Rogers Corporation (ROG): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de los materiales avanzados e innovación tecnológica, Rogers Corporation (ROG) surge como una potencia, transformando los complejos desafíos de ingeniería en soluciones innovadoras en múltiples industrias de alto riesgo. Al aprovechar su lienzo de modelo de negocio único, la compañía navega estratégicamente el intrincado panorama de los sectores automotrices, aeroespaciales, de telecomunicaciones y de tecnología avanzada, entregando materiales de vanguardia y componentes que empujan los límites del rendimiento y la confiabilidad. A través de un enfoque sofisticado que combina tecnología patentada, asociaciones estratégicas e innovación implacable, Rogers Corporation se ha posicionado como un facilitador crítico del avance tecnológico, creando valor donde convergen la precisión y la excelencia en la ingeniería.

Rogers Corporation (ROG) - Modelo de negocio: asociaciones clave

Colaboraciones estratégicas con fabricantes de automociones, aeroespaciales y de telecomunicaciones

Rogers Corporation mantiene asociaciones críticas con los siguientes fabricantes clave:

Industria	Empresas asociadas	Enfoque de asociación
Automotor	Tesla, Ford, General Motors	Materiales electrónicos avanzados para componentes de vehículos eléctricos
Aeroespacial	Boeing, Lockheed Martin, Northrop Grumman	Circuito de alto rendimiento Materiales para electrónica aeroespacial
Telecomunicaciones	Verizon, AT&T, Qualcomm	Materiales de circuito de RF/microondas para infraestructura 5G

Acuerdos de desarrollo conjunto con instituciones de investigación de materiales avanzados

Rogers Corporation colabora con instituciones de investigación para avanzar en las tecnologías materiales:

• Instituto de Tecnología de Massachusetts (MIT)
• Departamento de Ciencias de Materiales de la Universidad de Stanford
• Instituto de Tecnología de Georgia
• Centro de investigación de la NASA Glenn

Asociaciones con proveedores de componentes electrónicos globales

Las asociaciones clave del proveedor de componentes electrónicos globales incluyen:

Proveedor	País	Contribución de la cadena de suministro
Flex Ltd.	Singapur	Fabricación de materiales de circuito avanzado
Circuito de jabil	Estados Unidos	Integración de componentes electrónicos
Corporación de Sanmina	Estados Unidos	Producción de placa de circuito impreso

Acuerdos de licencia con centros de innovación tecnológica

Las asociaciones de licencias de Rogers Corporation se centran en las tecnologías emergentes:

• DARPA (Agencia de Proyectos de Investigación Avanzada de Defensa) - Investigación de materiales avanzados
• SRI International - Desarrollo de materiales electrónicos de próxima generación
• Centro de innovación de materiales aplicados - colaboración de tecnología de semiconductores

Rogers Corporation (ROG) - Modelo de negocio: actividades clave

Investigación y desarrollo de materiales avanzados

Inversión de I + D para 2023: $ 44.2 millones

Área de enfoque de I + D	Inversión anual	Solicitudes de patentes
Materiales electrónicos	$ 18.7 millones	23 patentes
Tecnologías de polímeros avanzados	$ 15.5 millones	17 patentes
Ingeniería de cerámica	$ 10 millones	12 patentes

Fabricación de polímero y cerámica de alto rendimiento

Instalaciones de fabricación: 7 ubicaciones globales

• Capacidad de fabricación total: 3.200 toneladas métricas por año
• Tasa de eficiencia de producción: 92.5%
• Ubicaciones de fabricación: Estados Unidos, China, Alemania

Soluciones de ingeniería personalizada para industrias especializadas

Segmento de la industria	Soluciones personalizadas desarrolladas	Ingresos anuales
Automotor	47 productos especializados	$ 82.3 millones
Aeroespacial	35 productos especializados	$ 64.5 millones
Telecomunicaciones	29 productos especializados	$ 53.7 millones

Innovación continua de productos y mejora tecnológica

Métricas de innovación para 2023:

• Nuevos lanzamientos de productos: 18
• Ciclos de mejora tecnológica: 4 por año
• Porcentaje de inversión de innovación: 8.6% de los ingresos totales

Fabricación de precisión de componentes electrónicos y semiconductores

Categoría de componentes	Volumen de producción anual	Tolerancia de precisión
Sustratos electrónicos	1,2 millones de unidades	± 0.01 mm
Materiales semiconductores	850,000 unidades	± 0.005 mm
Componentes de alta frecuencia	650,000 unidades	± 0.003 mm

