Besi Q1 Orders More Than Double on AI Packaging Demand

Overview

• Besi reported first-quarter bookings of €269.7 million, up 104.5% from a year earlier, driven by strong demand across markets for its hybrid bonding tools.
• The company posted Q1 revenue of €184.9 million and net income of €51.6 million, increases of 28.3% and 63.8% from the prior year.
• Management guided second-quarter revenue to rise 30% to 40% from Q1 and projected a higher gross margin of 64% to 66% with operating expenses up 0% to 10%.
• Hybrid bonding stacks two chips directly to boost bandwidth and density, a key step for faster AI accelerators that is helping Besi win orders.
• Executives said AI spending is offsetting weaker demand in autos, PCs, and memory, a trend echoed by recent updates from TSMC, ASML, and ASM International.