ACLS - Earnings call transcript Q2 2021 | Axcelis Technologies, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to the Axcelis Technologies call to discuss the company's results for the Second Quarter 2021. My name is Mary, and I will be your coordinator for today. At this time all participants are in a listen-only mode.

We will be facilitating a question-and-answer session towards the end of this conference. [Operator Instructions] As a reminder, -- I would now like to turn the presentation over to your host for today's call, Mary Puma, President and CEO of Axcelis Technologies. ma'am. proceed, Please

Mary Puma

With and Mary. of is Brewer, Kevin Marketing Thank and me Doug President CFO; Strategy. President Lawson, Executive and you, today Executive Corporate Vice

would this We participating for call like difficulties. to remotely, any are technical apologize in so all advance in I

it comments will forward-looking described described have night, statements current that, you these also expectations Please today safe detail XX-K Form on website in seen business. risks and provision. as management's be our expectations statements revenues, issued subject are not These our to our press for note on you the results profits of in SEC urge our under our available forward-looking we available If the report filings, SEC's release about which our and website. in release. and inherent to press annual are made copy on last is are Playback are service future other our risks based review. in harbor other These

mature Purion XX.X%. of million our XXXX. quarter. CS&I, strength with per margin these industry, joining may since not share earnings sales to well the the Purion driven second QX revenue million, quarter split $XXX.X strong the obligation China system Our actual morning NAND. the Power X%; any contribution provide a to rest system shipments assume notably gross for in account from resulted memory year The even margin product for and top momentum for We Europe went from system time second foundry/logic Taiwan surpassed XX% the of segment XX%; geographic of another line, of XXXX. million. second materially of update was Korea semiconductor do between We greater In series. current our believe mix than statements. posted customers, our strong Revenue first aftermarket quarter for world and Quarterly to by was XX% DRAM Axcelis to thank process will $XX.X XX%; $XXX technology differ the an the customers, you $X.XX expectations. gross of the us. and of XX% X%. the our the in business Good and with continued for growing revenue the line quarter, This overall mature XX%; full significant to forward-looking results with as in and from as shipments

guidance. quarter third to Turning

profit of revenue stages and million, rapid be We million expect the approximately earnings allowing to operating approximately $XX early of QX approximately in We growth revenue XX.X%, $X.XX. of revenue per million QX $XXX technology is guidance, share XXXX. segment, approximately capacity the of This process expect above build. for of and memory to exceed gross us margins the driven of full year $XXX mature the by the now

including supply We the well and government this started creating utilization causing growth XXXX, expect demand by is several both equipment segments, programs opportunities underlying shortages, investment, the semiconductor Overall data are geographic high-fab AI. QX analytics booking next industry chain being we factors, capital for year. new markets into drivers to cycle systems strong across customers, currently fab into our XG all in of driven of and remain significant that for expansion fundamental and incentive

believe has increased significantly. that implant we result, a the As TAM

to and of designed the and years. the XX are product medium extensions maps, road electrification image power and Purion in substantial driven We've like acceleration industry high high power sensor several sustainable of strategic their automotive rapid not related manufacturers energy by MPUs is for general-purpose sensors. year It demand the device market. the to These and the shortage image significantly over the of generating current markets automotive. devices mature in This is for of both these current, is addition, of serve with markets all devices last automotive suppliers. In growth driving invested the to XX

result, to driven our a approximately extensions, we make up this with continued market. developed Purion in revenue XXXX the of XX% by expect As for specifically Power growth product systems

increases is Our shortages. beyond to supply sustainable. growth long-term in it this a area chain And clear most trend importantly, and is tied by any driven

Looking a strong and position. at memory growing market, we maintain the

this XXXX good next bookings segment, into to year capacity shipments for later seeing expect and We already a for year are and year. in be additions this

be key large continue sensor Purion future and for power H We in to currently Purion tools and including logic, power Purion and Hs, devices. a developing logic We both supporting target SMI which include new increasing two especially continue two are device and and Purion in shipments. have This These The domestic customers, to in where the our of the segments. one six see a future on XEmaxes high growth. have the a advanced activity are Japanese strongest. market key advanced existing manufacturing. international positioned new in segments, underway, HXXX, in Purion and focused planned includes to field Dragon, we market. one market at penetrating both NAND, market licenses DRAM to number evaluation across Purion to have and degree receive mature Evaluations QX, footprint of memory for evaluation in shipments currently both customers, customers of image one China all continues We licenses related

of four year. these to this close expect We systems

planning are to XXXX. ship in We evaluations to also two one additional

the this anticipated, $XXX are beyond $XXX model, revenue run model implant-driven year. by the Given revenue end than developing we that will million our publish that we current rate of at previously quarterly guidance much sooner million is for the

place will support provide Kevin? financial As quarter. we we of mentioned last as also part Kevin to capacity this his review putting details of in quarter, are this growth. additional on offshore project the manufacturing

