Camtek(US:CAMT)2025-08-05 11:20Financial Performance - Record revenues of $123.3 million for Q2 2025, a 20% year-over-year increase compared to $102.6 million in Q2 2024[11] - GAAP net income of $33.7 million, or $0.69 per diluted share, reflecting a 20% increase compared to $28.0 million, or $0.57 per diluted share, in Q2 2024[10][14] - Revenues for the six months ended June 30, 2025, increased to $241,955 thousand, up 21.2% from $199,601 thousand in the same period of 2024[26] - Net income for the six months ended June 30, 2025, reached $68,006 thousand, a 29.0% increase from $52,763 thousand in the same period of 2024[27] - Non-GAAP net income for the six months ended June 30, 2025, was $77,509 thousand, up 21.3% from $63,906 thousand in the same period of 2024[27] - Basic net earnings per share for the six months ended June 30, 2025, were $1.49, compared to $1.17 for the same period in 2024, reflecting a 27.4% increase[26] Profitability Metrics - GAAP gross margin of 50.8% and non-GAAP gross margin of 51.9%, with gross profit totaling $62.2 million and $64.0 million respectively[10][12] - GAAP operating income of $32.0 million, up 24% year-over-year, representing an operating margin of 25.9%[10][13] - Gross profit for the six months ended June 30, 2025, was $123,175 thousand, representing a gross margin of 50.9%, compared to 48.1% in the same period of 2024[27] - Operating income for the six months ended June 30, 2025, was $64,674 thousand, a 37.1% increase from $47,123 thousand in the same period of 2024[27] - Non-GAAP gross margin for the six months ended June 30, 2025, improved to 52.0%, compared to 50.9% in the same period of 2024[27] Future Outlook - Anticipated revenue of approximately $125 million for Q3 2025, indicating a run rate of half a billion dollars annually[8][11] - Strong order flow and pipeline expected to continue into Q4 2025, supporting growth initiatives[11] - The Advanced Packaging segment is projected to drive significant growth opportunities due to evolving market demands for AI[9] Assets and Cash Position - Cash and cash equivalents, along with marketable securities, totaled $543.9 million as of June 30, 2025, up from $522.6 million at the end of Q1 2025[15] - Total assets increased to $974.7 million as of June 30, 2025, compared to $892.0 million at the end of 2024[24] Operating Expenses - Total operating expenses for the six months ended June 30, 2025, were $58,501 thousand, an increase of 19.8% from $48,840 thousand in the same period of 2024[26] - The company recorded acquisition-related expenses of $1,300 thousand during the six months ended June 30, 2025[27] Product Development - New product introductions, including the Eagle G5 and Hawk systems, are well-received and aligned with technological advancements in AI applications[9] Shareholder Information - The weighted average number of diluted shares outstanding for the six months ended June 30, 2025, was 49,306 thousand, slightly up from 49,283 thousand in the same period of 2024[26]