Amtech Systems (ASYS) investor relations material

Executive summary

• Net revenue for Q3 FY2026 reached $22.4 million, up 14–14.5% year-over-year, driven by strong AI-related demand in the Thermal Processing Solutions (TPS) segment.

• Gross margin improved to 50%, up from 46.7% in the prior year, reflecting a focus on higher-margin product lines.

• GAAP net income was $1.7 million, up from $0.1 million year-over-year; non-GAAP net income was $2.4 million.

• Cash and equivalents rose to $83.1 million, bolstered by $56.5 million in net proceeds from a $60 million public offering completed in June 2026.

• Leadership transition announced: Guy Shechter appointed CEO, Bob Daigle moving to Executive Chairman effective August 13, 2026.

Financial highlights

• Adjusted EBITDA was $3.3 million, about 15% of sales.

• Customer orders totaled $28.8 million, with backlog at $28.7 million, both up sequentially.

• Operating income for the quarter was $2.2 million, up from $0.9 million in Q3 FY2025.

• Cash provided by operations was $1.1 million for the quarter.

• Working capital increased to $104.0 million, with a current ratio of 5.4:1.

Outlook and guidance

• Q4 FY2026 revenue expected between $22.5 million and $24.0 million, with adjusted EBITDA margin projected in the low to mid-teens.

• Backlog from TPS segment expected to convert primarily in Q1 and some in Q2 of fiscal 2027.

• Management expects continued growth driven by AI, supply chain resiliency, and advanced mobility trends.

• Guidance is sensitive to foreign currency fluctuations, particularly the USD/Renminbi exchange rate.

• Net operating loss (NOL) valued at $74.3 million as of September 30, 2025.