ONTO INNOVATION INC.

Listed Company

ONTOCIK 0000704532NYSELarge AcceleratedMeasuring & Controlling Devices, NecDelawareFY ends Dec 26

Period

FY 2025

Revenue

$1.01B

Net Income

$136.76M

Total Assets

$2.37B

Equity

$2.10B

Shares Out

49.70M

Op. Cash Flow

$328.31M

Business

ONTO INNOVATION INC. is a global provider of metrology, inspection and process control systems for the semiconductor industry. It offers automated optical metrology, macro-defect inspection, materials characterization, advanced packaging lithography, opaque film metrology and process control and yield management software. The business is organized around product families and solutions including automated metrology (Atlas), integrated metrology (IMPULSE), macro-defect inspection (Firefly/Dragonfly), lithography (JetStep) and software suites for APC and yield management. Products are sold to semiconductor wafer manufacturers, IC fabricators and advanced packaging firms through direct sales, field service and selected channel partners worldwide.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	1,005	987	816	1,005	789
Cost of revenue	505	472	396	466	360
Gross profit	500	515	420	539	429
Research and development	132	114	104	112	96
Sales and marketing	70	76	62	66	57
General and administrative	107	80	80	70	68
Amortization	39	49	55	55	51
Restructuring cost in operating expenses	−18	−9	−4	—	—
Total operating expenses	367	328	304	303	273
Operating income (loss)	133	187	116	237	−156
Interest income, net	35	33	20	5	1
Other income (expense), net	−5	−145,000	−4	−141,000	−2
Income (loss) before provision (benefit) for income taxes	163	220	133	242	−156
Provision (benefit) for income taxes	26	19	11	18	13
Net income	137	202	121	223	142
Basic (per share)	2.78	4.09	2.47	4.52	2.89
Diluted (per share)	2.78	4.06	2.46	4.49	2.86
Basic (shares)	49	49	49	49	49
Diluted (shares)	49	50	49	50	50

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	346	213	234	176	170
Marketable securities	294	639	464	372	342
Accounts receivable, less allowance of $2,585 at December 28, 2024 and $2,659 at December 30, 2023	269	308	227	241	177
Inventories	298	287	328	324	243
Prepaid expenses and other current assets	61	30	31	21	16
Total current assets	1,268	1,478	1,283	1,135	948
Property, plant and equipment, net	127	124	104	92	82
Goodwill	644	330	316	316	316
Identifiable intangible assets, net	298	127	167	222	277
Deferred income taxes	4	43	19	5	5
Other assets	27	15	21	25	22
Total assets	2,368	2,117	1,910	1,795	1,650
Accounts payable	108	56	50	55	53
Accrued liabilities	49	50	42	49	43
Deferred revenue	32	34	25	30	30
Other current liabilities	31	30	31	27	28
Total current liabilities	219	170	148	161	155
Deferred and other tax liabilities	20	4,000	0	7	40
Other non-current liabilities	28	21	25	31	29
Total liabilities	267	191	173	198	224
Commitments and contingencies (Note 9)	—	—	—	—	—
Preferred stock, $0.001 par value, 3,000 shares authorized, no shares issued and outstanding	0	0	0	0	0
Common stock, $0.001 par value, 97,000 shares authorized, 49,238 and 49,086 issued and outstanding at December 28, 2024 and December 30, 2023, respectively.	50,000	49,000	49,000	49,000	49,000
Additional paid-in capital	1,367	1,275	1,262	1,244	1,256
Accumulated other comprehensive income	−10	−14	−8	−10	1
Accumulated earnings	744	665	482	363	169
Total stockholders equity	2,101	1,926	1,737	1,596	1,426
Total liabilities and stockholders equity	2,368	2,117	1,910	1,795	1,650

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	137	202	121	223	142
Depreciation	21	13	12	9	14
Accretion (Amortization) of Discounts and Premiums, Investments	5	7	5	—	—
Share-based compensation	28	29	26	24	20
Research and Development Asset Acquired in Transaction Other than Business Combination or Joint Venture Formation, Writeoff	0	4	0	6	0
Provision for inventory valuation	26	19	10	9	8
Deferred income taxes	13	−26	−22	−34	−13
Other, net	9	722,000	3	563,000	2
Accounts receivable	54	−84	12	−65	−28
Income taxes	−20	3	2	5	1
Inventories	−3	20	−16	−94	−57
Prepaid expenses and other assets	−2	9	−9	−5	−768,000
Accounts payable	51	6	−5	1	12
Accrued and other liabilities	−19	8	−11	11	22
Net cash and cash equivalents provided by operating activities	328	246	172	137	175
Purchases of marketable securities	−476	−709	−480	−371	−361
Proceeds from maturities and sales of marketable securities	827	541	397	339	255
Purchases of property, plant and equipment	−29	−32	−23	−18	−12
PaymentsToAquireNonMarketableSecurities	8	0	0	—	—
Proceeds from sale of property, plant and equipment	0	0	3	0	0
Purchase of business, net of cash acquired	−436	−27	0	−5	−24
Net cash and cash equivalents provided by (used in) investing activities	−122	−227	−103	−56	−142
Purchases of common stock	−75	−25	−3	−65	0
Tax payments related to shares withheld for share-based compensation plans	−14	−19	−11	−9	−7
Payment of contingent consideration for acquired business	0	−737,000	−801,000	−2	0
Issuance of shares through share-based compensation plans	13	9	5	8	10
Net cash and cash equivalents provided by (used in) financing activities	−75	−36	−9	−68	3
Effect of exchange rate changes on cash and cash equivalents	2	−4	−1	−6	−3
Net increase in cash and cash equivalents	133	−21	58	6	33
Income taxes paid (received), net	36	36	34	59	24

Filings

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