Kevin Brewer

our business current quarter growth. strong by and At margin Based a higher guidance market quarter, of of the we pandemic our demand the financial mix assumptions current the are revenue XX% fourth revenue leverage we to $XXX and $XXX of Ongoing Thank new will strength the goal product plan line model expect impact revenue. year in extensions. driven you, take expect now expenses above and our in costs increasing million million gross the developing delivered to capacity. share be customer improvement our year performance review On our of assumptions additional operating financial later significant third initiatives Axcelis rate in with cost-out morning. I products, for gross be timing results finish the gross we're full expected continued higher margin Purion of is seeing to include to and Mary model. satisfaction and of current for that models exceed supply slightly to continue our call, investment run last customers that mentioned margin in should closer on driven to and The good and chain-related a include margin well we Full QX XX%. capacity. beyond add number around of plans gross to capabilities Purion the and solid on and XXXX. us that Based manufacturing manufacturing by year

place facility a requirements. currently expect and capacity Axcelis year. supporting factory plans to well Korea important We We those and new have an to to this the underway near-term sufficient manufacturing future expect with support in have demand play South role end by manufacturing in are in our Korea of the

quarterly $XXX the system Purion were high Now, compared customers remains million $XXX.X million time that first utilization, strong exceeded million driven by base, turning compared sales million CS&I to fab QX. in safety in results. system is installed to our and the sales. million QX. $XXX.X finished QX upgrades, QX $XX.X purchasing CS&I to stock. quarter in $XX.X million system compared revenue QX financial second $XX revenue growing XXXX at at we This in since $XXX.X finished QX. revenue to million

X.XX in one system were above a QX We were QX. of million total XX.X% ratio account XX.X% to sales with $XX $XXX.X compared of customers of bookings QX QX for X.XX QX. QX. XX% million compared QX CS&I sales top in Two expect at QX versus our book-to-bill to compared customers or revenue in in approximately to QX $XXX.X XX our million. to in

quarter was We XX.X% Backlog year. our of record $XX.X to XX.X% combined currently million QX QX million at or finished booking quarter R&D $XXX.X QX. SG&A prior SG&A and $XXX.X revenue the spending $XX of was deferred of next million Axcelis million, in $XX.X including compared million in with revenue to are the in into record in million. for second $XX.X of new QX. a R&D compared or

gross approximately revenue million guidance, margin highlighting SG&A R&D and spending increased We well mix be and by Purion cost-out and business XX% system. driven guiding model. gross continued activity. XX.X% our to QX closure shipments, strength We're expect in be leverage expected by combined QX and driven or significant XX.X%, in of evaluation the the of approximately QX was one CS&I, product above series Power $XX to margin

in tools QX and in operating at margin or QX net of four profit compared $X.XX million compared $XXX.X We're QX. QX operations year million full million from in finished in $XX.X income guiding $XX.X guiding profit tools. $XXX.X of settled QX. repurchases million expect the will compared quarter, above slightly additional cash QX $XX.X earnings $X.XX million $XX.X compared the all or employees industry We're outstanding share gross $XX.X were ended were customer QX. evaluation QX. generated supporting share to their $XXX.X In per we to be the We in approximately million. accounts million per including finished I million to per business share million steep of compared to ongoing $X.XX. QX XX% $XX approximately turns to evaluation continued of efforts closure $XX QX. finished cash in and exciting products. time Operating million. compared QX. for was solid would QX. at Axcelis ship the unprecedented at receivables demand thank million QX like excluding in to at an execution as during and in inventory It $XX.X growth QX million and of for in in our QX QX payable $XX.X ramp XX% $XX.X is inventory to suppliers $XX.X million $XXX.X same our with pandemic. for our million the million

remaining QX. and infrastructure of now products we have over to $XX programs of our Mary, repurchase balance Our $XX of returned share for is employees. closing authorization call strong also back have start sheet million program to of strength the the at comments. shareholders the current We've since I'll financial the our under million end Thank investment And the you. the capital and and turn

