CAMTEK LTD
For the period ended May 12, 2026. Filed May 12, 2026.
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May 12, 2026 · Filed May 12, 2026
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Contents
(In thousands, except share data)
| Three months ended March 31, · Year ended December 31, | |||
|---|---|---|---|
| 2026 | 2025 | 2025 | |
| U.S. dollars · U.S. dollars | |||
| Reported net income attributable to Camtek Ltd. on GAAP basis | 31,645 | 34,311 | 50,722 |
| Acquisition of FRT-related expenses (1) | 489 | 650 | 2,801 |
| Loss from extinguishment of Capital Notes (2) | - | - | 88,682 |
| Share-based compensation | 3,122 | 3,710 | 16,819 |
| Non-GAAP net income | 35,256 | 38,671 | 159,024 |
| Non –GAAP net income per share, diluted | 0.70 | 0.79 | 3.26 |
| Gross margin on GAAP basis | 50.1% | 51.0% | 50.4% |
| Reported gross profit on GAAP basis | 60,929 | 60,564 | 250,317 |
| Acquisition of FRT-related expenses (1) | 610 | 610 | 2,895 |
| Share-based compensation | 452 | 584 | 2,806 |
| Non-GAAP gross profit | 61,991 | 61,758 | 51.6% |
| Non- GAAP gross margin | 51.0% | 52.1% | 256,018 |
| Reported operating income attributable to Camtek Ltd. on GAAP basis | 27,266 | 32,700 | 128,303 |
| Acquisition of FRT-related expenses (1) | 692 | 928 | 4,000 |
| Share-based compensation | 3,122 | 3,710 | 16,819 |
| Non-GAAP operating income | 31,080 | 37,338 | 149,122 |
(1) During the three-month period ended March 31, 2026, 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) $0.1 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (3) $0.2 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the three-month period ended March 31, 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 year ended December 31, 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.
(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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