Onto Innovation Reports 2024 Third Quarter Results
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) ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con un fatturato di 252 milioni di dollari, sostenuto dal recupero nei nodi avanzati e dalla forza nel packaging avanzato che supporta la domanda di intelligenza artificiale. L'azienda ha raggiunto un margine lordo GAAP del 54% e un margine lordo non GAAP del 55%. L'utile per azione diluito GAAP è stato di 1,07 dollari, mentre l'utile per azione diluito non GAAP ha raggiunto 1,34 dollari. Tra i risultati notevoli si registrano ricavi record nel settore delle ispezioni, ricavi record dai clienti di semiconduttori per energia e oltre il 30% di crescita sequenziale nel numero di clienti nei nodi avanzati. L'azienda prevede un fatturato per il quarto trimestre del 2024 tra 253-267 milioni di dollari, con un utile per azione diluito non GAAP di 1,33-1,48 dollari.
Onto Innovation (NYSE: ONTO) reportó resultados financieros sólidos para el tercer trimestre de 2024, con ingresos de 252 millones de dólares, impulsados por la recuperación en nodos avanzados y la fortaleza en el empaque avanzado que respalda la demanda de IA. La empresa logró un margen bruto GAAP del 54% y un margen bruto no GAAP del 55%. El EPS diluido GAAP alcanzó 1,07 dólares, mientras que el EPS diluido no GAAP fue de 1,34 dólares. Los logros notables incluyen ingresos récord en inspecciones trimestrales, ingresos récord de clientes de semiconductores de potencia, y un crecimiento secuencial de más del 30% en clientes de nodos avanzados. La empresa espera que los ingresos del cuarto trimestre de 2024 estén entre 253-267 millones de dólares, con un EPS diluido no GAAP de 1,33-1,48 dólares.
Onto Innovation (NYSE: ONTO)는 2024년 3분기 강력한 재무 결과를 보고했으며, 수익은 2억 5200만 달러에 달했습니다. 이는 고급 노드에서의 회복과 인공지능 수요를 지원하는 고급 패키징의 강세에 힘입은 것입니다. 회사는 GAAP 총 매출 이익률 54%와 비 GAAP 총 매출 이익률 55%를 달성했습니다. GAAP 희석 주당순이익(EPS)은 1.07달러, 비 GAAP 희석 EPS는 1.34달러에 이릅니다. 주목할 만한 성과로는 분기별 검사 수익의 기록적 증가, 전력 반도체 고객의 기록적 수익, 그리고 고급 노드 고객에서의 30% 이상의 순 성장률이 포함됩니다. 회사는 2024년 4분기 수익이 2억 5300-2억 6700만 달러에 이를 것으로 예상하며, 비 GAAP 희석 EPS는 1.33-1.48달러가 될 것으로 보입니다.
Onto Innovation (NYSE: ONTO) a annoncé de solides résultats financiers pour le troisième trimestre 2024, avec un chiffre d'affaires de 252 millions de dollars, soutenu par la reprise dans les nœuds avancés et la force dans l'emballage avancé qui soutient la demande en IA. L'entreprise a atteint un marge brute GAAP de 54% et un marge brute non-GAAP de 55%. Le BPA dilué GAAP a atteint 1,07 dollars, tandis que le BPA dilué non-GAAP était de 1,34 dollars. Parmi les réalisations notables, on trouve des revenus d'inspection trimestriels records, des revenus records de clients de semi-conducteurs de puissance et une croissance séquentielle de plus de 30% des clients dans les nœuds avancés. L'entreprise prévoit un chiffre d'affaires pour le quatrième trimestre 2024 compris entre 253-267 millions de dollars, avec un BPA dilué non-GAAP de 1,33-1,48 dollars.
Onto Innovation (NYSE: ONTO) hat für das dritte Quartal 2024 starke Finanzresultate gemeldet, mit Einnahmen von 252 Millionen US-Dollar, die durch die Erholung in fortschrittlichen Knoten und die Stärke in fortschrittlicher Verpackung, die die Nachfrage nach KI unterstützt, angetrieben wurden. Das Unternehmen erzielte eine GAAP-Bruttomarge von 54% und eine non-GAAP-Bruttomarge von 55%. Der verwässerte Gewinn pro Aktie (EPS) nach GAAP erreichte 1,07 US-Dollar, während der verwässerte EPS nach non-GAAP bei 1,34 US-Dollar lag. Zu den bemerkenswerten Erfolgen gehören Rekordumsätze aus der Inspektion, Rekordumsätze von Kunden von Leistungshalbleitern und ein sequenzielles Wachstum von über 30% bei Kunden in fortschrittlichen Knoten. Das Unternehmen erwartet für das vierte Quartal 2024 Einnahmen zwischen 253-267 Millionen US-Dollar mit einem non-GAAP verwässerten EPS von 1,33-1,48 US-Dollar.
