Earnings call transcript Q4 2022

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Kenny Green

Ladies and gentlemen, thank you for standing by. I’d like to welcome all of you to Camtek's Results Zoom Webinar. My name is Kenny Green and I am part of the Investor Relations team at Camtek. [Operator Instructions] I would like to remind everyone that this conference call is being recorded and the recording will be available on Camtek’s website from tomorrow.

You should've all received by now the company's press release.

please on not, company’s have you view the it website. If

Ramy we today Eisenberg, Rafi Mr. on me have Camtek's Camtek's the and Moshe With Mr. call, Mr. COO. CEO; Amit, CFO; Langer, Camtek's

begin recent trends. results discuss of will results the quarter. then market by of Moshe overview Rafi Camtek's an and the summarize will financial providing

that, questions. Rafi, take to your Moshe, Following and available Ramy will be

unless certain otherwise I would internal like information that provided begin, everyone are on we Before company remind estimates, specified. call this to

products, may that materially Statements forward-looking call statements. to as to information, actual or future statements related these differ are conditions. risks call a This statements this the of the market company developments contain these identified and countries, covers also well and including for These by of portion customers today's revenues and any forward-looking for timing products, result Risks the in press also and from projected, Changing of of note reduced otherwise. significant the changes its increased change Investors Korea, the with of the events made reductions, Camtek’s release countries. certain effects SEC. are of regarding size update of uncertainties of from Safe filings China the timely those uncertainties are forward-looking other as may and significant our result of to of and But portion that to Camtek events statements call. orders undertakes Please their that of as and industry only statements business to that which whether as subject general expected expectations as a new no reminded conference forward-looking price of market, the cause also future. are on a new Harbor prediction particularly risks in the today and contents and time services obligation passes. demand this contains and the in economic from and deviations in as to including may services in subject concentration statements expectations company's Taiwan a the and the are adoption generate results those or expects these competition foreseeable due trends, from industry risks

useful ongoing forecast of to call, certain non-GAAP of prospects investors measures be this during the and discussed. the management financial by evaluate results, non-GAAP the the presentation and Management today's addition, in assessment will that current is GAAP used earnings A company's release. In decisions, and These included understanding measures believes company's measures future reconciliation for of non-GAAP financial financial future. to to are corporations make full are and events strategic performance.

hand like And with ahead. over call go the please Camtek to that, now I'd Rafi Rafi, Amit, to CEO.

Rafi Amit

segments morning added Good year-over-year. revenues in a quarter Kenny. and our Camtek we or XX revenue base. a good billion, have XXXX, were to now ended our more compound a was for about of interconnect from XX% revenues and XXX and so we packaging Over them operating expect than margin We tripled and the in we revenues. contribute year-over-year. over continued active to row more a came Gross Thanks record $XX XX% afternoon, at applications. doubled revenues XXXX of year accounted revenues our XX% Fourth significantly quarter our expand at of our another of Front-end last increased we record semi came operating of growth. total In The XX.X%. new advanced margin continued profit. everyone. revenues. XX% customers for is fifth years, XX% record $XXX gross customers, two customer than to have million, the In future with This revenues.

The company's our customer and secular trends to to exposure contributed diversified success. multiple territories

high serve DRAM managed which products. increase and business Integration performance Heterogenous it been generation to have the segment in our We in computing for next partly addition, qualified the the has

these continue continues XXXX. inspection expect significant we two to contribute to silicon carbide win been rapidly and Semiconductor specifically grow in revenues to applications different several We able have to market at steps and several Compound customers.

market XXXX, an reported of technologies totaling anticipate machines new installed have XXXX will was introduce to which developed X weeks XXXX. to be we multiple Last capabilities ago, XXXX. in in expand and further our it as Tier win, we few plan our million and position order and several for new We a a $XX manufacturer segments. In increase in entering for products market

was fab XXXX, we have memory yet how end the expected disrupted, at XXXX orders in to being with wafer global it slow is down, new production months cautious affecting Also, chain the receiving US and After on general industry year few equipment which user. challenging China thus a to to specifically production economy semiconductor from Looking years more and influences hesitant entire their industry. from ago, growth be increasing segment. supply restrictions customers before regarding in the a three projected the is capacity see in

half long-term broad from we that and our XX% customers the customer will customers in which in with and the by enable relationships is position equipment, us receiving XXXX. wafer XX% fabrication again also strategic segments, diversified of specific base to signal are to regarding XXXX. We outperform decline expected the However, predicted improvement leading to positive several second in believe

