ACLS

MKT CAP:$4B

Axcelis Technologies, Inc.

Market Cap

$4B

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$139.86+$53.74 (+62.40%)

Apr 23, 2026

Company Details

Axcelis Technologies, Inc. designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips in the United States, Europe, and Asia. The company offers high energy, high curre...

CEO

Russell J. Low

IPO Date

Jul 11, 2000

Website

www.axcelis.com

Key Metrics TTM

Revenue

$839M

-17.6% YoY

Net Income

$120M

EPS (Diluted)

$3.79

Free Cash Flow

$107M

Revenue / Share

$26.96

Gross Margin

44.9%

Operating Margin

14.2%

Net Margin

14.3%

FCF Margin

12.8%

P/S

5.3x

P/E

37.0x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 26, 2026

$839M-17.6%EPS $3.80

Q4 2025

Feb 26, 2026

$238M-5.6%EPS $1.10

Q3 2025

Nov 6, 2025

$214M-16.7%EPS $0.83

Q2 2025

Aug 5, 2025

$195M-24.2%EPS $0.98

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$204M	$90M	$49M
Q2 22	$221M	$99M	$54M
Q3 22	$229M	$103M	$53M
Q4 22	$266M	$110M	$56M
Q1 23	$254M	$104M	$51M
Q2 23	$274M	$120M	$64M
Q3 23	$292M	$130M	$72M
Q4 23	$310M	$138M	$79M
Q1 24	$252M	$116M	$57M
Q2 24	$257M	$112M	$53M
Q3 24	$257M	$110M	$47M
Q4 24	$252M	$116M	$55M
Q1 25	$193M	$89M	$29M
Q2 25	$195M	$87M	$29M
Q3 25	$214M	$89M	$25M
Q4 25	$238M	$112M	$36M

Valuation

Quarter	P/S	P/E
Q1 22	3.6x	21.1x
Q2 22	2.4x	12.9x
Q3 22	2.4x	12.8x
Q4 22	3.3x	16.5x
Q1 23	4.5x	22.9x
Q2 23	5.8x	28.9x
Q3 23	4.9x	22.9x
Q4 23	3.5x	16.0x
Q1 24	3.2x	14.7x
Q2 24	4.1x	19.2x
Q3 24	3.2x	15.4x
Q4 24	2.2x	11.3x
Q1 25	1.7x	9.0x
Q2 25	2.5x	14.2x
Q3 25	3.6x	22.8x
Q4 25	3.1x	21.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$26M	$24M
Q2 22	$3M	$2M
Q3 22	$64M	$60M
Q4 22	$122M	$119M
Q1 23	$35M	$32M
Q2 23	$33M	$30M
Q3 23	$24M	$19M
Q4 23	$66M	$55M
Q1 24	$42M	$41M
Q2 24	$40M	$38M
Q3 24	$46M	$42M
Q4 24	$13M	$8M
Q1 25	$40M	$35M
Q2 25	$40M	$38M
Q3 25	$45M	$43M
Q4 25	-$7M	-$9M

Capital Expenditures

Quarter	CapEx
Q1 22	$2M
Q2 22	$2M
Q3 22	$4M
Q4 22	$4M
Q1 23	$2M
Q2 23	$3M
Q3 23	$5M
Q4 23	$10M
Q1 24	$2M
Q2 24	$2M
Q3 24	$4M
Q4 24	$5M
Q1 25	$5M
Q2 25	$2M
Q3 25	$2M
Q4 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+53.3%	+37.6%
Q2 22	+50.2%	+35.5%
Q3 22	+29.7%	+25.4%
Q4 22	+29.3%	+32.0%
Q1 23	+24.8%	+31.0%
Q2 23	+23.9%	+25.9%
Q3 23	+27.6%	+25.4%
Q4 23	+16.6%	+10.1%
Q1 24	-0.6%	-3.4%
Q2 24	-6.4%	-3.1%
Q3 24	-12.2%	-5.0%
Q4 24	-18.7%	-14.4%
Q1 25	-23.7%	-16.6%
Q2 25	-24.2%	-18.7%
Q3 25	-16.7%	-10.0%
Q4 25	-5.6%	+2.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$3M	1.3%
Q2 22	$4M	1.6%
Q3 22	$4M	1.6%
Q4 22	$4M	1.4%
Q1 23	$3M	1.3%
Q2 23	$5M	1.7%
Q3 23	$5M	1.7%
Q4 23	$5M	1.7%
Q1 24	$5M	1.9%
Q2 24	$5M	2.1%
Q3 24	$5M	2.1%
Q4 24	$5M	2.1%
Q1 25	$5M	2.5%
Q2 25	$5M	2.8%
Q3 25	$0	0.0%
Q4 25	$5M	2.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$17M	$13M	$11M
Q2 22	$19M	$14M	$13M
Q3 22	$21M	$15M	$15M
Q4 22	$22M	$16M	$15M
Q1 23	$24M	$15M	$14M
Q2 23	$24M	$16M	$16M
Q3 23	$24M	$17M	$16M
Q4 23	$25M	$17M	$17M
Q1 24	$26M	$16M	$17M
Q2 24	$26M	$17M	$17M
Q3 24	$26M	$20M	$17M
Q4 24	$28M	$17M	$17M
Q1 25	$27M	$17M	$15M
Q2 25	$27M	$16M	$15M
Q3 25	$25M	$23M	$16M
Q4 25	$30M	$26M	$19M

