BE Semiconductor Industries (BESI)
BE Semiconductor Industries (Besi) makes the high-precision assembly tools for advanced chip packaging: die attach, thermo-compression bonding, and the hybrid bonding systems that AI accelerators, HBM, and chiplets need. Q1 2026 revenue rose 28% to 184.9 million euros and orders more than doubled to 269.7 million euros. It reports next on July 23, 2026.
| Ticker | BESI |
|---|---|
| Exchange | Euronext Amsterdam |
| Sector | Information Technology · Semiconductor Equipment (Advanced Packaging) |
| Country | Netherlands |
| Wikidata | Q48988067 |
| Last updated | 2026-06-15 |
Next event: Next earnings · Q2 2026 , confirmed · Date stated in Besi's Q1 2026 release; confirm timing on the financial calendar closer to the date. (source)
Latest reported quarter: Q1 2026 (ended Mar 31, 2026) (reported 2026-04-23)
Besi reported Q1 2026 revenue of 184.9 million euros, up 28% year over year and 11% sequentially, with a 63.5% gross margin and net income of 51.6 million euros, up 64%. Orders more than doubled year over year to 269.7 million euros, driven by a sharp rise in hybrid-bonding bookings that exceeded the prior quarterly peak.
| Revenue | €184.9M +28.3% YoY · +11.1% quarter over quarter |
|---|---|
| Orders | €269.7M +104.5% YoY · Driven by hybrid bonding; above the prior quarterly peak |
| Gross margin | 63.5% |
| Net income | €51.6M +63.8% YoY · EPS €0.65 |
Guidance: Q2 2026
| Revenue | +30% to +40% QoQ · vs €184.9M in Q1 2026 |
|---|---|
| Gross margin | 64%-66% |
Guidance issued with Q1 2026 results on April 23, 2026.
Recent & upcoming events
- · Applied Materials Kinex hybrid bonder developed with Besi. Applied Materials unveiled the Kinex die-to-wafer hybrid bonding system, developed collaboratively with Besi and described as the industry's first integrated die-to-wafer hybrid bonder for advanced AI logic and memory. (source)
- · Q1 2026: orders more than double on hybrid bonding. Revenue of 184.9 million euros (+28% YoY) and orders of 269.7 million euros (+104.5% YoY); hybrid-bonding unit orders more than doubled sequentially to a new peak, with 20 hybrid-bonding customers and HBM evaluation tools shipped to a second memory maker. (source)
- · Early redemption of €175M convertible bonds. Besi announced the early redemption of 175 million euros of senior unsecured convertible bonds due 2029. (source)
Q1 2026 figures are from Besi's earnings release (quarter ended March 31, 2026). Besi reports in euros.
Figures are as of 2026-06-15 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does BE Semiconductor Industries do?
Besi is a Dutch maker of back-end semiconductor assembly equipment, the machines that take finished dies and bond them into packages. Its product lines cover die attach, flip-chip, plating, thermo-compression bonding, and hybrid bonding, sold to Amkor and other outsourced assemblers, foundries such as TSMC, and memory makers. The company is the recognized leader in hybrid bonding, the highest-precision method of stacking chips, which is becoming the bottleneck technology for AI accelerators and high-bandwidth memory (Besi, Apr 23, 2026).
How is AI driving Besi’s business?
AI accelerators and HBM stacks bond far more dies, at far tighter pitch, than conventional chips, and that pushes packaging toward hybrid bonding, where Besi leads. In Q1 2026 hybrid-bonding unit orders more than doubled sequentially and exceeded the prior quarterly peak, Besi reached 20 hybrid-bonding customers, and it shipped HBM evaluation tools to a second memory maker, with 2.5D AI computing cited as a revenue driver (Besi, Apr 23, 2026). Applied Materials’ Kinex integrated die-to-wafer hybrid bonder was co-developed with Besi (Applied Materials, Oct 7, 2025). CEO Richard Blickman summed up the quarter:
“Besi reported strong first quarter results and advanced packaging orders in an improving industry environment.”
— Richard W. Blickman, President and CEO, BE Semiconductor Industries (Besi, Apr 23, 2026)
What did Besi report most recently?
In Q1 2026 (the quarter ended March 31, 2026), revenue was 184.9 million euros, up 28% year over year and 11% sequentially, with a 63.5% gross margin and net income of 51.6 million euros, up 64% (Besi, Apr 23, 2026). Orders more than doubled year over year to 269.7 million euros. Besi guided Q2 2026 revenue up 30% to 40% sequentially with gross margin of 64% to 66% (Besi, Apr 23, 2026).
What are the risks for Besi?
- Order lumpiness. As an equipment maker, Besi’s bookings track customers’ packaging investment cycles; a pause in AI or HBM capacity additions would hit orders quickly.
- Hybrid-bonding timing. Hybrid bonding is still ramping, and adoption depends on customers moving from evaluation to volume.
- Competition. Larger equipment makers are pushing into advanced packaging, including through partnerships.
- Valuation. The shares price in a continued advanced-packaging transition, so a slowdown would compress the multiple (Besi, Apr 23, 2026).
Related securities, concepts & terms
Besi is a representative company of the AI Advanced Chip Packaging concept.
- AI Advanced Chip Packaging parent
- Amkor Technology (AMKR) sibling
- Hanmi Semiconductor (042700) sibling
- Taiwan Semiconductor (TSM) related
- Advanced Chip Packaging related
- HBM (High Bandwidth Memory) related
Frequently asked questions about Besi
What does BE Semiconductor Industries do?
Besi makes the high-precision assembly machines that bond chips into packages: die attach, flip-chip, plating, thermo-compression bonding, and hybrid bonding. Its tools are central to advanced 2.5D and 3D packaging for AI accelerators, high-bandwidth memory, and chiplets, where it is the leader in hybrid bonding (Besi, Apr 23, 2026).
What was Besi's latest quarterly revenue?
In Q1 2026 (the quarter ended March 31, 2026) revenue was 184.9 million euros, up 28% year over year and 11% sequentially, with a 63.5% gross margin and net income of 51.6 million euros, up 64% (Besi, Apr 23, 2026). Orders more than doubled year over year to 269.7 million euros.
How is AI driving Besi's business?
AI accelerators stack and bond more dies than ever, and the highest-density method, hybrid bonding, is Besi's specialty. In Q1 2026 hybrid-bonding unit orders more than doubled sequentially to a new peak, Besi reached 20 hybrid-bonding customers, and it shipped HBM evaluation tools to a second memory maker, while 2.5D AI computing helped lift revenue (Besi, Apr 23, 2026). Applied Materials' Kinex die-to-wafer hybrid bonder was co-developed with Besi (Applied Materials, Oct 7, 2025).
When does Besi report its next earnings?
Besi has indicated it will report Q2 2026 results on July 23, 2026, the date stated in its Q1 2026 release; confirm timing on the company's financial calendar closer to the date (Besi, Apr 23, 2026). It last reported Q1 2026 on April 23, 2026.
What are the risks for Besi?
Besi is a capital-equipment maker, so its orders are lumpy and tied to customers' packaging investment cycles; a pause in AI or HBM capacity additions would hit bookings quickly. Hybrid bonding is still ramping, competition from larger equipment makers is rising, and the stock trades at a high multiple that assumes the advanced-packaging transition continues (Besi, Apr 23, 2026).
Sources & references
- BE Semiconductor Industries N.V. Announces Q1-26 Results · BE Semiconductor Industries N.V., 2026-04-23
- BE Semiconductor Industries N.V. Announces Q1-26 Results (full release) · BE Semiconductor Industries N.V. (GlobeNewswire), 2026-04-23
- Applied Materials Unveils Next-Gen Chipmaking Products to Supercharge AI Performance (Kinex hybrid bonder with Besi) · Applied Materials, Inc. (GlobeNewswire), 2025-10-07
- Hybrid Bonding (product technology) · BE Semiconductor Industries N.V., 2026-06-15
- BE Semiconductor Industries · Investor Relations · BE Semiconductor Industries N.V., 2026-06-15