XX% two years, as X% a a receivable. supplying quarter, sales on to focusing a sales the year-over-year decline carefully good the now response efficiency. to such we in levels we which the and systems Regarding items we first After be approximately sheet certain inventory million focus the and on are to last doubling $XX estimate customers, midpoint. $XX and sequentially while at on account of time million, providing company's balance Also, monitoring represents

demand. conclude stating like the Moshe that to will over discussion current to a Moshe? and is financial and hand countries are the We semiconductor address more leading in of it. all the like I our strategic invested details. would more to would results. headcount in Moshe detailed are by adjusting to industry heavily plan for our I expenses

Moshe Eisenberg

record you, In financial non-GAAP issued revenues Thank will between the summary record the The was on end fourth quarter the a increase release increase slightly of Revenues split ahead, quarter at more non-GAAP of the at GAAP XXXX XX% year-over-year. of reconciliation the provide a my a and an The $XXX the follows. million, for for appears previous results Fourth compared the $XX.X with XX% the Rafi were as basis. the than revenue quarter whole came the I of results press tables geographic Amit. year earlier and quarter. today. results million, in

Gross of the for accounted $XX.X The in XX% previous last quarter USA gross Asia and Europe in margin the million. for the margin for year the fourth and XX.X% was versus and the same XX% quarter quarter XX%. quarter. was as

In which our with cannot line customers. pressure to on I fully previous inflationary raw guidance to and continue we labor experience pass on material range,

previous the of This long and However, quarter taking improve we is margin million are gross the by in quarter $XX.X year $XX.X million. as and this reported mid efficiencies were quarter. the impact last in our over steps $XX improving Operating fourth with compared expenses million term. to cost in to result, the a mitigate our

rates million quarter in in QX in Operating the to and XX%, compared quarter fourth of was the $XXX,XXX compared and million last margin the $X year. last balance. year. million, $XX.X profit $XX.X last $X.X of the fourth was million our $XX.X on majority an in similar previous year. and reported QX quarter of relates higher to quarter was million, on Financial interest income Operating increased with to for the deposits increase the significantly quarter The cash to

share. income last or XXXX interest as to Net the of high. for $X.XX quarter was throughout income increase continue $XX financial XXXX of a million, to per the fourth net rates per $X.XX the This share, is million, the to expect year. $XX.X remain compared in fourth or quarter of income diluted We

number of of end diluted the was million. as of shares QX Total XX.X

and to level Turning flow metrics. cash sheet some balance high

long deposits and of including equivalent, cash, million. December as total XX, term was XXXX So cash $XXX short

quarter, we due for level $XX.X QXr And in outstanding XX During expect increased within was the the a million. the receivable end the QX. Since and Accounts in strong Days generated the of $X.X we quarter the experienced to operations. were and of million timing of over fourth we year for $XX million to by altogether beginning year, quarter. and from Inventory positive days. million primarily quarter, generated had collection and $XX million it down by $XX.X the come balance cash the down collection have to the flow account we the we cash revenue strong went receivable

quarter support the level especially to last inventory issues. few we is light with chain the the reduction target The our inventory the years, order supply of environment. in the optimize to in increased this business line new in In the given growth,

to QX, expect $XX million. of guidance, range $XX Moving million the the to revenue in in we

of gross expect is the increase supply XX% margin We, business resulting cost. Our gross bill labor volume affected material and margin around the issues, and to by in from QX. the chain the in inflation be therefore

us growth. and this anticipate year, steps supply few focus initiatives. last on we time over These plan in years improving design the margin meeting we reduction and and through on in gross focus they optimizations In gradually to quarters. Our assist the will engineering improve phenomenal was cost the margin the that to chain order our coming take

well R&D roadmaps We our customer to be invest growth. positioned continue and to meet in for

order model we to when adjusting all target However, the our markets. to us growth revenue move expenses operating other to level closer in returns operating current our are to

current contribution US results. strength on is current our cash would shekel expenses to our Israeli the level like versus highlight I the our as operating reserve the The well. dollar of of helping

opportunities. that have billion rates to in cash puts position in looking us excellent grow increasing and $X.X actively are to enjoys We we the an and at close interest inorganically

