ACLS FY 2023 Earnings Report — Axcelis Technologies, Inc. Revenue & Financial Results | Market Cap Arena

Axcelis Technologies, Inc.ACLS

FY 2023 Earnings

Reported February 23, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.1B	—	$920M	—	22.9%
Op. Income	$266M	—	$212M	—	25.2%
Gross Margin	43.5%	—	43.7%	—	-0.2pp
Net Margin	21.8%	—	19.9%	—	1.9pp
EPS (Diluted)	$7.43	—	$5.46	—	36.1%
Free Cash Flow	$136M	—	$205M	—	-33.5%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$639M
GROSS PROFIT	$491M
R&D Expenses	$97M
Selling & Marketing	$63M
General & Administrative	$66M
SG&A Expenses	$129M
Other Expenses	$0
Operating Expenses	$226M
Cost & Expenses	$865M
OPERATING INCOME	$266M
Interest Income	$18M
Interest Expense	$5M
Other Income/Expenses	$13M
INCOME BEFORE TAX	$279M
Income Tax Expense	$32M
Net Income from Continuing Ops	$246M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$246M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$246M
D&A	$13M
EBIT	$284M
EBITDA	$297M
EPS	$8
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$639M
GROSS PROFIT	$491M
R&D Expenses	$97M
Selling & Marketing	$63M
General & Administrative	$66M
SG&A Expenses	$129M
Other Expenses	$0
Operating Expenses	$226M
Cost & Expenses	$865M
OPERATING INCOME	$266M
Interest Income	$18M
Interest Expense	$5M
Other Income/Expenses	$13M
INCOME BEFORE TAX	$279M
Income Tax Expense	$32M
Net Income from Continuing Ops	$246M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$246M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$246M
D&A	$13M
EBIT	$284M
EBITDA	$297M
EPS	$8
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$246M
Depreciation & Amortization	$13M
Stock-Based Compensation	$18M
Deferred Income Tax	-$20M
Other Non-Cash Items	-$3M
Change in Working Capital	-$97M
OPERATING CASH FLOW	$157M
Capital Expenditure	-$21M
Acquisitions (Net)	$0
Purchases of Investments	-$389M
Sales/Maturities of Investments	$309M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$101M
Net Debt Issuance	-$1M
Common Stock Repurchased	-$52M
Common Dividends Paid	$0
Other Financing Activities	-$15M
NET CASH FROM FINANCING	-$68M
FREE CASH FLOW	$136M
Net Change in Cash	-$12M

Balance Sheet

Item	Amount
Cash & Equivalents	$167M
Short-Term Investments	$339M
Net Receivables	$218M
Inventory	$306M
Other Current Assets	$49M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$101M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$53M
Other Non-Current Assets	$47M
TOTAL NON-CURRENT ASSETS	$202M
TOTAL ASSETS	$1.3B
Account Payables	$54M
Short-Term Debt	$0
Deferred Revenue	$165M
Other Current Liabilities	$58M
TOTAL CURRENT LIABILITIES	$285M
Long-Term Debt	$0
Deferred Revenue NC	$46M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$42M
TOTAL NON-CURRENT LIABILITIES	$132M
TOTAL LIABILITIES	$417M
Common Stock	$33.0K
Additional Paid-In Capital	$547M
Retained Earnings	$320M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$865M
Minority Interest	$0
TOTAL EQUITY	$865M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$45M
Net Debt	-$122M