- Revenue increased to $252M from $207M in Q3 2023, showing 21.7% YoY growth
- Record quarterly inspection revenue and power semiconductor customer revenue
- Advanced nodes revenue grew >30% sequentially
- Gross margin improved to 54% from 52% YoY
- Record cash from operations at $67M (27% of revenue)
- Strong Q4 guidance suggesting continued growth
- None.
Insights
Strong Q3 results showcase robust financial performance with
Q4 guidance of
The record-breaking performance in inspection revenue via the Dragonfly platform and power semiconductor segments demonstrates ONTO's strengthening market position. The strategic opening of the PACE lab for 2.5D and 3D packaging architectures is particularly significant given the increasing industry focus on advanced packaging for AI applications.
The
Solid execution drives revenue, gross margin and EPS in the upper half of guidance
Third Quarter Financial Highlights
-
Revenue of
$252 million -
GAAP gross margin
54% and non-GAAP gross margin of55% . -
GAAP operating income of
$53 million $70 million -
GAAP net income of
$53 million $66 million -
GAAP diluted earnings per share of
$1.07 $1.34 -
Record cash from operations of
$67 million 27% of revenue.
Third Quarter Business Highlights
- Record quarterly inspection revenue led by the Dragonfly® platform.
- Record quarterly revenue from power semiconductor customers.
-
Revenue from advanced nodes customers grew more than
30% sequentially. - Officially opened Packaging Applications Center of Excellence (PACE) to customers and collaborating partners for development of solutions to support 2.5D and 3D packaging architectures.
Michael Plisinski, chief executive officer of Onto Innovation, commented, “The Onto Innovation team executed well in the third quarter setting quarterly records for inspection revenue as well as revenue from power semiconductor customers. We see demand for innovative process control solutions increasing in several end markets to support required yield targets. We are working hard to meet these demands through close customer collaborations and by leveraging our broader set of technologies and industry partnerships. The opening of the PACE lab is a great example of creating an environment where customers and partners can come together to solve challenges to the benefit of the industry.”
Onto Innovation Inc. Key Quarterly Financial Data (In thousands, except per share amounts) |
||||||||||||
|
|
|||||||||||
|
|
September 28, 2024 |
|
|
June 29, 2024 |
|
|
September 30, 2023 |
|
|||
Revenue |
|
$ |
252,210 |
|
|
$ |
242,327 |
|
|
$ |
207,185 |
|
Gross profit margin |
|
|
54 |
% |
|
|
53 |
% |
|
|
52 |
% |
Operating income |
|
$ |
53,072 |
|
|
$ |
48,833 |
|
|
$ |
34,006 |
|
Net income |
|
$ |
53,051 |
|
|
$ |
52,949 |
|
|
$ |
35,886 |
|
Net income per diluted share |
|
$ |
1.07 |
|
|
$ |
1.07 |
|
|
$ |
0.73 |
|
NON-GAAP |
|
|||||||||||
|
|
September 28, 2024 |
|
|
June 29, 2024 |
|
|
September 30, 2023 |
|
|||
Revenue |
|
$ |
252,210 |
|
|
$ |
242,327 |
|
|
$ |
207,185 |
|
Gross profit margin |
|
|
55 |
% |
|
|
53 |
% |
|
|
52 |
% |
Operating income |
|
$ |
69,999 |
|
|
$ |
64,530 |
|
|
$ |
49,592 |
|
Net income |
|
$ |
66,386 |
|
|
$ |
65,354 |
|
|
$ |
47,613 |
|
Net income per diluted share |
|
$ |
1.34 |
|
|
$ |
1.32 |
|
|
$ |
0.96 |
|
Outlook
For the fourth fiscal quarter ending December 28, 2024, the Company is providing the following guidance:
-
Revenue is expected to be in the range of
$253 $267 million -
GAAP diluted earnings per share is expected to be in the range of
$1.04 $1.19 -
Non-GAAP diluted earnings per share is expected to be in the range of
$1.33 $1.48
Webcast & Conference Call Details
Onto Innovation will host a conference call at 4:30 p.m. Eastern Time today, October 31, 2024, to discuss its third quarter 2024 financial results and other matters in greater detail. To participate in the call, please dial (888) 204-4368 or International: +1 (646) 828-8193 and reference conference ID 9129765 at least five (5) minutes prior to the scheduled start time. A live webcast will also be available at www.ontoinnovation.com.
