Axcelis Technologies (ACLS) financial statements
Axcelis Technologies reported revenue of $839M in fiscal 2025, up 13.6% a year over 9 years.
Net income was $120M and the operating margin 14.2%, against 6.2% in 2016.
Free cash flow was $107M, and the company returned $121M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Axcelis Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $267M | $411M | $443M | $343M | $475M | $662M | $920M | $1.1B | $1.0B | $839M |
| Cost of revenue | $167M | $260M | $263M | $199M | $276M | $376M | $518M | $639M | $563M | $462M |
| Gross profit | $100M | $150M | $180M | $144M | $199M | $286M | $402M | $491M | $455M | $377M |
| Research and development | $34M | $43M | $52M | $54M | $62M | $65M | $78M | $97M | $105M | $109M |
| Selling, general and admin | $48M | $59M | $68M | $66M | $79M | $94M | $111M | $129M | $138M | $149M |
| Operating income | $17M | $48M | $60M | $24M | $58M | $127M | $212M | $266M | $211M | $119M |
| Interest expense | $5M | $5M | $5M | $5M | $5M | $5M | $6M | $5M | $5M | $5M |
| Pre-tax income | $11M | $44M | $55M | $21M | $56M | $120M | $205M | $279M | $230M | $138M |
| Income tax | $23,000 | -$83M | $9M | $4M | $6M | $22M | $22M | $32M | $29M | $18M |
| Net income | $11M | $127M | $46M | $17M | $50M | $99M | $183M | $246M | $201M | $120M |
| EPS (diluted) | $0.36 | $3.80 | $1.35 | $0.50 | $1.46 | $2.88 | $5.46 | $7.43 | $6.15 | $3.80 |
| Diluted shares | 31M | 33M | 34M | 34M | 34M | 34M | 34M | 33M | 33M | 32M |
| Gross margin | 37.3% | 36.6% | 40.6% | 42.0% | 41.8% | 43.2% | 43.7% | 43.5% | 44.7% | 44.9% |
| Operating margin | 6.2% | 11.7% | 13.5% | 7.1% | 12.2% | 19.2% | 23.1% | 23.5% | 20.7% | 14.2% |
| Net margin | 4.1% | 30.9% | 10.4% | 5.0% | 10.5% | 14.9% | 19.9% | 21.8% | 19.7% | 14.3% |
Balance sheet
Fiscal years, from Axcelis Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $71M | $133M | $178M | $140M | $203M | $295M | $432M | $506M | $571M | $374M |
| Receivables | $51M | $75M | $79M | $84M | $87M | $104M | $170M | $218M | $203M | $168M |
| Inventory | $114M | $121M | $129M | $140M | $161M | $195M | $242M | $306M | $282M | $329M |
| Total current assets | $241M | $340M | $397M | $376M | $471M | $619M | $878M | $1.1B | $1.1B | $943M |
| Property, plant and equipment | $31M | $36M | $41M | $25M | $30M | $35M | $40M | $54M | $54M | $56M |
| Total assets | $302M | $488M | $548M | $548M | $625M | $753M | $1.0B | $1.3B | $1.3B | $1.4B |
| Total current liabilities | $48M | $79M | $85M | $69M | $84M | $150M | $248M | $285M | $208M | $198M |
| Total liabilities | $101M | $135M | $140M | $129M | $143M | $214M | $346M | $417M | $336M | $327M |
| Shareholders' equity | $201M | $354M | $408M | $419M | $482M | $539M | $667M | $865M | $1.0B | $1.0B |
| Net debt | -$71M | -$133M | -$178M | -$140M | -$203M | -$295M | -$186M | -$167M | -$124M | -$145M |
Cash flow
Fiscal years, from Axcelis Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$9M | $56M | $47M | -$14M | $70M | $150M | $216M | $157M | $141M | $118M |
| Capital spending | $3M | $7M | $5M | $12M | $7M | $9M | $11M | $21M | $12M | $11M |
| Free cash flow | -$11M | $49M | $42M | -$26M | $62M | $141M | $205M | $136M | $129M | $107M |
| Stock-based compensation | $5M | $6M | $8M | $8M | $10M | $12M | $13M | $18M | $21M | $21M |
| Share buybacks (net) | — | — | — | -$18M | -$8M | -$50M | -$57M | -$52M | -$60M | -$121M |
| Free cash flow margin | -4.2% | 11.9% | 9.5% | -7.5% | 13.1% | 21.4% | 22.3% | 12.0% | 12.6% | 12.8% |
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Open ACLS in InvestinglyQuestions
What was Axcelis Technologies's revenue in 2025?
$839M in fiscal 2025, from its 10-K filing.
How much free cash flow does Axcelis Technologies generate?
$107M in fiscal 2025 (operating cash flow minus capital spending).
From Axcelis Technologies's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.