Onto Innovation ( (ONTO) ) has released its Q4 earnings. Here is a breakdown of the information Onto Innovation presented to its investors.
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Onto Innovation is a prominent player in the semiconductor industry, specializing in process control technologies across the semiconductor value chain, with a focus on wafer inspection, 3D metrology, and factory analytics.
In its latest earnings report, Onto Innovation announced record quarterly revenue of $264 million for the fourth quarter of 2024, marking the sixth consecutive quarter of growth. The company experienced a 21% increase in full-year revenue, totaling $987 million, driven by strong performance in advanced nodes and advanced packaging markets.
Key financial highlights include a GAAP gross margin of 50% and a non-GAAP gross margin of 55%, alongside GAAP operating income of $42 million and non-GAAP operating income of $75 million. Net income also saw significant growth, with GAAP net income reaching $49 million and non-GAAP net income at $75 million, resulting in a diluted earnings per share of $0.98 and $1.51 respectively. The company generated $246 million in cash from operations over the year, a 43% improvement from 2023.
Onto Innovation’s strategic advancements were evident with AI packaging revenue growing by 180% compared to 2023 and continued momentum in advanced nodes expected into 2025. The company also launched new products to support emerging 3D interconnect technology and inspection tools for various semiconductor applications.
Looking forward, Onto Innovation anticipates continued growth into the first quarter of 2025, with projected revenues between $260 million and $274 million and a focus on leveraging its investments in AI and semiconductor technologies to meet evolving market demands.
