Axcelis Announces Financial Results for Fourth Quarter and Full Year 2025
Rhea-AI Summary
Axcelis (Nasdaq: ACLS) reported Q4 2025 revenue of $238.3 million, GAAP gross margin of 47.0% and GAAP diluted EPS of $1.10. Full-year 2025 revenue was $839.0 million with GAAP EPS of $3.80. Management cited record CS&I revenue, >$100 million in free cash flow, and >$120 million returned to shareholders. Axcelis reiterated a pending merger with Veeco and provided Q1 2026 outlook of ~$195 million revenue, GAAP EPS ~$0.38, and non-GAAP EPS ~$0.71.
Positive
- Record CS&I quarter in Q4 2025
- Generated more than $100 million of free cash flow in 2025
- Returned more than $120 million of capital to shareholders in 2025
Negative
- Full-year revenue declined ~17.6% YoY to $839.0 million
- Full-year net income fell from $201.0 million to $120.2 million (~40% decline)
- Full-year GAAP diluted EPS decreased from $6.15 to $3.80
- Q1 2026 revenue outlook of ~$195 million is below Q4 2025 revenue
Market Reaction
Following this news, ACLS has declined 13.71%, reflecting a significant negative market reaction. Our momentum scanner has triggered 15 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $85.00. This price movement has removed approximately $480M from the company's valuation.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.
Key Figures
Market Reality Check
Peers on Argus
ACLS was up 4.43% with strong volume while key peers showed mixed but mostly positive moves: FORM +3.42%, IPGP +4.30%, CAMT +3.34%, AMBA +2.05%, and KLIC slightly down 0.43%. Peer momentum scanners did not flag a coordinated sector move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 04 | Q3 2025 earnings | Positive | -2.7% | Strong Q3 2025 results with record CS&I revenue and solid margins. |
| Aug 05 | Q2 2025 earnings | Positive | +10.1% | Q2 2025 resilience with solid margins and $45M share repurchases. |
| May 06 | Q1 2025 earnings | Negative | +5.0% | Q1 2025 revenue and net income declined amid continued market challenges. |
| Feb 10 | Q4/FY 2024 earnings | Neutral | -12.3% | FY 2024 revenue down but margins improved; digestion period commentary. |
| Nov 06 | Q3 2024 earnings | Negative | -1.0% | Q3 2024 profit and margins softened despite flat revenue versus Q2. |
Earnings reactions have been modest on average (-0.17%), with several instances of the stock moving opposite the apparent news tone.
Recent earnings for Axcelis show revenue trending lower from full-year 2024 to 2025, but generally resilient quarterly performance and solid margins. Prior quarters in 2025 highlighted cash strength, record CS&I revenue, and share repurchases, yet price reactions often remained muted or even negative after seemingly constructive reports. Against this backdrop, the latest Q4/FY 2025 results and Q1 2026 outlook fit into a pattern of cyclical digestion with selective strength in aftermarket and margins.
Historical Comparison
In the past 5 earnings releases, ACLS averaged a -0.17% move with mixed reactions to both positive and negative reports. Today’s +4.43% post-Q4/FY 2025 move is stronger than typical recent earnings responses.
Earnings from late 2024 through 2025 show revenue down from prior-year levels but with generally solid gross margins and recurring references to cyclical digestion, now paired with Q4 strength and a defined Q1 2026 outlook.
Market Pulse Summary
The stock is dropping -13.7% following this news. A negative reaction despite Q4 revenue of $238 million and non-GAAP EPS of $1.49 would fit prior patterns where earnings news sometimes saw downside. Past reports averaged around -0.17% the next day, with several divergences from apparent fundamentals. In that context, investors would likely have focused on full-year 2025 revenue of $839.0 million versus $1,017.9 million in 2024 and net income compression when judging the outlook.
Key Terms
gaap financial
non-gaap financial
adjusted ebitda financial
free cash flow financial
AI-generated analysis. Not financial advice.
