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Dec 31, 2024
Onto Innovation Q4 2024 Earnings Report
Key Takeaways
Onto Innovation reported record Q4 revenue of $264 million, marking its sixth consecutive quarter of growth. The company achieved a GAAP gross margin of 50% and a non-GAAP gross margin of 55%. GAAP net income was $49 million, while non-GAAP net income reached $75 million. GAAP diluted EPS was $0.98, and non-GAAP diluted EPS was $1.51, exceeding guidance expectations.
Forward Guidance
For Q1 2025, Onto Innovation expects revenue between $260 million and $274 million, with GAAP EPS in the range of $1.14 to $1.28 and non-GAAP EPS between $1.40 and $1.54.
Positive Outlook
- Continued momentum in AI packaging and advanced nodes
- New products targeting 3D interconnect and wafer inspection
- Expanding demand for power semiconductors
- Operational efficiencies improving gross margins
- Strong backlog supporting Q1 2025 revenue growth
Challenges Ahead
- Uncertainty in semiconductor capital spending
- Potential supply chain disruptions
- Increasing competition in semiconductor inspection tools
- Macroeconomic risks impacting customer investments
- Ongoing restructuring costs affecting short-term profitability
Historical Earnings Impact
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Avg. Return Before/After Earnings
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