To listen to the live webcast, please go to the website at least fifteen (15) minutes early to register, download and install any necessary audio software. There will be a replay of the conference call available for one year on the Company’s website at www.ontoinnovation.com.
Discussion of Non-GAAP Financial Measures
The Company has provided in this release non-GAAP financial measures, including non-GAAP gross margin as a percentage of revenue, non-GAAP operating income, non-GAAP operating expenses, non-GAAP net income, non-GAAP diluted earnings per share and non-GAAP operating margin as a percentage of revenue, which exclude amortization of intangibles, merger and acquisition-related expenses and benefits, litigation expenses and benefits and restructuring costs. Non-GAAP gross margin as a percentage of revenue, non-GAAP operating income, non-GAAP operating expenses, non-GAAP net income, non-GAAP diluted earnings per share and non-GAAP operating margin as a percentage of revenue can also exclude certain other gains and losses that are either isolated or cannot be expected to occur again with any predictability or otherwise are not representative of our ongoing operations, tax provisions/benefits related to the previous items, and significant discrete tax events. We exclude the above items because they are outside of our normal operations and/or, in certain cases, are difficult to forecast accurately for future periods.
We utilize several different financial measures, both GAAP and non-GAAP, in analyzing and assessing the overall performance of our business, in making operating decisions, forecasting and planning for future periods, and determining payments under compensation programs. We consider the use of the non-GAAP measures to be helpful in assessing the performance of the ongoing operations of our business. We believe that disclosing non-GAAP financial measures provides useful supplemental data that, while not a substitute for financial measures prepared in accordance with GAAP, allows for greater transparency in the review of our financial and operational performance. We also believe that disclosing non-GAAP financial measures provides useful information to investors and others in understanding and evaluating our operating results and future prospects in the same manner as management and in comparing financial results across accounting periods and to those of peer companies. More specifically, management adjusts for the excluded items for the following reasons:
Amortization of intangibles: we do not acquire businesses and assets on a predictable cycle. The amount of purchase price allocated to the purchased intangible assets and the term of amortization can vary significantly and are unique to each acquisition or purchase. We believe that excluding amortization of purchased intangible assets allows the users of our financial statements to better review and understand the historic and current results of our operations, and also facilitates comparisons to peer companies.
Merger or acquisition related expenses and benefits: we incur expenses or benefits with respect to certain items associated with our mergers and acquisitions, such as transaction and integration costs, change in control payments, adjustments to the fair value of assets, etc. We exclude such expenses or benefits as they are related to acquisitions and have no direct correlation to the operation of our on-going business.
Restructuring expenses: we incur restructuring and impairment charges on individual or groups of employed assets, which arise from unforeseen circumstances and/or often occur outside of the ordinary course of our on-going business. Although these events are reflected in our GAAP financials, these transactions may limit the comparability of our on-going operations with prior and future periods.
Litigation expenses and benefits: we may incur charges or benefits as well as legal costs in connection with litigation and other contingencies unrelated to our core operations. We exclude these charges or benefits, when significant, as well as legal costs associated with significant legal matters, because we do not believe they are reflective of on-going business and operating results.
Income tax expense: we estimate the tax effect of the items identified to determine a non-GAAP annual effective tax rate applied to the pretax amount to calculate the non-GAAP provision for income taxes. We also adjust for items for which the nature and/or tax jurisdiction requires the application of a specific tax rate or treatment.
From time to time in the future, there may be other items excluded if we believe that doing so is consistent with the goal of providing useful information to investors and management.
