Rogers Corporation (ROG): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique des matériaux avancés et de l'innovation technologique, Rogers Corporation (ROG) émerge comme une puissance, transformant des défis d'ingénierie complexes en solutions révolutionnaires dans plusieurs industries à enjeux élevés. En tirant parti de sa toile de modèle commercial unique, la société navigue stratégiquement dans le paysage complexe des secteurs de l'automobile, de l'aérospatiale, des télécommunications et des technologies avancées, en fournissant des matériaux et des composants de pointe qui repoussent les limites de la performance et de la fiabilité. Grâce à une approche sophistiquée qui mélange la technologie propriétaire, les partenariats stratégiques et l'innovation implacable, Rogers Corporation s'est positionnée comme un catalyseur critique de l'avancement technologique, créant de la valeur où la précision et l'excellence de l'ingénierie convergent.

Rogers Corporation (ROG) - Modèle d'entreprise: partenariats clés

Collaborations stratégiques avec les fabricants d'automobiles, aérospatiaux et de télécommunications

Rogers Corporation maintient des partenariats critiques avec les principaux fabricants suivants:

Industrie	Entreprises partenaires	Focus de partenariat
Automobile	Tesla, Ford, General Motors	Matériaux électroniques avancés pour composants de véhicules électriques
Aérospatial	Boeing, Lockheed Martin, Northrop Grumman	Matériaux de circuit haute performance pour l'électronique aérospatiale
Télécommunications	Verizon, AT&T, Qualcomm	RF / MATALES DE CIRCUIT MICRE pour l'infrastructure 5G

Accords de développement conjoints avec des institutions de recherche sur les matériaux avancés

Rogers Corporation collabore avec les institutions de recherche pour faire progresser les technologies matérielles:

• Institut de technologie du Massachusetts (MIT)
• Département des sciences des matériaux de l'Université de Stanford
• Georgia Institute of Technology
• Centre de recherche de la NASA Glenn

Partenariats avec les fournisseurs mondiaux de composants électroniques

Les partenariats clés des fournisseurs de composants électroniques mondiaux comprennent:

Fournisseur	Pays	Contribution de la chaîne d'approvisionnement
Flex Ltd.	Singapour	Fabrication de matériaux de circuit avancé
Circuit de jabil	États-Unis	Intégration des composants électroniques
Sanmina Corporation	États-Unis	Production de cartes de circuit imprimé

Accords de licence avec des centres d'innovation technologique

Les partenariats de licence de Rogers Corporation se concentrent sur les technologies émergentes:

• DARPA (Defense Advanced Research Projects Agency) - Recherche avancée des matériaux
• SRI International - Développement électronique de nouvelle génération
• Centre d'innovation des matériaux appliqués - Collaboration technologique semi-conductrice

Rogers Corporation (ROG) - Modèle d'entreprise: activités clés

Recherche et développement avancés des matériaux

Investissement de R&D pour 2023: 44,2 millions de dollars

Zone de focus R&D	Investissement annuel	Demandes de brevet
Matériaux électroniques	18,7 millions de dollars	23 brevets
Technologies de polymère avancé	15,5 millions de dollars	17 brevets
Génie en céramique	10 millions de dollars	12 brevets

Fabrication de polymère et de céramique haute performance

Installations de fabrication: 7 emplacements mondiaux

• Capacité de fabrication totale: 3 200 tonnes métriques par an
• Taux d'efficacité de la production: 92,5%
• Emplacements de fabrication: États-Unis, Chine, Allemagne

Solutions d'ingénierie personnalisées pour les industries spécialisées

Segment de l'industrie	Solutions personnalisées développées	Revenus annuels
Automobile	47 produits spécialisés	82,3 millions de dollars
Aérospatial	35 produits spécialisés	64,5 millions de dollars
Télécommunications	29 produits spécialisés	53,7 millions de dollars

Innovation continue des produits et amélioration technologique

Mesures d'innovation pour 2023:

• Lancements de nouveaux produits: 18
• Cycles d'amélioration de la technologie: 4 par an
• Pourcentage d'investissement en innovation: 8,6% des revenus totaux

Fabrication de précision des composants électroniques et semi-conducteurs

Catégorie de composants	Volume de production annuel	Tolérance à la précision
Substrats électroniques	1,2 million d'unités	± 0,01 mm
Matériaux semi-conducteurs	850 000 unités	± 0,005 mm
Composants à haute fréquence	650 000 unités	± 0,003 mm