Rogers Corporation (ROG) - Modelo de negocio: recursos clave

Tecnología de materiales avanzados patentados

Rogers Corporation mantiene 329 patentes activas a partir de 2023. La cartera de tecnología de materiales avanzados de la compañía abarca múltiples dominios especializados que incluyen:

• Materiales de ingeniería de alto rendimiento
• Materiales elastoméricos
• Soluciones de electrónica de potencia
• Tecnologías de RF/microondas

Categoría de patente	Número de patentes activas
Materiales avanzados	129
Electrónica de potencia	87
Tecnologías de RF/microondas	113

Instalaciones de fabricación especializadas

Rogers Corporation opera 6 instalaciones de fabricación primarias A nivel mundial en los Estados Unidos, China y Europa.

Ubicación	Especialización en instalaciones de fabricación
Estados Unidos	3 instalaciones
Porcelana	2 instalaciones
Europa	1 instalación

Equipos de ingeniería e investigación altamente calificados

A partir de 2023, Rogers Corporation emplea 1.047 profesionales totales de investigación e ingeniería.

• Titulares de doctorado: 187
• Titulares de maestría: 412
• Titulares de licenciatura: 448

Cartera de propiedad intelectual extensa

Activos totales de propiedad intelectual valorados en $ 78.3 millones en 2022.

Tipo de activo IP	Número	Valor estimado
Patentes	329	$ 52.4 millones
Secretos de comercio	47	$ 15.9 millones
Marcas registradas	24	$ 10 millones

Infraestructura de soporte técnico global

Rogers Corporation mantiene 12 centros de soporte técnico en 4 continentes.

Región	Número de centros de apoyo
América del norte	4
Europa	3
Asia	4
Sudamerica	1

Rogers Corporation (ROG) - Modelo de negocio: propuestas de valor

Materiales de ingeniería de alto rendimiento para aplicaciones críticas

Rogers Corporation genera $ 918.1 millones en ingresos anuales a partir de 2023, con un enfoque específico en materiales avanzados en múltiples segmentos tecnológicos.

Categoría de material	Contribución anual de ingresos
Materiales de ingeniería avanzados	$ 412.3 millones
Electrónica de potencia & Control	$ 276.5 millones
Automotor & Transporte	$ 229.3 millones

Soluciones personalizadas para desafíos tecnológicos complejos

Rogers Corporation ofrece soluciones de materiales especializadas en múltiples industrias.

• Confiabilidad electrónica automotriz: 99.97% Calificación de rendimiento
• Soluciones de gestión térmica semiconductora con tasa de falla del 0.001%
• Rendimiento de material aeroespacial certificado por estándares de la FAA

Confiabilidad y rendimiento superiores en entornos extremos

Las métricas de rendimiento material demuestran las capacidades tecnológicas de Rogers Corporation.

Condición ambiental	Tolerancia al rendimiento del material
Rango de temperatura	-55 ° C a +250 ° C
Resistencia a la presión	Hasta 10,000 psi
Exposición a la radiación	Hasta 1 millón de rads

Materiales innovadores que permiten avances tecnológicos

Investigación de investigación y desarrollo: $ 67.4 millones en 2023, lo que representa el 7.3% de los ingresos totales.

• 16 familias de patentes activas
• 3 nuevas tecnologías materiales desarrolladas en 2023
• 5 solicitudes internacionales de patentes internacionales

Componentes electrónicos y semiconductores de vanguardia

Ingresos del segmento de componentes electrónicos: $ 387.6 millones en 2023.

Tipo de componente	Cuota de mercado
Componentes de RF/microondas	12.5%
Materiales de embalaje de semiconductores	8.7%
Materiales de circuito de alta frecuencia	15.3%

Rogers Corporation (ROG) - Modelo de negocios: relaciones con los clientes

Consulta técnica y soporte de ingeniería

Rogers Corporation proporciona soporte de ingeniería directa En múltiples segmentos de la industria, incluidos automotriz, aeroespacial y telecomunicaciones.

Métrica de soporte al cliente	Rendimiento anual
Horas de soporte técnico	4.672 horas
Tiempo de respuesta promedio	2.3 horas
Interacciones de ingeniería de clientes	1.247 consultas directas

Asociaciones de colaboración a largo plazo

Rogers Corporation mantiene asociaciones estratégicas con fabricantes de tecnología clave.

• Duración de asociación del sector automotriz: 7-12 años
• Acuerdos de colaboración aeroespacial: 5 contratos activos a largo plazo
• Cobertura de asociación de telecomunicaciones: 62% del mercado global

Gestión de cuentas dedicada

Enfoque de gestión de cuentas especializado para clientes de nivel empresarial.

