

Over Time [Member]

Disaggregation of Revenue [Abstract]

Revenue

205,076

203,527

At a Point in Time [Member]

Disaggregation of Revenue [Abstract]

Revenue

$ 7,062

$ 12,807

[1]	This table disaggregates revenue by the location in which it was earned.

NATURE OF BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
NATURE OF BUSINESS AND BASIS OF PRESENTATION	Feb. 02, 2025
NATURE OF BUSINESS AND BASIS OF PRESENTATION [Abstract]
NATURE OF BUSINESS AND BASIS OF PRESENTATION	NOTE 1 – NATURE OF BUSINESS AND BASIS OF PRESENTATION Description of Business Photronics, Inc. (“Photronics”, “the Company”, “we”, “our”, or “us”) 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. Photomasks are a key element in the manufacture of ICs and FPDs and are used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of ICs, a variety of FPDs and, to a lesser extent, other types of electrical and optical components. The Company operates eleven manufacturing facilities, which are located in Taiwan (3), South Korea (1), China (2), the United States (3), and Europe (2). Basis of Presentation The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect amounts reported in them. The Company’s estimates are based on historical experience and on various assumptions that the Company believes to be reasonable under the facts and circumstances at the time they are made. Subsequent actual results may differ from such estimates. The Company reviews these estimates periodically and reflects any effects of revisions in the period in which they are determined. Principles of Consolidation The accompanying unaudited condensed consolidated financial statements (“the financial statements”) have been prepared in accordance with U.S. GAAP for interim financial information, and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, adjustments, all of which are of a normal recurring nature, considered necessary for a fair presentation have been included. The financial statements include the accounts of Photronics, its wholly owned subsidiaries, and the majority-owned subsidiaries, which it controls. All intercompany balances and transactions have been eliminated in consolidation. These financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Form 10-K for the fiscal year ended October 31, 2024, where the Company discusses and provides additional information about the Company’s accounting policies and the methods and assumptions used in the Company’s estimates. The Company’s business is typically impacted during the first quarter of the Company’s fiscal year by the North American, European, and Asian holiday periods, as some customers reduce their development and buying activities during this period. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the fiscal year ending October 31, 2025. Recent Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”) and in January 2025, the FASB issued ASU No. 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, which clarified the effective date of ASU 2024-03. ASU 2024-03 will require the Company to disclose the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization, as applicable, as well as qualitatively describe remaining amounts included in those captions. The guidance in this Update will be effective for Photronics in its fiscal year 2028 Form 10-K, with early application of the amendments allowed. The Company is currently evaluating the effect the adoption of this ASU may have on the Company’s disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this Update relate to the rate reconciliation and income taxes paid disclosures to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The guidance in this Update will be effective for Photronics in its fiscal year 2026 Form 10-K, with early application of the amendments allowed. The Company is currently evaluating the effect the adoption of this ASU may have on the Company’s disclosures. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance in this Update is effective for Photronics in its fiscal year 2025 Form 10-K, with early adoption permitted. The Company is currently evaluating the effect the adoption of this ASU may have on the Company’s disclosures.

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

3 Months Ended

Feb. 02, 2025

PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]

Components of Property, Plant and Equipment, Net

Presented below are the components of Property, plant and equipment, net at the balance sheet dates.

	February 2, 2025			October 31, 2024
Land	$	11,144		$	11,419
Buildings and improvements		185,482			188,756
Machinery and equipment		1,991,605			1,990,610
Leasehold improvements		19,048			19,268
Furniture, fixtures, and office equipment		17,619			18,091
Construction in progress		79,488			91,213
		2,304,386			2,319,357
Accumulated depreciation and amortization		(1,554,577	)		(1,574,100	)
	$	749,809		$	745,257

Information on ROU Assets from Finance Leases

Information on ROU assets resulting from finance leases, at the balance sheet dates, is presented below. During the first quarter of 2025, the Company exercised its early buy-out option of one of the leased assets. Please refer to Note 7 for further information.

	February 2, 2025			October 31, 2024
Machinery and equipment	$	7,253		$	42,815
Accumulated amortization		(2,028	)		(10,522	)
	$	5,225		$	32,293

Depreciation Expense

The following table presents depreciation expense (including the amortization of ROU assets), related to property, plant and equipment incurred during the reporting periods.

	Three Months Ended
	February 2, 2025			January 28, 2024
Depreciation Expense		$	20,702		$	20,605

PDMCX JOINT VENTURE (Policies)	3 Months Ended
PDMCX JOINT VENTURE (Policies)	Feb. 02, 2025
PDMCX JOINT VENTURE [Abstract]
Variable Interest Entities	As required by the guidance in ASC Topic 810 - “Consolidation”, the Company evaluated the Company’s involvement in PDMCX for the purpose of determining whether the Company should consolidate its results in the Company’s financial statements. The initial step of the Company’s evaluation was to determine whether PDMCX was a VIE. Due to its lack of sufficient equity at risk to finance its activities without additional subordinated financial support, the Company determined that it is a VIE. Having made this determination, the Company then assessed whether the Company was the primary beneficiary of the VIE and concluded that the Company was the primary beneficiary during the current and prior years reporting periods; thus, as required, the PDMCX financial results have been consolidated with Photronics. The Company’s conclusion was based on the fact that the Company held a controlling financial interest in PDMCX (which resulted from the Company’s having the power to direct the activities that most significantly impacted its economic performance) and had both the obligation to absorb losses and the right to receive benefits that could potentially be significant to PDMCX. The Company’s conclusion that the Company had the power to direct the activities that most significantly affected the economic performance of PDMCX during the current and prior year periods were based on the Company’s right to appoint the majority of its Board of Directors, which has, among others, the powers to manage the business (through its rights to appoint and evaluate PDMCX’s management), incur indebtedness, enter into agreements and commitments, and acquire and dispose of PDMCX’s assets. In addition, as a result of the 50.01% variable interest the Company held during the current and prior year periods, the Company had the obligation to absorb losses, and the right to receive benefits, which could potentially be significant to PDMCX.

