Axcelis Reports Q3 2025 Results and Highlights Merger with Veeco Instruments

Nov 4, 2025
Axcelis Technologies reported Q3 2025 revenue of $213.6 million with GAAP earnings per share of $0.83. The company also noted progress on its merger with Veeco Instruments, citing strong cash flow and a solid balance sheet.

Axcelis Technologies reported third-quarter 2025 financial results with revenue of $213.6 million, a GAAP gross margin of 41.6%, and a GAAP operating margin of 11.7%, announced in a press release. The company recorded GAAP diluted earnings per share of $0.83 and non-GAAP diluted earnings per share of $1.21.

Axcelis said it achieved record revenue in its Customer Support and Innovation (CS&I) segment, supported by aftermarket growth and an expanding installed base. The company emphasized disciplined cost control and strong free cash flow generation, ending the quarter with more than $590 million in cash and investments.

President and CEO Russell Low noted that Axcelis is executing its product development and customer engagement plans while navigating a cyclical period in the semiconductor market. He also referenced the company’s merger with Veeco Instruments, describing it as a key step toward building a leading semiconductor equipment company positioned to benefit from trends in AI and electrification.

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