Camtek initial 2027 revenue outlook exceeds $800M
Management's initial 2027 outlook calls for revenue above $800 million, alongside approximately $180 million expected in Q4 2026.
Sentiment and the balance of points
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Rhea-AI Filing Summary
Camtek Ltd. reported preliminary, unaudited third-quarter 2026 revenue of $161.3 million, up 28% from $126.0 million a year earlier. GAAP net income was $42.8 million, compared with a $53.2 million net loss in Q3 2025; non-GAAP net income was $50.3 million, up 23% from $40.9 million. GAAP gross profit was $80.6 million, or 50.0% of revenue, versus $63.0 million a year earlier. GAAP operating income was $39.8 million, up 25% from $31.8 million, while non-GAAP operating income was $47.5 million, up 26% from $37.6 million.
Management expects Q4 revenue of approximately $180 million, representing approximately 40% year-over-year growth, and full-year 2026 revenue of approximately $595 million. Its initial outlook for 2027 is revenue exceeding $800 million, approximately 35% growth over 2026, supported by strong order backlog and sales pipeline. Cash, cash equivalents, short-term deposits and marketable securities totaled $877.1 million as of September 30, 2026, compared with $815.8 million as of June 30, 2026.
How this balance works
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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 increased 28% to $161.3 million year over year.
- Moderate pointGAAP net income was $42.8 million, versus a $53.2 million loss.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Management's initial 2027 outlook exceeds $800 million, approximately 35% growth.
Negative
- None.
Filing Explained
The balance sheet reports 46,725,239 ordinary shares outstanding at
Key Figures
Key Terms
non-GAAP financial measures financial
Advanced Interconnect Packaging technical
Heterogeneous Integration technical
HBM technical
metrology technical
FAQ
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the Month of November 2026
CAMTEK LTD.
(Translation of Registrant’s Name into English)
Ramat Gavriel
Industrial Zone
P.O. Box 544
Migdal Haemek 23150
ISRAEL
(Address of Principal Corporate Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities and Exchange Act of 1934.
Yes ☐ No ☒
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. This Form 6-K, including all exhibits hereto, is hereby incorporated by reference into all effective registration statements filed by the registrant under the Securities Act of 1933.
| CAMTEK LTD. (Registrant) By: /s/ Moshe Eisenberg —————————————— Moshe Eisenberg, Chief Financial Officer |
Dated: November 4, 2026
 |
Camtek Ltd. P.O.Box 544, Ramat Gabriel Industrial Park Migdal Ha’Emek 23150, ISRAEL Tel: +972 (4) 604-8100 Fax: +972 (4) 644-0523 E-Mail: Info@camtek.com Web site: http://www.camtek.com |
|
CAMTEK LTD. Moshe Eisenberg, CFO Tel: +972 4 604 8308 Mobile: +972 54 900 7100 moshee@camtek.com |
INTERNATIONAL INVESTOR RELATIONS EK Global Investor Relations Ehud Helft camtek@ekgir.com |
FOR IMMEDIATE RELEASE
CAMTEK ANNOUNCES RESULTS
FOR THE THIRD QUARTER OF 2026
Q3 record revenues of $161.3 million; Expects revenues of ~$180 million in Q4 2026;
Initial outlook of over $800 million in 2027
MIGDAL HAEMEK, Israel – November 4, 2026 – Camtek Ltd. (NASDAQ: CAMT; TASE: CAMT), today announced its financial results for the third quarter ended September 30, 2026.
2026 Third Quarter Financial Highlights
| · | Record revenues of $161.3 million, a 21% QoQ increase; |
| · | GAAP gross margin of 50.0% and non-GAAP gross margin of 51.1%; |
| · | GAAP operating income of $39.8 million and non-GAAP operating income of $47.5 million, representing operating margins of 24.7% and 29.5%, respectively; |
| · | GAAP net income of $42.8 million and non-GAAP net income of $50.3 million; GAAP diluted EPS of $0.84 and non-GAAP diluted EPS of $0.99; and |
| · | Strong positive operating cash flow of $71.1 million in the quarter. |
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 $180 million, representing approximately 40% year-over-year growth and bringing full-year 2026 revenue to approximately $595 million.
As previously announced, management provided initial outlook for 2027 revenue to exceed $800 million, representing growth of approximately 35% over 2026, supported by strong order backlog and sales pipeline.