Kenny? With and be happy questions. myself that, to Ramy will take your Rafi,

Operator

[Operator Instructions]

Kenny Green

Thank Moshe. you,

Our first be from Barclays. question will Blayne Curtis from

Tom O'Malley

other queue you perspective just be it know Could be but end great. wanted market of more what just in this happened by Compound greater front-end, would is revenue. O'Malley, what would image then really the any I XX, contributed any to normally granular, a and sensing, quarter, granularity between give not Thank down the Hey, a I there to understand, Tom break breakout you in it advanced but you there, you. than with helpful. packaging? percentage CMOS just from semi, said the sure December

the for Just quarter.

Ramy Langer

Blayne. Hi, Okay.

quarter, Tom. this So it’s

Sorry. Hi. Ramy. This

look the came if to mix we the the basis, packaging overall at fourth of advanced is it's if about XX%. quarter, we XX%. So yearly This our the to at look close

for is just they year Image lower CMOS reason little business, the The front-end and mobile other others. few years. a And And above compound this bit phones. Sensors were were together a there the XX%. Our this then is of of sales than

up few it were And X%. there about So ended then a small items.

Okay.

Tom O'Malley

Yes. Helpful.

year, quarter? So X% the or for saying, the was December you're full for X%

Ramy Langer

was we quarter. X%. December Image around CMOS nowhere was year anticipated, than The Sensors, this as usual. And overall,

Our usual segment. XX% this for

Tom O'Malley

Okay. And some you year. are making then about guys the comments full

June June saying you and extreme the going like sounds bottom look? to that be we help quarter? for that better the saying, also to than should first but about look you're like what how just should and Could March think be than is identify You’re do which guys weaker stronger broad you. end March June is given in half And of the you off the think going you fact Thank based WFE, you'll are should how hey, it second half. the markets

Ramy Langer

all, that seeing I'll the let's minute June talk talk So anything about to segments. in we what June. say QX. about be about a are first going beyond But we is of didn't

DRAM lot This overall significant a to to carbide is contribute I other be similar also Silicon is markets Advanced and So the the be and Heterogeneous going our bandwidth expecting the going next going memories. strong be segments year, from very to be strong year. backlog move is Coming of the revenues. going are Integration, okay. the look to to and next going are I'm high pipeline. at from packaging

that that us anything in see expecting different. helps them XX a segmentation that we So in buy new this view, customers And we've customers acquired additional lot mind I'm in the point from will XXXX. Keep business. of don't have of some the balancing equipment year XXX we that

have at beyond, we us and a QX But entire So of solid forecast. the looking a backlog pipeline. XXXX, give this will year and a solid balanced

a Now, very that you are have remember in any to not changing. did working Things get are we major cancellations. environment. dynamic We

However, more there than is hesitancy before.

prepared year. about is of the outperform remarks, as But or in we So our too a therefore, early it segment. we for said give to expect forecast market our even QX the rest talk to

Kenny Green

Charles Our Needham. next question will be from from Shi

Charles Shi

you're address me? It like want much. you about hear you gross Thank some action margin. and are you a inflationary I to Yes. also those. smidge. the your cost think ask margin And first to facing very volume bit and margin. it's you historically cost actually taking My Can got a question a by Hi. seems is, gross pressure input the it not influences that quarter I down just

you. product have talk Because into didn't know I ‘XX, have some really margin visibility full mix. you to could the sometimes the gross role. negative unfavorable ‘XX? Thank product favorable backlog, or for you I you think in mix think that I into there mix a I play a but or be, about is a mix mean, positive the good bigger year

