CAMTEK ANNOUNCES RESULTS FOR THE THIRD QUARTER OF 2026
The initial 2027 revenue outlook exceeds $800 million, following expected fourth-quarter revenue of approximately $180 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Camtek (CAMT) reported record third-quarter 2026 revenue of $161.3 million, with earnings returning to profit from a year-earlier loss. Revenue rose 28% year over year and 21% sequentially. GAAP net income was $42.8 million, or $0.84 per diluted share, versus a $53.2 million loss, or $1.16 per share. GAAP operating income increased 25% to $39.8 million, while operating margin fell to 24.7% from 25.3%. Gross margin remained 50.0%.
Adjusted net income was $50.3 million, or $0.99 per diluted share. Operating cash flow totaled $71.1 million; cash, deposits and marketable securities reached $877.1 million, versus $815.8 million at June 30. Camtek expects approximately $180 million in fourth-quarter revenue and gives an initial 2027 revenue outlook above $800 million. Nine-month GAAP operating income declined to $94.329 million from $96.519 million. Results are preliminary and unaudited.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointQ3 revenue of $161.3 million rose 28% year over year and 21% sequentially.
- Moderate pointQ3 GAAP net income of $42.8 million reversed a $53.2 million year-earlier loss.
- Moderate pointQ3 GAAP operating income rose 25% to $39.8 million, despite margin falling to 24.7% from 25.3%.
- Moderate pointQ3 operating cash flow totaled $71.1 million.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Q4 2026 revenue is expected at approximately $180 million.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Initial 2027 revenue outlook exceeds $800 million.
12 minor points
- Minor pointQ3 GAAP diluted EPS of $0.84 compared with a year-earlier loss of $1.16.
- Minor pointQ3 GAAP gross profit rose 28% to $80.6 million, with gross margin unchanged at 50.0%.
- Minor pointQ3 adjusted net income rose 23% to $50.3 million; adjusted diluted EPS increased to $0.99 from $0.82.
- Minor pointQ3 adjusted operating income rose 26% to $47.5 million, despite margin falling to 29.5% from 29.9%.
- Minor pointQ3 adjusted gross profit rose 27% to $82.3 million, despite margin falling to 51.1% from 51.5%.
- Minor pointCash, deposits and marketable securities reached $877.1 million, versus $815.8 million at June 30, 2026.
- Minor pointNine-month revenue increased to $416.196 million from $367.948 million a year earlier.
- Minor pointNine-month GAAP net income increased to $97.785 million from $14.825 million a year earlier.
- Minor pointNine-month GAAP diluted EPS increased to $1.94 from $0.32 a year earlier.
- Minor pointNine-month adjusted net income increased to $124.998 million from $118.361 million; adjusted diluted EPS reached $2.45 versus $2.42.
- Minor pointNine-month adjusted operating income increased to $114.611 million from $112.344 million a year earlier.
- Minor pointConvertible notes declined to $489.184 million at September 30, 2026, from $519.833 million at December 31, 2025.
Negative
- Moderate pointNine-month GAAP operating income declined to $94.329 million from $96.519 million a year earlier.
- Moderate pointTrade receivables increased to $166.239 million at September 30, 2026, from $90.829 million at December 31, 2025.
- Minor pointNine-month GAAP gross margin fell to 50.0% from 50.6%; adjusted gross margin fell to 51.1% from 51.8%.
- Minor pointQ3 research and development expenses increased to $17.913 million from $13.453 million a year earlier.
- Minor pointQ3 selling, general and administrative expenses increased to $22.853 million from $17.744 million a year earlier.
6 minor points
- Minor pointQ3 share-based compensation increased to $5.701 million from $4.383 million a year earlier.
- Minor pointQ3 facilities restructuring expense totaled $1.118 million.
- Minor pointNine-month one-time tax expenses totaled $7.7 million.
- Minor pointNine-month acquisition-related expenses totaled $4.699 million, versus $2.268 million a year earlier.
- Minor pointOutstanding shares increased to 46,725,239 at September 30, 2026, from 45,828,133 at December 31, 2025.