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 great confidence in our outlook and trajectory.”
Third Quarter 2026 Financial Results
Revenues for the third quarter of 2026 were $161.3 million. This compares to third quarter 2025 revenues of $126.0 million, a year-over-year growth of 28%.
Gross profit on a GAAP basis in the quarter totaled $80.6 million (50.0% of revenues), an increase of 28% compared to $63.0 million (50.0% of revenues) in the third quarter of 2025.
Gross profit on a non-GAAP basis in the quarter totaled $82.3 million (51.1% of revenues), an increase of 27% compared to $64.9 million (51.5% of revenues) in the third quarter of 2025.
Operating income on a GAAP basis in the quarter totaled $39.8 million (24.7% of revenues), an increase of 25% compared to $31.8 million (25.3% of revenues) in the third quarter of 2025.
Operating income on a non-GAAP basis in the quarter totaled $47.5 million (29.5% of revenues), an increase of 26% compared to $37.6 million (29.9% of revenues) in the third quarter of 2025.
Net income on a GAAP basis in the quarter totaled $42.8 million, or $0.84 per diluted share, compared to a net loss of $53.2 million, or $1.16 per diluted share, in the third quarter of 2025.
Net income on a non-GAAP basis in the quarter totaled $50.3 million, or $0.99 per diluted share, an increase of 23% compared to a non-GAAP net income of $40.9 million, or $0.82 per diluted share, in the third quarter of 2025.
Cash and cash equivalents, short-term deposits and marketable securities, as of September 30, 2026, were $877.1 million compared to $815.8 million as of June 30, 2026. During the third quarter, the Company generated an operating cash flow of $71.1 million.
Conference Call
Camtek will host a video conference call/webinar today via Zoom, on November 4, 2026, at 09:00 ET (16:00 Israel time). Rafi Amit, CEO, Moshe Eisenberg, CFO, and Ramy Langer, COO will host the call and will be available to answer questions after presenting the results.
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.
CAMTEK LTD. and its subsidiaries
Condensed Interim Consolidated Balance Sheets (Unaudited)
(In thousands)
| September 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| U.S. Dollars | ||||||||
| 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 | ||||||
| Liabilities and shareholders’ equity | ||||||||
| Current liabilities | ||||||||
| Trade accounts payable | 59,690 | 33,676 | ||||||
| Other current liabilities | 96,091 | 73,749 | ||||||
| Total current liabilities | 155,781 | 107,425 | ||||||
| Long-term liabilities | ||||||||
| Deferred tax liabilities, net | - | 1,261 | ||||||
| Other long-term liabilities | 15,768 | 14,311 | ||||||
| Convertible notes | 489,184 | 519,833 | ||||||
| Total long-term liabilities | 504,952 | 535,405 | ||||||
| Total liabilities | 660,733 | 642,830 | ||||||
| Commitments and contingencies | ||||||||
| Shareholders’ equity | ||||||||
| Ordinary shares NIS 0.01 par value, 100,000,000 shares authorized at September 30, 2026 and at December 31, 2025; | ||||||||
| 48,817,615 issued shares at September 30, 2026 and 47,920,509 at December 31, 2025; | ||||||||
| 46,725,239 shares outstanding at September 30, 2026 and 45,828,133 at December 31, 2025 | 181 | 178 | ||||||
| Additional paid-in capital | 278,570 | 231,892 | ||||||
| Accumulated other comprehensive income (loss) | (6,702 | ) | 287 | |||||
| Retained earnings | 484,329 | 386,544 | ||||||
| 756,378 | 618,901 | |||||||
| Treasury stock, at cost (2,092,376 shares as of September 30, 2026 and December 31, 2025) | (1,898 | ) | (1,898 | ) | ||||
| Total shareholders' equity | 754,480 | 617,003 | ||||||
| Total liabilities and shareholders' equity | 1,415,213 | 1,259,833 | ||||||
CAMTEK LTD. and its subsidiaries
Condensed Interim Consolidated Statement of Income (unaudited)
(in thousands)
| Nine months ended September 30, | Three months ended September 30, | Year ended December 31, | ||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2025 | ||||||||||||||||
| U.S. dollars | U.S. dollars | U.S. dollars | ||||||||||||||||||
| Revenues | 416,196 | 367,948 | 161,294 | 125,993 | 496,072 | |||||||||||||||
| Cost of revenues | 207,963 | 181,731 | 80,692 | 62,951 | 245,755 | |||||||||||||||
| Gross profit | 208,233 | 186,217 | 80,602 | 63,042 | 250,317 | |||||||||||||||
| 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 | |||||||||||||||
| Operating income | 94,329 | 96,519 | 39,836 | 31,845 | 128,203 | |||||||||||||||
