Tue, Feb 25, 9:34 PM (61 days ago)
Onto Innovation Inc (NYSE: ONTO) is a global leader in semiconductor process control equipment. In fiscal 2024, revenue reached $987,321 (thousands) with a gross profit margin of 52.2% and net income of $201,670, driving diluted EPS to $4.06. Operating expenses increased, fueled by higher R&D, sales and marketing costs, while liquidity remained strong at $852,328 (thousands) with a robust share repurchase program ($174.9M available). Growth was driven by higher inspection system sales for advanced packaging in AI chip applications, though export controls in China moderated local revenue. Strategic investments include R&D, targeted acquisitions (e.g., Lumina Instruments), and improving supply chain efficiencies. Key risks involve supply disruptions, geopolitical tensions, regulatory changes, and competitive pressures from leading industry players. The report also highlights critical accounting estimates, lease arrangements, and share-based compensation metrics essential to sustaining the company’s competitive position in the dynamic semiconductor capital equipment market.