Q4 Highlights:
- Revenue of
$238 million - GAAP Gross Margin of
47.0% , and Non-GAAP Gross Margin of47.3% - GAAP Operating Margin of
15.2% and Non-GAAP Operating Margin of21.1% - GAAP Diluted Earnings Per Share of
$1.10 $1.49
President and CEO Russell Low commented, "Axcelis exited 2025 on a strong note with fourth quarter results that exceeded our outlook. We achieved another record quarter of CS&I revenue, reflecting the strength of our growing installed base and our strategic focus on driving upgrades and service contracts. We continue to execute with discipline, particularly as our customers navigate a mixed demand environment in Power and General Mature markets. At the same time, we are encouraged by the improving demand trends in our Memory market and expect this momentum to continue in 2026."
"We continue working toward closing our pending merger with Veeco and remain confident in the compelling prospects and potential of the combined company. Together, we expect to be even better positioned to capitalize on the secular growth trends driven by AI, electrification, and next generation device architectures — and expect to leverage complementary strengths across our portfolios and teams to deliver greater value for all of our stakeholders".
Executive Vice President and Chief Financial Officer Jamie Coogan stated, "We closed the year with strong financial execution in the fourth quarter, highlighted by record CS&I performance and gross margins above expectations. These results reflect operational discipline, favorable mix, and the strength of our aftermarket strategy. For the full year, we delivered double digit CS&I growth, expanded gross margins, and generated more than
Results Summary | |||||||||||||||
Three months ended December 31, | Twelve months ended December 31, | ||||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||||
Revenue | $ | 238,330 | $ | 252,417 | $ | 839,048 | $ | 1,017,865 | |||||||
Gross margin | 47.0 % | 46.0 % | 44.9 % | 44.7 % | |||||||||||
Operating margin | 15.2 % | 21.6 % | 14.2 % | 20.7 % | |||||||||||
Net income | $ | 34,297 | $ | 49,956 | $ | 120,238 | $ | 200,992 | |||||||
Diluted earnings per share | $ | 1.10 | $ | 1.54 | $ | 3.80 | $ | 6.15 | |||||||
Non-GAAP Results
| Three months ended December 31, | Twelve months ended December 31, | |||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||||
Non-GAAP gross margin | 47.3 % | 46.3 % | 45.2 % | 44.9 % | |||||||||||
Non-GAAP operating margin | 21.1 % | 24.2 % | 19.0 % | 23.3 % | |||||||||||
Adjusted EBITDA | $ | 54,650 | $ | 65,299 | $ | 176,724 | $ | 253,088 | |||||||
Non-GAAP net income | $ | 46,352 | $ | 55,547 | $ | 154,463 | $ | 223,769 | |||||||
Non-GAAP diluted earnings per share | $ | 1.49 | $ | 1.71 | $ | 4.88 | $ | 6.84 | |||||||
Business Outlook
For the first quarter ending March 31, 2026, Axcelis expects revenues of approximately
Please refer to First Quarter 2026 Outlook under the "Notes on our Non-GAAP Financial Information" section of this document for detail relating to the computation of non-GAAP earnings per diluted share as well as the Safe Harbor Statement section of this document.
Fourth Quarter and Full Year 2025 Conference Call
The Company will host a call to discuss the results for the fourth quarter and full year 2025 today at 5:00 p.m. ET. The call will be available via webcast that can be accessed through the Investors page of Axcelis' website at www.axcelis.com, or by registering as a participant here:
https://register-conf.media-server.com/register/BIfd551cd8408c4503b0229e94192ef512
Webcast replays will be available for 30 days following the call.
Use of Non-GAAP Financial Results
This press release includes financial measures that are not presented in accordance with
Reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are provided in the financial tables included in this release.
For further information regarding these non-GAAP financial measures, please refer to the tables presenting reconciliations of our non-GAAP results to our GAAP results and the "Notes on Our Non-GAAP Financial Information" at the end of this press release.
