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Amtech Systems returned to profitability in the March 31, 2026 quarter as demand improved and prior-year charges rolled off. Net revenue rose to $20.5 million, up from $15.6 million a year earlier, driven mainly by higher Thermal Processing Solutions shipments for AI-related advanced packaging and power devices. Gross margin expanded to 48% from negative 2% as product mix improved and last year’s inventory write-downs did not recur. Net income was $1.2 million, compared with a loss of $31.8 million that had included $22.9 million of goodwill and intangible impairments. For the first six months, revenue was $39.4 million with net income of $1.3 million. Cash and cash equivalents increased to $24.4 million, and the current ratio remained a solid 2.9:1, indicating ample liquidity. New orders grew 24% to $41.8 million year-to-date and backlog increased to $22.3 million, reflecting strong Thermal Processing Solutions bookings, particularly in Asia for AI applications.
Amtech Systems reported a strong fiscal 2026 second quarter, with net revenue of $20.5 million, up 8% from the prior quarter and 31% from a year earlier, driven by demand for AI-related equipment. GAAP gross margin improved to 47.7%, compared with (2.1)% in the prior-year quarter.
GAAP net income was $1.2 million, or $0.08 per diluted share, versus a GAAP net loss of $31.8 million a year ago. Non-GAAP net income was $1.5 million. Cash and cash equivalents rose to $24.4 million from $17.9 million at September 30, 2025.
New customer orders were $21.1 million and backlog was $22.3 million. For the third fiscal quarter ending June 30, 2026, the company expects revenues between $20.5 million and $22.5 million and adjusted EBITDA margin in the low double digits.
Amtech Systems, Inc. appointed Thomas Sabol as Chief Financial Officer, effective May 14, 2026, reporting to the CEO. He will also serve as principal accounting officer and principal financial officer, replacing interim CFO Mark Weaver.
Under his offer letter, Sabol will receive a $350,000 annual base salary and be eligible for an annual incentive bonus targeting 50% of base salary, paid 60% in cash and 40% in restricted stock. He is to receive 45,000 stock options vesting in three equal annual installments, along with severance of twelve months of base salary and full vesting of equity upon a Change in Control, and three months of base salary if terminated without Cause.
Amtech Systems, Inc. filed a shelf registration to offer up to $50.0 million of securities, including common stock, preferred stock, debt securities, warrants and units, to be sold from time to time. The shelf permits multiple types of offerings; specific terms, amounts and pricing will be provided in prospectus supplements.
The company’s common stock is listed on the Nasdaq Global Select Market under the symbol ASYS. The articles of incorporation authorize 100,000,000 shares of common stock and 100,000,000 shares of preferred stock. Offerings under this prospectus will be subject to any applicable prospectus supplements and distribution methods described in the registration statement.
Amtech Systems, Inc. director Michael M. Ludwig reported equity awards tied to company stock. On March 5, 2026, he exercised or converted 8,081 Restricted Stock Units into 8,081 shares of Amtech Systems, Inc. common stock at a stated price of $0.00 per share.
After this transaction, his directly held common stock position was 33,069 shares. On March 4, 2026, he also received a grant of 2,839 Restricted Stock Units at a stated price of $0.00 per unit, each representing the contingent right to receive one share of Amtech Systems, Inc. common stock.
Amtech Systems director Asif Y. Jakwani reported equity-based award activity in company stock. On March 5, 2026, he exercised 8,081 restricted stock units at $0.00 per share, receiving 8,081 shares of Amtech Systems common stock directly.
Following this conversion, he directly held 8,081 shares of common stock. Separately, on March 4, 2026, he was granted 2,839 restricted stock units, each representing a contingent right to receive one Amtech common share, leaving 2,839 restricted stock units outstanding after these transactions.
Amtech Systems director and 10% owner Robert M. Averick reported equity compensation activity involving restricted stock units and common shares. On March 4, 2026, he was granted 2,839 restricted stock units at a price of $0, increasing his restricted stock unit holdings to 10,920 as of that date.
On March 5, 2026, 8,081 restricted stock units vested and were exercised/converted into 8,081 shares of common stock on a one-for-one basis at $0 per share, bringing his directly held common stock to 707,341 shares. Footnotes indicate that entities described as the Kokino Family Clients beneficially own 2,250,000 common shares, and additional common shares are held by his spouse, which are reported as indirect ownership.
Amtech Systems director Michael Garnreiter reported equity-award activity involving restricted stock units and common shares. On March 4, he received a grant of 2,839 restricted stock units, each representing a contingent right to one share of Amtech Systems common stock.
On March 5, he exercised or converted 8,081 restricted stock units at a price of $0.00 per unit, acquiring 8,081 shares of Amtech Systems common stock. Following these transactions, he held 2,839 restricted stock units and 38,569 common shares, all reported as directly owned.
Amtech Systems, Inc. reported the results of its 2026 Annual Meeting of Shareholders. Shareholders elected five directors—Robert C. Daigle, Asif Jakwani, Robert M. Averick, Michael Garnreiter, and Michael M. Ludwig—to one-year terms on the board.
As of January 13, 2026, 14,394,885 common shares were outstanding and eligible to vote, and 10,468,896 shares, or 72.73%, were represented at the meeting. Shareholders also ratified KPMG LLP as independent auditor for the fiscal year ending September 30, 2026 and approved, on an advisory basis, the compensation of the named executive officers.