Onto Innovation Q3 revenue beats estimates on broad-based growth
ONTO•Onto Innovation's third-quarter revenue rose 88% year over year to $409.75 million, above the $392.02 million analyst estimate, while adjusted EPS of $2.44 beat the $2.30 estimate. The company forecast fourth-quarter revenue of $430 million to $450 million and non-GAAP diluted EPS of $2.59 to $2.79.
1. Quarterly results
Onto Innovation reported third-quarter revenue of $409.75 million, up 88% year over year and above the $392.02 million analyst consensus. Adjusted EPS was $2.44, compared with the $2.30 estimate; net income was $46.85 million and gross margin was 54.8%.
2. Demand and outlook
The company cited strong demand for advanced inspection systems and AI-related markets. Revenue reached records in Advanced Nodes, Advanced Packaging and Specialty Devices, with demand for its Atlas G6 OCD, Dragonfly G5 and Firefly inspection systems. Onto Innovation expects fourth-quarter revenue of $430 million to $450 million and non-GAAP diluted EPS of $2.59 to $2.79, and said it has a strong backlog and visibility into customer plans.
