AXCELIS TECHNOLOGIES INC (ACLS) FY2025 10-K Annual Report
AXCELIS TECHNOLOGIES INC (ACLS) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
AXCELIS TECHNOLOGIES INC FY2025 10-K Analysis
Business Overview
- • Core business: manufacturer of ion implantation and processing equipment for semiconductor chip fabrication plus aftermarket services
- • No new products or segments introduced; emphasis on systems revenue of $571M in 2025, comprising major portion of total $839M revenue
- • Strategic shift: reclassification of holdings, selling $199.5M of securities from held-to-maturity to available-for-sale, impacting short-term investments
- • Key metric: net income declined to $120.2M in 2025 from $201.0M in 2024; employee share count down to 30,717K from 32,365K
- • Noteworthy fact: sale and reclassification of investment securities in 2025 caused related adjustments to accumulated other comprehensive loss
Management Discussion & Analysis
- • Revenue $839.0M in 2025, down 17.6% YoY from $1,017.9M; product revenue $792.0M (-18.9%), services $47.0M (+14.7%)
- • Gross margin slightly up at 44.9% vs 44.7% in 2024; product gross margin 47.9% vs 46.3%, services margin -5.1% vs 5.4%
- • Best segment: product revenue $792.0M with 47.9% margin; worst segment: services revenue $47.0M with negative margin -5.1%
- • Operating expenses rose to 30.7% of revenue vs 24.0% due to R&D (13.0% vs 10.4%), G&A (9.9% vs 6.9%); operating income down to 14.2% from 20.7%
- • Cash from operations $118.3M; capex $11.3M; stock repurchase $121.1M; cash and equivalents $145.5M; forecasted 2026 capex ~$18M
- • Management cautious due to semiconductor capital spending cyclicality; continuing investment in innovation and aftermarket growth; no significant liquidity concerns
Risk Factors
- • U.S. export controls tightening since 2020 on shipments to Chinese chipmakers, including SMIC on the Entity List, threaten 76.0% of system revenue from Asia
- • Geopolitical risk from China-U.S. trade tensions with Chinese customers representing significant revenue, exposing 83.7% of total revenue to potential restrictions
- • Supply chain dependence on limited vendors risks delays, cost increases, and potential lost sales due to component shortages or inability to adjust inventory promptly
- • Competition threat from non-U.S. vendors like Advanced Ion Beam Technology and emerging Chinese entities Kingstone Semiconductor and CETC Electronics Equipment Group
- • Customer concentration risk with top 10 customers accounting for 55.2% of net sales in 2025, none under long-term purchase agreements
AXCELIS TECHNOLOGIES INC FY2025 Key Financial MetricsXBRL
Revenue
$839M
▼ -17.6% YoY
Net Income
$120M
▼ -40.2% YoY
Gross Margin
44.9%
▲ +25bp YoY
Operating Margin
14.2%
▼ -649bp YoY
Net Margin
14.3%
▼ -542bp YoY
ROE
11.6%
▼ -822bp YoY
Total Assets
$1.4B
▲ +0.9% YoY
EPS (Diluted)
$3.80
▼ -38.2% YoY
Operating Cash Flow
$118M
▼ -16.0% YoY
Source: XBRL data from AXCELIS TECHNOLOGIES INC FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on AXCELIS TECHNOLOGIES INC
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.