ASYS

MKT CAP:$275M

Amtech Systems, Inc.

Market Cap

$275M

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$17.24+$4.29 (+33.13%)

Apr 23, 2026

Company Details

Amtech Systems, Inc. manufactures and sells capital equipment and related consumables for use in fabricating silicon carbide (SiC), silicon power devices, analog and discrete devices, electronic assemblies, and light-emitting diodes (LEDs) ...

CEO

Robert C. Daigle

IPO Date

Aug 9, 1983

Website

www.amtechsystems.com

Key Metrics TTM

Revenue

$83M

-20.8% YoY

Net Income

-$32M

EPS (Diluted)

-$1.64

Free Cash Flow

$8M

Revenue / Share

$5.66

Gross Margin

32.9%

Operating Margin

-36.7%

Net Margin

-38.4%

FCF Margin

9.7%

P/S

3.3x

P/E

—

Earnings Reports

Q2 2026

May 11, 2026

PENDING

Q1 2026

Feb 5, 2026

$19M-22.2%EPS $0.01

FY 2025

Dec 10, 2025

$79M-21.6%EPS -$2.12

Q2 2025

May 12, 2025

$16M-38.7%EPS -$2.23

Q1 2025

Feb 5, 2025

$24M-2.1%EPS $0.02

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$24M	$9M	$1M
Q1 22	$26M	$10M	$1M
Q2 22	$28M	$11M	$3M
Q3 22	$20M	$6M	$10M
Q4 22	$32M	$13M	$4M
Q1 23	$22M	$8M	-$3M
Q2 23	$33M	$13M	$519.0K
Q3 23	$31M	$11M	-$1M
Q4 23	$28M	$3M	-$12M
Q1 24	$25M	$8M	-$9M
Q2 24	$25M	$8M	$1M
Q3 24	$27M	$10M	$816.0K
Q4 24	$24M	$10M	$26.0K
Q1 25	$24M	$9M	$339.0K
Q2 25	$16M	-$325.0K	-$32M
Q1 26	$19M	$8M	$775.0K

Valuation

Quarter	P/S	P/E
Q4 21	3.2x	182.2x
Q1 22	2.9x	153.8x
Q2 22	2.7x	68.7x
Q3 22	2.8x	19.8x
Q4 22	2.6x	15.8x
Q1 23	2.7x	20.2x
Q2 23	2.6x	18.5x
Q3 23	2.3x	76.0x
Q4 23	2.4x	—
Q1 24	2.4x	—
Q2 24	2.5x	—
Q3 24	2.6x	—
Q4 24	2.7x	—
Q1 25	2.7x	232.0x
Q2 25	3.0x	—
Q1 26	3.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$3M	-$5M
Q1 22	$2M	$2M
Q2 22	-$3M	-$3M
Q3 22	$5M	$5M
Q4 22	$114.0K	-$696.0K
Q1 23	-$3M	-$3M
Q2 23	-$3M	-$4M
Q3 23	-$2M	-$3M
Q4 23	-$551.0K	-$2M
Q1 24	$5M	$4M
Q2 24	$336.0K	-$884.0K
Q3 24	$4M	$322.0K
Q4 24	$879.0K	$1M
Q1 25	$3M	$3M
Q2 25	$210.0K	$201.0K
Q1 26	$4M	$4M