Safe Harbor Statement
This press release contains, and the conference call will contain, forward-looking statements under the Private Securities Litigation Reform Act safe harbor provisions. These statements, which include our expectations for spending in our industry and guidance for future financial performance, are based on management's current expectations and should be viewed with caution. They are subject to various risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are outside the control of the Company, including that customer decisions to place orders or our product shipments may not occur when we expect, that orders may not be converted to revenue in any particular quarter, or at all, whether demand will continue for the semiconductor equipment we produce or, if not, whether we can successfully meet changing market requirements, and whether we will be able to maintain continuity of business relationships with and purchases by major customers and, with respect to the potential transaction with Veeco, failure to obtain applicable regulatory approvals in a timely manner or otherwise; failure to satisfy other closing conditions to the proposed transaction or to complete the proposed transaction on anticipated terms and timing; negative effects of the announcement of the proposed transaction; risks that the businesses will not be integrated successfully or that the combined company will not realize expected benefits, cost savings, accretion, synergies and/or growth, or that such benefits may take longer to realize or may be more costly to achieve than expected; the risk that disruptions from the proposed transaction will harm business plans and operations; risks relating to unanticipated costs of integration; significant transaction and/or integration costs, or difficulties in connection with the proposed transaction and/or unknown or inestimable liabilities; restrictions during the pendency of the proposed transaction that may impact the ability to pursue certain business opportunities or strategic transactions; potential litigation associated with the proposed transaction; the potential impact of the announcement or consummation of the proposed transaction on the Company's, Veeco's or the combined company's relationships with suppliers, customers, employees and regulators; and demand for the combined company's products. Actual results may differ materially from those projected in such statements due to various factors, including but not limited to: economic, political and social conditions in the countries in which the Company and Veeco, their respective customers and suppliers operate; disruption to the Company's and Veeco's respective manufacturing facilities or other operations, or the operations of Company's and Veeco's respective customers and suppliers, due to natural catastrophic events, health epidemics or terrorism; ongoing changes in the technology industry, and the semiconductor industry in particular, including future growth rates, pricing trends in end-markets, or changes in customer capital spending patterns; the Company's, Veeco's and the combined company's ability to timely develop new technologies and products that successfully anticipate or address changes in the semiconductor industry; the Company's, Veeco's and the combined company's ability to maintain their respective technology advantage and protect their respective proprietary rights; the Company's, Veeco's and the combined company's ability to compete with new products introduced by their respective competitors; the Company's, Veeco's and the combined company's ability or the ability of their respective customers to obtain
About Axcelis
Axcelis (Nasdaq: ACLS), headquartered in
CONTACTS:
Investor Relations Contact:
David Ryzhik
Senior Vice President, Investor Relations and Corporate Strategy
Telephone: (978) 787-2352
Email: David.Ryzhik@axcelis.com
Press/Media Relations Contact:
Maureen Hart
Senior Director, Corporate & Marketing Communications
Telephone: (978) 787-4266
Email: Maureen.Hart@axcelis.com
Axcelis Technologies, Inc. Consolidated Statements of Operations (In thousands, except per share amounts) (Unaudited) | |||||||||||||
