Camtek (CAMT) investor relations material

Executive summary

• Record Q3 2026 revenue was $161.3M, up 28% YoY and 21% QoQ; non-GAAP operating income was $47.5M.

• Strong AI-led advanced-packaging demand, backlog and order momentum support visibility into 2027 and an initial FY2027 revenue outlook above $800M.

Financial highlights

• Non-GAAP gross profit was $82.3M and gross margin was 51.1%, versus 51.5% in Q3 2025; higher parts and material costs weighed on margin.

• GAAP operating income was $39.8M; non-GAAP operating income was $47.5M, versus $37.6M a year earlier.

• Non-GAAP operating margin was 29.5%, versus 27.0% in Q2 and 29.9% in Q3 2025.

• Non-GAAP net income was $50.3M, or $0.99 per diluted share, versus $40.9M and $0.82 a year earlier.

• GAAP net income was $42.8M, or $0.84 per diluted share, compared with a net loss of $53.2M, or $1.16 per share, in Q3 2025.

Outlook and guidance

• Q4 2026 revenue is expected at ~$180M, up ~40% YoY; FY2026 revenue is expected at ~$595M, ~20% above 2025.

• Initial FY2027 revenue outlook is above $800M, or ~35% growth over 2026, with 2027 expected to be a record year.

• Long-term target is $1.2B annual revenue within ~3 years, substantially organic, with a 34%-36% operating margin.

• Gross margin is expected to improve gradually from Q1 2027, supported by cost actions, higher-end mix, ASP increases, software and services.