AMTECH SYSTEMS INC

Cash and Cash Flow

The following table sets forth for the periods presented certain consolidated cash flow information, in thousands:

A summary of our cash position as of December 31, 2024 and September 30, 2024, is as follows, in thousands, except the current ratio:

The increase in cash and cash equivalents from September 30, 2024 of $2.1 million was primarily due to increased collections from customers and reduced inventory. We maintain a portion of our cash and cash equivalents in Renminbis, a Chinese currency, at our operations in China; therefore, changes in the exchange rates have an impact on our cash balances. The $0.5 million increase in working capital from September 30, 2024, was primarily due to a decrease in current liabilities.

During periods of weakening demand, we typically generate cash from operating activities, which we may decide to reinvest in our business via strategic projects. Conversely, we are more likely to use operating cash flows for working capital requirements during periods of higher growth. Our sources of capital in the past have included the sale of equity securities, which includes common stock sold in private transactions and public offerings, the incurrence of long-term debt and customer deposits.

Cash Flows from Operating Activities

Cash provided by our operating activities was $2.9 million for the three months ended December 31, 2024, compared to $5.0 million provided by operating activities for the three months ended December 31, 2023. Our accounts receivable collections exceeded new accounts receivable due to the timing of shipments and collections across both time periods. Additionally, during the period ended December 31, 2023, we received more down payments from customers for future shipments.

Cash Flows from Investing Activities

Cash used in investing activities was $0.1 million for the three months ended December 31, 2024, compared to $0.8 million used in investing activities in the three months ended December 31, 2023. Both periods consist solely of capital expenditures.

Cash Flows from Financing Activities

For the three months ended December 31, 2024, cash provided by financing activities was $0.1 million, primarily comprised of proceeds from the exercise of stock options. For the three months ended December 31, 2023, cash used by financing activities was $0.5 million, comprised of $0.6 million in payments on long-term debt partially offset by less than $0.1 million of proceeds received from the exercise of stock options.