How did Camtek (NASDAQ:CAMT) perform in the full year 2025?

Camtek delivered record-breaking results, officially hitting its "half-billion dollar" run-rate milestone. The company reported full-year revenue of $496.1 million, a 16% increase over 2024. This growth was primarily fueled by the explosion in High-Performance Computing (HPC) and AI applications, which accounted for approximately 45% of total revenue.

What were the key drivers of the 2025 earnings beat?

The primary catalyst was the surge in demand for Advanced Packaging tools. As chipmakers race to build AI-capable hardware, they require Camtek’s specialized inspection and metrology systems for: High-Bandwidth Memory (HBM): Critical for GPU performance (e.g., NVIDIA H100/B200). Chiplets and Heterogeneous Integration: Technologies that allow multiple smaller chips to work as one. New Product Adoption: The recently launched Eagle G5 and Hawk systems were exceptionally well-received, contributing roughly 30% of the year's revenue.

What is the "Hawk" system, and why is it important for 2026?

The Hawk platform is Camtek's high-throughput inspection tool specifically designed for advanced packaging. Just days before the earnings report, Camtek announced a $25 million order for Hawk systems from a tier-1 manufacturer. These systems are essential for the transition to HBM4 and advanced "hybrid bonding" techniques, positioning Camtek as a "must-have" supplier for the next generation of AI chips.

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Camtek reports record $496M revenue in 2025

Written by Heidi Cuthbert Published Feb 18, 2026, 11:30 AMLast Updated Jul 6, 2026, 10:45 AM

Camtek (NASDAQ:CAMT) reported record-breaking fourth-quarter and full-year 2025 results on Feb. 18, 2026, officially crossing its long-held "half-billion dollar" revenue target.

The Israeli semiconductor metrology specialist posted full-year revenue of $496.1 million, a 16% increase over 2024, as the race to build high-performance AI chips fueled an industry-wide upgrade cycle for advanced packaging tools.

The fourth quarter saw revenues climb 9% year-over-year to $128.1 million, slightly ahead of management’s own guidance.

Profitability remained high, with non-GAAP gross margins holding steady at 51%.

While full-year GAAP net income fell to $50.7 million—impacted by a one-time $89 million capital loss related to a debt repurchase in the third quarter—the company’s non-GAAP net income, which strips out these financing costs, jumped 15% to $159 million.

Looking ahead, Camtek issued a bullish outlook for 2026, forecasting double-digit revenue growth and projecting that significant capacity expansions by leading chipmakers will drive a second-half acceleration in system deliveries.

Camtek reports record $496M revenue in 2025

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