Form 8-K

8-K — AMTECH SYSTEMS INC

Accession: 0000720500-26-000009

Filed: 2026-08-05

Period: 2026-08-05

CIK: 0000720500

SIC: 3559 (SPECIAL INDUSTRY MACHINERY, NEC)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — asys-20260805.htm (Primary)

EX-99.1 (asys-ex99_1.htm)

GRAPHIC (img235722521_0.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: asys-20260805.htm · Sequence: 1

8-K

false0000720500AMTECH SYSTEMS INC00007205002026-08-052026-08-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 05, 2026

Amtech Systems, Inc.

(Exact name of Registrant as Specified in Its Charter)

Arizona

000-11412

86-0411215

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

58 S. River Drive, Suite 370

Tempe, Arizona

85288

(Address of principal executive offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (480) 967-5146

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

ASYS

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 5, 2026, Amtech Systems, Inc. (the “Registrant” or the “Company”) issued a press release announcing its results of operations and financial condition for the fiscal third quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report and is incorporated herein by reference.

The information contained in this Current Report, including the accompanying Exhibit 99.1, is furnished pursuant to Item 2.02 of Form 8-K and shall not be incorporated by reference into any filing of the Registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing. The information in this Current Report, including the accompanying Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

d) Exhibits.

Exhibit No.

Description

99.1

Press release dated August 5, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AMTECH SYSTEMS, INC.

Date:

August 5, 2026

By:

/s/ Thomas Sabol

Name: Thomas Sabol

Title: Chief Financial Officer

EX-99.1

Filename: asys-ex99_1.htm · Sequence: 2

EX-99.1

EXHIBIT 99.1

Amtech Systems Reports Fiscal 2026 Third Quarter Financial Results

AI Driven Demand for Advanced Packaging and Server Board Assembly Equipment Drives Increase in TPS Revenue by 25% from Prior Year Period

TEMPE, Ariz., August 5, 2026 -- Amtech Systems, Inc. ("Amtech" or the "Company") (NASDAQ: ASYS), a manufacturer of equipment and consumables enabling AI semiconductor device packaging and advanced substrate fabrication, today reported results for its third quarter ended June 30, 2026.

Fiscal 2026 Third Quarter Financial and Operational Highlights:

•

Net revenue of $22.4 million

•

Cash of $83.1 million, which includes $56.5 million of net proceeds from the oversubscribed public offering of common stock in June 2026

•

Cash provided by operations of $1.1 million

•

GAAP net income of $1.7 million

•

Non-GAAP net income of $2.4 million(1)

•

Adjusted EBITDA $3.3 million (1)

•

Customer orders of $28.8 million, up from $21.1 million in 2Q26

•

Backlog of $28.7 million at end of June 2026, compared to $22.3 million at end of March 2026

(1) See GAAP to non-GAAP and EBITDA and Adjusted EBITDA reconciliation in schedules following this release.

Management Comments

“The continued build-out of AI infrastructure and the growing capital intensity of advanced packaging are driving the increasing demand for our Thermal Processing Solutions (TPS) segment,” said Bob Daigle, Chief Executive Officer of Amtech. “Demand for our advanced packaging and server board assembly equipment remains exceptionally strong due to our differentiated capabilities, including true-flat technology and industry-leading temperature uniformity. AI-related revenue in the quarter was up by approximately 120% from the prior year period. Total revenue for the third quarter came in at the high end of our guidance range at $22.4 million, an increase of 14.5% from the same quarter last year. Momentum in our TPS segment is being partially offset by the decline in our mature node Semiconductor Fabrication Solutions (SFS) segment, which continues to be impacted by softer demand, particularly for silicon carbide-related products.

“Profitability exceeded guidance due to the strong operating leverage generated by our semi-fabless business model. On a consolidated basis, gross margin increased to 50% for the quarter, and Adjusted EBITDA was $3.3 million, about 15% of revenue. Looking ahead, we are expecting continued growth in the fourth quarter driven by strong AI related equipment orders.”