INVENTORIES (Details) - USD ($) $ in Thousands	Feb. 02, 2025	Oct. 31, 2024
INVENTORIES [Abstract]
Raw materials	$ 55,725	$ 56,128
Work in process	1,856	398
Finished goods	2	1
Inventories	$ 57,583	$ 56,527

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Feb. 02, 2025	Mar. 06, 2025
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Feb. 02, 2025
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	0-15451
Entity Registrant Name	PHOTRONICS, INC.
Entity Central Index Key	0000810136
Entity Incorporation, State or Country Code	CT
Entity Tax Identification Number	06-0854886
Entity Address, Address Line One	15 Secor Road
Entity Address, City or Town	Brookfield
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06804
City Area Code	203
Local Phone Number	775-9000
Title of 12(b) Security	COMMON STOCK
Trading Symbol	PLAB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,561,709

PROPERTY, PLANT AND EQUIPMENT, NET

3 Months Ended

Feb. 02, 2025

PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 5 - PROPERTY, PLANT AND EQUIPMENT, NET

Presented below are the components of Property, plant and equipment, net at the balance sheet dates.

	February 2, 2025			October 31, 2024
Land	$	11,144		$	11,419
Buildings and improvements		185,482			188,756
Machinery and equipment		1,991,605			1,990,610
Leasehold improvements		19,048			19,268
Furniture, fixtures, and office equipment		17,619			18,091
Construction in progress		79,488			91,213
		2,304,386			2,319,357
Accumulated depreciation and amortization		(1,554,577	)		(1,574,100	)
	$	749,809		$	745,257

	February 2, 2025			October 31, 2024
Machinery and equipment	$	7,253		$	42,815
Accumulated amortization		(2,028	)		(10,522	)
	$	5,225		$	32,293

The following table presents depreciation expense (including the amortization of ROU assets), related to property, plant and equipment incurred during the reporting periods.

	Three Months Ended
	February 2, 2025			January 28, 2024
Depreciation Expense		$	20,702		$	20,605

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Feb. 02, 2025	Jan. 28, 2024	Oct. 31, 2024
Effective Income and Statutory Tax Rates [Abstract]
U.S. statutory tax rates	21.00%	21.00%
Effective tax rates	24.50%	27.30%
Income Tax Examination [Abstract]
Earliest open tax year	2019
Unrecognized Tax Benefits [Abstract]
Unrecognized tax benefits related to uncertain tax positions	$ 16,616		$ 14,720
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	16,616		14,720
Accrued interest and penalties related to uncertain tax positions	$ 1,174		$ 1,028

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 02, 2025	Oct. 31, 2024
Current assets:
Cash and cash equivalents	$ 642,200	$ 598,485
Short-term investments	0	42,184
Accounts receivable, net of allowance of $1,104 in 2025 and $1,126 in 2024	188,438	200,830
Inventories	57,583	56,527
Other current assets	32,613	33,036
Total current assets	920,834	931,062
Property, plant and equipment, net	749,809	745,257
Deferred income taxes	19,338	23,059
Other assets	14,690	12,681
Total assets	1,704,671	1,712,059
Current liabilities:
Current portion of long-term debt	2,631	17,972
Accounts payable	85,936	78,717
Accrued liabilities	74,076	87,122
Total current liabilities	162,643	183,811
Long-term debt	21	25
Other liabilities	47,798	47,464
Total liabilities	210,462	231,300
Commitments and contingencies (Note 12)
Equity:
Preferred stock, $0.01 par value, 2,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value, 150,000 shares authorized, 62,303 shares issued and outstanding as of February 2, 2025, and 61,949 shares issued and outstanding as of October 31, 2024	623	619
Additional paid-in capital	515,742	514,757
Retained earnings	731,709	691,807
Accumulated other comprehensive loss	(120,325)	(86,319)
Total Photronics, Inc. shareholders' equity	1,127,749	1,120,864
Noncontrolling interests	366,460	359,895
Total equity	1,494,209	1,480,759
Total liabilities and equity	$ 1,704,671	$ 1,712,059