- Minor pointResults are preliminary and unaudited and may differ from audited results.
News Explained
With its Q3 results, Camtek reported 46,725,239 ordinary shares outstanding at
Key Figures
- Revenue
- $161.3 million
- Q3 2026; record, up 21% QoQ
- Revenue growth
- 28%
- Q3 2026 year over year
- Q4 revenue outlook
- ~$180 million
- Q4 2026
- 2027 revenue outlook
- over $800 million
- Initial outlook
- GAAP net income
- $42.8 million
- Q3 2026; compared with a $53.2 million net loss in Q3 2025
- Non-GAAP diluted EPS
- $0.99
- Q3 2026; compared with $0.82 in Q3 2025
- Operating cash flow
- $71.1 million
- Q3 2026
- Cash, deposits and marketable securities
- $877.1 million
- As of September 30, 2026
Previous Earnings Reports
-
Reported $133.2 million revenue and 8% year-over-year growth with positive non-GAAP income.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
GAAP financial
non-GAAP financial
convertible notes financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Q3 record revenues of
MIGDAL HAEMEK,
2026 Third Quarter Financial Highlights
- Record revenues of
, a$161.3 million 21% QoQ increase; - GAAP gross margin of
50.0% and non-GAAP gross margin of51.1% ; - GAAP operating income of
and non-GAAP operating income of$39.8 million , representing operating margins of$47.5 million 24.7% and29.5% , respectively; - GAAP net income of
and non-GAAP net income of$42.8 million ; GAAP diluted EPS of$50.3 million and non-GAAP diluted EPS of$0.84 ; and$0.99 - Strong positive operating cash flow of
in the quarter.$71.1 million
Forward-Looking Expectations
Management reiterates the guidance it provided in conjunction with its investor and analyst breakfast event held in October. Management expects continued growth in the fourth quarter with revenues of approximately
As previously announced, management provided initial outlook for 2027 revenue to exceed
Management Comment
Rafi Amit, Camtek's CEO, commented: "Our record third-quarter results reflect the exceptional strength of our business and the sustained momentum that continues into the fourth quarter of 2026 and extends well into 2027.
These results further reinforce the key messages we shared at our recent Investor and Analyst Breakfast event. Camtek operates in some of the fastest-growing segments of the semiconductor industry, particularly high-end advanced packaging driven by the rapidly expanding demand for AI.
Since the event, our business momentum continued across all key indicators, further reinforcing our confidence in achieving our business targets."
Concluded Mr. Amit, "For the first time in our history, we have visibility a year ahead giving us confidence in our growth outlook and trajectory."
Third Quarter 2026 Financial Results
Revenues for the third quarter of 2026 were
Gross profit on a GAAP basis in the quarter totaled
Gross profit on a non-GAAP basis in the quarter totaled
Operating income on a GAAP basis in the quarter totaled
Operating income on a non-GAAP basis in the quarter totaled
Net income on a GAAP basis in the quarter totaled
Net income on a non-GAAP basis in the quarter totaled
Cash and cash equivalents, short-term deposits and marketable securities, as of September 30, 2026, were
Conference Call
Camtek will host a video conference call/webinar today via Zoom, on November 4, 2026, at 09:00 ET (16:00
To participate in the webinar, please register using the following link, which will provide access to the video call: https://us06web.zoom.us/webinar/register/WN_A25RpmzhT76YdX-pp3Jrwg
For those wishing to listen via phone, following registration, the dial in link will be sent. For any problems in registering, please email Camtek's investor relations a few hours in advance of the call.
For those unable to participate, a recording will be available on Camtek's website at http://www.camtek.com within a few hours after the call.
A summary presentation of the quarterly results will also be available on Camtek's website.
ABOUT CAMTEK LTD.
Camtek is a developer and manufacturer of high-end inspection and metrology equipment for the semiconductor industry. Camtek's systems inspect IC and measure IC features on wafers throughout the production process of semiconductor devices, covering the front and mid-end and up to the beginning of assembly (Post Dicing). Camtek's systems inspect wafers for the most demanding semiconductor market segments, including Advanced Interconnect Packaging, Heterogeneous Integration, Memory and HBM, CMOS Image Sensors, Compound Semiconductors, MEMS, and RF, serving numerous industries' leading global IDMs, OSATs, and foundries.
