Amtech Systems, Inc. reported its financial results for the fourth quarter and full fiscal year ended September 30, 2024. For Q4 FY24, net revenues were $24.1 million, marking a 13% decrease from the prior year and a 10% sequential decline. The company posted a GAAP net loss of $0.5 million, or $0.04 per diluted share, and a non-GAAP net loss of $7,000, or $0.00 per diluted share.
Despite revenue declines, Amtech achieved its fourth consecutive quarter of positive adjusted EBITDA, reaching $0.8 million in Q4 FY24. For the full fiscal year 2024, net revenues totaled $101.2 million, with a GAAP net loss of $8.5 million and a non-GAAP net income of $43,000. The company also reported $4.0 million in adjusted EBITDA for the full year.
A significant financial achievement was the full repayment of the company's remaining debt, totaling $10.7 million, during fiscal year 2024. Management also highlighted actions taken during the year to reduce structural costs by approximately $7 million annually, aiming to improve profitability through market cycles. For the first fiscal quarter ending December 31, 2024, Amtech expects revenues in the range of $21 million to $24 million, with adjusted EBITDA projected to be nominally positive.
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