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Axcelis Announces Financial Results for Fourth Quarter and Full Year 2024

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Q4 Highlights:

Revenue of $252.4 millionOperating Margin of 21.6%Diluted earnings per share of $1.54

BEVERLY, Mass., Feb. 10, 2025 /PRNewswire/ — Axcelis Technologies, Inc. (Nasdaq: ACLS) today announced financial results for the fourth quarter and full year ended December 31, 2024.

For the full year 2024, the Company reported revenue of $1.02 billion, compared with $1.13 billion for the full year 2023. Systems revenue for the year was $782.6 million, compared to $883.6 million in 2023. Operating profit was $210.8 million in 2024, compared to $265.8 million in 2023. Net income for the year was $201 million with diluted earnings per share of $6.15, compared to net income of $246.3 million and diluted earnings per share of $7.43 in 2023. Gross margin for the year was 44.7%, compared to 43.5% in 2023.

The Company reported fourth quarter revenue of $252.4 million, compared to $256.6 million for the third quarter of 2024. Gross margin for the quarter was 46.0%, compared to 42.9% in the third quarter. Operating profit for the quarter was $54.5 million, compared to $46.9 million for the third quarter. Net income for the quarter was $50 million, or $1.54 per diluted share, compared to $48.6 million, or $1.49 per diluted share in the third quarter.

President and CEO Russell Low commented, “Axcelis exited the year on a strong note, with fourth quarter revenue and profitability exceeding our expectations. As we look ahead to 2025, we anticipate a near term cyclical digestion period, as customers absorb the robust investments they’ve made into mature node capacity over the past few years – particularly in China. We are focused on capturing the long-term growth opportunities that lie ahead by investing in product innovation, managing our costs, and working closely with customers on their technology roadmaps – all of which will put us in an even stronger position for the next upturn.” 

Executive Vice President and Chief Financial Officer Jamie Coogan said, “We are pleased with our financial execution in 2024. Despite a decline in revenue, we were able to deliver higher gross margins, generate solid free cash flow, return capital to shareholders via buyback, and exit the year with a stronger balance sheet that allows us to invest during this cyclical digestion period and drive long term value creation.”

Business Outlook
For the first quarter ending March 31, 2025, Axcelis expects revenues of approximately $185 million, and earnings per diluted share of approximately $0.38.

Fourth Quarter and Full Year 2024 Conference Call
The Company will host a call to discuss the results for the fourth quarter and full year 2024 on Tuesday, February 11, 2025, at 8:30 a.m. ET. The call will be available via webcast that can be accessed through the Investors page of Axcelis’ website at www.axcelis.com, or by registering as a participant here:

https://register.vevent.com/register/BIb4b94bbc1cf744869eeb20b9a9be88a7
Webcast replays will be available for 30 days following the call.

Safe Harbor Statement
This press release and the conference call contain forward-looking statements under the Private Securities Litigation Reform Act safe harbor provisions. These statements, which include our expectations for spending in our industry and guidance for future financial performance, are based on management’s current expectations and should be viewed with caution. They are subject to various risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are outside the control of the Company, including that customer decisions to place orders or our product shipments may not occur when we expect, that orders may not be converted to revenue in any particular quarter, or at all, whether demand will continue for the semiconductor equipment we produce or, if not, whether we can successfully meet changing market requirements, and whether we will be able to maintain continuity of business relationships with and purchases by major customers. Increased competitive pressure on sales and pricing, increases in material and other production costs that cannot be recouped in product pricing and instability caused by changing global economic, political or financial conditions could also cause actual results to differ materially from those in our forward-looking statements. These risks and other risk factors relating to Axcelis are described more fully in the most recent Form 10-K filed by Axcelis and in other documents filed from time to time with the Securities and Exchange Commission.

About Axcelis:
Axcelis (Nasdaq: ACLS), headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for over 45 years. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process. Learn more about Axcelis at www.axcelis.com.

CONTACTS:

Investor Relations Contact:
David Ryzhik
Senior Vice President, Investor Relations and Corporate Strategy
Telephone: (978) 787-2352
Email: David.Ryzhik@axcelis.com

Press/Media Relations Contact: 
Maureen Hart
Senior Director, Corporate & Marketing Communications
Telephone: (978) 787-4266
Email: Maureen.Hart@axcelis.com

 

Axcelis Technologies, Inc.

Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

Three months ended 

Twelve months ended

December 31,

December 31,

2024

2023

2024

2023

Revenue:

Product

$

241,254

$

300,603

$

976,881

$

1,095,650

Services

11,163

9,685

40,984

34,954

Total revenue

252,417

310,288

1,017,865

1,130,604

Cost of revenue:

Product

125,402

163,801

524,451

608,112

Services

10,792

8,591

38,760

31,191

Total cost of revenue

136,194

172,392

563,211

639,303

Gross profit

116,223

137,896

454,654

491,301

Operating expenses:

Research and development

27,654

24,911

105,497

96, 907

Sales and marketing

16,563

16,659

68,046

62,805

General and administrative

17,475

17,275

70,317

65,794

Total operating expenses

61,692

58,845

243,860

225,506

Income from operations

54,531

79,051

210,794

265,795

Other income (expense):

Interest income

6,277

5,375

24,403

18,199

Interest expense

(1,444)

(1,320)

(5,462)

(5,347)

Other, net

(719)

4,300

539

(48)

Total other income

4,114

8,355

19,480

12,804

Income before income taxes

58,645

87,406

230,274

278,599

Income tax provision

8,689

16,350

29,282

32,336

Net income

$

49,956

$

71,056

$

200,992

$

246,263

Net income per share:

Basic

$

1.54

$

2.17

$

6.17

$

7.52

Diluted

$

1.54

$

2.15

$

6.15

$

7.43

Shares used in computing net income per share:

Basic weighted average shares of common stock

32,424

32,708

32,552

32,758

Diluted weighted average shares of common stock

32,514

33,031

32,704

33,165

 

Axcelis Technologies, Inc.

Consolidated Balance Sheets

(In thousands, except per share amounts)

(Unaudited)

December 31,

December 31,

2024

2023

ASSETS

Current assets:

Cash and cash equivalents

$

123,512

$

167,297

Short-term investments

447,831

338,851

Accounts receivable, net

203,149

217,964

Inventories, net

282,225

306,482

Prepaid income taxes

6,420

Prepaid expenses and other current assets

60,471

49,397

Total current assets

1,123,608

1,079,991

Property, plant and equipment, net

53,784

53,971

Operating lease assets

29,621

30,716

Finance lease assets, net

15,346

16,632

Long-term restricted cash

7,552

6,654

Deferred income taxes

68,277

53,428

Other assets

50,593

40,575

Total assets

$

1,348,781

$

1,281,967

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$

46,928

$

54,400

Accrued compensation

25,536

31,445

Warranty

13,022

14,098

Income taxes

6,164

Deferred revenue

94,673

164,677

Current portion of finance lease obligation

1,345

1,511

Other current liabilities

26,018

12,834

Total current liabilities

207,522

285,129

Long-term finance lease obligation

42,329

43,674

Long-term deferred revenue

43,501

46,208

Other long-term liabilities

42,639

42,074

Total liabilities

335,991

417,085

Stockholders’ equity:

Common stock, $0.001 par value, 75,000 shares authorized; 32,365 shares issued and outstanding at December 31, 2024; 32,685 shares issued and outstanding at December 31, 2023

32

33

Additional paid-in capital

548,654

547,189

Retained earnings

470,318

319,506

Accumulated other comprehensive loss

(6,214)

(1,846)

Total stockholders’ equity

1,012,790

864,882

Total liabilities and stockholders’ equity

$

1,348,781

$

1,281,967

 

Axcelis Technologies, Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Three months ended

Twelve months ended

December 31,

December 31,

2024

2023

2024

2023

Cash flows from operating activities

Net income

$

49,956

$

71,056

$

200,992

$

246,263

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

4,267

3,581

15,809

13,069

Stock-based compensation expense

5,380

5,239

20,951

18,269

Other

(442)

(14,565)

(11,532)

(23,503)

Change in operating assets and liabilities, net

(46,381)

264

(85,402)

(97,229)

