CAMTEK LTD
For the period ended Nov 4, 2026. Filed Nov 4, 2026.
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Nov 4, 2026 · Filed Nov 4, 2026
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Contents
(In thousands, except share data)
| Nine months ended September 30, · Three months ended September 30, · Year ended December 31, | |||||
|---|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | 2025 | |
| U.S. dollars · U.S. dollars · U.S. dollars | |||||
| Reported net income attributable to Camtek Ltd. on GAAP basis | 97,785 | 14,825 | 42,835 | (53,181) | 50,722 |
| Acquisition-related expenses (1) | 4,699 | 2,268 | 640 | 968 | 2,801 |
| One-time Tax expenses | 7,700 | - | - | - | - |
| Restructuring of facilities | 1,118 | - | 1,118 | - | - |
| Loss from extinguishment of Capital Notes (2) | - | 88,682 | - | 88,682 | 88,682 |
| Share-based compensation | 13,696 | 12,586 | 5,701 | 4,383 | 16,819 |
| Non-GAAP net income | 124,998 | 118,361 | 50,294 | 40,852 | 159,024 |
| Non-GAAP net income per diluted share | 2.45 | 2.42 | 0.99 | 0.82 | 3.26 |
| Gross margin on GAAP basis | 50.0% | 50.6% | 50.0% | 50.0% | 50.4% |
| Reported gross profit on GAAP basis | 208,233 | 186,217 | 80,602 | 63,042 | 250,317 |
| Acquisition-related expenses (1) | 2,812 | 2,285 | 1,105 | 1,065 | 2,895 |
| Share-based compensation | 1,777 | 2,094 | 638 | 750 | 2,806 |
| Non-GAAP gross profit | 212,822 | 190,596 | 82,345 | 64,857 | 256,018 |
| Non-GAAP gross margin | 51.1% | 51.8% | 51.1% | 51.5% | 51.6% |
| Reported operating income attributable to Camtek Ltd. on GAAP basis | 94,329 | 96,519 | 39,836 | 31,845 | 128,203 |
| Acquisition-related expenses (1) | 6,586 | 3,239 | 1,966 | 1,383 | 4,000 |
| Share-based compensation | 13,696 | 12,586 | 5,701 | 4,383 | 16,819 |
| Non-GAAP operating income | 114,611 | 112,344 | 47,503 | 37,611 | 149,022 |
(1) During the nine-month period ended September 30, 2026, the Company recorded acquisition-related expenses of $4.7 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) $1.8 million amortization of intangible assets acquired recorded under cost of revenues line item. (3) $0.3 million of compensation-related expenses recorded under research and development expenses line item. (4) $0.2 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (5) $2.6 million one-time M&A expenses recorded under G&A line item. (6) $0.8 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the three-month period ended September 30, 2026, 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) $0.2 million of compensation-related expenses recorded under research and development expenses line item. (3) $0.1 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 nine-month period ended September 30, 2025, the Company recorded acquisition-related expenses of $2.3 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) $1.8 million amortization of intangible assets acquired recorded under cost of revenues line item. (3) $1.0 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $1.0 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.
During the three-month period ended September 30, 2025, the Company recorded acquisition-related expenses of $1.0 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) $0.6 million amortization of intangible assets acquired recorded under cost of revenues line item. (3) $0.3 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $0.4 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 nine-month and three-month periods ended September 30, 2025 and 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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