Axcelis Technologies Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Axcelis Technologies Inc. has submitted its 2023 annual report (10-K) detailing financial data and corporate history.</b>

AI Summary

AXCELIS TECHNOLOGIES INC (ACLS) filed a Annual Report (10-K) with the SEC on February 23, 2024. Axcelis Technologies Inc. filed its annual report on Form 10-K for the fiscal year ending December 31, 2023. The filing was made on February 23, 2024. The company's principal business address is 108 Cherry Hill Drive, Beverly, MA 01915. Axcelis Technologies Inc. was formerly known as Eaton Semiconductor Equipment Inc. until May 1, 2000. The filing includes data related to common stock, retained earnings, additional paid-in capital, and accumulated other comprehensive income for fiscal years 2020 through 2023.

Why It Matters

For investors and stakeholders tracking AXCELIS TECHNOLOGIES INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Axcelis Technologies' financial performance and position for the fiscal year 2023, which is crucial for investors to assess the company's health and future prospects. The detailed financial information, including historical data on equity accounts and fair value measurements, allows stakeholders to track trends and make informed investment decisions.

Risk Assessment

Risk Level: low — AXCELIS TECHNOLOGIES INC shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant new risks or disclosures beyond routine financial reporting.

Analyst Insight

Review the detailed financial statements and disclosures within the 10-K to understand Axcelis Technologies' performance and financial health for fiscal year 2023.

Key Numbers

• 32685000 — Valuation Allowance of Deferred Tax Assets (2023)
• 32775000 — Valuation Allowance of Deferred Tax Assets (2022)

Key Players & Entities

• AXCELIS TECHNOLOGIES INC (company) — Filer name
• EATON SEMICONDUCTOR EQUIPMENT INC (company) — Former company name
• BEVERLY (location) — Business address city
• MA (location) — Business address state
• 01915 (location) — Business address zip
• 2024-02-23 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 2000-05-01 (date) — Date of name change

FAQ

Industry Context

Axcelis Technologies operates in the semiconductor equipment industry, providing ion implantation and related technologies crucial for semiconductor manufacturing.

Regulatory Implications

The filing is a standard 10-K report under the Securities Exchange Act of 1934, requiring public companies to disclose material information about their business, financial condition, and operations.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the risk factors section for any new or evolving business, market, or regulatory risks.
3. Examine management's discussion and analysis (MD&A) for insights into the company's strategy and outlook.

Key Dates

• 2024-02-23: 10-K Filing — Submission of the annual report for fiscal year 2023.
• 2023-12-31: Fiscal Year End — End date for the reporting period covered by the 10-K.
• 2000-05-01: Name Change — Date when the company changed its name from Eaton Semiconductor Equipment Inc.

Year-Over-Year Comparison

This filing is the annual report for fiscal year 2023, following previous filings which would include quarterly reports (10-Q) and potentially prior annual reports.

Key Financial Figures

• $0.001 — nding of the registrant's Common Stock, $0.001 par value, as of February 20, 2024: 32,
• $1,130.6 m — c company in 2001. Revenue for 2023 was $1,130.6 million, an increase of 22.9% from 2022 r
• $920.0 million — increase of 22.9% from 2022 revenue of $920.0 million. Systems revenue for 2023 was $883.6 mi
• $883.6 m — 0 million. Systems revenue for 2023 was $883.6 million, compared to $692.1 million in 20
• $692.1 million — or 2023 was $883.6 million, compared to $692.1 million in 2022. Gross margin percent for the y
• $265.8 million — to 43.7% in 2022. Operating profit was $265.8 million in 2023, compared to $212.4 million in
• $212.4 million — was $265.8 million in 2023, compared to $212.4 million in 2022. Net income for the year was $2
• $246.3 m — on in 2022. Net income for the year was $246.3 million, an increase of 34.5% from 2022,
• $1.130 — 3: Axcelis delivered record revenue of $1.130.6 million dollars in 2023, and record e
• $7.43 — 2023, and record earnings per share of $7.43. Our 23% revenue growth over 2022 was a
• $1.3 billion — to build the foundation to achieve our $1.3 billion implant-only business model in 2025 o
• $247.0 m — rated 5 through our CS&I business of $247.0 million, $227.9 million, and $207.8 milli
• $227.9 m — gh our CS&I business of $247.0 million, $227.9 million, and $207.8 million represents 21
• $207.8 million — of $247.0 million, $227.9 million, and $207.8 million represents 21.8%, 24.8% and 31.4% of to
• $96.9 m — enses for research and development were $96.9 million, $78.4 million and $65.4 million

Filing Documents

• acls-20231231x10k.htm (10-K) — 2639KB
• acls-20231231xex10d8.htm (EX-10.8) — 26KB
• acls-20231231xex10d9.htm (EX-10.9) — 13KB
• acls-20231231xex10d14.htm (EX-10.14) — 41KB
• acls-20231231xex19d1.htm (EX-19.1) — 35KB
• acls-20231231xex21d1.htm (EX-21.1) — 7KB
• acls-20231231xex23d1.htm (EX-23.1) — 6KB
• acls-20231231xex31d1.htm (EX-31.1) — 13KB
• acls-20231231xex31d2.htm (EX-31.2) — 14KB
• acls-20231231xex32d1.htm (EX-32.1) — 6KB
• acls-20231231xex32d2.htm (EX-32.2) — 7KB
• acls-20231231xex19d1001.jpg (GRAPHIC) — 7KB
• 0001558370-24-001628.txt (&nbsp;) — 11973KB
• acls-20231231.xsd (EX-101.SCH) — 67KB
• acls-20231231_cal.xml (EX-101.CAL) — 102KB
• acls-20231231_def.xml (EX-101.DEF) — 244KB
• acls-20231231_lab.xml (EX-101.LAB) — 664KB
• acls-20231231_pre.xml (EX-101.PRE) — 475KB
• acls-20231231x10k_htm.xml (XML) — 2493KB

Business

Item 1. Business. Overview of Our Business Axcelis Technologies, Inc. ("Axcelis," the "Company," "we," "us," or "our") designs, manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. We believe that our Purion family of products offers the most innovative implanters available on the market today. We sell to leading semiconductor chip manufacturers worldwide. The ion implantation business represented 98.3% of our revenue in 2023, with the remaining 1.7% of revenue derived from aftermarket sales associated with other legacy processing systems. In addition to equipment, we provide extensive aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services and customer training. Axcelis' business commenced in 1978 and its current corporate entity was incorporated in Delaware in 1995. We are headquartered in Beverly, Massachusetts and maintain an internet site at www.axcelis.com. On or through our website, investors may access, free of charge, our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after we electronically file such material with, or furnish it to, the Securities and Exchange Commission. Our website and the information contained therein or connected thereto shall not be deemed to be incorporated into this Annual Report on Form 10-K. 2023 was an exceptional year for Axcelis during an industry downturn. As a result of the demand for the Company's products and aftermarket support, we delivered record full year revenue and operating profit since our first full year as a public company in 2001. Revenue for 2023 was $1,130.6 million, an increase of 22.9% from 2022 revenue of $920.0 million. Systems revenue for 2023 was $883.6 million, compared to $692.1 million

View Full Filing

View this 10-K filing on SEC EDGAR