Exhibit 99.1

Camtek Ltd.

and its Subsidiaries

Interim Condensed Consolidated

Financial Statements

As of June 30, 2024

(Unaudited)

Camtek Ltd. and its Subsidiaries

Interim Unaudited Condensed Consolidated Financial Statements as at June 30, 2024

Contents

	Page
Interim Unaudited Condensed Consolidated Balance Sheets	F-3
Interim Unaudited Condensed Consolidated Statements of Income	F-4 to F-5
Interim Unaudited Condensed Consolidated Statements of Comprehensive Income	F-6
Interim Unaudited Condensed Consolidated Statements of Shareholders’ Equity	F-7
Interim Unaudited Condensed Consolidated Statements of Cash Flows	F-8 to F-9
Notes to the Interim Unaudited Condensed Consolidated Financial Statements	F-10 to F-20

F - 2

Camtek Ltd. and its Subsidiaries

Interim Unaudited Condensed Consolidated Balance Sheets

		June 30,			December 31,
		2024			2023
	Note	U.S. Dollars (in thousands)
Assets
Current assets
Cash and cash equivalents	4A		86,201			119,968
Short-term deposits			256,250			215,250
Marketable securities	4B		23,615			18,816
Trade accounts receivable, net			68,151			87,300
Inventories	4C		99,215			85,905
Other current assets	4D		27,048			19,548
Total current assets			560,480			546,787
Long term deposits			6,000			21,000
Marketable securities	4B		81,817			73,576
Long term inventory	4C		9,553			9,023
Deferred tax assets, net			2,642			2,642
Other assets, net			1,947			1,370
Property, plant and equipment, net	4E		44,246			41,987
Intangible assets, net	4F		15,145			16,937
Goodwill			74,345			74,345
Total non-current assets			235,695			240,880
Total assets			796,175			787,667
Liabilities and shareholders’ equity
Current liabilities
Trade accounts payable			37,757			42,187
Other current liabilities	4G		69,777			54,487
Total current liabilities			107,534			96,674
Long term liabilities
Deferred tax liabilities, net			5,845			7,541
Other long-term liabilities			9,988			10,473
Convertible notes	4H		197,378			196,831
			213,211			214,845
Total liabilities			320,745			311,519
Shareholders’ equity
Ordinary shares NIS 0.01 par value, 100,000,000 shares authorized at June 30, 2024 and at December 31, 2023;
47,410,314 issued shares at June 30, 2024 and 46,993,998 at December 31, 2023;
45,317,938 shares outstanding at June 30, 2024 and 44,901,622 at December 31, 2023;	3		177			176
Additional paid-in capital			207,615			200,389
Accumulated other comprehensive income (loss)			(534	)		129
Retained earnings			270,070			277,352
			477,328			478,046
Treasury stock, at cost (2,092,376 shares as of June 30, 2024 and December 31, 2023)			(1,898	)		(1,898	)
Total shareholders' equity			475,430			476,148
Total liabilities and shareholders' equity			796,175			787,667

The accompanying notes are an integral part of these interim unaudited condensed consolidated financial statements.

F - 3

Camtek Ltd. and its Subsidiaries

Interim Unaudited Condensed Consolidated Statements of Operations

(In thousands, except per share data)

		Six months ended June 30,						Year ended December 31,
		2024			2023			2023
	Note	U.S. dollars						U.S. dollars
Revenues			199,601			146,215			315,375
Cost of revenues			103,638			77,378			167,742
Gross profit			95,963			68,837			147,633
Research and development costs			18,146			15,672			31,470
Selling, general and
administrative expenses	5A		30,694			24,037			50,751
			48,840			39,709			82,221
Operating profit			47,123			29,128			65,412
Financial income, net	5B		10,624			10,864			22,218
Income before income taxes			57,747			39,992			87,630
Income tax expense			(4,984	)		(4,208	)		(8,998	)
Net income			52,763			35,784			78,632

F - 4

Camtek Ltd. and its Subsidiaries

Interim Unaudited Condensed Consolidated Statements of Operations (contd.)

