Camtek Expects Third-Quarter Revenue of Up to $161 Million on Strong Orders
Key Facts
Camtek expects revenue for the third quarter of 2026 to range between $160 million and $161 million, according to an October filing with the U.S. Securities and Exchange Commission. The preliminary estimate represents year-on-year growth of 27%, with management's outlook underpinned by strong demand for advanced packaging for artificial intelligence applications. In August, when it reported second-quarter results, the company guided for revenue of between $158 million and $160 million for the same period. The new range therefore starts at the upper end of the previous guidance and exceeds it at the top end, an improvement the company described as slight. Revenue in the third quarter of the previous year was $126.0 million, according to Camtek's financial results for that period.
The expected acceleration in revenue extends into the fourth quarter, for which Camtek issued preliminary guidance of a record approximately $180 million, according to its filing. The company expects that level to represent year-on-year growth of 40%, compared with the estimated third-quarter growth rate. For the full year, management projected 2026 revenue of about $595 million in its updated financial outlook. It also provided an initial outlook for next year with revenue exceeding $800 million, supported by strong demand and its order backlog. Management estimated 2027 revenue growth at "more than 35% compared with 2026," indicating the scale of the expansion it expects for the business.
Camtek said orders received since the start of the year had exceeded $800 million by the October announcement, according to the official filing. The disclosed value of orders received since the start of the year had exceeded $600 million when second-quarter results were released in August. Management linked the order momentum to strength in advanced packaging for artificial intelligence applications, which it identified as the driver of its new forecasts. Camtek develops and manufactures advanced inspection and metrology equipment used in the semiconductor industry, according to the description on its investor relations page. High-end advanced packaging accounts for between 60% and 70% of the company's business, according to its October investor presentation.
Among the orders the company announced in June was a $55 million order for multiple systems from a major outsourced semiconductor assembly and test company. Camtek said in its orders announcement that the systems were intended to support the customer's artificial intelligence applications. The same announcement included other orders worth more than $50 million from a leading high-bandwidth memory manufacturer. The company said those orders were entirely for "Hawk" systems and were also tied to artificial intelligence applications. Camtek identified 2027 as the expected delivery date for the systems covered by the June announcement, under the delivery schedule it presented to customers.
The outlook update follows Camtek's record revenue of $133.2 million in the second quarter of 2026, according to its earnings release. That revenue represented quarter-on-quarter growth of 10%, ahead of the higher revenue range the company guided for in the third quarter. The second quarter also saw the completion of the acquisition of "Visual Layer," according to Camtek's results announcement for the period. On products, the October investor presentation included a plan to begin selling software products during 2027. The company framed that timing as a future plan to begin sales, as part of its presentation on the direction of its business in the coming period.
Over a longer horizon, Camtek outlined a target of reaching annual revenue of $1.2 billion, according to its October 2026 investor presentation. It set a timeframe of approximately 3 years from the presentation date for that target, as part of its vision for business expansion. The company presented the target on an organic growth basis, alongside the preliminary guidance it announced for nearer periods. Third-quarter revenue figures remain preliminary and subject to completion of financial closing procedures, according to the company's filing. Camtek expects to announce its full financial results for that quarter in early November, the next announced date for an update on its financial performance.