Net cash provided by operating activities

12,780

65,575

140,818

156,869

Cash flows from investing activities

Expenditures for property, plant and equipment and capitalized software

(4,658)

(10,153)

(12,181)

(20,656)

Other changes in investing activities, net

13,779

(16,526)

(96,545)

(80,202)

Net cash provided by (used in) investing activities

9,121

(26,679)

(108,726)

(100,858)

Cash flows from financing activities

Repurchase of common stock

(15,131)

(15,001)

(60,489)

(52,499)

Other changes from financing activities, net

588

(22)

(10,703)

(15,769)

Net cash used in financing activities

(14,543)

(15,023)

(71,192)

(68,268)

Effect of exchange rate changes on cash and cash equivalents

(3,013)

1,128

(3,787)

(139)

Net increase (decrease) in cash, cash equivalents and restricted cash

4,345

25,001

(42,887)

(12,396)

Cash, cash equivalents and restricted cash at end of period

$

131,064

$

173,951

$

131,064

$

173,951

 

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SOURCE Axcelis Technologies, Inc.

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Safetyfirst Systems, LLC Provides Notice of Data Security Event

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PARSIPPANY, N.J., July 23, 2026 /PRNewswire/ — Safetyfirst Systems, LLC (“SFS”) is providing notice of a data security event that may involve information relating to certain individuals. While SFS is not aware of any misuse of information associated with this event, it is providing notice to potentially affected individuals out of an abundance of caution.

On January 19, 2026, SFS identified suspicious activity involving a limited portion of its server environment. Upon discovering the activity, SFS quickly took steps to secure its systems, notified federal law enforcement, engaged leading third-party forensic specialists, and performed a detailed investigation into the nature, scope, and impact of the activity. The investigation determined that an unauthorized actor accessed and/or acquired certain files from limited SFS systems between January 16, 2026, and January 19, 2026. SFS then conducted a comprehensive review of the affected files to determine what information may have been involved and identify the individuals to whom the information relates. The review has recently concluded, and SFS is providing this notification to potentially impacted individuals out of an abundance of caution. Although the types of information vary by individual, the affected information may include names, Social Security numbers, and driver’s license numbers.

Protecting the privacy and security of the information entrusted to SFS is a responsibility the company takes very seriously. In response to this event, SFS promptly strengthened security measures, continues to enhance its technical safeguards and monitoring capabilities, and is reviewing existing policies and procedures to further protect against similar incidents in the future. SFS is also providing notice to potentially affected individuals and, where required, appropriate regulatory authorities.

Although SFS is unaware of any misuse of personal information impacted by this event, individuals are encouraged to remain vigilant against events of identity theft by reviewing account statements, explanation of benefits, and monitoring free credit reports for suspicious activity and to detect errors. Any suspicious activity should be reported to the appropriate insurance company, health care provider, or financial institution.

Individuals seeking additional information regarding this event can contact SFS’s dedicated assistance line at 1-833-289-5523 between the hours of 7:00 a.m. to 7:00 p.m. Eastern time, Monday through Friday, excluding holidays. Individuals may also write to SFS at PO Box 101, 3299 US Highway 46, Parsippany, NJ 07054-9998.

 

View original content:https://www.prnewswire.com/news-releases/safetyfirst-systems-llc-provides-notice-of-data-security-event-302831894.html

SOURCE Safetyfirst Systems, LLC

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Sunrate and Mastercard Release White Paper on Agentic AI and the Future of B2B Global Payments

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SHANGHAI, July 24, 2026 /PRNewswire/ — Sunrate, the global payment and treasury management platform, and Mastercard, a global technology company in the payments industry, unveiled a joint white paper, Beyond Automation: Defining Agentic Global Payments, at the 2026 World Artificial Intelligence Conference (WAIC).

Among the first reports in the payments industry to examine the impact of Agentic AI on B2B cross-border payments, the white paper provides a comprehensive framework for understanding how AI agents are reshaping enterprise payment operations. It proposes that cross-border payments are evolving beyond digitisation and automation into a new stage: Autonomy—where AI agents with reasoning, planning, and execution capabilities can independently orchestrate and optimise end-to-end payment and treasury workflows within defined governance frameworks.

