Key Takeaways Amtech Systems' stock jumped 94% in six months, but revenues fell to about $19M in Q1 FY26.ASYS faces cyclical demand swings and pricing pressure from rivals like AMAT, KLAC and LRCX.ASYS' earnings estimates for FY26 were cut 42% in 30 days, with a negative 37.2% surprise average.Amtech Systems’ (ASYS) shares have surged 94.2% over the past six months, outpacing the broader Zacks Computer and Technology sector and Semiconductor – General industry’s return of 7.8% and 1.9%, respectively.The sto ...

Key Takeaways Amtech's SFS revenues fell 12.4% YoY and posted an operating loss in Q1 FY26.Soft PR Hoffman demand and silicon carbide cost pressures weighed on ASYS' margins.Management calls FY26 an investment year, with revenues seen up just 0.8% YoY.Amtech Systems’ (ASYS) profit growth outlook remains uncertain, as continued weakness in its Semiconductor Fabrication Solutions (SFS) segment weighs on overall performance. SFS revenues fell 12.4% year over year and posted an operating loss in the first quart ...

Core Insights - Amtech Systems (ASYS) shares fell 27% after reporting weaker-than-expected results for Q1 fiscal 2026, with earnings per share (EPS) of 3 cents compared to 6 cents in the same quarter last year, missing the Zacks Consensus Estimate of 7 cents per share [1][9] Financial Performance - ASYS reported net revenues of $18.97 million, a decline of 22.2% year-over-year, and missed the Zacks Consensus Estimate by 0.14% [2][9] - Thermal Processing Solutions sales were $13.98 million, accounting for 73.7% of total revenue, down 25.2% from the previous year [3] - Semiconductor Fabrication Solutions revenues were $4.99 million, representing 26.3% of total revenue, down 12.4% year-over-year [3] - Non-GAAP gross margin was 45%, an increase of 700 basis points from the year-ago quarter [3] - Adjusted EBITDA was $1.44 million, down from $1.92 million in the same quarter last year [4] Guidance and Future Outlook - For Q2 fiscal 2026, ASYS expects revenues between $19 million and $21 million, with the Zacks Consensus Estimate at $19.5 million, indicating a year-over-year increase of 25.2% [6][9] - Adjusted EBITDA margins are anticipated to remain in the high single digits [6] Earnings Estimates - The Zacks Consensus Estimate for Q2 fiscal 2026 earnings is set at 9 cents per share, compared to a loss of 16 cents per share in the same quarter last year [7]

分组1 - Amtech Systems reported quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.07 per share, and down from $0.06 per share a year ago, indicating a negative earnings surprise of -57.14% [1][2] - The company posted revenues of $18.97 million for the quarter, which was 0.14% below the Zacks Consensus Estimate and a decrease from $24.39 million year-over-year [3] - Amtech has outperformed the market with a 25.5% increase in share price since the beginning of the year, compared to a 0.5% gain in the S&P 500 [4] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.09 on revenues of $19.5 million, and for the current fiscal year, it is $0.43 on revenues of $80 million [8] - The Semiconductor - General industry, to which Amtech belongs, is currently ranked in the top 24% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this sector [9]

