WILMINGTON, Mass.--(BUSINESS WIRE)--Onto Innovation Inc. (NYSE: ONTO) (“Onto Innovation”, “Onto”, or the “Company”) today announced Susan Lynch has joined its board of directors. With over 30 years of leadership experience in high technology companies, Susan Lynch brings a strong background in financial leadership to Onto Innovation’s board of directors. She recently served as senior vice president and chief financial officer of V2X (formerly Vectrus, Inc.). Prior to V2X, Susan was executive vice preside ...

WILMINGTON, Mass.--(BUSINESS WIRE)--Onto Innovation Inc. (NYSE: ONTO) and its Tucson subsidiary 4D Technology today announced they’ve been named winner of FANUC America’s prestigious 2024 Innovative System of the Year award for the 4Di InSpec automated metrology system (AMS). The system enables automated surface defect and feature metrology for aviation, aerospace and other applications in the industrial manufacturing market. The patented, vibration-immune technology enables the unique capability of using n ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39110 ONTO INNOVATION INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inco ...

Onto Innovation Inc (ONTO) reported fourth-quarter 2023 earnings of $1.06 per share, which beat the Zacks Consensus Estimate by 7.1%. The bottom line decreased 32.5% year over year.Revenues of $218.9 million beat the Zacks Consensus Estimate by 5.2%. The top line declined 13.6% year over year. The downtick can be mainly attributed to a decline in advanced nodes business and lower services parts revenues.However, revenues came in ahead of the company’s guided range of $200-$216 million owing to better-than-a ...

WILMINGTON, Mass.--(BUSINESS WIRE)--Onto Innovation Inc. (NYSE: ONTO) today announced the launch of the new Firefly® G3 inspection and metrology system for automated process control during high volume production of panel-level substrates. The Firefly G3 system was shipped to a tier one customer supporting a variety of AI chiplet based panel-level packages with several additional customers expected to take delivery in the first half of 2024. The Firefly G3 system’s inspection and metrology capabilities uniqu ...

WILMINGTON, Mass.--(BUSINESS WIRE)--Onto Innovation Inc. (NYSE: ONTO) will release its 2023 fourth quarter and full year results shortly after the market closes on February 8, 2024. Onto Innovation will host a conference call and audio webcast in connection with its release of the financial results. Michael P. Plisinski, chief executive officer, and Mark Slicer, chief financial officer, will host the call. The call will take place: Thursday, February 8, 2024 at 4:30 p.m. (ET) To participate in the call, p ...

The price trend for Onto Innovation (ONTO) has been bearish lately and the stock has lost 10.9% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street anal ...

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Commission File No. 001-39110 ONTO INNOVATION INC. (Exact name of registrant as specified in its charter) (State or other jurisdictio ...

