AXCELIS TECHNOLOGIES INC

Listed Company

ACLSCIK 0001113232NasdaqLarge AcceleratedSpecial Industry Machinery, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$839.05M

Net Income

$120.24M

Total Assets

$1.36B

Equity

$1.03B

Shares Out

30.72M

Op. Cash Flow

$118.31M

Business

AXCELIS TECHNOLOGIES INC designs, manufactures and services ion implantation and related processing equipment used in semiconductor chip fabrication. It offers the Purion family of single-wafer implanters, Ovation batch implanters, the Purion Power Series for power devices and a wide range of aftermarket lifecycle products and services including used tools, spare parts, upgrades, maintenance, training and digital remote-support offerings. The company operates an equipment systems business alongside its Customer Solutions & Innovation (CS&I) aftermarket division. It sells primarily through a direct global sales force into fabs and OEMs across North America, Europe and Asia.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	839	1,018	1,131	920	662
Total cost of revenue	462	563	639	518	376
Gross profit	377	455	491	402	286
Research and development	109	105	97	78	65
Sales and marketing	65	68	63	54	48
General and administrative	83	70	66	57	46
Total operating expenses	258	244	226	189	159
Income from operations	119	211	266	212	127
Interest income	21	24	18	5	209,000
Interest expense	−5	−5	−5	−6	—
Other, net	3	539,000	−48,000	−6	−2
Total other income	19	19	13	−7	−7
Income before income taxes	138	230	279	205	120
Income tax provision	18	29	32	22	22
Net income	120	201	246	—	—
Basic	3.81	6.17	7.52	5.54	2.94
Diluted	3.8	6.15	7.43	5.46	2.88
Basic weighted average shares of common stock	32	33	33	33	34
Diluted weighted average shares of common stock	32	33	33	34	34

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	145	124	167	186	295
Short-term investments	229	448	339	247	—
Accounts receivable, net	168	203	218	170	104
Inventories, net	329	282	306	242	195
Prepaid income taxes	5	6	—	—	—
Prepaid expenses and other current assets	67	60	49	33	25
Total current assets	943	1,124	1,080	878	619
Property, plant and equipment, net	56	54	54	40	35
Operating lease assets	29	30	31	12	9
Finance lease assets, net	14	15	17	18	19
Long-term restricted cash	11	8	7	752,000	757,000
Deferred income taxes	80	68	53	32	35
Long-term investments	182	—	—	—	—
Other assets	46	51	41	34	34
Total assets	1,361	1,349	1,282	1,014	753
Accounts payable	42	47	54	62	38
Accrued compensation	34	26	31	36	31
Warranty	10	13	14	8	6
Income taxes	11	—	6	4	887,000
Deferred revenue	66	95	165	123	60
Current portion of finance lease obligation	2	1	2	1	979,000
Other current liabilities	33	26	13	13	13
Total current liabilities	198	208	285	248	150
Long-term finance lease obligation	41	42	44	45	46
Long-term deferred revenue	43	44	46	31	8
Other long-term liabilities	45	43	42	22	10
Total liabilities	327	336	417	346	214
Commitments and contingencies (Note 16)	—	—	—	—	—
Common stock, $0.001 par value, 75,000 shares authorized; 30,717 shares issued and outstanding at December 31, 2025; 32,365 shares issued and outstanding at December 31, 2024	31,000	32,000	33,000	33,000	33,000
Additional paid-in capital	533	549	547	550	560
Retained earnings	504	470	320	119	−23
Accumulated other comprehensive loss	−2	−6	−2	−2	2
Total stockholders' equity	1,035	1,013	865	667	539
Total liabilities and stockholders' equity	1,361	1,349	1,282	1,014	753

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	120	201	246	183	99
Depreciation and amortization	18	16	13	12	11
Deferred income taxes	−11	−16	−20	9	20
Stock-based compensation expense	21	21	18	13	12
Provision for doubtful accounts	—	3	1	—	—
Provision for excess and obsolete inventory	4	6	5	5	4
Accretion of discounts and premiums on short-term and long-term investments	−4	−12	−12	—	—
Unrealized currency gain on foreign denominated transactions	2	8	2	6	—
Mark-to-market adjustment on forward exchange contracts	−435,000	−267,000	—	—	—
Accounts receivable	37	7	−51	−67	−18
Inventories	−42	6	−70	−58	−39
Prepaid expenses and other current assets	−5	−12	−16	−7	−4
Accounts payable and other current liabilities	6	−413,000	−8	31	22
Deferred revenue	−30	−71	56	86	45
Income taxes	13	−9	4	3	253,000
Other assets and liabilities	−11	−6	−12	−625,000	−2
Net cash provided by operating activities	118	141	157	216	150
Expenditures for property, plant and equipment and capitalized software	−11	−12	−21	−11	−9
Purchases of short-term and long-term investments	−646	−539	−389	—	—
Maturities and sales of short-term investments	687	443	309	—	—
Net cash provided by (used in) investing activities	30	−109	−101	−257	−9
Net settlement on restricted stock grants	−5	−12	−17	−10	−7
Repurchase of common stock	−121	−60	−52	−57	−50
Proceeds from Employee Stock Purchase Plan purchases	2	2	2	2	1
Principal payments on finance lease obligation	−1	−2	−1	−987,000	−763,000
Proceeds from exercise of stock options	—	—	25,000	1	4
Net cash used in financing activities	−124	−71	−68	−65	−52
Effect of exchange rate changes on cash and cash equivalents	1	−4	−139,000	−2	2
Net increase (decrease) in cash, cash equivalents and restricted cash	25	−43	−12	−109	91
Interest	5	5	5	5	5

Filings

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