Camtek Reports Record Q3 2025 Revenue of $126 Million, Driven by AI Demand

November 10, 2025
Camtek Ltd. reported record third-quarter 2025 revenue of $126 million, a 12% year-over-year increase, with strong growth attributed to demand for high-performance computing for AI applications.

Camtek Ltd. reported record financial results for the third quarter of 2025, announced in a press release. The company recorded $126 million in revenue, a 12% increase year-over-year, with a GAAP gross margin of 50% and non-GAAP gross margin of 51.5%.

GAAP operating income reached $31.8 million, up 8% from the same quarter last year, while non-GAAP operating income rose 10% to $37.6 million. Despite these gains, Camtek reported a GAAP net loss of $53.2 million, or $1.16 per share, due to a one-time $89 million capital loss related to the repurchase of convertible notes. On a non-GAAP basis, net income was $40.9 million, or $0.82 per diluted share.

During the quarter, Camtek raised $500 million through a new convertible notes offering and generated $34 million in operating cash flow. The company ended the quarter with $794 million in cash and marketable securities.

Camtek expects fourth-quarter 2025 revenue to reach approximately $127 million, which would bring full-year revenue to about $495 million — a 15% increase from 2024. CEO Rafi Amit said the company anticipates continued growth into 2026, supported by rising demand for AI-related computing and data center investments.

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