Q1 revenues of $121.7 million; Expects over 25% revenue growth in 2H26 versus 1H26 based on strong order momentum

Q2 revenue guidance of $129-131 million

MIGDAL HAEMEK, Israel, May 12, 2026 /PRNewswire/ — Camtek Ltd. (NASDAQ: CAMT) (TASE: CAMT), today announced its financial results for the first quarter ended March 31, 2026.

2026 First Quarter Financial Highlights

Revenues of $121.7 million, a slight year-over-year increase;GAAP gross margin of 50.1% and non-GAAP gross margin of 51.0%;GAAP operating income of $27.3 million and non-GAAP operating income of $31.1 million, representing operating margins of 22.4% and 25.5%, respectively; andGAAP net income of $31.6 million and non-GAAP net income of $35.3 million; GAAP diluted EPS of $0.63 and non-GAAP diluted EPS of $0.70.

Forward-Looking Expectations

Based on Camtek’s backlog and pipeline, guidance for the second quarter is for revenues between $129 million and $131 million. Expects a significant increase in second half 2026 with revenues expected to grow by over 25% versus first half 2026 revenues.

Management Comment

Rafi Amit, Camtek’s CEO commented, “I’m pleased to share that we have experienced an unprecedented start to the year in terms of incoming orders. This exceptional demand has substantially improved our confidence regarding the results over the remainder of 2026 and provides us with a strong foundation as we already start to look ahead into 2027.”

Continued Mr. Amit, “Camtek continues to invest heavily in innovation in advanced AI-based algorithms and software capabilities. Leveraging our dedicated AI expert team and our strategic collaboration with Visual Layer whose acquisition we recently closed, we have developed additional cutting-edge capabilities in detection, metrology, and classification. These new capabilities are already demonstrating breakthrough performance, and we believe will further strengthen our competitive edge.”

Mr. Amit concluded, “Based on the strong market demand we have experienced, we expect a surge in revenues in the second half of 2026, with revenues expected to grow by over 25% compared with the first half.”

First Quarter 2026 Financial Results 

Revenues for the first quarter of 2026 were $121.7 million. This compares to first quarter 2025 revenues of $118.6 million, representing a year-over-year growth of 2.5%.

Gross profit on a GAAP basis in the quarter totaled $60.9 million (50.1% of revenues), similar to a gross profit of $60.6 million (51.0% of revenues) in the first quarter of 2025.

Gross profit on a non-GAAP basis in the quarter totaled $61.9 million (51.0% of revenues), similar to a gross profit of $61.8 million (52.1% of revenues) in the first quarter of 2025.

Operating income on a GAAP basis in the quarter totaled $27.3 million (22.4% of revenues), a decrease of 17% compared to an operating income of $32.7 million (27.6% of revenues) in the first quarter of 2025.

Operating income on a non-GAAP basis in the quarter totaled $31.1 million (25.5% of revenues), a decrease of 17% compared to $37.3 million (31.5% of revenues) in the first quarter of 2025.

Net income on a GAAP basis in the quarter totaled $31.6 million, or $0.63 per diluted share, a decrease of 8% compared to net income of $34.3 million, or $0.70 per diluted share, in the first quarter of 2025.

Net income on a non-GAAP basis in the quarter totaled $35.3 million, or $0.70 per diluted share, a decrease of 9% compared to a non-GAAP net income of $38.7 million, or $0.79 per diluted share, in the first quarter of 2025. 

Cash and cash equivalents, short-term and long-term deposits, and marketable securities, as of March 31, 2026, were $849.7 million compared to $851.1 million as of December 31, 2025, and $522.6 million as of March 31, 2025. During the first quarter, the Company generated an operating cash flow of $3.1 million.

Conference Call

Camtek will host a video conference call/webinar today via Zoom, on May 12, 2026, at 09:00 ET (16:00 Israel time). Rafi Amit, CEO, Moshe Eisenberg, CFO, and Ramy Langer, COO will host the call and will be available to answer questions after presenting the results.

To participate in the webinar, please register using the following link, which will provide access to the video call: https://us06web.zoom.us/webinar/register/WN_Ny2_wROuSXmYAH3JpArfaA

For those wishing to listen via phone, following registration, the dial in link will be sent. For any problems in registering, please email Camtek’s investor relations a few hours in advance of the call.

For those unable to participate, a recording will be available on Camtek’s website at http://www.camtek.com within a few hours after the call.

A summary presentation of the quarterly results will also be available on Camtek’s website. 

ABOUT CAMTEK LTD.

