Nova Investor Presentation May 2025 1 © Nova confidential & proprietary information Use of Non-GAAP Adjusted Financial Measures This presentation provides financial measures that exclude amortization of acquired intangible assets, acquisition-related expenses, inventory step-up and contingent consideration revaluation, stock-based compensation expenses, revaluation of operating lease liabilities and remeasurement of intercompany loans, amortization of debt discount and issuance costs and tax effect of non-G ...

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Nova Ltd. (NASDAQ:NVMI) Q1 2025 Earnings Conference Call May 8, 2025 8:30 AM ET Company Participants Miri Segal - CEO of MSIR, IR Gaby Waisman - President & CEO Guy Kizner - CFO Conference Call Participants Ezra Weener - Jefferies Atif Malik - Citi Mark Lipacis - Evercore Mark Miller - The Benchmark Company Charles Shi - Needham Operator Good day, and welcome to the Nova Limited First Quarter 2025 Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's pr ...

Core Insights - Nova Ltd. reported quarterly earnings of $2.18 per share, exceeding the Zacks Consensus Estimate of $2.08 per share, and showing a significant increase from $1.39 per share a year ago, representing an earnings surprise of 4.81% [1] - The company achieved revenues of $213.36 million for the quarter, surpassing the Zacks Consensus Estimate by 1.41%, and up from $141.8 million year-over-year [2] - Nova Ltd. has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2] Earnings Outlook - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $2.05 on revenues of $210.6 million, and for the current fiscal year, it is $8.30 on revenues of $840.7 million [7] Industry Context - The Electronics - Semiconductors industry, to which Nova Ltd. belongs, is currently ranked in the bottom 43% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Nova Ltd.'s performance [5][6]

Financial Data and Key Metrics Changes - Nova achieved record revenues of $213 million in Q1 2025, reflecting a 50% year-over-year growth and a 10% quarter-over-quarter increase [17][18] - Non-GAAP EPS increased by 56% year-over-year, reaching $2.18 per diluted share, while GAAP EPS was $2.03 per diluted share [19] - Blended gross margins were 57% on a GAAP basis and 59.6% on a non-GAAP basis, within the target range of 57% to 60% [18][19] Business Line Data and Key Metrics Changes - Significant revenue growth was noted in Gate All Around and Advanced Packaging Solutions, with record sales from the Prism platform and integrated metrology solutions [9][10] - The software business also achieved record performance, driven by strong sales targeting high-value applications [11] - Service revenues grew more than 30% year-over-year, indicating robust demand across various segments [13] Market Data and Key Metrics Changes - Nova's market share in the thin film and CD metrology segment increased, solidifying its position as the second-largest vendor in this market [6] - Demand for semiconductor manufacturing capacity is driven by AI applications, with stable demand for mature nodes [7][15] Company Strategy and Development Direction - The company is focused on operational excellence and adapting to market dynamics, with a strong emphasis on R&D and sales to support future growth [5][19] - Nova completed the acquisition of Centronics, which is expected to significantly contribute to business growth in Q2 2025 [13][20] - The company is committed to sustainability, as highlighted in its 2025 Sustainability Insights Report, which includes updated KPIs and goals [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to outperform in 2025, despite macroeconomic uncertainties and potential impacts from international trade dynamics [16][22] - The company anticipates continued strong demand patterns in Q2 2025, with revenues expected between $210 million and $220 million [22] Other Important Information - The effective tax rate for Q1 2025 was approximately 15%, and operating expenses increased to $59 million on a GAAP basis [19][20] - The company ended Q1 2025 with $812 million in cash and marketable securities, having deployed $20 million in share buybacks [20] Q&A Session Summary Question: Can you talk about where you are in the gate all around ramp? - Management indicated a strong ramp in the first half of the year, with expectations to meet growth plans, though market conditions may affect the second half outlook [26][27] Question: Can you discuss the size of the opportunity between R&D and high volume manufacturing? - Management noted that initial investments are reflecting pilot lines, with expectations for growth as the business transitions to high volume manufacturing [28] Question: Can you elaborate on the moving pieces for gross margin? - Management explained that gross margin should be viewed on an annual basis, with expected impacts from tariffs and product mix affecting Q2 margins [29] Question: Did you see any revenue impact in China from tariffs? - Management confirmed no significant revenue impact in China, with the main tariff impact being on gross margins [34] Question: What is the margin profile of your backlog? - Management stated that the margin profile of the backlog is similar to recent reported margins [50] Question: What is the outlook for the China business going into the second half? - Management expects nominal value from the China business to remain flat or slightly decline, with a good backlog for upcoming quarters [55]

