Overview
- Q4 revenue reached $128.1 million and full-year revenue hit $496.9 million, with gross margin around 51%, operating margin near 30%, and cash of $851.1 million.
- For 2026, the company guides double-digit growth with Q1 revenue of about $120 million and performance weighted to the second half.
- Hawk and Eagle G5 platforms accounted for roughly 30% of 2025 revenue and are expected to reach at least 50% in 2026.
- Approximately half of 2025 revenue came from AI-related products, and HBM4-related metrology drove roughly $45 million in customer orders including a recent $25 million booking to support backlog.
- Gross margin is projected at 50.5%–51.5% in the first half with expansion expected in the second half, and operational capacity is being lifted to over $700 million with a new European facility targeted for late 2026.