Net income per ordinary share:

		Six months ended June 30,				Year ended December 31,
		2024		2023		2023
	Note	U.S. dollars				U.S. dollars
Basic net earnings per share			1.17		0.80		1.76
Diluted net earnings per share			1.08		0.74		1.63
Weighted average number of
ordinary shares outstanding
(in thousands):
Basic			45,160		44,562		44,725
Diluted			49,283		48,531		48,863

The accompanying notes are an integral part of these interim unaudited condensed consolidated financial statements.

F - 5

Camtek Ltd. and its Subsidiaries

Interim Unaudited Condensed Consolidated Statements of Comprehensive Income

(In thousands)

	Six months ended June 30,					Year ended December 31,
	2024			2023		2023
	U.S. dollars					U.S. dollars
Net income		52,763			35,784		78,632
Other comprehensive income (loss), net of tax:
Change in net unrealized gains on available-for-sale marketable securities		(663	)		-		740
Deferred tax expense		-			-		(611	)
Total other comprehensive income (loss)		(663	)		-		129
Total comprehensive income		52,100			35,784		78,761

The accompanying notes are an integral part of these interim unaudited condensed consolidated financial statements.

F - 6

Camtek Ltd. and its Subsidiaries

Interim Unaudited Condensed Consolidated Statements of Shareholders’ Equity

													Accumulated
	Ordinary Shares				Number of						Additional		Other						Total
	NIS 0.01 par value				Treasury			Treasury			paid-in		Comprehensive			Retained			shareholders'
	Number of		U.S. Dollars		Shares			Shares			capital		Income (loss)			earnings			equity
	Shares Issued		(in thousands)					U.S. Dollars (in thousands)
Balances at
December 31, 2022		46,505,318		175		(2,092,376	)		(1,898	)		187,105		-			198,720			384,102
Share-based
compensation
expense		-		-		-			-			6,521		-			-			6,521
Exercise of share
options and RSUs		306,186		*		-			-			-		-			-			-
Net income		-		-		-			-			-		-			35,784			35,784
Balances at
June 30, 2023		46,811,504		175		(2,092,376	)		(1,898	)		193,626		-			234,504			426,407
Share-based
compensation
expense		-		-		-			-			6,077		-			-			6,077
Exercise of share
options and RSUs		182,494		1		-			-			181		-			-			182
Share-based
compensation adjustment		-		-		-			-			505					-			505
Unrealised gain on investments		-		-		-			-			-		740			-			740
Deferred tax expense		-		-		-			-			-		(611	)		-			(611	)
Net income		-		-		-			-			-		-			42,848			42,848
Balances at
December 31, 2023		46,993,998		176		(2,092,376	)		(1,898	)		200,389		129			277,352			476,148
Share-based
compensation
expense		-		-		-			-			7,198		-			-			7,198
Exercise of share
options and RSUs		416,316		1		-			-			28		-			-			29
Unrealised gain on investments		-		-		-			-			-		(663	)		-			(663	)
Dividend paid		-		-		-			-			-		-			(60,045	)		(60,045	)
Net income		-		-		-			-			-		-			52,763			52,763
Balances at
June 30, 2024		47,410,314		177		(2,092,376	)		(1,898	)		207,615		(534	)		270,070			475,430

The accompanying notes are an integral part of these interim unaudited condensed consolidated financial statements.