As businesses expand across borders, B2B cross-border payments continue to be constrained by fragmented workflows, disconnected systems, foreign exchange inefficiencies, rising compliance requirements, and complex reconciliation processes. While traditional automation improves individual tasks, the white paper demonstrates that Agentic AI represents a fundamental shift by enabling intelligent agents to coordinate entire payment journeys across systems, counterparties, and approval workflows.

Drawing on Sunrate’s global payment infrastructure and AI-native product capabilities, together with Mastercard’s expertise in secure payment networks and data intelligence, the white paper defines Agentic Global Payments — a new category of AI-native global payment infrastructure built to automate and manage complex enterprise workflows.

The report identifies 16 major pain points across the B2B payment lifecycle and outlines 13 high-value AI use cases spanning supplier onboarding, accounts payable and receivable, virtual commercial cards, payment routing, foreign exchange management, compliance screening, fraud detection, reconciliation, and conversational operational support. It also demonstrates how AI agents can automate complex workflows—from extracting information across multiple document formats and conducting compliance checks to initiating payments, optimising FX execution, and completing reconciliation—while operating within enterprise governance and control frameworks.

The white paper further highlights that trusted adoption of agentic payments depends on more than technological capability. It identifies governance, transparency, security, and ecosystem collaboration as essential foundations for enterprise deployment, supported by frameworks such as Know Your Agent (KYA), payment tokenisation, auditability, and cross-industry interoperability.

Sunrate.AI portfolio currently includes the Payment Agent, FX Agent, Compliance Agent, Onboarding Agent, and Chat Agent, designed to help enterprises automate and optimise critical payment and treasury processes while maintaining compliance and operational control.

Mastercard has also been actively building the foundations for trusted agentic commerce – combining AI capabilities with verifiable authorisation, clear accountability and proven payments security. Its work in this area, including Agent Pay (alongside Agent Pay for Machines) and Verifiable Intent, are proof points in how Mastercard is enabling AI to participate in commerce safely and transparently. 

“Our mission is to make global payments seamless, compliant, and intelligent,” said Paul Meng, Co-founder and CEO of Sunrate. “As businesses continue expanding internationally, AI agents will fundamentally reshape how enterprises manage global payments—enabling smoother capital flows, reducing operational friction, and embedding real-time intelligence into every payment decision. This white paper represents an important step in helping the industry understand how Agentic AI can be deployed responsibly at enterprise scale.”

“Agentic commerce is changing how businesses make and execute payment decisions, but speed without accountability creates new categories of risk,” said Anouska Ladds, Executive Vice President, Commercial & New Payment Flows, Asia Pacific, Mastercard. “As AI starts to act on behalf of businesses, autonomous payment decisions need a clear, auditable chain of identity, intent and action. That’s what allows organisations to delegate with genuine confidence — and what will determine whether agentic commerce scales past pilots.”

Released under WAIC 2026’s theme, “Intelligent Partners, Co-creating the Future,” the white paper provides business leaders with practical guidance on adopting AI-driven payment capabilities, covering implementation approaches, governance considerations, and real-world enterprise applications.

By combining Sunrate’s expertise in global payments and treasury management with Mastercard’s trusted payment infrastructure and network capabilities, the collaboration reflects a shared commitment to accelerating the next generation of intelligent, secure, and autonomous B2B global payments.

Click here to check the white paper.

About Sunrate

Sunrate is a leading global payment and treasury management platform for businesses worldwide. Founded in 2016, Sunrate has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge infrastructure, global network, and unified solutions.

Sunrate operates through offices across key markets, including Singapore, Kuala Lumpur, Jakarta, Hong Kong, Shanghai, and London. The company partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays, J.P. Morgan. Sunrate is also the principal member of Mastercard and Visa. To learn more about Sunrate, visit https://www.sunrate.com/.

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential. 

www.mastercard.com

SOURCE Sunrate

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JAMS Launches AI for Enterprise Job Scheduling: JAX and JAMS MCP

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A new AI agent and an open-standard connector let IT teams query, diagnose, and manage automation in plain language, on the model they choose, with operational data able to stay onshore inside their own network

SYDNEY, July 24, 2026 /PRNewswire/ — JAMS Software, an orchestration solution for scheduled and event-driven automation, today announced the general availability of two AI capabilities for enterprise job scheduling: JAX, an AI agent built into the JAMS Web Client, and JAMS MCP, a connector built on the open Model Context Protocol standard that brings JAMS into external AI coding tools. Both capabilities ship at no additional cost as part of JAMS Web.