REVENUE (Policies)	3 Months Ended
REVENUE (Policies)	Feb. 02, 2025
REVENUE [Abstract]
Revenue	The Company recognizes revenue when, or as, control of a good or service transfers to a customer, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring those goods or services. The Company accounts for an arrangement as a revenue contract when each party has approved and is committed to perform under the contract, the rights of the contracting parties regarding the goods or services to be transferred and the payment terms are identifiable, the arrangement has commercial substance, and collection of consideration is probable. Substantially all of the Company’s revenue comes from the sales of photomasks. The Company typically contracts with the Company’s customers to sell sets of photomasks, which are comprised of multiple layers, the predominance of which the Company invoices as they ship to customers. As the photomasks are manufactured to customer specifications, they have no alternative use to the Company and, as the Company’s contracts generally provide the Company with the right to payment for work completed to date, the Company recognizes revenue as the Company performs, or “over time,” on most of the Company’s contracts. The Company measures the Company’s performance to date using an input method, which is based on the Company’s estimated costs to complete the various manufacturing phases of a photomask. At the end of a reporting period, there are a number of uncompleted revenue contracts on which the Company has performed; for any such contracts under which the Company is entitled to be compensated for the Company’s costs incurred plus a reasonable profit, the Company recognizes revenue and a corresponding contract asset for such performance. The Company accounts for shipping and handling activities that the Company performs after a customer obtains control of a good as being activities to fulfill the Company’s promise to transfer the good to the customer, rather than as promised services, or performance obligations, under the contract. The Company reports the Company’s revenue net of any sales or similar taxes the Company collects on behalf of governmental entities. As stated above, photomasks are manufactured to customer specifications in accordance with their proprietary designs; thus, they are individually unique. Due to their uniqueness and other factors, their transaction prices are individually established through negotiations with customers; consequently, the Company’s photomasks do not have standard or “list” prices. The transaction prices of the vast majority of the Company’s revenue contracts include only fixed amounts of consideration. In certain instances, such as when the Company offers a customer an early payment discount, an estimate of variable consideration would be included in the transaction price, but only to the extent that a significant reversal of revenue would not occur when the uncertainty related to the variability was resolved. Contract Assets and Contract Liabilities The Company recognizes a contract asset when the Company’s performance under a contract precedes the Company’s receipt of consideration from a customer, or before payment is due, and the Company’s receipt of consideration is conditional upon factors other than the passage of time. Contract assets reflect the Company’s transfer of control to customers of photomasks that are in process or completed but not yet shipped to customers. A receivable is recognized when the Company has an unconditional right to payment for the Company’s performance, which generally occurs when the Company ships the photomasks. The Company’s contract assets primarily consist of a significant amount of the Company’s in-process production orders and fully manufactured photomasks which have not yet shipped, for which the Company has an enforceable right to collect consideration (including a reasonable profit) in the event the in-process orders are cancelled by customers. On an individual contract basis, the Company nets contract assets with contract liabilities (deferred revenue) for financial reporting purposes. The Company’s net credit losses on accounts receivable during the periods ended February 2, 2025 and January 28, 2024 were immaterial. The Company did not impair any contract assets or accounts receivable during the three-month periods ended February 2, 2025, or January 28, 2024. The Company generally records accounts receivable at their billed amounts. All outstanding past due customer invoices are reviewed for collectability during, and at the end of, every reporting period. To the extent the Company believes a loss on the collection of a customer invoice is probable, the Company would record the loss and credit an allowance for credit losses. In the event that an amount is determined to be uncollectible, the Company charges the allowance for credit losses and derecognizes the related receivable. The Company did not incur any credit losses on the Company’s accounts receivable during the three-month periods ended February 2, 2025, or January 28, 2024. The Company’s invoice terms generally range from net thirty to ninety days, depending on both the geographic market in which the transaction occurs and the Company’s payment agreements with specific customers. In the event that the Company’s evaluation of a customer’s business prospects, and financial condition indicate that the customer presents a collectability risk, the Company will modify terms of sale, which may require payment in advance of performance. At the time of adoption, the Company elected the practical expedient allowed under ASC Topic 606 “Revenue from Contracts with Customers” (“Topic 606”) that permits the Company not to adjust a contract’s promised amount of consideration to reflect a financing component when the period between when the Company transfers control of goods or services to customers and when the Company is paid is one year or less. In instances when the Company is paid in advance of the Company’s performance, the Company records a contract liability and, as allowed under the practical expedient in Topic 606, recognizes interest expense only if the period between when the Company receives payment from the customer and the date when the Company expects to be entitled to the payment is greater than one year. Historically, advance payments the Company has received from customers have generally not preceded the completion of the Company’s performance obligations by more than one year.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

SHARE-BASED COMPENSATION

3 Months Ended

Feb. 02, 2025

SHARE-BASED COMPENSATION [Abstract]

SHARE-BASED COMPENSATION

NOTE 9 - SHARE-BASED COMPENSATION

In March 2016, shareholders approved the Company’s current equity incentive compensation plan (the “Plan”), under which incentive stock options, non-qualified stock options, stock grants, stock-based awards, restricted stock, restricted stock units, stock appreciation rights, performance units, performance stock, and other stock or cash awards may be granted. Shares to be issued under the Plan may be authorized and unissued shares, issued shares that have been reacquired by the Company (in the open market or in private transactions), or a combination thereof. The original maximum number of shares of common stock approved that may be issued under the Plan was four million shares. On March 16, 2023, at its annual meeting of shareholders, the shareholders of Photronics, Inc., approved amendments to the Plan to increase the number of shares available for issuance by an additional one million shares, thereby increasing the shares available for issuance under the Plan from four million to five million. Awards may be granted to officers, employees, directors, consultants, advisors, and independent contractors of Photronics or its subsidiaries. In the event of a change in control (as defined in the Plan), the vesting of awards may be accelerated. The Plan prohibits further awards from being issued under prior plans. The table below presents information on the Company’s share-based compensation expenses.

	Three Months Ended
	February 2, 2025		January 28, 2024
Expense reported in:
Cost of goods sold	$	776	$	595
Selling, general, and administrative		2,268		1,749
Research and development		290		229
Total expense incurred	$	3,334	$	2,573

Expense by award type:
Restricted stock awards	$	3,277	$	2,573
Employee stock purchase plan		57		-
Total expense incurred	$	3,334	$	2,573

Income tax benefits on share-based compensation	$	446	$	99

Restricted Stock Awards

The Company periodically grants restricted stock awards, the restrictions on which typically lapse over a service period of one to four years. The fair value of the awards is determined on the date of grant, based on the closing price of the Company’s common stock. The table below presents information on the Company’s restricted stock awards.

