Axcelis(US:ACLS)2025-05-06 11:30Revenue and Earnings - Revenue for Q1 2025 was $192.6 million, a decrease of 23.7% compared to $252.4 million in Q1 2024[5] - Net income for Q1 2025 was $28.6 million, down 44.5% from $51.6 million in Q1 2024, resulting in diluted earnings per share of $0.88[5] - Non-GAAP net income for Q1 2025 was $33,784, a decrease of 38.7% compared to $55,234 in Q1 2024[25] - GAAP diluted EPS for Q1 2025 was $0.88, down 43.9% from $1.57 in Q1 2024[25] - Non-GAAP diluted EPS for Q1 2025 was $1.04, a decline of 38.1% from $1.68 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] - The company expects GAAP diluted EPS of $0.57 for Q2 2025, with a non-GAAP diluted EPS forecast of $0.73[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 $123.5 million at the end of 2024, with no debt reported[17] - Total operating expenses remained relatively stable at $59.6 million compared to $59.5 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 $39.5 million, down from $64.5 million in Q1 2024[5] - Adjusted EBITDA for Q1 2025 was $39,520, representing a 38.9% decrease from $64,545 in Q1 2024[28] - Non-GAAP operating income for Q1 2025 was $35,211, 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]