Mary Puma

and to positioned Thank strong capital the a uniquely of equipment all the industry of through benefit Axcelis sustainable automotive but long-term from strength base image you, of energy Purion market Purion Kevin. high for capability family for The strength the significantly the VXE semiconductor growth. is better the These XEmax. electrification enabling for and customers series positioned products sensors for in and Axcelis suppliers is Axcelis. currently implementers profiles like significant the particular positive is Power provide our result to Purion established in Purion and our implanter margin and products

growth in continue our closely the with today's all to the customers global to of has segment. Axcelis means will all capitalize financial opportunities partner We on and discussed capacity this in R&D, support infrastructure to across call. geographies invest in

ingredients of it the the industry to questions. up are and like position the of in of confident open our one implantation. for that the that leadership are the times in With history middle most maintain we in to I'd have exciting in place ion We

Operator

[Operator Stifel. the line from of Ho from Instructions] first question Your comes Patrick

open. line Your is

Patrick Ho

given of not them having and few to Can congratulations in are today? quarter guys. to on for results really very Kevin, qualitatively over strong ecosystem you've outlook terms the taken Yes. looks the it's a it next like nice and Thank looks an that steps of quarters. you on manage what some off and kind outlook. steps you well obviously the of first you taking how given like manage challenges your and you the it Maybe supply that situation in -- coming impact chain addition is the higher What the you mitigate and much very taken inventory you've discuss that's [indiscernible]

Kevin Brewer

on start it think Thank we're there of some earnings. a well question, we've of But you, look I ahead But certainly with we It's what lot the out supply probably been seeing level moved seeing supply of the certainly peer was tried there steep of a related commodity at dealing those out We Patrick. disruption really in lot chain pressure more ramp. problems chain. Many We helped and What a because good our pandemic us Yes. still started just a pandemic. are and to of there moving of things. it. certainly to is early a it the we're as others. as hard took stay since

put we suppliers. with lead ahead the additional more So up obsolescence opened the at sure making wanted lead on we took coming and schedule. to new that engineering really be the We potential drive and look kept area material ahead may material some that was of of focused long time aggressively items. MRP And we any offsets a other

suppliers to the it's took managing manufacturing with ranks engineering been we've working you people looking So put but tell manufacturing I'm and from it. easy going of We suppliers. them and at not out

we track adding margin through the some that is So on our it's and challenge we're to that logistics we're cost. gross volume. But our a continuing margins plans All still have capturing improvement of this stuff freight.

So some material MRP probably helped on what I that's the and that we us. with of it's that do Patrick, think early moving

far able been so of And to with we've meeting demand. it ahead keep

Patrick Ho

my to gross the Great. for margin. And you That's follow-up maybe helpful. also terms Kevin question in just of as

done always pieces. moving from there of a has lot You've a good job -- really

model Some lower gross to are long-term you evaluation revenue. over your that to that as XX% units to and they and models I within -- $XXX your of to in your have guess margin XX% get of the clearly long-term gross to of target there target steps rate? but evaluation the units on margins typically million still you're squeeze mitigate the close What tend even for some margins

Kevin Brewer

Yes. obvious, activity. focus value cost-out continuing we're numerous programs Well to is the one got on the ongoing. We've engineering

is are help evals and Patrick our lot gross going of thing tools. those a margin higher these to around product other to The replacing extensions

will evaluation these help. some that we So start of getting flip some and follow-on into also as tools business

these continuing are going So to into -- focused extensions right now. it's field. volume we're really And to get away the of advantage cost at taking Those hammer we're taking be on. obviously out and things the

are I continuing we're As all is well. net in mentioned, a positive But pressuring some there the still of direction. as it other things

that on things I we're keep just to going focusing So those mentioned.

Patrick Ho

Great very Kevin. Thank you much and congrats,

Kevin Brewer

you. Thank

Operator

from comes Securities. of question line Craig Riley next from Your the Ellis B.

