Value Hound
Long/short equity, small-cap, tech, solar

Camtek: Modeling The GreenJet Effect

In this article I'll try to model the effect the GreenJet soldermask printer can have on Camtek's (NASDAQ:CAMT) results and zoom in on the basic assumption underlying Camtek's market size assumptions. If you haven't heard about the GreenJet, I suggest reading my previous articles about Camtek, here and here.

The best part of Camtek's potential market for its upcoming GreenJet printer is ink sales. Thus, breaking down the company estimation of the ink TAM of $500M-$600M will give us tools to estimate revenues from any particular GreenJet sale.

Business wise, the GreenJet business is not too complicated. Camtek sells a printer for about $300K to a PCB manufacturer. That manufacturer then operates his business and consumes soldermask...

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