Moshe Eisenberg

Charles. Hi,

because see margin gross But from do lot you from decided the cost labor focus structure to gross well. the the We are in this of product time and some some say elements. material as mix cost components, we a some to see has would see with pressure. on both pressure margin I increase the So we bill cost right, on we yes, altogether

product mix positive impact. may So yes, a have

might already see XX% and already it more should guidance gave we some currently think taking. of over time, think. as mix the may said, half we a we play are I that the a some take as I than from see favorable year as expect second the coming but the product And may to that bottom from impact and that initiatives also that improvement we the in the be also we year

Charles Shi

in I What Thank you. said earlier you which should mix quite the doing question, to memory think packaging a also others. Tom heard want back maybe Maybe year. you as DRAM, this go to think you segment with really of packaging, well second be this say best includes bit the kind asked I year. percentage to the advanced about year but going it's mix the is the question I seems by similar, is to a full growing that we And expect your on be,

I the they're going be, the like, conviction for packaging going they're be segments you. that said I okay, as you are don’t great hear they don't to advanced to You but from as hear that that

Moshe Eisenberg

position was do above, not we're didn't second We talk waited, part about let's say, I talked the I today earlier, segmentation the that to about any be first forecast. beyond That where out I the said the we forecast in stated. a quarter have already

still more least I major major it I mix, more a it part of our quarter, at play business. still the whether be But bit advanced the to we packaging and early don't that a Regarding know. definitely be this backlog going it's business, pipeline part a of be be, the in XX%, the will too little continue our is And to see would than say, say. XX% to whether will the significantly fourth it's will as

Charles Shi

the Maybe mix. you. last want one. I about to ask you really geographical Thank Okay.

you're you. Asia your Pacific of versus mix on Maybe book, Pacific be based US relative in way bit around? to see faster Europe? growing Asia other do kind seeing US, do Thank little the that Europe, you a today may So ‘XX see order changing to what you and Or ‘XX?

Moshe Eisenberg

on see at and No, we the going what least, this I at think don't is our stage, there plans. numbers current

US and expect XX%.I stay. I Europe think the this Asia stage that XX% versus to this we at think

Kenny Green

will Richard Northland. Gus Our be next question from from

Gus Richard

about you're point. general thanks time this that you much the I wondering thoughts tools slotting sort around? taking And lead could for if where has just How just of any compressed? question. talk Yes, was at

Moshe Eisenberg

are it very spoke last today see we from customers the we the lead And What times like go their end to And months. see that, about And think pipeline months, to business. in also in seen would shipment I down the and about, are scheduling turning issue, something just the our reason even rough four customers waiting to are say I the are coming hesitant you they would or three give giving call. a that four I main numbers. to for into we've these down result, that POS time. The their six as real

the definitely very today to forecast that hard and reason view, our first the is point it's so this from And quarter. of beyond

Gus Richard

your Got or the on some any it. about going And applications wondering then you're new just color you mentioned opportunity comments of products of prepared types give in a market terms I expansion and was of little you could be addressing. more to color if in

Moshe Eisenberg

say information would two we general, some are In careful are products. because areas there obviously I about very But is I it developing this that be confidential. very of where will

we is and develop the identified that we these TAM. our technologies We've there will all their those market we have enter. parallel, In are to that for products customers. and our have we with very our are that important customers have existing areas it. on meet increase gradually us roadmaps. introduce is to of it position, roadmaps requires to opportunities this business This to side been First working development And our increasing and we are good and areas the on with our increase maintain

developments introducing be types So we will the be in ‘XX. would of this two that

Gus Richard

Okay, of sort it – just sort packaging? on any advanced of color front-end Is any

Moshe Eisenberg

will So be Sensors. Image the advanced certain it be for packaging, applications, and I will say the in in be CMOS front-end, in will silicon it the it even even would carbide

capabilities So showing our we will this and our new improvements be really in in applications across is products. entire portfolio

