Axcelis Technologies, Inc. · NASDAQ:ACLS
Axcelis Technologies — Q3 2025 Earnings Presentation
16 slides from Axcelis Technologies's earnings presentation, Nov 4, 2025
Slide 1: Q3 2025 Earnings Presentation
Q3 2025 EARNINGS PRESENTATION NOVEMBER 4, 2025
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation contains, and the conference call will contain, forward-looking statements under the Private Securities Litigation Reform Act safe harbor provisions. These statements, which include our expectations for spending in our industry and guidance for future financia
Slide 3: Use of Non-GAAP Measures
USE OF NON-GAAP MEASURES This presentation includes financial measures that are not presented in accordance with U.S. generally accepted accounting principles (“Non-GAAP financial measures”). These Non-GAAP financial measures include non-GAAP gross profit, non-GAAP gross margin, non- GAAP operating
Slide 4: Q3 2025 Highlights
Q3 2025 HIGHLIGHTS REVENUE GAAP DILUTED EPS NON-GAAP DILUTED EPS* $214M $0.83 $1.21 Stronger Q3 Revenue driven by record CS&I, as well as slightly better than expected Systems revenue Non-GAAP EPS exceeded expectations due to higher revenue and lower operating expenses, partially offset by mix Booki
Slide 5: Expected Synergies Across Technologies and Markets
EXPECTED SYNERGIES ACROSS TECHNOLOGIES AND MARKETS CORE COMPETENCIES CORE COMPETENCIES VALUE CREATION Potential for Technology Optimization TECHNOLOGIES Ion Implant Laser Annealing Cross Sell Opportunity Combined Ion Source and Component Ion Implant Ion Beam Deposition Expertise to Enhance IBD capab
Slide 6: Shipped System Revenue by Segment
Q3 2025 SHIPPED SYSTEM REVENUE BY SEGMENT 18% OTHER POWER2 (IGBT, OTHER) m at ur en ode s 25% GENERAL MATURE1 3% ADVANCED LOGIC 52% SILICON CARBIDE (SiC) POWER 2% MEMORY pow er 1 Starting with Q1 2025 results, shipped system revenue from Image Sensor applications is included in the General Mature ca
Slide 7: Mature Process Technology
MATURE PROCESS TECHNOLOGY 95% OF TOTAL SHIPPED SYSTEM REVENUE IN Q3 2025 POWER GENERAL MATURE1 70% OF TOTAL SHIPPED SYSTEM REVENUE IN Q3 2025 25% OF TOTAL SHIPPED SYSTEM REVENUE IN Q3 2025 • Shipments to Silicon Carbide applications grew nicely • Sequential decline as customers manage capacity on a
Slide 8: Advanced Logic & Memory Technology
ADVANCED LOGIC & MEMORY TECHNOLOGY ADVANCED LOGIC MEMORY 3% SHIPPED SYSTEM REVENUE IN Q3 2025 2% OF TOTAL SHIPPED SYSTEM REVENUE IN Q3 2025 • Generated revenue from a previously booked system • Revenue remained at muted levels in the third with an existing customer quarter • Continued active collabo
Slide 9: Delivering Results Despite Cyclical Digestion in 2025
DELIVERING RESULTS DESPITE CYCLICAL DIGESTION IN 2025 Remaining focused on Record CS&I (Customer Strong execution and product development Solutions and Innovation) disciplined cost controls roadmap and customer revenue driven by focused deliver resilient engagement initiatives. aftermarket strategy
Slide 10: Revenue Detail
Q3 2025 REVENUE DETAIL (in millions) Q3 2025 Q2 2025 Q3 2024 Systems Revenue $143.7 $133.3 $201.0 CS&I Revenue $69.9 $61.3 $55.5 Total Revenue $213.6 $194.5 $256.6 Systems Bookings $52.2 $96.2 $84.5 Systems Backlog1 $484.5 $575.7 $758.2 Q3 2025 Q2 2025 Q3 2024 Geographic Breakdown (% of Total Reve
Slide 11: Select GAAP & Non-GAAP Financial Measures
Q3 2025 SELECT GAAP & NON-GAAP FINANCIAL MEASURES Select Income Statement Information (in millions), expect per share amounts Q3 2025 Q3 2024 Revenue $213.6 $256.5 Select GAAP Financial Measures Gross Margin 41.6% 42.9% Operating Expenses $63.8 $63.1 Operating Income $25.0 $52.8 Operating Margin 11.
Slide 12: Cash Flow and Balance Sheet
Q3 2025 CASH FLOW AND BALANCE SHEET Select Balance Sheet & Cash Flow Information (in millions) Q3 2025 Q2 2025 Q3 2024 Cash, Cash Equivalents & Marketable Securities1 $592.8 $581.0 $579.4 Cash From Operations $45.3 $39.7 $45.7 Capital Expenditures $2.0 $2.0 $3.9 Free Cash Flow $43.3 $37.7 $41.8 Shar
Slide 13: Q4 2025 Outlook
Q4 2025 OUTLOOK Q4 2025 Revenue ~$215M ADDITIONAL COMMENTARY Non-GAAP Gross Margin* ~43.0% Non-GAAP Operating Expenses* ~$56M Q1 2026 Revenue expected to be relatively similar to anticipated Q4 2025 levels. Adjusted EBITDA* ~$41M Non-GAAP Diluted Earnings Per Share* ~$1.12 13 *A reconciliation of U.
Slide 14: Appendix
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Slide 15: Appendix: GAAP to Non-GAAP Reconciliation
APPENDIX: GAAP TO NON-GAAP RECONCILIATION Q3'25 Q3'24 Adjusted EBITDA Reconciliation Q3'25 Q3’24 Revenue $ 213,611 $ 256,564 Net income $ 25,986 $ 48,576 Other (income)/expense (5,130) (8,452) Gross Profit $ 88,806 $ 109,970 Income tax provision 4,164 6,789 Restructuring1 - - Depreciation & amortiza
Slide 16: Appendix: Q4 2025 Outlook GAAP to Non-GAAP Reconciliation
APPENDIX: Q4 2025 OUTLOOK GAAP TO NON-GAAP RECONCILIATION Q4 2025 Q4 2025 Outlook Adjusted EBITDA Reconciliation Outlook Revenue $215 Net Income $23 Other (Income)/Expense ($4) GAAP Gross Margin 42.5% Income tax provision $4 Restructuring1 0.1% Depreciation & Amortization $5 Stock-based compensation