Rogers Corporation (ROG) - Modèle d'entreprise: Ressources clés

Technologie des matériaux avancés propriétaires

Rogers Corporation conserve 329 brevets actifs à partir de 2023. Le portefeuille de technologies de matériaux avancées de la société couvre plusieurs domaines spécialisés, notamment:

• Matériaux d'ingénierie haute performance
• Matériaux élastomères
• Solutions électriques d'alimentation
• RF / technologies micro-ondes

Catégorie de brevet	Nombre de brevets actifs
Matériaux avancés	129
Électronique électrique	87
RF / technologies micro-ondes	113

Installations de fabrication spécialisées

Rogers Corporation exploite 6 installations de fabrication primaires À travers le monde à travers les États-Unis, la Chine et l'Europe.

Emplacement	Spécialisation des installations de fabrication
États-Unis	3 installations
Chine	2 installations
Europe	1 installation

Équipes d'ingénierie et de recherche hautement qualifiées

Depuis 2023, Rogers Corporation emploie 1 047 professionnels de la recherche et de l'ingénierie.

• Tapisseurs de doctorat: 187
• Titulaires de maîtrise: 412
• Titulaires de baccalauréat: 448

Portfolio de propriété intellectuelle étendue

Les actifs totaux de la propriété intellectuelle d'une valeur de 78,3 millions de dollars en 2022.

Type d'actif IP	Nombre	Valeur estimée
Brevets	329	52,4 millions de dollars
Secrets commerciaux	47	15,9 millions de dollars
Marques	24	10 millions de dollars

Infrastructure mondiale de support technique

Rogers Corporation maintient 12 centres de soutien technique à travers 4 continents.

Région	Nombre de centres de soutien
Amérique du Nord	4
Europe	3
Asie	4
Amérique du Sud	1

Rogers Corporation (ROG) - Modèle d'entreprise: propositions de valeur

Matériaux d'ingénierie haute performance pour les applications critiques

Rogers Corporation génère 918,1 millions de dollars de revenus annuels en 2023, en mettant spécifiquement l'accent sur les matériaux avancés dans plusieurs segments technologiques.

Catégorie de matériel	Contribution annuelle des revenus
Matériaux d'ingénierie avancés	412,3 millions de dollars
Électronique électrique & Contrôle	276,5 millions de dollars
Automobile & Transport	229,3 millions de dollars

Solutions personnalisées pour des défis technologiques complexes

Rogers Corporation fournit des solutions matérielles spécialisées dans plusieurs industries.

• Fiabilité de l'électronique automobile: 99,97%
• Solutions de gestion thermique semi-conductrices avec taux de défaillance de 0,001%
• Performance de matériel aérospatial certifié par les normes FAA

Fiabilité et performance supérieures dans des environnements extrêmes

Les mesures de performance matérielle démontrent les capacités technologiques de Rogers Corporation.

Condition environnementale	Tolérance aux performances des matériaux
Plage de température	-55 ° C à + 250 ° C
Résistance à la pression	Jusqu'à 10 000 psi
Exposition aux radiations	Jusqu'à 1 million de rads

Matériaux innovants qui permettent les progrès technologiques

Investissement de la recherche et du développement: 67,4 millions de dollars en 2023, ce qui représente 7,3% des revenus totaux.

• 16 familles de brevets actifs
• 3 nouvelles technologies matérielles développées en 2023
• 5 demandes de brevet internationales en attente

Composants électroniques et semi-conducteurs de pointe

Revenu du segment des composants électroniques: 387,6 ​​millions de dollars en 2023.

Type de composant	Part de marché
Composants RF / micro-ondes	12.5%
Matériaux d'emballage semi-conducteur	8.7%
Matériaux de circuit à haute fréquence	15.3%

Rogers Corporation (ROG) - Modèle d'entreprise: relations clients

Consultation technique et support d'ingénierie

Rogers Corporation fournit Support d'ingénierie directe Dans plusieurs segments de l'industrie, notamment l'automobile, l'aérospatiale et les télécommunications.

Métrique du support client	Performance annuelle
Heures d'assistance technique	4 672 heures
Temps de réponse moyen	2,3 heures
Interactions d'ingénierie client	1 247 consultations directes

Partenariats collaboratifs à long terme

Rogers Corporation maintient des partenariats stratégiques avec les principaux fabricants de technologies.