There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact on our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP in
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”) which include, but are not limited to, statements regarding Onto Innovation’s business momentum and future growth; technology development, product introduction and acceptance of Onto Innovation’s products and services; Onto Innovation’s manufacturing practices and ability to deliver both products and services consistent with its customers’ demands and expectations and strengthen its market position; Onto Innovation’s expectations regarding the semiconductor market outlook; Onto Innovation’s future quarterly financial outlook; as well as other matters that are not purely historical data. Onto Innovation wishes to take advantage of the “safe harbor” provided for by the Act and cautions that actual results may differ materially from those projected as a result of various factors, including risks and uncertainties, many of which are beyond Onto Innovation’s control. Such factors include, but are not limited to, the Company’s ability to leverage its resources to improve its position in its core markets; its ability to weather difficult economic environments; its ability to open new market opportunities and target high-margin markets; the strength/weakness of the back-end and/or front-end semiconductor market segments; fluctuations in customer capital spending; the Company’s ability to effectively manage its supply chain and adequately source components from suppliers to meet customer demand; the effects of political, economic, legal, and regulatory changes or conflicts on the Company's global operations; its ability to adequately protect its intellectual property rights and maintain data security; the effects of natural disasters or public health emergencies on the global economy and on the Company’s customers, suppliers, employees, and business; its ability to effectively maneuver global trade issues and changes in trade and export regulations and license policies; the Company’s ability to maintain relationships with its customers and manage appropriate levels of inventory to meet customer demands; and the Company’s ability to successfully integrate acquired businesses and technologies. Additional information and considerations regarding the risks faced by Onto Innovation are available in Onto Innovation’s Form 10-K report for the year ended December 30, 2023, and other filings with the Securities and Exchange Commission. As the forward-looking statements are based on Onto Innovation’s current expectations, the Company cannot guarantee any related future results, levels of activity, performance, or achievements. Onto Innovation does not assume any obligation to update the forward-looking information contained in this press release, except as required by law.
About Onto Innovation
Onto Innovation is a leader in process control, combining global scale with an expanded portfolio of leading-edge technologies that include: Un-patterned wafer quality; 3D metrology spanning chip features from nanometer scale transistors to large die interconnects; macro defect inspection of wafers and packages; metal interconnect composition; factory analytics; and lithography for advanced semiconductor packaging. Our breadth of offerings across the entire semiconductor value chain combined with our connected thinking approach results in a unique perspective to help solve our customers’ most difficult yield, device performance, quality, and reliability issues. Onto Innovation strives to optimize customers’ critical path of progress by making them smarter, faster and more efficient. With headquarters and manufacturing in the
