Financial Data and Key Metrics - Revenue for Q1 2024 was $24.9 million, exceeding the high end of guidance and marking a 16% increase from Q1 2023 [6][13] - Adjusted EBITDA improved to $0.2 million, a significant turnaround from a $2.4 million loss in the prior quarter [6] - GAAP net loss for Q1 2024 was $9.4 million ($0.66 per share), compared to a $12 million loss ($0.85 per share) in Q4 2023 and a $2.7 million loss ($0.20 per share) in Q1 2023 [17] - Unrestricted cash and cash equivalents increased by $4 million to $17 million during the quarter [18] Business Segment Performance - Revenue decreased 10% sequentially due to lower equipment shipments across business segments, driven by softness in the semiconductor market [13] - Belt furnace shipments and the addition of Entrepix contributed to the year-over-year revenue increase, partially offset by lower reflow equipment shipments [13] - The Material & Substrates segment recorded a non-cash impairment charge of $7.6 million, with $0.8 million impacting gross profit [15] Market Performance - Semiconductor market demand remains mixed, with softness in wafer fabrication and back-end packaging equipment, but resilience in submarkets related to hybrid and electric vehicles [7] - Demand for consumables used in silicon carbide semiconductor production is improving, with strong demand for high-end belt furnaces and diffusion furnaces [8] Strategic Direction and Industry Competition - The company is focused on operational optimization, achieving $6 million in annualized cost savings through restructuring and strategic contract manufacturing partnerships [6][9] - Plans to relocate a US manufacturing facility to a smaller, more cost-effective site in Q3 2024 to reduce fixed expenses while maintaining production capabilities [10] - Pricing strategy adjustments are being implemented to align with rising input costs, with promising progress in new tool quotations [10] Management Commentary on Operating Environment and Outlook - Management expects Q2 2024 revenue to range between $22 million and $25 million, with EBITDA nominally negative to neutral [20] - Long-term growth is anticipated in AI-related infrastructure and global supply chain diversification, driving demand for back-end equipment and silicon carbide wafer production [12] - The company remains confident in the future prospects of its consumables and equipment businesses, particularly in advanced mobility and packaging applications [20] Other Important Information - SG&A expenses decreased by $2.5 million sequentially and $0.6 million year-over-year, driven by lower acquisition expenses, consulting fees, and intangible amortization [16] - Research, development, and engineering expenses decreased by $1 million sequentially due to reduced investment in next-generation polishing tools [16] - Debt restructuring in December 2023 increased the revolver capacity to $14 million, with $5.6 million transferred from the term loan [18] Q&A Session Summary Question: Backlog and Pipeline Outlook - The backlog is strong, particularly in power semiconductor packaging and silicon carbide wafer production, with expectations of increased activity in silicon carbide manufacturing capital equipment over the next 1-2 years [24][26] - A recovery in the back-end and advanced packaging segments is anticipated as the industry digests existing capacity [27] Question: Cost Savings and Demand Response - The $6 million in annualized cost savings will be fully realized by Q2 2024, with $4 million impacting the current quarter and the remaining $2 million lagging slightly [29] - Restructuring efforts, including strategic contract manufacturing partnerships, are designed to maintain scalability and readiness for market rebound without compromising growth [30] Question: Working Capital and Balance Sheet Adjustments - The company expects working capital to fluctuate as it executes its $50 million backlog and relocates a manufacturing facility, with continued focus on optimizing working capital and leveraging partner buying power [32] Question: Financial Covenants and Pricing Strategy - The company is in compliance with revised financial covenants, exceeding the required EBITDA threshold [36] - Pricing strategy adjustments have been well-received, with updated pricing models expected to improve margins as the backlog is replenished [38]

Amtech Systems (ASYS) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to loss of $0.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 66.67%. A quarter ago, it was expected that this provider of equipment for solar panel and semiconductor makers would post earnings of $0.09 per share when it actually produced a loss of $0.18, delivering a surprise of -300 ...

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: December 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: 0-11412 AMTECH SYSTEMS, INC. (Exact name of registrant as specified in its charter) | Arizona ...