• Durée du partenariat du secteur automobile: 7-12 ans
• Accords de collaboration aérospatiale: 5 contrats actifs à long terme
• Couverture de partenariat de télécommunications: 62% du marché mondial

Gestion de compte dédiée

Approche de gestion des comptes spécialisée pour les clients au niveau de l'entreprise.

Catégorie de gestion des comptes	Nombre de comptes
Comptes de niveau d'entreprise	87 comptes
Gestionnaires de compte dédiés	42 professionnels
Valeur moyenne du compte	3,4 millions de dollars par an

Optimisation continue des performances du produit

Rogers Corporation investit considérablement dans l'amélioration des performances des produits.

• Investissement annuel de R&D: 47,2 millions de dollars
• Cycles d'amélioration des produits: 3-4 fois par an
• Équipes d'optimisation des performances: 64 ingénieurs

Service client réactif et formation technique

Infrastructure complète du service client soutenant les opérations mondiales.

Métrique du service client	Indicateur de performance
Centres de soutien mondiaux	6 emplacements internationaux
Évaluation de satisfaction du client	94.3%
Sessions de formation technique	237 sessions annuelles

Rogers Corporation (ROG) - Modèle d'entreprise: canaux

Équipe de vente directe

En 2023, Rogers Corporation maintient une équipe de vente directe de 87 professionnels des ventes dédiés dans plusieurs régions géographiques.

Région de vente	Nombre de représentants commerciaux
Amérique du Nord	42
Europe	23
Asie-Pacifique	22

Conférences techniques et expositions de l'industrie

Rogers Corporation participe à 12-15 conférences industrielles majeures chaque année, ciblant les secteurs avancés de l'électronique, de l'automobile et de l'aérospatiale.

• Budget de participation annuelle moyenne de la conférence: 875 000 $
• Taille typique de la cabine d'exposition: 400-600 pieds carrés
• Génération de leads estimée par conférence: 75-120 perspectives qualifiées

Catalogues de produits en ligne et spécifications techniques

La plate-forme de documentation de produits numériques comprend des ressources techniques complètes avec Plus de 3200 feuilles de données techniques téléchargeables.

Type de ressources numériques	Total des documents disponibles
Feuilles techniques techniques	3,247
Vidéos de produits	156
Enregistrements de webinaires	87

Plateformes de marketing numérique

Rogers Corporation exploite plusieurs canaux de marketing numérique avec dépenses publicitaires numériques mensuelles d'environ 215 000 $.

• Budget publicitaire LinkedIn: 85 000 $ / mois
• Investissement sur Google Ads: 62 000 $ / mois
• Plateformes numériques spécifiques à l'industrie: 68 000 $ / mois

Réseaux de distributeurs stratégiques

Rogers Corporation entretient des relations avec 47 partenaires de distribution stratégique dans le monde entier.

Région de distribution	Nombre de distributeurs
Amérique du Nord	18
Europe	14
Asie-Pacifique	15

Rogers Corporation (ROG) - Modèle d'entreprise: segments de clientèle

Fabricants d'électronique automobile

Rogers Corporation sert des fabricants d'électronique automobile avec des matériaux et des composants spécialisés.

Métriques du segment	2023 données
Revenus électroniques automobiles	187,3 millions de dollars
Nombre de clients automobiles	42 fabricants mondiaux
Pénétration du marché	67% des fournisseurs d'électronique automobile de haut niveau

Entrepreneurs en aérospatiale et en défense

Rogers Corporation fournit des matériaux haute performance pour les applications aérospatiales et de défense.

• Les clients clés incluent Lockheed Martin
• Boeing
• Northrop Grumman
• Raytheon Technologies

Métriques du segment	2023 données
Aérospatial & Revenus de défense	223,7 millions de dollars
Valeur de contrat militaire	89,5 millions de dollars

Fournisseurs d'équipements de télécommunications

Rogers Corporation fournit des matériaux avancés pour les infrastructures de télécommunications.

• Fabricants d'équipements réseau 5G
• Fournisseurs d'infrastructures sans fil
• Sociétés de technologie de communication cellulaire

Métriques du segment	2023 données
Revenus de télécommunications	156,4 millions de dollars
Clients mondiaux d'équipement 5G	28 fabricants

Fabricants d'équipements industriels

Rogers Corporation prend en charge les fabricants d'équipements industriels avec des matériaux d'ingénierie spécialisés.

