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Mar 31, 2025
Camtek Q1 2025 Earnings Report
Camtek posted record results in Q1 2025 with 22% revenue growth and strong margin expansion.
Key Takeaways
Camtek delivered its highest-ever quarterly revenue in Q1 2025, driven by demand in advanced packaging and AI-related markets. Profitability metrics improved significantly, with gross and operating margins expanding both on a GAAP and non-GAAP basis.
Revenue reached a record $118.6 million, up 22% year-over-year.
GAAP gross margin expanded to 51.0%, with non-GAAP gross margin at 52.1%.
GAAP operating margin rose to 27.6%; non-GAAP operating margin reached 31.5%.
GAAP net income grew 38% to $34.3 million; EPS at $0.70.
Forward Guidance
Camtek expects continued momentum in Q2 2025 with revenue guidance of $120–123 million, reflecting growth driven by demand in advanced packaging and AI sectors.
Positive Outlook
- Q2 revenue guidance of $120–123 million, up 17–20% YoY.
- Strong adoption of Eagle G5 and Hawk models by customers.
- Advanced packaging and HPC demand supporting growth.
- Stable operations amid geopolitical and tariff uncertainties.
- Improved cash position with $522.6 million in liquid assets.
Challenges Ahead
- Ongoing geopolitical risks in Israel and global regions.
- Potential trade regulation shifts in Asia-Pacific markets.
- Customer exposure concentrated in China, Taiwan, and Korea.
- Dependency on cyclical semiconductor capex trends.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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