CAMTEK LTD
For the period ended Feb 18, 2026. Filed Feb 18, 2026.
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Feb 18, 2026 · Filed Feb 18, 2026
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Contents
(In thousands, except share data)
| Year ended December 31, | Three Months ended December 31, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| U.S. dollars · U.S. dollars | ||||
| Reported net income attributable to Camtek Ltd. on GAAP basis | 50,722 | 118,515 | 35,897 | 33,009 |
| Acquisition of FRT-related expenses (1) | 2,801 | 5,334 | 533 | 650 |
| Loss from extinguishment of Capital Notes (2) | 88,682 | - | - | - |
| Share-based compensation | 16,819 | 14,775 | 4,233 | 4,052 |
| Non-GAAP net income | 159,024 | 138,624 | 40,663 | 37,711 |
| Non–GAAP net income per diluted share | 3.26 | 2.83 | 0.81 | 0.77 |
| Gross margin on GAAP basis | 50.4% | 49.6% | 51.0% | 50.6% |
| Reported gross profit on GAAP basis | 250,317 | 209,951 | 64,100 | 58,132 |
| Acquisition of FRT-related expenses (1) | 2,895 | 5,802 | 610 | 610 |
| Share-based compensation | 2,806 | 2,197 | 712 | 595 |
| Non-GAAP gross margin | 51.6% | 50.8% | 51.0% | 50.6% |
| Non-GAAP gross profit | 256,018 | 217,950 | 65,422 | 59,337 |
| Reported operating income (loss) attributable to Camtek Ltd. on GAAP basis | 128,303 | 108,069 | 31,783 | 31,300 |
| Acquisition of FRT-related expenses (1) | 4,000 | 7,455 | 761 | 928 |
| Share-based compensation | 16,819 | 14,775 | 4,233 | 4,052 |
| Non-GAAP operating income | 149,122 | 130,299 | 36,777 | 36,280 |
(1) During the year ended December 310, 2025, the Company recorded acquisition-related expenses of $2.8 million, consisting of: (1) inventory written-up to fair value in purchase accounting charges of $0.5 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) $1.1 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $1.2 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the three-month period ended December 31, 2025, the Company recorded acquisition-related expenses of $0.5 million, consisting of: (1) $0.6 million amortization of intangible assets acquired recorded under cost of revenues line item. (2) $0.2 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $0.2 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.
During the three-month period ended December 31, 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.
(2) During the year ended December 31, 2025, the Company recorded a loss of $88.7 million, consisting of: (1) $100.9 million from the extinguishment of Capital Notes recorded under the other expenses line item. (2) $12.3 million tax benefit recorded under the income tax benefit line item.
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