Nova Ltd. Reports Q2 2024 Financial Results

TL;DR

Nova Ltd. dropped Q2 2024 earnings, check the 6-K for details.

AI Summary

Nova Ltd. reported its second quarter 2024 financial results on August 8, 2024. The company is a foreign private issuer and is filing a Form 6-K to incorporate a press release detailing these results. The filing references their registration statements on Form S-8.

Why It Matters

This filing provides investors with the latest financial performance data for Nova Ltd., crucial for understanding the company's current operational health and future prospects.

Risk Assessment

Risk Level: low — This is a routine financial results filing (6-K) and does not contain new material events or significant changes.

Key Players & Entities

• Nova Ltd. (company) — Registrant
• August 8, 2024 (date) — Filing Date
• 5 David Fikes Street, Rehovot, Israel (location) — Principal Executive Offices
• Form 6-K (document) — Filing Type
• Form S-8 (document) — Incorporated by reference

FAQ

Key Financial Figures

• $156.9 m — ighlights: Record Quarterly revenue of $156.9 million, a 11% QoQ increase, exceeding th
• $45.1 m — nce and up 28% YoY. GAAP net income of $45.1 million, or $1.41 per diluted share, exce
• $1.41 — . GAAP net income of $45.1 million, or $1.41 per diluted share, exceeding the Compan
• $52.0 m — and up 48% YoY. Non-GAAP net income of $52.0 million, or $1.61 per diluted share, exce
• $1.61 — on-GAAP net income of $52.0 million, or $1.61 per diluted share, exceeding the Compan
• $156,858 — ) Q2 2024 Q1 2024 Q2 2023 Revenues $156,858 $141,798 $122,702 Net Income $45,14
• $141,798 — Q1 2024 Q2 2023 Revenues $156,858 $141,798 $122,702 Net Income $45,142 $36,860
• $122,702 — Q2 2023 Revenues $156,858 $141,798 $122,702 Net Income $45,142 $36,860 $29,926
• $45,142 — 56,858 $141,798 $122,702 Net Income $45,142 $36,860 $29,926 Earnings per Diluted
• $36,860 — 141,798 $122,702 Net Income $45,142 $36,860 $29,926 Earnings per Diluted Share $
• $29,926 — $122,702 Net Income $45,142 $36,860 $29,926 Earnings per Diluted Share $1.41 $1.
• $1.15 — 926 Earnings per Diluted Share $1.41 $1.15 $0.95 Non-GAAP Results (K) Q2 2024
• $0.95 — rnings per Diluted Share $1.41 $1.15 $0.95 Non-GAAP Results (K) Q2 2024 Q1 2024
• $51,956 — Q2 2024 Q1 2024 Q2 2023 Net Income $51,956 $44,612 $33,814 Earnings per Diluted
• $44,612 — Q1 2024 Q2 2023 Net Income $51,956 $44,612 $33,814 Earnings per Diluted Share $

Filing Documents

• zk2431799.htm (6-K) — 459KB
• image0.jpg (GRAPHIC) — 23KB
• 0001178913-24-002491.txt ( ) — 492KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: August 8, 2024 NOVA LTD. (Registrant) By: /s/ Guy Kizner Guy Kizner Chief Financial Officer Company Contact: Guy Kizner, Chief Financial Officer Tel: +972-73-229-5760 E-mail - investors@novami.com Nova website link - https://www.novami.com/ Investor Relations Contact: Miri Segal MS-IR LLC Tel: +917-607-8654 E-mail - msegal@ms-ir.com Nova Reports Record Second Quarter 2024 Financial Results REHOVOT, Israel - Aug 8, 2024 - Nova (Nasdaq: NVMI) today announced financial results for the second quarter, the three-month period ended June 30, 2024. Second Quarter 2024 Highlights: Record Quarterly revenue of $156.9 million, a 11% QoQ increase, exceeding the Company guidance and up 28% YoY. GAAP net income of $45.1 million, or $1.41 per diluted share, exceeding the Company guidance, a 23% QoQ increase and up 48% YoY. Non-GAAP net income of $52.0 million, or $1.61 per diluted share, exceeding the Company guidance, a 16% increase QoQ, and up 52% YoY. Record booking for advanced packaging processes and materials metrology solutions. Record revenue from chemical metrology, driven by demand in high-bandwidth-memory and front-end logic processes. GAAP Results (K) Q2 2024 Q1 2024 Q2 2023 Revenues $156,858 $141,798 $122,702 Net Income $45,142 $36,860 $29,926 Earnings per Diluted Share $1.41 $1.15 $0.95 Non-GAAP Results (K) Q2 2024 Q1 2024 Q2 2023 Net Income $51,956 $44,612 $33,814 Earnings per Diluted Share $1.61 $1.39 $1.06 A reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements included in this release. See also "Use of Non-GAAP Adjusted Financial Measures" section. Management Comments "Nova delivered an exceptionally strong quarter, exceeding the high end

Forward-Looking Statements

Forward-Looking Statements This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding, but not limited to, anticipated growth opportunities and projections about our business and its future revenues, expenses and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied in those forward-looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to, the following: increased information technology security threats and sophisticated computer crime; foreign political and economic risks including supply-chain difficulties; regulations that could restrict our operations such as economic sanctions and export restrictions; changes in U.S. trade policies; indirect effects of the Russia – Ukraine conflict; market instability including inflation and recessionary pressures; risks related to doing business with China; catastrophic events; inability to protect our intellectual property; open source technology exposure, including risks related to artificial intelligence; failure to compete effectively or to respond to rapid technological changes; consolidation in our industry; difficulty in predicting the length and strength of any downturn or expansion period of the market we target; factors that adversely affect the pricing and demand for our product lines; dependency on a small number of large customers; dependency on a single manufacturing facility per product line; dependency on a limited number of suppliers; difficulty in integrating current or future acquisitions; lengthy sales cycle an

View Full Filing

View this 6-K filing on SEC EDGAR