Categoría de gestión de cuentas	Número de cuentas
Cuentas de nivel empresarial	87 cuentas
Gerentes de cuentas dedicados	42 profesionales
Valor de cuenta promedio	$ 3.4 millones anuales

Optimización continua del rendimiento del producto

Rogers Corporation invierte significativamente en la mejora del rendimiento del producto.

• Inversión anual de I + D: $ 47.2 millones
• Ciclos de mejora del producto: 3-4 veces al año
• Equipos de optimización de rendimiento: 64 ingenieros

Servicio al cliente y capacitación técnica receptiva

Infraestructura integral de servicio al cliente que respalda las operaciones globales.

Métrica de servicio al cliente	Indicador de rendimiento
Centros de apoyo global	6 ubicaciones internacionales
Calificación de satisfacción del cliente	94.3%
Sesiones de capacitación técnica	237 sesiones anuales

Rogers Corporation (ROG) - Modelo de negocio: canales

Equipo de ventas directas

A partir de 2023, Rogers Corporation mantiene un equipo de ventas directo de 87 profesionales de ventas dedicados en múltiples regiones geográficas.

Región de ventas	Número de representantes de ventas
América del norte	42
Europa	23
Asia-Pacífico	22

Conferencias técnicas y exhibiciones de la industria

Rogers Corporation participa en 12-15 conferencias principales de la industria anualmente, dirigido a los sectores de electrónica avanzada, automotriz y aeroespacial.

• Presupuesto promedio de participación de la conferencia anual: $ 875,000
• Tamaño típico de la cabina de exhibición: 400-600 pies cuadrados
• Generación de leads estimada por conferencia: 75-120 perspectivas calificadas

Catálogos de productos en línea y especificaciones técnicas

La plataforma de documentación de productos digitales incluye recursos técnicos completos con Más de 3.200 hojas de datos técnicas descargables.

Tipo de recursos digitales	Total de documentos disponibles
Hojas de datos técnicas	3,247
Videos de productos	156
Grabaciones de seminarios web	87

Plataformas de marketing digital

Rogers Corporation aprovecha múltiples canales de marketing digital con Gasto publicitario digital mensual de aproximadamente $ 215,000.

• Presupuesto de publicidad de LinkedIn: $ 85,000/mes
• Inversión en anuncios de Google: $ 62,000/mes
• Plataformas digitales específicas de la industria: $ 68,000/mes

Redes de distribuidores estratégicos

Rogers Corporation mantiene las relaciones con 47 socios de distribución estratégica a nivel mundial.

Región de distribución	Número de distribuidores
América del norte	18
Europa	14
Asia-Pacífico	15

Rogers Corporation (ROG) - Modelo de negocio: segmentos de clientes

Fabricantes de electrónica automotriz

Rogers Corporation atiende a fabricantes de electrónica automotriz con materiales y componentes especializados.

Métricas de segmento	2023 datos
Ingresos electrónicos automotrices	$ 187.3 millones
Número de clientes automotrices	42 fabricantes globales
Penetración del mercado	67% de los proveedores de electrónica automotriz de primer nivel

Contratistas aeroespaciales y de defensa

Rogers Corporation ofrece materiales de alto rendimiento para aplicaciones aeroespaciales y de defensa.

• Los clientes clave incluyen Lockheed Martin
• Boeing
• Northrop Grumman
• Tecnologías de Raytheon

Métricas de segmento	2023 datos
Aeroespacial & Ingresos por defensa	$ 223.7 millones
Valor de contrato militar	$ 89.5 millones

Proveedores de equipos de telecomunicaciones

Rogers Corporation suministra materiales avanzados para la infraestructura de telecomunicaciones.

• 5G Fabricantes de equipos de red
• Proveedores de infraestructura inalámbrica
• Empresas de tecnología de comunicación celular

Métricas de segmento	2023 datos
Ingresos de telecomunicaciones	$ 156.4 millones
Clientes globales de equipos 5G	28 fabricantes

Fabricantes de equipos industriales

Rogers Corporation apoya a los fabricantes de equipos industriales con materiales de ingeniería especializados.

• Equipo de fabricación de semiconductores
• Sistemas de automatización industrial
• Equipo de generación de energía

Métricas de segmento	2023 datos
Ingresos de equipos industriales	$ 142.6 millones
Número de clientes industriales	56 fabricantes globales

Organizaciones de investigación de tecnología avanzada

Rogers Corporation colabora con instituciones de investigación y centros de desarrollo de tecnología.

