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AMTECH SYSTEMS INC

For the period ended Mar 31, 2024. Filed May 8, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 8, 2024

ASYS$11.43+3.1%Stored close · as of Nov 6, 2026
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: March 31,2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________________ to ________________

Commission File Number:0-11412

AMTECH SYSTEMS, INC.

(Exact name of registrant as specified in its charter)

Arizona86-0411215
(State or other jurisdiction of(I.R.S. Employer
incorporation or organization)Identification No.)
58 South River Drive Suite 370, Tempe, Arizona85288
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code:480-967-5146

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per shareASYSNASDAQ Global Select Market

Indicate by a check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.:

Large Accelerated Filer☐Accelerated Filer☒
Non-Accelerated Filer☐Smaller Reporting Company☒
Emerging Growth Company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒

At May 3, 2024, there were outstanding 14,208,795 shares of Common Stock.

TABLE OFCONTENTS

Page
Cautionary Statement Regarding Forward-Looking Statements3
PART I. FINANCIAL INFORMATION4
Item 1. Condensed Consolidated Financial Statements4
Condensed Consolidated Balance Sheets March 31, 2024 (Unaudited) and September 30, 20234
Condensed Consolidated Statements of Operations (Unaudited) Three and Six Months Ended March 31, 2024 and 20235
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) Three and Six Months Ended March 31, 2024 and 20236
Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) Three and Six Months Ended March 31, 2024 and 20237
Condensed Consolidated Statements of Cash Flows (Unaudited) Six Months Ended March 31, 2024 and 20238
Notes to Condensed Consolidated Financial Statements (Unaudited)9
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations26
Overview26
Results of Operations27
Liquidity and Capital Resources30
Off-Balance Sheet Arrangements33
Contractual Obligations33
Critical Accounting Estimates33
Impact of Recently Issued Accounting Pronouncements34
Item 3. Quantitative and Qualitative Disclosures About Market Risk34
Item 4. Controls and Procedures34
PART II. OTHER INFORMATION36
Item 1. Legal Proceedings36
Item 1A. Risk Factors36
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds36
Item 3. Defaults Upon Senior Securities36
Item 4. Mine Safety Disclosures36
Item 5. Other Information36
Item 6. Exhibits37
SIGNATURES38
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.