	Three Months Ended
	February 2, 2025		January 28, 2024
Number of shares granted in period		345,500		825,050
Weighted-average grant-date fair value of awards (in dollars per share)	$	23.82	$	29.77
Compensation cost not yet recognized	$	25,786	$	31,426
Weighted-average amortization period for cost not yet recognized (in years)		3.0		3.3
Shares outstanding at balance sheet date		1,256,697		1,634,315

Stock Options

Option awards generally vest in one to four years and have a ten-year contractual term. All incentive and non-qualified stock option grants must have an exercise price no less than the market value of the underlying common stock on the date of grant. The grant-date fair values of options are based on closing prices of the Company’s common stock on the dates of grant and are calculated using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of the Company’s common stock. The Company uses historical option exercise behavior and employee termination data to estimate expected term, which represents the period of time that options are expected to remain outstanding. The risk-free rate of return for the estimated term of an option is based on the U.S. Treasury yield curve in effect at the date of grant. The table below presents information on the Company’s stock options.

	Three Months Ended
	February 2, 2025		January 28, 2024
Number of options granted in period		-		-
Cash received from options exercised	$	1,272	$	936
Compensation cost not yet recognized	$	-	$	-
Weighted-average amortization period for cost not yet recognized (in years)		-		-

Information regarding outstanding and exercisable option awards as of February 2, 2025, is presented below.

Options		Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (in years)				Aggregate Intrinsic Value
Outstanding and exercisable at February 2, 2025			150,325			$	10.73				2.05			$	1,843

Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

Feb. 02, 2025

Jan. 28, 2024

Condensed Consolidated Statements of Income [Abstract]

Revenue

^[1]

$ 212,138

$ 216,334

Cost of goods sold

136,603

137,079

Gross profit

75,535

79,255

Operating expenses:

Selling, general, and administrative

19,101

18,321

Research and development

4,257

3,445

Total operating expenses

23,358

21,766

Operating income

52,177

57,489

Other income (expense):

Foreign currency transactions impact, net

18,443

(8,908)

Interest income and other income, net

6,585

5,251

Interest expense

(47)

(90)

Income before income tax provision

77,158

53,742

Income tax provision

18,901

14,660

Net income

58,257

39,082

Net income attributable to noncontrolling interests

15,406

12,902

Net income attributable to Photronics, Inc. shareholders

$ 42,851

$ 26,180

Earnings per share attributable to Photronics, Inc. shareholders:

Basic (in dollars per share)

$ 0.69

$ 0.43

Diluted (in dollars per share)

$ 0.68

$ 0.42

Weighted-average number of common shares outstanding:

Basic (in shares)

62,093

61,455

Diluted (in shares)

62,661

62,283

[1]	This table disaggregates revenue by the location in which it was earned.

PDMCX JOINT VENTURE, VIE (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
PDMCX JOINT VENTURE, VIE (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Feb. 02, 2025	Jan. 28, 2024
Photronics and DNP [Member]
Variable Interest Entity [Abstract]
Period before put or purchase option can be exercised		6 months
Number of business days for obtaining required approvals and clearance for exiting party		3 days
Net Income from Operations [Abstract]
Net income from PDMCX		$ 3,368	$ 6,463
Photronics and DNP [Member] \| Minimum [Member]
Variable Interest Entity [Abstract]
Ownership percentage		20.00%
Photronics Interest [Member]
Variable Interest Entity [Abstract]
Ownership percentage		50.01%
DNP [Member]
Variable Interest Entity [Abstract]
Ownership percentage	49.99%

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT (Tables)

3 Months Ended

Feb. 02, 2025

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT [Abstract]

Changes in Accumulated Other Comprehensive (Loss) Income by Component

	Three Months Ended February 2, 2025
	Foreign Currency Translation Adjustments			Other			Total

Balance at October 31, 2024	$	(85,587	)	$	(732	)	$	(86,319	)
Other comprehensive (loss) income		(42,917	)		70			(42,847	)
Other comprehensive income (loss) attributable to noncontrolling interests		8,875			(34	)		8,841

Balance at February 2, 2025	$	(119,629	)	$	(696	)	$	(120,325	)

	Three Months Ended January 28, 2024
	Foreign Currency Translation Adjustments			Other			Total

Balance at October 31, 2023	$	(88,044	)	$	(690	)	$	(88,734	)
Other comprehensive (loss) income		31,493			(27	)		31,466
Other comprehensive (loss) income attributable to noncontrolling interests		(10,609	)		14			(10,595	)

Balance at January 28, 2024	$	(67,160	)	$	(703	)	$	(67,863	)

SHARE-BASED COMPENSATION (Policies)	3 Months Ended
SHARE-BASED COMPENSATION (Policies)	Feb. 02, 2025
Restricted Stock [Member]
Stock Options [Abstract]
Share-Based Compensation	Restricted Stock Awards The Company periodically grants restricted stock awards, the restrictions on which typically lapse over a service period of one to four years. The fair value of the awards is determined on the date of grant, based on the closing price of the Company’s common stock. The table below presents information on the Company’s restricted stock awards.
Employee Stock Option [Member]
Stock Options [Abstract]
Share-Based Compensation	Stock Options Option awards generally vest in one to four years and have a ten-year contractual term. All incentive and non-qualified stock option grants must have an exercise price no less than the market value of the underlying common stock on the date of grant. The grant-date fair values of options are based on closing prices of the Company’s common stock on the dates of grant and are calculated using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of the Company’s common stock. The Company uses historical option exercise behavior and employee termination data to estimate expected term, which represents the period of time that options are expected to remain outstanding. The risk-free rate of return for the estimated term of an option is based on the U.S. Treasury yield curve in effect at the date of grant. The table below presents information on the Company’s stock options.