Financial Data and Key Metrics Changes - Revenue for the first quarter of fiscal 2026 was $19 million, with Adjusted EBITDA at $1.4 million, both within guidance [5][11] - Gross margin as a percentage of sales increased to 44.8% from 38.4% year-over-year and 44.4% sequentially [14] - GAAP net income for the first quarter was $0.1 million or $0.01 per share, compared to $1.1 million or $0.07 per share in the previous quarter [15] Business Line Data and Key Metrics Changes - AI-related products accounted for 35% of revenue in the Thermal Processing Solutions (TPS) segment, up from 30% in the previous quarter [6][12] - Book-to-bill ratio was 1.1, driven by strong performance in the TPS segment due to AI equipment orders [6] - Specialty chemicals segment showed strong customer engagement and improved bookings, while PR Hoffman products faced weak demand [8] Market Data and Key Metrics Changes - Demand for AI infrastructure is driving growth, with semiconductor OEMs and OSATs increasing investments [6] - Weak demand in the mature node semiconductor market is impacting overall results, particularly for PR Hoffman products [8] Company Strategy and Development Direction - The company is focusing on next-generation equipment for high-density packaging and panel-level packaging, which is expected to drive future growth [7] - A semi-fabless manufacturing model is being adopted to increase revenue with minimal capital expenditures [9] - The company aims to overserve underserved customers with high-value applications in specialty chemicals [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued demand for AI-related equipment and strong bookings, with expectations for growth in the third and fourth quarters [6][32] - The company anticipates revenue for the second quarter to be in the range of $19 million to $21 million, driven primarily by AI-related equipment sales [16] Other Important Information - Cash generated from operations was $4.1 million for the first quarter, with a cash balance of $22.1 million and no debt [9][15] - The company did not repurchase any shares under its stock repurchase program since its initiation [15] Q&A Session Summary Question: Can you elaborate on the panel-level business? - Management explained that panel-level packaging is a cost-effective method for producing packaging in large formats, which is seen as the future of advanced packaging [21][22] Question: Are there any new products related to higher density packaging? - Management indicated that new products are being developed for higher density packaging, with meaningful demand expected around 2027 [23] Question: What are the most encouraging factors moving through fiscal 2026? - Management highlighted strong bookings, short lead times for AI packaging equipment, and a robust pipeline for specialty chemicals as encouraging factors [30][32] Question: Can you discuss the increase in SG&A and R&D expenses? - Management noted that R&D increases are primarily due to investments in next-generation packaging equipment for AI applications and specialty chemicals [36][38] Question: What is the outlook for AI revenue growth? - Management expressed improved visibility on AI revenue, with expectations for continued momentum and new facilities being built to support demand [40][42] Question: Can you explain the high tax rate this quarter? - Management clarified that the high tax rate is due to U.S. entities being in a loss position, resulting in no tax benefit recognized [43][46]

Financial Data and Key Metrics Changes - Revenue for the first quarter of fiscal 2026 was $19 million, with Adjusted EBITDA at $1.4 million, both within guidance [5][6] - Gross margin as a percentage of sales increased to 44.8% from 38.4% year-over-year and 44.4% sequentially [14] - GAAP net income for the first quarter was $0.1 million or $0.01 per share, compared to $1.1 million or $0.07 per share in the previous quarter [15] Business Line Data and Key Metrics Changes - AI-related products accounted for 35% of revenue in the thermal processing solutions segment, up from 30% in the previous quarter [6][12] - Book-to-bill ratio was 1.1, driven by strong performance in AI equipment orders [6] - Weak demand for PR Hoffman products negatively impacted overall SFS results, offsetting gains in other areas [8] Market Data and Key Metrics Changes - Demand for AI infrastructure is expected to continue increasing, with semiconductor OEMs and OSATs expanding capacity [6] - The company received initial orders for panel-level packaging equipment, indicating emerging technology demand [7] Company Strategy and Development Direction - The company is focusing on next-generation equipment for high-density packaging to support emerging customer requirements [7] - A semi-fabless manufacturing model has been adopted, consolidating manufacturing from seven facilities to four, which is expected to increase revenue with minimal capital expenditures [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong demand for AI-related products and a robust opportunity pipeline for specialty chemicals [10][32] - The outlook for the second fiscal quarter is revenue guidance of $19 million to $21 million, primarily driven by AI-related equipment sales [16] Other Important Information - Cash generated from operations was $4.1 million for the first quarter, with a cash balance of $22.1 million and no debt [9][15] - The company did not repurchase any shares under its stock repurchase program since its initiation [15] Q&A Session Summary Question: Can you elaborate on the panel-level business? - Management explained that panel-level packaging is a cost-effective method for producing packaging in large formats, which is seen as the future of advanced packaging [21][22] Question: Are there any other qualifications underway in the services and chemical businesses? - Management confirmed active engagements and a promising pipeline for specialty chemicals, indicating strong customer engagement [24] Question: What are you most encouraged about as you move through fiscal 2026? - Management highlighted strong bookings, short lead times for AI packaging equipment, and a solid pipeline for specialty chemicals as encouraging factors [30][32] Question: Can you discuss the increase in SG&A and R&D expenses? - Management noted that R&D increases are focused on next-generation packaging equipment for AI applications and building momentum in the semi-fab solutions area [36] Question: What is the reason for the high tax rate this quarter? - Management clarified that the high tax rate is due to U.S. entities being in a loss position, with tax expenses primarily from foreign entities [40][41]

