BE Semiconductor Industries (BESI) Q1 2026 earnings summary

Executive summary

• Q1-26 revenue rose 28.3% year-over-year to €184.9 million, driven by high-end mobile and 2.5D AI computing applications.

• Orders surged 104.5% year-over-year to €269.7 million, with strong demand for hybrid bonding, mobile, and photonics.

• Net income increased 63.8% year-over-year to €51.6 million, with net margin improving to 27.9%.

• Significant order momentum and improved profitability reflected enhanced revenue growth and disciplined expense management.

Financial highlights

• Gross margin was 63.5%, slightly down 0.1 points year-over-year due to adverse forex effects.

• Operating income reached €63.9 million, up 62.6% year-over-year.

• EBITDA was €73.7 million, up 58.2% year-over-year.

• Net cash position increased to €103.3 million, up €67.3 million sequentially.

• Effective tax rate for Q1-26 was 12.2%.

Outlook and guidance

• Q2-26 revenue expected to increase 30%-40% sequentially from Q1-26.

• Gross margin forecasted to rise to 64%-66% in Q2-26.

• Operating expenses anticipated to be flat to up 10% versus Q1-26.

• Significant expansion of net income and profit margins expected in Q2-26.