Axcelis Technologies, Inc. is a company that designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. Headquartered in Beverly, Massachusetts, Axcelis provides solutions for the semiconductor industry, focusing on ion implantation systems and aftermarket lifecycle products and services. The company sells its products to leading semiconductor chip manufacturers worldwide, leveraging its innovative Purion family of products.
- Ion Implantation Systems and Services - Manufactures high current, medium current, and high energy implanters, along with providing services such as spare parts, equipment upgrades, used equipment, maintenance services, and customer training.
- Other Systems and Services - Offers legacy processing products, including curing and thermal processing systems.
You might also like
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Russell J. Low ExecutiveBoard | President and Chief Executive Officer | Member of the Massachusetts High Tech Council; NAAB member of SEMI International | CEO of Axcelis Technologies since May 2023 and joined the Board of Directors at the same time; previously served as EVP, Global Customer and Engineering Operations (January 2021 to May 2023) and EVP, Engineering (October 2016 to January 2021) at Axcelis Technologies. | View Report → |
Christopher J. Tatnall Executive | Executive Vice President, Global Customer Operations | Christopher J. Tatnall, Ph.D. is the Executive Vice President, Global Customer Operations at Axcelis Technologies since September 2023. He previously served as Senior Vice President of Sales starting in March 2022 and has held leadership roles at MKS Instruments, Brooks Automation, Alcatel Vacuum Technology, and Edwards Vacuum. | ||
Gerald M. Blumenstock Executive | Executive Vice President, Research, Development and Engineering | Gerald M. Blumenstock is the Executive Vice President, Research, Development and Engineering at ACLS since June 12, 2023, bringing over 30 years of semiconductor industry experience, including roles as a management consultant, Senior Vice President at Veeco Instruments, and Vice President at Advanced Energy. | ||
Gregory F. Redinbo Executive | Executive Vice President, Marketing and Applications | Gregory F. Redinbo, Ph.D., serves as the Executive Vice President, Marketing and Applications at Axcelis Technologies since September 2022. He joined Axcelis in 2021 as Senior Vice President of Strategic Marketing and Business Development and previously held leadership roles at ASML and FEI. | ||
James G. Coogan Executive | Executive Vice President and Chief Financial Officer | James G. Coogan is the Executive Vice President and Chief Financial Officer (CFO) of Axcelis Technologies, Inc. since September 2023, with over 20 years of experience in finance, accounting, and investor relations. Previously, he held several executive roles at Kaman Corporation, including Senior Vice President and CFO. | ||
Lynnette C. Fallon Executive | Executive Vice President HR/Legal, General Counsel, and Corporate Secretary | Lynnette C. Fallon has served as the Executive Vice President HR/Legal, General Counsel, and Corporate Secretary at Axcelis Technologies since May 2005, playing a key role in managing legal and human resources operations. She is set to retire in early 2025 while continuing as a senior advisor, underscoring her long-term impact at the company. |
- In Q1, China revenue dropped to 37% and management noted a potential sequential increase in Q2; how will you balance the inherent regional volatility with efforts to consistently improve your revenue mix throughout 2025?
- Given the evolving global tariff landscape and your mitigating actions, can you provide more detailed projections on how even a relatively small tariff impact might affect your gross margins and overall cost structure in upcoming quarters?
- With the ongoing technology transitions from 150mm planar to 200mm trench and eventually super junction, what specific measures are you taking to quantify changes in capital intensity, and how will these shifts affect both product mix and long-term margin profiles?
- Your current share repurchase activity has increased significantly, yet the demand environment remains muted; what concrete criteria will you use to decide between additional share buybacks and reinvesting in organic or inorganic growth opportunities?
- The memory business, particularly DRAM, has driven order growth recently while NAND remains subdued; can you detail your strategic plans to diversify and broaden your memory business if NAND orders continue to lag and only DRAM contributes to the current uptick?
Research analysts who have asked questions during AXCELIS TECHNOLOGIES earnings calls.
