Onto Innovation Inc - ONTO STOCK NEWS

Onto Innovation (NYSE: ONTO) reported strong financial results for Q4 and full year 2024, achieving record quarterly revenue of $264 million and full-year revenue of $987 million, representing 21% growth over 2023. The company demonstrated robust performance with a GAAP gross margin of 50% and non-GAAP gross margin of 55% in Q4.

Key highlights include AI packaging revenue growth of 180% compared to 2023, continuous improvement in advanced nodes revenue for four consecutive quarters, and strong cash generation from operations at $246 million, up 43% from 2023. The company's Q4 GAAP diluted EPS was $0.98, while non-GAAP diluted EPS reached $1.51, exceeding guidance.

Looking ahead to Q1 2025, Onto Innovation projects revenue between $260-274 million and non-GAAP diluted EPS of $1.40-1.54.

Onto Innovation (NYSE: ONTO) has announced it will release its fourth quarter and full year 2024 financial results after market close on February 6, 2025. The company will host a conference call and audio webcast following the release, led by CEO Michael P. Plisinski and CFO Mark Slicer.

The conference call is scheduled for 4:30 p.m. ET on February 6, 2025. Participants can join via phone at (888) 394-8218 (US) or +1 (646) 828-8193 (International) using conference ID 1186967. A live webcast will be available on the company's website, and a replay will be accessible for one year at www.ontoinnovation.com.

Onto Innovation (NYSE: ONTO) announced advances in its 3D interconnect process control suite, featuring two key developments: the new 3Di™ technology on the Dragonfly® G3 system for bump process control in high bandwidth memory and advanced logic applications, and the EchoScan™ system for detecting micro-voids in wafer bonding applications.

Initial orders for the 3Di technology include a top HBM manufacturer, a tier one OSAT, and a leading bump process equipment manufacturer. The first EchoScan system will ship in Q1, with additional deliveries planned throughout 2025. The solutions address the growing market for advanced packages with 2.5D and 3D integration, projected to grow at 19% from 2024-2028.

The technologies specifically target decreasing interconnect bump heights in high volume manufacturing (from 12µm to potentially 4µm) and enable void detection as small as 1µm in wafer bonding applications, significantly improving upon current technologies to ≥10µm sensitivity.

Onto Innovation (NYSE: ONTO) has secured a significant $69 million volume purchase agreement with a leading DRAM manufacturer for its optical metrology ecosystem. The agreement covers common films, optical critical dimension, and integrated metrology solutions, with deliveries starting in Q1 2025.

The company has also announced the launch of its new Iris G2 system, a single platform film metrology system designed for both common and critical films applications. The system features deep ultraviolet spectroscopic ellipsometry for common films and proprietary laser ellipsometry technologies for critical films. This innovation targets the critical films market, estimated to reach $400 million in 2025.

The company reports that demand for its films metrology has nearly doubled year over year. The Iris G2 system aims to provide improved stability and higher throughput for ultra-thin multilayer films measuring 10Å to 50Å, while offering customers flexibility in optimizing cost of ownership and performance.

Onto Innovation (NYSE: ONTO) has announced its participation in the 27th Annual Needham Growth Conference, scheduled at the Lotte New York Palace Hotel on January 15, 2025. Michael Plisinski, CEO, and Mark Slicer, CFO, will represent the company, with Plisinski delivering a presentation at 8:45 a.m. ET.

Investors can access the live webcast through the company's investor relations website. The company will be available for one-on-one meetings throughout January 15. All presentation materials and the archived webcast will remain accessible for one year on Onto's investor relations webpage at investors.ontoinnovation.com. Interested parties should contact their Needham salesperson to arrange meetings.

Onto Innovation (NYSE: ONTO) reported strong Q3 2024 financial results with revenue of $252 million, driven by recovery in advanced nodes and strength in advanced packaging supporting AI demand. The company achieved GAAP gross margin of 54% and non-GAAP gross margin of 55%. GAAP diluted EPS reached $1.07, while non-GAAP diluted EPS was $1.34. Notable achievements include record quarterly inspection revenue, record revenue from power semiconductor customers, and over 30% sequential growth in advanced nodes customers. The company expects Q4 2024 revenue between $253-267 million with non-GAAP diluted EPS of $1.33-1.48.

Onto Innovation (NYSE: ONTO) has announced two strategic acquisitions: Lumina Instruments and Kulicke and Soffa's lithography business. Lumina's laser scattering technology expands Onto's inspection portfolio, adding a $250 million addressable market in wafer and panel manufacturing. The Kulicke and Soffa acquisition includes 24 patents, 8 pending patents, and extensive lithography expertise. The combined acquisitions are projected to generate up to $100 million in annual revenue within three years and become earnings accretive within 12 months.

Onto Innovation Inc. (NYSE: ONTO) has announced it will release its 2024 third quarter financial results shortly after the market closes on October 31, 2024. The company will host a conference call and audio webcast to discuss these results on the same day at 4:30 p.m. (ET).

To participate in the call, investors can dial (888) 204-4368 (domestic) or +1 (646) 828-8193 (international) and reference conference ID 9129765. A live webcast will also be available on Onto Innovation's website. The call will be hosted by Michael P. Plisinski, CEO, and Mark Slicer, CFO. A replay of the conference call will be available on the company's website for one year.

Onto Innovation Inc. (NYSE: ONTO) has announced the opening of its Packaging Applications Center of Excellence (PACE) in Wilmington, Massachusetts. This first-of-its-kind facility in the U.S. is dedicated to panel-level packaging (PLP) innovations for 2.5D and 3D chiplet architectures and AI packages. PACE brings together industry leaders in substrate manufacturing, process equipment, and materials to accelerate technology roadmaps and shorten time to market.

Key features of PACE include:

• Collaboration with partners like ASMPT, Corning, and Lam Research
• Focus on sub-1.5µm line/space panel interconnects
• Access to Onto's JetStep® X500 glass panel handling lithography system
• Discover® Command Center for data analytics and process controls

The facility aims to address challenges in glass core substrates and support the evolving AI landscape. A grand opening event is scheduled for September 30, 2024.