Camtek Achieves $121.7M Q1 Revenue, Secures $260M+ Orders from HBM Manufacturers
Camtek reported Q1 revenue of $121.7 million, beating guidance, with net income of $35.3 million. The company secured over $260 million in orders from two HBM manufacturers and launched Eagle and Hawk systems expected to double 2026 revenue, though operating margin fell to 25.5% on rising expenses.
1. Q1 Financial Results
Camtek reported first-quarter revenue of $121.7 million, a slight beat of guidance, and net income of $35.3 million, down from $38.7 million a year earlier.
2. Record Orders & Outlook
The company secured over $260 million in orders from two high-bandwidth memory manufacturers, laying the groundwork for strong revenue in 2026 and 2027.
3. Product Innovation & AI Acquisition
Camtek introduced Eagle and Hawk inspection systems, expected to double system revenue in 2026, and completed the acquisition of Visual Layer to integrate AI-based annotation and classification capabilities.
4. Margins, Expenses & Cash Generation
Operating expenses climbed to $30.9 million, driving operating margin down to 25.5% from 31.5%, while accounts receivable rose to $131.7 million, limiting cash generation.