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Axcelis(ACLS) - 2025 Q1 - Quarterly Results
ACLSAxcelis(ACLS)2025-05-06 11:30

Revenue and Earnings - Revenue for Q1 2025 was 192.6million,adecreaseof23.7192.6 million, a decrease of 23.7% compared to 252.4 million in Q1 2024[5] - Net income for Q1 2025 was 28.6million,down44.528.6 million, down 44.5% from 51.6 million in Q1 2024, resulting in diluted earnings per share of 0.88[5]−Non−GAAPnetincomeforQ12025was0.88[5] - Non-GAAP net income for Q1 2025 was 33,784, a decrease of 38.7% compared to 55,234inQ12024[25]−GAAPdilutedEPSforQ12025was55,234 in Q1 2024[25] - GAAP diluted EPS for Q1 2025 was 0.88, down 43.9% from 1.57inQ12024[25]−Non−GAAPdilutedEPSforQ12025was1.57 in Q1 2024[25] - Non-GAAP diluted EPS for Q1 2025 was 1.04, a decline of 38.1% from 1.68inQ12024[25]−ForQ22025,Axcelisexpectsrevenuesofapproximately1.68 in Q1 2024[25] - For Q2 2025, Axcelis expects revenues of approximately 185 million and GAAP earnings per diluted share of approximately 0.57[7]−ThecompanyexpectsGAAPdilutedEPSof0.57[7] - The company expects GAAP diluted EPS of 0.57 for Q2 2025, with a non-GAAP diluted EPS forecast of 0.73[30]Margins−GAAPgrossmarginwas46.10.73[30] Margins - GAAP gross margin was 46.1%, slightly up from 46.0% in the previous year, while non-GAAP gross margin increased to 46.4%[6] - GAAP operating margin decreased to 15.1% from 22.4% year-over-year, with non-GAAP operating margin at 18.3% compared to 24.1%[5] - Adjusted EBITDA margin for Q1 2025 was 20.5%, down from 25.6% in Q1 2024[28] Cash Position and Expenses - Cash and cash equivalents increased to 184.0 million from 123.5millionattheendof2024,withnodebtreported[17]−Totaloperatingexpensesremainedrelativelystableat123.5 million at the end of 2024, with no debt reported[17] - Total operating expenses remained relatively stable at 59.6 million compared to 59.5millioninthepreviousyear[15]−Axcelismaintainsastrongcashposition,withnetcashprovidedbyoperatingactivitiesat59.5 million in the previous year[15] - Axcelis maintains a strong cash position, with net cash provided by operating activities at 39.8 million for Q1 2025[19] Adjusted Metrics - Adjusted EBITDA for Q1 2025 was 39.5million,downfrom39.5 million, down from 64.5 million in Q1 2024[5] - Adjusted EBITDA for Q1 2025 was 39,520,representinga38.939,520, representing a 38.9% decrease from 64,545 in Q1 2024[28] - Non-GAAP operating income for Q1 2025 was 35,211,down42.335,211, down 42.3% from 60,770 in Q1 2024[25] Shareholder Actions - The company is actively repurchasing shares while continuing to invest in innovation and business growth[3] Restructuring Costs - Restructuring costs in Q1 2025 amounted to $1,149, primarily related to global cost-saving initiatives[25]