Exhibit 99.1

News Release

Axcelis Announces Financial Results for Third Quarter 2026

Q3 2026 Highlights:

Revenue of $237.8 million

GAAP Gross Margin of 41.0%, and Non-GAAP Gross Margin of 41.2%

GAAP Operating Margin of 11.5% and Non-GAAP Operating Margin of 16.6%

GAAP Diluted Earnings Per Share of $1.21, and Non-GAAP Diluted Earnings Per Share of $1.26

BEVERLY, Mass., Nov. 5, 2026—Axcelis Technologies, Inc. (Nasdaq: ACLS) today announced financial results for the third quarter ended September 30, 2026.

President and CEO Russell Low commented, “We are pleased with our third quarter performance, as improving demand drove sequential growth in systems revenue, complemented by another quarterly record in CS&I. We are particularly encouraged by the strong increase in bookings, reflecting a broadening recovery across our end markets, with continued momentum in Memory and increasing activity in Power and General Mature. At the same time, we continue to see sustained strength in our CS&I business."

Low added, "Our strategy of investing in next-generation technologies is beginning to yield tangible results and positions us well to capitalize on expanding market opportunities as customer investment recovers. We expect to finish 2026 with positive momentum and anticipate further growth in 2027."

Senior Vice President and Interim CFO David Ryzhik stated, “Our third quarter results exceeded our expectations, supported by stronger shipments and record CS&I revenue, despite the impact from foreign exchange headwinds on our gross margin. We continue to generate healthy cash flow and maintain a strong balance sheet, providing us with ample financial flexibility. The combination of improving demand, a growing installed base and continued strength in CS&I provides a solid foundation as we enter 2027."

Results Summary
(In thousands, except per share amounts and percentages)

	Three months ended September 30,
	2026			2025
Revenue	$	237,781		$	213,611
Gross margin		41.0	%		41.6	%
Operating margin		11.5	%		11.7	%
Net income	$	37,759		$	25,986
Diluted earnings per share	$	1.21		$	0.83

News Release

Non-GAAP Results

	Three months ended September 30,
	2026			2025
Non-GAAP gross margin		41.2	%		41.8	%
Non-GAAP operating margin		16.6	%		18.2	%
Adjusted EBITDA	$	44,047		$	43,202
Non-GAAP net income	$	39,215		$	37,900
Non-GAAP diluted earnings per share	$	1.26		$	1.21

Business Outlook

For the fourth quarter ending December 31, 2026, Axcelis expects revenues of approximately $275 million, GAAP earnings per diluted share of approximately $1.15, and non-GAAP earnings per share of approximately $1.50.

Please refer to Fourth Quarter 2026 Outlook under the “Notes on our Non-GAAP Financial Information” section of this document for detail relating to the computation of non-GAAP earnings per diluted share as well as the Safe Harbor Statement section of this document.

Third Quarter 2026 Conference Call

The Company will host a call to discuss the results for the third quarter 2026 today at 8:30 a.m. ET. The call will be available via webcast that can be accessed through the Investors page of Axcelis' website at www.axcelis.com, or by registering as a participant here:

https://register-conf.media-server.com/register/BI02437563728a4138be5d107cd344f382
Webcast replays will be available for 30 days following the call.

Use of Non-GAAP Financial Results

This press release includes financial measures that are not presented in accordance with U.S. generally accepted accounting principles (“non-GAAP financial measures”). These non-GAAP financial measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP other income, non-GAAP income tax provision, Adjusted EBITDA, non-GAAP net income, and non-GAAP diluted earnings per share, and reflect adjustments for the impact of share-based compensation expense, certain items related to restructuring and severance charges and any associated adjustments and transaction and integration costs associated with the merger agreement with Veeco Instruments announced on October 1, 2025.

Reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are provided in the financial tables included in this release.

For further information regarding these non-GAAP financial measures, please refer to the tables presenting reconciliations of our non-GAAP results to our GAAP results and the “Notes on Our Non-GAAP Financial Information” at the end of this press release.

