kynnyMy Thesis Axcelis (NASDAQ:ACLS) is a quality company that I believe has a moat in its niche market. It possesses several attributes I consider when researching a company, including high returns on capital, a growing total addressable market, high margins, technological advantage, and a robust balance sheet. I believe that current prices are fair, and buyers today will do well. While it is not a cheap stock, at a fair price, it could still be a good stock to own. Business & Industry Axcelis operates ...

ermingut/iStock via Getty Images The year 2023 was a year of strong gains for most semiconductor stocks, a year after incurring substantial losses in 2022. This happened even though the semiconductor industry itself contracted after years of expansion due to a downturn that has turned out to be deeper and longer lasting than expected heading into 2023. An anticipated return to growth in the industry this year helped, as did the promise of artificial intelligence or AI. However, it was the Federal Reserve th ...

The Nasdaq 100 had a banner year. After a disastrous 2022 that saw the tech-laden index lose one-third of its value, it rebounded sharply in 2023 soaring 55% to hit a new all-time high. Of course, most of those gains were because of the performance of the Magnificent 7 stocks.Since the index is market cap-weighted the relative size of the companies skewed the results. Apple (NASDAQ:AAPL) alone accounts for 9% of the Nasdaq 100 while Microsoft (NASDAQ:MSFT) represents another 8.6%. Together, the seven compan ...

Prestigious Awards Recognize Significant Contributions to National Industrial Development Through Promotion of TradeBEVERLY, Mass., Dec. 21, 2023 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of innovative, high-productivity solutions for the semiconductor industry, announced today that Axcelis Korea, its subsidiary in South Korea, and Axcelis Korea's Country Manager James Park were honored at the 2023 South Korea Trade Day event. The awards were presented by Yoon Suk Yeol, P ...

Axcelis Technologies, Inc. (NASDAQ:ACLS) Q3 2023 Earnings Conference Call November 2, 2023 8:30 AM ET Company Participants Doug Lawson - Executive Vice President, Corporate Marketing and Strategy Russell Low - President and Chief Executive Officer Jamie Coogan - Executive Vice President and Chief Financial Officer Conference Call Participants Charles Shi - Needham & Company David Duley - Steelhead Securities Craig Ellis - B. Riley Securities Mark Miller - The Benchmark Company Jed Dorsheimer - William Blair ...

Revenue Performance - Total revenue for the three months ended September 30, 2023, was $292.3 million, a 27.6% increase from $229.2 million in the same period of 2022[76] - Product revenue was $283.4 million, representing 96.9% of total revenue, up 27.9% from $221.5 million in the prior year[77] - Services revenue increased to $9.0 million, or 3.1% of total revenue, compared to $7.6 million, or 3.3% of total revenue, in the same period last year[81] - Total revenue for the nine months ended September 30, 2023, was $820.3 million, a 25.4% increase from $653.9 million in the same period of 2022[76] - The company's ten largest customers accounted for 55.1% of total revenue for the nine months ended September 30, 2023[70] Profitability Metrics - Gross profit for the three months ended September 30, 2023, was $129.7 million, a 25.5% increase from $103.3 million in the same period of 2022[86] - The gross margin for product revenue was 45.4% for the three months ended September 30, 2023, down from 46.3% in the same period of 2022[86] - Gross margin from product revenue decreased to 44.1% for the nine months ended September 30, 2023, down from 45.8% in the same period of 2022[89] - Gross margin from services revenue decreased to 10.6% for the nine months ended September 30, 2023, compared to 12.1% for the same period in 2022[89] - The company reported an income before income taxes of 25.2% for the three months ended September 30, 2023, compared to 19.6% in the same period of 2022[75] Expenses Overview - Research and development expenses increased by 28.0% to $72.0 million for the nine months ended September 30, 2023, compared to $56.3 million in the same period of 2022[94] - Sales and marketing expenses rose by 19.7% to $46.1 million for the nine months ended September 30, 2023, compared to $38.6 million in the same period of 2022[96] - General and administrative expenses increased by 17.9% to $48.5 million for the nine months ended September 30, 2023, compared to $41.2 million in the same period of 2022[98] - Total operating expenses for the nine months ended September 30, 2023, were $166.7 million, representing 20.3% of revenue, compared to $136.0 million, or 20.8% of revenue, in the same period of 2022[90] - Personnel costs accounted for 59.6% of total operating expenses for the nine months ended September 30, 2023, compared to 61.0% in the same period of 2022[91] Cash Flow and Investments - Operating cash flow for the nine months ended September 30, 2023, was $91.3 million, compared to $93.2 million for the same period in 2022[105] - Cash outflows from investing activities for the nine months ended September 30, 2023, totaled $74.2 million, including $10.5 million for capital expenditures and $271.6 million for short-term investments[106] - Cash outflows from investing activities for the nine months ended September 30, 2022, were $40.5 million, with $6.9 million for capital expenditures[106] - Financing activities for the nine months ended September 30, 2023, resulted in cash usage of $53.2 million, with $37.5 million used for stock repurchases[107] - Financing activities for the nine months ended September 30, 2022, resulted in cash usage of $53.1 million, with $45.0 million for stock repurchases[107] Financial Position - The company had $142.3 million in unrestricted cash and cash equivalents and $318.7 million in short-term investments as of September 30, 2023[104] - The company believes its existing cash and cash equivalents will be sufficient to meet anticipated cash requirements for both the short- and long-term[111] - As of September 30, 2023, a letter of credit of $5.9 million remains outstanding, securing the lease on the corporate headquarters[111] - The company terminated its Senior Secured Credit Facilities Credit Agreement on April 5, 2023, which had a revolving credit facility of up to $40.0 million[108] Other Financial Information - Other income was $2.0 million for the three months ended September 30, 2023, compared to an expense of $8.2 million in the same period of 2022, marking a $10.2 million change[100] - Income tax provision increased by 63.9% to $7.7 million for the three months ended September 30, 2023, compared to $4.7 million in the same period of 2022[101] - 94% of shipments during the first nine months of 2023 were to mature foundry/logic customers, indicating a strong demand in this segment[71] - There have been no material changes to market risk disclosures as of September 30, 2023[113] - Significant commitments and contingencies as of September 30, 2023, are consistent with previous disclosures[112]

Axcelis Technologies Inc. (NASDAQ:ACLS) Q2 2023 Earnings Call Transcript August 3, 2023 8:30 AM ET Company Participants Doug Lawson - Executive Vice President of Corporate Marketing and Strategy Russell Low - CEO, President and Director Kevin Brewer - Executive VP and CFO Conference Call Participants Ethan Widell - B. Riley Securities Jonathan Dorsheimer - William Blair Tom Diffely - D.A. Davidson Nicolas Doyle - Needham David Duley - Steelhead Securities Mark Miller - The Benchmark Company Operator Good da ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-30941 AXCELIS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 34-1818596 (State or other juris ...

Axcelis Technologies, Inc. (NASDAQ:ACLS) Q1 2023 Results Conference Call May 4, 2023 8:30 AM ET Company Participants Mary Puma - President and Chief Executive Officer Kevin Brewer - Executive Vice President and Chief Financial Officer Russell Low - Executive Vice President of Global Customer and Engineering Operation Doug Lawson - Executive Vice President of Corporate Marketing and Strategy Conference Call Participants Thomas Diffely - DA Davidson Craig Ellis - B. Riley Securities Christian Schwab - Craig-H ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-30941 AXCELIS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 34-1818596 (State or other juri ...