Amtech Systems, Inc. reported a notable increase in financial performance for the third quarter of fiscal 2026, with net revenues reaching $22.4 million, a 14% rise from $19.6 million in the same period last year. For the nine months ending June 30, 2026, total revenues were $61.8 million, up 4% from $59.5 million in the prior year. The company achieved a gross profit of $11.2 million for the quarter, translating to a gross margin of 50%, compared to 47% in the previous year. This improvement was attributed to higher sales in the Thermal Processing Solutions segment, particularly driven by demand for reflow ovens and diffusion furnaces.
The company’s financial position has strengthened significantly, with cash and cash equivalents increasing to $83.1 million as of June 30, 2026, compared to $17.9 million at the end of the previous fiscal year. This increase was primarily due to net proceeds of approximately $56.5 million from a public offering of common stock completed on June 3, 2026. The offering involved the issuance of 2.9 million shares at a price of $20.50 per share, aimed at funding growth initiatives and potential acquisitions.
Operationally, Amtech's Thermal Processing Solutions segment saw a 25% increase in revenue for the quarter, totaling $17.7 million, while the Semiconductor Fabrication Solutions segment experienced a decline of 13%, generating $4.6 million. The overall backlog also improved, rising 35% to $28.7 million, with significant contributions from the Thermal Processing Solutions segment, which accounted for 90% of the total backlog. The company noted that one customer represented 28% of the backlog, highlighting a concentration risk.
Looking ahead, Amtech plans to leverage its strengthened cash position to accelerate growth in semiconductor packaging and wafer substrate fabrication. The company is focusing on expanding its product offerings in response to trends in artificial intelligence and supply chain resiliency. Additionally, Amtech is committed to pursuing both organic growth and strategic acquisitions to enhance its market presence. The management remains cautious about potential market fluctuations and geopolitical tensions that could impact demand in the semiconductor industry.
About AMTECH SYSTEMS INC
Amtech Systems, Inc. specializes in semiconductor fabrication and thermal processing solutions, providing equipment, consumables, and services for wafer fabrication and device packaging. With a focus on silicon carbide and silicon power devices, Amtech targets semiconductor manufacturers globally, particularly in Asia, North America, and Europe. The company is capitalizing on growth opportunities in electric vehicles and advanced packaging, while enhancing its product offerings through strategic acquisitions and customer-centric innovations.
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