Nova Reports Fourth Quarter and Record Full Year 2025 Results

Core Insights - Nova reported record financial results for the fourth quarter and full year 2025, highlighting strong demand in semiconductor manufacturing, particularly for AI-related applications [1][2]. Financial Performance - Fourth Quarter 2025 Highlights: - Non-GAAP net income reached $72.2 million, or $2.14 per diluted share, a 10% increase year-over-year (YoY) [1]. - GAAP net income was $64.7 million, or $1.94 per diluted share, a 23% increase YoY [1]. - Quarterly revenue totaled $222.6 million, reflecting a 14% increase YoY [1]. - Full Year 2025 Highlights: - Record annual revenue of $880.6 million, up 31% from $672.4 million in 2024 [1]. - Non-GAAP net income for the year was $282.6 million, or $8.62 per diluted share, a 29% increase YoY [1]. - GAAP net income for the year was $259.2 million, or $7.96 per diluted share, a 38% increase YoY [1]. Operational Metrics - Gross Margin: - Fourth quarter gross margin was 57.6%, compared to 56.7% in Q3 2025 and 56.4% in Q4 2024 [1]. - Full year gross margin was 57.4%, slightly down from 57.6% in 2024 [1]. - Operating Expenses: - Q4 operating expenses were $67.5 million, up from $63.6 million in Q3 2025 and $54.5 million in Q4 2024 [1]. - Full year operating expenses totaled $251.7 million, compared to $199.5 million in 2024 [1]. Strategic Outlook - Management expressed confidence in Nova's positioning to capitalize on the upward investment cycle in 2026, supported by a broad-based momentum and expanding metrology portfolio [1][2]. Guidance for Q1 2026 - Management expects diluted non-GAAP EPS to be between $2.13 and $2.25, and diluted GAAP EPS to be between $1.90 and $2.02, with revenue projected between $222 million and $232 million [1].