Source: Onto Innovation Inc.
ONTO-I
(Financial tables follow)
ONTO INNOVATION INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) - (Unaudited) |
||||||||
|
|
September 28, 2024 |
|
|
December 30, 2023 |
|
||
ASSETS |
|
|
|
|
|
|
||
Current assets |
|
|
|
|
|
|
||
Cash, cash equivalents and marketable securities |
|
$ |
855,404 |
|
|
$ |
697,811 |
|
Accounts receivable, net |
|
|
253,716 |
|
|
|
226,556 |
|
Inventories |
|
|
308,304 |
|
|
|
327,773 |
|
Prepaid expenses and other current assets |
|
|
40,524 |
|
|
|
31,127 |
|
Total current assets |
|
|
1,457,948 |
|
|
|
1,283,267 |
|
Net property, plant and equipment |
|
|
120,090 |
|
|
|
103,611 |
|
Goodwill and intangibles, net |
|
|
443,897 |
|
|
|
483,186 |
|
Other assets |
|
|
51,430 |
|
|
|
39,648 |
|
Total assets |
|
$ |
2,073,365 |
|
|
$ |
1,909,712 |
|
|
|
|
|
|
|
|
||
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
||
Current liabilities |
|
|
|
|
|
|
||
Accounts payable and accrued liabilities |
|
$ |
91,576 |
|
|
$ |
91,931 |
|
Other current liabilities |
|
|
53,160 |
|
|
|
55,795 |
|
Total current liabilities |
|
|
144,736 |
|
|
|
147,726 |
|
Other non-current liabilities |
|
|
25,104 |
|
|
|
25,451 |
|
Total liabilities |
|
|
169,840 |
|
|
|
173,177 |
|
Stockholders’ equity |
|
|
1,903,525 |
|
|
|
1,736,535 |
|
Total liabilities and stockholders’ equity |
|
$ |
2,073,365 |
|
|
$ |
1,909,712 |
|
ONTO INNOVATION INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) - (Unaudited) |
||||||||||||
|
Three Months Ended |
|
Nine Months Ended |
|
||||||||
|
September 28, 2024 |
|
September 30, 2023 |
|
September 28, 2024 |
September 30, 2023 |
|
|||||
Revenue |
$ |
252,210 |
|
$ |
207,185 |
|
$ |
723,382 |
$ |
597,012 |
|
|
Cost of revenue |
|
115,831 |
|
|
100,333 |
|
|
340,482 |
|
284,724 |
|
|
Gross profit |
|
136,379 |
|
|
106,852 |
|
|
382,900 |
|
312,288 |
|
|
Operating expenses: |
|
|
|
|
|
|
|
|||||
Research and development |
|
28,277 |
|
|
26,136 |
|
|
81,876 |
|
80,421 |
|
|
Sales and marketing |
|
19,451 |
|
|
14,755 |
|
|
56,746 |
|
46,416 |
|
|
General and administrative |
|
22,465 |
|
|
18,131 |
|
|
60,298 |
|
56,130 |
|
|
Amortization |
|
13,114 |
|
|
13,824 |
|
|
39,338 |
|
41,473 |
|
|
Total operating expenses |
|
83,307 |
|
|
72,846 |
|
|
238,258 |
|
224,440 |
|
|
Operating income |
|
53,072 |
|
|
34,006 |
|
|
144,642 |
|
87,848 |
|
|
Interest income, net |
|
8,667 |
|
|
5,694 |
|
|
24,524 |
|
13,900 |
|
|
Other (expense) income, net |
|
(724 |
) |
|
(1,001 |
) |
|
10 |
|
(2,992 |
) |
|
Income before provision for income taxes |
|
61,015 |
|
|
38,699 |
|
|
169,176 |
|
98,756 |
|
|
Provision for income taxes |
|
7,964 |
|
|
2,813 |
|
|
16,323 |
|
7,906 |
|
|
Net income |
$ |
53,051 |
|
$ |
35,886 |
|
$ |
152,853 |
$ |
90,850 |
|
|
Earnings per share: |
|
|
|
|
|
|
|
|||||
Basic |
$ |
1.07 |
|
$ |
0.73 |
|
$ |
3.10 |
$ |
1.86 |
|
|
Diluted |
$ |
1.07 |
|
$ |
0.73 |
|
$ |
3.08 |
$ |
1.84 |
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|||||
Basic |
|
49,426 |
|
|
49,043 |
|
|
49,333 |
|
48,933 |
|
|
Diluted |
|
49,694 |
|
|
49,401 |
|
|
49,669 |
|
49,259 |
|
|
ONTO INNOVATION INC. NON-GAAP FINANCIAL SUMMARY (In thousands, except percentage and per share amounts) - (Unaudited) |
||||||||||||
|
Three Months Ended |
|
Nine Months Ended |
|
||||||||
|
September 28, 2024 |
|
September 30, 2023 |
|
September 28, 2024 |
|
September 30, 2023 |
|
||||
Revenue |
$ |
252,210 |
|
$ |
207,185 |
|
$ |
723,382 |
|
$ |
597,012 |
|
Gross profit |
$ |
137,498 |
|
$ |
106,893 |
|
$ |
385,580 |
|
$ |
314,688 |
|
Gross margin as percentage of revenue |
|
55 |
% |
|
52 |
% |
|
53 |
% |
|
53 |
% |
Operating expenses |
$ |
67,499 |
|
$ |
57,301 |
|
$ |