Three months ended | Twelve months ended | ||||||||||||
December 31, | December 31, | ||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||
Revenue: | |||||||||||||
Product | $ | 224,601 | $ | 241,254 | $ | 792,045 | $ | 976,881 | |||||
Services | 13,729 | 11,163 | 47,003 | 40,984 | |||||||||
Total revenue | 238,330 | 252,417 | 839,048 | 1,017,865 | |||||||||
Cost of revenue: | |||||||||||||
Product | 110,745 | 125,402 | 412,786 | 524,451 | |||||||||
Services | 15,653 | 10,792 | 49,414 | 38,760 | |||||||||
Total cost of revenue | 126,398 | 136,194 | 462,200 | 563,211 | |||||||||
Gross profit | 111,932 | 116,223 | 376,848 | 454,654 | |||||||||
Operating expenses: | |||||||||||||
Research and development | 30,126 | 27,654 | 108,958 | 105,497 | |||||||||
Sales and marketing | 19,403 | 16,563 | 65,368 | 68,046 | |||||||||
General and administrative | 26,231 | 17,475 | 83,207 | 70,317 | |||||||||
Total operating expenses | 75,760 | 61,692 | 257,533 | 243,860 | |||||||||
Income from operations | 36,172 | 54,531 | 119,315 | 210,794 | |||||||||
Other income (expense): | |||||||||||||
Interest income | 4,936 | 6,277 | 21,484 | 24,403 | |||||||||
Interest expense | (1,336) | (1,444) | (5,364) | (5,462) | |||||||||
Other, net | 246 | (719) | 2,814 | 539 | |||||||||
Total other income | 3,846 | 4,114 | 18,934 | 19,480 | |||||||||
Income before income taxes | 40,018 | 58,645 | 138,249 | 230,274 | |||||||||
Income tax provision | 5,721 | 8,689 | 18,011 | 29,282 | |||||||||
Net income | $ | 34,297 | $ | 49,956 | $ | 120,238 | $ | 200,992 | |||||
Net income per share: | |||||||||||||
Basic | $ | 1.11 | $ | 1.54 | $ | 3.81 | $ | 6.17 | |||||
Diluted | $ | 1.10 | $ | 1.54 | $ | 3.80 | $ | 6.15 | |||||
Shares used in computing net income per share: | |||||||||||||
Basic weighted average shares of common stock | 30,925 | 32,424 | 31,574 | 32,552 | |||||||||
Diluted weighted average shares of common | 31,123 | 32,514 | 31,668 | 32,704 | |||||||||
Axcelis Technologies, Inc. Consolidated Balance Sheets (In thousands, except per share amounts) (Unaudited) | |||||||
December 31, | December 31, | ||||||
2025 | 2024 | ||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 145,451 | $ | 123,512 | |||
Short-term investments | 228,802 | 447,831 | |||||
Accounts receivable, net | 168,479 | 203,149 | |||||
Inventories, net | 329,010 | 282,225 | |||||
Prepaid income taxes | 4,658 | 6,420 | |||||
Prepaid expenses and other current assets | 66,802 | 60,471 | |||||
Total current assets | 943,202 | 1,123,608 | |||||
Property, plant and equipment, net | 56,146 | 53,784 | |||||
Operating lease assets | 28,927 | 29,621 | |||||
Finance lease assets, net | 14,154 | 15,346 | |||||
Long-term restricted cash | 10,627 | 7,552 | |||||
Deferred income taxes | 79,895 | 68,277 | |||||
Long-term investments | 182,396 | — | |||||
Other assets | 46,004 | 50,593 | |||||
Total assets | $ | 1,361,351 | $ | 1,348,781 | |||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 42,309 | $ | 46,928 | |||
Accrued compensation | 34,233 | 25,536 | |||||
Warranty | 9,516 | 13,022 | |||||
Income Taxes | 11,383 | — | |||||
Deferred revenue | 65,494 | 94,673 | |||||
Current portion of finance lease obligation | 1,575 | 1,345 | |||||
Other current liabilities | 33,150 | 26,018 | |||||
Total current liabilities | 197,660 | 207,522 | |||||
Long-term finance lease obligation | 40,754 | 42,329 | |||||
Long-term deferred revenue | 43,445 | 43,501 | |||||
Other long-term liabilities | 44,815 | 42,639 | |||||
Total liabilities | 326,674 | 335,991 | |||||
Stockholders' equity: | |||||||
Common stock, | 31 | 32 | |||||
Additional paid-in capital | 533,309 | 548,654 | |||||
Retained earnings | 503,539 | 470,318 | |||||
Accumulated other comprehensive loss | (2,202) | (6,214) | |||||
Total stockholders' equity | 1,034,677 | 1,012,790 | |||||
Total liabilities and stockholders' equity | $ | 1,361,351 | $ | 1,348,781 | |||
Axcelis Technologies, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) | ||||||||||||||||||
Three months ended | Twelve months ended | |||||||||||||||||
December 31, | December 31, | |||||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||||
