#Israel #Camtek #Advanced Packaging #Migdal Haemek #Semiconductor

Camtek's Record-Breaking First Quarter Financials for 2025

Camtek Ltd., a prominent player in the semiconductor equipment sector, has announced impressive financial results for the first quarter ending March 31, 2025. The company achieved record revenues of $118.6 million, reflecting a remarkable 22% year-over-year increase. This notable performance included a GAAP gross margin of 51%, emphasizing strong profitability across various segments.

In comparison to the same quarter last year, Camtek's gross profit soared to $60.6 million, a substantial jump from $44.8 million recorded in the first quarter of 2024. This strong performance translates into a GAAP operating income of $32.7 million, marking a 54% increase from $21.2 million in 2024.

Forward-Looking Expectations

Management remains optimistic about continued growth, projecting revenues for Q2 2025 to fall within the range of $120-123 million. This indicates a robust potential growth rate of 17-20% year-over-year.

Rafi Amit, Camtek's CEO, noted, "We commenced 2025 on a high note with record revenues and significantly enhanced profitability. The primary engine of our growth moving forward is advanced packaging technology, particularly aimed at high-performance computing (HPC) for AI applications. Our focus now includes pivotal transitions from HBM3e to HBM4 devices and upcoming next-generation packaging solutions."

In addition, Camtek has successfully launched two advanced models, the Eagle G5 and the Hawk, which cater to the latest packaging technologies. Customer feedback has been overwhelmingly positive, attributing high regard to the systems' performance and adaptability.

Financial Highlights

• - Q1 2025 Revenues: $118.6 million
• - Year-on-Year Growth: 22%
• - GAAP Operating Margin: 27.6%
• - GAAP Net Income: $34.3 million (38% growth YoY)
• - Diluted EPS: $0.70, representing an increase from $0.50 in Q1 2024

For context, the total cash and cash equivalents, along with marketable securities, reached $522.6 million by March 31, 2025, up from $501.2 million as of December 31, 2024. Throughout the quarter, Camtek generated an operating cash flow of approximately $23.6 million.

Geopolitical Landscape and Operational Resilience

Despite concerns regarding geopolitical uncertainties and tariffs, the company has not recorded significant negative impacts on its operations. With manufacturing sites in Israel and Europe, and a customer base primarily located in Asia, Camtek's exposure to potential tariffs is regarded as minimal.

Upcoming Communication and Engagement

As part of their commitment to transparency, Camtek will host a video conference call/webinar today, allowing stakeholders to engage directly with executives, including the CEO, CFO, and COO, who will present the company's financial results followed by a Q&A session. Those interested in attending can register via the provided Zoom link.

Camtek continues to offer high-end inspection and metrology solutions to the semiconductor sector, catering to a variety of cutting-edge applications. The future appears promising, driven by innovative technologies and an unwavering focus on customer satisfaction.

About Camtek Ltd.
Camtek Ltd. is a leading company in developing high-precision equipment designed for the semiconductor industry, specializing in inspection systems that optimize production processes. With a global presence and a commitment to technological advancement, Camtek aims to maintain its leadership in a rapidly evolving market.