AMTECH SYSTEMS INC Segments Disclosure
15. Reportable Segments
In the operation of the business, management, including our Chief Operating Decision Maker (“CODM”), who is also our , reviews certain financial information, including segmented internal profit and loss statements. The primary profitability measure used by the CODM to review segment operating results is net income. The CODM uses net income to allocate resources during our annual planning process and throughout the year, as well as to assess the performance of our segments, primarily by monitoring actual results compared to prior period and expected results.
Amtech has two operating segments that are structured around the types of product offerings provided to our customers. In addition, the operating segments may be further distinguished by the Company’s respective brands. These two operating segments comprise our two reportable segments discussed below. Our two reportable segments are as follows:
Thermal Processing Solutions – We design, manufacture, sell and service thermal processing equipment and related controls for use by leading semiconductor manufacturers, and in electronics, automotive and other industries.
Semiconductor Fabrication Solutions – We provide consumables, parts and service, and equipment for producing silicon carbide, silicon and gallium nitride wafers, optical components and a variety of crystalline materials.
Information concerning our reportable segments is as follows, in thousands:
|
|
Year Ended September 30, 2025 |
|
|||||||||
|
|
Thermal Processing Solutions |
|
|
Semiconductor Fabrication Solutions |
|
|
Total |
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|||
|
|
|
|
|
|
|
|
|
|
|||
Revenue |
|
$ |
58,057 |
|
|
$ |
21,307 |
|
|
$ |
79,364 |
|
Less: |
|
|
|
|
|
|
|
|
|
|||
Material |
|
|
27,711 |
|
|
|
9,602 |
|
|
|
37,313 |
|
Labor |
|
|
4,837 |
|
|
|
3,190 |
|
|
|
8,027 |
|
Overhead |
|
|
4,943 |
|
|
|
2,098 |
|
|
|
7,041 |
|
Intangible asset impairment |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Gross profit |
|
|
20,566 |
|
|
|
6,417 |
|
|
|
26,983 |
|
Selling & marketing |
|
|
7,658 |
|
|
|
891 |
|
|
|
8,549 |
|
General & administrative |
|
|
4,771 |
|
|
|
7,068 |
|
|
|
11,839 |
|
Research & development |
|
|
2,133 |
|
|
|
516 |
|
|
|
2,649 |
|
Loss on sale of fixed assets |
|
|
174 |
|
|
|
74 |
|
|
|
248 |
|
Goodwill impairment |
|
|
4,997 |
|
|
|
15,356 |
|
|
|
20,353 |
|
Intangible asset impairment |
|
|
— |
|
|
|
2,569 |
|
|
|
2,569 |
|
Severance expense |
|
|
412 |
|
|
|
224 |
|
|
|
636 |
|
Operating income (loss) |
|
|
421 |
|
|
|
(20,281 |
) |
|
|
(19,860 |
) |
Interest income |
|
|
82 |
|
|
|
43 |
|
|
|
125 |
|
Interest expense |
|
|
(22 |
) |
|
|
(4 |
) |
|
|
(26 |
) |
Other segment items (1) |
|
|
(1,127 |
) |
|
|
(9 |
) |
|
|
(1,136 |
) |
Non-segment items (2) |
|
|
— |
|
|
|
— |
|
|
|
(9,429 |
) |
Net loss |
|
$ |
(646 |
) |
|
$ |
(20,251 |
) |
|
$ |
(30,326 |
) |
(1) Other segment items consists primarily of expenses related to foreign currency gain or loss and income tax provision (benefit). Thermal Processing Solutions and Semiconductor Fabricated Solutions income tax provision was $1.4 million and $13,000.
(2) Non-segment items consists primarily of expenses related to corporate salaries and professional services expenses, income tax, interest income and interest expense.
|
|
Year Ended September 30, 2024 |
|
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|
|
Thermal Processing Solutions |
|
|
Semiconductor Fabrication Solutions |
|
|
Total |
|
|||
|
|
|
|
|
|
|
|
|
|
|||
Revenue |
|
$ |
69,161 |
|
|
$ |
32,053 |
|
|
$ |
101,214 |
|
Less: |
|
|
|
|
|
|
|
|
|
|||
Material |
|
|
33,045 |
|
|
|
12,022 |
|
|
|
45,067 |
|
Labor |
|
|
7,086 |
|
|
|
4,438 |
|
|
|
11,524 |
|
Overhead |
|
|
4,761 |
|
|
|
2,782 |
|
|
|
7,543 |
|
Intangible asset impairment |
|
|
- |
|
|
|
849 |
|
|
|
849 |
|
Gross profit |
|
|
24,269 |
|
|
|
11,962 |
|
|
|
36,231 |
|
Selling & marketing |
|
|
9,290 |
|
|
|
1,609 |
|
|
|
10,899 |
|
General & administrative |
|
|
5,820 |
|
|
|
6,889 |
|
|
|
12,709 |
|
Research & development |
|
|
2,840 |
|
|
|
1,353 |
|
|
|
4,193 |
|
Goodwill impairment |
|
|
— |
|
|
|
6,370 |
|
|
|
6,370 |
|
Intangible asset impairment |
|
|
— |
|
|
|
430 |
|
|
|
430 |
|
Severance expense |
|
|
123 |
|
|
|
186 |
|
|
|
309 |
|
Operating income (loss) |
|
|
6,196 |
|
|
|
(4,875 |
) |
|
|
1,321 |
|
Interest income |
|
|
13 |
|
|
|
— |
|
|
|
13 |
|
Interest expense |
|
|
(11 |
) |
|
|
— |
|
|
|
(11 |
) |
Other segment items (1) |
|
|
(1,081 |
) |
|
|
181 |
|
|
|
(900 |
) |
Non-segment items (2) |
|
|
— |
|
|
|
— |
|
|
|
(8,909 |
) |
Net income (loss) |
|
$ |
5,117 |
|
|
$ |
(4,694 |
) |
|
$ |
(8,486 |
) |
(1) Other segment items consists primarily of expenses related to foreign currency gain or loss and income tax provision (benefit). Thermal Processing Solutions and Semiconductor Fabricated Solutions income tax provision (benefit) was $0.8 million and ($0.2) million, respectively.
(2) Non-segment items consists primarily of expenses related to corporate salaries and professional services expenses, gain on sale of assets, income tax, interest income and interest expense.
|
|
September 30, |
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|
|
2025 |
|
|
2024 |
|
||
Depreciation and amortization: |
|
|
|
|
|
|
||
Thermal Processing Solutions |
|
$ |
1,031 |
|
|
$ |
788 |
|
Semiconductor Fabrication Solutions |
|
|
1,620 |
|
|
|
2,154 |
|
Non-segment related* |
|
|
91 |
|
|
|
87 |
|
|
|
$ |
2,742 |
|
|
$ |
3,029 |
|
* Non-segment related to depreciation and amortization expense at corporate.
|
|
September 30, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Identifiable assets: |
|
|
|
|
|
|
||
Thermal Processing Solutions |
|
$ |
56,019 |
|
|
$ |
68,051 |
|
Semiconductor Fabrication Solutions |
|
|
26,040 |
|
|
|
46,915 |
|
Non-segment related* |
|
|
10,814 |
|
|
|
4,347 |
|
|
|
$ |
92,873 |
|
|
$ |
119,313 |
|
* Non-segment related assets include cash, property and other assets.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Dec 10, 2025 | Showing above |
| 2024 | Dec 12, 2024 | |
| 2023 | Dec 14, 2023 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.