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Sep 30, 2023
Onto Innovation Q3 2023 Earnings Report
Reported third quarter results, impacted by delayed lithography system shipments, but saw growth in specialty and advanced packaging.
Key Takeaways
Onto Innovation reported revenue of $207 million for Q3 2023, impacted by delayed shipments. However, specialty and advanced packaging experienced growth, and the company is optimistic about future AI-driven growth.
Revenue of $207 million was impacted by approximately $10 million due to delayed lithography system shipments.
Specialty and advanced packaging grew 19%, setting a new quarterly record of $135 million.
Dragonfly® G3 shipments to support AI packaging increased over 50% above the prior quarter.
A new customer placed an order for a JetStep® lithography system specially modified to support development of glass core substrate packaging solutions.
Forward Guidance
For the fourth fiscal quarter ending December 30, 2023, the Company expects revenue between $200 to $216 million and GAAP diluted earnings per share between $0.58 and $0.78. Non-GAAP diluted earnings per share is expected to be in the range of $0.90 to $1.10.
Positive Outlook
- Revenue is expected to be in the range of $200 to $216 million.
- GAAP diluted earnings per share is expected to be in the range of $0.58 to $0.78.
- Non-GAAP diluted earnings per share is expected to be in the range of $0.90 to $1.10.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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