Christian Schwab
Craig-Hallum Capital Group
4 questions for ACLS
Craig Ellis
B. Riley Securities
4 questions for ACLS
Jack Egan
Charter Equity Research
4 questions for ACLS
David Duley
Steelhead Securities LLC
3 questions for ACLS
Mark Miller
The Benchmark Company LLC
3 questions for ACLS
Thomas Diffely
D.A. Davidson & Co.
3 questions for ACLS
Jed Dorsheimer
William Blair & Company, L.L.C.
2 questions for ACLS
Charles Shi
Needham & Company
1 question for ACLS
Duksan Jang
BofA Securities
1 question for ACLS
Jonathan Dorsheimer
William Blair & Company, L.L.C.
1 question for ACLS
Mark Shooter
William Blair
1 question for ACLS
Ross Cole
Needham & Company, LLC
1 question for ACLS
Tom Diffely
D.A. Davidson Companies
1 question for ACLS
Yu Shi
Susquehanna International Group, LLP
1 question for ACLS
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
The company is one of the two ion implant system manufacturers with a full range of implant products, competing directly in the market for ion implantation systems. | |
Sumitomo Heavy Industries Ion Technology Co. Ltd. | This competitor operates in Japan and is one of the manufacturers of implantation equipment competing in the ion implantation systems market. |
Nissin Ion Equipment Co., Ltd. | This competitor is based in Japan and competes in the ion implantation systems market. |
Advanced Ion Beam Technology, Inc. | This competitor is located in Taiwan and is involved in the ion implantation systems market. |
Kingstone Semiconductor | This competitor operates in the People’s Republic of China and competes in the ion implantation systems market. |
CETC Electronics Equipment Group Co., Ltd. | This competitor is based in the People’s Republic of China and competes in the ion implantation systems market. |
Recent press releases and 8-K filings for ACLS.
- Axcelis Technologies Inc. and Veeco Instruments have agreed to an all-stock merger with an enterprise value of approximately $4.4 billion.
- Upon closing, Axcelis shareholders are expected to own approximately 58% and Veeco shareholders approximately 42% of the combined company.
- The combined company's pro-forma 2024 financials show $1.7 billion in revenue, a 44% non-GAAP gross margin, and $387 million in Adjusted EBITDA.
- The transaction is anticipated to be accretive to non-GAAP EPS within the first year post-closing and is expected to generate approximately $35 million in annual run-rate cost synergies.
- The merger will expand the total addressable market to over $5 billion and is projected to close in the second half of 2026.
- Axcelis Technologies and Vico announced an all-stock merger to create a leading semiconductor equipment company, with Axcelis shareholders owning approximately 58% and Vico shareholders approximately 42% of the combined entity.
- The merger is expected to be accretive to non-GAAP EPS within the first year post-closing and aims to broaden the product portfolio, expand the total addressable market, and increase R&D scale.
- On a 2024 pro forma basis, the combined company is projected to achieve $1.7 billion in revenue, a 44% gross margin, and $387 million in adjusted EBITDA, with an estimated $35 million in run-rate cost synergies within 24 months post-closing.
- The combined company will have over $900 million in cash and plans to execute a share repurchase program following the closing, which is anticipated in the second half of 2026.
- Axcelis Technologies and Veeco are combining to create an industry-leading semiconductor equipment company.
- The transaction is an all-stock deal where Veeco shareholders will receive 0.3575 Axcelis shares for each share they own. The enterprise value is approximately $4.4 billion, with pro forma ownership estimated at ~58% for Axcelis shareholders and ~42% for Veeco shareholders.
- The combined company will be headquartered in Beverly, Massachusetts, with Russell Low serving as CEO and James Coogan as CFO.
- The merger is expected to be accretive to non-GAAP EPS within 12 months post-closing and realize approximately $35 million in annual run-rate cost synergies within 24 months.
- Based on FY 2024 actual figures, the combined company would have had $1.7 billion in revenue, a 44% gross margin, and $387 million in Adjusted EBITDA. As of June 30, 2025, the combined cash position was over $900 million.
