Every material Form 8-K Axcelis Technologies has filed with the SEC since May 01, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Axcelis reported third-quarter 2026 revenue of $237.8 million, up from $213.6 million a year earlier, and GAAP diluted earnings per share of $1.21, up from $0.83. The company guided fourth-quarter 2026 revenue to approximately $275 million and GAAP diluted EPS to approximately $1.15, with non-GAAP EPS of approximately $1.50.
Q3 2026 net income was $37.8 million vs. $26.0 million in Q3 2025; GAAP gross margin was 41.0% vs. 41.6%.
Non-GAAP diluted EPS was $1.26 vs. $1.21 a year earlier.
Fourth-quarter 2026 outlook: revenue of approximately $275 million, GAAP diluted EPS of approximately $1.15, non-GAAP EPS of approximately $1.50.
Results include $5.0 million of transaction and integration costs tied to the Veeco Instruments merger agreement announced October 1, 2025.
Axcelis and Veeco said the previously announced all-stock merger is now expected to close by the end of the first quarter of 2027, subject to closing conditions. The timing depends on pending Chinese regulatory approval from SAMR and a new HSR Act filing after the current antitrust clearance expires, and the companies gave no assurance the closing will occur on that timeline. Veeco shareholders would receive 0.3575 Axcelis shares for each Veeco share at closing.
Expected closing: by the end of the first quarter of 2027, with no assurance of that timing
Pending approval from China's State Administration for Market Regulation (SAMR) is a closing condition
Current HSR Act clearance is set to expire; the parties plan to promptly make a new submission
Each Veeco common share converts into 0.3575 Axcelis shares at closing
Axcelis Technologies appointed Jeroen Delsman, formerly a Vice President at Ferrotec USA, as Executive Vice President and Chief Financial Officer effective November 12, 2026, succeeding interim CFO David Ryzhik, who will move to Senior Vice President of Corporate Development and Investor Relations. The filing details a $500,000 base salary and sign-on awards, and notes the appointment is tied to the pending merger with Veeco.
Jeroen Delsman appointed EVP and CFO by the Board on October 24, 2026, effective November 12, 2026
Base salary of $500,000, with a 75% target under the Axcelis Team Incentive plan starting in 2027
Sign-on RSU award with grant date value of $1,200,000, plus a $352,000 sign-on cash bonus and an $80,000 relocation bonus
David Ryzhik moves from interim CFO to Senior Vice President, Corporate Development and Investor Relations, reporting to CEO Russell Low
Axcelis reported second-quarter 2026 revenue of $215.2 million, up from $194.5 million a year earlier, but GAAP net income fell to $23.3 million from $31.4 million and GAAP diluted EPS fell to $0.75 from $0.98. For the third quarter, the company expects revenue of about $230 million and GAAP diluted EPS of about $0.76, and it now expects year-over-year revenue growth in 2026.
Q2 2026 revenue was $215.2 million versus $194.5 million in Q2 2025; GAAP operating margin was 9.4% versus 14.9%.
Non-GAAP diluted EPS was $1.06 versus $1.13 a year earlier; GAAP diluted EPS was $0.75 versus $0.98.
Q3 2026 outlook: revenue of about $230 million, GAAP diluted EPS of about $0.76, and non-GAAP EPS of about $1.11.
Transaction and integration costs related to the pending Veeco merger were $4.8 million in Q2 2026, and the company expects the merger to close in the second half of 2026.
Axcelis reported first-quarter 2026 revenue of $199.0 million, up from $192.6 million a year earlier, while GAAP diluted earnings per share fell to $0.30 from $0.88. The company guided second-quarter revenue to about $205 million and GAAP diluted EPS to about $0.57, and said 2026 revenue is expected to be relatively flat versus 2025.
Q1 2026 revenue was $199.0 million versus $192.6 million in Q1 2025; GAAP gross margin was 40.5% versus 46.1%.
GAAP diluted EPS was $0.30 versus $0.88; non-GAAP diluted EPS was $0.72 versus $1.06.
Q2 2026 outlook: revenue of about $205 million, GAAP diluted EPS of about $0.57, non-GAAP EPS of about $0.90.
The company expects to complete its merger with Veeco in the second half of 2026; Q1 transaction and integration costs were $10.4 million.
Axcelis Technologies said Chief Financial Officer James Coogan will leave effective April 24, 2026, and the board named David Ryzhik, its Senior Vice President of Investor Relations and Corporate Strategy, as interim CFO effective March 12, 2026. The company said it will search for a permanent CFO with an executive search firm, and the filing says Coogan's departure did not result from any disagreement over financial statements, operations, policies, or practices.
