Page 1

Exhibit 99.1 News Release AXCELIS ANNOUNCES FINANCIAL RESULTS FOR FIRST QUARTER 2021 The Company Expects to Exceed $ 550M Revenues in 2021 axcelis BEVERLY , Mass . — - May 4 , 2021 - Axcelis Technologies , Inc. ( Nasdaq : ACLS ) today announced financial results for the first quarter ended March 31 , 2021 . Highlights for the first quarter are as follows : The Company reported first quarter revenue of $ 132.8 million , compared to $ 122.2 million for the fourth quarter of 2020 . Operating profit for the quarter was $ 20.3 million , compared to $ 14.1 million for the fourth quarter . Net income for the quarter was $ 16.5 million , or $ 0.48 per diluted share , compared to net income of $ 14.7 million , or $ 0.43 per diluted share for the fourth quarter . Gross margin for the quarter was 42.5 % , compared to 43.4 % in the fourth quarter . Cash , cash equivalents and restricted cash were $ 207.5 million on March 31 , 2021 , compared to $ 204.2 million on December 31 , 2020 . Shipped the first Purion H200 ™ SiC tool , enabling Axcelis to provide power device customers with a full suite of Purion products to support all of their ion implant needs . Closed the evaluation of a Purion VXE ™ and shipped a Purion XEmax ™ evaluation to a second customer for use in advanced image sensor development . President and CEO Mary Puma commented , " Axcelis delivered strong first quarter financial performance , driven by the growing demand for our Purion ™ products and strength across a number of markets . Given market trends and the traction of our Purion base products and product line extensions , Axcelis is on track to exceed $ 550 million in revenue for the full year 2021 , achieving this goal a full year ahead of schedule . " Business Outlook For the second quarter ending June 30 , 2021 , Axcelis expects revenues ranging from $ 135 to $ 140 million . Gross margin in the second quarter is expected to be approximately 41.5 % . Second quarter operating profit is forecasted to be in the range of $ 19-21 million with earnings per diluted share in the range of $ 0.43-0.47 . First Quarter 2021 Conference Call The Company will host a call to discuss the results for the first quarter on Wednesday , May 5 , 2021 at 8:30 am ET . The call will be available to interested listeners via an audio webcast that can be accessed through the Investors page of Axcelis ' website at www.axcelis.com , or by dialing 866.588.8911 ( 707.294.1561 outside North America ) . Participants calling into the conference call will be requested to provide the company name , Axcelis Technologies , and Audience Passcode : 7664896. Webcast replays will be available for 30 days following the call .