Your line is open

Craig Ellis

XX execution in some especially follow I'll business of to current comments composition the environment. the last go very it the far uptake things now, the months? mix are as or one Yes. products on for the question. of relative versus it the Mary into to quarter the with Thanks to taking on look seeing over mature had seeing is you secondly, very the echo to similar maybe on second and fulfillment side business in the that good And congratulations you what XXXX wanted what memory. or and new Does we the can respect that up that way about where the foundry and product booking of other? maybe on the tilting you're work extensions if robust of I on made see have that line color help momentum us out to you're with some back just

Mary Puma

Okay.

fab So really utilization. by now of in and process strong all really the Craig robust right driven is remain is segments, markets high geographies. this demand really the and technology the And across mature markets terms

in power a you the If And general device are of particular image seeing by go down, automotive. strong. in recovery in and one growth a mature area power devices business sensors, the foundry level driven lot we're also

and from commitment Axcelis what the automotive so that opportunity is of created long-term I in electrification Purion really series of for market growth one the this before things to that market this seeing success about combine the you And we're sustainable with Power the combine mentioned you when a the that Axcelis.

just not into So is beyond. again this this moving XXXX but is XXXX and

the this last In think call. said on we terms of split, I the

our for of seeing XX% just there. systems strength We over we're expect to account going segment that mature process of in XXXX revenue is the technology because

memory. but let's to -- So turn

So business talking expect steady recovering in been and how XXXX. is we've about memory we

slot coming at the our buys and next seeing of end this plan into year year. are initial early We capacity

year. are to interest activity. in we this customer strong. six a memory. that million strong said out us additive what's going revenues got We've to seeing really pickup And are always demo field. say and driving units is of our in mature we in that's So memory The that exceed the $XXX remains We've the technology process got we've to a business business lot evaluation

We have believe really market have time right is point in quite -- we've as talked about we at And the positioning. it execution right we our this the good. products,

question growth. them product position we line these And energy in terms we're of business are of product leadership advanced to technology largest to in and segment And where current, really in really type the what's said beyond business those part even was products of turn growth our two high very units going the I'm putting evaluations the out I field a $XXX the is the focused the drive mature looking out got this But product the a extremely future high to And I six extensions have Four of lead which field. over one right we evaluation doing remains energy how strong. -- second. in our are are high in it now. of and in Doug line as a So And is have in place additional mention second we're doing. I'll extensions, future the that are have to model. them two Well, we three all did growth. well. driving and -- products to in process into we're going and million memory, to the and logic. there that's of implant We've

six H So, penetrate Purion some the market. sensor manufacturer. this been the segment believe Purion units is the an example, out at we've and important get our for And is other truly opportunity HXXX we logic XEmaxes, in that our very of power a that that's leading leading this of mention to advanced And one growth a image this looking them for device and those really customer. foothold to is I'll manufacturers evaluation Purion that

products to on Doug want to add of anything the So themselves? don't I if terms the of in know some you that details

Doug Lawson

it. The -- silicon power think of Purion well. for the market. and in Craig doing covered -- I most has Purion very customers the tools be in HXXX market And the Purion I XE you to both and -- popular carbide the appears option especially a very think Purion that HXXX are

So growth product we're to in looking that forward good line.

Craig Ellis

That's helpful Doug. Mary and really

So the ramp ready to around in with getting follow-up moving and South the up question facility the on relates point the customers remarks to to capacity closer Korea.

look has capacity the capacity XXXX, to So some forward the and five-year you'll is there as in And ADAS years? auto with operational, existing near-term to in secular robust dynamics two opened is need you step by will that online Korea Mary we be of, at the the there kind first three some question bring of that of other to to very and you South multi-decade need, that will dynamics the the revenue least, look what's here you we of position headroom from which plus getting facility give identified trends, that firm capacity XXXX? as EV at longer-term the When or this. the the the auto-related next and one at Axcelis

Kevin Brewer

is this Craig Yeah. Kevin.

the me of part Let that. grab first

we're facility capacities to equipment lot think we're beyond we over the site in going with you view there. capacity I'll and now have between so did need of South events. years of up to to at through doing we South point we're at cover freed capital the we're a end models. what we a Korea term our and right of the take can work that new publish looking we from tell Beverly of the additional Kaizen of Korea expansion, if So in XXX year. our last those -- Longer We'll plenty is infrastructure do models what existing couple We invested the add But look a at capacity I space. in that

moving Korea be pure done think I all things capacity forward. point we've between won't the South issues build view of in there from a So

Mary Puma

fact I have Can I you one Craig just strong a we I've add Korea very of that pleased. And South I and to our about customers been So position that? didn't know in we customers capacity they're want pleasure person just adding did with in we the to ask thing telling that specifically one extremely have personal contact add spoken fact Korea. but this all with largest have of we're in in this in the --

again, think is of meet the we'll good in be positioning it's terms I but as Asian terms to a of plus capacity Korea in only think in our plus well news capability needs. to market. the So as have not I the the a it's able those And in South

Kevin Brewer

Yes.

we'll follow-up. South our other from one quick is Just of Korea ship able be plan mentioned should The well. facility that as that customers any Craig. I to have too to for

up our The So going to is any whatever be to to we're capability particular of there that customers. one plan customers. it's just building has or two the for not set ship

Craig Ellis

Okay.

very China Korea strong it after opens? could South you that of meet demand from market some So

Kevin Brewer

Yes. Yes.