News Release

Safe Harbor Statement

This press release contains, and the conference call will contain, forward-looking statements under the Private Securities Litigation Reform Act safe harbor provisions. These statements, which include our expectations for spending in our industry and guidance for future financial performance, are based on management’s current expectations and should be viewed with caution. They are subject to various risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are outside the control of the Company, including that customer decisions to place orders or our product shipments may not occur when we expect, that orders may not be converted to revenue in any particular quarter, or at all, whether demand will continue for the semiconductor equipment we produce or, if not, whether we can successfully meet changing market requirements, and whether we will be able to maintain continuity of business relationships with and purchases by major customers. Increased competitive pressure on sales and pricing, increases in material and other production costs that cannot be recouped in product pricing and instability caused by changing global economic, political or financial conditions, including with respect to the imposition of tariffs on our products or components of our products, could also cause actual results to differ materially from those in our forward-looking statements. These risks and other risk factors relating to Axcelis are described more fully in the most recent Form 10-K filed by Axcelis and in other documents filed from time to time with the Securities and Exchange Commission.

About Axcelis

Axcelis (Nasdaq: ACLS), headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for over 45 years. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process. Learn more about Axcelis at www.axcelis.com.

CONTACTS:

Investor Relations Contact:

David Ryzhik

Senior Vice President and Interim CFO

Telephone: (978) 787-2352

Email: David.Ryzhik@axcelis.com

Press/Media Relations Contact:

Maureen Hart

Senior Director, Corporate & Marketing Communications

Telephone: (978) 787-4266

Email: Maureen.Hart@axcelis.com

News Release

Axcelis Technologies, Inc.

Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

	Three months ended						Nine months ended
	September 30,						September 30,
	2026			2025			2026			2025
Revenue		237,781			213,611			651,912			600,718
Cost of revenue		140,357			124,805			382,717			335,802
Gross profit		97,424			88,806			269,195			264,916
Operating expenses:
Research and development		30,177			24,640			87,670			78,832
Sales and marketing		16,834			15,838			53,742			45,965
General and administrative		23,070			23,308			72,208			56,976
Total operating expenses		70,081			63,786			213,620			181,773
Income from operations		27,343			25,020			55,575			83,143
Other income (expense):
Interest income		7,422			5,465			16,459			16,547
Interest expense		(1,960	)		(1,305	)		(4,514	)		(4,028	)
Other, net		3,203			970			4,461			2,569
Total other income		8,665			5,130			16,406			15,088
Income before income taxes		36,008			30,150			71,981			98,231
Income tax (benefit) provision		(1,751	)		4,164			1,717			12,290
Net income	$	37,759		$	25,986		$	70,264		$	85,941
Net income per share:
Basic	$	1.22		$	0.83		$	2.28		$	2.70
Diluted	$	1.21		$	0.83		$	2.26		$	2.70
Shares used in computing net income per share:
Basic weighted average shares of common stock		30,882			31,287			30,804			31,796
Diluted weighted average shares of common stock		31,105			31,450			31,089			31,863

Beginning in the third quarter of 2026, Axcelis will no longer separately present revenue and cost of revenue attributable to Services, which represents a small percentage of Axcelis’ overall business.

News Release

Axcelis Technologies, Inc.

Consolidated Balance Sheets

(In thousands, except per share amounts)

(Unaudited)

	September 30,			December 31,
	2026			2025
ASSETS
Current assets:
Cash and cash equivalents	$	190,769		$	145,451
Short-term investments		281,588			228,802
Accounts receivable, net		154,713			168,479
Inventories, net		376,341			329,010
Prepaid income taxes		7,604			4,658
Prepaid expenses and other current assets		88,935			66,802
Total current assets		1,099,950			943,202
Property, plant and equipment, net		59,468			56,146
Operating lease assets		27,993			28,927
Finance lease assets, net		13,198			14,154
Long-term restricted cash		10,638			10,627
Deferred income taxes		79,268			79,895
Long-term investments		142,982			182,396
Other assets		44,015			46,004
Total assets	$	1,477,512		$	1,361,351
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	78,632		$	42,309
Accrued compensation		28,103			34,233
Warranty		10,615			9,516
Income taxes		5,873			11,383
Deferred revenue		95,620			65,494
Current portion of finance lease obligation		1,799			1,575
Other current liabilities		27,755			33,150
Total current liabilities		248,397			197,660
Long-term finance lease obligation		39,367			40,754
Long-term deferred revenue		42,424			43,445
Other long-term liabilities		34,090			44,815
Total liabilities		364,278			326,674