Financial Data and Key Metrics Changes - Revenue for Q1 2026 was $19 million, aligning with guidance, while Adjusted EBITDA was $1.4 million, also within guidance range [5][12] - Gross margin increased to 44.8% in Q1 2026 from 38.4% in the same period last year and 44.4% in Q4 2025 [14] - GAAP net income for Q1 2026 was $0.1 million or $0.01 per share, compared to $1.1 million or $0.07 per share in the preceding quarter [16] Business Line Data and Key Metrics Changes - AI-related products accounted for 35% of revenue in the thermal processing solutions segment, up from 30% in Q4 2025 [6][13] - Book-to-bill ratio was 1.1, driven by strong performance in AI equipment orders [6] - Weak demand for PR Hoffman products negatively impacted overall SFS results, offsetting gains in other segments [9] Market Data and Key Metrics Changes - Demand for AI infrastructure is driving investments from semiconductor OEMs and OSATs, with expectations for continued growth in Q3 and Q4 2026 [6][11] - The semiconductor market, particularly for mature node semiconductors, is experiencing weakness, impacting overall sales [13] Company Strategy and Development Direction - The company is focusing on next-generation equipment for high-density packaging and panel-level packaging, which is expected to drive future growth [8][9] - A semi-fabless manufacturing model has been adopted, consolidating manufacturing from seven facilities to four, allowing for increased revenue with minimal capital expenditures [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand for AI-related equipment and the strength of the customer pipeline, indicating improved visibility for growth [32] - The company expects revenue for Q2 2026 to be in the range of $19 million to $21 million, driven primarily by AI-related equipment sales [17] Other Important Information - Cash generated from operations was $4.1 million for Q1 2026, with a cash balance of $22.1 million and no debt [10][16] - The company did not repurchase any shares under its stock repurchase program since its initiation [16] Q&A Session Summary Question: Can you elaborate on the panel-level business? - Management explained that panel-level packaging is a cost-effective method for producing packaging in large formats, which is seen as the future of advanced packaging [22] Question: Are there any new products related to this panel-level business? - Management indicated that new products are focused on higher density packaging requirements, with meaningful demand expected around 2027 [24] Question: What are the key areas of commitment for increased spending in R&D? - Increased investments are being made in next-generation packaging equipment for AI applications and in the semi-fab solutions area to build momentum [36] Question: What is the outlook for AI revenue growth? - Management expressed confidence in continued growth in AI revenue, supported by customer plans for expansion and new facility buildouts [38] Question: Can you explain the high tax rate this quarter? - The high tax rate is due to U.S. entities being in a loss position, with no tax benefits recognized, leading to a larger tax expense from foreign entities [40][41]

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: December 31, 2025 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: 0-11412 AMTECH SYSTEMS, INC. (Exact name of registrant as specified in its charter) Indicate ...

