Key Highlights

● Fiscal third-quarter Revenue was $22.4 million, up 14.5% year on year.

● AI-related revenue rose about 120% year on year, according to management.

● Orders were $28.8 million and Backlog rose to $28.7 million from $22.3 million.

● Guy Shechter became chief executive on 13 August, with Bob Daigle as executive chairman.

The latest verified development

Amtech Systems, Inc. (NASDAQ:ASYS), a supplier of thermal processing and semiconductor fabrication equipment, announced on 5 August 2026 both its fiscal third-quarter results and a Leadership change. Guy Shechter became president and chief executive on 13 August, while Bob Daigle moved to the new role of executive chairman. The company also announced its participation in the LD Micro Investor Conference on 20 October 2026.

Fiscal third-quarter results

For the quarter ended 30 June 2026, revenue was $22.4 million, up 14.5% from $19.6 million. Thermal Processing Solutions revenue was about $17.7 million, up 24.9%, while Semiconductor Fabrication Solutions revenue was about $4.6 million, down 13.3% mainly because of weak silicon carbide demand. Management said AI-related revenue rose about 120% year on year.

Gross Margin was 50.0%, up from 46.7%, although the prior-year figure included a $1.0 million employee retention credit, and excluding it the earlier margin was 41.5%. GAAP Net Income was $1.7 million, or $0.10 per diluted share, and non-GAAP net income was $2.4 million, or $0.14 per diluted share. Adjusted EBITDA was $3.3 million, about 15% of revenue.

Over the first nine months of fiscal 2026, revenue was $61.8 million against $59.5 million a year earlier. GAAP net income was $2.9 million, compared with a $31.4 million loss that included Goodwill and intangible impairments and inventory write-downs. Adjusted EBITDA was $7.3 million against $2.7 million, so the improvement comes largely from margins and the absence of prior-year charges rather than revenue growth.

Orders, backlog and balance sheet

Orders were $28.8 million, compared with $21.1 million in the previous quarter and $21.7 million a year earlier. Backlog rose to $28.7 million from $22.3 million at 31 March. The thermal processing book-to-bill ratio was 1.37. Chief executive Bob Daigle, who held the role at the time, said Demand for advanced packaging and server board assembly equipment remains exceptionally strong.

Cash was $83.1 million at 30 June, including $56.5 million of net proceeds from a June public offering, compared with $24.4 million at 31 March. Shares outstanding rose to 17.5 million from 14.4 million at 30 September 2025, reflecting the offering and other issuance.

Leadership change

Mr Shechter joined Amtech in May 2026 as president and chief operating officer. He previously led Yield Engineering Systems from 2021 to 2026 and held several roles at Veeco Instruments (NASDAQ:VECO) between 2007 and 2020. Mr Daigle, who had served as chief executive since 2023, will support Long-term Growth and Capital allocation, including acquisitions and partnerships. The board has six members, four of them independent.

Amtech fourth-quarter guidance and new leadership priorities

For the fiscal fourth quarter ending 30 September 2026, Amtech guided to revenue of $22.5 million to $24.0 million and an adjusted EBITDA margin in the low to mid teens, labelled preliminary. At the midpoint, revenue would be about 4% above the third quarter.

The fourth-quarter guide of $22.5 million to $24.0 million depends on a $28.7 million backlog and on Guy Shechter, who became chief executive on 13 August.