“Bookings for equipment that supports AI semiconductor advanced packaging and server board assembly were very strong in the quarter and resulted in a book-to-bill ratio for our TPS segment of 1.37,” said Guy Shechter, President and Chief Operating Officer of Amtech. “Upon my appointment as COO a few months ago, I have spent a considerable amount of time visiting with our customers, business partners, supply chain constituents and team members around the world. The common theme from everyone associated with the global AI buildout, particularly for hyperscalers and their foundry and OSAT partners, continues to be the increasing levels of capital spending to keep pace with AI accelerator and agentic AI-related compute demand. This demand profile supports spending that is expected to increasingly flow into advanced packaging, as the industry looks for ways to expand capacity quickly while increasing interconnect density and thermal performance.”

“Mr. Shechter continued, “Amtech’s reflow equipment for advanced packaging is well positioned to capture the ongoing demand seen throughout the industry, and we are investing in next generation equipment to support future requirements. At the same time, we are managing costs in our SFS business to mitigate the impact of weak demand for products supporting mature node customers.”

GAAP and Non-GAAP Financial Results

($s in millions, except per share amounts)

9 Months

FY 2026

FY 2025

2026

2025

Revenues, net

22.4

20.5

19.6

61.8

59.5

Gross profit

11.2

9.8

9.1

29.5

18.2

Gross margin

50.0

47.7

46.7

47.6

30.5

Non-GAAP gross profit (1)

11.2

9.8

9.1

29.5

24.2

Non-GAAP gross margin (1)

50.0

47.7

46.7

47.6

40.6

GAAP net income (loss)

1.7

1.2

0.1

2.9

(31.4

)

GAAP net income (loss) per diluted share

0.10

0.08

0.01

0.19

(2.20

)

Non-GAAP net income (loss) (1)

2.4

1.5

0.9

4.3

(0.6

)

Non-GAAP net income (loss) per diluted share (1)

0.14

0.10

0.06

0.28

(0.04

)

(1) See GAAP to non-GAAP reconciliation in schedules following this release.

Net revenues of $22.4 million increased 14.5% from the third quarter of fiscal 2025. The increase is primarily due to strong demand from the Company’s Thermal Processing Solutions (TPS) segment. TPS revenue of approximately $17.7 million was up 24.9% year-over-year, driven by continued strength in AI-related equipment demand and growth in parts and services revenues. In the third quarter of 2026, over 19% of TPS revenue was related to parts and services. Semiconductor Fabrication Solutions (SFS) segment revenue of approximately $4.6 million was down 13.3% year-over-year due to very weak demand for products supporting SiC wafer production.

GAAP gross margin increased by $2.1 million compared to the same prior year period. The increase is primarily due to the Company’s product line rationalization, with a focus on growing higher-margin product lines, including AI-advanced packaging solutions. Gross margin as a percentage of sales increased to 50.0%, up from 46.7% in the same period of the prior year.

The prior year period gross margin benefited from a $1.0 million Employee Retention Credit ("ERC") refund. Excluding the ERC, normalized gross margin was 41.5%.

Selling, General & Administrative (“SG&A”) expenses increased by $0.6 million as compared to the fiscal 2025 third quarter. The increase from the prior year period is primarily due to expanding business activities including executive staffing, tax and IT consulting fees. Research, Development, and Engineering expenses increased $0.5 million compared to the same period last year driven by increases in our TPS segment.

GAAP net income for the third quarter of fiscal 2026 was $1.7 million, or $0.11 per share. This compares to GAAP net income of $0.1 million, or $0.01 per share, for the third quarter of fiscal 2025. The Company’s GAAP net income includes $0.4 million for foreign currency exchange losses in the third quarter of fiscal 2026, as compared to $0.1 million in the prior year, primarily driven by a weakening United States Dollar against the Chinese Renminbi.

Unrestricted cash and cash equivalents at June 30, 2026, were $83.1 million, compared to $24.4 million at March 31, 2026 and $17.9 million at September 30, 2025. During the third quarter ended June 30, 2026, the Company raised $56.5 million of net proceeds from a $60.0 million oversubscribed public offering of common stock. The Company continued to benefit from operational cash generation, working capital optimization, strong accounts receivable collections from customers, and accounts payable management, and generated $1.1 million in cash flow from operations during the fiscal third quarter of 2026.