James Coogan notified the company on March 10, 2026 of his intent to resign as CFO, effective April 24, 2026
David Ryzhik, 46, appointed interim CFO effective March 12, 2026, with a monthly base salary increase of $8,750
Ryzhik's compensation includes a monthly bonus opportunity increase of $27,242 and RSUs with a grant date fair value of $400,000
CEO Russell Low cited Ryzhik's role in the pending merger with Veeco
Axcelis Technologies reported fourth-quarter 2025 revenue of $238.3 million, down from $252.4 million a year earlier, and diluted EPS of $1.10 versus $1.54. For the full year, revenue was $839.0 million compared with $1.02 billion in 2024, and diluted EPS was $3.80 versus $6.15. The company expects first-quarter 2026 revenue of approximately $195 million and says it continues working toward closing its pending merger with Veeco Instruments.
Q4 2025 net income was $34.3 million, versus $50.0 million in Q4 2024; GAAP diluted EPS was $1.10, versus $1.54.
Full-year 2025 revenue was $839.0 million, versus $1.02 billion in 2024; full-year GAAP diluted EPS was $3.80, versus $6.15.
Q1 2026 outlook: revenue of approximately $195 million, GAAP diluted EPS of approximately $0.38, and non-GAAP EPS of approximately $0.71.
Q4 2025 included $7.5 million of transaction and integration costs tied to the Veeco merger agreement announced October 1, 2025.
Axcelis Technologies reported third-quarter 2025 results on November 4, 2025, with revenue of $213.6 million, down from $256.6 million a year earlier, and GAAP diluted earnings per share of $0.83, down from $1.49. The company expects fourth-quarter revenue of about $215 million and GAAP diluted EPS of about $0.76, and it said the results include $8.3 million in transaction and integration costs tied to its pending merger with Veeco Instruments.
Q3 revenue $213.6 million vs. $256.6 million in Q3 2024; net income $26.0 million vs. $48.6 million
GAAP diluted EPS $0.83 vs. $1.49; non-GAAP diluted EPS $1.21 vs. $1.72
Q4 2025 outlook: revenue of about $215 million, GAAP diluted EPS of about $0.76, non-GAAP EPS of about $1.12
Over $590 million in cash and investments; Veeco merger announced October 1, 2025
Axcelis Technologies signed a merger agreement on September 30, 2025, to combine with Veeco Instruments in an all-stock deal. Veeco shareholders will receive 0.3575 Axcelis shares per Veeco share, and Axcelis holders are expected to own about 58% of the combined company. The deal is expected to close in the second half of 2026, subject to shareholder and regulatory approvals.
Exchange ratio: 0.3575 Axcelis shares for each Veeco share; combined enterprise value about $4.4 billion
Ownership split: about 58% Axcelis shareholders and 42% Veeco shareholders, fully diluted
Expected cost synergies of $35 million annually within 24 months; Veeco's $230 million 2029 convertible bonds will be assumed
Expected close in the second half of 2026; requires approval by both companies' shareholders and regulators, including China's SAMR
Axcelis reported second-quarter 2025 revenue of $194.5 million, down from $256.5 million a year earlier, and GAAP diluted earnings per share of $0.98, down from $1.55. The company expects third-quarter revenue of about $200 million and GAAP diluted EPS of about $0.87, and it raised share repurchases to $45 million in the quarter, which shareholders may weigh against the lower year-over-year profit.
Q2 2025 revenue $194.5 million vs. $256.5 million in Q2 2024
Q2 2025 GAAP net income $31.4 million vs. $50.9 million; GAAP diluted EPS $0.98 vs. $1.55
Q3 2025 outlook: revenue of approximately $200 million, GAAP diluted EPS of approximately $0.87, non-GAAP EPS of approximately $1.00
Share repurchases increased to $45 million during the quarter
At its May 7, 2025 annual meeting, Axcelis stockholders approved adding 3,000,000 shares to the reserve under the 2012 Equity Incentive Plan and elected all eight director nominees. On May 8, the board named Jorge Titinger as Non-Executive Chairperson and set committee assignments, which matter to shareholders because they change the company's equity pool and board leadership.
Equity plan amendment: 3,000,000 additional shares reserved; 22,500,255 votes for, 3,019,530 against, and 116,775 abstentions.
All eight director nominees elected, including Tzu-Yin Chiu, Gregory B. Graves and Jorge Titinger.
Jorge Titinger elected Non-Executive Chairperson of the board on May 8, 2025.
Ernst & Young LLP ratified as auditor for the year ending December 31, 2025, with 26,836,305 votes for.
Axcelis reported first-quarter 2025 revenue of $192.6 million, down from $252.4 million a year earlier, and GAAP diluted earnings per share of $0.88, down from $1.57. It also guided to second-quarter revenue of approximately $185 million and GAAP diluted EPS of approximately $0.57, so shareholders face lower reported sales and profit in both periods.
Q1 2025 revenue was $192.6 million vs. $252.4 million in Q1 2024
Q1 2025 net income was $28.6 million vs. $51.6 million; GAAP diluted EPS $0.88 vs. $1.57
Non-GAAP diluted EPS was $1.04 vs. $1.68 a year earlier
Q2 2025 outlook: revenue of approximately $185 million, GAAP diluted EPS of approximately $0.57, non-GAAP EPS of approximately $0.73
Axcelis reported fourth-quarter 2024 revenue of $252.4 million and diluted EPS of $1.54, and full-year 2024 revenue of $1.02 billion, down from $1.13 billion in 2023. It guided first-quarter 2025 revenue to approximately $185 million and diluted EPS to approximately $0.38, well below fourth-quarter levels. Full-year diluted EPS fell to $6.15 from $7.43, and the company cited a near-term cyclical digestion period among its customers.
