Onto Innovation Files Q3 2024 10-Q

TL;DR

Onto Innovation's Q3 10-Q is in, check financials for latest performance.

AI Summary

Onto Innovation Inc. filed its 10-Q for the period ending September 28, 2024. The filing details financial performance and operational updates. Key financial figures and operational segments are presented, reflecting the company's activities in the measuring and controlling devices sector.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance of Onto Innovation Inc., crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures, but the nature of the technology sector and its market dynamics can introduce inherent risks.

Key Numbers

• 20240928 — Fiscal Period End (The report covers the financial performance up to this date.)
• 20241031 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2023-09-30 — Prior Year Period End (Used for comparative financial analysis.)

Key Players & Entities

• ONTO INNOVATION INC. (company) — Filer
• 0000704532 (company) — Central Index Key
• 3829 (company) — Standard Industrial Classification
• 16 JONSPIN ROAD (company) — Business Address
• WILMINGTON, MA (company) — Business Address
• NANOMETRICS INC (company) — Former Company Name

FAQ

Key Financial Figures

• $0.001 — nge on Which Registered Common Stock, $0.001 par value per share ONTO New York S

Filing Documents

• onto-20240928.htm (10-Q) — 2118KB
• onto-ex31_1.htm (EX-31.1) — 18KB
• onto-ex31_2.htm (EX-31.2) — 19KB
• onto-ex32_1.htm (EX-32.1) — 10KB
• onto-ex32_2.htm (EX-32.2) — 11KB
• 0000950170-24-119668.txt ( ) — 8756KB
• onto-20240928.xsd (EX-101.SCH) — 918KB
• onto-20240928_htm.xml (XML) — 1895KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Condensed Consolidated Statements of Operations for the three and nine months ended September 28, 2024 and September 30, 2023 1 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 28, 2024 and September 30, 2023 2 Condensed Consolidated Balance Sheets at September 28, 2024 and December 30, 2023 3 Condensed Consolidated Statements of Cash Flows for the nine months ended September 28, 2024 and September 30, 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 28, 2024 and September 30, 2023 5 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 24

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 25 Item 1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 42 Item 4. Mine Safety Disclosures 42 Item 5. Other Information 42 Item 6. Exhibits 43

Signatures

Signatures Table of Contents

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ONTO INNOVATION INC. CONDENSED CONSOLIDATED S TATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three Months Ended Nine Months Ended September 28, September 30, September 28, September 30, 2024 2023 2024 2023 Revenue $ 252,210 $ 207,185 $ 723,382 $ 597,012 Cost of revenue 115,831 100,333 340,482 284,724 Gross profit 136,379 106,852 382,900 312,288 Operating expenses: Research and development 28,277 26,136 81,876 80,421 Sales and marketing 19,451 14,755 56,746 46,416 General and administrative 22,465 18,131 60,298 56,130 Amortization 13,114 13,824 39,338 41,473 Total operating expenses 83,307 72,846 238,258 224,440 Operating income 53,072 34,006 144,642 87,848 Interest income, net 8,667 5,694 24,524 13,900 Other (expense) income, net ( 724 ) ( 1,001 ) 10 ( 2,992 ) Income before provision for income taxes 61,015 38,699 169,176 98,756 Provision for income taxes 7,964 2,813 16,323 7,906 Net income $ 53,051 $ 35,886 $ 152,853 $ 90,850 Earnings per share: Basic $ 1.07 $ 0.73 $ 3.10 $ 1.86 Diluted $ 1.07 $ 0.73 $ 3.08 $ 1.84 Weighted average number of shares outstanding: Basic 49,426 49,043 49,333 48,933 Diluted 49,694 49,401 49,669 49,259 The accompanying notes are an integral part of these financial statements. 1 Table of Contents ONTO INNOVATION INC. CONDENSED CONSOLIDATED STATEM ENTS OF COMPREHENSIVE INCOME (In thousands) (Unaudited) Three Months Ended Nine Months Ended September 28, September 30, September 28, September 30, 2024 2023 2024 2023 Net income $ 53,051 $ 35,886 $ 152,853 $ 90,850 Other comprehensive income (loss), net of tax: Change in net unrealized gains on available-for-sale marketable securities

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View this 10-Q filing on SEC EDGAR