Description

Axcelis Tech Eyes $453M Backlog: Can Wall Street Overcome Flat 2026 Guidance?

Axcelis Technologies reported first-quarter 2026 revenue of $199 million and earnings per diluted share of $0.72, slightly above expectations. The results included a $5 million one-time customer settlement that negatively impacted system revenue, gross margin, and EPS but, excluding this, the underlying financials would have been stronger. The company continued to see robust growth in its Consumables, Service, and Instrumentation (CS&I) segment, which increased more than 30% year-over-year, driven by an expanded installed base, increased utilization, and product innovation. System shipments to the memory market rose sequentially to their highest level since late 2023, supported by strong demand in DRAM and high-bandwidth memory related to AI-driven capacity expansion. Although bookings remained roughly flat sequentially at $128 million, this marked the second consecutive quarter of year-over-year growth on a trailing 12-month basis. The backlog totaled $453 million at the end of the quarter.