This article first appeared on GuruFocus .
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Revenue:USD507.9 million, flat QoQ, up 32.0% year on year.
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Bookings:USD727.0 million, up 46.0% QoQ and 71.6% year on year.
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Adjusted Gross Margin:39.5% QoQ, up 357 basis points; down 151 basis points year on year.
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Adjusted Operating Expenses:Declined 4.6% QoQ, increased 12.4% year on year.
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Adjusted EPS:HKD0.81, up 118.9% QoQ and 189.3% year on year.
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SEMI Revenue:USD274.5 million, up 12.2% QoQ and 14.6% year on year.
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SEMI Bookings:USD309.6 million, up 22.6% QoQ and 43.2% year on year.
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SEMI Adjusted Gross Margin:46.4%, up 594 basis points QoQ, down 37 basis points year on year.
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SMT Revenue:USD233.5 million, down 11.0% QoQ, up 60.7% year on year.
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SMT Bookings:USD417.4 million, up 70.0% QoQ and 101.1% year on year.
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SMT Adjusted Segment Profit:HKD141.8 million, down 28.3% QoQ.
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Q2 2026 Revenue Guidance:Expected range of USD540 million to USD600 million, midpoint increase of 12.2% QoQ and 37.0% year on year.
Release Date: April 22, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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ASMPT Ltd ( ASMVF ) reported a significant year-on-year revenue increase of 32% in Q1 2026, driven by strong performance in SMT and SEMI segments.
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The company achieved record quarterly bookings of USD 727.0 million, marking a 71.6% increase year on year, the highest in the last four years.
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ASMPT Ltd ( ASMVF ) received the prestigious Intel Epic Supplier Award for 2026, highlighting its excellence in business collaboration and technical capability.
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The company is well-positioned to capitalize on the growing demand for AI-related applications, with strong engagement in advanced logic, memory photonics, and CPO.
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ASMPT Ltd ( ASMVF ) demonstrated operational leverage with improved adjusted margins, supported by favorable product mix and volume, exceeding market expectations.
Negative Points
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Despite strong bookings, SMT revenue declined by 11% quarter on quarter due to seasonality, although it increased year on year.
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The company's adjusted operating expenses increased by 12.4% year on year, impacted by unfavorable foreign exchange rates and strategic investments.
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Visibility for the second half of 2026 remains limited, posing challenges in forecasting future performance.
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The company faces supply chain constraints, particularly in the SMT segment, which may impact revenue conversion in the short term.
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ASMPT Ltd ( ASMVF ) is still in the process of evaluating strategic options for its SMT division, with no specific timeline for potential divestment.
Q & A Highlights
Q: What are the current trends and potential for bulk orders in memory TCB, and how is ASMPT engaging with major memory vendors? A: The last bulk order for memory TCB was in Q4 2025. ASMPT is well-positioned to receive future orders as memory makers are ready. The company is making good progress in fluxless R&D, especially for logic applications, and has won four tools for CoW fluxless applications. ASMPT is finalizing an evaluation program with a key memory player, which could expand its market opportunities. (Cher Tat Ng, CEO)
Q: Can you provide insights into the photonics business growth and its current size? A: The photonics business has experienced significant growth, with a 5x increase. While the exact TAM is not disclosed, it looks more promising than before. ASMPT is a strong player in the optical transceiver market and is well-positioned with key CPO players. The company is involved in high-precision bonding areas for CPO, including FAU attach on PIC and micro lens attach on PIC. (Cher Tat Ng, CEO)
Q: What is the outlook for OSAT CapEx and the growth areas within China? A: There is strong demand for OSAT CapEx, driven by AI infrastructure needs, particularly in wire bond and die bond applications. In China, mainstream SEMI demand is stronger than advanced packaging, while SMT demand is robust due to AI server boards and power packages. (Cher Tat Ng, CEO)
Q: How is ASMPT addressing the demand for EMIB technology, and what tools are involved? A: ASMPT is not yet ready for embedded die bonding on large substrates for EMIB-T but is already supplying CoW tools for this application. The company will benefit from increased demand for tools to place components on EMIB-T substrates. (Cher Tat Ng, CEO)
Q: What is the strategic review status for the SMT division, and are there any specific options identified? A: ASMPT is still evaluating strategic options for the SMT division and has received some interest. No specific option has been finalized yet. (Cher Tat Ng, CEO)
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
