Onto Innovation Q4 2023 Earnings Report
Key Takeaways
Onto Innovation reported strong fourth-quarter results, with revenue exceeding the high end of guidance due to strong demand for Dragonfly systems and metrology systems for AI packaging. The company's revenue from power semiconductor solutions also increased by 40% year-over-year.
Quarterly revenue exceeded guidance at $219 million due to Dragonfly system demand.
GAAP operating income was $28 million, and GAAP net income was $30 million.
Non-GAAP operating income reached $56 million, with non-GAAP net income at $52 million.
Record quarterly cash from operations was $62 million, representing 28% of revenue.
Onto Innovation
Onto Innovation
Forward Guidance
For the first quarter ending March 30, 2024, Onto Innovation expects revenue in the range of $215 to $230 million and GAAP diluted earnings per share in the range of $0.74 to $0.94. Non-GAAP diluted earnings per share is expected to be in the range of $1.00 to $1.20.
Positive Outlook
- Revenue is expected to be in the range of $215 to $230 million.
- GAAP diluted earnings per share is expected to be in the range of $0.74 to $0.94.
- Non-GAAP diluted earnings per share is expected to be in the range of $1.00 to $1.20.