CAMTEK (CAMT) Company Report

Analyst Coverage

Research analysts who have asked questions during CAMTEK earnings calls.

Brian Chin

Stifel Financial Corp.

5 questions for CAMT

Also covers: AEIS, AMAT, COHU +8 more

Craig Ellis

B. Riley Securities

5 questions for CAMT

Also covers: ACLS, AKTS, AMKR +17 more

Michael Mani

Bank of America

5 questions for CAMT

Also covers: COHR, KLAC, MKSI +3 more

Auguste Richard

Northland Capital Markets

3 questions for CAMT

Also covers: AIP, AMBA, BURU +12 more

Charles Shi

Needham & Company

3 questions for CAMT

Also covers: ACLS, ACMR, ALTR +18 more

Edward Yang

Oppenheimer & Co. Inc.

3 questions for CAMT

Also covers: ENTG, ICHR, KLAC +4 more

Gus Richard

Northland Capital Markets

3 questions for CAMT

Also covers: AIP, AMBA, CEVA +9 more

Matthew Prisco

Cantor Fitzgerald

3 questions for CAMT

Also covers: FORM, MCHP, MKSI +3 more

Vedvati Shrotre

Evercore ISI

3 questions for CAMT

Also covers: FORM, NVMI, ONTO +1 more

Yu Shi

Susquehanna International Group, LLP

3 questions for CAMT

Also covers: ACLS, ACMR, AMAT +11 more

Blayne Curtis

Jefferies Financial Group

2 questions for CAMT

Also covers: ADI, AIP, ALAB +20 more

Jim Schneider

Goldman Sachs

2 questions for CAMT

Also covers: ACN, ADI, AMAT +32 more

Kyle Bleustein

Barclays

2 questions for CAMT

Shane Brett

Morgan Stanley

2 questions for CAMT

Also covers: AMAT, KLAC, MKSI +2 more

Denis Pyatchanin

Stifel Financial Corp.

1 question for CAMT

Also covers: ACLS, AMKR, COHU +3 more

Ezra Weener

Jefferies LLC

1 question for CAMT

Also covers: COHR, LITE, LSCC +2 more

Shahar Cohen

Lucid Capital

1 question for CAMT

Thomas O’Malley

Barclays Capital

1 question for CAMT

Also covers: ALAB, ALGM, AMD +21 more

Latest news

Recent press releases and 8-K filings for CAMT.

Camtek Reports Record Q4 and Full-Year 2025 Results, Forecasts Double-Digit Growth for 2026

CAMT

Earnings

Guidance Update

Revenue Acceleration/Inflection

Camtek achieved record revenues of $128.1 million in Q4 2025 and $496.9 million for the full year 2025, marking a 16% year-over-year growth.
For Q1 2026, the company forecasts revenues of around $120 million and projects another double-digit growth year for 2026, with revenues expected to be second-half weighted.
AI-related products constituted approximately 50% of full-year 2025 revenues, and the company anticipates its Hawk and Eagle G5 systems will contribute at least 50% of 2026 revenues.
Camtek reported a strong cash position with $851.1 million in cash and equivalents as of December 31, 2025, and expects gross margin improvement in the second half of 2026.

Feb 18, 2026, 2:00 PM

Transcript

Camtek Reports Record Q4 and Full-Year 2025 Results, Projects Double-Digit Growth for 2026

CAMT

Earnings

Guidance Update

Revenue Acceleration/Inflection

Camtek achieved record revenues of $128.1 million for Q4 2025, an increase of 9% year-over-year, and $496.9 million for the full year 2025, reflecting 16% year-over-year growth.
The company provided Q1 2026 revenue guidance of around $120 million and expects double-digit growth for the full year 2026, with revenues anticipated to be more second-half weighted.
Gross margin for Q4 2025 was 51.1%, and for the full year, it was 51.6%. Management anticipates gross margin to improve throughout 2026, particularly in the second half, while operating expenses are expected to increase in the first half due to R&D investments.
Approximately 50% of the full-year revenue was driven by AI-related products. The newer Hawk and Eagle G5 platforms, which accounted for about 30% of 2025 revenues, are projected to make up at least 50% in 2026.
Camtek has expanded its production capacity to over $700 million and expects to increase its market share in AI-related applications, with additional capacity in Europe anticipated by late 2026.

Feb 18, 2026, 2:00 PM

Transcript

Camtek Reports Record Q4 and Full Year 2025 Results, Forecasts Double-Digit Growth for 2026

CAMT

Earnings

Guidance Update

Revenue Acceleration/Inflection

Camtek achieved record revenues of $128.1 million in Q4 2025, an increase of 9% year-over-year, and $496.9 million for the full year 2025, reflecting 16% year-over-year growth.
The company provided Q1 2026 revenue guidance of around $120 million and expects double-digit growth for the full year 2026, with significant growth anticipated in the second half.
Approximately 50% of the full year 2025 revenue was driven by AI-related products, and the Hawk and Eagle G5 systems, which accounted for 30% of 2025 revenues, are expected to comprise at least 50% in 2026.
Camtek's operational capacity has increased to over $700 million, with additional capacity in Europe expected by late 2026, and the company has visibility extending into 2027.
Gross margin is projected to improve throughout 2026, remaining around 50.5%-51.5% in the first half, while operating expenses are expected to increase in the first half due to R&D investments.