Revenue Segments

Quarter	Aftermarket	Systems
Q1 22	$52M	$152M
Q2 22	$56M	$165M
Q3 22	$58M	$171M
Q4 22	$62M	$204M
Q1 23	$59M	$195M
Q2 23	$59M	$215M
Q3 23	$61M	$231M
Q4 23	$69M	$242M
Q1 24	$57M	$195M
Q2 24	$58M	$199M
Q3 24	$56M	$201M
Q4 24	$65M	$187M
Q1 25	$55M	$138M
Q2 25	$61M	$133M

Revenue by Geography

Quarter	Asia Pacific	Europe	North America
Q1 22	$149M	$29M	$25M
Q2 22	$169M	$18M	$35M
Q3 22	$166M	$27M	$36M
Q4 22	-$237M	-$35M	$538M
Q1 23	$191M	$18M	$45M
Q2 23	$206M	$30M	$38M
Q3 23	$185M	$56M	$52M
Q4 23	$229M	$41M	$40M
Q1 24	$188M	$19M	$46M
Q2 24	$196M	$26M	$34M
Q3 24	$202M	$21M	$33M
Q4 24	$194M	$27M	$31M
Q1 25	$134M	$18M	$41M
Q2 25	$146M	$15M	$34M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$297M	$0	$297M
Q2 22	$287M	$0	$287M
Q3 22	$309M	$34M	$342M
Q4 22	$186M	$247M	$432M
Q1 23	$164M	$280M	$445M
Q2 23	$133M	$320M	$453M
Q3 23	$142M	$319M	$461M
Q4 23	$167M	$339M	$506M
Q1 24	$134M	$396M	$530M
Q2 24	$145M	$403M	$548M
Q3 24	$120M	$459M	$579M
Q4 24	$124M	$448M	$571M
Q1 25	$184M	$403M	$587M
Q2 25	$174M	$376M	$550M
Q3 25	$188M	$262M	$450M
Q4 25	$145M	$229M	$374M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	34M	-0.1%	-1.9%
Q2 22	34M	-1.2%	-2.2%
Q3 22	33M	-0.5%	-2.1%
Q4 22	33M	-0.4%	-2.2%
Q1 23	33M	+0.1%	-2.0%
Q2 23	33M	-0.3%	-1.1%
Q3 23	33M	-0.1%	-0.7%
Q4 23	33M	-0.4%	-0.7%
Q1 24	33M	-0.3%	-1.1%
Q2 24	33M	-0.5%	-1.3%
Q3 24	33M	-0.3%	-1.5%
Q4 24	33M	-0.5%	-1.6%
Q1 25	32M	-0.6%	-1.8%
Q2 25	32M	-0.7%	-2.0%
Q3 25	31M	-2.0%	-3.7%
Q4 25	31M	-1.0%	-4.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$181.5K	1K
Q2 22	$197.1K	1K
Q3 22	$204.3K	1K
Q4 22	$191.7K	1K
Q1 23	$183.0K	1K
Q2 23	$197.4K	1K
Q3 23	$210.6K	1K
Q4 23	$191.5K	2K
Q1 24	$155.8K	2K
Q2 24	$158.3K	2K
Q3 24	$158.4K	2K
Q4 24	$165.6K	2K
Q1 25	$126.4K	2K
Q2 25	$127.7K	2K
Q3 25	$140.2K	2K
Q4 25	$162.7K	1K

Revenue / Employee