Craig Ellis

Very, Thank in queue. very you. helpful hop color. back I will

Kevin Brewer

you. Thank

Operator

D.A. Tom question Diffely Instructions] comes from Davidson. [Operator Your next from

Your is open. line

Tom Diffely

memory Yes. -- bit maybe and rolls emerging hoping terms and of NAND Good year the to I over next in morning. about was it how for the two you DRAM Mary, recovery I more question. little timing. the a want think Thanks the or hear both out could

Mary Puma

come the of now just starting Well think see this as at end said or year. we're Okay. the as -- I we to I said pick-up

to XXXX. We into it build expect

the our in there's specific DRAM. this now of honestly, in capacity current process the and I example QX because devices. just NAND more of our a type there's we little energy NAND, said record And right high bit we've high of was and mentioned the tool matter a number between what DRAM split of really business in exposure bit for terms as in device in Our little evenly a it more preference those times both customers of of to lay have types memory in doesn't

it lays thoughts. Doug, know to want it So to waiting additional if just any I on out. add doesn't we're how your see you with don't -- Again you really color

Doug Lawson

Yes.

So very Tom implants terms dependent we're capacity growth. much for in of

So they you as output implant. add to the now point year memory quarter did And they from the lot wafer company additional to a increases need they're be technology in as and shrinks a starts in supply DRAM. calls of either they put at see that very place. to of demand they've can or increase add layers to their continues strong earnings terms they're fill shelves last various this is tightening. And The where beginning

and expect in we this into memory the capacity be adds. end pretty that start to as throughout next wafer a we year terms So go year of good cycle of

Tom Diffely

your view year talked about quite That's being business mature your X and the so but changed? view mature this What long-term seems you business systems the last skewing is you. XX% And It like has over your long-term memory? mature your of then been towards it's or year. more helpful. Thank between mix

Mary Puma

view changed. say I you go I want mean has something? don't Doug think -- ahead did our long-term Doug. to

Doug Lawson

strength days we've in sort the in of and same favor probably thing. even or customer to the it No, XX-XX base XX-XX say developed. Back diverse given behind of the going was I the that memory large us -- was when are

foothold in mix But market then the be from image advanced expect capacity of see to sensor grow adds. market other the think it over the continues continue in cycles as we establish time. logic stronger power Japan continue to terms and a memory strong to would in will to technologies I as in as So a we

Tom Diffely

you hit then four I because all the All later going look X. year this And that sounds from the ask them potentially right. up Great. tools of business rate it earlier of closing finally to Mary it orders at you -- mentioned was and like follow-on when expects you eval about

I this maybe production typical the curious volume eval So of at guess closing is timing what point to of tool an some tools?

Mary Puma

vary. some become it tool run year mean orders. repeat where about of run longer a year and can one bit typically how process run Well little general, we've a it's little some record talked I in shorter. bit we But about then evals get a

What's with there very repeat are systems get closely prior orders is the we valuation. closing even results capacity. where happened are good customer. been to very customer requirements The the Now we the and add work to have to able has

so orders again XX have less gotten we in And less months. -- than repeat than

it but XX benchmark. I good in is customer months general a varies So really by think

Tom Diffely

Thank you Great. Okay. time. for your

Operator

next from Your Company. from Instructions] comes [Operator of question line the Quinn Bolton Needham &

line open. is Your

Quinn Bolton

Hi. congratulations make and results the the to outlook. with nice you start got year in to quarter on the I to offer just with three before my tools end the sure said the Mary, I've wanted eval the I third so numbers one then right. evals quarter. I you that Is expect correct? or close fourth in evals four complete of the four will likely think

Kevin Brewer

is this Kevin. Quinn No.

of in before we the our one additional year. expect have we guidance. in that's So the end third the to tools see four And quarter then,

Quinn Bolton

So then in so one third that's quarter, addition QX? in the to it's four the in

Kevin Brewer

Yes.

