NASDAQ$CAMT
Camtek Ltd · Q1 2026 earnings
Q1 2026 earnings · · Before market open · Investor relations
Briefing
Camtek Q1 2026: $121.7M revenue, $0.63 GAAP EPS; guides Q2 to $129-131M
Camtek Ltd. reported Q1 2026 revenue of $121.7 million, up 2.5% from $118.6 million, as semiconductor inspection demand remained steady ahead of an expected second-half acceleration. GAAP gross margin was 50.1% and non-GAAP gross margin 51.0%; GAAP operating income was $27.3 million (22.4% margin) versus $32.7 million prior year on higher R&D and SG&A. Net income was $31.6 million, or $0.63 diluted EPS, compared with $34.3 million and $0.70 a year ago; non-GAAP net income was $35.3 million, or $0.70 per share. CEO Rafi Amit highlighted unprecedented order momentum and guided Q2 revenue to $129-131 million, with second-half 2026 revenue expected to grow more than 25% versus the first half. Cash, deposits, and marketable securities totaled $849.7 million at quarter-end, and operating cash flow was $3.1 million. The company continues investing in AI-based inspection algorithms following its Visual Layer acquisition.
- Revenue was $121.7M (+2.5% YoY); GAAP net income $31.6M and diluted EPS $0.63; non-GAAP EPS $0.70.
- GAAP operating income was $27.3M (22.4% margin); non-GAAP operating income $31.1M (25.5% margin).
- Q2 2026 revenue guidance is $129-131M; management expects H2 revenue up more than 25% vs H1 on strong orders.
- Cash, deposits, and marketable securities totaled $849.7M; operating cash flow $3.1M in the quarter.
- R&D rose to $14.3M from $10.4M as Camtek invests in AI inspection and Visual Layer integration.
Headline financials
Revenue & EPS history
Camtek · Revenue · Quarterly
$122M
Revenue by segment
Camtek · $122M total across 1 segment · Q1 2026
- Semiconductor inspection and metrology systems$122M—100.0%
Forward guidance
Camtek guided Q2 2026 revenue to $129-131 million and expects second-half 2026 revenue to grow more than 25% versus the first half based on backlog and order momentum.
Tailwinds
- Unprecedented start to 2026 order intake supports H2 revenue surge
- Strong balance sheet with $849.7M in cash and investments
Headwinds
- GAAP operating income down 17% YoY on higher R&D and SG&A
- Middle East conflict and trade policy risks cited as uncertainties
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
-1.4%
Avg return
Earnings day
-1.7%
Avg return
5 days after
+0.9%
Avg return
30 days after
40%
23 / 57 earnings
Positive
+13.2%
Q1 2017
Best reaction
-19.9%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -15.9% | -19.0% | — | |
| Q4 2025 | +0.5% | -2.5% | +5.7% | |
| Q3 2025 | -6.7% | -19.2% | +1.7% | |
| Q2 2025 | -8.7% | -14.1% | -19.2% | |
| Q1 2025 | -0.9% | -4.7% | +6.1% | |
| Q4 2024 | -0.4% | -0.7% | -24.6% | |
| Q3 2024 | +1.5% | -5.9% | -6.3% | |
| Q2 2024 | -19.9% | -18.1% | -13.3% | |
| Q1 2024 | +7.2% | +11.5% | +29.7% | |
| Q3 2023 | -4.7% | -5.7% | -4.6% | |
| Q2 2023 | -0.5% | -0.7% | +24.7% | |
| Q1 2023 | -4.3% | +0.5% | +13.6% | |
| Q4 2022 | +1.9% | -1.6% | +1.0% | |
| Q3 2022 | -5.1% | -4.7% | -8.8% | |
| Q2 2022 | +1.4% | +3.2% | -1.3% | |
| Q1 2022 | +3.5% | +4.6% | -0.6% | |
| Q4 2021 | -8.8% | -3.2% | -22.6% | |
| Q3 2021 | -7.0% | -1.3% | +7.4% | |
| Q2 2021 | -0.7% | +2.9% | +12.2% | |
| Q1 2021 | +1.7% | -1.3% | +6.9% | |
| Q4 2020 | -4.3% | +1.7% | +0.8% | |
| Q3 2020 | -0.4% | -1.6% | +2.9% | |
| Q2 2020 | -2.9% | -1.5% | -2.9% | |
| Q1 2020 | +3.2% | +4.8% | +14.4% | |
| Q4 2019 | -0.9% | -10.9% | -41.9% | |
| Q3 2019 | -8.1% | -6.2% | -3.4% | |
| Q2 2019 | -1.8% | -4.4% | +2.9% | |
| Q1 2019 | -5.3% | -5.8% | -19.7% | |
| Q4 2018 | +11.2% | +12.4% | +12.0% | |
| Q3 2018 | +5.1% | +3.2% | +7.4% | |
| Q2 2018 | -1.4% | -9.9% | -6.9% | |
| Q1 2018 | +4.2% | +7.4% | +18.3% | |
| Q4 2017 | -6.2% | -8.2% | -5.4% | |
| Q3 2017 | +7.8% | +5.1% | -1.1% | |
| Q2 2017 | -4.1% | -4.5% | -12.8% | |
| Q1 2017 | +13.2% | +16.6% | +43.9% | |
| Q4 2016 | +5.8% | +3.6% | +5.0% | |
| Q3 2016 | +2.8% | +2.5% | +7.4% | |
| Q2 2016 | +4.1% | +11.0% | +4.1% | |
| Q1 2016 | -18.4% | — | — | |
| Q4 2015 | +4.0% | — | — | |
| Q3 2015 | -0.4% | — | — | |
| Q2 2015 | -1.7% | — | — | |
| Q1 2015 | +0.3% | — | — | |
| Q4 2014 | +2.3% | — | — | |
| Q1 2013 | -6.8% | — | — | |
| Q4 2012 | -3.6% | — | — | |
| Q2 2012 | -2.8% | — | — | |
| Q1 2012 | +3.7% | — | — | |
| Q4 2011 | -7.2% | — | — | |
| Q4 2010 | -7.2% | — | — | |
| Q4 2009 | -7.2% | — | — | |
| Q3 2011 | +9.3% | — | — | |
| Q2 2011 | +0.9% | — | — | |
| Q1 2011 | -2.2% | — | — | |
| Q2 2010 | +1.3% | — | — | |
| Q1 2010 | +0.0% | — | — |
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