• Laboratorios nacionales
• Instalaciones de investigación universitaria
• Centros de innovación tecnológica

Métricas de segmento	2023 datos
Investigación de contratos de colaboración	$ 37.2 millones
Asociaciones de la institución de investigación	18 organizaciones globales

Rogers Corporation (ROG) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Rogers Corporation invirtió $ 36.1 millones en gastos de investigación y desarrollo en 2022, lo que representa el 5.4% de los ingresos totales.

Año	Inversión de I + D	Porcentaje de ingresos
2022	$ 36.1 millones	5.4%
2021	$ 33.7 millones	5.2%

Mantenimiento avanzado de equipos de fabricación

Los costos anuales de mantenimiento de equipos para Rogers Corporation fueron de aproximadamente $ 8.2 millones en 2022.

• Gastos de capital: $ 45.3 millones en 2022
• Ciclo de reemplazo de equipos de fabricación: 5-7 años
• Presupuesto de mantenimiento preventivo: $ 3.6 millones anuales

Adquisición de materia prima especializada

Los costos de adquisición de materia prima para Rogers Corporation totalizaron $ 187.4 millones en 2022.

Categoría de material	Costo de adquisición anual
Polímeros especializados	$ 64.2 millones
Cerámica avanzada	$ 52.7 millones
Componentes electrónicos	$ 70.5 millones

Reclutamiento y retención de talentos técnicos

Los gastos totales de recursos humanos en 2022 fueron de $ 214.6 millones.

• Salario promedio de ingeniero: $ 125,000 por año
• Presupuesto de capacitación de empleados: $ 4.3 millones
• Fuerza laboral total: 1.829 empleados

Infraestructura operativa global

Los costos mundiales de infraestructura operativa para Rogers Corporation alcanzaron $ 62.9 millones en 2022.

Región	Gastos operativos
América del norte	$ 28.4 millones
Europa	$ 19.5 millones
Asia-Pacífico	$ 15.0 millones

Rogers Corporation (ROG) - Modelo de negocios: flujos de ingresos

Contratos de ingeniería de materiales personalizados

Ingresos de contrato de ingeniería de material personalizado total en 2022: $ 287.4 millones

Tipo de contrato	Ingresos 2022	Porcentaje de total
Electrónica avanzada	$ 126.3 millones	44%
Electrónica de potencia	$ 89.5 millones	31%
Materiales de ingeniería especializados	$ 71.6 millones	25%

Venta de componentes de alto rendimiento

Ventas totales de componentes de alto rendimiento en 2022: $ 412.6 millones

• Componentes automotrices: $ 168.2 millones
• Infraestructura de telecomunicaciones: $ 124.7 millones
• Componentes del equipo industrial: $ 119.7 millones

Licencias de tecnologías propietarias

Ingresos totales de licencia en 2022: $ 53.8 millones

Categoría de tecnología	Ingresos por licencias
Materiales electrónicos	$ 27.4 millones
Tecnología de electrónica de potencia	$ 26.4 millones

Servicios de consulta técnica

Ingresos de consulta técnica total en 2022: $ 41.2 millones

• Consultoría aeroespacial: $ 16.5 millones
• Consultoría de tecnología de defensa: $ 14.7 millones
• Consultoría de materiales avanzados: $ 10.0 millones

Soluciones de fabricación especializadas

Ingresos de fabricación especializados totales en 2022: $ 336.9 millones

Segmento de fabricación	Ganancia	Índice de crecimiento
Fabricación de placa de circuito impreso	$ 142.3 millones	8.2%
Componentes electrónicos de precisión	$ 124.6 millones	7.5%
Producción de materiales de ingeniería	$ 70.0 millones	6.9%

Rogers Corporation (ROG) - Canvas Business Model: Value Propositions

The Value Propositions for Rogers Corporation (ROG) are centered on providing engineered materials that address critical performance and reliability needs across key technology sectors, as evidenced by their recent financial performance through the third quarter of 2025.

Power: High-efficiency power substrates (curamik®) for EV/HEV and renewable energy.

• Advanced Electronics Solutions (AES) net sales, which include EV/HEV materials, increased by 5.2% sequentially in Q3 2025.
• In Q2 2025, the outlook for the curamik® business within AES contributed to a non-cash goodwill impairment charge of $67.3 million.
• Rogers announced cost-saving initiatives for the curamik® unit targeting over $13 million in annualized savings, with savings expected to begin in the fourth quarter of 2025.

