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CAMTEK LTD.
(Registrant) By: /s/ Moshe Eisenberg —————————————— Moshe Eisenberg, Chief Financial Officer |
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Camtek Ltd.
P.O.Box 544, Ramat Gabriel Industrial Park
Migdal Ha’Emek 23150, ISRAEL
Tel: +972 (4) 604-8100 Fax: +972 (4) 644-0523
E-Mail: Info@camtek.com Web site: http://www.camtek.com
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CAMTEK LTD.
Moshe Eisenberg, CFO
Tel: +972 4 604 8308
Mobile: +972 54 900 7100
moshee@camtek.com
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INTERNATIONAL INVESTOR RELATIONS
EK Global Investor Relations
Ehud Helft
Tel: (US) 1 212 378 8040 camtek@ekgir.com
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Record revenues of $133.2 million, a 10% QoQ increase;
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GAAP gross margin of 50.1% and non-GAAP gross margin of 51.4%;
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| • |
GAAP operating income of $27.2 million and non-GAAP operating income of $36.0 million, representing operating margins of 20.4% and 27%, respectively;
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GAAP net income of $23.3 million and non-GAAP net income of $39.4 million; GAAP diluted EPS of $0.46 and non-GAAP diluted EPS of $0.78; and
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Completed the Visual Layer acquisition
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June 30,
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December 31,
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2026
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2025
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U.S. Dollars
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||||||||
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Assets
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||||||||
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Current assets
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||||||||
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Cash and cash equivalents
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215,229
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177,848
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||||||
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Short-term deposits
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327,440
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411,450
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||||||
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Marketable securities
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87,695
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78,862
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||||||
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Trade accounts receivable, net
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153,921
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90,829
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||||||
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Inventories
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99,816
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112,202
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Other current assets
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40,318
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25,804
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||||||
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Total current assets
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924,419
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896,995
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Marketable securities
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185,473
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182,941
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||||||
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Long-term inventory
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16,979
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15,569
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Deferred tax asset, net
|
11,661
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12,933
|
||||||
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Other assets, net
|
1,802
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1,881
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||||||
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Property, plant and equipment, net
|
59,359
|
55,090
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||||||
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Right of use assets, net
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9,968
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10,017
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||||||
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Intangible assets, net
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16,654
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10,062
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Goodwill
|
112,737
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74,345
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||||||
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Total non-current assets
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414,633
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362,838
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Total assets
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1,339,052
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1,259,833
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Liabilities and shareholders’ equity
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Current liabilities
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||||||||
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Trade accounts payable
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48,402
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33,676
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||||||
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Other current liabilities
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76,936
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73,749
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||||||
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Total current liabilities
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125,338
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107,425
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Long-term liabilities
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Deferred tax liabilities, net
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-
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1,261
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||||||
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Other long-term liabilities
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15,054
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14,311
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Convertible notes
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488,497
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519,833
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Total long-term liabilities
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503,551
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535,405
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Total liabilities
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628,889
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642,830
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Commitments and contingencies
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Shareholders’ equity
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Ordinary shares NIS 0.01 par value, 100,000,000 shares authorized at June 30, 2026 and at December 31, 2025;
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48,760,553 issued shares at June 30, 2026 and 47,920,509 at December 31, 2025;
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46,668,177 shares outstanding at June 30, 2026 and 45,828,133 at December 31, 2025
|
181
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178
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||||||
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Additional paid-in capital
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272,741
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231,892
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Accumulated other comprehensive income (loss)
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(2,355
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)
|
287
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|||||
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Retained earnings
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441,494
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386,544
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712,061
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618,901
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Treasury stock, at cost (2,092,376 shares as of June 30, 2026 and December 31, 2025)
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(1,898
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)
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(1,898
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)
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Total shareholders' equity
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710,163
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617,003
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Total liabilities and shareholders' equity
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1,339,052
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1,259,833
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Six months ended
June 30,
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Three months
ended June 30,
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Year ended
December 31,
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2026
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2025
|
2026
|
2025
|
2025
|
||||||||||||||||
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U.S. dollars
|
U.S. dollars
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U.S. dollars
|
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Revenues
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254,902
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241,955
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133,243
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123,317
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496,072
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Cost of revenues
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127,271
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118,780
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66,541
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60,706
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245,755
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Gross profit
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127,631
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123,175
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66,702
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62,611
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250,317
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Operating expenses:
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Research and development
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31,007
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21,836
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16,684