- Definition

Disclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost.

+ References

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-Section 50
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

REVENUE

3 Months Ended

Feb. 02, 2025

REVENUE [Abstract]

REVENUE

NOTE 8 - REVENUE

The Company recognizes revenue when, or as, control of a good or service transfers to a customer, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring those goods or services. The Company accounts for an arrangement as a revenue contract when each party has approved and is committed to perform under the contract, the rights of the contracting parties regarding the goods or services to be transferred and the payment terms are identifiable, the arrangement has commercial substance, and collection of consideration is probable. Substantially all of the Company’s revenue comes from the sales of photomasks. The Company typically contracts with the Company’s customers to sell sets of photomasks, which are comprised of multiple layers, the predominance of which the Company invoices as they ship to customers. As the photomasks are manufactured to customer specifications, they have no alternative use to the Company and, as the Company’s contracts generally provide the Company with the right to payment for work completed to date, the Company recognizes revenue as the Company performs, or “over time,” on most of the Company’s contracts. The Company measures the Company’s performance to date using an input method, which is based on the Company’s estimated costs to complete the various manufacturing phases of a photomask. At the end of a reporting period, there are a number of uncompleted revenue contracts on which the Company has performed; for any such contracts under which the Company is entitled to be compensated for the Company’s costs incurred plus a reasonable profit, the Company recognizes revenue and a corresponding contract asset for such performance. The Company accounts for shipping and handling activities that the Company performs after a customer obtains control of a good as being activities to fulfill the Company’s promise to transfer the good to the customer, rather than as promised services, or performance obligations, under the contract. The Company reports the Company’s revenue net of any sales or similar taxes the Company collects on behalf of governmental entities.

As stated above, photomasks are manufactured to customer specifications in accordance with their proprietary designs; thus, they are individually unique. Due to their uniqueness and other factors, their transaction prices are individually established through negotiations with customers; consequently, the Company’s photomasks do not have standard or “list” prices. The transaction prices of the vast majority of the Company’s revenue contracts include only fixed amounts of consideration. In certain instances, such as when the Company offers a customer an early payment discount, an estimate of variable consideration would be included in the transaction price, but only to the extent that a significant reversal of revenue would not occur when the uncertainty related to the variability was resolved.

Contract Assets and Contract Liabilities

The Company recognizes a contract asset when the Company’s performance under a contract precedes the Company’s receipt of consideration from a customer, or before payment is due, and the Company’s receipt of consideration is conditional upon factors other than the passage of time. Contract assets reflect the Company’s transfer of control to customers of photomasks that are in process or completed but not yet shipped to customers. A receivable is recognized when the Company has an unconditional right to payment for the Company’s performance, which generally occurs when the Company ships the photomasks. The Company’s contract assets primarily consist of a significant amount of the Company’s in-process production orders and fully manufactured photomasks which have not yet shipped, for which the Company has an enforceable right to collect consideration (including a reasonable profit) in the event the in-process orders are cancelled by customers. On an individual contract basis, the Company nets contract assets with contract liabilities (deferred revenue) for financial reporting purposes. The Company’s net credit losses on accounts receivable during the periods ended February 2, 2025 and January 28, 2024 were immaterial. The Company did not impair any contract assets or accounts receivable during the three-month periods ended February 2, 2025, or January 28, 2024.

The following table provides information about the Company’s contract balances at the balance sheet dates.

Classification	February 2, 2025		October 31, 2024
Contract Assets
Other current assets	$	11,819	$	11,532

Contract Liabilities
Accrued liabilities	$	10,887	$	12,375
Other liabilities		7,813		8,910
	$	18,700	$	21,285

	Three Months Ended
	February 2, 2025		January 28, 2024
Revenue recognized from beginning liability	$	4,369	$	5,507

The Company generally records accounts receivable at their billed amounts. All outstanding past due customer invoices are reviewed for collectability during, and at the end of, every reporting period. To the extent the Company believes a loss on the collection of a customer invoice is probable, the Company would record the loss and credit an allowance for credit losses. In the event that an amount is determined to be uncollectible, the Company charges the allowance for credit losses and derecognizes the related receivable. The Company did not incur any credit losses on the Company’s accounts receivable during the three-month periods ended February 2, 2025, or January 28, 2024.

The Company’s invoice terms generally range from net thirty to ninety days, depending on both the geographic market in which the transaction occurs and the Company’s payment agreements with specific customers. In the event that the Company’s evaluation of a customer’s business prospects, and financial condition indicate that the customer presents a collectability risk, the Company will modify terms of sale, which may require payment in advance of performance. At the time of adoption, the Company elected the practical expedient allowed under ASC Topic 606 “Revenue from Contracts with Customers” (“Topic 606”) that permits the Company not to adjust a contract’s promised amount of consideration to reflect a financing component when the period between when the Company transfers control of goods or services to customers and when the Company is paid is one year or less.

In instances when the Company is paid in advance of the Company’s performance, the Company records a contract liability and, as allowed under the practical expedient in Topic 606, recognizes interest expense only if the period between when the Company receives payment from the customer and the date when the Company expects to be entitled to the payment is greater than one year. Historically, advance payments the Company has received from customers have generally not preceded the completion of the Company’s performance obligations by more than one year.