With manufacturing facilities in Israel and Germany, and eight offices around the world, Camtek provides state of the art solutions in line with customers' requirements.
This press release is available at http://www.camtek.com
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on Camtek's current beliefs, expectations and assumptions about its business and industry, all of which may change. Forward-looking statements can be identified by the use of words including "believe," "anticipate," "should," "intend," "plan," "will," "may," "expect," "estimate," "project," "positioned," "strategy," and similar expressions that are intended to identify forward-looking statements, including our expectations and statements relating to our future earnings and guidance, the compound semiconductors market and our position in this market. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Camtek to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause our actual results to differ materially from those contained in the forward-looking statements include, but are not limited to, risks related to the ongoing hostilities in the Middle East; the impact of disruptions to global shipment and supply chain, including but not limited to increased risk and disruption around the Strait of Hormuz, and broader impacts on energy and freight markets; the continued demand and future contribution of HBM and Chiplet applications and devices to the Company business resulting from, among other things, the field of AI surging worldwide across companies, industries and nations; formal or informal imposition by countries of new or revised export and/or import and doing-business regulations or sanctions, including but not limited to changes in U.S. trade policies, changes or uncertainty related to the U.S. government entity list and changes in the ability to sell products incorporating U.S originated technology, which can be made without prior notice, and our ability to effectively address such global trade issues and changes; risks related to fluctuations in foreign currency exchange rates; and those other factors discussed in our Annual Report on Form 20-F as published on March 19, 2026, as well as other documents filed by the Company with the SEC as well as other documents that may be subsequently filed by Camtek from time to time with the Securities and Exchange Commission. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Camtek does not assume any obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release unless required by law.
While we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. In addition, any forward-looking statements represent Camtek's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Camtek does not assume any obligation to update any forward-looking statements unless required by law.
This press release provides financial measures that exclude: (i) share based compensation expenses; (ii) acquisition related expenses; (iii) restructuring of facilities expenses; and (iv) one-time tax expenses and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when evaluating the business internally and therefore felt it is important to make these non-GAAP adjustments available to investors. A reconciliation between the GAAP and non-GAAP results appears in the tables at the end of this press release. The results reported in this press-release are preliminary unaudited results, and investors should be aware of possible discrepancies between these results and the audited results to be reported, due to various factors.
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CAMTEK LTD. and its subsidiaries |
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Condensed Interim Consolidated Balance Sheets (Unaudited) |
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(In thousands) |
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September 30, |
December 31, |
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2026 |
2025 |
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|
|
|
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Assets |
|
|
|||
|
Current assets |
|
|
|||
|
Cash and cash equivalents |
280,647 |
177,848 |
|||
|
Short-term deposits |
255,990 |
411,450 |
|||
|
Marketable securities |
69,884 |
78,862 |
|||
|
Trade accounts receivable, net |
166,239 |
90,829 |
|||
|
Inventories |
105,255 |
112,202 |
|||
|
Other current assets |
33,733 |
25,804 |
|||
|
Total current assets |
911,748 |
896,995 |
|||
|
|
|
|
|||
|
Marketable securities |
270,567 |
182,941 |
|||
|
Long-term inventory |
17,790 |
15,569 |
|||
|
Deferred tax asset, net |
12,937 |
12,933 |
|||
|
Other assets, net |
1,976 |
1,881 |
|||
|
Property, plant and equipment, net |
