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Jun 29, 2024
Onto Innovation Q2 2024 Earnings Report
Exceeded revenue guidance driven by AI packaging and gate-all-around node orders.
Key Takeaways
Onto Innovation reported strong Q2 2024 results, with revenue exceeding the high end of guidance due to demand for AI packaging and orders for emerging gate-all-around nodes. The company achieved record cash from operations and saw revenue from specialty and advanced packaging customers reach a new quarterly high.
Revenue reached $242 million, surpassing the high end of guidance.
GAAP and non-GAAP gross margin were both 53%.
GAAP EPS was $1.07, and non-GAAP EPS was $1.32, both above guidance ranges.
Record cash from operations of $65 million, representing 27% of revenue.
Onto Innovation
Onto Innovation
Forward Guidance
For the third fiscal quarter ending September 28, 2024, the Company expects revenue to be in the range of $245 to $255 million and non-GAAP diluted earnings per share is expected to be in the range of $1.25 to $1.35.
Positive Outlook
- Revenue is expected to be in the range of $245 to $255 million.
- GAAP diluted earnings per share is expected to be in the range of $0.98 to $1.08.
- Non-GAAP diluted earnings per share is expected to be in the range of $1.25 to $1.35.