Financial Performance - Net revenue for Q4 fiscal 2024 was $24.1 million, a decrease of 10% sequentially and 13% year-over-year[5]. - GAAP net loss for Q4 fiscal 2024 was $0.5 million, or $0.04 per share, compared to a GAAP net income of $0.4 million, or $0.03 per share, in the previous quarter[9]. - Fiscal 2024 total net revenue reached $101.2 million, with a GAAP net loss of $8.5 million[2]. - The net loss for the year ended September 30, 2024, was $8,486,000, compared to a net loss of $12,582,000 for the previous year[24]. - GAAP net loss for the three months ended September 30, 2024, was $(536) thousand, compared to $(8,486) thousand for the year ended September 30, 2024[27]. - The GAAP net loss per diluted share for the year ended September 30, 2024, was $(0.60), compared to $(0.89) for the previous year[26]. - The company reported a non-GAAP net loss income per diluted share of $0.00 for the year ended September 30, 2024, compared to $(0.02) for the previous year[26]. Revenue and Orders - Customer orders for Q4 fiscal 2024 totaled $17.6 million, while the backlog stood at $25.3 million[2]. - New orders for the three months ended September 30, 2024, totaled $17,587, down from $18,185 in the same period last year[22]. - Backlog as of September 30, 2024, was $25,312, a decrease from $51,794 as of September 30, 2023[22]. Profitability and Expenses - Adjusted EBITDA for Q4 fiscal 2024 was $0.8 million, marking the fourth consecutive quarter of positive adjusted EBITDA[3]. - Structural cost reductions of approximately $7 million annually are anticipated to enhance profitability[14]. - Research, Development and Engineering expenses decreased by $1.6 million compared to the prior year period[8]. - Research, development, and engineering expenses for the three months ended September 30, 2024, were $991, down from $2,597 in the same period last year[22]. - GAAP gross profit for the three months ended September 30, 2024, was $9,803, significantly higher than $2,794 for the same period in 2023, resulting in a gross margin increase from 10% to 41%[22]. - Non-GAAP gross profit for the year ended September 30, 2024, was $37,528,000, compared to $41,684,000 for the previous year, with a non-GAAP gross margin of 37%[25]. Cash Flow and Assets - Cash provided by operations for fiscal 2024 was $9.8 million, with unrestricted cash at $11.1 million as of September 30, 2024[11]. - Total current assets decreased to $64,376 as of September 30, 2024, from $81,189 as of September 30, 2023[23]. - Cash and cash equivalents decreased to $11,086 as of September 30, 2024, from $13,133 as of September 30, 2023[23]. - The company had cash and cash equivalents of $11,086,000 at the end of the year, down from $13,133,000 at the beginning of the year[24]. Debt and Liabilities - The company fully repaid $10.7 million on its debt agreement during the quarter[2]. - Total liabilities decreased to $36,595 as of September 30, 2024, from $48,656 as of September 30, 2023[23]. Future Outlook - The company expects revenues for Q1 fiscal 2025 to be in the range of $21 million to $24 million, with nominally positive adjusted EBITDA[14].
Amtech Systems(ASYS) - 2024 Q4 - Annual Results