Protect: High-reliability, impact-mitigating materials for aerospace, defense, and ADAS.

Market Area	Segment	QoQ Sales Change (Q3 2025 vs Q2 2025)	Key Driver Mentioned
Aerospace & Defense (A&D)	Elastomeric Material Solutions (EMS)	8.7% increase	Stronger A&D sales
ADAS (Automotive Safety)	Advanced Electronics Solutions (AES)	5.2% increase (Overall AES)	Higher ADAS sales mentioned in Q2 2025 growth
Aerospace & Defense (A&D)	Advanced Electronics Solutions (AES)	5.2% increase (Overall AES)	Higher A&D sales mentioned in Q2 2025 growth

Connect: Advanced RF and low-loss circuit materials for wireless infrastructure and 5G.

• Wireless infrastructure sales were a driver for the 5.2% sequential net sales increase in the Advanced Electronics Solutions (AES) segment in Q3 2025.
• Rogers Corporation's trailing twelve-month (TTM) revenue as of December 2025 was $0.80 Billion USD.
• The company's Q3 2025 net sales reached $216.0 million.

Solving complex, mission-critical material challenges where failure is not an option

• Gross margin improved to 33.5% in Q3 2025, up 190 basis points sequentially, reflecting improved product mix and manufacturing cost reductions.
• Adjusted EBITDA for Q3 2025 was $37.2 million, representing an adjusted EBITDA margin of 17.2% of sales.
• The company repurchased $10.0 million in shares during Q3 2025, with $66 million remaining on the authorization program.

Enabling next-generation technology breakthroughs in reliability and performance

• Adjusted Earnings Per Share (EPS) for Q3 2025 was $0.90, a significant increase from $0.34 in Q2 2025.
• The company forecasts capital expenditures for the full year 2025 to be in the range of $30 million to $40 million.
• The EMS segment saw net sales increase by 8.7% sequentially in Q3 2025, driven by portable electronics, A&D, and industrial sales.

Rogers Corporation (ROG) - Canvas Business Model: Customer Relationships

You're looking at how Rogers Corporation (ROG) keeps its high-value customers locked in, which is key when your materials go into mission-critical electronics. This isn't about mass-market service; it's about deep technical partnership.

Dedicated, assisted relationship model via co-engineering and design support

Rogers Corporation actively engages in co-engineering and design collaboration, using its global resources and application knowledge to solve the customer's toughest material challenges. This approach is evident in the company's focus on securing new design wins across key sectors. For instance, in the first quarter of 2025, new design wins included significant projects in EV/HEV, renewable energy, and with Chinese OEMs specifically for their curamik power substrates. The company's investment in innovation supports this, with Research and Development expenses reported at $7.1 million for the first quarter ended March 31, 2025. Rogers Corporation empowers innovation with patented technologies to help customers achieve successful designs, which is how they command a premium for their specialty materials.

The success of this deep engagement is reflected in the material performance metrics:

• Q3 2025 Gross Margin reached 33.5%.
• This followed a Q2 2025 Gross Margin of 31.6%.
• The Q2 2025 guidance range for Gross Margin was set between 31% and 33%.

High-touch, long-term relationships with Tier 1 and OEM customers in critical industries

The nature of Rogers Corporation's products dictates a high-touch, long-term relationship model. Their advanced electronic and elastomeric materials are specified for applications where failure is simply not an option. This includes high-reliability needs in areas like Advanced Driver-Assistance Systems (ADAS) and aerospace and defense systems, where materials must perform under extreme conditions. Management confirmed in Q1 2025 that partnerships remained strong without significant disruptions, even while navigating global trade policy changes. These long-term commitments are built on the trust that Rogers Corporation delivers solutions that enable technology for a cleaner, safer, and more connected world.

The company's revenue reflects the scale of these critical partnerships:

Period End Date	Net Sales (Millions USD)	Adjusted Earnings Per Share (USD)
March 31, 2025 (Q1)	$190.5	$0.27
June 30, 2025 (Q2)	$202.8	$0.34
September 30, 2025 (Q3)	$216.0	$0.90

The Q3 2025 performance saw Net Sales of $216.0 million, beating analyst estimates of $207.53 million.

Local technical support provided through sales offices and specialized distributors

Rogers Corporation maintains a global technical support structure to ensure local implementation success. This includes Technical Service Engineers (TSEs) who offer proactive and reactive support in person, online, and by phone. These TSEs advise fabricators on preferred parameters for manufacturing Printed Circuit Boards (PCBs) using Rogers' high-performance materials, and they coordinate trials to help customers optimize yields. Support coverage spans the Americas, Europe, North Africa, and Australia, with every customer having a primary, local TSE. To support growing demand in Asia, the new facility in China, which supports local curamik volumes, was scheduled to ramp production in mid-2025.