Stockholders’ equity:
Common stock, $0.001 par value, 75,000 shares authorized; 30,884 shares issued and outstanding at September 30, 2026; 30,717 shares issued and outstanding at December 31, 2025		31			31
Additional paid-in capital		542,467			533,309
Retained earnings		573,803			503,539
Accumulated other comprehensive loss		(3,067	)		(2,202	)
Total stockholders’ equity		1,113,234			1,034,677
Total liabilities and stockholders’ equity	$	1,477,512		$	1,361,351

News Release

Axcelis Technologies, Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

	Three months ended						Nine months ended
	September 30,						September 30,
	2026			2025			2026			2025
Cash flows from operating activities
Net income	$	37,759		$	25,986		$	70,264		$	85,941
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		4,489			4,328			13,364			13,152
Stock-based compensation expense		6,467			5,344			17,791			15,668
Other		(11,324	)		6,907			(8,165	)		(4,110	)
Change in other assets and liabilities, net		2,830			2,785			(16,521	)		14,221
Net cash provided by operating activities		40,221			45,350			76,733			124,872

Cash flows from investing activities
Expenditures for property, plant and equipment and capitalized software		(2,504	)		(2,015	)		(7,897	)		(8,960	)
Other changes in investing activities, net		(3,644	)		3,393			(14,987	)		46,194
Net cash (used in) provided by investing activities		(6,148	)		1,378			(22,884	)		37,234

Cash flows from financing activities
Repurchase of common stock		—			(32,335	)		—			(95,850	)
Other changes from financing activities, net		(558	)		(440	)		(9,806	)		(4,022	)
Net cash used in financing activities		(558	)		(32,775	)		(9,806	)		(99,872	)

Effect of exchange rate changes on cash and cash equivalents		2,263			(106	)		1,286			1,829
Net increase in cash, cash equivalents and restricted cash		35,778			13,847			45,329			64,063

Cash, cash equivalents and restricted cash at beginning of period		165,629			181,280			156,078			131,064
Cash, cash equivalents and restricted cash at end of period	$	201,407		$	195,127		$	201,407		$	195,127

News Release

Axcelis Technologies, Inc.

Schedule Reconciling Selected Non-GAAP Financial Measures

(In thousands, except per share amounts)

	Three months ended September 30,						Nine months ended September 30,
	2026			2025			2026			2025
GAAP gross Profit	$	97,424		$	88,806		$	269,195		$	264,916
Restructuring¹		—			—			—			226
Stock-based compensation		605			499			1,802			1,421
Non-GAAP gross profit	$	98,029		$	89,305		$	270,997		$	266,563
Non-GAAP gross margin		41.2	%		41.8	%		41.6	%		44.4	%

GAAP operating expense	$	70,081		$	63,786		$	213,620		$	181,773
Transaction and integration²		(4,967	)		(8,274	)		(20,192	)		(8,274	)
Bad debt expense		—			—			(65	)		—
Restructuring¹		—			(236	)		—			(1,130	)
Other³		(781	)		—			(781	)		—
Stock-based compensation		(5,862	)		(4,845	)		(15,989	)		(14,247	)
Non-GAAP operating expense	$	58,471		$	50,431		$	176,593		$	158,122

GAAP operating income	$	27,343		$	25,020		$	55,575		$	83,143
Transaction and integration²		4,967			8,274			20,192			8,274
Bad debt expense		—			—			65			—
Restructuring¹		—			236			—			1,356
Other³		781			—			781			—
Stock-based compensation		6,467			5,344			17,791			15,668
Non-GAAP operating income	$	39,558		$	38,874		$	94,404		$	108,441
Non-GAAP operating margin		16.6	%		18.2	%		14.5	%		18.1	%

GAAP other income (expense)	$	8,665		$	5,130		$	16,406		$	15,088
Discrete tax related items⁴		(1,726	)		—			(1,726	)		—
Non-GAAP other income	$	6,939		$	5,130		$	14,680		$	15,088

