Q4 2025: Initial view points to similar revenue and gross margin levels vs Q3; Q4 opex expected to increase slightly sequentially (CFO)
Non-GAAP tax rate for balance of 2025: ~15% (CFO)
Guidance includes modest estimated tariff impact (CFO)
Mgmt quotes:
"We delivered solid results in the second quarter with revenue of $195 million and non-GAAP earnings per diluted share of $1.13, both exceeding our outlook." (CEO)
"While customers continue to digest capacity, we are encouraged that first half bookings reflect a slight improvement compared to the second half of 2024." (CEO)
"We continue to see pockets of improved tool utilization, which is an encouraging sign. However, we would need to see this continued coupled with improved end demand in order for this to translate into resumption of capacity investments." (CEO)
"Through the first half of 2025, our CS&I revenue made up approximately 30% of total revenue and is up slightly on a year-over-year basis despite lower systems volumes during this period." (CEO)
"Despite the cyclical softness in our markets, we are pleased with our ability to generate robust profitability, return capital to shareholders and maintain a strong balance sheet." (CFO)