Core Insights - Nova reported record financial results for Q2 2025, with revenues reaching $220 million, a 40% increase year-over-year [5][6] - The company achieved a GAAP net income of $68.3 million, or $2.14 per diluted share, representing a 52% increase compared to Q2 2024 [6][9] - Non-GAAP net income was reported at $70.4 million, or $2.20 per diluted share, a 37% increase year-over-year [6][10] Financial Performance - Total revenues for Q2 2025 were $220 million, up 3% from Q1 2025 and up 40% from Q2 2024 [5] - GAAP net income for Q2 2025 was $68.3 million, compared to $64.8 million in Q1 2025 and $45.1 million in Q2 2024 [9] - Non-GAAP net income for Q2 2025 was $70.4 million, compared to $69.9 million in Q1 2025 and $52.0 million in Q2 2024 [10] Earnings Per Share - Earnings per diluted share on a GAAP basis were $2.14 for Q2 2025, compared to $2.03 in Q1 2025 and $1.41 in Q2 2024 [9] - Non-GAAP earnings per diluted share were $2.20 for Q2 2025, compared to $2.18 in Q1 2025 and $1.61 in Q2 2024 [10] Management Commentary - The CEO highlighted strong client adoption of advanced tools and expects Nova to outperform the wafer fabrication equipment (WFE) market in 2025 [4] Gross Margin and Operating Expenses - Gross margin for Q2 2025 was 57.8%, slightly up from 57.3% in Q1 2025 but down from 59.0% in Q2 2024 [8] - Operating expenses for Q2 2025 were $61.6 million, compared to $59.1 million in Q1 2025 and $46.9 million in Q2 2024 [8] Future Outlook - Management provided guidance for Q3 2025, expecting revenues between $215 million and $227 million and diluted GAAP EPS between $1.77 and $1.97 [7][26]

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].