Axcelis Technologies Reports Strong Financial Results for Q4 and Full Year 2024

Axcelis Technologies, Inc. (NASDAQ: ACLS) recently released its financial results for the fourth quarter and full year ended December 31, 2024. The company’s quarterly revenue stood at $252.4 million, slightly down from $256.6 million in the previous quarter. Notably, the gross margin for the quarter improved to 46.0%, up from 42.9% in the third quarter. Operating profit for the quarter was $54.5 million, reflecting growth from $46.9 million in the prior quarter. Net income for the quarter showed a positive trajectory amounting to $50 million, or $1.54 per diluted share, compared to $48.6 million, or $1.49 per diluted share in the third quarter.

For the full year 2024, Axcelis reported revenue of $1.02 billion, a decrease from $1.13 billion in 2023. System revenue for the year was $782.6 million, down from $883.6 million in 2023. Despite the revenue decline, the company managed to generate an operating profit of $210.8 million during 2024. Net income for the year was $201 million with diluted earnings per share of $6.15, compared to $246.3 million in net income and $7.43 in diluted earnings per share in 2023. The gross margin for the year also exhibited improvement, reaching 44.7% compared to 43.5% in 2023.

President and CEO Russell Low expressed optimism, noting that Axcelis concluded the year on a strong note, surpassing expectations for revenue and profitability in the fourth quarter. Looking ahead to 2025, he anticipates a temporary cyclical digestion period as customers integrate past investments into mature node capacity. The company remains focused on innovation, cost management, and customer collaboration to fortify its position for future growth opportunities.

Executive Vice President and CFO Jamie Coogan also highlighted the company’s financial execution over 2024. Despite revenue decline, Axcelis managed to boost gross margins, generate robust free cash flow, execute share buybacks, and strengthen its balance sheet. This financial strength positions the company well to invest during the anticipated cyclical digestion period and drive value creation over the long term.

Axcelis Technologies’ outlook for the first quarter ending March 31, 2025, anticipates revenues of approximately $185 million and earnings per diluted share of around $0.38. The company is set to discuss these results in further detail during a conference call scheduled for February 11, 2025, at 8:30 a.m. ET.

The press release contains forward-looking statements that caution readers on potential risks and uncertainties, emphasizing the company’s commitment to providing high-productivity solutions for over 45 years in the semiconductor industry. Interested parties can access a webcast of the call through Axcelis’ website or register as a participant through the provided link.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Axcelis Technologies’s 8K filing here.

Axcelis Technologies Company Profile

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 Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.