Axcelis Technologies, Inc. (NASDAQ: ACLS) has released its financial results for the second quarter ending June 30, 2025, showing a revenue of $194.5 million, down from $256.5 million in the same period last year. The GAAP gross margin increased to 44.9% from 43.8% in the previous year, while the non-GAAP gross margin increased to 45.2% from 44.3%. GAAP operating margin decreased to 14.9% from 20.6%, and non-GAAP operating margin decreased to 17.7% from 23.3%.
The net income for the quarter was $31.4 million, a decrease from $50.9 million in the same period last year. The diluted earnings per share on a GAAP basis were $0.98, down from $1.55, while on a non-GAAP basis, they were $1.13, down from $1.73.
Looking ahead, Axcelis expects revenues of approximately $200 million for the third quarter ending September 30, 2025, with GAAP earnings per diluted share of approximately $0.87 and non-GAAP earnings per share of approximately $1.00.
The company also highlighted its strong profitability and cash flow generation in the second quarter, with disciplined cost control and favorable mix contributing to these results. Axcelis increased its share repurchase activity to $45 million during the quarter.
The press release also emphasized the use of non-GAAP financial measures, including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP income tax provision, adjusted EBITDA, non-GAAP net income, and non-GAAP diluted earnings per share, and provided reconciliations of these measures to the most directly comparable financial measures calculated and presented in accordance with GAAP. As a result of these announcements, the company's shares have moved 3.1% on the market, and are now trading at a price of $70.88. For more information, read the company's full 8-K submission here.