*Represents an amount less than $1,000

F - 7

Camtek Ltd. and its Subsidiaries

Interim Unaudited Condensed Consolidated Statements of Cash Flows

(In thousands)

	Six months ended June 30,						Year ended December 31,
	2024			2023			2023
	U.S. dollars						U.S. dollars
Cash flows from operating activities:
Net income		52,763			35,784			78,632
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization		5,040			2,406			5,784
Deferred tax expense		(1,696	)		280			(1,254	)
Amortization of debt issuance costs		547			547			1,094
Loss on disposal of fixed assets		-			233			6
Share based compensation expense		7,198			6,521			12,598
Change in provision for doubtful debts		112			-			100
Changes in operating assets and liabilities:
Trade accounts receivable		19,267			1,829			(1,890	)
Inventories		(14,467	)		171			(13,692	)
Due from related parties		(1	)		-			(3	)
Other assets		(9,371	)		(5,375	)		(6,766	)
Trade accounts payable		(4,713	)		(231	)		10,121
Other current liabilities		15,467			(9,449	)		(5,406	)
Net cash provided by operating activities		70,146			32,716			79,324
Cash flows from investing activities:
Acquisition of subsidiary consolidated for the first time (a)		1,295			-			(101,781	)
Proceeds from (investment in) short-term deposits		(41,000	)		57,000			36,250
Proceeds from (investment in) long-term deposits		15,000			-			58,000
Purchase of fixed assets		(5,133	)		(4,782	)		(8,097	)
Purchase of intangible assets		(126	)		(60	)		(173	)
Purchase of marketable securities		(25,653	)		-			(103,528	)
Redemption of marketable securities		11,950			-			11,876
Net cash provided by (used in) investing activities		(43,667	)		52,158			(107,453	)

F - 8

Camtek Ltd. and its Subsidiaries

Interim Unaudited Condensed Consolidated Statements of Cash Flows

(In thousands)

	Six months ended June 30,						Year ended December 31,
	2024			2023			2023
	U.S. dollars						U.S. dollars
Cash flows from financing activities:
Proceeds from exercise of share options		29			-			182
Dividend payment		(60,045	)		-			-
Net cash provided by (used in) financing activities		(60,016	)		-			182
Effect of change in exchange rate on cash and cash equivalents		(230	)		(243	)		(241	)
Net increase (decrease) in cash and cash equivalents		(33,767	)		84,631			(28,188	)
Cash and cash equivalents at beginning of the period		119,968			148,156			148,156
Cash and cash equivalents at end of the period		86,201			232,787			119,968

	Year ended December 31, 2023
(a) Acquisition of subsidiary, consolidated for the first time:	U.S. Dollars
Working capital (excluding cash and cash equivalents)		(15,288	)
Fixed assets, net		(1,615	)
Intangible assets		(16,900	)
Goodwill		(74,345	)
Deferred taxes liabilities, net		7,157
Working capital adjustments		(1,295	)
		(102,286	)
Increase in goodwill against share-based compensation		505
		(101,781	)

	Six months ended June 30,				Year ended December 31,
	2024		2023		2023
	U.S. dollars				U.S. dollars
Supplementary cash flows information:
Income taxes paid		4,497		9,626		13,807
Interest received		6,125		6,911		18,685
Lease payments		1,040		735		1,854

Non-cash transactions:
Fixed assets purchased with supplier credit	550	371	267

The accompanying notes are an integral part of these interim unaudited condensed consolidated financial statements.

F - 9

Camtek Ltd. and its Subsidiaries

Notes to the Interim Unaudited Condensed Consolidated Financial Statements

(Amounts in thousands, except per share data)

Note 1 - Nature of Operations

Camtek Ltd. (“Camtek” or the “Company”), an Israeli corporation, is jointly controlled 21.2% by Priortech Ltd., an Israeli corporation listed on the Tel-Aviv Stock Exchange and 17.3% by Chroma Ate Inc., a Taiwanese company (“Chroma”). Camtek provides automated and technologically advanced solutions dedicated to enhancing production processes, increasing product yield and reliability, and enabling and supporting customers’ latest technologies in the semiconductor fabrication industry.