Automation environments grow faster than the teams that run them. Jobs multiply across SQL Server, Azure Data Factory, Airflow, SAP, JDE, and Banner, and when one fails, finding the root cause often means searching several consoles at once, frequently outside business hours. At the same time, IT leaders carry pressure to adopt AI while staying accountable for where operational data goes. JAX and JAMS MCP close both gaps together.

Full details on how JAX and JAMS MCP work, including the control model behind every action, are available at jamsscheduler.com/product/ai.

JAX is an AI agent that runs inside the JAMS Web Client. It finds jobs, troubleshoots failures, and answers how-to questions in plain language, with each response grounded in the JAMS user guide and checked against a built-in glossary. JAX acts only when a user asks it to. Reads flow freely, and every write action pauses for the user’s explicit approval before it runs. JAX does not learn between sessions, and conversations are not retained on the server.

JAMS MCP is a connector, built on the open Model Context Protocol standard, that brings JAMS into the AI tools engineering teams already use, including Cursor, VS Code with Copilot, Claude Code, Claude Desktop, and Codex. Users query jobs, investigate failures, and manage runs in plain language without leaving their tool.

Both capabilities run inside the customer’s own network and act as the signed-in user, with that user’s exact JAMS permissions. There is no elevated AI account: whatever a user cannot do in the JAMS interface, JAX and JAMS MCP cannot do on that user’s behalf. Every JAX and MCP operation is recorded in its own dedicated log, and changes made through the JAMS API land in the JAMS audit trail like any other change. Customers choose their own AI model, whether a commercial provider such as OpenAI or Anthropic or a model running entirely on their own hardware, and JAMS never trains on customer data. In the current release, neither feature edits or deletes a job, folder, schedule, or agent definition. For teams that need operational data to stay onshore, JAX runs on a local model entirely inside the customer’s own network, so nothing leaves at all.

“Adopting AI usually means giving something up, most often visibility into where your data goes,” said Pete Hegland, Chief Executive Officer of JAMS Software. “We built JAX and JAMS MCP so that trade does not have to happen. Every action runs as the signed-in user, every change waits for approval, and the model can run on the customer’s own hardware, keeping operational data onshore.”

“For teams across Australia, New Zealand, and Singapore, two things matter: keeping data onshore, and getting answers when a job fails after hours,” said Shayne Cooper, Account Executive for APAC at JAMS Software. “JAX and JAMS MCP address both. The model can run on the customer’s own hardware, and the answer arrives in plain language at the moment it is needed.”

JAX and JAMS MCP are available now to all JAMS Web customers across Australia, New Zealand, and Singapore, with no separate licence, SKU, or additional cost. AI-assisted creation of new jobs and workflows from a plain-language description is on the roadmap for a future release, gated by the same approvals and permissions as every other action.

Learn how JAX and JAMS MCP work at https://jamsscheduler.com/product/ai.

Fast facts

JAX is an AI agent built into the JAMS Web Client for job scheduling and workflow automation.JAMS MCP is a connector built on the open Model Context Protocol standard, for Cursor, VS Code with Copilot, Claude Code, Claude Desktop, and Codex.Both act as the signed-in user, with that user’s exact JAMS permissions, and there is no elevated AI account.Customers choose the AI model, including a local model that runs entirely inside their own network.JAMS never trains on customer data.Both are available now at no additional cost as part of JAMS Web.

About JAMS Software
Founded in 1987, JAMS Software is an orchestration solution that helps IT teams centralize, automate, and manage scheduled and event-driven jobs across complex, hybrid environments. Over 850 customers rely on JAMS to run their automated workloads. JAMS Software, LLC is headquartered at 108 Patriot Drive, Suite A, Middletown, DE 19709.

Media Contact
Bobby Schmidt, Vice President of Marketing
press@jamssoftware.com
800.261.4267

 

 

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