Axcelis Technologies (ACLS) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Axcelis Technologies published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Axcelis Technologies reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Axcelis has one reportable segment. The systems and aftermarket split above is from its 10-Q. Its release calls the aftermarket business CS&I.
• Axcelis agreed on September 30, 2025 to merge with Veeco Instruments, with each Veeco share to be converted into 0.3575 Axcelis shares. The 10-Q says China's SAMR antitrust clearance is the only approval outstanding and the companies expect to close by the first quarter of 2027.

Source: Axcelis Technologies Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Axcelis Technologies splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Axcelis Technologies's Systems revenue was $145 million in Q3 2026, up 1% from $144 million in Q3 2025, 61% of total revenue.
• Axcelis Technologies's Aftermarket revenue was $92.6 million in Q3 2026, up 32% from $69.9 million in Q3 2025, 39% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Axcelis Technologies said:

“For the fourth quarter ending December 31, 2026, Axcelis expects revenues of approximately $275 million, GAAP earnings per diluted share of approximately $1.15, and non-GAAP earnings per share of approximately $1.50.”

Source: Axcelis Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ACLS forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Axcelis Technologies's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

Axcelis Technologies makes ion implantation systems, the equipment chipmakers use to implant ions into wafers. Its revenue was $237.8 million in Q3 2026, up from $213.6 million a year earlier. Systems sales were $145.2 million, against $143.7 million, and the aftermarket business (spare parts, service, upgrades and used equipment, which Axcelis calls CS&I in its release) was $92.6 million, up from $69.9 million and a quarterly record. (Axcelis Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026; Axcelis Technologies Form 10-Q for the quarter ended September 30, 2026, Nov 5, 2026)

Axcelis says aftermarket revenue moves with capacity utilization at customers' fabs, while systems revenue follows customers' capital spending. Over the first nine months of 2026, mature process chips took 77% of shipped systems revenue (power devices 40% and general mature 37%), DRAM 20%, NAND 1% and advanced logic 1%. (Axcelis Technologies Form 10-Q for the quarter ended September 30, 2026, Nov 5, 2026)

Most of Axcelis's sales ship to Asia. Asia Pacific revenue was $179.0 million in the quarter, against $31.1 million in North America and $27.6 million in Europe. Two customers accounted for 16.9% and 11.1% of Q3 2026 revenue, against one customer at 11.9% a year earlier. (Axcelis Technologies Form 10-Q for the quarter ended September 30, 2026, Nov 5, 2026)

Gross margin was 41.0%, down from 41.6%. The 10-Q puts the drop down to a stronger South Korean won, where Axcelis manufactures for Asian customers, and a higher mix of lower-margin systems, partly offset by more higher-margin aftermarket revenue. CEO Russell Low pointed to a strong increase in bookings, with momentum in Memory and more activity in Power and General Mature. (Axcelis Technologies Form 10-Q for the quarter ended September 30, 2026, Nov 5, 2026; Axcelis Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Axcelis Technologies earned $37.8 million in Q3 2026, or $1.21 per diluted share, against $26.0 million, or $0.83, a year earlier. Non-GAAP diluted EPS was $1.26, up from $1.21. (Axcelis Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

To reach non-GAAP EPS, Axcelis excluded $0.16 of transaction and integration costs for the Veeco merger and $0.21 of stock-based compensation, but also removed a $0.30 benefit from discrete tax items. That benefit came from reversing uncertain tax positions after an audit settled, which turned the quarter's income tax line into a $1.8 million benefit and the effective tax rate to (4.9)%, against 13.8% a year earlier. (Axcelis Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026; Axcelis Technologies Form 10-Q for the quarter ended September 30, 2026, Nov 5, 2026)

Diluted weighted average shares fell to 31,105 thousand from 31,450 thousand. Axcelis bought back no stock in Q3 2026, against $32.3 million of repurchases in Q3 2025, and the 10-Q shows $110 million available under its repurchase authorization. (Axcelis Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026; Axcelis Technologies Form 10-Q for the quarter ended September 30, 2026, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Axcelis Technologies gives a one-quarter outlook in its release. For Q4 2026 it expects revenue of about $275 million, GAAP EPS of about $1.15 and non-GAAP EPS of about $1.50. CEO Russell Low said Axcelis expects to finish 2026 with positive momentum and anticipates further growth in 2027. (Axcelis Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

The pending merger with Veeco Instruments now awaits only China's SAMR antitrust clearance, and Axcelis and Veeco expect it to close by the first quarter of 2027. Axcelis also started building a new manufacturing plant of about 200,000 square feet in Pyeongtaek, South Korea, in October 2026, with operations planned for 2028. (Axcelis Technologies Form 10-Q for the quarter ended September 30, 2026, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Axcelis Technologies, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Axcelis Technologies's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ACLS is on is ACLS a buy or a sell?, what analysts expect next is on the ACLS forecast, and what the company does is on the Axcelis Technologies (ACLS) stock page.

Every number on this page can be traced to a document Axcelis Technologies published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.