Camtek beats analysts, raises guidance but stock falls sharply

Israeli technology company Camtek (Nasdaq: CAMT; TASE: CAMT), which develops and manufactures inspection and metrology equipment for the semiconductor industry, has reported higher revenue and profit than analysts’ expectations and raised guidance for the second half of 2026. Despite this the company’s share price opened 14.44% lower on Nasdaq.

Camtek reported revenue of $122 million in the first quarter of 2026, 2.5% higher than the corresponding quarter of 2025 and $1.4 million above the analysts’ forecast. Non-GAAP net profit in ther first quarter was $35.3 million, down from $38.7 million in the corresponding quarter of 2025, and earnings per share was $0.70, $0.02 above the analysts’ predictions.

The company generated $3.1 million from operating activities in the quarter, and at the end of the quarter had cash and investments totaling about $850 million.

Camtek sees revenue of $129-131 million in the second quarter, higher than the analysts’ estimates of $126 million. The company says it expects a revenue growth of more than 25% in the second half of 2026 compared with the first half of the year. The company expects to end the first half of 2025 with revenue of about $252 million (according to the forecast provided for the second quarter), while in the second half Camtek sees revenue reaching approximately $315 million, meaning revenue in 2026 would be 14% higher than in 2025 – above the analysts’ current forecasts.

The sharp decline in Camtek’s share price today can be explained by the forecast not being seen as strong enough after such a large jump in the stock, which has climbed by over 130% in the last 12 months.

Cantor estimated yesterday ahead of Camtek’s results that the numbers would be higher than forecast, given the strength of the market. According to Cantor, Camtek would have to present an annual growth forecast of at least 25% for it to satisfy the market.

Camtek CEO Rafi Amit said, “I’m pleased to share that we have experienced an unprecedented start to the year in terms of incoming orders. This exceptional demand has substantially improved our confidence regarding the results over the remainder of 2026 and provides us with a strong foundation as we already start to look ahead into 2027.”

He added, “Camtek continues to invest heavily in innovation in advanced AI-based algorithms and software capabilities. Leveraging our dedicated AI expert team and our strategic collaboration with Visual Layer whose acquisition we recently closed, we have developed additional cutting-edge capabilities in detection, metrology, and classification. These new capabilities are already demonstrating breakthrough performance, and we believe will further strengthen our competitive edge.”