AXCELIS TECHNOLOGIES INC SEC 10-Q Report

Axcelis Technologies Inc., a leading provider of innovative, high-productivity solutions for the semiconductor industry, has released its Form 10-Q report for the third quarter of 2025. The report highlights the company's financial performance and operational activities during the period, providing insights into its revenue streams, geographical performance, and future outlook.

Financial Highlights

• Total Revenue: $213.6 million, a decrease of 16.7% compared to the same period in 2024, primarily due to a decrease in system sales.
• Gross Profit: $88.8 million, representing a gross margin of 41.5%, slightly lower than the 42.8% margin in the prior year period.
• Income from Operations: $25.0 million, reflecting a decrease from $46.9 million in the same period in 2024, due to lower revenue and increased operating expenses.
• Net Income: $26.0 million, down from $48.6 million in the same period in 2024, impacted by decreased sales and higher operating expenses.
• Net Income Per Share (Basic): $0.83, compared to $1.49 in the same period in 2024, reflecting the decrease in net income.
• Net Income Per Share (Diluted): $0.83, compared to $1.49 in the same period in 2024, consistent with the basic EPS.

Business Highlights

• Revenue Segments: The company divides its revenue into two main categories: Systems and Aftermarket. For the three months ended September 30, 2025, Systems revenue was $143.7 million, and Aftermarket revenue was $69.9 million.
• Geographical Performance: The Asia Pacific region was the largest contributor to revenue, accounting for $161.4 million in the three months ended September 30, 2025. North America and Europe contributed $29.2 million and $23.1 million, respectively.
• Customer Segments: The mature process segment represented 93% of shipped systems revenue, with power device shipments comprising 55% of total systems revenue. The general mature segment, including image sensor applications, represented 38% of systems revenue.
• Sales Units: The company experienced a decrease in system sales, which was the primary driver for the reduction in product revenue for the three months ended September 30, 2025, compared to the same period in 2024.
• Future Outlook: The company anticipates that the geopolitical environment and trade regulations will continue to impact its operations. However, it does not expect the recent U.S. Department of Commerce's Affiliates Rule to materially affect its China-based revenues.
• Merger Announcement: On September 30, 2025, the company announced a merger agreement with Veeco Instruments Inc., which is expected to close in the second half of 2026, subject to regulatory and stockholder approvals.

SEC Filing: AXCELIS TECHNOLOGIES INC [ ACLS ] - 10-Q - Nov. 06, 2025