Disaggregation of Revenue

	Three Months Ended
Revenue by Product Type	February 2, 2025		January 28, 2024
IC
High-end	$	60,105	$	60,875
Mainstream		93,851		96,714
Total IC	$	153,956	$	157,589

FPD
High-end	$	49,679	$	50,616
Mainstream		8,503		8,129
Total FPD	$	58,182	$	58,745
	$	212,138	$	216,334

	Three Months Ended
	February 2, 2025		January 28, 2024
Revenue by Geographic Origin*
Taiwan	$	73,035	$	74,965
China		53,558		58,137
South Korea		40,237		40,335
United States		36,898		32,733
Europe		7,940		9,705
Other		470		459
	$	212,138	$	216,334

* This table disaggregates revenue by the location in which it was earned.

	Three Months Ended
	February 2,		January 28,
Revenue by Timing of Recognition	2025		2024
Over time	$	205,076	$	203,527
At a point in time		7,062		12,807
		212,138		216,334

Contract Costs

The Company pays commissions to third-party sales agents for certain sales they procure on the Company’s behalf. However, the bases of the commissions are the transaction prices of the sales, which are completed in less than one year; thus, no relationship is established with a customer that will result in future business. Therefore, the Company does not recognize any portion of these sales commissions as costs of obtaining a contract, nor does the Company currently foresee other circumstances under which the Company would recognize contract obtainment costs as assets.

Remaining Performance Obligations

As the Company is typically required to fulfill customer orders within a short time period, the Company’s backlog of orders is generally not in excess of one to two weeks for IC photomasks and two to three weeks for FPD photomasks. However, the demand for some IC photomasks can extend beyond the traditional time period; thus, the backlog, in some individual cases, can extend to as long as two to three months. More recently however, backlogs for most high demand products have returned to historical levels of less than a month. As allowed under ASC 606 – Revenue Contracts with Customers, the Company has elected not to disclose the Company’s remaining performance obligations, which represent the costs associated with the completion of the manufacturing process of in-process photomasks related to contracts that have an original duration of one year or less.

Product Warranties

The Company’s photomasks are sold under warranties that generally range from one to twenty-four months. The Company warrants that the Company’s photomasks conform to customer specifications, and the Company will typically repair, replace, or issue a refund for any photomasks that fail to do so. The warranties do not represent separate performance obligations in the Company’s revenue contracts. Historically, customer claims under warranties have been immaterial.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-controlling Interests [Member]	Total
Balance at Oct. 31, 2023	$ 613	$ 502,010	$ 561,119	$ (88,734)	$ 300,601	$ 1,275,609
Balance (in shares) at Oct. 31, 2023	61,310
Net income	$ 0	0	26,180	0	12,902	39,082
Other comprehensive income (loss)	0	0	0	20,871	10,595	31,466
Shares issued under equity plans	$ 4	(1,680)	0	0	0	(1,676)
Shares issued under equity plans (in shares)	436
Share-based compensation expense	$ 0	2,573	0	0	0	2,573
Balance at Jan. 28, 2024	$ 617	502,903	587,299	(67,863)	324,098	1,347,054
Balance (in shares) at Jan. 28, 2024	61,746
Balance at Oct. 31, 2024	$ 619	514,757	691,807	(86,319)	359,895	1,480,759
Balance (in shares) at Oct. 31, 2024	61,949
Net income	$ 0	0	42,851	0	15,406	58,257
Other comprehensive income (loss)	0	0	0	(34,006)	(8,841)	(42,847)
Shares issued under equity plans	$ 6	(727)	0	0	0	(721)
Shares issued under equity plans (in shares)	549
Share-based compensation expense	$ 0	3,334	0	0	0	3,334
Purchase and retirement of common stock through repurchase program	$ (2)	(1,622)	(2,949)	0	0	(4,573)
Purchase and retirement of common stock through repurchase program (in shares)	(195)
Balance at Feb. 02, 2025	$ 623	$ 515,742	$ 731,709	$ (120,325)	$ 366,460	$ 1,494,209
Balance (in shares) at Feb. 02, 2025	62,303

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

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Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 43: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 44: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 45: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
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Reference 46: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 45
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-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
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Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

+ Details

SHARE REPURCHASE PROGRAMS	3 Months Ended
SHARE REPURCHASE PROGRAMS	Feb. 02, 2025
SHARE REPURCHASE PROGRAMS [Abstract]
SHARE REPURCHASE PROGRAMS	NOTE 14 - SHARE REPURCHASE PROGRAMS In September 2020, the Company’s Board of Directors authorized the repurchase of up to $100 million of its common stock, pursuant to a repurchase plan under Rule 10b-18 of the Exchange Act. The repurchase authorization by the Board of Directors has no expiration date, does not obligate the Company to acquire any common stock, and is subject to market conditions. From September 2020 through October 2022, the Company repurchased 5.8 million shares at a cost of $68.3 million. In August 2024, the Board of Directors authorized an increase to the Company’s existing share repurchase program from the remaining $31.7 million up to $100 million. During the three-month period ended February 2, 2025, the Company repurchased 195,079 shares at a cost of $4.6 million pursuant to Rule 10b-18 of the Exchange Act. All shares repurchased under the program have been retired. As of February 2, 2025, $95.4 million remained available under this authorization for the repurchase of additional shares.

INCOME TAXES (Policies)	3 Months Ended
INCOME TAXES (Policies)	Feb. 02, 2025
INCOME TAXES [Abstract]
Income Taxes	The Company calculates its provision for income taxes at the end of each interim reporting period on the basis of an estimated annual effective tax rate adjusted for tax items that are discrete to each period. The table below sets forth the primary reasons that the Company’s effective income tax rates differed from the U.S. statutory tax rates in effect during the three-month periods ended February 2, 2025, and January 28, 2024.

