Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $177.6 million, with GAAP earnings per share of $0.12 and non-GAAP earnings per share of $0.28 [8][15] - Gross margins were reported at 45.7%, with total operating expenses at $80.3 million on a GAAP basis and just below $70 million on a non-GAAP basis [15][16] - For the upcoming December quarter, revenue is expected to increase by approximately 7% sequentially to $190 million, with gross margins projected at 47% [16] Business Line Data and Key Metrics Changes - General semiconductor revenue increased by 24% sequentially, with utilization rates over 80% [9] - Memory-related revenue increased by nearly 60% sequentially to $24.4 million, driven by NAND-related capacity additions [9] - Advanced packaging solutions saw a 17% sequential increase in APS, indicating improved production activity [10] Market Data and Key Metrics Changes - Utilization rates for general semiconductor and memory applications are improving, with memory utilization at approximately 82%-83% [40] - The automotive and industrial markets are expected to show sequential improvement in the December quarter, despite previous headwinds [10][66] - China’s utilization rates are close to 90%, indicating strong demand in that region [40][58] Company Strategy and Development Direction - The company is focused on expanding its market presence in advanced packaging, advanced dispense, and power semiconductor opportunities [14][18] - There is a commitment to innovation and customer engagement, particularly in response to the rise of chiplet architectures and heterogeneous integration [6][7] - The company anticipates that half of its incremental growth in fiscal 2026 will stem from technology transitions and share gains in new markets [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving end market dynamics and the potential for growth in fiscal 2026 [10][17] - The company is preparing for higher production levels and is confident in its operational efficiencies to navigate the current macro environment [17][18] - Management noted that the automotive and industrial markets are expected to recover, driven by technology transitions in power semiconductors [66] Other Important Information - The company repurchased $16.7 million worth of shares during the September quarter, totaling 2.4 million shares for the fiscal year [16] - The transition in leadership with Lester Wong as Interim CEO is expected to be seamless, maintaining strategic focus and operational stability [5][6] Q&A Session Summary Question: Guidance on segment growth for general semi, memory, and auto-industrial - Management indicated strong growth in general semi and memory, with expectations for sequential growth in auto-industrial as well [22][24] Question: Status of FTC plasma solution and competition - Management stated that they remain competitive in high-volume production and continue to feel strong about their FTC solution [25][26] Question: Details on HBM system shipment - The shipment is to a customer in the U.S., with the next milestone being system installation and qualification [31][32] Question: Insights into NAND market - Management reported high utilization rates in the NAND market, particularly in China, with increasing purchase orders [40] Question: Expectations for unit growth in general semi market - Management predicts unit growth of approximately 5%-7% for 2026, supported by high utilization rates [58] Question: Dynamics in the memory market - Management noted that memory utilization is high and sales are increasing, indicating a ramp in memory that will continue into FY 2026 [64]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $177.6 million, with GAAP earnings per share of $0.12 and non-GAAP earnings per share of $0.28, reflecting a focus on operational efficiency [8][14] - Gross margins were reported at 45.7%, with total operating expenses at $80.3 million on a GAAP basis and just below $70 million on a non-GAAP basis [14][15] - For the upcoming December quarter, revenue is expected to increase by approximately 7% sequentially to $190 million, with gross margins projected at 47% [15] Business Line Data and Key Metrics Changes - General semiconductor revenue increased by 24% sequentially, driven by technology and capacity needs, with utilization rates over 80% [9] - Memory-related revenue increased by nearly 60% sequentially to $24.4 million, primarily due to NAND-related capacity additions [9] - Advanced packaging solutions saw a 17% sequential increase in APS, indicating improved production activity across the high-volume install base [10] Market Data and Key Metrics Changes - Utilization rates for general semiconductor and memory applications are improving, with general semiconductor utilization over 80% and memory utilization around 82-83% [9][25] - The automotive and industrial markets are showing early signs of improvement, with expectations for sequential growth in the upcoming quarters [10][34] - China’s utilization rates are close to 90%, indicating strong demand in the region [25] Company Strategy and Development Direction - The company is focused on advancing its technology in areas such as thermal compression, vertical wire, and advanced dispense, aiming to capture market share in high-potential technologies [5][10] - The transition to advanced packaging techniques is seen as crucial for supporting power efficiency and performance improvements [12] - The company anticipates that half of its incremental growth in fiscal 2026 will stem from technology transitions and share gains in new markets, with the other half from cyclical recovery [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving end market dynamics and strong traction in advanced packaging and power semiconductor opportunities [10][16] - The company is preparing for higher production levels while continuing to drive technology transitions [6][10] - Management noted that the automotive market, while previously soft, is expected to show sequential improvement in fiscal 2026 [10][34] Other Important Information - The company repurchased $16.7 million worth of shares during the September quarter, totaling 2.4 million shares for the fiscal year [15] - The transition in leadership with Lester Wong as Interim CEO is expected to be seamless, maintaining strategic focus and continuity [4][5] Q&A Session Summary Question: Guidance on segment growth for general semi, memory, and auto-industrial - Management confirmed strong growth in general semi and memory, with expectations for sequential growth in auto-industrial as well [18][19] Question: Status of FTC plasma solution and competition - Management stated they remain competitive in high-volume production and continue to feel strong about their FTC solution [19][20] Question: Details on HBM system shipment - The first HBM system is being shipped to a customer in the U.S. for qualification, with expectations for future updates post-installation [22][23] Question: Growth expectations for fiscal 2026 - Management is comfortable with consensus revenue expectations around $730 million to $740 million, with growth driven by technology transitions and cyclical recovery [24] Question: Insights into the NAND market - High utilization rates in memory, particularly in China, are driving improvements, with expectations for continued order increases [25] Question: Dynamics in the memory market - Management indicated that memory utilization is high and sales are increasing, signaling a ramp in memory recovery into FY2026 [32] Question: Outlook for automotive and industrial markets - Management expressed optimism for sequential growth in auto-industrial revenue, particularly in Southeast Asia and China [34]