ACLS earnings analysis
What we found in ACLS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Axcelis Technologies reported Q1 2026 results with revenue of $198.96 million, slightly exceeding estimates, and a diluted EPS of $0.72, beating expectations of $0.68. While revenue increased 3.3% year-over-year, gross margins declined significantly due to rising costs in services and a detrimental product mix, leading to decreased operating income. Management anticipates revenue growth in the next quarter, projecting approximately $205 million in Q2 2026.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth vs. Last Year
- Revenue increased to $198.96 million, a 3.3% increase from $192.56 million in Q1 2025.
- EPS Beat
- Reported EPS was $0.72, outperforming consensus estimates of $0.68.
- Strong Aftermarket Revenue
- Aftermarket revenue rose 32% year-over-year to $72.6 million.
- Cash Position
- Unrestricted cash and cash equivalents stood at $150.8 million.
- Positive Revenue Guidance
- Management expects Q2 revenue to reach approximately $205 million.
- Small Revenue Beat
- Actual revenue surpassed estimates by $3.92 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Gross Margin
- Gross margin fell to 40.5%, down from 46.1% in Q1 2025, due to unfavorable product mix.
- Increased Operating Expenses
- Total operating expenses rose by 21.8% to $72.6 million, limiting profitability.
- Market Investment Slowdown
- Sales of systems declined as customer investment in mature process technologies moderated.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.72
- Gross margin
- 40.5%
- Operating margin
- 4.0%
- Segment
- Product
- Segment
- Services
What they said about what is next.
Management anticipates revenue of approximately $205 million for Q2 2026, driven by demand for aftermarket services.
The filing reads worse than the one before it.
What came before.
- 10-K · February 26, 2026
- Axcelis reported FY2025 revenue of $839.0M and diluted EPS of $3.80, with gross margin essentially stable at 44.9% while operating profit declined to $119.3M from $210.8M in 2024. The company generated $118.3M of cash…
- 10-Q · November 6, 2025
- Axcelis Technologies' Q3 2025 results show a slight revenue decline but exceeded analyst expectations, reporting revenues of $213.6 million and EPS of $1.21 against estimates of $200.2 million and $0.95 respectively.…
- 10-Q · May 6, 2025
- Axcelis reported Q1 revenue of $192,563,000 and diluted EPS of $0.88 for the three months ended March 31, 2025. Revenue and earnings declined materially year-over-year, but gross margin held at 46.1% and operating cash…
- 10-Q · November 7, 2024
- Axcelis reported Q3 revenue of $256,564,000 and diluted EPS of $1.49. Revenue, gross profit and operating income all declined versus the year-ago quarter (revenue down $35,762,000; income from operations down…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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