Financial Data and Key Metrics Changes - The company reported third-quarter revenue of $207 million, a 19% decline year-over-year but a 10% increase compared to the second quarter [28] - Operating income was $50 million, representing 24% of revenue, up from 21% in the second quarter [35] - Net income for the third quarter was $48 million, or 23% of revenue, compared to 20% in the second quarter [35] Business Line Data and Key Metrics Changes - Advanced nodes revenue was $26 million, accounting for 13% of total revenue, reflecting a significant decline [28] - Specialty devices and advanced packaging achieved record revenue of $135 million, increasing 20% over the second quarter and representing 65% of total revenue [28] - Software and services revenue reached $46 million, a 13% increase over the second quarter, contributing 22% to total revenue [54] Market Data and Key Metrics Changes - The advanced nodes market is experiencing weakness, with a 30% decline in revenue for the third quarter [20] - Demand for high bandwidth memory (HBM) is surging, with expectations for a 50% growth in the dragonfly G3 product line in the fourth quarter [22] - The company noted that its exposure to the Chinese market is lower than peers, with only 15% of revenue coming from China compared to 40%-50% for others [75] Company Strategy and Development Direction - The company is focusing on the AI semiconductor market, which is expected to grow significantly, with AI-related semiconductors projected to reach $300 billion to $500 billion by 2030 [51] - Advanced packaging technologies are seen as critical for the AI era, with the company emphasizing the importance of 3D and 2.5D packaging [38] - The company is targeting a gross margin of 54% as a baseline goal, with ongoing cost reduction initiatives expected to yield $25 million in savings over the next two years [57] Management's Comments on Operating Environment and Future Outlook - Management expects fourth-quarter revenue to be flat compared to the third quarter, with improvements in gross and operating margins despite a less favorable product mix [22] - The company anticipates that AI device volumes will drive revenue growth in the first half of 2024, independent of a recovery in advanced nodes [43] - Management acknowledged challenges in production capacity and supply chain issues but expressed optimism about future demand and operational improvements [90] Other Important Information - The company added over $110 million in new orders in the last 2.5 months, primarily for high bandwidth memory and process control for 2.5D packaging [38] - Inventory levels decreased to $346 million, down $6 million from the previous quarter, as the company actively manages inventory [55] - The company has $32 million remaining under its existing share repurchase authorization [40] Q&A Session Summary Question: What is the outlook for panel lithography shipments? - Management indicated that $30 million of planned lithography shipments in 2023 will move into 2024 due to production issues [42] Question: How is the company addressing the production capacity challenges? - Management noted that they are working to improve internal capacity and expect to reach full capacity by mid-next year [90] Question: What is the company's exposure to the Chinese market? - The company stated that its exposure to China is lower than peers, with only 15% of revenue coming from that region [75] Question: What are the expectations for advanced nodes recovery? - Management does not anticipate a recovery in advanced nodes in the near term but expects growth in other areas, particularly related to AI [43] Question: Can you clarify the recent order sizes and delivery timelines? - Management confirmed that the company has received over $210 million in orders for delivery between the second half of 2023 and the first half of 2024 [81]

Financial Data and Key Metrics Changes - The company reported revenue of $199 million for the first quarter, a decrease of 17% year-over-year, and just below the midpoint of guidance [1] - Earnings per share (EPS) was $0.92, which is $0.04 above the midpoint of the EPS guidance range of $0.80 to $0.95 [1] - Operating income was $49 million, representing 25% of revenue, down from 31% in the prior year [30] - Net income for the first quarter was $45 million, down 30% year-over-year [30] - Cash and short-term investments increased to $584 million, up $36 million from the start of the year [11] Business Line Data and Key Metrics Changes - Revenue from power devices increased by 20% year-over-year [27] - Advanced nodes revenue was $66 million, a decline of 35% year-over-year, representing 33% of total revenue [29] - Specialty devices and advanced packaging revenue was $93 million, down 6% year-over-year, accounting for 47% of total revenue [29] - Software and services revenue was $40.2 million, down 4% year-over-year, representing 20% of total revenue [29] Market Data and Key Metrics Changes - Revenue from memory customers declined approximately 50% from the fourth quarter [40] - Advanced logic revenue was flat from the fourth quarter, representing 53% of advanced nodes revenue [40] - The company expects strong demand from specialty customers and power, packaging, and EUV wafer manufacturing [62] Company Strategy and Development Direction - The company is focusing on strategic supply chain initiatives and expanding development engagements, expecting over $10 million in cost synergies in 2024 [39] - The company aims to optimize inventory levels to return to the mid-$200 million range by the end of 2023 [45] - The company is committed to delivering $25 million to $30 million in cost reductions for the year [30] Management's Comments on Operating Environment and Future Outlook - Management believes the specialty and advanced packaging markets reached the bottom in the first quarter, with solid growth expected in the second quarter and a stronger second half [47] - The recovery in advanced nodes is anticipated to be slower, with uncertainty regarding the rate of recovery [47] - Management expressed confidence in the momentum of the Iris films segment, expecting strong double-digit revenue growth [65] Other Important Information - The company was awarded the Novel Technology Collaboration Award by TSMC for contributions to process control [24] - The company repurchased an additional 46,000 shares of common stock, bringing the total to over 1 million shares under the current program [31] - The company opened a second demo center in Taiwan to facilitate customer access to advanced equipment [43] Q&A Session Summary Question: Outlook for the second half of the year - Management indicated that while there is expected growth in the second half, it will not be a massive snap back [50] Question: Cost savings and operating expenses - Management confirmed that some cost savings were captured in Q1, with more expected in Q2 and significant benefits anticipated in Q3 and Q4 [70] Question: Performance of the Iris tool - Management expressed confidence in continued share gains for the Iris tool, with expectations for strong double-digit revenue growth [65]