Axcelis Technologies Inc. Files Amended 10-K for Fiscal Year Ended December 31, 2023

TL;DR

<b>Axcelis Technologies Inc. has filed an amended 10-K for FY2023, detailing financial data including deferred tax assets, allowances, equity components, and investment fair values.</b>

AI Summary

AXCELIS TECHNOLOGIES INC (ACLS) filed a Amended Annual Report (10-K/A) with the SEC on February 28, 2024. Axcelis Technologies Inc. filed an amended 10-K report for the fiscal year ending December 31, 2023. The filing includes data related to valuation allowance of deferred tax assets for the years 2020 through 2023. Information on allowance for doubtful accounts and returns is also provided for the fiscal year 2023. Details on common stock, retained earnings, additional paid-in capital, and accumulated other comprehensive income are presented for fiscal years 2020-2023. Fair value measurements for U.S. Government Securities and Agency Investments are disclosed for fiscal years 2022 and 2023.

Why It Matters

For investors and stakeholders tracking AXCELIS TECHNOLOGIES INC, this filing contains several important signals. This amended filing provides updated and detailed financial information for the fiscal year 2023, which is crucial for investors to assess the company's financial health and performance. The inclusion of specific data points on deferred tax assets, allowances, and equity components allows for a more accurate understanding of the company's financial position and potential future tax liabilities or benefits.

Risk Assessment

Risk Level: low — AXCELIS TECHNOLOGIES INC shows low risk based on this filing. The filing is an amendment to a previous 10-K, indicating potential corrections or additions to previously reported information, but the content itself appears to be standard financial disclosures.

Analyst Insight

Review the specific financial data presented in the amended 10-K, particularly changes or additions related to deferred tax assets and allowances, to understand any nuances in the company's financial reporting.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-02-28 — Filing Date (Date of submission)
• 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
• 2023-12-31 (date) — Fiscal year end
• 2024-02-28 (date) — Filing date
• 0001113232 (company) — Central Index Key
• BEVERLY (location) — Business address city
• MA (location) — Business address state
• 01915 (location) — Business address zip
• 978-787-4000 (phone) — Business phone

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K/A filing.
• 2024-02-28: Filing Date — Date the amended 10-K was filed with the SEC.

Glossary

10-K/A

An amended annual report filed with the SEC to correct or supplement information in a previously filed 10-K. (Indicates that the filing contains updated or corrected financial and operational information for the fiscal year.)

Valuation Allowance of Deferred Tax Assets

An account used to reduce the carrying value of deferred tax assets when it is more likely than not that some portion or all of the deferred tax asset will not be realized. (Provides insight into the company's assessment of its ability to utilize future tax benefits.)

Key Financial Figures

• $0.001 — nding of the registrant's Common Stock, $0.001 par value, as of February 20, 2024: 32,
• $883.6 million — systems. Systems revenue accounted for $883.6 million of the Company's total revenue of $1.1
• $1.1 billion — llion of the Company's total revenue of $1.1 billion in 2023. Auditing management's recogni
• $306.5 m — ter The Company's inventories totaled $306.5 million, net, as of December 31, 2023. As

Filing Documents

• acls-20231231x10ka.htm (10-K/A) — 1991KB
• 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
• 0001558370-24-001969.txt (&nbsp;) — 11018KB
• acls-20231231.xsd (EX-101.SCH) — 67KB
• acls-20231231_cal.xml (EX-101.CAL) — 103KB
• acls-20231231_def.xml (EX-101.DEF) — 244KB
• acls-20231231_lab.xml (EX-101.LAB) — 665KB
• acls-20231231_pre.xml (EX-101.PRE) — 475KB
• acls-20231231x10ka_htm.xml (XML) — 2492KB

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data. Response to this Item is submitted as a separate section of this report immediately following Item 16.

Controls and Procedures

Item 9A. Controls and Procedures. Evaluation of Disclosure Controls and Procedures. Our management, with the participation of our principal executive officer and principal financial officer, has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) as of the end of the period covered by this Annual Report on Form 10-K (the "Evaluation Date"). Based on this evaluation, our principal executive officer and principal financial officer concluded that, as of the Evaluation Date, these disclosure controls and procedures are effective. Internal Control over Financial Reporting Management's Annual Report on Internal Control over Financial Reporting Management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rule 13a-15(f) under the Exchange Act. Because of its inherent limitations, internal control over financial reporting may not prevent or detect all misstatements. A control system, no matter how well designed and operated, can provide only reasonable assurance with respect to financial statement preparation and presentation. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Management assessed the effectiveness of our internal control over financial reporting as of December 31, 2023. In making this assessment, management used the criteria set forth in the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") Internal Control—2013 Integrated Framework. Based on this assessment, management has concluded that, as of December 31, 2023, our internal control over financial reporting is effective based on those criteria. The independent registered public accountin

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules. (a) The following documents are filed as part of this Report: 1) Financial Statements: Report of Independent Registered Public Accounting Firm (PCAOB ID: 42 ) 5 Consolidated Statements of Operations — For the years ended December 31, 2023, 2022 and 2021 7 Consolidated Statements of Comprehensive Income — For the years ended December 31, 2023, 2022 and 2021 8 Consolidated Balance Sheets — December 31, 2023 and 2022 9 Consolidated Statements of Stockholders' Equity — For the years ended December 31, 2023, 2022 and 2021 10 Consolidated Statements of Cash Flows — For the years ended December 31, 2023, 2022 and 2021 11

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 12 2) Financial Statement Schedules: Schedule II—Valuation and Qualifying Accounts for the years ended December 31, 2023, 2022 and 2021. 3) Exhibits The exhibits filed as part of this Annual Report on Form 10-K are listed on the Exhibit Index immediately preceding the signature page, which Exhibit Index is incorporated herein by reference. All other schedules for which provision is made in the applicable regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. 4 Report of Independent Registered Public Accounting Firm To the Stockholders and the Board of Directors of Axcelis Technologies, Inc. Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Axcelis Technologies, Inc. (the Company) as of December 31, 2023 and 2022, the related consolidated statements of operations, comprehensive income, stockholders' equity and cash flows for each of the three years in the period ended December 31, 2023, and the related notes and financial statement schedule listed in the Index at Item 15(a) (collectively referred to as the "consolidated financial statements"). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2023, in conformity with U.S. generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of December 31, 2023, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework), a

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View this 10-K/A filing on SEC EDGAR