#Israel #AI Technologies #Migdal Haemek #Semiconductor #Camtek Ltd.

Camtek Ltd. Announces Extraordinary Financial Performance for 2024

Camtek Ltd. has made headlines with its remarkable financial achievements for the fourth quarter and the entire year of 2024. With a whirlwind of growth, the company’s earnings reports reveal staggering increases in revenue and profits, setting a new benchmark for future growth. This success story highlights Camtek's commitment to innovation in the semiconductor industry, emphasizing its significant investments in advanced technologies and AI applications.

Financial Highlights of Q4 2024

In the fourth quarter of 2024, Camtek reported record revenues of $117.3 million, representing a notable 32% increase year-over-year. This upward trend was propelled by strong market demand and an enhanced product portfolio. The company achieved a GAAP operating income of $31.3 million, which marks an impressive 82% year-over-year increase. Meanwhile, the non-GAAP operating income saw a robust growth of 42%, totaling $36.3 million.

The net income also witnessed substantial growth, with GAAP figures soaring to $33.0 million and non-GAAP figures reaching $37.7 million, signifying increases of 59% and 34% respectively. Notably, the diluted earnings per share climbed to $0.67 on a GAAP basis and $0.77 on a non-GAAP basis, reflecting the company's solid financial foundation.

Full-Year Performance Overview

The full-year results were equally impressive. Camtek posted total revenues of $429.2 million in 2024, representing a 36% increase from the prior year. Gross profits surged to $209.9 million, yielding a gross margin of 48.9%, an increase compared to last year's 46.8%.

Operating income on a GAAP basis totaled $108.1 million, up 65% year-over-year, while the non-GAAP operating income reached $130.3 million, a 56% increase. Net income stood at $118.5 million, translating to $2.42 per diluted share on a GAAP basis and $2.83 on a non-GAAP basis. The company’s strong cash position was reflected in its operational cash flow of $122.2 million, leading to a year-end total of $501.2 million in cash and marketable securities.

Forward-Looking Expectations

CEO Rafi Amit is optimistic about Camtek's future growth trajectory, projecting revenues for the first quarter of 2025 to be between $118 million to $120 million, which would represent an approximate 23% increase compared to the first quarter of 2024. Amit emphasized that the strong backlog of orders and the upcoming launch of innovative product lines such as the Eagle G5 and Hawk systems will bolster the company’s competitive position in the semiconductor sector.

He stated, “The growing demand for AI has positioned Camtek as a leader and facilitated our significant growth in 2024.” Camtek’s strategic focus on high-performance computing (HPC) hardware aligns with the rising market needs for AI integration across various industries, suggesting that the company is well-positioned to leverage this trend.

Conclusion

The financial results for Camtek Ltd. in 2024 illustrate a robust growth story supported by strategic innovation and market responsiveness. As the semiconductor industry continues to evolve, Camtek's commitment to delivering high-end inspection and metrology solutions positions it as a key player in this competitive landscape. With its promising outlook for 2025, stakeholders are keenly watching the company's progress as it adapts to the demands of an increasingly tech-driven world.