Axcelis Announces Financial Results for First Quarter 2026

May 7, 2026 - 17:17

Axcelis Technologies, Inc. has released its financial results for the first quarter of 2026, covering the period ending March 31. The company reported revenue of $245 million, a slight decrease from the $252 million recorded in the same quarter last year. Net income for the quarter came in at $38 million, or $1.15 per diluted share, compared to $42 million, or $1.27 per diluted share, in the first quarter of 2025.

The company attributed the dip in revenue to a softer demand environment in the memory market, particularly for NAND flash products. However, Axcelis saw strength in its power device and image sensor segments, which helped offset some of the decline. Gross margin for the quarter was 42.5%, down from 43.1% a year ago, driven by product mix and higher material costs.

Operating income was $44 million, yielding an operating margin of 18%. Cash and short-term investments stood at $480 million at the end of the quarter, reflecting solid liquidity. The company also generated $32 million in cash from operations during the period.

Looking ahead, Axcelis management provided guidance for the second quarter of 2026, projecting revenue in the range of $240 million to $255 million. They noted that while near-term market conditions remain cautious, the long-term outlook for ion implantation technology remains positive, driven by increasing chip complexity and demand for specialized semiconductor devices. The company continues to invest in research and development to support next-generation process technologies.