Axcelis Technologies, Inc.

Company overview

Axcelis designs, manufactures, and services ion implantation and related processing equipment used in semiconductor chip fabrication. The company also provides aftermarket lifecycle products and services, spare parts, upgrades, maintenance, training, and used tools.

Product families

• Purion: flagship ion implanters (high current, high energy, medium current) built on a common platform with advanced wafer handling and spot-beam architectures.
• Ovation: multi-wafer (batch) implanters, extending the GSD platform with improved reliability and serviceability.
• Purion Power Series: high-current/medium-current/high-energy implanters optimized for power devices on SiC wafers.

Aftermarket and services

• CS&I (Customer Solutions & Innovation) offers lifecycle products and services, including used tools, spare parts, upgrades, maintenance, training, and online tools.

Business scope

• Designs, manufactures, and services ion implantation and related processing equipment for semiconductor fabrication.
• Provides aftermarket lifecycle products and services covering spare parts, upgrades, maintenance, training, and used tools.

Financials and key 2025 figures

• Total revenue: $839.0 million (2024: $1,017.9 million).
• Systems revenue (equipment): $571.0 million (2024: $782.6 million).
• Aftermarket/CS&I revenue: $268.0 million (31.9% of total revenue; 2024: 23.1%; 2023: 21.8%).
• Gross margin: 44.9% in 2025 (2024: 44.7%).
• Operating profit: $119.3 million in 2025 (2024: $210.8 million).
• Net income: $120.2 million in 2025 (2024: $201.0 million).
• Research and development: $109.0 million in 2025 (13.0% of revenue; 2024: 10.4%).
• Backlog (including deferred systems revenue): $457.0 million (2024: $645.8 million).
• Quarterly bookings (quarter ended Dec 31, 2025): $127.6 million (Dec 31, 2024: $84.5 million).

Customer concentration and geographic profile

• Top ten customers accounted for 55.2% of net sales in 2025.
• One customer accounted for 11.0% of consolidated revenues in 2025.
• TechInsights data indicates the top 20 semiconductor capital equipment customers accounted for about 86.4% of total semiconductor capex spending in 2025.
• International revenue: 83.7% of total revenue in 2025.
• System revenue shipments to Asia: 76.0% of total system revenue in 2025.
• 88.6% of 2025 sales were denominated in U.S. dollars.

Global footprint and facilities

• Beverly, Massachusetts: 417,000 sq ft (manufacturing, R&D, sales/marketing, customer support, training, headquarters).
• Axcelis Logistics Center (Beverly): 101,800 sq ft.
• Axcelis Asia Operations Center (South Korea): 38,000 sq ft.
• Owns 23 acres of undeveloped property in Beverly, MA.
• Certifications: Beverly facility and Asia Operations Center hold ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.
• Operations and customers in 27 countries; manufacturing and service footprint aligned with international demand.

Workforce

• As of December 31, 2025: total employees and agency temporary staff: 1,465 employees + 50 temporary staff.
• Geographic distribution: 1,038 in North America, 398 in Asia, 79 in Europe.
• Company emphasizes attraction and retention of engineering and technical talent and provides extensive training programs, including cybersecurity and ethics training.

Intellectual property

• 169 active U.S. patents and 356 active patents in other countries.
• 167 patent applications on file (81 in the U.S., 86 abroad).
• IP strategy includes licensing arrangements, patent protection (up to 20 years from filing), trade secrets, and contractual protections.

Market and competition

• Primary competitors for ion implantation: Applied Materials (largest direct competitor) and regional players such as Sumitomo Heavy Industries Ion Technology, Nissin Ion Equipment, Advanced Ion Beam Technology, Kingstone Semiconductor, CETC Electronics Equipment Group, and others.
• Aftermarket competition includes many regional or third-party service and parts providers.

Inventory, supply chain and operations

• Global supplier network with reliance on limited supplier groups for certain components, which can affect costs, lead times, and availability.
• Export controls and geopolitical risks are factors, including U.S. export controls on shipments to China and ongoing regulatory developments.
• Manufacturing approach: modular “ship-from-cell” manufacturing and testing, with in-house system assembly and testing and non-core components sourced externally.

ESG and environment

• Emphasizes sustainability reporting and certifications and participates in SEMI’s Semiconductor Climate Consortium.
• Environmental, health, and safety compliance is embedded in operations with ongoing certifications and governance.

Executive leadership

• Russell J. Low, Ph.D. – CEO and Director (since 2023)
• James G. Coogan – Executive Vice President and CFO (since 2023)
• Gerald M. Blumenstock – Executive Vice President, R&D and Engineering (since 2023)
• Eileen J. Evans – Executive VP, HR/Legal, and General Counsel (since 2025)
• Gregory F. Redinbo – Executive VP, Marketing and Applications (since 2022)
• Christopher J. Tatnall – Executive VP, Global Customer Operations (since 2023)
• Robert J. Mahoney – Executive VP, Global Operations (since 2025)

Operational details

• Revenue primarily generated from international customers (83.7% of revenue in 2025).
• Ion implant systems represented 98.2% of revenue in 2025; aftermarket activities represented 1.8%.
• The company aims to maintain manufacturing discipline and reduce cost through design-for-X, supplier diversification, and continued product enhancements.