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Mar. 16, 2023	Feb. 02, 2025	Jan. 28, 2024	Mar. 15, 2023
Share-based Compensation [Abstract]
Maximum number of shares of common stock that may be issued (in shares)	5,000,000			4,000,000
Additional shares available for issuance (in shares)	1,000,000
Expense incurred		$ 3,334	$ 2,573
Income tax benefits on share-based compensation		446	99
Cost of Goods Sold [Member]
Share-based Compensation [Abstract]
Expense incurred		776	595
Selling, General and Administrative [Member]
Share-based Compensation [Abstract]
Expense incurred		2,268	1,749
Research and Development [Member]
Share-based Compensation [Abstract]
Expense incurred		290	229
Restricted Stock [Member]
Share-based Compensation [Abstract]
Expense incurred		$ 3,277	$ 2,573
Restricted Stock [Abstract]
Number of shares granted in period (in shares)		345,500	825,050
Weighted-average grant-date fair value of awards (in dollars per share)		$ 23.82	$ 29.77
Shares outstanding at balance sheet date (in shares)		1,256,697	1,634,315
Estimated Expenses Not Yet Incurred [Abstract]
Compensation cost not yet recognized		$ 25,786	$ 31,426
Weighted-average amortization period for cost not yet recognized (in years)		3 years	3 years 3 months 18 days
Restricted Stock [Member] \| Minimum [Member]
Share-based Compensation [Abstract]
Award vesting period		1 year
Restricted Stock [Member] \| Maximum [Member]
Share-based Compensation [Abstract]
Award vesting period		4 years
Stock Options [Member]
Stock options activity [Abstract]
Contractual term		10 years
Number of options granted in period (in shares)		0	0
Cash received from options exercised		$ 1,272	$ 936
Estimated Expenses Not Yet Incurred [Abstract]
Compensation cost not yet recognized		$ 0	0
Outstanding and exercisable option awards [Roll Forward]
Outstanding at end of period (in shares)		150,325
Exercisable at end of period (in shares)		150,325
Weighted Average Exercise Price [Abstract]
Outstanding at end of period (in dollars per share)		$ 10.73
Exercisable at end of period (in dollars per share)		$ 10.73
Weighted Average Remaining Contractual Life (in years) [Abstract]
Outstanding at end of period		2 years 18 days
Exercisable at end of period		2 years 18 days
Aggregate Intrinsic Value [Abstract]
Outstanding at end of period		$ 1,843
Exercisable at end of period		$ 1,843
Stock Options [Member] \| Minimum [Member]
Share-based Compensation [Abstract]
Award vesting period		1 year
Stock Options [Member] \| Maximum [Member]
Share-based Compensation [Abstract]
Award vesting period		4 years
Employee Stock Purchase Plan [Member]
Share-based Compensation [Abstract]
Expense incurred		$ 57	$ 0

DEBT, Xiamen Working Capital Loans (Details) - Xiamen Working Capital Loans [Member] ¥ in Millions, $ in Millions	1 Months Ended		3 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Feb. 02, 2025 USD ($)	Aug. 31, 2024 USD ($)	Aug. 31, 2024 CNY (¥)	Nov. 30, 2018 USD ($)	Nov. 30, 2018 CNY (¥)
Debt Instruments [Abstract]
Maximum borrowing capacity				$ 27.7	¥ 200.0	$ 25.0	¥ 200.0
Repayments of long-term debt	$ 3.6	¥ 25.6
Expiration date			Jul. 31, 2025
Amount outstanding			$ 0.0

ACCOUNTS RECEIVABLE, NET (Details) - USD ($) $ in Thousands	Feb. 02, 2025	Oct. 31, 2024
ACCOUNTS RECEIVABLE, NET [Abstract]
Accounts Receivable	$ 149,711	$ 172,741
Unbilled Receivable	39,831	29,215
Allowance for Credit Losses	(1,104)	(1,126)
Total	$ 188,438	$ 200,830

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 02, 2025	Jan. 28, 2024
Calculation of Basic and Diluted Earnings Per Share [Abstract]
Net income attributable to Photronics, Inc. shareholders	$ 42,851	$ 26,180
Weighted-average common shares outstanding: [Abstract]
Basic (in shares)	62,093	61,455
Effect of dilutive securities: [Abstract]
Share-based awards	568	828
Dilutive common shares	568	828
Weighted-average common shares - Diluted (in shares)	62,661	62,283
Basic (in dollars per share)	$ 0.69	$ 0.43
Diluted (in dollars per share)	$ 0.68	$ 0.42
Antidilutive Securities [Abstract]
Total potentially dilutive shares excluded (in shares)	488	241
Share-based Awards [Member]
Antidilutive Securities [Abstract]
Total potentially dilutive shares excluded (in shares)	488	241

SHARE REPURCHASE PROGRAMS (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended	26 Months Ended
	Feb. 02, 2025	Oct. 31, 2022	Aug. 31, 2024	Jul. 31, 2024	Sep. 30, 2020
September 2020 Announced Program [Member]
Share Repurchase Program [Abstract]
Stock repurchased authorized amount					$ 100.0
Amount remaining under authorization for repurchase of additional shares	$ 95.4
Share Repurchase Programs [Member]
Share Repurchase Program [Abstract]
Stock repurchased authorized amount			$ 100.0
Number of shares repurchased (in shares)	195,079	5,800
Cost of shares repurchased	$ 4.6	$ 68.3
Amount remaining under authorization for repurchase of additional shares				$ 31.7