61,497 |
55,090 |
|||
|
Right of use assets, net |
9,930 |
10,017 |
|||
|
Intangible assets, net |
16,031 |
10,062 |
|||
|
Goodwill |
112,737 |
74,345 |
|||
|
Total non-current assets |
503,465 |
362,838 |
|||
|
Total assets |
1,415,213 |
1,259,833 |
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Liabilities and shareholders' equity |
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Current liabilities |
|
|
|||
|
Trade accounts payable |
59,690 |
33,676 |
|||
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Other current liabilities |
96,091 |
73,749 |
|||
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Total current liabilities |
155,781 |
107,425 |
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Long-term liabilities |
|
|
|||
|
Deferred tax liabilities, net |
- |
1,261 |
|||
|
Other long-term liabilities |
15,768 |
14,311 |
|||
|
Convertible notes |
489,184 |
519,833 |
|||
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Total long-term liabilities |
504,952 |
535,405 |
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Total liabilities |
660,733 |
642,830 |
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Commitments and contingencies |
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Shareholders' equity |
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Ordinary shares NIS 0.01 par value, 100,000,000 shares authorized at |
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48,817,615 issued shares at September 30, 2026 and 47,920,509 at |
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46,725,239 shares outstanding at September 30, 2026 and 45,828,133 |
181 |
178 |
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Additional paid-in capital |
278,570 |
231,892 |
|||
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Accumulated other comprehensive income (loss) |
(6,702) |
287 |
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|
Retained earnings |
484,329 |
386,544 |
|||
|
|
756,378 |
618,901 |
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Treasury stock, at cost (2,092,376 shares as of September 30, 2026 |
(1,898) |
(1,898) |
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|
Total shareholders' equity |
754,480 |
617,003 |
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Total liabilities and shareholders' equity |
1,415,213 |
1,259,833 |
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CAMTEK LTD. and its subsidiaries |
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Condensed Interim Consolidated Statement of Income (unaudited) |
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(in thousands) |
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Nine months |
Three months |
Year ended |
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2026 |
2025 |
2026 |
2025 |
2025 |
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|
|
|
|
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Revenues |
|
416,196 |
367,948 |
161,294 |
125,993 |
496,072 |
|
Cost of revenues |
|
207,963 |
181,731 |
80,692 |
62,951 |
245,755 |
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|
|
|
|
|
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Gross profit |
|
208,233 |
186,217 |
80,602 |
63,042 |
250,317 |
|
|
|
|
|
|
|
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Operating expenses: |
|
|
|
|
|
|
|
Research and development |
|
48,920 |
35,289 |
17,913 |
13,453 |
48,345 |
|
Selling, general and administrative |
|
64,984 |
54,409 |
22,853 |
17,744 |
73,769 |
|
Total operating expenses |
|
113,904 |
89,698 |
40,766 |
31,197 |
122,114 |
|
|
|
|
|
|
|
|
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Operating income |
|
94,329 |
96,519 |
39,836 |
31,845 |
128,203 |
|
|
|
|
|
|
|
|
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Financial income, net |
|
22,216 |
16,901 |
7,090 |
6,526 |
25,064 |
|
Other expenses |
|
- |
(100,932) |
- |
(100,932) |
(100,932) |
|
|
|
|
|
|
|
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Income (loss) before income taxes |
|
116,545 |
12,488 |
46,926 |
(62,561) |
52,335 |
|
|
|
|
|
|
|
|
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Income tax benefit (expense) |
|
(18,760) |
2,337 |
(4,091) |
9,380 |
(1,613) |
|
|
|
|
|
|
|
|
|
Net income (loss) |
|
97,785 |
14,825 |
42,835 |
(53,181) |
50,722 |
|
Earnings (loss) per share information: |
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|
|
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Nine months ended |
Three months ended September 30, |
Year ended December 31, |
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2026 |
2025 |
2026 |
2025 |
2025 |
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Basic net earnings (loss) per share |