Cash flows from operating activities | ||||||||||||||||||
Net income | $ | 34,297 | $ | 49,956 | $ | 120,238 | $ | 200,992 | ||||||||||
Adjustments to reconcile net income to net cash provided by operating | ||||||||||||||||||
Depreciation and amortization | 4,461 | 4,267 | 17,613 | 15,809 | ||||||||||||||
Stock-based compensation expense | 5,105 | 5,380 | 20,773 | 20,951 | ||||||||||||||
Other | (5,351) | (442) | (9,461) | (11,532) | ||||||||||||||
Change in other assets and liabilities, net | (45,079) | (46,381) | (30,858) | (85,402) | ||||||||||||||
Net cash (used in) provided by operating activities | (6,567) | 12,780 | 118,305 | 140,818 | ||||||||||||||
Cash flows from investing activities | ||||||||||||||||||
Expenditures for property, plant and equipment and capitalized | (2,335) | (4,658) | (11,295) | (12,181) | ||||||||||||||
Other changes in investing activities, net | (4,972) | 13,779 | 41,222 | (96,545) | ||||||||||||||
Net cash (used in) provided by investing activities | (7,307) | 9,121 | 29,927 | (108,726) | ||||||||||||||
Cash flows from financing activities | ||||||||||||||||||
Repurchase of common stock | (25,231) | (15,131) | (121,081) | (60,489) | ||||||||||||||
Other changes from financing activities, net | 610 | 588 | (3,412) | (10,703) | ||||||||||||||
Net cash used in financing activities | (24,621) | (14,543) | (124,493) | (71,192) | ||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | (554) | (3,013) | 1,275 | (3,787) | ||||||||||||||
Net (decrease) increase in cash, cash equivalents and restricted cash | (39,049) | 4,345 | 25,014 | (42,887) | ||||||||||||||
Cash, cash equivalents and restricted cash at beginning of period | 195,127 | 126,719 | 131,064 | 173,951 | ||||||||||||||
Cash, cash equivalents and restricted cash at end of period | $ | 156,078 | $ | 131,064 | $ | 156,078 | $ | 131,064 | ||||||||||
Notes on Our Non-GAAP Financial Information
Management uses non-GAAP gross profit, gross margin, operating income, operating margin, income tax provision, net income, diluted earnings per share, and Adjusted EBITDA to evaluate the Company's operating and financial performance and for planning purposes. Axcelis believes these measures enhance an overall understanding of its performance and investors' ability to review the Company's business from the same perspective as the Company's management.
There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by other companies, and may exclude certain items that may have a material impact upon our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP.
Totals presented may not sum and percentages may not recalculate using figures presented due to rounding.
Axcelis Technologies, Inc. Schedule Reconciling Selected Non-GAAP Financial Measures (In thousands, except per share amounts) | |||||||||||||||||||||
Three months ended December 31, | Twelve months ended December 31, | ||||||||||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||||||||||
GAAP gross Profit | $ | 111,932 | $ | 116,223 | $ | 376,848 | $ | 454,654 | |||||||||||||
Restructuring1 | 293 | 256 | 519 | 1,132 | |||||||||||||||||
Stock-based compensation | 443 | 399 | 1,864 | 1,505 | |||||||||||||||||
Non-GAAP gross profit | $ | 112,668 | $ | 116,878 | $ | 379,231 | $ | 457,291 | |||||||||||||
Non-GAAP gross margin | 47.3 % | 46.3 % | 45.2 % | 44.9 % | |||||||||||||||||
GAAP operating expense | $ | 75,760 | $ | 61,692 | $ | 257,533 | $ | 243,860 | |||||||||||||
Transaction and integration3 | (7,541) | - | (16,296) | - | |||||||||||||||||
Bad debt expense | - | (3) | - | (2,987) | |||||||||||||||||
Restructuring1 | (1,078) | (862) | (2,208) | (1,414) | |||||||||||||||||
Stock-based compensation | (4,662) | (4,981) | (18,909) | (19,446) | |||||||||||||||||
Non-GAAP operating expense | $ | 62,479 | $ | 55,846 | $ | 220,120 | $ | 220,013 | |||||||||||||
GAAP operating income | $ | 36,172 | $ | 54,531 | $ | 119,315 | $ | 210,794 | |||||||||||||
Transaction and integration3 | 7,541 | - | 16,296 | - | |||||||||||||||||
Bad debt expense | - | 3 | - | 2,987 | |||||||||||||||||
Restructuring1 | 1,371 | 1,118 | 2,727 | 2,546 | |||||||||||||||||
