CAMT 6-K SEC Filing Analysis

Latest settled — T+5d

CAMT ▼ -10.82% at T+5d

NEUTRAL call ✗ call lost -10.82% · α vs SPY -10.89% · entry $174.63 → $155.74

Next anchor: T+20d in 5h

Last close $168.67 (close Jun 8) · -3.41% from $174.63 entry

Entry anchored
May 12, 04:03 AM ET
via Databento tick

T+1d

-3.29%

call -3.29% · α -3.87%

$168.88

settled 28d ago

T+5d

-10.82%

call -10.82% · α -10.89%

$155.74

settled 22d ago

T+20d

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in 5h

T+60d

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in 8w

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Executive Summary

Camtek reported Q1 2026 revenue of $121.7M (+2.5% YoY), but GAAP operating income fell 17% to $27.3M and GAAP net income fell 8% to $31.6M ($0.63 diluted EPS). The company guided Q2 revenue of $129-131M and expects >25% revenue growth in 2H26 vs 1H26 based on strong order momentum, but the reported quarter shows declining profitability despite modest top-line growth.

Actionable Insight

The Q1 print shows a clear divergence: modest revenue growth but declining profitability (operating income -17%, net income -8%). The strong order momentum and >25% 2H26 growth guidance are bullish forward signals, but the reported quarter's earnings miss is a real negative. Watch the Q2 earnings call for order backlog details and margin trajectory — if the 2H26 ramp materializes, the current earnings trough could be a buying opportunity, but the stock may sell off initially on the earnings decline.

Key Facts

Q1 2026 revenue of $121.7M, up 2.5% YoY from $118.6M
GAAP operating income of $27.3M, down 17% YoY from $32.7M
GAAP net income of $31.6M ($0.63 diluted EPS), down 8% YoY from $34.3M ($0.70 diluted EPS)
Non-GAAP net income of $35.3M ($0.70 diluted EPS), down 9% YoY from $38.7M ($0.79 diluted EPS)
Q2 2026 revenue guidance of $129-131M
Company expects >25% revenue growth in 2H26 vs 1H26 based on strong order momentum
Cash and equivalents of $849.7M as of March 31, 2026
Operating cash flow of $3.1M in Q1 2026
GAAP gross margin of 50.1% vs 51.0% in Q1 2025
Non-GAAP gross margin of 51.0% vs 52.1% in Q1 2025

Financial Impact

Q1 revenue $121.7M (+2.5% YoY); GAAP operating income $27.3M (-17% YoY); GAAP net income $31.6M (-8% YoY); Q2 guidance $129-131M

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Risk Factors

Declining operating income and net income despite revenue growth — margin compression is a real concern
Forward guidance of >25% 2H26 growth is aspirational and depends on order conversion — execution risk is high
Operating cash flow of only $3.1M on $121.7M revenue suggests working capital drag or collection issues
Geopolitical risks from Middle East hostilities and potential trade restrictions on semiconductor equipment

Market Snapshot

Exchange

Nasdaq

Sector

Optical Instruments & Lenses

Analyst Consensus

67% bullish (18 analysts)

Documents Analyzed

This report is based on 4 SEC documents filed with EDGAR.

Document	Accession Number
6-K Filing (Primary)	0001178913-26-002569
Document: 0001178913-26-002569-index-headers.html	0001178913-26-002569
Document: 0001178913-26-002569-index.html	0001178913-26-002569
Document: 0001178913-26-002569.txt	0001178913-26-002569

3 reports for CAMT

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for CAMT — sortable, filterable
	Type				Now
Jun 2, 2026 7d ago	6-K BULLISH ★ 7/10	$187.52 $183.45	▼ −2.17%	▼ −1.48%	$168.67 (−10.05%)
May 12, 2026 28d ago	6-K MIXED ★ 6/10	$174.63 $168.88	▼ −3.29%	▼ −3.87%	$168.67 (−3.41%)
Apr 14, 2026 8w ago	6-K BULLISH ★ 7/10	$180.74 $179.55	▼ −0.66%	▼ −1.43%	$168.67 (−6.68%)

US Market Status

Market Closed — Opens in 7h

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