Axcelis Technologies (ACLS) Q3 FY2026 earnings: revenue $238 million, up 11.3% on the year

Axcelis Technologies Inc. (ACLS) reported revenue of $238 million for Q3 FY2026, the quarter ended 30 September 2026, up 11.3% on the same quarter a year earlier. Net income was $38 million, up 45.3% on the year, and diluted earnings per share $1.21. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$238 million

+11.3% on the year · +10.5% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

11.5%

11.7% a year earlier

Q4 FY2024Q3 FY2026

Net income

$38 million

+45.3% on the year · +62.1% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$1.21

+45.8% on the year · +61.3% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 6 new.

Revenue rose from second quarter: Revenue was $237.8 million, up from $215.2 million in the second quarter of 2026 and $213.6 million in the third quarter of 2025. The company reported growth in systems revenue.
Net income and diluted EPS rose: GAAP net income was $37.8 million against $26.0 million. GAAP diluted EPS was $1.21 against $0.83, and non-GAAP diluted EPS was $1.26 against $1.21.
Bookings rose on broader recovery: Management reported an increase in bookings reflecting a broadening recovery across end markets. Memory momentum continued, with rising activity in Power and General Mature.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	238	215	214	+10.5%	+11.3%
Cost of revenue	140	124	125	+13.2%	+12.5%
Gross profit	97.4	91.2	88.8	+6.8%	+9.7%
Gross margin	41.0%	42.4%	41.6%
Research and development	30.2	29.0	24.6	+4.1%	+22.5%
Operating income	27.3	20.3	25.0	+34.8%	+9.3%
Operating margin	11.5%	9.4%	11.7%
Interest expense	2.0	1.3	1.3	+55.2%	+50.2%
Pre-tax income	36.0	25.3	30.1	+42.1%	+19.4%
Income tax	-1.8	2.1	4.2
Effective tax rate	-4.9%	8.1%	13.8%
Net income	37.8	23.3	26.0	+62.1%	+45.3%
Net margin	15.9%	10.8%	12.2%
Diluted EPS	$1.21	$0.75	$0.83	+61.3%	+45.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	40.2	18.4	45.4	+118.9%	-11.3%
Capital expenditure	2.5	3.6	2.0	-29.5%	+24.3%
Free cash flow	37.7	14.8	43.3	+154.5%	-13.0%
Free cash flow margin	15.9%	6.9%	20.3%
Cash from investing	-6.1	-6.1	1.4
Cash from financing	-0.6	-7.9	-32.8
Depreciation and amortisation	4.5	4.4	4.3	+2.3%	+4.7%
Share-based compensation	6.5	6.4	5.3	+1.6%	+22.6%
Buybacks	0.0	n/a	32.3
Diluted shares, weighted	31m	31m	31m	-0.1%	-1.1%
Shares outstanding at period end	31m	31m	31m	+0.0%	-0.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	1,113	1,066	1,020	+4.4%	+9.1%
Debt	0.0	0.0	0.0
Operating lease liabilities	24.3	23.6	25.2	+2.9%	-3.8%
Finance lease liabilities	39.4	39.8	41.2	-1.2%	-4.4%
Other liabilities	301	258	265	+16.7%	+13.3%
Total liabilities and equity	1,478	1,387	1,352	+6.5%	+9.3%
Fixed assets	59.5	58.0	58.0	+2.5%	+2.6%
Investments	425	422	405	+0.6%	+4.8%
Cash and equivalents	191	155	188	+23.1%	+1.7%
Receivables	155	154	148	+0.4%	+4.8%
Inventory	376	338	324	+11.3%	+16.0%
Other assets	272	259	229	+4.7%	+18.5%
Total assets	1,478	1,387	1,352	+6.5%	+9.3%

Questions

What was Axcelis Technologies' revenue in Q3 FY2026?

Axcelis Technologies (ACLS) reported revenue of $238 million for Q3 FY2026, the quarter ended 30 September 2026, up 11.3% on the same quarter a year earlier.

How much did Axcelis Technologies earn in Q3 FY2026?

Net income for Q3 FY2026 was $38 million, up 45.3% on the year, and diluted earnings per share $1.21.

When did Axcelis Technologies report Q3 FY2026 results?

Axcelis Technologies filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	206	204	221	229	266	254	274	292	310	252	257	257	252	193	195	214	238	199	215	238
Cost of revenue	116	114	122	126	157	150	154	163	172	136	144	147	136	104	107	125	126	118	124	140
Gross profit	89.5	89.8	99.2	103	110	104	120	130	138	116	112	110	116	88.8	87.3	88.8	112	80.6	91.2	97.4
Gross margin	44%	44%	45%	45%	41%	41%	44%	44%	44%	46%	44%	43%	46%	46%	45%	42%	47%	41%	42%	41%
R&D	16.4	17.0	18.7	20.6	22.1	23.8	24.1	24.1	24.9	25.7	25.8	26.4	27.7	27.1	27.1	24.6	30.1	28.5	29.0	30.2
Operating income	46.6	48.9	54.1	53.2	56.1	51.4	63.7	71.7	79.0	56.5	52.8	46.9	54.5	29.2	29.0	25.0	36.2	8.0	20.3	27.3
Operating margin	23%	24%	24%	23%	21%	20%	23%	25%	25%	22%	21%	18%	22%	15%	15%	12%	15%	4%	9%	11%
Interest expense	1.3	1.5	1.2	1.3	1.5	1.4	1.3	1.3	1.3	1.3	1.3	1.3	1.4	1.4	1.4	1.3	1.3	1.3	1.3	2.0
Pre-tax income	45.3	45.9	48.2	45.0	65.8	52.9	64.6	73.7	87.4	59.0	57.3	55.4	58.6	33.1	35.0	30.1	40.0	10.6	25.3	36.0
Tax rate	21%	9%	8%	11%	13%	10%	5%	11%	19%	13%	11%	12%	15%	14%	10%	14%	14%	13%	8%	-5%
Net income	35.7	41.6	44.2	40.3	57.0	47.7	61.6	65.9	71.1	51.6	50.9	48.6	50.0	28.6	31.4	26.0	34.3	9.2	23.3	37.8
Net margin	17%	20%	20%	18%	21%	19%	22%	23%	23%	20%	20%	19%	20%	15%	16%	12%	14%	5%	11%	16%
Diluted EPS	$1.04	$1.22	$1.32	$1.21	$1.71	$1.43	$1.86	$1.99	$2.15	$1.57	$1.55	$1.49	$1.54	$0.88	$0.98	$0.83	$1.10	$0.30	$0.75	$1.21
Operating cash flow	38.1	25.8	3.5	64.0	122	34.6	32.7	24.0	65.6	42.2	40.1	45.7	12.8	39.8	39.7	45.4	-6.6	18.1	18.4	40.2
Capital expenditure	3.0	1.5	1.9	3.5	3.8	2.2	3.0	5.3	10.2	1.6	2.0	3.9	4.7	5.0	2.0	2.0	2.3	1.8	3.6	2.5
Free cash flow	35.1	24.3	1.6	60.5	119	32.3	29.8	18.7	55.4	40.6	38.1	41.8	8.1	34.8	37.7	43.3	-8.9	16.3	14.8	37.7
Buybacks	12.5	20.0	12.5	12.5	12.5	12.5	12.5	12.5	15.0	15.0	15.0	15.4	15.1	18.2	45.3	32.3	25.2	n/a	n/a	0.0
Shares outstanding	33m	33m	33m	33m	33m	33m	33m	33m	33m	33m	33m	33m	32m	32m	31m	31m	31m	31m	31m	31m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.