Camtek is a developer and manufacturer of high-end inspection and metrology equipment for the semiconductor industry. Camtek’s systems inspect IC and measure IC features on wafers throughout the production process of semiconductor devices, covering the front and mid-end and up to the beginning of assembly (Post Dicing). Camtek’s systems inspect wafers for the most demanding semiconductor market segments, including Advanced Interconnect Packaging, Heterogeneous Integration, Memory and HBM, CMOS Image Sensors, Compound Semiconductors, MEMS, and RF, serving numerous industries’ leading global IDMs, OSATs, and foundries.

With manufacturing facilities in Israel and Germany, and eight offices around the world, Camtek provides state-of-the-art solutions in line with customers’ requirements.

This press release is available at http://www.camtek.com

This press release contains statements that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on Camtek’s current beliefs, expectations and assumptions about its business and industry, all of which may change. Forward-looking statements can be identified by the use of words including “believe,” “anticipate,” “should,” “intend,” “plan,” “will,” “may,” “expect,” “estimate,” “project,” “positioned,” “strategy,” and similar expressions that are intended to identify forward-looking statements, including our expectations and statements relating to our future earnings and guidance, the compound semiconductors market and our position in this market. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Camtek to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause our actual results to differ materially from those contained in the forward-looking statements include, but are not limited to, risks related to the ongoing hostilities in the Middle East; the impact of disruptions to global shipment and supply chain, including but not limited to increased risk and disruption around the Strait of Hormuz, and broader impacts on energy and freight markets; the continued demand and future contribution of HBM and Chiplet applications and devices to the Company business resulting from, among other things, the field of AI surging worldwide across companies, industries and nations; formal or informal imposition by countries of new or revised export and/or import and doing-business regulations or sanctions, including but not limited to changes in U.S. trade policies, changes or uncertainty related to the U.S. government entity list and changes in the ability to sell products incorporating U.S originated technology, which can be made without prior notice, and our ability to effectively address such global trade issues and changes; risks related to fluctuations in foreign currency exchange rates; and those other factors discussed in our Annual Report on Form 20-F as published on March 19, 2026, as well as other documents filed by the Company with the SEC as well as other documents that may be subsequently filed by Camtek from time to time with the Securities and Exchange Commission. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Camtek does not assume any obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release unless required by law.

While we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. In addition, any forward-looking statements represent Camtek’s views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Camtek does not assume any obligation to update any forward-looking statements unless required by law.

This press release provides financial measures that exclude: (i) share based compensation expenses; and (ii) acquisition related expenses and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when evaluating the business internally and therefore felt it is important to make these non-GAAP adjustments available to investors. A reconciliation between the GAAP and non-GAAP results appears in the tables at the end of this press release. The results reported in this press-release are preliminary unaudited results, and investors should be aware of possible discrepancies between these results and the audited results to be reported, due to various factors.

(1) During the three-month period ended March 31, 2026, the Company recorded acquisition-related expenses of $0.5 million, consisting of: (1) $0.6 million amortization of intangible assets acquired recorded under cost of revenues line item. (2) $0.1 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (3) $0.2 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.

During the three-month period ended March 31, 2025, the Company recorded acquisition-related expenses of $0.6 million, consisting of: (1) $0.6 million amortization of intangible assets acquired recorded under cost of revenues line item. (2) $0.3 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (3) $0.3 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.

During the year ended December 31, 2025, the Company recorded acquisition-related expenses of $2.8 million, consisting of: (1) inventory written-up to fair value in purchase accounting charges of $0.5 million. This amount is recorded under cost of revenues line item. (2) $2.4 million amortization of intangible assets acquired recorded under cost of revenues line item. (3) $1.1 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $1.2 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.

(2) During the year ended December 31, 2025, the Company recorded a loss of $88.7 million, consisting of: (1) $100.9 million from the extinguishment of Capital Notes recorded under the other expenses line item.  (2) $12.3 million tax benefit recorded under the income tax benefit line item.

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SOURCE Camtek Ltd.

New “State of Access” Campaign Ranks All 50 States, Washington, D.C., and Puerto Rico on Rights and Protections for Service Dog Handlers

MORRISTOWN, N.J., May 12, 2026 /PRNewswire/ — The Seeing Eye, the nation’s first and most recognized guide dog school, today released the State of Access Report Card, a first-of-its-kind, data-driven ranking of every U.S. state, Washington, D.C. and Puerto Rico on how well they protect the rights of people who work with service dogs to travel independently and live without compromising their freedom. The report card grades each jurisdiction in five subjects, combining legal analysis, government transparency data, enforcement and real-world handler experiences. Their scores are then used to rank them from 1 to 52, offering a comprehensive public accounting of service dog access protections.

California earned the top ranking and an overall grade of A-. Only one other state, Alaska, earned an A grade. Approximately 30 percent of all jurisdictions received a D or F, meaning nearly one in three service dog handlers live in a state with critically inadequate protection.