Financial Performance - Net revenue for Q1 FY 2026 was $19.0 million, a decrease from $19.8 million in Q4 FY 2025 and $24.4 million in Q1 FY 2025[6] - The company reported a GAAP net income of $0.1 million, or $0.01 per diluted share, down from $1.1 million, or $0.07 per share in the previous quarter[11] - Revenues for the three months ended December 31, 2025, were $18,973,000, a decrease of 22.4% compared to $24,385,000 in the same period of 2024[27] - Net income for the three months ended December 31, 2025, was $108,000, down from $312,000 in the same period of 2024, with net income per diluted share remaining at $0.01[27][31] Cash Flow and Liquidity - Operating cash flow increased by 43% compared to Q1 FY 2025, reaching $4.1 million[4] - Cash and cash equivalents increased to $22.1 million from $17.9 million in the prior quarter, with no debt reported[12] - Cash and cash equivalents increased to $22,078,000 as of December 31, 2025, compared to $17,904,000 at the end of the previous quarter[29] Margins and Profitability - The gross margin improved to 44.8% in Q1 FY 2026, up from 38.4% in the same period last year[8] - Gross profit for the same period was $8,493,000, resulting in a gross margin of 45%, compared to a gross profit of $9,363,000 and a gross margin of 38% in the prior year[30] - Adjusted EBITDA for the three months ended December 31, 2025, was $1,444,000, reflecting a strong operational performance despite lower net income[32] Customer Demand and Orders - Customer orders totaled $20.7 million, with a backlog of $21.6 million, indicating strong demand for AI-related products[5] - The book-to-bill ratio was 1.1, driven by AI applications, with some deliveries expected to extend into Q3 FY 2026[4] - For Q2 FY 2026, the company expects revenues to range from $19.0 million to $21.0 million, with an adjusted EBITDA margin in the high single digits[15] Expenses and Cost Management - SG&A expenses rose by $0.5 million sequentially but decreased by $1.2 million compared to Q1 FY 2025 due to cost reduction efforts[9] - Research and development expenses increased by $0.3 million sequentially, reflecting growth initiatives[10] Balance Sheet and Liabilities - Total assets rose to $94,145,000 as of December 31, 2025, up from $92,873,000 at the end of September 2025[28] - Total liabilities increased to $40,049,000 as of December 31, 2025, compared to $39,488,000 at the end of the previous quarter[28] - Contract liabilities increased to $7,132,000 as of December 31, 2025, compared to $6,461,000 at the end of September 2025[28] Inventory and Foreign Currency - The company reported a write-down of inventory amounting to $318,000 for the quarter, compared to $632,000 in the same period of 2024[29] - The company experienced a foreign currency loss of $198,000 during the quarter, contrasting with a gain of $401,000 in the same period of the previous year[27]

Core Insights - Amtech Systems (ASYS) is set to report its first-quarter fiscal 2026 results on February 5, with anticipated revenues between $18 million and $20 million, and a Zacks Consensus Estimate of $19 million, reflecting a 22.1% decline from the previous year [1][9]. Revenue and Earnings Estimates - The Zacks Consensus Estimate for earnings is 7 cents per share, unchanged over the past 30 days, compared to 6 cents per share in the same quarter last year [2]. - Amtech has beaten the Zacks Consensus Estimate in three of the last four quarters, with an average surprise of 32.1% [2]. Growth Opportunities - Advanced packaging is identified as a significant growth opportunity, particularly in AI infrastructure, with a noted increase in demand for related equipment [3]. - In the fourth quarter of fiscal 2025, AI infrastructure equipment sales accounted for approximately 30% of Thermal Processing Solutions' revenues, up from 25% in the previous quarter, indicating a rapid growth in AI demand [4]. Operational Efficiency - The company has made significant strides in restructuring operations to enhance cost efficiency, reducing its manufacturing sites from seven to four and shifting some production to partners [5]. - The adoption of a semi-fabless manufacturing model has led to $13 million in annual savings, which is expected to positively impact margins in the upcoming quarter [6]. Market Challenges - Despite the positive developments, Amtech continues to face challenges due to weak demand in its mature node semiconductor business, which has negatively impacted revenues from front-end equipment and consumables [7]. - The ongoing weakness in mature node demand is anticipated to offset the benefits from the growth in AI-related equipment and cost-cutting measures [7]. Earnings Prediction Model - The current model does not predict a definitive earnings beat for Amtech this season, as it lacks a positive Earnings ESP despite holding a Zacks Rank of 1 [8][10].