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WKN: A0H0YX | ISIN: IL0010952641 | Ticker-Symbol: CMZ
Tradegate
04.08.25 | 12:58
85,00 Euro
+1,19 % +1,00
Branche
Software
Aktienmarkt
Sonstige
1-Jahres-Chart
CAMTEK LTD Chart 1 Jahr
5-Tage-Chart
CAMTEK LTD 5-Tage-Chart
RealtimeGeldBriefZeit
74,5076,5018:34
74,5076,5018:34
PR Newswire
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Camtek Ltd.: Camtek Announces Record Results For The Second Quarter Of 2025

Anticipates continued growth in Q3, with revenues of approximately $125 million, representing an annualized run rate of half a billion dollars

MIGDAL HAEMEK, Israel, Aug. 5, 2025 /PRNewswire/ -- Camtek Ltd. (NASDAQ: CAMT) (TASE: CAMT), today announced its financial results for the second quarter ended June 30, 2025.

2025 Second Quarter Financial Highlights

  • Record revenues of $123.3 million, a 20% YoY increase;
  • GAAP gross margin of 50.8% and non-GAAP gross margin of 51.9%;
  • GAAP operating income of $32.0 million (up 24% YoY) and non-GAAP operating income of $37.4 million (up 21% YoY), representing operating margins of 25.9% and 30.3%, respectively; and
  • GAAP net income of $33.7 million (up 20% YoY) and non-GAAP net income of $38.8 million (up 19% YoY); GAAP diluted EPS of $0.69 and non-GAAP diluted EPS of $0.79.

Forward-Looking Expectations

Management expects continued growth in the third quarter of 2025 with revenue of approximately $125 million, representing an annual run rate of half a billion dollars in revenue.

Management Comment

Rafi Amit, Camtek's CEO commented, "Camtek continues to deliver record performance in 2025, with 20% year-over-year growth in revenues and strong gross margins at around the 52% level, contributing to record quarterly operating income. Our ongoing growth continues to be driven primarily by the high-performance computing applications for AI."

Continued Mr. Amit, "The Advanced Packaging segment is rapidly evolving with technological advancements, to support the requirements of the fast-paced evolution of High-Performance Computers for AI. The market for advanced packaging solutions that enable AI is projected to grow at a rapid rate in the coming years. We anticipate these new requirements to trigger an industry-wide upgrade cycle, fueling demand for next-generation inspection and metrology tools. Our recently introduced Eagle G5 and Hawk systems are built with a view of these new technological requirements and have, to date, been very well received by the market."

Concluded Mr. Amit, "Looking ahead, in the third quarter we expect to reach our significant milestone and long-term goal of half a billion dollars in revenue, and we continue to have a healthy order flow and pipeline into the fourth quarter. Camtek has become a market leader in its domain. We believe that the new packaging technologies represent major growth opportunities for us in the coming years."

Second Quarter 2025 Financial Results

Revenues for the second quarter of 2025 were $123.3 million. This compares to second quarter 2024 revenues of $102.6 million, a year-over-year growth of 20%.

Gross profit on a GAAP basis in the quarter totaled $62.2 million (50.8% of revenues), an increase of 22% compared to $51.1 million (49.9% of revenues) in the second quarter of 2024.

Gross profit on a non-GAAP basis in the quarter totaled $64.0 million (51.9% of revenues), an increase of 22% compared to $52.4 million (51.0% of revenues) in the second quarter of 2024.

Operating income on a GAAP basis in the quarter totaled $32.0 million (25.9% of revenues), an increase of 24% compared to $25.9 million (25.2% of revenues) in the second quarter of 2024.

Operating income on a non-GAAP basis in the quarter totaled $37.4 million (30.3% of revenues), an increase of 21% compared to $30.8 million (30.0% of revenues) in the second quarter of 2024.

Net income on a GAAP basis in the quarter totaled $33.7 million, or $0.69 per diluted share, an increase of 21% compared to net income of $28.0 million, or $0.57 per diluted share, in the second quarter of 2024.

Net income on a non-GAAP basis in the quarter totaled $38.8 million, or $0.79 per diluted share, an increase of 19% compared to a non-GAAP net income of $32.6 million, or $0.66 per diluted share, in the second quarter of 2024.

Cash and cash equivalents, short-term and long-term deposits, and marketable securities, as of June 30, 2025, were $543.9 million compared to $522.6 million as of March 31, 2025. During the second quarter, the Company generated an operating cash flow of $23.5 million.