Financial Performance - Net revenue for Q1 FY2024 was $24.9 million, a 10% sequential decrease but a 16% increase compared to Q1 FY2023 [2][5] - GAAP operating loss was $8.9 million, including $7.6 million in non-cash impairment charges due to market value decline [2][6] - Non-GAAP operating loss improved to $0.2 million, compared to $3.0 million in Q4 FY2023 and $0.7 million in Q1 FY2023 [2][8] - GAAP net loss was $9.4 million ($0.66 per share), while Non-GAAP net loss was $0.6 million ($0.04 per share) [2][8] Operational Highlights - Customer orders totaled $23.1 million with a book-to-bill ratio of 0.9:1 [2] - Backlog stood at $50.0 million at the end of Q1 FY2024 [2] - Achieved $6 million in annualized cost savings through operational optimization [3] - Unrestricted cash and cash equivalents increased to $17.0 million from $13.1 million in the previous quarter [9] Segment Performance - Semiconductor segment revenue was $17.5 million with GAAP gross margin of 35% [17] - Material and Substrate segment revenue was $7.4 million with GAAP gross margin of 28% [17] - Semiconductor segment backlog was $44.8 million, while Material and Substrate segment backlog was $5.1 million [17] Market and Industry Context - Revenue decrease attributed to softness in the semiconductor market, particularly in equipment shipments [5] - Increase from prior year driven by higher belt furnace shipments and Entrepix acquisition [5] - Company expects Q2 FY2024 revenue between $22-25 million with EBITDA ranging from nominally negative to neutral [11] Strategic Initiatives - Focused on operational optimization and cost structure improvement [3] - Implementing strategic actions to enhance operational efficiency and shareholder value [3] - Aligning product pricing with value to improve profitability through market cycles [12]

TEMPE, Ariz.--(BUSINESS WIRE)--Amtech Systems, Inc. ("Amtech") (NASDAQ: ASYS), a manufacturer of thermal processing, wafer cleaning and chemical mechanical polishing (CMP) capital equipment and related consumables used in semiconductor, advanced mobility and renewable energy manufacturing applications, will announce its first quarter 2024 financial results for the period ended December 31, 2023, on Friday, February 9, 2024, after market close. The company will host a conference call to discuss these result ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: September 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: 0-11412 AMTECH SYSTEMS, INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | --- | --- | |----------------- ...

Amtech Systems, Inc. (NASDAQ:ASYS) Q4 2023 Earnings Conference Call December 13, 2023 5:00 PM ET Company Participants Michael Funari - Sapphire Investor Relations Bob Daigle - Chairman and Chief Executive Officer Lisa Gibbs - Chief Financial Officer Conference Call Participants Mark Miller - Benchmark Operator Good day, and welcome to the Amtech Systems Business Update Conference Call. Please note that this event is being recorded. I would now like to turn the call over to Michael Funari of Sapphire [Invest ...

Amtech Systems, Inc. (NASDAQ:ASYS) Q3 2023 Earnings Conference Call August 9, 2023 5:00 PM ET Company Participants Erica Mannion - Sapphire, Investor Relations Bob Daigle - Chairman & Chief Executive Officer Paul Lancaster - Vice President, Sales & Customer Service Lisa Gibbs - Chief Financial Officer Conference Call Participants Mark Miller - Benchmark Kevin Garrigan - Westpark Capital Operator Good day and welcome to the Amtech Systems Third Quarter Fiscal 2023 Earnings Conference Call. Please note that t ...

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: 0-11412 AMTECH SYSTEMS, INC. (Exact name of registrant as specified in its charter) | --- | --- | ...

Amtech Systems, Inc. (NASDAQ:ASYS) Q2 2023 Earnings Conference Call May 10, 2023 5:00 PM ET Company Participants Erica Mannion - Investor Relations, Sapphire Michael Whang - Chief Executive Officer Paul Lancaster - Vice President, Sales & Customer Service Lisa Gibbs - Chief Financial Officer Conference Call Participants Mark Miller - The Benchmark Company Operator Good day and welcome to the Amtech Systems Fiscal Second Quarter 2023 Earnings Conference Call. Please note that this event is being recorded. I ...