Axcelis Technologies, Inc. (NASDAQ:ACLS) Q3 2023 Earnings Conference Call November 2, 2023 8:30 AM ET Company Participants Doug Lawson - Executive Vice President, Corporate Marketing and Strategy Russell Low - President and Chief Executive Officer Jamie Coogan - Executive Vice President and Chief Financial Officer Conference Call Participants Charles Shi - Needham & Company David Duley - Steelhead Securities Craig Ellis - B. Riley Securities Mark Miller - The Benchmark Company Jed Dorsheimer - William Blair ...

Revenue Performance - Total revenue for the three months ended September 30, 2023, was $292.3 million, a 27.6% increase from $229.2 million in the same period of 2022[76] - Product revenue was $283.4 million, representing 96.9% of total revenue, up 27.9% from $221.5 million in the prior year[77] - Services revenue increased to $9.0 million, or 3.1% of total revenue, compared to $7.6 million, or 3.3% of total revenue, in the same period last year[81] - Total revenue for the nine months ended September 30, 2023, was $820.3 million, a 25.4% increase from $653.9 million in the same period of 2022[76] - The company's ten largest customers accounted for 55.1% of total revenue for the nine months ended September 30, 2023[70] Profitability Metrics - Gross profit for the three months ended September 30, 2023, was $129.7 million, a 25.5% increase from $103.3 million in the same period of 2022[86] - The gross margin for product revenue was 45.4% for the three months ended September 30, 2023, down from 46.3% in the same period of 2022[86] - Gross margin from product revenue decreased to 44.1% for the nine months ended September 30, 2023, down from 45.8% in the same period of 2022[89] - Gross margin from services revenue decreased to 10.6% for the nine months ended September 30, 2023, compared to 12.1% for the same period in 2022[89] - The company reported an income before income taxes of 25.2% for the three months ended September 30, 2023, compared to 19.6% in the same period of 2022[75] Expenses Overview - Research and development expenses increased by 28.0% to $72.0 million for the nine months ended September 30, 2023, compared to $56.3 million in the same period of 2022[94] - Sales and marketing expenses rose by 19.7% to $46.1 million for the nine months ended September 30, 2023, compared to $38.6 million in the same period of 2022[96] - General and administrative expenses increased by 17.9% to $48.5 million for the nine months ended September 30, 2023, compared to $41.2 million in the same period of 2022[98] - Total operating expenses for the nine months ended September 30, 2023, were $166.7 million, representing 20.3% of revenue, compared to $136.0 million, or 20.8% of revenue, in the same period of 2022[90] - Personnel costs accounted for 59.6% of total operating expenses for the nine months ended September 30, 2023, compared to 61.0% in the same period of 2022[91] Cash Flow and Investments - Operating cash flow for the nine months ended September 30, 2023, was $91.3 million, compared to $93.2 million for the same period in 2022[105] - Cash outflows from investing activities for the nine months ended September 30, 2023, totaled $74.2 million, including $10.5 million for capital expenditures and $271.6 million for short-term investments[106] - Cash outflows from investing activities for the nine months ended September 30, 2022, were $40.5 million, with $6.9 million for capital expenditures[106] - Financing activities for the nine months ended September 30, 2023, resulted in cash usage of $53.2 million, with $37.5 million used for stock repurchases[107] - Financing activities for the nine months ended September 30, 2022, resulted in cash usage of $53.1 million, with $45.0 million for stock repurchases[107] Financial Position - The company had $142.3 million in unrestricted cash and cash equivalents and $318.7 million in short-term investments as of September 30, 2023[104] - The company believes its existing cash and cash equivalents will be sufficient to meet anticipated cash requirements for both the short- and long-term[111] - As of September 30, 2023, a letter of credit of $5.9 million remains outstanding, securing the lease on the corporate headquarters[111] - The company terminated its Senior Secured Credit Facilities Credit Agreement on April 5, 2023, which had a revolving credit facility of up to $40.0 million[108] Other Financial Information - Other income was $2.0 million for the three months ended September 30, 2023, compared to an expense of $8.2 million in the same period of 2022, marking a $10.2 million change[100] - Income tax provision increased by 63.9% to $7.7 million for the three months ended September 30, 2023, compared to $4.7 million in the same period of 2022[101] - 94% of shipments during the first nine months of 2023 were to mature foundry/logic customers, indicating a strong demand in this segment[71] - There have been no material changes to market risk disclosures as of September 30, 2023[113] - Significant commitments and contingencies as of September 30, 2023, are consistent with previous disclosures[112]

Axcelis Technologies Inc. (NASDAQ:ACLS) Q2 2023 Earnings Call Transcript August 3, 2023 8:30 AM ET Company Participants Doug Lawson - Executive Vice President of Corporate Marketing and Strategy Russell Low - CEO, President and Director Kevin Brewer - Executive VP and CFO Conference Call Participants Ethan Widell - B. Riley Securities Jonathan Dorsheimer - William Blair Tom Diffely - D.A. Davidson Nicolas Doyle - Needham David Duley - Steelhead Securities Mark Miller - The Benchmark Company Operator Good da ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-30941 AXCELIS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 34-1818596 (State or other juris ...

Axcelis Technologies, Inc. (NASDAQ:ACLS) Q1 2023 Results Conference Call May 4, 2023 8:30 AM ET Company Participants Mary Puma - President and Chief Executive Officer Kevin Brewer - Executive Vice President and Chief Financial Officer Russell Low - Executive Vice President of Global Customer and Engineering Operation Doug Lawson - Executive Vice President of Corporate Marketing and Strategy Conference Call Participants Thomas Diffely - DA Davidson Craig Ellis - B. Riley Securities Christian Schwab - Craig-H ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-30941 AXCELIS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 34-1818596 (State or other juri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-30941 AXCELIS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 34-1818596 (State or other juri sdictio ...

Axcelis Technologies, Inc. (NASDAQ:ACLS) Q4 2022 Earnings Conference Call February 9, 2023 8:30 AM ET Company Participants Mary Puma - CEO, President & Director Kevin Brewer - EVP & CFO Douglas Lawson - EVP, Corporate Marketing & Strategy Conference Call Participants Nathaniel Bolton - Needham & Company Craig Ellis - B. Riley Securities Mark Miller - The Benchmark Company David Duley - Steelhead Securities Christian Schwab - Craig-Hallum Operator Good day, and thank you for standing by. Welcome to Axcelis F ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-30941 AXCELIS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 34-181859 ...