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 first quarter of 2025. The report highlights the company's financial performance and operational activities amidst a challenging market environment.

Financial Highlights

Total Revenue: $192.6 million, reflecting a decrease of 23.7% compared to the same period in 2024 due to a decline in system sales.

Gross Profit: $88.8 million, with a gross margin of 46.1%, slightly up from 46.0% in the prior year, driven by a favorable mix of system revenue.

Income from Operations: $29.2 million, representing a decrease from $56.5 million in the previous year, primarily due to lower revenue.

Net Income: $28.6 million, down from $51.6 million in the prior year, impacted by reduced sales and increased operating expenses.

Net Income Per Share: Basic $0.89, Diluted $0.88, compared to Basic $1.58, Diluted $1.57 in the previous year, reflecting the decrease in net income.

Business Highlights

Revenue Segments: The company's revenue is divided into Systems and Aftermarket categories. Systems revenue, which includes sales of new systems, was $137.6 million for the three months ended March 31, 2025, compared to $195.5 million for the same period in 2024. Aftermarket revenue, which includes spare parts, product upgrades, used equipment, and services, was $55.0 million, compared to $56.9 million in the prior year period.

Geographical Performance: Revenue from the Asia Pacific region was $134.4 million for the three months ended March 31, 2025, down from $188.2 million in the same period in 2024. North America generated $40.5 million in revenue, compared to $45.5 million in the prior year. European revenue was $17.6 million, slightly down from $18.7 million in 2024.

Sales Units: The mature process segment accounted for 86% of shipped systems revenue, with power device shipments comprising 39% of total systems revenue. The general mature segment, including image sensor applications, represented 47% of systems revenue.

Future Outlook: The company is developing plans to mitigate the impact of geopolitical trade and tariff uncertainties by leveraging its global supply chain and manufacturing footprint. Management believes maintaining a strong cash balance is necessary to fund potential growth opportunities and meet sudden demand increases.

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