• Équipement de fabrication de semi-conducteurs
• Systèmes d'automatisation industrielle
• Équipement de production d'électricité

Métriques du segment	2023 données
Revenus de l'équipement industriel	142,6 millions de dollars
Nombre de clients industriels	56 fabricants mondiaux

Organisations de recherche en technologie avancée

Rogers Corporation collabore avec les institutions de recherche et les centres de développement technologique.

• Laboratoires nationaux
• Installations de recherche universitaire
• Centres d'innovation technologique

Métriques du segment	2023 données
Contrats de collaboration de recherche	37,2 millions de dollars
Partenariats d'institution de recherche	18 organisations mondiales

Rogers Corporation (ROG) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Rogers Corporation a investi 36,1 millions de dollars dans les frais de recherche et de développement en 2022, ce qui représente 5,4% des revenus totaux.

Année	Investissement en R&D	Pourcentage de revenus
2022	36,1 millions de dollars	5.4%
2021	33,7 millions de dollars	5.2%

Entretien avancé des équipements de fabrication

Les coûts annuels de maintenance des équipements pour Rogers Corporation étaient d'environ 8,2 millions de dollars en 2022.

• Dépenses en capital: 45,3 millions de dollars en 2022
• Cycle de remplacement de l'équipement de fabrication: 5-7 ans
• Budget de maintenance préventive: 3,6 millions de dollars par an

Achat spécialisé de matières premières

Les coûts d'approvisionnement en matières premières pour Rogers Corporation ont totalisé 187,4 millions de dollars en 2022.

Catégorie de matériel	Coût d'achat annuel
Polymères spécialisés	64,2 millions de dollars
Céramique avancée	52,7 millions de dollars
Composants électroniques	70,5 millions de dollars

Recrutement et rétention des talents techniques

Les dépenses totales de ressources humaines en 2022 étaient de 214,6 millions de dollars.

• Salaire moyen de l'ingénieur: 125 000 $ par an
• Budget de formation des employés: 4,3 millions de dollars
• Total de main-d'œuvre: 1 829 employés

Infrastructure opérationnelle mondiale

Les coûts mondiaux des infrastructures opérationnels pour Rogers Corporation ont atteint 62,9 millions de dollars en 2022.

Région	Dépenses opérationnelles
Amérique du Nord	28,4 millions de dollars
Europe	19,5 millions de dollars
Asie-Pacifique	15,0 millions de dollars

Rogers Corporation (ROG) - Modèle d'entreprise: Strots de revenus

Contrats d'ingénierie des matériaux personnalisés

Revenus de contrat d'ingénierie des matériaux personnalisés en 2022: 287,4 millions de dollars

Type de contrat	Revenu 2022	Pourcentage du total
Électronique avancée	126,3 millions de dollars	44%
Électronique électrique	89,5 millions de dollars	31%
Matériaux spécialisés d'ingénierie	71,6 millions de dollars	25%

Ventes de composants hautes performances

Ventes totales de composants hautes performances en 2022: 412,6 millions de dollars

• Composants automobiles: 168,2 millions de dollars
• Infrastructure de télécommunications: 124,7 millions de dollars
• Composants d'équipement industriel: 119,7 millions de dollars

Licence des technologies propriétaires

Revenu total de licences en 2022: 53,8 millions de dollars

Catégorie de technologie	Revenus de licence
Matériaux électroniques	27,4 millions de dollars
Technologie de l'électronique de puissance	26,4 millions de dollars

Services de consultation technique

Revenus de consultation technique totale en 2022: 41,2 millions de dollars

• Conseil en aérospatial: 16,5 millions de dollars
• Défense Consulting Technology: 14,7 millions de dollars
• Conseil des matériaux avancés: 10,0 millions de dollars

Solutions de fabrication spécialisées

Revenus de fabrication spécialisés totaux en 2022: 336,9 millions de dollars

Segment de fabrication	Revenu	Taux de croissance
Circuit Circuit Citch Banking Manufacturing	142,3 millions de dollars	8.2%
Composants électroniques de précision	124,6 millions de dollars	7.5%
Production de matériaux d'ingénierie	70,0 millions de dollars	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.