Outlook

For the fourth fiscal quarter ending September 30, 2026, the Company expects revenues in the range of $22.5 million to $24.0 million. The Company’s Adjusted EBITDA margin for the period is expected to be in the low to mid-teens. This preliminary outlook reflects continued strength in AI-related demand for advanced packaging and panel-level packaging equipment within the TPS segment and disciplined spending to maximize operating leverage throughout the entire organization.

A portion of Amtech's results is denominated in Renminbi, a Chinese currency, and other Asian currencies. The outlook provided in this press release is based on an assumed exchange rate between the United States Dollar and the foreign currencies. Changes in the value of the foreign currencies in relation to the United States Dollar could cause actual results to differ from expectations.

Conference Call

Amtech Systems will host a conference call at 5:00 pm ET today, August 5, 2026, to discuss fiscal third quarter financial results. The call will be available to interested parties by dialing 412-365-5127. A live webcast of the conference call will be available in the Investor Relations section of Amtech's website at: https://www.amtechsystems.com/investors/events.

A replay of the webcast will be available in the Investor Relations section of the Company's website at https://www.amtechsystems.com/investors/events shortly after the conclusion of the call and will remain available for approximately 30 calendar days.

About Amtech Systems, Inc.

Amtech Systems, Inc. (NASDAQ: ASYS) provides equipment, consumables and services for AI semiconductor device packaging and advanced wafer substrate fabrication. Our products include advanced packaging and electronics assembly equipment for applications such as AI GPUs and advanced automotive electronics.

Consumable and other solutions are used in fabricating semiconductor devices, such as silicon carbide (SiC) and silicon (Si) power devices, digital and analog devices, power electronic packages, advanced semiconductor packages and electronic assemblies. We sell these products to semiconductor device and module manufacturers worldwide, particularly in Asia, North America and Europe. To learn more about Amtech, please visit our website at https://www.amtechsystems.com.

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this press release is forward-looking in nature, including preliminary and estimated financial results, which are based on the Company's current expectations and are subject to completion of its quarter-end closing procedures. All statements in this press release, or made by management of Amtech Systems, Inc. and its subsidiaries (“Amtech”), other than statements of historical fact, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the PSLRA. Forward-looking statements include, but are not limited to, statements regarding our plans, strategies and prospects, both business and financial, including statements about our future financial or operating results, revenue and operating performance, market outlook, customer demand and product development, growth initiatives, cost reduction strategies and capital allocation, demand for AI-related semiconductor packaging equipment, delivering profitable growth, creating long-term value for our shareholders, long-term future prospects, business strategies, projected costs, the optimization and reduction of structural costs, products under development, competitive positions, plans and objectives of management for future operations, efforts to improve operational efficiencies, and enhancements to our technologies and expansion of our product portfolio. Forward-looking statements give our current expectations or forecasts of future events. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts.

These statements may use words such as “may,” “plan,” “anticipate,” “seek,” “will,” “expect,” “intend,” “estimate,” “believe,” “continue,” “predict,” “potential,” “project,” “should,” “would,” “could,” “likely,” “future,” “target,” “forecast,” “goal,” “observe,” “strategy,” “opportunities,” “committed,” “on track” or the negative thereof or variations thereon or similar terminology. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. The Form 10-K that Amtech filed with the Securities and Exchange Commission (the "SEC") for the most recently completed fiscal year-ended September 30, listed various important factors that could affect the Company's future operating results and financial condition and could cause actual results to differ materially from historical results and expectations based on forward-looking statements made in this document or elsewhere by Amtech or on its behalf. These factors can be found under the heading "Risk Factors" in the Form 10-K and in our subsequently filed Quarterly Reports on Form 10-Qs, and investors should refer to them. Because it is not possible to predict or identify all such factors, any such list cannot be considered a complete set of all potential risks or uncertainties. Except as required by law, we undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events, or otherwise.

