Camtek Ltd. has announced its financial results for the first quarter of 2025, highlighting record revenues of $118.6 million, marking a 22% increase compared to the first quarter of 2024. The company reported a GAAP gross margin of 51.0% and a non-GAAP gross margin of 52.1%. GAAP operating income rose to $32.7 million, reflecting a 54% year-over-year increase, while non-GAAP operating income reached $37.3 million, up 29% from the previous year. GAAP net income was reported at $34.3 million, a 38% increase over the same period last year, with a GAAP diluted EPS of $0.70. The non-GAAP net income came in at $38.7 million, up 24% year-over-year, with a non-GAAP diluted EPS of $0.79. Looking ahead, Camtek's management anticipates continued growth in the second quarter of 2025, with revenue guidance between $120 million and $123 million, representing a 17-20% increase compared to the same quarter in the previous year. The company's primary growth driver is advanced packaging, particularly in high-performance computing $(HPC.AU)$ to support AI applications. This includes technological advancements such as the transition from HBM3e to HBM4 devices and the next generation of CoWoS and CoWoS-like solutions, expected to drive demand for enhanced technical capabilities.