“People who are blind deserve to move through the world independently and with confidence, and a Seeing Eye dog is a powerful partner in that goal,” said Karen Leies, President and CEO of The Seeing Eye. “However, the data we collected reveals serious and persistent gaps in protections not only for guide dog handlers, but for all types of service dog teams across the country. This report card is our call to greater public education and action.”

The Seeing Eye State of Access Report Card is designed to be a resource for everyone with a stake in service dog handlers’ rights. This includes handlers navigating their daily lives, advocates pushing for stronger protection, and lawmakers with the power to close the gaps this data reveals. This report establishes a baseline as the first comprehensive, state-by-state measure of service dog handlers’ rights, designed to be updated and built upon in the years ahead.

AN UPDATED TOOL FOR SELF-ADVOCACY

Alongside the report card launch, The Seeing Eye is spotlighting the release of its updated Advocacy App, which gives users instant mobile access to federal and state laws. With the most recent update, users can now look up the process for filing a civil rights complaint in their state. Whether you’re a handler, business owner, service provider, or policymaker, the app provides important information about your rights and responsibilities.

“We hope that the data presented in The Seeing Eye advocacy app, as well as the State of Access Report Card, provide a clear picture of where each state stands and a roadmap for progress,” Leies continued. “The Seeing Eye’s Advocacy and Government Relations team is standing by to assist lawmakers and community leaders with making positive changes in their communities.”

STATE OF ACCESS REPORT CARD: KEY FINDINGS

“It’s important to highlight that even in states that received the worst grades, the lived experience scores from service dog handlers who live there could still be quite high,” said Melissa Allman, Senior Specialist of Advocacy and Government Relations. Allman is an architect of the Seeing Eye advocacy app and a contributor to the State of Access report card. “This should be encouraging to those with service dogs, even if they live in a state with a poor grade. It tells us that strong communities, informed handlers, and engaged advocates can make a real difference, even where the law hasn’t caught up yet.”

Significant Gaps at the State Level

Just 14 jurisdictions earned a B grade or higher, meaning fewer than 1 in 4 service dog handlers live in a state with strong, comprehensive protections.

Approximately 30 percent of all ranked jurisdictions (16 of 52) received a D or F, signaling critically weak protection across a large swath of the country.

Five jurisdictions received a failing grade (Alabama, Georgia, Mississippi, Puerto Rico and Wyoming) for lacking state-level complaint processes, public education initiatives, or meaningful legal protections beyond federal minimums.

Public awareness and outreach were among the lowest-performing areas, with fewer than a quarter of jurisdictions earning an A or B grade.

More than half (54 percent) of service dog handlers reported rideshare and taxi denials over a 12-month period.

Nearly 40 percent of service dog handlers reported that they had encountered access barriers in the last 12 months.

Bright Spots

Most states have established infrastructure for addressing civil rights complaints – 42 states and Washington, D.C. have a state-level process in place.

On the legal front, there is a foundation to build on as 37 states earned a C+ or better for the strength of their laws and protections beyond the federal minimum.

Lived experience had the most A grades (37 percent of jurisdictions) among the five scoring categories and did not always align with overall scores. Mississippi and Wyoming, for example, both received an A+ in lived experience despite earning an overall grade of F and ranking 51st and 48th nationally.

71 percent of service dog handlers rated their state as good or excellent when asked to rate their overall experiences with public places, transportation, and services respecting their legal rights.

When asked to describe the culture of their state with regards to the acceptance and understanding of their legal rights, 59 percent of service dog handlers felt generally positive, and just 5 percent reported feeling excluded.

Nearly 75 percent of service dog handlers reported interstate travel, demonstrating that access barriers aren’t keeping them home and signaling a clear demand for stronger, more consistent protections and enforcement.

HOW STATES WERE GRADED

Each state, Washington, D.C., and Puerto Rico were evaluated across five categories and ranked based on their total scores.

Strength and Scope of State-Level Laws: Does the state go beyond federal law to protect service dog handlers? Scoring assessed nine categories, including whether states criminalize access denials, have pedestrian safety laws, and have enacted service animal fraud statutes.Complaint and Enforcement Process: Can a service dog handler actually use their state’s complaint system to seek relief? Scoring assessed how state-level protections are addressed and whether the filing process is easy to find and initiate.Public Awareness and Outreach: Has the state proactively educated businesses and the public about guide dog access rights? Scoring recognizes states that publish materials, address service animal fraud, provide links to resources, and actively promote training opportunities.Public Data and Transparency: Does the state publish data on complaints and enforcement actions? Are service animals specifically addressed? Is the data current?Lived Experience: More than 522 service dog handlers from each of the 52 jurisdictions completed a survey on access barriers, quality of experience in their state, rights awareness, and the cultural climate toward service dog teams. Grades reflect normalized composite data adjusted for sample size.

