CAMTEK LTD
For the period ended Aug 5, 2025. Filed Aug 5, 2025.
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Aug 5, 2025 · Filed Aug 5, 2025
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Contents
(In thousands, except share data)
| Six Months ended June 30, · Three Months ended June 30, · Year ended December 31, | |||||
|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | 2024 | |
| U.S. dollars · U.S. dollars · U.S. dollars | |||||
| Reported net income attributable to Camtek Ltd. on GAAP basis | 68,006 | 52,763 | 33,695 | 27,964 | 118,515 |
| Acquisition of FRT related expenses (1) | 1,300 | 4,034 | 650 | 650 | 5,334 |
| Share-based compensation | 8,203 | 7,109 | 4,493 | 3,991 | 14,775 |
| Non-GAAP net income | 77,509 | 63,906 | 38,838 | 32,605 | 138,624 |
| Non–GAAP net income per diluted share | 1.57 | 1.30 | 0.79 | 0.66 | 2.83 |
| Gross margin on GAAP basis | 50.9% | 48.1% | 50.8% | 49.9% | 49.6% |
| Reported gross profit on GAAP basis | 123,175 | 95,963 | 62,611 | 51,144 | 209,951 |
| Acquisition of FRT related expenses (1) | 1,220 | 4,582 | 610 | 610 | 5,802 |
| Share-based compensation | 1,344 | 1,006 | 763 | 608 | 2,197 |
| Non- GAAP gross profit | 125,729 | 101,551 | 63,984 | 52,362 | 217,950 |
| Non-GAAP gross margin | 52.0% | 50.9% | 51.9% | 51.0% | 50.8% |
| Reported operating income attributable to Camtek Ltd. on GAAP basis | 64,674 | 47,123 | 31,974 | 25,885 | 108,069 |
| Acquisition of FRT related expenses (1) | 1,856 | 5,599 | 928 | 928 | 7,455 |
| Share-based compensation | 8,203 | 7,109 | 4,493 | 3,991 | 14,775 |
| Non-GAAP operating income | 74,733 | 59,831 | 37,395 | 30,804 | 130,299 |
(1) During the six-month period ended June 30, 2025, the Company recorded acquisition-related expenses of $1.3 million, consisting of: (1) $1.2 million amortization of intangible assets acquired recorded under cost of revenues line item. (2) $0.6 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (3) $0.6 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the three-month period ended June 30, 2025, the Company recorded acquisition-related expenses of $0.6 million, consisting of: (1) $0.6 million amortization of intangible assets acquired recorded under cost of revenues line item. (2) $0.3 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (3) $0.3 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the six-month period ended June 30, 2024, the Company recorded acquisition-related expenses of $4.0 million, consisting of: (1) inventory written-up to fair value in purchase accounting charges of $3.4 million. This amount is recorded under cost of revenues line item. (2) $1.2 million amortization of intangible assets acquired recorded under cost of revenues line item. (3) $0.6 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $0.4 million re-organization expenses, recorded under the general and administrative expenses line item. (5) $1.6 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the three-month period ended June 30, 2024, the Company recorded acquisition-related expenses of $0.6 million, consisting of: (1) $0.6 million amortization of intangible assets acquired recorded under cost of revenues line item. (2) $0.3 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (3) $0.3 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the year ended December 31, 2024, the Company recorded acquisition-related expenses of $5.3 million, consisting of: (1) inventory written-up to fair value in purchase accounting charges of $3.4 million. This amount is recorded under cost of revenues line item. (2) $2.4 million amortization of intangible assets acquired recorded under cost of revenues line item. (3) $1.3 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $0.4 million re-organization expenses, recorded under the general and administrative expenses line item. (5) $2.1 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
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