StockNews.AI
ONTO
StockNews.AI
194 days

Onto Innovation Reports 2024 Fourth Quarter and Full Year Results

1. Record revenue of $264 million in Q4 2024. 2. Full year revenue grew 21% to $987 million. 3. GAAP diluted EPS of $0.98; non-GAAP EPS of $1.51. 4. AI packaging revenue surged by 180% over 2023. 5. New products targeting advanced technology sectors launched.

192m saved
Insight
Article

FAQ

Why Very Bullish?

Strong revenue growth and profitable performance often lead to increased investor confidence, akin to past instances where similar performance in Q4 boosted stock prices significantly.

How important is it?

The robust financial results directly reflect Onto Innovation's operational success which strongly influences market perception and investor behavior.

Why Long Term?

Sustained growth and product development drive long-term positive sentiment, as seen in cases where consistent revenue increases have resulted in sustained price appreciation.

Related Companies

WOLFAMDINTC

Onto Innovation Reports 2024 Fourth Quarter and Full Year Results

Record quarterly revenue with full year revenue growth of 21%

WILMINGTON, Mass.--()--Onto Innovation Inc. (NYSE: ONTO) (“Onto Innovation,” “Onto,” or the “Company”) today announced financial results for the fourth quarter and full year 2024.

2024 Fourth Quarter Financial Highlights

  • Record revenue of $264 million led by advanced nodes and advanced packaging markets, delivering sixth consecutive quarter of growth.
  • GAAP gross margin of 50% and non-GAAP gross margin of 55%, excluding acquisition and restructuring-related charges.
  • GAAP operating income of $42 million and non-GAAP operating income of $75 million.
  • GAAP net income of $49 million and non-GAAP net income of $75 million.
  • GAAP diluted earnings per share of $0.98; non-GAAP diluted earnings per share of $1.51 above the high end of guidance range.
  • Cash from operations of $56 million, or 21% of revenue.

2024 Full Year Financial Highlights

  • Total revenue of $987 million grew 21% over 2023.
  • Cash generated from operations of $246 million improved by 43% over 2023.
  • Full year GAAP diluted earnings per share of $4.06 grew 65% over 2023.
  • Full year non-GAAP diluted earnings per share of $5.34 grew 43% over 2023.

Fourth Quarter and Full Year Business Highlights

  • AI packaging revenue grew 180% over 2023.
  • Advanced nodes revenue improved for the fourth consecutive quarter, with momentum expected to continue in 2025.
  • New products released to support next generation 3D interconnect technology and inspection tools for unpatterned wafer, panel and compound semiconductor applications.

Michael Plisinski, chief executive officer of Onto Innovation, commented, “Onto Innovation finished the year strongly, carried forward by investments in AI, power semiconductors, and new gate all around transistor technology. The current market momentum in AI packaging and increased demand from the advanced nodes combined with the new products we recently launched position us to continue to address the challenges our customers face today and into the future.”

Key Quarterly Financial Data December 28, 2024 September 28, 2024 December 30, 2023
U.S. GAAP Amount Amount Amount Amount Amount
Revenue $263,939 $252,210 $218,856
Gross profit margin 50% 54% 52%
Operating income $42,460 $53,072 $28,230
Net income $48,817 $53,051 $30,309
Net income per share $0.98 $1.07 $0.61

Outlook

  • Revenue is expected to be in the range of $260 to $274 million.
  • GAAP diluted earnings per share is expected to be in the range of $1.14 to $1.28.
  • Non-GAAP diluted earnings per share is expected to be in the range of $1.40 to $1.54.

Webcast & Conference Call Details

Onto Innovation will host a conference call at 4:30 p.m. Eastern Time today, February 6, 2025, to discuss its fourth quarter 2024 and full year 2024 financial results and other matters in greater detail. To participate in the call, please dial (888) 394-8218 or International: +1 (646) 828-8193 and reference conference ID 1186967 at least five (5) minutes prior to the scheduled start time. A live webcast will also be available at www.ontoinnovation.com.

Contacts

For more information, please contact:

Sidney Ho
+1 408.376.9163
sidney.ho@ontoinnovation.com

Related News