- Axcelis Technologies, Inc. (ACLS) and Veeco Instruments Inc. (VECO) have entered into a definitive agreement to combine in an all-stock merger.
- Under the terms of the agreement, Veeco shareholders will receive 0.3575 Axcelis shares for each share of Veeco they own. Upon closing, Axcelis shareholders are expected to own approximately 58% and Veeco shareholders approximately 42% of the combined company on a fully diluted basis.
- The combined company is projected to have an enterprise value of approximately $4.4 billion based on closing share prices as of September 30, 2025, and outstanding debt as of June 30, 2025.
- The merger is expected to be accretive to non-GAAP earnings per share within the first year post-closing. On a pro-forma basis for Fiscal Year 2024, the combined company generated $1.7 billion in revenue, a 44% non-GAAP gross margin, and $387 million in adjusted EBITDA.
- The transaction is anticipated to close in the second half of 2026, subject to approval by shareholders of both companies and the receipt of required regulatory approvals.
- Axcelis Technologies and Veeco Instruments have entered into a definitive all-stock merger agreement, creating a combined company with an expected enterprise value of approximately $4.4 billion based on closing share prices as of September 30, 2025, and outstanding debt as of June 30, 2025.
- On a pro-forma basis for Fiscal Year 2024, the combined company generated revenue of $1.7 billion, a non-GAAP gross margin of 44%, and adjusted EBITDA of $387 million.
- The merger is expected to be accretive to non-GAAP earnings per share within the first year post-closing and achieve annual run-rate cost synergies of $35 million within 24 months.
- Axcelis shareholders are anticipated to own approximately 58%, and Veeco shareholders approximately 42%, of the combined company on a fully diluted basis.
- The transaction is expected to close in the second half of 2026, pending shareholder and regulatory approvals.
- Axcelis Technologies, Inc. announced a Joint Development Program (JDP) with GE Aerospace to develop production-worthy 6.5 to 10kV superjunction power devices.
- The JDP will utilize Axcelis' Purion XEmax™ high energy implanter for process development.
- This collaboration aims to improve power switches for critical emerging applications, including artificial intelligence, quantum computing, autonomous vehicles, and aerospace and defense.
- In 2024, Axcelis generated $1 billion in system sales revenue, with $250 million from aftermarket; silicon carbide and general mature each contributed 41% of system sales, while memory fell to 2% amid cyclical downturn.
- Axcelis is #1 in the power and high-energy ion implantation market and #2 globally, as the total market expanded from $1 billion to $2.5–3 billion over recent years.
- The company remains debt-free, generated $673 million in cash from 2020–2024, achieved 89% free cash conversion in Q1 2025, and increased its share repurchase program by $100 million to $300 million, targeting over $15 million in quarterly buybacks.
- Strategic investments include over $100 million in R&D for 2025 to pursue advanced logic (<5% current penetration) and new middle/back-end implant applications, supported by an installed base of ~3,300 tools and a durable aftermarket stream.
- Axcelis reported Q1 2025 revenue of $193 M (down from $252.4 M in Q1 2024) with GAAP EPS of $0.88 (non‑GAAP: $1.04) and 46.1% GAAP/46.4% non‑GAAP gross margins
- Achieved net income of $28.6 M, Adjusted EBITDA of $39.5 M, and a GAAP operating margin of 15.1% (non‑GAAP: 18.3%)
- Delivered Q1 systems bookings of $110 M with a 0.8× book‑to‑bill ratio and closed with a $618 M systems backlog
- Generated $35 M free cash flow in Q1 and closed with $587 M cash with no debt
- Issued Q2 guidance of ~$185 M revenue, forecasting GAAP EPS of ~$0.57 and non‑GAAP EPS of ~$0.73, with an outlook of ~42% non‑GAAP gross margin and H2 revenue in line with H1
- Executed share repurchases of $18 M in Q1 and $23 M in Q2 to date, following a board increase in repurchase authorization by $100 M (with $212 M remaining)