Capital Expenditures

Quarter	CapEx
Q4 21	$2M
Q1 22	$45.0K
Q2 22	$80.0K
Q3 22	$200.0K
Q4 22	$810.0K
Q1 23	$224.0K
Q2 23	$752.0K
Q3 23	$946.0K
Q4 23	$976.0K
Q1 24	$756.0K
Q2 24	$1M
Q3 24	$3M
Q4 24	$432.0K
Q1 25	$143.0K
Q2 25	$9.0K
Q1 26	$277.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+61.4%	+41.7%
Q1 22	+47.2%	+49.1%
Q2 22	+39.2%	+27.2%
Q3 22	-13.6%	-52.5%
Q4 22	+32.8%	+23.4%
Q1 23	-18.5%	-3.9%
Q2 23	+20.9%	+31.4%
Q3 23	+54.0%	+206.3%
Q4 23	-14.3%	+38.6%
Q1 24	+15.6%	+39.7%
Q2 24	-23.6%	-26.6%
Q3 24	-13.0%	-18.6%
Q4 24	-13.0%	-38.9%
Q1 25	-2.1%	-29.0%
Q2 25	-38.7%	+95.9%
Q1 26	-29.1%	-29.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$124.0K	0.5%
Q1 22	$103.0K	0.4%
Q2 22	$137.0K	0.5%
Q3 22	$146.0K	0.7%
Q4 22	$157.0K	0.5%
Q1 23	$164.0K	0.8%
Q2 23	$174.0K	0.5%
Q3 23	$190.0K	0.6%
Q4 23	$744.0K	2.7%
Q1 24	$317.0K	1.3%
Q2 24	$350.0K	1.4%
Q3 24	$488.0K	1.8%
Q4 24	$375.0K	1.6%
Q1 25	$333.0K	1.4%
Q2 25	$290.0K	1.9%
Q1 26	$249.0K	1.3%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q4 21	$1M	—	$7M
Q1 22	$2M	—	$7M
Q2 22	$2M	—	$7M
Q3 22	$2M	$7M	—
Q4 22	$1M	—	$7M
Q1 23	$1M	—	$9M
Q2 23	$2M	—	$11M
Q3 23	$2M	$10M	—
Q4 23	$3M	—	$11M
Q1 24	$2M	—	$9M
Q2 24	$921.0K	—	$8M
Q3 24	$693.0K	—	$8M
Q4 24	$991.0K	—	$9M
Q1 25	$876.0K	—	$8M
Q2 25	$832.0K	—	$7M
Q1 26	$840.0K	—	$7M

Revenue Segments

Quarter	Material And Substrate	Semiconductor Equipment
Q4 21	$4M	$20M
Q1 22	$4M	$24M
Q2 22	$4M	$25M
Q3 22	$5M	$15M
Q4 22	$6M	$26M
Q1 23	$5M	$17M
Q2 23	$11M	$22M
Q3 23	$11M	$20M
Q4 23	$9M	$19M
Q1 24	$7M	$18M
Q2 24	$8M	$17M
Q3 24	$9M	$18M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$28M	$0	$28M
Q3 22	$48M	$0	$48M
Q4 22	$47M	$0	$47M
Q1 23	$45M	$0	$45M
Q2 23	$18M	$0	$18M
Q3 23	$14M	$0	$14M
Q4 23	$13M	$0	$13M
Q1 24	$17M	$0	$17M
Q2 24	$13M	$0	$13M
Q3 24	$13M	$0	$13M
Q4 24	$11M	$0	$11M
Q1 25	$13M	$0	$13M
Q2 25	$13M	$0	$13M
Q3 25	$16M	$0	$16M
Q4 25	$18M	$0	$18M
Q1 26	$22M	$0	$22M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	14M	+0.8%	+3.1%
Q1 22	14M	+0.0%	+2.6%
Q2 22	14M	-2.4%	-0.0%
Q3 22	14M	-0.8%	-2.4%
Q4 22	14M	+0.4%	-2.8%
Q1 23	14M	-0.5%	-3.3%
Q2 23	14M	+1.1%	+0.1%
Q3 23	14M	-0.7%	+0.2%
Q4 23	14M	+0.8%	+0.6%
Q1 24	14M	+0.2%	+1.3%
Q2 24	14M	+0.1%	+0.4%
Q3 24	14M	+0.3%	+1.4%
Q4 24	14M	-0.3%	+0.3%
Q1 25	14M	+0.6%	+0.8%
Q2 25	14M	-0.0%	+0.6%
Q1 26	15M	+2.7%	+3.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$82.2K	296
Q1 22	$89.4K	296
Q2 22	$93.1K	296
Q3 22	$67.4K	296
Q4 22	$98.8K	327
Q1 23	$65.9K	327
Q2 23	$101.9K	327
Q3 23	$94.0K	327
Q4 23	$68.4K	405
Q1 24	$61.5K	405
Q2 24	$62.8K	405
Q3 24	$66.0K	405
Q4 24	$73.5K	328
Q1 25	$74.3K	328
Q2 25	$47.5K	328
Q1 26	$71.9K	264

Revenue / Employee