Axcelis Technologies (ACLS) Announces Preliminary Financial Results for Second Quarter 2024

Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the semiconductor industry, today announced preliminary financial results for the second quarter of 2024. The Company now expects revenue to be greater than $252 million, and diluted earnings per share to be greater than $1.38, compared to the Company's previously issued revenue guidance of $245 million and diluted earnings per share of $1.30. In addition, the Company continues to expect second half performance to be stronger than the first half, slightly weighted towards the fourth quarter.

(Consensus sees Q2 EPS of $1.30 on revenue of $245 million)

These preliminary financial results are management's estimates and are subject to revision in the course of completing quarterly review processes. Final results for the quarter will be publicly reported by the Company on July 31, 2024, prior to a Form 10-Q filing for the quarter with full financial statements.

President and CEO Russell Low commented, "We delivered a solid quarter as chipmakers across the globe continue to rely on Axcelis' Purion platform to support their operations. Systems revenue was better than we anticipated, partly due to better conversion of evaluation systems to revenue. The fundamentals supporting Axcelis' growth remain strong, and we look forward to discussing our market opportunities, growth strategy and long-term financial targets at Axcelis' upcoming 2024 Investor Event."

The Axcelis 2024 Investor Event will be held on July 11, 2024, at the St. Regis Hotel in San Francisco, from 8:00 a.m. PT to 11:00 a.m. PT, with presentations expected to begin at 9:00 a.m. PT. All executive officers will be in attendance. For those that are unable to attend in person, there will also be a live webcast available. More information on the event can be found here: https://investorday.axcelis.com/

Axcelis is also scheduled to participate in the 16th Annual CEO Investor Summit 2024, being held Wednesday, July 10th at the St. Regis Hotel, San Francisco, CA. The presentation material utilized during the CEO Summit will be made accessible on the investor page of the company's website at www.axcelis.com.

Investor Event In Person Registration:
Members of the professional investment community who wish to attend the event can register here: https://edge.media-server.com/mmc/p/d92atyon/

Investor Event Live Webcast Registration:
The Axcelis 2024 Investor Event will also be available to interested listeners via an audio webcast that can be accessed through the Investors page of Axcelis' website at https://edge.media-server.com/mmc/p/45fke3o9/, or by registering as a Participant here:
https://register.vevent.com/register/BI71138038c4e548c4a9839fd2e60f2a97.
Webcast replays will be available for 30 days following the call.

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