Disclaimer Confidentiality This presentation is confidential and may not be reproduced or distributed to others at any time without our prior written consent. Forward-Looking Statements Camtek Investor Presentation February 2026 This presentation contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words "anticipates," "assumes," "believes," "estimates," "expects," "guidance," "intends," "plans," "projects," "can," "could, ...

Core Insights - Camtek expects 2026 to be another year of double-digit growth, driven by a strong order pipeline and customer discussions regarding next-generation devices [2][5] - The company reported record results for Q4 and the full year, with Q4 revenue reaching $128 million, a 9% year-over-year increase, and full-year revenue totaling $496 million, reflecting a 16% growth [4][5] Revenue Guidance - For Q1 2026, Camtek guided revenue to be around $120 million, indicating a slower start to the year but with confidence in stronger performance in the second half [3][5] - The company anticipates that revenue will be more weighted towards the second half of 2026, supported by ongoing customer demand [3][5] Demand Drivers - AI-related semiconductor demand is identified as the primary growth engine, particularly as memory suppliers expand production capacity for AI applications [6] - The transition to HBM4 is seen as a significant opportunity, with increased metrology and inspection requirements [8] Product Positioning - The Hawk and Eagle G5 platforms have been widely deployed, with Hawk expected to account for a larger share of future capacity builds due to its high throughput capabilities [9][11] - Hawk and Eagle G5 are projected to contribute at least 50% of revenue in 2026, up from about 30% in 2025 [11] Financial Performance - Full-year gross margin was 51.6% and operating margin was 30%, with Q4 gross margin at 51.1% and operating margin at 28.6% [4][12] - The company ended 2025 with $851.1 million in cash and cash equivalents, reflecting strong operating cash flow and improved accounts receivable [15] Competitive Positioning - Camtek has maintained its market share and aims to expand further into inspection and metrology steps, particularly as advanced packaging adoption increases [17]

Camtek (NasdaqGM:CAMT) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Company ParticipantsBrian Chin - DirectorCraig Ellis - Senior Managing DirectorGus Richard - Managing DirectorKenny Green - VP of Investor RelationsMichael Mani - Equity Research AssociateMoshe Eisenberg - CFORamy Langer - COOVedvati Shrotre - DirectorConference Call ParticipantsCharles Shi - Senior AnalystEdward Yang - Stock AnalystJim Schneider - Senior Equity AnalystShane Brett - Equity Research AnalystKenny GreenLadies and gentle ...

Group 1 - NRG Energy, Inc. has appointed Sanjay Kapoor to its Board of Directors, effective February 3, 2026, and he will also serve on the Board's Audit Committee [1][2] - Kapoor's appointment increases NRG's Board to 11 members, enhancing its expertise in industrial, financial, and operational leadership [2] - Kapoor has over 30 years of experience in senior financial and operational roles, particularly in regulated and complex industries [3] Group 2 - Kapoor is the retired Executive Vice President and CFO of Spirit AeroSystems and has held leadership positions at Raytheon and United Technologies, where he significantly increased revenue [4] - He has extensive board experience with companies such as Crane Company, SAAB, Inc., and Black & Veatch, contributing to governance in industrial and technology-driven markets [5] - NRG is a major provider of electricity, natural gas, and smart home solutions to eight million customers across North America, operating approximately 25 GW of power generation [6]