Quinn Bolton

Got it, But, on the year? okay. costs year as to capacity start-up you assume late of this facility recognize. those it wondering And gross margin that ramp any issues the absorption South whether XX% step begins I'm December in down guidance eval tools or four full margin then of quarter. the Kevin, carries for Korea reflects sort a in just the in of a lot over I implies

Kevin Brewer

Yes.

maps expectation issue. up is a we're bit that our yes, initially of margin point -- next we're We're year. from the in place. as So, into the key there you that on a this of coming out think maps. But Quinn, a becomes -- road drag well. fully margins And we've mean training then, pressure are people. drag hiring as And this I the But people little is so sometime some for that slight we're brought that a that. margin road mentioned once accretive had type right very from absorption following those year, the those closing evals reasons, I exact We're operational, there you additional thing now. is

Some timing-based. of them are

to mean coming tools, think models to follow extensions over gross product and have of in on And that margin ahead these will on our the And right move terms we are execute give quickness we're can on we be way the levers cost-out work thought margin done. talking initiatives now on these I should be is continue along that the that timing up some as are those this evaluation move factory it of about. we of continue So, fully it revenue. I And operational high some of and are really is get going we would flip margin which again, there get just where to and based us orders to the growth. -- was Mary the

Quinn Bolton

I think a had TAM wanted than much you the question. been. to it now ion Kevin perhaps ask that you Mary, larger had mentioned longer-term implant is

old $XXX models, of the and million is sort share now to long-term to if update for that I have you but much give you've implant given market of of us billion. $X of TAM. sort thoughts TAM us. model million TAM XX% updated larger. an up Wondering know you're I you the give you think going described ion share TAM, long assumed about I -- $XXX Wondering time, sorry, fairly new And the your think your of a new might if might

Kevin Brewer

grab to why to you it? take unless want you -- don't Doug going it, I'm

Doug Lawson

TAM, let's with Yes. I first was the question. start -- the so,

lot because On billion times, saying XX% difficult had years the actual was to the that, TAM as We it's we've numerous actually $X been several for the about there's been a to that reporting. last and has growing been TAM, said at of not quantify XX%.

if at point like the this billion it's at more So, probably analyst looking of some you recent industry $X.X range. the now look numbers, up it's in

now and our So to we're trying right estimate. that get quantify

is calculate a share, us exactly of that again, a In denominator very it difficult terms thing target. given of to for becomes kind moving the

that device the and do share And image like and segments, high the so, very developed sensor the know of leadership, Purion technology continue to leadership power well And is markets. with extensions. leadership, have focused do we especially we in we products market we've for the extremely targeted management what

and some we how around any decisions or we'll TAM color additional make point model the update share. on So, at do that much calculation

Quinn Bolton

received the is I just Chinese fairly comment, a result ship on one yes, was was licenses stream? diversified to Wondering licenses, foundries. quarter China or it a know if diversified then, as -- China last receive it those of revenue pretty And the you business, to Great. concentrated question you could this to revenue the

Mary Puma

particular one we -- It the mix. But, of a the of made there was up it's licenses based just is a was that export concentration timing to on really received. some of customer domestic diverse We I China that the customer one only and you're customers, in many and and we of and is mentioned large multinational both of the many, particular group that a have to referring that China. customers --

of across of a -- of would little but general say a that, there customers. a or more a number was was number I broad much So mix bit of large in it

Quinn Bolton

Great. Thank additional color. for you

Kevin Brewer

it's to again. back evals. I go Quinn, Hey, Kevin to want the

of more it's it's So, it four the of total the remainder is a year. for in one -- QX

So think it's QX, three which said in that. apologize I one for had I what in earlier, so Mary QX is

issue. the confuse I think I

So, there's in for in we three one evals four and and remaining more ones QX QX all. expect,

Quinn Bolton

you. Thank

Operator

the the a who Puma, Mary of now turn call to closing few will concludes back the portion I will over This remarks. Q&A make call.

Mary Puma

you investor Annual be today, and XXXX your to continued for Semiconductor support. in Communications see EDA Jefferies with you Infrastructure in person we Thank like IT you, events. participating Needham and and Mary. And will Hardware everyone Summit. also I'd at the SemiCap and to conference, Virtual for the you August, and thank thank hope we upcoming we talk us joining In virtually Second

Operator

presentation. the in This for concludes you today's Thank your participation conference.

You may disconnect. day. now Good

Axcelis (ACLS) 8 Aug 212021 Q2 Earnings call transcript