Amtech Systems, Inc. reported its financial results for the second fiscal quarter ended March 31, 2025, with net revenues of $15.6 million. This revenue figure aligns with the company's revised guidance but represents a 39% decrease from the same period in fiscal 2024 and a 36% sequential decline.
The company recorded a substantial GAAP net loss of $31.8 million, or $2.23 per diluted share, primarily due to significant non-cash impairment charges. Non-GAAP net loss for the quarter was $2.3 million, or $0.16 per diluted share, and adjusted EBITDA was negative $1.4 million.
Amtech recognized $22.9 million in impairment charges during the quarter, including $15.3 million in goodwill and $2.6 million in intangible asset impairment in its Semiconductor Fabrication Solutions segment, and $5.0 million in goodwill impairment in its Thermal Processing Solutions segment. Additionally, the company incurred $6.0 million in non-cash inventory write-downs due to sustained weak demand from mature node semiconductor customers.
Despite these financial setbacks, Amtech's cash and cash equivalents increased to $13.4 million at March 31, 2025, reflecting a focus on operational cash generation. The company continues to experience strong demand for semiconductor packaging equipment that supports AI infrastructure builds. For the third fiscal quarter ending June 30, 2025, Amtech expects revenues in the range of $16 million to $19 million, with adjusted EBITDA projected to be nominally neutral.
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