Axcelis Technologies Inc 2025年季度报告

TRANSITION REPORT PURSUANT TO SECTION13 OR15(d)OFTHESECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of 108 Cherry Hill DriveBeverly,Massachusetts01915(Address of principal executive offices, including zip code) (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act:Trading symbol Non-accelerated filer☐ PARTI-FINANCIALINFORMATIONItem 1.Financial Statements (Unaudited)Consolidated Statements of Operations for the three months ended March 31, 2025 and 2025 and 20244Consolidated Balance Sheets as of March 31, 2025 and December31, 20245 2025 and 20246Consolidated Statements of Cash Flows for the three months ended March 31, 2025 and20247 Liquidity and Capital Resources25Item 3.Quantitative and Qualitative Disclosures About Market Risk26Item 4.Controls and Procedures26 Item1.Legal ProceedingsItem1Risk Factors Item2.Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of PART1—FINANCIAL INFORMATION Axcelis Technologies,Inc.Consolidated Statements of Operations (Unaudited)Three months endedMarch 31,20252024Revenue:Product$182,824$243,418Services9,7398,954Total revenue192,563252,372Cost of revenue:Product94,500127,912Services9,2958,409Total cost of revenue103,795136,321Gross profit88,768116,051Operating expenses:Research and development27,12825,662Sales and marketing15,12417,445General and administrative17,35716,405Total operating expenses59,60959,512Income from operations29,15956,539Other income (expense):Interest income5,6015,516Interest expense(1,367)(1,346)Other, net(309)(1,710)Total other income3,9252,460Income before income taxes33,08458,999Income tax provision4,5057,404Net income$28,579$51,595Net income per share:Basic$0.89$1.58Diluted$0.88$1.57Shares used in computing net income per share:Basic weighted average shares of common stock32,25832,638 Other comprehensive income (loss):Foreign currency translation adjustmentsAmortization of actuarial net gain and other adjustments from pension plan, AdditionalCommon StockPaid-inRetainedComprehensSharesAmoun compensation expense related to RSUs and stock issued to participants under the 2020 Employee Stock Leases Finance lease assets*15,025$43,792 Current OperatingOther current liabilities$4,353$4,470FinanceCurrent portion offinance lease obligation1,3701,345Non-currentOther long-term FinanceFinance lease obligation41,95842,329Total lease liabilities$72,379$73,465*Finance lease assets are recorded net of accumulated depreciation of $47.7million and include $0.5million of prepaidfinancing costs as of March 31, 2025. Finance lease assets are recorded net of accumulated depreciation of $47.4million andinclude $0.5million of prepaid financing costs as of December 31, 2024. 10 Asia Operations Center facility in South Korea is used to manufacture our products for Asia-basedcustomers. We lease a logistics and flex manufacturing center in Beverly, Massachusetts to support ourprincipal product manufacturing operations at our corporate headquarters. Operating lease expense anddepreciation and interest expense relating to our finance lease obligation are recognized within our Lease term and discount rate Operating leasesFinance leases Operating leases5.5%Finance leases10.5% with these leases. These cash flows are included within the operating activities section of our statementof cash flows. Our cash flows from our finance lease include both an interest component and a principalcomponent. The table below shows our cash outflows by lease type and related section of our statementof cash flows, as well as the non-cash amount capitalized on our balance sheet in relation to our Three months ended March 31,Cash paid for amounts included in the measurement of lease liabilities20252024(inthousands)Operating cash outflows from operating leases$2,663$2,596Operating cash outflows from finance leases1,1561,197 Note 5. RevenueTo reflect the organization of our business operations, we divide revenue into two categories:revenue from sales of new systems and revenue arising from the sale of used systems, parts, and labor tocustomers who own systems, which we refer to as “Aftermarket.”Revenue by categories used by management are as follows:Three months ended Balance at March 31, 2025$)$39$81$)Note 9. Cash, cash equivalents and restricted cashThe following table provides a reconciliation of cash, cash equivalents and restricted cash relating to customs activity. See Note 13 for further discussion on the $5.9million cash collateralizedletter of credit. Note10.Inventories, net number of installed units, historical and anticipated product failure rates, material usage and servicelabor costs. We periodically assess the adequacy of our recorded liability and adjust the amount asnecessary.The changes in our standard product warranty liability are as follows: fair value hierarchy: Level1Level2Level3Total(inthousands)AssetsCash equivalents and other short-term investments: