Axcelis Technologies beats Q2 expectations, raises full-year outlook

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Axcelis Technologies exceeded second-quarter expectations with $215 million in revenue and non-GAAP earnings per share of $1.06, prompting the company to raise its full-year outlook to mid-single-digit revenue growth. Growth in power and mature-node markets offset weaker memory revenue, while the customer service and support business benefited from a larger installed base and stronger equipment utilization. China accounted for 46% of quarterly revenue, and backlog stood at $452 million. Axcelis expects third-quarter revenue of approximately $230 million and sees improving demand through 2027, particularly in memory, silicon carbide and mature-node applications. The pending Veeco merger remains on track to close in the second half of 2026, subject to regulatory approvals.

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