| Financial income, net | 22,216 | 16,901 | 7,090 | 6,526 | 25,064 | |||||||||||||||
| Other expenses | - | (100,932 | ) | - | (100,932 | ) | (100,932 | ) | ||||||||||||
| Income (loss) before income taxes | 116,545 | 12,488 | 46,926 | (62,561 | ) | 52,335 | ||||||||||||||
| 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: | Nine months ended September 30, | Three months ended September 30, | Year ended December 31, | |||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2025 | ||||||||||||||||
| U.S. dollars | U.S. dollars | U.S. dollars | ||||||||||||||||||
| Basic net earnings (loss) per share (in US dollars) | 2.10 | 0.32 | 0.92 | (1.16 | ) | 1.11 | ||||||||||||||
| Diluted net earnings (loss) per share (in US dollars) | 1.94 | 0.32 | 0.84 | (1.16 | ) | 1.04 | ||||||||||||||
| Weighted average number of | ||||||||||||||||||||
| ordinary shares outstanding: | ||||||||||||||||||||
| Basic | 46,566 | 45,655 | 46,705 | 45,755 | 45,703 | |||||||||||||||
| Diluted | 51,462 | 49,502 | 51,498 | 45,755 | 49,970 | |||||||||||||||
CAMTEK LTD. and its subsidiaries
Reconciliation of GAAP To Non-GAAP results
(In thousands, except share data)
| Nine months ended September 30, | Three months ended September 30, | Year ended December 31, | ||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2025 | ||||||||||||||||
| U.S. dollars | U.S. dollars | U.S. dollars | ||||||||||||||||||
| Reported net income attributable to Camtek Ltd. on GAAP basis | 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 | |||||||||||||||
| 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 to Camtek Ltd. on GAAP basis | 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 $4.7 million, consisting of: (1) inventory written-up to fair value in purchase accounting charges of $0.5 million. This amount is recorded under cost of revenues line item. (2) $1.8 million amortization of intangible assets acquired recorded under cost of revenues line item. (3) $0.3 million of compensation-related expenses recorded under research and development expenses line item. (4) $0.2 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (5) $2.6 million one-time M&A expenses recorded under G&A line item. (6) $0.8 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the three-month period ended September 30, 2026, the Company recorded acquisition-related expenses of $0.6 million, consisting of: (1) $0.6 million amortization of intangible assets acquired recorded under cost of revenues line item. (2) $0.2 million of compensation-related expenses recorded under research and development expenses line item. (3) $0.1 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $0.2 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the nine-month period ended September 30, 2025, the Company recorded acquisition-related expenses of $2.3 million, consisting of: (1) inventory written-up to fair value in purchase accounting charges of $0.5 million. This amount is recorded under cost of revenues line item. (2) $1.8 million amortization of intangible assets acquired recorded under cost of revenues line item. (3) $1.0 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $1.0 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the three-month period ended September 30, 2025, the Company recorded acquisition-related expenses of $1.0 million, consisting of: (1) inventory written-up to fair value in purchase accounting charges of $0.5 million. This amount is recorded under cost of revenues line item. (2) $0.6 million amortization of intangible assets acquired recorded under cost of revenues line item. (3) $0.3 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $0.4 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the year ended December 31, 2025, the Company recorded acquisition-related expenses of $2.8 million, consisting of: (1) inventory written-up to fair value in purchase accounting charges of $0.5 million. This amount is recorded under cost of revenues line item. (2) $2.4 million amortization of intangible assets acquired recorded under cost of revenues line item. (3) $1.1 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $1.2 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
(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 $88.7 million, consisting of: (1) $100.9 million from the extinguishment of Capital Notes recorded under the other expenses line item. (2) $12.3 million tax benefit recorded under the income tax benefit line item.