Quarterly ResultMay 5, 2026, 05:07 PM
Onto Innovation Q1 Revenue $291.9M; Net Income Down 47.3%
AI Summary
Onto Innovation Inc. reported mixed financial results for the first quarter ended March 31, 2026, with revenue increasing by 9.5% to $291.95 million. However, net income significantly decreased by 47.3% to $33.75 million, and diluted earnings per share fell to $0.67, primarily due to a substantial rise in operating expenses, including amortization from the Semilab USA acquisition. The acquisition, completed in November 2025, contributed $27.1 million in revenue and $13.4 million in operating income for the quarter. The company also changed its fiscal year-end to December 31 and terminated its $100.0 million line of credit.
Key Highlights
- Net income decreased 47.3% to $33.75 million for the three months ended March 31, 2026.
- Diluted EPS fell 48.5% to $0.67 compared to $1.30 in the prior year period.
- Revenue increased 9.5% to $291.95 million for the quarter.
- Operating expenses rose 40.9% to $112.88 million, partly due to acquisition-related amortization.
- Semilab USA acquisition contributed $27.1 million in revenue and $13.4 million in operating income.
- Net cash provided by operating activities decreased to $26.32 million from $91.98 million.
- The company terminated its $100.0 million line of credit during the quarter.