Financial Data and Key Metrics Changes - Nova achieved record results in both revenue and profitability, with revenues growing 50% year over year and non-GAAP EPS increasing by 56% year over year [4][16] - Total revenues for Q1 2025 reached $213 million, representing a 10% quarter-over-quarter growth and a 50% year-over-year growth [16][17] - Blended gross margins were 57% on a GAAP basis and 59.6% on a non-GAAP basis, attributed to a favorable product mix and higher revenue volume growth [18] - Operating margins reached 30% on a GAAP basis and 34.5% on a non-GAAP basis, surpassing the upper range of the updated target model [19] Business Line Data and Key Metrics Changes - Significant revenue increases were noted in Gate All Around and Advanced Packaging processes, with record sales from the Prism platform and integrated metrology solutions [7][10] - The software business achieved record performance driven by strong sales of the software suite targeting high-value applications [10] - Service revenues grew more than 30% year over year, indicating robust demand across various segments [12] Market Data and Key Metrics Changes - Nova's market share increased significantly in the thin film and CD metrology segment, solidifying its position as the second-largest vendor in this market [5] - Demand for semiconductor manufacturing capacity is robust, driven by AI applications, with stable demand for mature nodes [6][14] - The company expects positive trends to continue, despite macroeconomic uncertainties impacting various sectors [6][14] Company Strategy and Development Direction - The company is focused on operational excellence and adapting to evolving market dynamics, with a strong emphasis on R&D and sales to unlock future growth opportunities [5][19] - Nova completed the acquisition of Centronics and moved into a new facility in Germany, which is expected to significantly enhance its chemical metrology division [12][13] - The company published its 2025 Sustainability Insights Report, highlighting milestones in renewable energy use and greenhouse gas emissions reduction [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to outperform in 2025, despite challenges in visibility due to the current global trade environment [15] - The company anticipates similar strong demand patterns in Q2 2025, with a cautious outlook for the second half of the year due to uncertainties [15][51] - Management noted that while there are concerns regarding customer demand shifts, no significant changes have been observed [42] Other Important Information - The effective tax rate for Q1 was approximately 15%, with GAAP EPS at $2.03 and non-GAAP EPS at $2.18 per diluted share [19] - The company ended Q1 with $812 million in cash and equivalents, having deployed $20 million in share buybacks [20] Q&A Session Summary Question: Can you talk about where you are in the gate all around ramp? - Management sees a ramp in the first half of the year with strong demand and expects to meet growth plans, though market conditions may affect the second half outlook [26][27] Question: Can you discuss the size of the opportunity between R&D and high volume manufacturing? - The initial investments are expected to grow as the business transitions to high volume manufacturing, with growth anticipated in 2025 and 2026 [28] Question: Can you elaborate on the moving pieces for gross margin? - The gross margin is viewed on an annual basis, with expected impacts from tariffs and product mix affecting the second quarter [29] Question: Did you see any revenue impact in China from tariffs? - Currently, there is no observed impact on the top line from tariffs, and service growth is expected to meet targets for 2025 [33] Question: What is the framework for tariff impacts? - The main impact on gross margin comes from the BOM of machines, with most supply chains localized, resulting in a modest impact [35][36] Question: What is the outlook for China in the second half? - The nominal value from the China business is expected to stay flat or slightly decline year over year, with strong performance anticipated in other regions [54]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of May 2025 Commission File No.: 000-30668 NOVA LTD. (Translation of registrant's name into English) 5 David Fikes Street, Rehovot, Israel (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☒ Form ...

Core Insights - Nova reported exceptional financial results for Q1 2025, achieving record revenue and profitability, driven by strong demand in AI, Gate-All-Around, and advanced packaging markets [6][9]. Financial Performance - Total revenues for Q1 2025 were $213.4 million, a 10% increase from Q4 2024 and a 50% increase from Q1 2024 [7][9]. - GAAP net income reached $64.8 million, or $2.03 per diluted share, representing a 28% increase QoQ and a 77% increase YoY [9][11]. - Non-GAAP net income was $70.0 million, or $2.18 per diluted share, a 12% increase QoQ and a 56% increase YoY [9][12]. - Gross margin for Q1 2025 was 57%, compared to 56% in Q4 2024 and 59% in Q1 2024 [8][9]. Operational Highlights - The company completed the acquisition of Sentronics metrology GmbH, enhancing its capabilities in wafer metrology tools for backend semiconductor fabrication [9]. - Strong quarterly performance was attributed to increasing adoption of Nova's solutions across various semiconductor process steps [9]. Outlook - For Q2 2025, management expects revenues between $210 million and $220 million, with diluted GAAP EPS projected between $1.70 and $1.88, and diluted non-GAAP EPS between $1.96 and $2.14 [10][26].

Core Viewpoint - Nova Ltd. is expected to report strong first-quarter 2025 results, with anticipated revenues between $205 million and $215 million, reflecting a significant year-over-year growth of 48.38% [1][2] Revenue and Earnings Expectations - The Zacks Consensus Estimate for first-quarter 2025 revenues is $210.4 million, indicating a growth of 48.38% from the previous year [1] - The consensus for first-quarter earnings is set at $2.08 per share, suggesting a year-over-year increase of 49.64% [2] Performance History - Nova has consistently beaten the Zacks Consensus Estimate in the last four quarters, with an average earnings surprise of 9.28% [2] Key Growth Drivers - The upcoming results are expected to benefit from strong growth in the Materials Metrology portfolio, particularly from VeraFlex, Elipson, and Metrion solutions [2] - Continued demand for dimensional stand-alone OCD solutions, driven by unique capabilities in Gate-All-Around and advanced packaging applications, is a key catalyst for growth [2] - Increased exposure to new markets and a differentiated portfolio, along with rising AI-related demand for energy-efficient computing, are positive indicators for the company's prospects [3] - The acquisition of Sentronics Metrology is also expected to contribute to growth in the first quarter [3] Earnings ESP and Zacks Rank - Nova has an Earnings ESP of 0.00% and a Zacks Rank of 2 (Buy), which indicates a moderate likelihood of an earnings beat [4]

QIMC Enters Strategic Exploration Agreement with QMET for Nova Scotia Natural Hydrogen and Helium InitiativeMay 06, 2025 7:30 AM EDT | Source: Quebec Innovative Materials Corp.Montreal, Quebec--(Newsfile Corp. - May 6, 2025) - Quebec Innovative Materials Corp. (CSE: QIMC) (OTCQB: QIMCF) (FSE: 7FJ) ("QIMC" or the "Company") is pleased to announce the signing of a strategic exploration contract with Q Precious & Battery Metals Corp. (QMET). This contract encompasses comprehensive district-wide e ...