Q1 2026 ASMPT Ltd Earnings Call Transcript
Key Points
- 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.
- 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.
- ASMPT Ltd (ASMVF) received the prestigious Intel Epic Supplier Award for 2026, highlighting its excellence in business collaboration and technical capability.
- 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.
- ASMPT Ltd (ASMVF) demonstrated operational leverage with improved adjusted margins, supported by favorable product mix and volume, exceeding market expectations.
- Despite strong bookings, SMT revenue declined by 11% quarter on quarter due to seasonality, although it increased year on year.
- The company's adjusted operating expenses increased by 12.4% year on year, impacted by unfavorable foreign exchange rates and strategic investments.
- Visibility for the second half of 2026 remains limited, posing challenges in forecasting future performance.
- The company faces supply chain constraints, particularly in the SMT segment, which may impact revenue conversion in the short term.
- ASMPT Ltd (ASMVF) is still in the process of evaluating strategic options for its SMT division, with no specific timeline for potential divestment.
(audio in progress) before we move on to the next item.
CPO represents a paradigm shift in AI system design, bringing optical engines closer to compute silicon to reduce electrical losses, lower power consumption and improved system efficiency. Our CPO solutions enable high precision bonding to integrate diverse components, including fiber array unit, microlens, electronic IC and photonic IC into a single high-performance optical engine.
We have deepened our engagement with multiple leading global players, and this positions the group well to gain market share as CPO adoption accelerates.
Looking now at our flip-chip solutions. I'm pleased to update that they registered strong bookings growth, both QoQ and year on year. This momentum is coming from two areas. First, there is an accelerated adoption of 2.5D packaging for larger AI package sizes that is driving a steady pipeline of opportunities for embedded bridge die-bonding solutions for both chip-on-wafer and chip-on-panel solutions.
Second, we
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