Q4 2024 revenue was $252.4 million, down from $310.3 million in Q4 2023 and $256.6 million in Q3 2024
Q4 2024 diluted EPS was $1.54, up from $1.49 in Q3 2024 but down from $2.15 in Q4 2023
Full-year 2024 revenue was $1.02 billion vs. $1.13 billion in 2023; diluted EPS was $6.15 vs. $7.43
Q1 2025 outlook: revenue of approximately $185 million and diluted EPS of approximately $0.38
Axcelis reported third-quarter 2024 revenue of $256.6 million and diluted earnings per share of $1.49, down from $1.99 a year earlier and $1.55 in the second quarter. The company guided fourth-quarter revenue to about $245 million and EPS to about $1.25, both below third-quarter results, and disclosed that it found an error that overstated historical backlog from 2019 through the second quarter of 2024.
Q3 2024 revenue of $256.6 million, roughly flat with $256.5 million in Q2 2024 and down from $292.3 million in Q3 2023
Q3 net income of $48.6 million, or $1.49 per diluted share, versus $65.9 million, or $1.99 per diluted share, in Q3 2023
Fourth-quarter 2024 outlook: revenue of approximately $245 million and EPS of approximately $1.25
Corrected backlog as of June 30, 2024 was $879 million, versus $994 million previously reported; backlog as of September 30, 2024 was $758 million
Axcelis reported second quarter 2024 revenue of $256.5 million, up from $252.4 million in the first quarter, and net income of $50.9 million, or $1.55 per diluted share, down from $1.57 in the first quarter. For the third quarter, the company expects revenue of approximately $255 million and diluted EPS of approximately $1.43, both below second quarter results. Second quarter revenue was also below the $274.0 million reported a year earlier, and diluted EPS was down from $1.86.
Q2 2024 revenue of $256.5 million, compared with $252.4 million in Q1 2024 and $274.0 million in Q2 2023
Operating profit of $52.8 million, compared with $56.5 million in Q1 2024 and $63.7 million in Q2 2023
Q3 2024 outlook: revenue of approximately $255 million and diluted EPS of approximately $1.43
Company says Q2 revenue, operating margin and EPS exceeded its guidance for the period
Axcelis said preliminary second-quarter 2024 revenue is greater than $252 million and diluted earnings per share is greater than $1.38, above its previously issued guidance of $245 million and $1.30. The company also said it expects second-half performance to be stronger than the first half, slightly weighted toward the fourth quarter. Final results are due July 31, 2024, and the figures remain subject to revision.
Preliminary Q2 2024 revenue greater than $252 million, versus prior guidance of $245 million
Preliminary diluted EPS greater than $1.38, versus prior guidance of $1.30
Final second-quarter results to be reported July 31, 2024, before the Form 10-Q filing
2024 Investor Event scheduled for July 11, 2024, in San Francisco
At its May 9, 2024 annual meeting, Axcelis stockholders re-elected the board, approved an amendment to the charter on officer liability, ratified Ernst & Young as auditor, and passed an advisory vote on executive pay. Mary G. Puma resigned as Executive Chairperson effective at the meeting and will continue as an Executive Advisor, and the board named Jorge Titinger Non-Executive Chairperson.
Mary G. Puma resigned as Executive Chairperson effective at the May 9, 2024 annual meeting and will continue as Executive Advisor under her February 24, 2023 employment agreement.
Jorge Titinger was elected Non-Executive Chairperson of the Board on May 9, 2024, and chairs the Compensation Committee.
All nine director nominees were elected, and the charter amendment limiting officer liability under Delaware law was approved, with 23,098,183 votes for.
The advisory say-on-pay proposal passed with 93.82% of votes cast in favor.
Axcelis reported first quarter 2024 revenue of $252.4 million, down from $310.3 million in the fourth quarter of 2023 but up slightly from $254.0 million a year earlier, and net income of $51.6 million, or $1.57 per diluted share. The company said revenue, gross margin and EPS finished above its guidance for the quarter, but it forecast second quarter revenue of about $245 million and EPS of around $1.30, both below first quarter levels.
Q1 2024 revenue was $252.4 million versus $310.3 million in Q4 2023; gross margin was 46% versus 44.4%.
Net income was $51.6 million, or $1.57 per diluted share, compared with $2.15 in Q4 2023 and $1.43 in Q1 2023.
Q2 2024 outlook: revenue of about $245 million, gross margin of about 43.5%, operating profit of about $47 million and EPS of around $1.30.
Management will discuss the results on a conference call on May 2, 2024, at 8:30 a.m. ET.
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