Axcelis Technologies, Inc. reported a total revenue of $215.2 million for the three months ended June 30, 2026, marking a 10.6% increase from $194.5 million in the same period of 2025. For the first half of 2026, revenue reached $414.1 million, up 7.0% from $387.1 million year-over-year. The growth was primarily driven by a significant increase in Aftermarket sales, which rose to $82.8 million in the second quarter, compared to $61.3 million in the prior year. However, product revenue from systems sales saw a slight decline, totaling $132.4 million in Q2 2026, down from $133.2 million in Q2 2025.
Despite the revenue growth, Axcelis experienced a decrease in net income, which fell to $23.3 million for the second quarter of 2026, down from $31.4 million in the same quarter of 2025. This decline was attributed to increased operating expenses, which rose by 21.5% to $70.9 million in Q2 2026, compared to $58.4 million in Q2 2025. The increase in operating expenses was driven by higher costs in research and development, sales and marketing, and general and administrative functions, reflecting the company's ongoing investments in growth and operational efficiency.
In terms of strategic developments, Axcelis is in the process of completing a merger with Veeco Instruments Inc., which was announced on September 30, 2025. The merger is expected to close in the second half of 2026, pending regulatory approvals. This strategic move aims to enhance Axcelis's market position and expand its product offerings in the semiconductor equipment sector. The company has also been focusing on increasing its research and development efforts, with R&D expenses rising to $29.0 million in Q2 2026, up 7.1% from the previous year.
Operationally, Axcelis reported a total of 30,881 shares outstanding as of June 30, 2026, with cash and cash equivalents amounting to $155.0 million. The company also noted a significant increase in contract liabilities, which rose to $118.5 million, indicating a strong backlog of orders. The geographic distribution of revenue showed a notable increase in the Asia Pacific region, which accounted for $177.9 million in Q2 2026, compared to $145.6 million in Q2 2025, highlighting the company's expanding footprint in key markets.
Looking ahead, Axcelis remains optimistic about its growth trajectory, supported by a strong cash position and ongoing investments in technology and product development. The company anticipates that the completion of the merger with Veeco will further strengthen its competitive edge in the semiconductor industry, enabling it to better meet customer demands and capitalize on emerging market opportunities.
About AXCELIS TECHNOLOGIES INC
Axcelis Technologies, Inc. designs, manufactures, and services ion implantation and semiconductor processing equipment used in chip fabrication. Its core product line, the Purion family, serves leading global semiconductor manufacturers, focusing on high precision, productivity, and process control. Axcelis supports customers with aftermarket services including upgrades, spare parts, and training. The company operates a direct sales model targeting semiconductor fabs worldwide, emphasizing technology leadership, operational excellence, and customer satisfaction.
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