Amtech Systems may use its website (www.amtechsystems.com), investor relations page (https://www.amtechsystems.com/investors), and LinkedIn page (https://www.linkedin.com/company/amtechsystems) to disclose material non-public information and for

complying with its disclosure obligations under Regulation FD. Accordingly, investors and other interested parties should monitor these sites, in addition to following Amtech Systems press releases, Securities and Exchange Commission (SEC) filings, public conference calls and public presentations/webcasts.

In discussing financial results in this press release, the Company refers to certain financial measures that are not calculated in accordance with United States generally accepted accounting principles ("GAAP"). Non-GAAP financial measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP net income (loss), non-GAAP net income (loss) per diluted share, EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), and Adjusted EBITDA. These non-GAAP measures are provided as a supplement to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. Management uses these non-GAAP financial measures to evaluate the Company's core operating performance and to facilitate period-to-period comparisons. Non-GAAP amounts exclude certain adjustments which may include but are not limited to stock compensation expense, severance expense, expenses related to discontinued product lines, gain on the sale of assets, moving expenses, amortization of acquired intangible assets, acquisition expenses, goodwill and intangible asset impairment, inventory write-down of mature node semiconductor products, right-of-use asset impairment from sublease, disposal of fixed assets from sublease and any income tax changes related to acquisitions. A tabular reconciliation of financial measures prepared in accordance with GAAP to the non-GAAP financial measures is included at the end of this press release.

Contacts:

Amtech Systems, Inc.

Thomas Sabol

Chief Financial Officer

irelations@amtechsystems.com

Darrow Associates

Jordan Darrow

(631) 766-4528

jdarrow@darrowir.com

AMTECH SYSTEMS, INC.

(NASDAQ: ASYS)

(Unaudited)

Summary Financial Information

(in thousands, except percentages)

Three Months Ended

Nine Months Ended June 30,

June 30,

2026

March 31, 2026

June 30,

2025

2026

2025

Amtech Systems, Inc.

Revenues, net

22,383

20,468

19,557

61,824

59,522

GAAP gross profit

11,193

9,769

9,132

29,456

18,169

Non-GAAP gross profit

11,193

9,769

9,132

29,456

24,155

GAAP gross margin

Non-GAAP gross margin

Operating income (loss)

2,207

1,794

915

4,776

(30,328

)

New orders

28,800

21,149

21,655

70,603

55,426

Backlog

28,668

22,252

21,216

28,668

21,216

Thermal Processing Solutions Segment

Revenues, net

17,745

14,735

14,208

46,460

43,467

GAAP gross profit

9,006

7,129

6,325

22,728

14,005

Non-GAAP gross profit

9,006

7,129

6,325

22,728

17,567

GAAP gross margin

Non-GAAP gross margin

Operating income (loss)

4,521

3,159

2,907

10,610

(2,620

)

New orders

24,279

17,004

14,057

57,478

37,786

Backlog

25,673

19,139

15,164

25,673

15,164

Semiconductor Fabrication Solutions Segment

Revenues, net

4,638

5,733

5,349

15,364

16,055

GAAP gross profit

2,187

2,640

2,807

6,728

4,164

Non-GAAP gross profit

2,187

2,640

2,807

6,728

6,588

GAAP gross margin

Non-GAAP gross margin

Operating income (loss)

(91

)

490

878

100

(20,557

)

New orders

4,521

4,145

7,598

13,125

17,640

Backlog

2,995

3,113

6,052

2,995

6,052

AMTECH SYSTEMS, INC.

(NASDAQ: ASYS)

(Unaudited)

Condensed Consolidated Statements of Operations

(in thousands, except per share data)

Three Months Ended June 30,

Nine Months Ended June 30,

2026

2025

2026

2025

Revenues, net

22,383

19,557

61,824

59,522

Cost of sales

11,190

10,425

32,368

41,353

Gross profit

11,193

9,132

29,456

18,169

Selling, general and administrative

8,003

7,387

22,034

22,553

Research, development and engineering

855

364

2,518

2,070

Loss on sale of property, plant and equipment

274

Goodwill impairment

—

20,353

Intangible asset impairment

—

2,569

Severance expense

421

678

Operating income (loss)

2,207

915

4,776

(30,328

)

Interest income

273

504

119

Interest expense

)

(18

)

(19

)

Foreign currency (loss) gain

(360

)

(96

)

(828

)

305

Other

156

197

Income (loss) before income tax provision

2,274

905

4,631

(29,878

)

Income tax provision

616

799

1,699

1,516

Net income (loss)

1,658

106

2,932

(31,394

)

Income (loss) per share:

Net income (loss) per basic share

0.11

0.01

0.20

(2.20

)

Net income (loss) per diluted share

0.10

0.01

0.19

(2.20

)

Weighted average shares outstanding:

Basic

15,440

14,314

14,744

14,294

Diluted

16,040

14,314

15,264

14,294

AMTECH SYSTEMS, INC.