Kenny Green

be will next Stifel. Our from question of Brian Chin

Brian Chin

right. All

Is Great. afternoon. Good Yes. with that about better? Sorry that.

you if now, May, Thanks questions. the you an place us the delivery that. a on June. color I still appreciate but a times, get few for about maybe and ask Sorry lead letting order

you on bit going that a stabilizing my revenue is think do So generally around based and first first little That’s XQ. question. into of visibility you quarter levels? half have But first backlog maybe

Moshe Eisenberg

look Well, the as pipeline before, and very on that hesitant Brian, are solid, because status things said I quarter have second changing. at are about I our it they current in when did we you any But we color backlog major it’s more consolations. talked the are giving even we before, still not

about very we this number. still, to business. hard a clear But very feel at we put it's are So positive stage the

Brian Chin

China, second something if the year, half, bit Okay, you flat that, kind with your that revenues would exposure don't across optimistic. of for you how you but enough. little that think of better so you in also, about relative more trend to China some Because just do later as asking I generally, that provide you revenue of China maybe know the holistically benchmark you the fair terms obviously what a run but know revenue I what aggregate yes, more other sense optimistic obviously and in would of you're year. get year the QX be makes this to Maybe than whole, could and XX year. spend down couple this you improves the Maybe maybe a industry of last not the you lot And questions. year distribution or might in this a a year. can

Moshe Eisenberg

stable. But are, It's all, The see business not coming you going and stable. any did open we China is said, the see is give We of a we'll there pipeline in segmentation major don't Asia. look in But the we don't first we of of and how all-in- Coronavirus. out there months. change. China, we is any to backlog So, as the things when work all, couple go is in stable,

to customers is order new the there there, I customers machines. think continuing are The growing our there. industry

don't So change. I see any

wait would China say in will is some, the to see whole However, some I that we and how there things thing out. playing are need

about want unknowns, comment here there. we Rafi talked his maybe how work see remarks to not would Rafi, you the from further. but our there. in US And I of are I a think There view, think major a prepared in restrictions of change point do lot

Rafi Amit

a take China, I we say and as heavy year. slowdown. Asia China very very proportion have that into to was under consideration between same the the tough QX, time other And are about that if the and during last territory

government very So quick the as as want I far make know, now a recovery. to

China. So definitely it I it's as improve said, business to say. definitely the could can too make, in this But early action

maybe we wait is going to have months one what then can on. two and comfortable feel or We more

Brian Chin

carbide the silicon geographically, revenue, Okay, that the your within come on has And that's where you customer, off business few maybe even its last exiting Is products. China. which be a or with you targeting, to what's times XX% significance of up, a and power by helpful. its It there year color and of kind kind would Maybe mentioned of grow revenue you maybe Japan, are device maybe very year. last just question. not now? smaller that you call, but helpful. Carbide year. similar existing QX like stronger new Silicon size products, where looks and it of this Europe, if US, right Any could think But are

Moshe Eisenberg

and So, it's I global want it's obviously the And territories. hesitant. I'm customers, first semi area. we business, are most of say, all in names but in of disclose a to any this I major silicon don't compound would of all, serving, players in the the carbide, general,

weeks about number, What is order the ago. And we I one from a received this with a that's million talk think about $XX customer it's I few can we just of significant specific steps. definitely number. which talked a

And this customer, this more doing opportunity. at are like We that several are customer is steps specific other potentially this machines. can customers even order specific customer, additional there that there that

silicon very. So carbide is growing

position X I I'm good of would business that customers say, out Tier are on grow. in all, most definitely expecting there. And that major it's a to the a have We

we more but process within more steps also going are we the that grows, business address. and to the as both are grow to going are We finding

Rafi Amit

I the know car segments actually I one on. the of mainly what's everyone carbide This electric and is is XX%. is over, would think CAGR going like to that is add for silicon the

comfortable this feel very So with very silicon definitely carbide and this aggressively it. why the we is drive

Kenny Green

Craig from next B. Our Ellis from will be Riley. question

Craig Ellis

Yes, wonderful. hear you Can me, guys? Yes.