Financial Data and Key Metrics Changes - The company reported record revenues of $123.3 million for Q2, reflecting over 20% growth year over year [5][11] - Gross margin was maintained at around 51.9%, similar to the previous quarter, contributing to an operating income of over $37 million [12] - Net income for Q2 was $38.8 million, or $0.79 per diluted share, compared to $32.6 million, or $0.66 per share in the same quarter last year [13] - Cash and cash equivalents increased to $544 million from $523 million at the end of the previous quarter [14] Business Line Data and Key Metrics Changes - High-performance computing (HPC) applications contributed approximately 45-50% of total revenue, while advanced packaging applications accounted for about 20% [6][11] - The advanced packaging segment is rapidly evolving, driven by technological changes to support AI applications [8] Market Data and Key Metrics Changes - Geographic revenue split for the quarter was 90% from Asia and 10% from the rest of the world [11] - The company expects Q3 revenue to be approximately $125 million, indicating a strong sales pipeline and healthy order flow into Q4 [8][15] Company Strategy and Development Direction - The company has made significant strategic investments in developing innovative solutions to address emerging opportunities in advanced packaging and HPC [9][10] - The launch of the AUK and Eagle 5 systems is expected to generate approximately 30% of total revenue this year, with larger contributions projected for the next year [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong momentum heading into the third quarter, supported by a healthy order flow and pipeline [7][8] - The advanced packaging market supporting AI applications is expected to grow rapidly over the next few years, driven by new packaging technologies [8][9] Other Important Information - Operating expenses increased to $26.6 million due to exceptionally high shipping expenses related to geopolitical conflicts [12][13] - The company has successfully adopted its micro proof metrology system by a tier-one customer, with over 30 systems installed in production environments [10] Q&A Session Summary Question: What is the expectation for HPC contribution in the second half of the year? - Management expects HPC contribution to remain similar to the first half, around 45-50% [17][18] Question: What is the current expectation for China’s contribution to total revenue? - The contribution from China is expected to be slightly higher than the previous year's 30% [19] Question: How does Camtek view competition from KLA in the hybrid bonding market? - Management believes they are well-positioned to compete effectively against KLA, citing strong customer relationships and competitive technology [24][25] Question: What traction is being seen for the Eagle 5 and Hawk products? - The Hawk is noted for high throughput and addressing difficult applications, while the Eagle 5 is faster and offers better defect detection capabilities [28][30] Question: What are the growth prospects for 2026? - Management anticipates rapid growth in the HPC market, driven by technological changes and new applications [33][34] Question: What is the expected ratio of Hawk versus Eagle shipments for HBM4? - The ratio is customer-dependent, with both products being successful in the market [84] Question: Are OSATs showing signs of strengthening? - OSATs are increasingly involved in high-performance computing applications, with significant orders being seen [58][89]

Core Viewpoint - Camtek Ltd. reported strong financial results for Q1 2025, with revenues of $118.6 million, a 22% increase year-over-year, and expects continued growth in Q2 2025 with revenue guidance of $120-123 million, representing a growth of approximately 17-20% year-over-year [1][3]. Financial Highlights - Q1 2025 revenues were $118.6 million compared to $97.0 million in Q1 2024, marking a 22% year-over-year growth [5]. - GAAP gross profit for Q1 2025 was $60.6 million, or 51.0% of revenues, up 35% from $44.8 million (46.2% of revenues) in Q1 2024 [5][8]. - Non-GAAP gross profit was $61.8 million (52.1% of revenues), a 26% increase from $49.2 million (50.7% of revenues) in Q1 2024 [6][8]. - GAAP operating income reached $32.7 million (27.6% of revenues), a 54% increase from $21.2 million (21.9% of revenues) in Q1 2024 [6][8]. - Non-GAAP operating income was $37.3 million (31.5% of revenues), a 29% increase from $29.0 million (29.9% of revenues) in Q1 2024 [7][8]. - GAAP net income was $34.3 million, or $0.70 per diluted share, up 38% from $24.8 million, or $0.50 per diluted share, in Q1 2024 [7][8]. - Non-GAAP net income totaled $38.7 million, or $0.79 per diluted share, a 24% increase from $31.3 million, or $0.64 per diluted share, in Q1 2024 [9]. Operational Insights - The primary growth driver for Camtek is advanced packaging, particularly in high-performance computing (HPC) to support AI applications [4]. - The company successfully launched two new models, the Eagle G5 and the Hawk, which support the latest packaging technologies and have received positive feedback from customers [4]. - The company has not experienced material impacts from geopolitical issues or tariff uncertainties, with manufacturing operations in Israel and Europe and sales concentrated in Asia [4]. Cash Position - As of March 31, 2025, cash and cash equivalents, short-term and long-term deposits, and marketable securities totaled $522.6 million, an increase from $501.2 million as of December 31, 2024, and $467.0 million as of March 31, 2024 [10]. - The company generated an operating cash flow of $23.6 million during the first quarter [10]. Company Overview - Camtek Ltd. develops and manufactures high-end inspection and metrology equipment for the semiconductor industry, serving various market segments including Advanced Interconnect Packaging and Heterogeneous Integration [13]. - The company operates manufacturing facilities in Israel and Germany, with a global presence through eight offices [14].