193,752 |
|
$ |
175,636 |
|
Operating income |
$ |
69,999 |
|
$ |
49,592 |
|
$ |
191,828 |
|
$ |
139,052 |
|
Operating margin as a percentage of revenue |
|
28 |
% |
|
24 |
% |
|
27 |
% |
|
23 |
% |
Net income |
$ |
66,386 |
|
$ |
47,613 |
|
$ |
190,192 |
|
$ |
131,413 |
|
Net income per diluted share |
$ |
1.34 |
|
$ |
0.96 |
|
$ |
3.83 |
|
$ |
2.67 |
|
RECONCILIATION OF GAAP GROSS PROFIT, OPERATING EXPENSES AND OPERATING INCOME TO NON-GAAP GROSS PROFIT, OPERATING EXPENSES AND OPERATING INCOME (In thousands, except percentages) - (Unaudited) |
||||||||||||
|
Three Months Ended |
|
Nine Months Ended |
|
||||||||
|
September 28, 2024 |
|
September 30, 2023 |
|
September 28, 2024 |
|
September 30, 2023 |
|
||||
|
$ |
136,379 |
|
$ |
106,852 |
|
$ |
382,900 |
|
$ |
312,288 |
|
Pre-tax non-GAAP items: |
|
|
|
|
|
|
|
|
||||
Merger and acquisition related expenses |
|
35 |
|
|
41 |
|
|
105 |
|
|
121 |
|
Restructuring expenses |
|
1,084 |
|
|
— |
|
|
2,575 |
|
|
2,279 |
|
Non-GAAP gross profit |
$ |
137,498 |
|
$ |
106,893 |
|
$ |
385,580 |
|
$ |
314,688 |
|
|
|
54 |
% |
|
52 |
% |
|
53 |
% |
|
52 |
% |
Non-GAAP gross margin as a percentage of revenue |
|
55 |
% |
|
52 |
% |
|
53 |
% |
|
53 |
% |
|
$ |
83,307 |
|
$ |
72,846 |
|
$ |
238,258 |
|
$ |
224,440 |
|
Pre-tax non-GAAP items: |
|
|
|
|
|
|
|
|
||||
Merger and acquisition related expenses |
|
527 |
|
|
834 |
|
|
2,095 |
|
|
2,235 |
|
Restructuring expenses |
|
2,167 |
|
|
— |
|
|
3,046 |
|
|
3,226 |
|
Litigation expenses |
|
— |
|
|
887 |
|
|
27 |
|
|
1,870 |
|
Amortization of intangibles |
|
13,114 |
|
|
13,824 |
|
|
39,338 |
|
|
41,473 |
|
Non-GAAP operating expenses |
|
67,499 |
|
|
57,301 |
|
|
193,752 |
|
|
175,636 |
|
Non-GAAP operating income |
$ |
69,999 |
|
$ |
49,592 |
|
$ |
191,828 |
|
$ |
139,052 |
|
|
|
21 |
% |
|
16 |
% |
|
20 |
% |
|
15 |
% |
Non-GAAP operating margin
|
|
28 |
% |
|
24 |
% |
|
27 |
% |
|
23 |
% |
ONTO INNOVATION INC. RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME (In thousands, except share and per share data) - (Unaudited) |
||||||||||||
|
Three Months Ended |
|
Nine Months Ended |
|
||||||||
|
September 28, 2024 |
|
September 30, 2023 |
|
September 28, 2024 |
|
September 30, 2023 |
|
||||
|
$ |
53,051 |
|
$ |
35,886 |
|
$ |
152,853 |
|
$ |
90,850 |
|
Pre-tax non-GAAP items: |
|
|
|
|
|
|
|
|
||||
Merger and acquisition related expenses |
|
562 |
|
|
875 |
|
|
2,200 |
|
|
2,356 |
|
Restructuring expenses |
|
3,251 |
|
|
— |
|
|
5,621 |
|
|
5,505 |
|
Litigation expenses |
|
— |
|
|
887 |
|
|
27 |
|
|
1,870 |
|
Amortization of intangibles |
|
13,114 |
|
|
13,824 |
|
|
39,338 |
|
|
41,473 |
|
Net tax provision adjustments |
|
(3,592 |
) |
|
(3,859 |
) |
|
(9,847 |
) |
|
(10,641 |
) |
Non-GAAP net income |
$ |
66,386 |
|
$ |
47,613 |
|
$ |
190,192 |
|
$ |
131,413 |
|
Non-GAAP net income per diluted share |
$ |
1.34 |
|
$ |
0.96 |
|
$ |
3.83 |
|
$ |
2.67 |
|
| ONTO INNOVATION INC
SUPPLEMENTAL INFORMATION - RECONCILIATION OF FOURTH QUARTER 2024 GAAP TO NON-GAAP GUIDANCE |
|||||||
|
Low |
|
|
High |
|
||
Estimated GAAP net income per diluted share |
$ |
1.04 |
|
|
$ |
1.19 |
|
Estimated non-GAAP items: |
|
|
|
|
|
||
Amortization of intangibles |
|
0.27 |
|
|
|
0.27 |
|
Merger and acquisition related expenses |
|
0.01 |
|
|
|
0.01 |
|
Restructuring expenses |
|
0.07 |
|
|
|
0.07 |
|
Net tax provision adjustments |
|
(0.06 |
) |
|
|
(0.06 |
) |
Estimated non-GAAP net income per diluted share |
$ |
1.33 |
|
|
$ |
1.48 |
|
|
|
|
|
|
|
||
View source version on businesswire.com: https://www.businesswire.com/news/home/20241031757330/en/
Sidney Ho
+1 408.376.9163
sidney.ho@OntoInnovation.com
Source: Onto Innovation Inc.
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