GAAP income tax (benefit) provision	$	(1,751	)	$	4,164		$	1,717		$	12,290
Discrete tax related items⁴		7,565			—			7,565			—
Income tax effect of non-GAAP adjustments⁵		1,468			1,940			5,194			3,542
Non-GAAP income tax provision	$	7,282		$	6,104		$	14,476		$	15,832
GAAP net income	$	37,759		$	25,986		$	70,264		$	85,941
Transaction and integration²		4,967			8,274			20,192			8,274
Bad debt expense		—			—			65			—
Restructuring¹		—			236			—			1,356
Other³		781			—			781			—
Discrete tax related items⁴		(9,291	)		—			(9,291	)		—
Stock-based compensation		6,467			5,344			17,791			15,668
Income tax effect of non-GAAP adjustments⁵		(1,468	)		(1,940	)		(5,194	)		(3,542	)
Non-GAAP net income	$	39,215		$	37,900		$	94,608		$	107,697
GAAP diluted EPS	$	1.21		$	0.83		$	2.26		$	2.70
Transaction and integration²		0.16			0.26			0.65			0.26
Bad debt expense		—			—			—			—
Restructuring¹		—			0.01			—			0.04
Other³		0.03			—			0.03			—
Discrete tax related items⁴		(0.30	)		—			(0.30	)		—
Stock-based compensation		0.21			0.17			0.57			0.49
Income tax effect of non-GAAP adjustments⁵		(0.05	)		(0.06	)		(0.17	)		(0.11	)
Non-GAAP diluted EPS	$	1.26		$	1.21		$	3.04		$	3.38

Note 1: Restructuring and other costs primarily related to early retirement programs and severance costs, due to global cost-saving initiatives.

Note 2: Transaction and integration costs include expenses associated with the merger agreement with Veeco Instruments, announced on October 1, 2025.

Note 3. Other costs include miscellaneous tax related items.

Note 4. Discrete items related to tax audits, including changes in uncertain tax positions and associated interest and penalties.

Note 5. Impact of taxes from non-GAAP adjustments, uses adjusted tax rate of 14%.

Figures may not sum due to rounding.

News Release

Axcelis Technologies, Inc.

Reconciliation of Net Income to Adjusted EBITDA

(In thousands, except percentages)

	Three months ended September 30,						Nine months ended September 30,
	2026			2025			2026			2025
Net Income	$	37,759		$	25,986		$	70,264		$	85,941
Other (income) expense		(8,665	)		(5,130	)		(16,406	)		(15,088	)
Income tax (benefit) provision		(1,751	)		4,164			1,717			12,290
Depreciation & amortization		4,489			4,328			13,364			13,152
Subtotal		31,832			29,348			68,939			96,295
Transaction and integration¹		4,967			8,274			20,192			8,274
Bad debt expense		—			—			65			—
Restructuring²		—			236			—			1,356
Other³		781			—			781			—
Stock-based compensation		6,467			5,344			17,791			15,668
Adjusted EBITDA	$	44,047		$	43,202		$	107,768		$	121,593
Adjusted EBITDA margin		18.5	%		20.2	%		16.5	%		20.2	%

Note 1: Transaction and integration costs include expenses associated with the merger agreement with Veeco Instruments, announced on October 1, 2025.

Note 2: Restructuring and other costs primarily related to early retirement programs and severance costs, due to global cost-saving initiatives.

Note 3. Other costs include miscellaneous tax related items.

Axcelis Technologies, Inc.
Fourth Quarter 2026 Outlook
GAAP to Non-GAAP Diluted Earnings Per Share

	Three months ended December 31, 2026
GAAP diluted EPS	$	1.15
Transaction and Integration¹		0.19
Stock-based compensation		0.22
Income tax effect of non-GAAP adjustments²		(0.06	)
Non-GAAP diluted EPS	$	1.50

Note 1: Transaction and Integration costs include expenses associated with the merger agreement with Veeco Instruments, announced on October 1, 2025.

Note 2: Impact of taxes from non-GAAP adjustments, uses adjusted tax rate of 14%.