2.10 |
0.32 |
0.92 |
(1.16) |
1.11 |
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Diluted net earnings (loss) per share |
1.94 |
0.32 |
0.84 |
(1.16) |
1.04 |
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|
|
|
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Weighted average number of |
|
|
|
|
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ordinary shares outstanding: |
|
|
|
|
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|
|
|
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|
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Basic |
46,566 |
45,655 |
46,705 |
45,755 |
45,703 |
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|
|
|
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Diluted |
51,462 |
49,502 |
51,498 |
45,755 |
49,970 |
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CAMTEK LTD. and its subsidiaries |
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Reconciliation of GAAP To Non-GAAP results |
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(In thousands, except share data) |
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Nine Months ended September 30, |
Three Months ended |
Year ended December 31, |
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2026 |
2025 |
2026 |
2025 |
2025 |
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|
|
|
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|
Reported net income attributable to
|
97,785 |
14,825 |
42,835 |
(53,181) |
50,722 |
|
Acquisition-related expenses (1) |
4,699 |
2,268 |
640 |
968 |
2,801 |
|
One-time Tax expenses |
7,700 |
- |
- |
- |
- |
|
Restructuring of facilities |
1,118 |
- |
1,118 |
- |
- |
|
Loss from extinguishment of Capital Notes (2) |
- |
88,682 |
- |
88,682 |
88,682 |
|
Share-based compensation |
13,696 |
12,586 |
5,701 |
4,383 |
16,819 |
|
Non-GAAP net income |
124,998 |
118,361 |
50,294 |
40,852 |
159,024 |
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|
|
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Non-GAAP net income per diluted share
|
2.45 |
2.42 |
0.99 |
0.82 |
3.26 |
|
Gross margin on GAAP basis |
50.0 % |
50.6 % |
50.0 % |
50.0 % |
50.4 % |
|
Reported gross profit on GAAP basis |
208,233 |
186,217 |
80,602 |
63,042 |
250,317 |
|
Acquisition-related expenses (1) |
2,812 |
2,285 |
1,105 |
1,065 |
2,895 |
|
Share-based compensation |
1,777 |
2,094 |
638 |
750 |
2,806 |
|
Non-GAAP gross profit |
212,822 |
190,596 |
82,345 |
64,857 |
256,018 |
|
Non-GAAP gross margin |
51.1 % |
51.8 % |
51.1 % |
51.5 % |
51.6 % |
|
|
|
|
|
|
|
|
Reported operating income attributable |
94,329 |
96,519 |
39,836 |
31,845 |
128,203 |
|
Acquisition-related expenses (1) |
6,586 |
3,239 |
1,966 |
1,383 |
4,000 |
|
Share-based compensation |
13,696 |
12,586 |
5,701 |
4,383 |
16,819 |
|
Non-GAAP operating income |
114,611 |
112,344 |
47,503 |
37,611 |
149,022 |
(1) During the nine-month period ended September 30, 2026, the Company recorded acquisition-related expenses of
During the three-month period ended September 30, 2026, the Company recorded acquisition-related expenses of
During the nine-month period ended September 30, 2025, the Company recorded acquisition-related expenses of
During the three-month period ended September 30, 2025, the Company recorded acquisition-related expenses of
During the year ended December 31, 2025, the Company recorded acquisition-related expenses of
(2) During the nine-month and three-month periods ended September 30, 2025 and the year ended December 31, 2025, the Company recorded a loss of
CAMTEK LTD.
Moshe Eisenberg, CFO
Tel: +972 4 604 8308
Mobile: +972 54 900 7100
moshee@camtek.com
Camtek Ltd.
P.O.Box 544, Ramat Gabriel Industrial Park
Tel: +972 (4) 604-8100 Fax: +972 (4) 644-0523
E-Mail: Info@camtek.com Web site: http://www.camtek.com
INTERNATIONAL INVESTOR RELATIONS
EK Global Investor Relations
Ehud Helft
Tel: (US) 1 212 378 8040
camtek@ekgir.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/camtek-announces-results-for-the-third-quarter-of-2026-302929209.html
SOURCE Camtek Ltd.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Camtek's third-quarter 2026 revenue and earnings?
Camtek reported $161.3 million in revenue and GAAP net income of $42.8 million, or $0.84 per diluted share. Revenue increased 28% year over year and 21% sequentially. The year-earlier quarter recorded a GAAP net loss of $53.2 million, or $1.16 per diluted share.
What is Camtek's revenue outlook for Q4 2026 and 2027?
Camtek expects fourth-quarter 2026 revenue of approximately $180 million and gives an initial 2027 revenue outlook of over $800 million. These figures are forward-looking expectations, not completed results.