F - 10

Camtek Ltd. and its Subsidiaries

Notes to the Interim Unaudited Condensed Consolidated Financial Statements

(Amounts in thousands, except per share data)

Note 2 - Basis of Preparation

A. Statement of compliance

The accounting policies applied in these interim financial statements are the same as those applied in the Company’s 2023 annual audited consolidated financial statements for the year ended December 31, 2023.

The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and do not include all of the information required for full annual financial statements. The unaudited condensed consolidated interim statements should be read in conjunction with the Company’s 2023 annual audited consolidated financial statements and footnotes, which were filed with the U.S. Securities and Exchange Commission as part of the Company’s Annual Report on Form 20-F for the year ended December 31, 2023.

In the opinion of management of the Company, the accompanying unaudited condensed financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of June 30, 2024, and its results of operations for the six months ended June 30, 2024, and 2023, and cash flows for the six months ended June 30, 2024, and 2023. The condensed balance sheet at December 31, 2023, was derived from the audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements.

F - 11

Camtek Ltd. and its Subsidiaries

Notes to the Interim Unaudited Condensed Consolidated Financial Statements

(Amounts in thousands, except per share data)

Note 3 - Shareholders’ Equity

A. General

The Company’s shares are traded on the NASDAQ Global Market under the symbol “CAMT”, and also listed and traded on the Tel-Aviv stock exchange.

B. Changes in Stock Options and RSUs

The number of stock options exercised in the six-month period ended June 30, 2024, was 416,316.

In the first six months of 2024, 183,329 restricted share units (RSUs) were granted by the Company. The RSUs vest over a four-year period.

C. Share-based Compensation Expense

The total share-based compensation expense amounted to $7,198, $6,521, and $12,598 for the six-month periods ended June 30, 2024 and 2023 and the year ended December 31, 2023, respectively.

F - 12

Camtek Ltd. and its Subsidiaries

Notes to the Interim Unaudited Condensed Consolidated Financial Statements

(Amounts in thousands, except per share data)

Note 4 - Supplementary Financial Statements Information

A. Cash and cash equivalents

The Company’s cash and cash equivalent balance at June 30, 2024 and December 31, 2023 is denominated in the following currencies:

	June 30,		December 31,
	2024		2023
	U.S. Dollars
US Dollars		73,637		113,190
New Israeli Shekels		4,065		2,795
Other currencies		8,499		3,983
		86,201		119,968

Short-term deposits are bank deposits in US Dollars with an original maturity of more than three months and remaining term at the balance sheet date of no more than twelve months. As of June 30, 2024, the average annual interest rate was 6.11%.

B. Marketable Securities

Summary of marketable securities amortized cost, unrealized gains, unrealized losses, and fair value as of June 30, 2024 and December 31, 2023:

	June 30, 2024
	U.S. Dollars
Marketable Securities	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Matures within one year:
Corporate bonds		22,645		2		(32	)		22,615
Government bonds		984		16		-			1,000
		23,629		18		(32	)		23,615
Matures after one year:
Corporate bonds		73,278		111		(380	)		73,009
Government bonds		8,798		12		(2	)		8,808
		82,076		123		(382	)		81,817
		105,705		141		(414	)		105,432

F - 13

Camtek Ltd. and its Subsidiaries

Notes to the Interim Unaudited Condensed Consolidated Financial Statements

(Amounts in thousands, except per share data)

Note 4 - Supplementary Financial Statements Information (cont’d)

B. Marketable Securities (cont’d)

	December 31, 2023
	U.S. Dollars
Marketable Securities	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Matures within one year:
Corporate bonds		9,821		7		(9	)		9,819
Government bonds		8,983		14		-			8,997
		18,804		21		(9	)		18,816
Matures after one year:
Corporate bonds		64,033		574		(3	)		64,604
Government bonds		8,815		157		-			8,972
		72,848		731		(3	)		73,576
		91,652		752		(12	)		92,392

The amortized cost and estimated fair value of marketable securities classified by the maturity date listed on the security, regardless of the Consolidated Balance Sheet classification, is as follows at June 30, 2024 and December 31, 2023:

	June 30, 2024
	Amortized Cost		Fair Value
	U.S. Dollars
Due within one year		23,629		23,615
Due after one through five years		52,239		51,937
Due after five through ten years		29,837		29,880
Total marketable securities		105,705		105,432

	December 31, 2023
	Amortized Cost		Fair Value
	U.S. Dollars (in thousands)
Due within one year		18,804		18,816
Due after one through five years		72,210		72,908
Due after five through ten years		638		668
Total marketable securities		91,652		92,392

F - 14

Camtek Ltd. and its Subsidiaries

Notes to the Interim Unaudited Condensed Consolidated Financial Statements

(Amounts in thousands, except per share data)

Note 4 - Supplementary Financial Statements Information (cont’d)

B. Marketable Securities (cont’d)

The following table summarizes the estimated fair value and gross unrealized holding losses of marketable securities, aggregated by investment instrument and period of time in an unrealized loss position, at June 30, 2024 and December 31, 2023.

	In Unrealized Loss Position For Less Than 12 Months
June 30, 2024	Fair Value		Gross Unrealized Loss
	U.S. Dollars
Corporate bonds		73,903		(412	)
Government bonds		2,016		(2	)
		75,919		(414	)

	In Unrealized Loss Position For Less Than 12 Months
December 31, 2023	Fair Value		Gross Unrealized Loss
	U.S. Dollars
Corporate bonds		5,154		(12	)
		5,154		(12	)

The level in the fair value hierarchy within which an asset or liability is classified is based on the lowest level input that is significant to the fair value measurement in its entirety.

The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023, aggregated by the level in the fair-value hierarchy within which those measurements fall:

	June 30, 2024		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Description
	U.S. Dollars
Assets
Marketable securities (current assets)		23,615		1,000		22,615		-
Marketable securities (non-current assets		81,817		8,808		73,009		-
Total Assets		105,432		9,808		95,624		-

F - 15

Camtek Ltd. and its Subsidiaries

Notes to the Interim Unaudited Condensed Consolidated Financial Statements

(Amounts in thousands, except per share data)

Note 4 - Supplementary Financial Statements Information (cont’d)

 

B. Marketable Securities (cont’d)

	December 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Description
	U.S. Dollars
Assets
Marketable securities (current assets)		18,816		6,988		11,828		-
Marketable securities (non-current assets		73,576		6,981		66,595		-
Total Assets		92,392		13,969		78,423		-

The Company’s accounting policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. In the periods ended June 30, 2024 and December 31, 2023, the Company invested in marketable securities.

Marketable securities are classified within Level 2 because these assets are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

C. Inventories

	June 30,		December 31,
	2024		2023
	U.S. Dollars
Components		60,438		55,598
Work in process		26,817		20,038
Finished products (including systems at customer locations not yet sold)		21,513		19,292
		108,768		94,928

Inventories are presented in:

	June 30,		December 31,
	2024		2023
	U.S. Dollars
Current assets		99,215		85,905
Long-term assets		9,553		9,023
		108,768		94,928

F - 16

Camtek Ltd. and its Subsidiaries

Notes to the Interim Unaudited Condensed Consolidated Financial Statements

(Amounts in thousands, except per share data)

Note 4 - Supplementary Financial Statements Information (cont’d)

D. Other Current Assets

	June 30,		December 31,
	2024		2023
	U.S. Dollars
Interest receivable		13,355		8,386
Due from Government institutions and income tax receivables		7,696		3,690
Prepaid expenses and vendor downpayments		4,996		5,164
Other		1,001		2,308
		27,048		19,548

E. Property, Plant and Equipment, Net

	June 30,		December 31,
	2024		2023
	U.S. Dollars
Land		1,401		1,401
Building		21,733		20,730
Machinery and equipment		30,187		27,626
Office furniture and equipment		1,061		1,057
Computer equipment and software		6,386		6,542
Automobiles		431		429
Leasehold improvements		2,237		2,100
Right of use assets		7,002		7,187
		70,438		67,072
Less - accumulated depreciation		26,192		25,085
		44,246		41,987