Feb 18, 2026, 2:00 PM

Transcript

CAMTEK Announces Record Q4 and Full Year 2025 Results

CAMT

Earnings

Guidance Update

Revenue Acceleration/Inflection

CAMTEK reported record revenues of $128.1 million for Q4 2025, a 9% year-over-year increase, and $496.1 million for the full year 2025, a 16% year-over-year increase.
Non-GAAP diluted EPS was $0.81 for Q4 2025 and $3.26 for the full year 2025.
The company generated over $61 million in cash from operating activities in Q4 2025 and $142.6 million for the full year 2025, with total cash and equivalents reaching $851.1 million as of December 31, 2025.
Management expects double-digit revenue growth in 2026, with Q1 2026 revenues projected to be around $120 million.

Feb 18, 2026, 11:20 AM

6-K

Camtek Secures $45 Million in Hawk System Orders for AI Applications

CAMT

New Projects/Investments

Revenue Acceleration/Inflection

Camtek Ltd. (CAMT) announced a $25 million order for its Hawk systems from a tier-1 IDM for AI applications.
This recent order, combined with previous smaller orders from the same IDM, brings the total aggregate value to $45 million for Hawk systems.
The ordered systems are scheduled for delivery in 2026.
The Hawk is Camtek's latest inspection and metrology platform, designed for advanced packaging applications such as High Bandwidth Memory (HBM) and chiplets, and is expected to benefit from accelerating investments in AI infrastructure.

Feb 10, 2026, 9:00 PM

6-K

CAMTEK LTD Reports Q3 2025 Results and Projects AI-Driven Growth

CAMT

Earnings

Guidance Update

Revenue Acceleration/Inflection

CAMTEK LTD reported Q3 2025 revenue of $126 million, operating income of $37.6 million (29.9%), and a gross margin of 51.5%.
The company expects Q4 2025 revenue of approximately $127 million, which would result in annual revenues of $495 million.
CAMTEK LTD is positioned as a market leader in metrology and inspection for advanced packaging, with its business significantly driven by the surging AI market and demand for HPC, HBM, and Chiplet devices. The company projects a 51% CAGR for CoWoS and similar technologies from 2025-2029.
The company has a new target model aiming for ~$750 million in revenue with 54-55% Gross Margin and 33-35% Operating Margin, anticipating 2026 to be a growth year towards this goal.

Jan 13, 2026, 12:00 PM

6-K

Camtek Reports Record Q3 2025 Results and Provides 2026 Growth Outlook

CAMT

Earnings

Guidance Update

New Projects/Investments

Camtek reported record Q3 2025 revenues of $126 million, reflecting over 12% growth year over year, with a gross margin of 51.5% and net income of $40.9 million or $0.82 per diluted share.
The company concluded Q3 2025 with a strong cash position of approximately $794 million, which includes an additional $500 million from a convertible notes offering.
For Q4 2025, Camtek expects revenues of around $125 million, leading to an annual 2025 revenue of $495 million, representing 15% growth over 2024.
Camtek anticipates 2026 will be another year of growth, with revenue expected to be weighted towards the second half of the year due to a somewhat slower start, driven by continued investments in high-performance computing (HPC) and AI-driven applications.
New products, Eagle G5 and OAK, are expected to contribute approximately 30% of 2025 revenue and are positioned to capitalize on increasing demand for advanced semiconductor manufacturing equipment, particularly in HBM and CoWoS applications.

Nov 10, 2025, 2:00 PM

Transcript

CAMTEK LTD. Announces Record Q3 2025 Results and Q4 2025 Guidance

CAMT

Earnings

Guidance Update

Debt Issuance

Camtek Ltd. reported record revenues of $126.0 million for the third quarter of 2025, representing a 12% year-over-year increase.
The company recorded a GAAP net loss of $53.2 million and EPS of $(1.16) for Q3 2025, primarily due to a one-time capital loss of $89 million related to the repurchase of 2021 convertible notes.
On a non-GAAP basis, net income for Q3 2025 was $40.9 million (up 10% year-over-year), with diluted EPS of $0.82.
Management expects Q4 2025 revenue to be around $127 million, leading to an anticipated annual 2025 revenue of $495 million, which would mark a 15% growth over 2024.

Nov 10, 2025, 1:06 PM

6-K

CAMTEK LTD closes $500 million convertible senior notes offering

CAMT

Debt Issuance

New Projects/Investments

CAMTEK LTD closed an offering of $500,000,000 aggregate principal amount of 0.00% Convertible Senior Notes due 2030 on September 16, 2025.
The Notes were issued in a private offering to qualified institutional buyers, will not bear regular interest, and will mature on September 15, 2030.
The initial conversion rate is 9.1455 ordinary shares per $1,000 principal amount, equivalent to a conversion price of approximately $109.34 per ordinary share.
The company received approximately $486.5 million in net proceeds, using $267.0 million to repurchase $167.1 million of existing convertible notes and allocating the remainder for general corporate purposes.

Sep 16, 2025, 8:15 PM

6-K

Camtek Prices Upsized Private Offering of Convertible Senior Notes

CAMT

Debt Issuance

New Projects/Investments

Convertible Preferred Issuance

Camtek Ltd. announced the pricing of an upsized private offering of $425 million of 0.00% convertible senior notes due 2030.
The offering was upsized from a previously announced $400 million, and initial purchasers have an option to buy up to an additional $75 million aggregate principal amount of the Notes.
The Notes will mature on September 15, 2030, and have an initial conversion price of approximately $109.34 per share, which represents a conversion premium of approximately 30.0%.
Camtek intends to use the net proceeds to repurchase approximately $167.1 million aggregate principal amount of its 2026 convertible notes for about $267.0 million in cash, with the remainder for general corporate purposes.