Conference Call

Camtek will host a video conference call/webinar today via Zoom, on August 5, 2025, at 09:00 ET (16:00 Israel time). Rafi Amit, CEO, Moshe Eisenberg, CFO, and Ramy Langer, COO will host the call and will be available to answer questions after presenting the results.

To participate in the webinar, please register using the following link, which will provide access to the video call: https://us06web.zoom.us/webinar/register/WN_vO7fjrtzSI2vxwrecVbQNQ.

For those wishing to listen via phone, following registration, the dial in link will be sent. For any problems in registering, please email Camtek's investor relations a few hours in advance of the call.

For those unable to participate, a recording will be available on Camtek's website at http://www.camtek.com within a few hours after the call.

A summary presentation of the quarterly results will also be available on Camtek's website.

ABOUT CAMTEK LTD.

Camtek is a developer and manufacturer of high-end inspection and metrology equipment for the semiconductor industry. Camtek's systems inspect IC and measure IC features on wafers throughout the production process of semiconductor devices, covering the front and mid-end and up to the beginning of assembly (Post Dicing). Camtek's systems inspect wafers for the most demanding semiconductor market segments, including Advanced Interconnect Packaging, Heterogenous Integration, Memory and HBM, CMOS Image Sensors, Compound Semiconductors, MEMS, and RF, serving numerous industries' leading global IDMs, OSATs, and foundries.

With manufacturing facilities in Israel and Germany, and eight offices around the world, Camtek provides state of the art solutions in line with customers' requirements.

This press release is available at http://www.camtek.com.

This press release contains statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on Camtek's current beliefs, expectations and assumptions about its business and industry, all of which may change. Forward-looking statements can be identified by the use of words including "believe," "anticipate," "should," "intend," "plan," "will," "may," "expect," "estimate," "project," "positioned," "strategy," and similar expressions that are intended to identify forward-looking statements, including our expectations and statements relating to the compound semiconductors market and our position in this market and the anticipated timing of delivery of the systems. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Camtek to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause our actual results to differ materially from those contained in the forward-looking statements include, but are not limited to, the effects of the evolving nature of the war situation in Israel, and the related evolving regional conflicts; the continued demand and future contribution of HPC, HBM and Chiplet applications and devices to the Company business resulting from, among other things, the field of AI surging worldwide across companies, industries and geographies; formal or informal imposition by countries of new or revised export and/or import and doing-business regulations or sanctions, including but not limited to changes in U.S. trade policies, changes or uncertainty related to the U.S. government entity list and changes in the ability to sell products incorporating U.S. originated technology, which can be made without prior notice, and our ability to effectively address such global trade issues and changes; our dependency on the semiconductor industry and the risk that adverse economic conditions, reduced capital expenditures, or cyclical downturns may negatively impact our results; the concentration of our business in certain Asia Pacific countries, particularly China, Taiwan, and Korea, which may be subject to trade restrictions, regulatory changes, or geopolitical tensions; and those other factors discussed in our Annual Report on Form 20-F as published on March 19, 2025 as well as other documents filed by the Company with the SEC as well as other documents that may be subsequently filed by Camtek from time to time with the Securities and Exchange Commission. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Camtek does not assume any obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release unless required by law.

While we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. In addition, any forward-looking statements represent Camtek's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Camtek does not assume any obligation to update any forward-looking statements unless required by law.

This press release provides financial measures that exclude: (i) share based compensation expenses; and (ii) acquisition related expenses and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when evaluating the business internally and therefore felt it is important to make these non-GAAP adjustments available to investors. A reconciliation between the GAAP and non-GAAP results appears in the tables at the end of this press release.

Logo: https://mma.prnewswire.com/media/1534463/Camtek_logo.jpg

CAMTEK LTD.
Moshe Eisenberg, CFO
Tel: +972 4 604 8308
Mobile: +972 54 900 7100
[email protected]

INTERNATIONAL INVESTOR RELATIONS
EK Global Investor Relations
Ehud Helft
Tel: (US) 1 212 378 8040
[email protected]

Consolidated Balance Sheets (unaudited)

(In thousands)





