Amtech Systems Reports Third Quarter Fiscal 2025 Results

Amtech Systems, Inc., a manufacturer of equipment and consumables for semiconductor fabrication and packaging, has released its financial results for the third quarter of fiscal 2025, ending June 30, 2025. The company reported a notable performance improvement compared to the previous quarter, driven by strong demand in the advanced packaging market and stabilizing demand within the mature-node semiconductor market.

Financial Highlights

Amtech reported net revenue of $19.6 million for the third quarter, a 26% increase from the previous quarter's $15.6 million. The company's GAAP net income stood at $0.1 million, or 1 cent per diluted share, compared to a GAAP net loss of $31.8 million, or 2.23 cents per share, in the preceding quarter. Non-GAAP net income was $0.9 million, or 6 cents per share, compared to a non-GAAP net loss of $2.3 million, or 16 cents per share, in the previous quarter.

Business and Operational Highlights

Amtech's Thermal Processing Solutions and Semiconductor Fabrication Solutions segments both exceeded forecasts. The company saw a significant increase in customer orders, totaling $21.7 million, and maintained a backlog of $21.2 million. The increase in revenue was primarily driven by strong demand in Asia for reflow ovens used in AI applications, despite a 27% year-over-year decrease in revenue due to continued weakness in the mature node semiconductor market.

Strategic Initiatives and Corporate Developments

Over the past 18 months, Amtech has optimized its operating model, resulting in $13 million in annualized savings. The company has focused on operational cash generation, strong accounts receivable collections, and benefiting from an Employee Retention Credit (ERC) refund. These efforts have led to an increase in unrestricted cash and cash equivalents to $15.6 million as of June 30, 2025, up from $11.1 million at the end of September 2024.

Management's Perspective

Bob Daigle, Chief Executive Officer of Amtech, expressed satisfaction with the company's performance, highlighting the 26% sequential revenue growth and the progress made in optimizing the operating model. Daigle emphasized the company's focus on improving operating leverage and making targeted investments in product and application development to drive profitable growth in the future.

Future Outlook

For the fiscal fourth quarter ending September 30, 2025, Amtech expects revenues to range between $17 million and $19 million. The company anticipates growth in AI-related equipment sales within its Thermal Processing Solutions segment to partially offset continued softness in mature node semiconductor product lines. Amtech aims to deliver improved operating leverage and adjusted EBITDA margins in the mid-single digits, focusing on further efficiency gains and cost optimization.

SEC Filing: AMTECH SYSTEMS INC [ ASYS ] - 8-K - Aug. 06, 2025