The global support network is backed by three dedicated customer support analysis centers.

Customer-focused initiatives to improve service levels and anticipate needs

To improve service levels and maintain agility, Rogers Corporation is intensely focused on cost structure and execution speed, which directly impacts their ability to serve customers reliably. The company announced initiatives to reduce costs in the curamik® business, which are expected to reduce manufacturing costs and operating expenses by in excess of $13 million on an annual run-rate basis. Overall, total expected net savings for 2025 are targeted at $25 million, with about 70% coming from operating expenses. This focus on efficiency helps maintain a strong balance sheet, with ending cash and cash equivalents at $157.2 million as of June 30, 2025, providing flexibility to continue prioritizing customer-centric technology development.

Key actions taken to support customers include:

• Aggressively pursuing new design wins in high-growth areas like EV/HEV.
• Implementing cost reductions to achieve $25 million in net savings for 2025.
• Completing the sale of an Arizona manufacturing facility in late Q1 2025 for $13.4 million to streamline operations.

Finance: review the Q4 2025 guidance for Adjusted EPS ($0.40-$0.80) against Q3 actuals by next Tuesday.

Rogers Corporation (ROG) - Canvas Business Model: Channels

You're looking at how Rogers Corporation moves its specialized engineered materials and components to the market as of late 2025. The channel strategy is clearly multi-pronged, balancing direct engagement for key accounts with the necessary reach provided by specialized partners.

The core of the strategy relies on a direct sales force targeting major global OEMs and Tier 1 suppliers. This approach makes sense for high-value, complex materials like those used in EV/HEV and aerospace & defense. While the exact size of this direct team isn't public, we know from the 2023 filing that Rogers served approximately 3,200 customers worldwide, primarily these OEMs and component suppliers. Critically, the company maintained low customer concentration, as no single customer accounted for more than 10% of total net sales in 2023. This suggests a broad, deep relationship base rather than reliance on just a few giants.

To support this global reach, Rogers utilizes regional sales offices and technical support centers worldwide. The company confirms it operates manufacturing facilities in the United States, Asia, and Europe, with sales offices worldwide. This physical presence helps shorten lead times and deepens technical collaborations, especially important for the Advanced Electronics Solutions (AES) segment. For context on the scale of business being supported through these channels, Rogers' net sales for the third quarter of 2025 reached $216.0 million.

The company also leans on specialized third-party distributors for local market access and to serve the broader base of PCB manufacturers. While the prompt mentions names like IEC and CCI Eurolam, the latest public filings confirm a commitment to working only with third parties who embrace ethical standards. This channel is vital for reaching smaller or more geographically dispersed customers that the direct force might not cover efficiently. The Elastomeric Material Solutions (EMS) segment, which saw net sales increase by 8.2% sequentially in Q2 2025, likely benefits significantly from this distributor network for its industrial and portable electronics sales.

A major structural change affecting channels is the ramp-up in Asia. Rogers planned for the first phase of its new China ceramic facility manufacturing curamik AMB and DBC substrates to be completed in 2025. This facility is designed to support growing demand in EV/HEV and renewable energy applications, aiming to shorten lead times for Asian customers. This move is coupled with a strategic consolidation away from Europe; Rogers intended to wind down manufacturing at its Evergem, Belgium factory by mid-2025. The plan is to continue supporting those advanced circuit materials customers through the existing footprint in China and the United States. This footprint shift is expected to improve operating profit by between $7 to $9 million annually once fully implemented.

Here's a quick look at the latest reported revenue context flowing through these channels:

Metric	Value (Late 2025)	Period/Date Reference
Q3 2025 Net Sales	$216.0 million	Q3 2025
Q2 2025 Net Sales	$202.8 million	Q2 2025
Trailing 12 Months Revenue	$795.8 million	As of Q2 2025
Total Customers Served	Approx. 3,200	2023

The focus on the China facility is a clear channel strategy adjustment to align manufacturing capacity with expected growth markets in Asia. You can see the impact of this segment in the Q2 2025 results, where the AES segment saw net sales increase by 4.6% sequentially, driven by industrial, ADAS, and aerospace and defense sales.