I to it quarter. totally on congratulations record. things and of that a understand of beyond the hard year wanted issue, the color concrete the on track industry really fifth growth. great around makes to businesses I up dynamics the follow outperformance Really nature current provide So the

it I'll this So way. try

at that is outperform you of potential industry range look leading possible? think quantify outperformance are the if you can you give an you If factors And you to this most outperformance you to some in think margin? the year, potential that could rank that us significant can't

Ramy Langer

Let the me segmentation. We about try. talked

advanced segment I that this year. will So think the packaging be, I would say, solid

So business that would this to when a the performance. DDRX. is I the is a that XX%. was there memory, is segment, potentially, a the segment DRAM in this maintain, talk I'm is about quarter bandwidth of high including fourth XX% our This will And I segment say, good

think business, least, Then good silicon shape. carbide say, perform the XX% is of definitely our I can well. at also rest, I area I think that So in an should

continue segment is a to Rafi is from is I going is uncertainty everywhere, this this in is and to the capacity. the We comes, transition cars, because where there the grow electric cars. going there it think I and is As that say to But an would a rest. electric see said, there

hesitant our And that are their about of expanding capacity. customers very some

to to the where that's hard quantify. a And give very area it's number

market. the an difficult. it is But of So we comfortable the outperform to it exact about number, you will give performance feel

There industry. definitely some area strength and said, an for There but want to Now, I'm continue is no one that thing ‘XX. Definitely, and customers are expecting Rafi is new China. coming. is something? this they unknowns, going number Rafi, as I is be in that's add the that We us in you exposure to definitely are our plus expand think a choice. see will definitely that application a the this plus of

Rafi Amit

That's it's -- fine. situation. the correct No,

Craig Ellis

that Ramy flip was Moshe, really to one you. helpful. I'll over

sounds R&D the those within expense are going the on products going company that operating to about. generate So some things The committed to new it different you've line. there's talked that is dynamics like all

stable, other expense for But sounds spending on is looking least but it parts up. at potentially operating there of like efficiency. So you're

it So the us contour how out the Help they in absolute does in flat quarter the year? that through with dollars net first Does fairly through and net down Would OpEx? line. to go that of the year?

Moshe Eisenberg

Yes, yes, right. so you're

fact, And year. continue will a invest increase see of R&D in some We to we as will in over R&D. matter the

G&A. tackle means that And to and to and And here sales that. we will that other are areas So channels going improvements. are have for these sales marketing compensate

to going we will to profitability. looking Basically, company like be are into We travel. doing look is improve any that

will respect much to all cautious more be expenses. of We with kinds

more more you are We past, business done we the carefully. that when in obviously, it have we will not monitor it but in do challenging a more. Not even situation, will it

So, net-net, from expenses in the will operating some we reduction see numbers. QX

see much, but reduction. Not by some we will

we in if would with XX.X, some in So ended of reduction we see QX QX the level operating expenses.

Craig Ellis

you That's really a I'll helpful. ask then, Rafi, And question.

base. XXX, customer year done XX% remarkable. last company has a the fantastic growing addition job And is So its pretty the

XXXX? XXXX, really is and As can a the what was room how in you significant big be that much expand to there relative how further base to look at customer year

Rafi Amit

that new knows them by from China First and new the many about to in of of all, customer of a surprised sudden more don't nobody regarding are you customers. customer them, a we way, time and as you discover time get customer, base, all even more know

about is see new different we customers, specific China new sometime is it definitely segment but this customer that we when same one major the customer. in So territories talk and of customers can the

we give him application then a in he department. we Tier to solution in that to can example, better found application customer specific other X For penetrated a if another and

So all of a sub one sudden Like you than customer. have more customers.

room go there. talk especially application, and have when there our see we to the many play develop we for in time ability enough to are are that tool, have we and segments more to time there us ability that more OQC, from the see we that So other order we front-end to about

customer, why doing customers this to feel definitely installed the that comfortable definitely are some when we effect. the risk all continue continue XXX our And us is And down the efforts we helping very expanding of customers. slow are reducing there base our and