(NASDAQ: ASYS)

(Unaudited)

Condensed Consolidated Balance Sheets

(in thousands, except share data)

June 30,

2026

September 30,

2025

Assets

Current Assets

Cash and cash equivalents

83,109

17,904

Accounts receivable (less allowance for credit losses of $85 and $113 at

June 30, 2026 and September 30, 2025, respectively)

19,712

19,878

Inventories

20,469

18,743

Income taxes receivable

Other current assets

4,233

3,572

Total current assets

127,595

60,177

Property, plant and equipment - net

8,771

10,227

Right-of-use assets - net

16,318

18,293

Goodwill

908

Intangible assets - net

959

1,091

Deferred income taxes - net

1,023

Other assets

1,141

1,154

Total Assets

156,715

92,873

Liabilities and Shareholders’ Equity

Current Liabilities

Accounts payable

10,350

7,735

Accrued compensation and related taxes

2,448

1,609

Accrued warranty expense

343

394

Other accrued liabilities

776

726

Current maturities of finance lease liabilities

130

126

Current portion of operating lease liabilities

2,032

1,903

Contract liabilities

6,491

6,461

Income taxes payable

1,008

1,528

Total current liabilities

23,578

20,482

Long-term finance lease liabilities

108

168

Long-term operating lease liabilities

15,621

17,316

Income taxes payable

437

663

Other long-term liabilities

1,370

859

Total Liabilities

41,114

39,488

Commitments and Contingencies

Shareholders’ Equity

Preferred stock; 100,000,000 shares authorized; none issued

—

Common stock; $0.01 par value; 100,000,000 shares authorized; shares

issued and outstanding: 17,508,101 and 14,354,797 at June 30, 2026

and September 30, 2025, respectively

175

144

Additional paid-in capital

188,341

130,057

Accumulated other comprehensive gain (loss)

(959

)

Retained deficit

(72,925

)

(75,857

)

Total Shareholders’ Equity

115,601

53,385

Total Liabilities and Shareholders’ Equity

156,715

92,873

AMTECH SYSTEMS, INC.

(NASDAQ: ASYS)

(Unaudited)

Condensed Consolidated Statements of Cash Flows

(in thousands)

Nine Months Ended June 30,

2026

2025

Operating Activities

Net income (loss)

2,932

(31,394

)

Adjustments to reconcile net income (loss) to net cash provided by

operating activities:

Depreciation and amortization

1,861

2,167

Write-down of inventory

277

6,647

ROU asset impairment

151

—

Goodwill impairment

—

20,353

Intangible asset impairment

—

2,569

Non-cash share-based compensation expense

971

961

Loss on sale of property, plant and equipment

274

(Reversal of) provision for allowance for credit losses

(28

)

Changes in operating assets and liabilities:

Accounts receivable

193

2,899

Inventories

(2,004

)

600

Other assets

1,114

3,057

Accounts payable

2,835

1,477

Accrued income taxes

(738

)

219

Accrued and other liabilities

(356

)

(1,696

)

Contract liabilities

(2,567

)

Net cash provided by operating activities

7,316

5,609

Investing Activities

Purchases of property, plant and equipment

(601

)

(704

)

Proceeds from the sale of property, plant and equipment

Net cash used in investing activities

(556

)

(692

)

Financing Activities

Net proceeds from issuance of common stock

56,531

—

Proceeds from the exercise of stock options

1,187

150

Payments on finance lease obligations

(113

)

(70

)

Borrowings on finance lease obligations

—

Payment of payroll taxes on stock-based compensation through shares withheld

(175

)

—

Net cash provided by financing activities

57,451

Effect of Exchange Rate Changes on Cash and Cash Equivalents

994

(520

)

Net Increase in Cash and Cash Equivalents

65,205

4,477

Cash and Cash Equivalents, Beginning of Period

17,904

11,086

Cash and Cash Equivalents, End of Period

83,109

15,563

AMTECH SYSTEMS, INC.