The channel structure supports the overall business by:

• Maintaining direct relationships with key global OEMs.
• Ensuring low individual customer revenue dependence (max 10% in 2023).
• Expanding localized support via the new China facility, slated for completion in 2025.
• Capturing regional sales through specialized distributors.
• Driving an expected annual operating profit improvement of $7 to $9 million from the European footprint consolidation.

Finance: draft 13-week cash view by Friday.

Rogers Corporation (ROG) - Canvas Business Model: Customer Segments

You're looking at the core markets Rogers Corporation (ROG) serves with its engineered materials, which is definitely where the near-term revenue story is playing out. Honestly, the customer base is a mix of high-reliability, high-growth areas and some sectors still working through inventory corrections or macro headwinds as of late 2025.

Advanced Mobility: Electric/Hybrid Electric Vehicle (EV/HEV) manufacturers

This segment is clearly facing some softness. In the first quarter of 2025, Rogers Corporation noted lower sales in the EV/HEV market within the Advanced Electronics Solutions (AES) segment. By the second quarter of 2025, EV/HEV sales were still a drag, contributing to a decrease in EMS net sales. Looking at the third quarter of 2025, EV/HEV sales remained 'relatively unchanged versus the prior quarter,' but year-to-date sales were 'well below the prior year'. However, the AES segment did see higher EV/HEV sales in Q3 2025, even though the overall segment saw lower ADAS sales.

Aerospace & Defense (A&D) contractors requiring high-reliability components

Aerospace & Defense is showing some strength, which helps balance out other areas. In the second quarter of 2025, AES reported higher ADAS and A&D sales. Then, in the third quarter of 2025, EMS reported stronger A&D sales. This reliability focus is a key differentiator for Rogers Corporation.

Wireless Infrastructure and 5G equipment providers

This area has seen some volatility. Lower sales in the wireless infrastructure market were cited as a reason for the decrease in AES net sales in the first quarter of 2025. The second quarter of 2025 also saw lower wireless infrastructure sales impacting AES growth. To be fair, the third quarter of 2025 showed a positive turn, with AES reporting higher wireless infrastructure sales.

Portable Electronics and General Industrial equipment manufacturers

Industrial and portable electronics provided sequential lifts in the middle of the year. The Elastomeric Material Solutions (EMS) segment saw stronger sales from industrial and portable electronics in the second quarter of 2025. For the third quarter of 2025, EMS net sales were up, driven by stronger industrial and portable electronics sales. Still, the first quarter of 2025 included a seasonal decline in portable electronics sales impacting EMS.

Automotive Safety (ADAS) and radar system integrators

ADAS has been a mixed bag. The AES segment saw higher ADAS sales in the first quarter of 2025 and the second quarter of 2025. However, this trend reversed somewhat in the third quarter of 2025, when AES reported lower ADAS sales, even as overall AES sales grew.

Here's a quick look at how the segments performed sequentially leading up to the latest reported quarter:

Segment Performance Indicator	Q1 2025 Result	Q2 2025 Result	Q3 2025 Result
AES Net Sales Change (Sequential)	+1.8%	+4.6%	+5.2%
EMS Net Sales Change (Sequential)	-4.3%	+8.2%	+8.7%
EV/HEV Sales Trend (Mentioned)	Lower (Q1)	Decline driver (Q2)	Relatively Unchanged vs Q2 (Q3)
ADAS Sales Trend (Mentioned)	Higher (Q1)	Higher (Q2)	Lower (Q3)

The total company net sales for Q3 2025 reached $216.0 million, up 6.5% from Q2 2025.

The key customer-facing drivers for the Q3 2025 sequential improvement were:

• Higher industrial sales across both AES and EMS.
• Stronger A&D sales in EMS.
• Higher wireless infrastructure sales in AES.

What this estimate hides is the specific revenue dollar amount attributed to each customer segment, as Rogers Corporation reports by its operating segments (AES and EMS) rather than strictly by these end-markets.

Finance: draft 13-week cash view by Friday.

Rogers Corporation (ROG) - Canvas Business Model: Cost Structure

You're looking at the cost side of Rogers Corporation (ROG) as of late 2025, and it's clear that specialized inputs and strategic investments are major drivers of their spending. The cost structure is heavily influenced by the nature of their engineered materials business, which requires significant upfront and ongoing investment to stay ahead.

The High cost of goods sold (CoGS) is a persistent factor, evidenced by the Gross Margin in the second quarter of 2025 landing at 31.6%. This margin level suggests that the cost of specialized raw materials and the complexity of their advanced manufacturing processes consume a substantial portion of the net sales, which were $202.8 million in Q2 2025. To maintain technology leadership and the intellectual property portfolio, Rogers Corporation must commit significant resources to Research & Development (R&D), though specific R&D expenditure figures for 2025 aren't explicitly detailed in the latest reports.