WHERE TO FIND THE DATA

The full State of Access Report Card, including each state’s overall letter grade, national ranking, and grades across all five categories, is available at www.seeingeye.org/stateofaccess.

ABOUT THE SEEING EYE

Established in 1929, The Seeing Eye provides specially bred and trained dogs to guide people who are blind. Seeing Eye dog handlers experience greatly enhanced mobility and independence, allowing them to retain their active lifestyles. The Seeing Eye is a 501(c)(3) non-profit supported by contributions from individuals, corporations and foundations, bequests, and other planned gifts.

The Seeing Eye is a trademarked name and can only be used to describe the dogs bred and trained at the school’s facilities in Morristown, N.J. If you would like more information on The Seeing Eye, please visit the website at www.seeingeye.org, call 973-539-4425, or email info@seeingeye.org.

Note to editors: “Seeing Eye®” is a registered trademark. Dogs trained by other organizations are referred to as guide dogs. Preferred language: “people who are blind,” “people with vision loss,” “Seeing Eye® dog handlers.” Phrases to avoid: “the blind,” “suffers from blindness,” “visually challenged.”

Contact: Ronica Cleary
302-414-9977, Media@ClearyStrategies.com

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SOURCE The Seeing Eye

SAN JOSE, Calif., May 12, 2026 /PRNewswire/ — eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today announced that, following a thorough review with the support of its financial and legal advisors, the company’s Board of Directors has determined to reject GameStop’s unsolicited, non-binding acquisition proposal.

The full text of the eBay Board’s response letter to GameStop CEO, Ryan Cohen, is set forth below:

Dear Mr. Cohen,

The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it.

We have concluded that your proposal is neither credible nor attractive. We have taken into account such factors as 1) eBay’s standalone prospects, 2) the uncertainty regarding your financing proposal, 3) the impact of your proposal on eBay’s long-term growth and profitability, 4) the leverage, operational risks, and leadership structure of a combined entity, 5) the resulting implications of these factors on valuation, and 6) GameStop’s governance and executive incentives.

eBay is a strong, resilient business that has delivered meaningful results over the past several years. We have sharpened our strategic focus, strengthened execution, enhanced our marketplace and seller experience, and consistently returned capital to shareholders. With its differentiated global marketplace and a clear strategy, eBay’s Board is confident that the company, under its current management team, is well-positioned to continue to drive sustainable growth, execute with discipline, and deliver long-term value for our shareholders.

Our team remains focused on executing our strategy and driving our business forward in the best interests of the company, our shareholders, our employees, and millions of buyers and sellers around the world.

Sincerely,

/s/ Paul S. Pressler

Paul S. Pressler
Chairman of the Board of Directors, eBay

About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world’s largest and most vibrant marketplaces for discovering great value and unique selection. In 2025, eBay enabled nearly $80 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

Forward-Looking Statements
This press release contains forward-looking statements relating to, among other things, the future performance of eBay Inc. and its consolidated subsidiaries that are based on the company’s current expectations, forecasts and assumptions and involves risks and uncertainties. These statements include, but are not limited to, management’s vision for the future of eBay and our ability to accomplish our vision, the future growth in our business, our ability to drive sustainable long-term growth and create lasting value for our shareholders, the impact of current and contemplated strategic initiatives and offerings, partnerships with and acquisitions of other companies, and new and updated product features or programs, including the initiatives, offerings, partnerships, acquisitions, features and programs discussed in our earnings press release for the first quarter 2026, the effects of foreign currency volatility and our ability to respond to such effects, operating efficiency and margins, and dividends and share repurchases. In some cases, forward-looking statements can be identified by terms such as “aim,” “anticipate,” “believe,” “commit,” “consider,” “continue,” “could,” “design,” “develop,” “enable,” “estimate,” “expect,” “forecast,” “future,” “goal,” “impact,” “intend,” “likely,” “maintain,” “may,” “ongoing,” “opportunity,” “optimistic,” “outlook,” “plan,” “possible,” “potential,” “predict,” “probable,” “pursue,” “remain,” “seek,” “should,” “strategy,” “strive,” “target,” “value,” “will,” “would,” or similar expressions, variations and derivative forms and/or the negatives of those words.  Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that eBay expects. These and other risks and uncertainties include market risks, trends and conditions. These and other risks and uncertainties are more fully described in eBay’s filings with the Securities and Exchange Commission, including in the risk factors included in eBay’s Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent reports that eBay files with the Securities and Exchange Commission. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements represent beliefs and assumptions of eBay only as of the date of this press release. eBay does not intend to update, and expressly disclaims any obligation to update, any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations, except as required by law.

Investor Relations Contact:
John Egbert
ir@ebay.com

Media Relations Contact:
Sybille St. Arromand
press@ebay.com

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SOURCE ebay Inc.