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11,474
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48,345
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Selling, general and administrative
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42,131
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36,665
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22,791
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19,163
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73,769
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Total operating expenses
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73,138
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58,501
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39,475
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30,637
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122,114
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Operating income
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54,493
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64,674
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27,227
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31,974
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128,203
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Financial income, net
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15,126
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10,375
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6,977
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4,942
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25,064
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Other expenses
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-
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-
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-
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-
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(100,932
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)
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Income before income taxes
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69,619
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75,049
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34,204
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36,916
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52,335
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Income tax expense
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(14,669
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)
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(7,043
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)
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(10,899
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)
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(3,221
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)
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(1,613
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)
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Net income
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54,950
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68,006
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23,305
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33,695
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50,722
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Six months ended
June 30,
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Three months
ended June 30,
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Year ended
December 31,
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2026
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2025
|
2026
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2025
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2025
|
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U.S. dollars
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U.S. dollars
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U.S. dollars
|
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Basic net earnings per share (in US dollars)
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1.18
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1.49
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0.50
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0.74
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1.11
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Diluted net earnings per share (in US dollars)
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1.09
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1.39
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0.46
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0.69
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1.04
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Weighted average number of
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ordinary shares outstanding:
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Basic
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46,496
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45,622
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46,643
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45,682
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45,703
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Diluted
|
51,433
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49,306
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51,520
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49,327
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49,970
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Six Months ended
June 30,
|
Three Months ended
June 30,
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Year ended
December 31,
|
||||||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
2025
|
||||||||||||||||
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U.S. dollars
|
U.S. dollars
|
U.S. dollars
|
||||||||||||||||||
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Reported net income attributable to Camtek Ltd. on GAAP basis
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54,950
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68,006
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23,305
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33,695
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50,722
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Acquisition-related expenses (1)
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4,059
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1,300
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3,570
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650
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2,801
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One-time Tax expenses
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7,700
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-
|
7,700
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-
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-
|
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Loss from extinguishment of Capital Notes (2)
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-
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-
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-
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-
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88,682
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Share-based compensation
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7,995
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8,203
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4,873
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4,493
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16,819
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|||||||||||||||
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Non-GAAP net income
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74,704
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77,509
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39,448
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38,838
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159,024
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Non–GAAP net income per diluted share
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1.48
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1.57
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0.78
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0.79
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3.26
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Gross margin on GAAP basis
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50.1
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%
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50.9
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%
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50.1
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%
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50.8
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%
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50.4
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%
|
||||||||||
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Reported gross profit on GAAP basis
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127,631
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123,175
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66,702
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62,611
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250,317
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Acquisition-related expenses (1)
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1,707
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1,220
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1,097
|
610
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2,895
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Share-based compensation
|
1,139
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1,344
|
687
|
763
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2,806
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Non- GAAP gross profit
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130,477
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125,739
|
68,486
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63,984
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256,018
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Non-GAAP gross margin
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51.2
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%
|
52.0
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%
|
51.4
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%
|
51.9
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%
|
51.6
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%
|
||||||||||
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Reported operating income attributable to Camtek Ltd. on GAAP basis
|
54,493
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64,674
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27,227
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31,974
|
128203
|
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Acquisition-related expenses (1)
|
4,620
|
1,856
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3,928
|
928
|
4,000
|
|||||||||||||||
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Share-based compensation
|
7,995
|
8,203
|
4,873
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4,493
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16,819
|
|||||||||||||||
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Non-GAAP operating income
|
67,108
|
74,733
|
36,028
|
37,395
|
149,022
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