Core Viewpoint - Camtek Ltd. anticipates continued growth in Q3 2025, projecting revenues of approximately $125 million, which translates to an annualized run rate of half a billion dollars [3][4]. Financial Highlights - Revenues for Q2 2025 were reported at $123.3 million, marking a 20% increase from $102.6 million in Q2 2024 [5][8]. - Gross profit on a GAAP basis for Q2 2025 was $62.2 million, representing 50.8% of revenues, up 22% from $51.1 million (49.9% of revenues) in Q2 2024 [5][8]. - Non-GAAP gross profit for the same period was $64.0 million (51.9% of revenues), also a 22% increase compared to $52.4 million (51.0% of revenues) in Q2 2024 [6][8]. - Operating income on a GAAP basis reached $32.0 million (25.9% of revenues), a 24% increase from $25.9 million (25.2% of revenues) in Q2 2024 [6][8]. - Non-GAAP operating income was $37.4 million (30.3% of revenues), up 21% from $30.8 million (30.0% of revenues) in Q2 2024 [7][8]. - Net income on a GAAP basis was $33.7 million, or $0.69 per diluted share, a 21% increase from $28.0 million ($0.57 per diluted share) in Q2 2024 [7][8]. - Non-GAAP net income totaled $38.8 million ($0.79 per diluted share), a 19% increase from $32.6 million ($0.66 per diluted share) in Q2 2024 [9][8]. Management Insights - CEO Rafi Amit highlighted that the company is experiencing record performance in 2025, driven by high-performance computing applications for AI, with a year-over-year revenue growth of 20% and strong gross margins around 52% [4][8]. - The Advanced Packaging segment is evolving rapidly, with expectations of an industry-wide upgrade cycle due to new technological requirements in AI [4][8]. - The company introduced new systems, Eagle G5 and Hawk, which have been well received in the market, aligning with the technological advancements needed for AI [4][8]. - Camtek aims to achieve its long-term revenue goal of half a billion dollars and maintains a healthy order flow into Q4 2025 [4][8]. Cash Position - As of June 30, 2025, the company reported cash and cash equivalents, short-term and long-term deposits, and marketable securities totaling $543.9 million, an increase from $522.6 million as of March 31, 2025 [9].

Q1 revenues of $118.6 million with strong profitability; Expects continued growth in Q2 2025 with revenue guidance of $120-123 million Rafi Amit, Camtek's CEO commented, "We have kicked off 2025 with record quarterly revenues and significantly improved profitability. Our primary growth driver for the coming years is advanced packaging, with a strong emphasis on high-performance computing (HPC) to support AI applications. This includes emerging technologies such as the projected upcoming transition from HBM3 ...