Stock-based compensation | 5,105 | 5,380 | 20,773 | 20,951 | |||||||||||||||||
Non-GAAP operating income | $ | 50,189 | $ | 61,032 | $ | 159,111 | $ | 237,278 | |||||||||||||
Non-GAAP operating margin | 21.1 % | 24.2 % | 19.0 % | 23.3 % | |||||||||||||||||
GAAP income tax provision | $ | 5,721 | $ | 8,689 | $ | 18,011 | $ | 29,282 | |||||||||||||
Income tax effect of non-GAAP | 1,962 | 910 | 5,571 | 3,708 | |||||||||||||||||
Non-GAAP income tax provision | $ | 7,683 | $ | 9,599 | $ | 23,582 | $ | 32,990 | |||||||||||||
GAAP net income | $ | 34,297 | $ | 49,956 | $ | 120,238 | $ | 200,992 | |||||||||||||
Transaction and integration3 | 7,541 | - | 16,296 | - | |||||||||||||||||
Bad debt expense | - | 3 | - | 2,987 | |||||||||||||||||
Restructuring1 | 1,371 | 1,118 | 2,727 | 2,547 | |||||||||||||||||
Stock-based compensation | 5,105 | 5,380 | 20,773 | 20,951 | |||||||||||||||||
Income tax effect of non-GAAP | (1,962) | (910) | (5,571) | (3,708) | |||||||||||||||||
Non-GAAP net income | $ | 46,352 | $ | 55,547 | $ | 154,463 | $ | 223,769 | |||||||||||||
GAAP diluted EPS | $ | 1.10 | $ | 1.54 | $ | 3.80 | $ | 6.15 | |||||||||||||
Transaction and integration3 | 0.24 | - | 0.51 | - | |||||||||||||||||
Bad debt expense | - | - | - | 0.09 | |||||||||||||||||
Restructuring1 | 0.05 | 0.03 | 0.09 | 0.07 | |||||||||||||||||
Stock-based compensation | 0.16 | 0.17 | 0.66 | 0.64 | |||||||||||||||||
Income tax effect of non-GAAP | (0.06) | (0.03) | (0.18) | (0.11) | |||||||||||||||||
Non-GAAP diluted EPS | $ | 1.49 | $ | 1.71 | $ | 4.88 | $ | 6.84 | |||||||||||||
Note 1: Restructuring and other costs primarily related to early retirement programs and severance costs, due to global cost-saving initiatives. |
Note 2: Impact of taxes from non-GAAP adjustments, uses adjusted tax rate of |
Note 3: Transaction and integration costs include expenses associated with the merger agreement with Veeco Instruments, announced on October 1, 2025. |
Axcelis Technologies, Inc. Reconciliation of Net Income to Adjusted EBITDA (In thousands, except percentages) | ||||||||||||||||||
Three months ended December 31, | Twelve months ended December 31, | |||||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||||
Net Income | $ | 34,297 | $ | 49,956 | $ | 120,238 | $ | 200,992 | ||||||||||
Other (income)/expense | (3,846) | (4,114) | (18,934) | (19,480) | ||||||||||||||
Income tax provision | 5,721 | 8,689 | 18,011 | 29,282 | ||||||||||||||
Depreciation & amortization | 4,461 | 4,267 | 17,613 | 15,809 | ||||||||||||||
Subtotal | 40,633 | 58,798 | 136,928 | 226,603 | ||||||||||||||
Transaction and integration2 | 7,541 | - | 16,296 | - | ||||||||||||||
Bad debt expense | - | 3 | - | 2,987 | ||||||||||||||
Restructuring1 | 1,371 | 1,118 | 2,727 | 2,547 | ||||||||||||||
Stock-based compensation | 5,105 | 5,380 | 20,773 | 20,951 | ||||||||||||||
Adjusted EBITDA | $ | 54,650 | $ | 65,299 | $ | 176,724 | $ | 253,088 | ||||||||||
Adjusted EBITDA margin | 22.9 % | 25.9 % | 21.1 % | 24.9 % | ||||||||||||||
Note 1: Restructuring and other costs primarily related to early retirement programs and severance costs, due to global cost-saving initiatives. |
Note 2: Transaction and integration costs include expenses associated with the merger agreement with Veeco Instruments, announced on October 1, 2025. |
Axcelis Technologies, Inc. First Quarter 2026 Outlook GAAP to Non-GAAP Diluted Earnings Per Share | ||
Three months ended March 31, 2026 | ||
GAAP diluted EPS | $ | 0.38 |
Transaction and Integration2 | 0.22 | |
Restructuring3 | - | |
Stock-based compensation | 0.16 | |
Income tax effect of non-GAAP adjustments1 | (0.05) | |
Non-GAAP diluted EPS | $ | 0.71 |
Note 1: Impact of taxes from non-GAAP adjustments, uses adjusted tax rate of |
Note 2: Transaction and Integration costs include expenses associated with the merger agreement with Veeco Instruments, announced on October 1, 2025. |
Note 3: Restructuring and other costs primarily related to early retirement programs and severance costs, due to global cost-saving initiatives. |
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SOURCE Axcelis Technologies, Inc.
FAQ
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