(NASDAQ: ASYS)

(Unaudited)

Reconciliation of GAAP to Non-GAAP Financial Measures

($s in thousands)

Three Months Ended

Nine Months Ended June 30,

June 30,

2026

March 31, 2026

June 30,

2025

2026

2025

Amtech Systems, Inc. Gross Profit:

GAAP gross profit

11,193

9,769

9,132

29,456

18,169

Inventory write-down of mature node semiconductor products

5,986

Non-GAAP gross profit

11,193

9,769

9,132

29,456

24,155

GAAP gross margin

Non-GAAP gross margin

Thermal Processing Solutions Segment Gross Profit:

GAAP gross profit

9,006

7,129

6,325

22,728

14,005

Inventory write-down of mature node semiconductor products

3,562

Non-GAAP gross profit

9,006

7,129

6,325

22,728

17,567

GAAP gross margin

Non-GAAP gross margin

Semiconductor Fabrication Solutions Segment Gross Profit:

GAAP gross profit

2,187

2,640

2,807

6,728

4,164

Inventory write-down of mature node semiconductor products

2,424

Non-GAAP gross profit

2,187

2,640

2,807

6,728

6,588

GAAP gross margin

Non-GAAP gross margin

AMTECH SYSTEMS, INC.

(NASDAQ: ASYS)

(Unaudited)

Reconciliation of GAAP to Non-GAAP Financial Measures

(in thousands, except per share data)

Three Months Ended

Nine Months Ended June 30,

June 30,

2026

March 31, 2026

June 30,

2025

2026

2025

Consolidated Net Income (Loss):

GAAP net income (loss)

1,658

1,166

106

2,932

(31,394

)

Disposal of fixed assets from sublease

ROU asset impairment

151

Inventory write-down of mature node semiconductor products

5,986

Amortization of acquired intangible assets

242

Stock compensation expense

394

328

338

971

961

Goodwill impairment

20,353

Intangible asset impairment

2,569

Severance expense

421

678

Non-GAAP net income (loss)

2,363

1,521

892

4,268

(605

)

Net Income (Loss) per Diluted Share:

GAAP net income (loss) per diluted share

0.10

0.08

0.01

0.19

(2.20

)

Disposal of fixed assets from sublease

0.01

ROU asset impairment

0.01

Inventory write-down of mature node semiconductor products

0.42

Amortization of acquired intangible assets

0.01

0.02

Stock compensation expense

0.02

0.06

0.07

Goodwill impairment

1.42

Intangible asset impairment

0.18

Severance expense

0.03

0.05

Non-GAAP net income (loss) per diluted share

0.14

0.10

0.06

0.28

(0.04

)

AMTECH SYSTEMS, INC.

(NASDAQ: ASYS)

(Unaudited)

Reconciliation of Net Income to EBITDA and Adjusted EBITDA

(in thousands, except per share data)

Three Months Ended

Nine Months Ended June 30,

June 30,

2026

March 31, 2026

June 30,

2025

2026

2025

Amtech Systems, Inc. EBITDA:

GAAP net income

1,658

1,166

106

2,932

(31,394

)

Interest income

(273

)

(116

)

(88

)

(504

)

(119

)

Interest expense

Income tax provision

616

502

799

1,699

1,516

Depreciation and amortization expense

620

627

594

1,861

2,167

EBITDA

2,623

2,187

1,416

6,006

(27,811

)

Disposal of fixed assets from sublease

ROU asset impairment

151

Inventory write-down of mature node semiconductor products

5,986

Stock compensation expense

394

328

338

971

961

Goodwill impairment

20,353

Intangible asset impairment

2,569

Severance expense

421

678

Adjusted EBITDA

3,301

2,515

2,175

7,261

2,736

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