F - 17

Camtek Ltd. and its Subsidiaries

Notes to the Interim Unaudited Condensed Consolidated Financial Statements

(Amounts in thousands, except per share data)

Note 4 - Supplementary Financial Statements Information (cont’d)

F. Intangible Assets, Net

	June 30,		December 31,
	2024		2024
	U.S. Dollars
Cost:
Patent registration costs		2,434		2,308
Acquired technology		12,200		12,200
Acquired trade names		2,700		2,700
Acquired customer relationship		2,000		2,000
		19,334		19,208
Less accumulated amortization		4,189		2,271
Total intangible assets, net		15,145		16,937

G. Other Current Liabilities

	June 30,		December 31,
	2024		2023
	U.S. Dollars
Commissions		12,617		13,588
Advances from customers and deferred revenues		26,585		14,701
Accrued employee compensation and related benefits		14,362		13,137
Accrued warranty costs (1)		3,713		3,397
Government institutions and income tax payable		7,633		5,316
Accrued expenses		3,133		2,661
Operating lease obligations		1,734		1,687
(1)         Changes in the accrued warranty costs are as follows:		69,777		54,487

	June 30,			December 31,
	2024			2023
	U.S. Dollars
Beginning of period		3,397			3,161
Accruals		3,453			5,505
Usage		(3,137	)		(5,269	)
Balance at end of period		3,713			3,397

F - 18

Camtek Ltd. and its Subsidiaries

Notes to the Interim Unaudited Condensed Consolidated Financial Statements

(Amounts in thousands, except per share data)

Note 4 - Supplementary Financial Statements Information (cont’d)

H. Convertible Notes

The Convertible Senior Notes consisted of the following:

	June 30,			December 31,
	2024			2023
	U.S. Dollars
Liability:
Principle:		200,000			200,000
Unamortized issuance costs		(2,622	)		(3,169	)
Net carrying amount		197,378			196,831

As of June 30, 2024, the debt issuance costs of the Notes will be amortized over the remaining term of approximately 2.5 years.

The annual effective interest rate of the Notes is 0.56%. In the six-months ended June 30, 2024, $547 was recorded as amortization of debt issuance costs (In the year ended December 31, 2023 - $1,094).

As of June 30, 2024, the estimated fair value of the Notes, which the Company has classified as Level 2 financial instruments, is $441,843 (December 31, 2023 - $258,941). The estimated fair value was determined based on the quoted bid price of the Notes in an over-the-counter market on the last trading day of the reporting period.

As of June 30, 2024, the principal amount exceeded the if-converted value of the Notes by $241,843 (December 31, 2023, the principal amount exceeded the if-converted value of the Notes by $58,941).

F - 19

Camtek Ltd. and its Subsidiaries

Notes to the Interim Unaudited Condensed Consolidated Financial Statements

(Amounts in thousands, except per share data)

Note 5 - Statements of Operations

A. Selling, general and administrative expenses

	Six months ended June 30,				Year ended December 31,
	2024		2023		2023
	U.S. Dollars
Selling (1)		23,004		17,910		36,896
General and administrative		7,690		6,127		13,855
		30,694		24,037		50,751
(1)      Including shipping and handling costs		2,029		1,025		2,744

B. Financial income (expenses), net

	Six months ended June 30,						Year ended December 31,
	2024			2023			2023
	U.S. Dollars
Interest income		11,812			11,838			24,051
Amortization of issuance costs of convertible notes		(547	)		(547	)		(1,094	)
Other, net (1)		(641	)		(427	)		(739	)
		10,624			10,864			22,218
(1)      Including foreign currency expense resulting from transactions not denominated in U.S. Dollars		(313	)		(172	)		(78	)

F - 20