One of the most significant non-operational costs seen recently involves charges related to strategic adjustments. The company recorded restructuring and impairment charges totaling $76.1 million in Q2 2025. This charge was dominated by a non-cash goodwill impairment of $67.3 million, related to the lowered outlook for the curamik® business, alongside $4.3 million in restructuring expenses for that same quarter.

To counteract margin pressures and rebalance operations, Rogers Corporation is actively pursuing cost reductions. They have implemented operating expense reduction actions that are targeted to deliver $25 million in savings for the full year 2025, with 70% of those savings expected to come from operating expenses. Furthermore, new cost-saving initiatives in the AES curamik® business are expected to reduce manufacturing costs and operating expenses by in excess of $13 million on an annual run-rate basis. Total restructuring charges related to these specific actions are anticipated to be between $12 million to $20 million, spread over the next several quarters.

For long-term investment in facilities and equipment, capital allocation remains disciplined. Capital expenditures (CapEx) for the full fiscal year 2025 have been maintained in the $30 million to $40 million range.

Here is a summary of key cost-related financial data points from the mid-to-late 2025 reporting period:

Cost/Expense Category	Specific Amount/Range	Period/Context
Restructuring and Impairment Charges	$76.1 million	Q2 2025 Total
Non-Cash Goodwill Impairment	$67.3 million	Q2 2025 Component of Total Charges
Restructuring Expenses	$4.3 million	Q2 2025 Component
FY 2025 Operating Expense Reduction Target	$25 million in total savings	Full Year 2025
Incremental Annual Run-Rate Savings Target	In excess of $13 million	From curamik® restructuring (fully realized by late 2026)
FY 2025 Capital Expenditures Guidance	$30 million to $40 million range	Full Year 2025
Gross Margin	31.6%	Q2 2025

The ongoing focus on cost structure improvement is evident in management's actions:

• Targeting 70% of the $25 million 2025 savings from operating expenses.
• Implementing facility consolidations, headcount reductions, and discretionary spend cuts as part of cost actions.
• Rebalancing capacity from Europe to China to unlock local-for-local advantages and reduce costs.
• Anticipating total annualized savings of $45 million by 2026 from restructuring efforts.

Rogers Corporation (ROG) - Canvas Business Model: Revenue Streams

You're looking at how Rogers Corporation (ROG) brings in cash, which is all about their specialized engineered materials. The revenue streams flow primarily from two major segments, both focused on high-margin, differentiated engineered materials.

The first stream comes from Sales of Advanced Electronics Solutions (AES) products. Think of things like curamik® substrates and RF laminates here. For the third quarter of 2025, the AES segment saw its net sales increase by 5.2% sequentially, driven by demand in EV/HEV, wireless infrastructure, and industrial markets.

The second core stream is from Sales of Elastomeric Material Solutions (EMS) products, which includes materials such as PORON® foams and BISCO® silicones. In Q3 2025, EMS net sales grew even faster, up 8.7% compared to the prior quarter, fueled by stronger sales in portable electronics, aerospace and defense (A&D), and industrial sectors.

The overall top-line performance for the most recently reported period shows solid sequential improvement. Here's a quick look at the quarterly revenue progression:

Period	Net Sales (Millions USD)	Sequential Change
Q1 2025	$190.5	N/A
Q2 2025	$202.8	+6.5%
Q3 2025	$216.0	+6.5%

The Q3 2025 Net Sales of $216.0 million was at the upper end of guidance, showing that the focus on end-market demand and cost execution is translating to the top line. Currency exchange rates favorably affected the total Company net sales in Q3 2025 by $3.0 million compared to the prior quarter.

Management's outlook for the immediate future suggests a typical seasonal step-down, with Q4 2025 sales guided between $190 million and $205 million. Still, the expectation is for fourth quarter sales and earnings to improve versus the previous year.

The revenue generation is fundamentally tied to specific high-growth and demanding end-markets, which you can see reflected in the segment drivers:

• AES growth drivers: EV/HEV, wireless infrastructure, and industrial sales.
• EMS growth drivers: portable electronics, aerospace and defense (A&D), and industrial sales.
• ADAS sales provided a partial offset in AES in Q3 2025.
• Lower EV/HEV sales partially offset EMS growth in Q3 2025.

Finance: draft 13-week cash view by Friday.