Craig Ellis

So Rafi. should final helpful. share look it plenty share Moshe, ahead. you That's back as for expansion and question. of you wallet I'll as my Thanks flip of room to

in very in quarter. you look in cash quarter? investment much and these So, expect rates the kind And we ‘XX. increases instruments, first as with Would we interest that interest how significant average increase, should expect again, across your duration income different increase at in of the

Moshe Eisenberg

high So, as pretty are interest we rates full we advantage all the trying days, can, and interest high are of take to you know, these rates.

yes, income expect again, And, in grow quarterly at interest have level. the basis a fourth We to continue rates on that reported assuming to number quarter. And $X.X the million of remain this million all to current we this is XXXX. in five-ish financial the dollars

Kenny Green

next question be Leader. Allen from from will Our

Unidentified Analyst

hi, about the you by way. bit from there? from prospect me? slow-ish the for not leader, hear couple as of I'm Yes, about Atab you a Could what's my in the it can bit is last the memory. was question about Yes, Yes, elaborate potential you hi, speak years and It a XXXX. a

Ramy Langer

example is the where of technology changing. the DRAM is this an Yes,

the and more applications, high integration. this So and performance tied computing today there is and are the more heterogeneous up to

power They're that the memories every bandwidth, are very are these memory; aspect. very bandwidth from high are consumption, from in fast. from the see They stacks. You efficient

produce expect to the the this also wafers. it our bumps that's are players are in expecting throughout that all segment. the are area, So I'm very an this enjoy ‘XX they it's is capacity not starting used quantities. major application all growing. is mention here we but but up been And it. producing to huge, are big and manufacturers to from that's The ‘XX machines And of have application. to enough And we on an dominant obviously, the They them. inspect the them, ramping

Kenny Green

will be next Shahar Cohen. question from Our

Unidentified Analyst

that carbide? on we is you growth about player share And from silicon dominant What major to multiple see the we all to across capacity? a saying we add wharf Why see, capacity of expansion are see Hi what reluctant silicon customers What on are Infineon. market in area. nitride there? play customers from to you And you of have guys. Are also on What's inspection? like your gallium top do carbide the over carbide? the silicon in

So helpful. that speak if would you can be about more that,

Ramy Langer

think their are adapting cannot market as growing speak carbide the growing is people use customers silicon about more So, in electric market. is and a of carbide before, cars. this also and names, end Shahar, and The said definitely silicon more we I but I is

years. an definitely think will growth that So few plus. mentioned next area XX% we the Rafi over see that's the CAGR about And is I

are in within our we silicon other to developing but player are dominant that certain in area process a applications, expanding steps So all of gradually it's capability presence the application, we applications, steps, carbide. not an and the other yes,

over year. that's last think digit segment this market we So numbers It the promising in this number few growing a a definitely us. been definitely has see years, digit growth for double expect And years. to few the very over single next from and more I to

Unidentified Analyst

Okay. Gallium nitrate. Is gallium there nitrate a –

Ramy Langer

gallium also applications. is advantages Yes, nitrate has other some in

are there gallium of many nitride, play aspects this but different think is a arsenide. that has means and the here, still flavors we There definitely gallium each stage market in, the in smaller, and capacity. flavor I at and it's market

of in think complex try about bit we call this all a more. minutes, a give can few and more a answer you it I but speak little me to can it's

Kenny Green

and of session. the that question I end is believe the answer

Rafi you statement. Before we Camtek’website@camtek.com. everybody coming investor upload and conference I'd relations for I this like ahead. go the to to to of closing call joining this in back hand to recording Rafi, of to know, all like for call to Rafi, like hand over let thank will please section a hours, I'd the back the

Rafi Amit

continued all with the like performance. I To tremendous especially thank our employees would look I their and forward support. in team you interest you I Okay. to long-term want quarter. I your management to my your for investor, talking next you our thank business. goodbye. to for and thank Thank again

Camtek (CAMT) 16 Feb 232022 Q4 Earnings call transcript