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Dec 31, 2025
Axcelis Q4 2025 Earnings Report
Axcelis reported strong financial results for the fourth quarter of 2025, exceeding outlook with record CS&I revenue and expanded gross margins.
Key Takeaways
Axcelis Technologies, Inc. announced robust financial results for the fourth quarter and full year ended December 31, 2025. The company reported revenues of $238 million, GAAP diluted EPS of $1.10, and non-GAAP diluted EPS of $1.49 for the quarter. These results were driven by record CS&I performance, operational discipline, and a favorable mix, contributing to strong financial execution.
Q4 2025 revenue reached $238 million, surpassing the company's outlook.
Achieved a record quarter for CS&I revenue, reflecting growth in the installed base and strategic focus on upgrades and service contracts.
GAAP gross margin stood at 47.0%, with non-GAAP gross margin at 47.3%, indicating strong operational discipline and favorable mix.
GAAP diluted EPS was $1.10, and non-GAAP diluted EPS was $1.49, demonstrating solid profitability.
Revenue by Segment
Forward Guidance
For the first quarter ending March 31, 2026, Axcelis expects revenues of approximately $195 million, GAAP earnings per diluted share of approximately $0.38, and non-GAAP earnings per share of approximately $0.71.
Positive Outlook
- Improving demand trends in the Memory market are expected to continue in 2026.
- Confidence in the compelling prospects and potential of the combined company with Veeco.
- Better positioned to capitalize on secular growth trends driven by AI, electrification, and next-generation device architectures.
- Leveraging complementary strengths across portfolios and teams to deliver greater value for stakeholders.
- Continued strategic focus on driving upgrades and service contracts.
Challenges Ahead
- Customers navigating a mixed demand environment in Power and General Mature markets.
- Potential for failure to obtain applicable regulatory approvals for the Veeco merger in a timely manner.
- Risks that the businesses will not be integrated successfully or that expected benefits may take longer to realize.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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