DEBT, Finance Leases (Details) - USD ($) $ in Thousands	1 Months Ended
DEBT, Finance Leases (Details) - USD ($) $ in Thousands	Feb. 28, 2021	Jan. 31, 2021	Feb. 02, 2025	Dec. 31, 2020
$7.2 Million Finance Lease [Member]
Finance Lease, [Abstract]
Finance lease contract term			5 years
Finance lease amount	$ 7,200
Early buyout option to purchase tool	2,400
$7.2 Million Finance Lease [Member] \| Monthly [Member]
Finance Lease, [Abstract]
Finance lease monthly payments	$ 100
$35.5 Million Finance Lease [Member]
Finance Lease, [Abstract]
Finance lease contract term			5 years
Finance lease amount				$ 35,500
Early buyout option to purchase tool		$ 14,100
$35.5 Million Finance Lease [Member] \| First Three Months [Member]
Finance Lease, [Abstract]
Finance lease monthly payments		40
$35.5 Million Finance Lease [Member] \| Following Nine Months [Member]
Finance Lease, [Abstract]
Finance lease monthly payments		600
$35.5 Million Finance Lease [Member] \| Forty Eight Months [Member]
Finance Lease, [Abstract]
Finance lease monthly payments		$ 500

CASH, CASH EQUIVALENTS AND INVESTMENTS (Tables)

3 Months Ended

Feb. 02, 2025

CASH, CASH EQUIVALENTS AND INVESTMENTS [Abstract]

Cash, Cash Equivalents and Investments Measured at Fair Value

The following are cash, cash equivalents and investments measured at fair value:

	February 2, 2025						October 31, 2024
	Cash and cash equivalents		Short-term investments		Total Fair Value		Cash and cash equivalents		Short-term investments			Total Fair Value
Cash	$	207,590	$	-	$	207,590	$	414,074	$	-		$	414,074
Level 1
Money market funds		91,740		-		91,740		36,322		-			36,322
Level 2
Time deposits		342,870		-		342,870		148,089		42,184	⁽¹⁾		190,273
	$	642,200	$	-	$	642,200	$	598,485	$	42,184		$	640,669
Restricted Cash⁽²⁾		2,674						2,758
Cash, cash equivalents, and restricted cash	$	644,874					$	601,243

⁽¹⁾ Matured during the first quarter of 2025.

⁽²⁾ Restricted cash is included in other current assets and primarily relates to land lease agreements and customs requirements.

Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

3 Months Ended

Feb. 02, 2025

Jan. 28, 2024

Cash flows from operating activities:

Net income

$ 58,257

$ 39,082

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

20,792

20,702

Share-based compensation

3,334

2,573

Changes in assets and liabilities:

Accounts receivable

7,869

(2,906)

Inventories

(2,533)

409

Other current assets

(522)

(2,844)

Accounts payable, accrued liabilities, and other

(8,731)

(15,508)

Net cash provided by operating activities

78,466

41,508

Cash flows from investing activities:

Purchases of property, plant and equipment

(35,200)

(43,314)

Purchases of short-term investments

(2,436)

Proceeds from maturities of short-term investments

41,482

2,500

Government incentives

620

1,091

Other

(57)

(56)

Net cash provided by (used in) investing activities

6,845

(42,215)

Cash flows from financing activities:

Repayments of debt

(15,343)

(1,194)

Common stock repurchases

(4,573)

Proceeds from share-based arrangements

1,433

936

Net settlements of restricted stock awards

(1,995)

(2,613)

Net cash used in financing activities

(20,478)

(2,871)

Effects of exchange rate changes on cash, cash equivalents, and restricted cash

(21,202)

13,026

Net increase in cash, cash equivalents, and restricted cash

43,631

9,448

Cash, cash equivalents, and restricted cash at beginning of period

601,243

501,867

Cash, cash equivalents, and restricted cash at end of period

644,874

511,315

Less: Ending restricted cash

2,674

^[1]

2,797

Cash and cash equivalents at end of period

642,200

508,518

Supplemental disclosure of non-cash information:

Accruals for property, plant and equipment purchased not yet paid

$ 10,911

$ 1,628

[1]	Restricted cash is included in other current assets and primarily relates to land lease agreements and customs requirements.

REVENUE, Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 02, 2025	Jan. 28, 2024	Oct. 31, 2024
Contract with Customer, Asset and Liability [Abstract]
Impairment loss on contract assets	$ 0	$ 0
Impairment loss on accounts receivable	0	0
Credit losses on accounts receivable	0	0
Contract liabilities	18,700		$ 21,285
Change in Contract with Customer, Liability [Abstract]
Revenue from performance obligation	0
Revenue recognized from beginning liability	4,369	$ 5,507
Other Current Assets [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract assets	11,819		11,532
Accrued Liabilities [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract liabilities	10,887		12,375
Other Liabilities [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract liabilities	$ 7,813		$ 8,910
Minimum [Member]
Revenue, Performance Obligation [Abstract]
Product invoice term	30 days
Product warranty period	1 month
Maximum [Member]
Revenue, Performance Obligation [Abstract]
Product invoice term	90 days
Product warranty period	24 months
IC [Member] \| Minimum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period	7 days
Customer order, extended satisfaction period	2 months
IC [Member] \| Maximum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period	14 days
Customer order, extended satisfaction period	3 months
FPD [Member] \| Minimum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period	14 days
FPD [Member] \| Maximum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period	21 days