June 30,

December 31,


2025

2024


U.S. Dollars

Assets






Current assets



Cash and cash equivalents

192,028

126,224

Short-term deposits

204,000

231,000

Marketable securities

39,965

30,813

Trade accounts receivable, net

112,018

99,471

Inventories

133,709

111,204

Other current assets

21,218

21,347




Total current assets

702,938

620,059










Long-term deposits

20,000

26,000

Marketable securities

87,867

87,115

Long-term inventory

15,359

11,879

Deferred tax asset, net

3,711

3,090

Other assets, net

2,060

2,001

Property, plant and equipment, net

56,805

54,196

Intangible assets, net

11,656

13,357

Goodwill

74,345

74,345




Total non- current assets

271,803

271,983




Total assets

974,741

892,042




Liabilities and shareholders' equity






Current liabilities



Trade accounts payable

40,895

46,630

Other current liabilities

89,080

77,280




Total current liabilities

129,975

123,910




Long-term liabilities



Deferred tax liabilities, net

5,210

5,606

Other long-term liabilities

14,600

15,366

Convertible notes

198,472

197,925

Total long-term liabilities

218,282

218,897




Total liabilities

348,257

342,807




Commitments and contingencies






Shareholders' equity



Ordinary shares NIS 0.01 par value, 100,000,000 shares authorized at
June 30, 2025 and at December 31, 2024;



47,794,821 issued shares at June 30, 2025 and 47,541,682 at
December 31, 2024;



45,702,445 shares outstanding at June 30, 2025 and 45,449,306 at
December 31, 2024

178

177

Additional paid-in capital

223,206

214,931

Accumulated other comprehensive income (loss)

1,170

203

Retained earnings

403,828

335,822


628,382

551,133

Treasury stock, at cost (2,092,376 shares as of June 30, 2025 and
December 31, 2024)

(1,898)

(1,898)




Total shareholders' equity

626,484

549,235




Total liabilities and shareholders' equity

974,741

892,042







Consolidated Statements of Income (unaudited)

(in thousands)










Six months ended
June 30,

Three months
ended June 30,

Year ended
December 31,



2025

2024

2025

2024

2024



U.S. dollars

U.S. dollars

U.S. dollars

Revenues


241,955

199,601

123,317

102,591

429,234

Cost of revenues


118,780

103,638

60,706

51,447

219,283








Gross profit


123,175

95,963

62,611

51,144

209,951








Operating expenses:







Research and development


21,836

18,146

11,474

9,196

38,287

Selling, general and administrative


36,665

30,694

19,163

16,063

63,595

Total operating expenses


58,501

48,840

30,637

25,259

101,882








Operating income


64,674

47,123

31,974

25,885

108,069








Financial income, net


10,375

10,624

4,942

5,014

23,169








Income before income taxes


75,049

57,747

36,916

30,899

131,238








Income tax expense


(7,043)

(4,984)

(3,221)

(2,935)

(12,723)








Net income


68,006

52,763

33,695

27,964

118,515

Earnings per share information:








Six months ended
June 30,

Three months
ended June 30,

Year ended
December 31,


2025

2024

2025

2024

2024


U.S. dollars

U.S. dollars

U.S. dollars

Basic net earnings per share (in US dollars)

1.49

1.17

0.74

0.62

2.62







Diluted net earnings per share

(in US dollars)

1.39

1.08

0.69

0.57

2.63







Weighted average number of






ordinary shares outstanding






(in thousands):












Basic

45,622

45,160

45,682

45,246

45,279







Diluted

49,306

49,283

49,327

49,310

49,369

Reconciliation of GAAP To Non-GAAP results

(In thousands, except share data)








Six Months ended
June 30,

Three Months ended
June 30,

Year ended
December 31,


2025

2024

2025

2024

2024


U.S. dollars

U.S. dollars

U.S. dollars

Reported net income attributable to
Camtek Ltd. on GAAP basis

68,006

52,763

33,695

27,964

118,515

Acquisition of FRT related expenses (1)

1,300

4,034

650

650

5,334

Share-based compensation

8,203

7,109

4,493

3,991

14,775

Non-GAAP net income

77,509

63,906

38,838

32,605

138,624







Non-GAAP net income per diluted share

1.57

1.30

0.79

0.66

2.83

Gross margin on GAAP basis

50.9 %

48.1 %

50.8 %

49.9 %

49.6 %

Reported gross profit on GAAP basis

123,175

95,963

62,611

51,144

209,951

Acquisition of FRT related expenses (1)

1,220

4,582

610

610

5,802

Share-based compensation

1,344

1,006

763

608

2,197

Non- GAAP gross profit

125,729

101,551

63,984

52,362

217,950

Non-GAAP gross margin

52.0 %

50.9 %

51.9 %

51.0 %

50.8 %







Reported operating income attributable to
Camtek Ltd. on GAAP basis

64,674

47,123

31,974

25,885

108,069

Acquisition of FRT related expenses (1)

1,856

5,599

928

928

7,455

Share-based compensation

8,203

7,109

4,493

3,991

14,775

Non-GAAP operating income

74,733

59,831

37,395

30,804

130,299

SOURCE Camtek Ltd.

© 2025 PR Newswire
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