AMTECH SYSTEMS INC SEC 10-Q Report

Amtech Systems Inc., a leading provider of thermal processing and semiconductor fabrication solutions, has released its Form 10-Q report for the first quarter of 2025. The report highlights a challenging period for the company, marked by significant declines in revenue and profitability, as well as operational hurdles across its business segments.

Financial Highlights

• Revenues, net: $15.6 million, a decrease of approximately $9.9 million or 39% compared to the same period last year due to lower sales in both segments.
• Gross (loss) profit: $(0.3) million, representing a negative 2% of net revenue, a decrease from $8.5 million or 33% of net revenue in the prior year period, primarily due to lower revenue and higher inventory write-downs.
• Operating (loss) income: $(31.6) million, compared to $1.4 million in the prior year period, impacted by goodwill and intangible asset impairments.
• Net (loss) income: $(31.8) million, compared to $0.97 million in the prior year period, reflecting significant impairments and lower sales.
• Net (loss) income per basic share: $(2.23), compared to $0.07 in the prior year period, reflecting the net loss incurred.

Business Highlights

• Revenue Segments: The Thermal Processing Solutions segment experienced a 39% decrease in revenue for the three months ended March 31, 2025, primarily due to lower sales of diffusion and high-temperature furnaces and a shipping delay of a $4.9 million order. The Semiconductor Fabrication Solutions segment saw a 37% decrease in revenue, mainly due to lower sales of wafer cleaning equipment.
• Geographical Performance: The company's revenue distribution shifted, with the Americas accounting for 32% of total sales, down from 45% in the previous year. Asia's contribution increased to 50% from 39%, driven by significant sales in Taiwan, which rose to 27% from 4%. Europe remained relatively stable, contributing 18% of total sales.
• Sales Units: The company reported a decrease in sales units across both segments, with a notable decline in the Semiconductor Fabrication Solutions segment due to reduced demand for wafer cleaning equipment.
• New Product Launches: The company introduced its next-generation reflow platform, Aurora, in 2023, which is expected to enhance its product offerings in the Thermal Processing Solutions segment.
• Future Outlook: The company anticipates continued challenges due to prolonged weakness in the mature node semiconductor market, high inventory levels, and geopolitical tensions. However, it remains focused on growth opportunities in AI, supply chain resiliency, and advanced mobility markets.

SEC Filing: AMTECH SYSTEMS INC [ ASYS ] - 10-Q - May. 12, 2025