Onto Innovation Inc. reported a modest increase in revenue for the fiscal year ending January 3, 2026, achieving $1.005 billion, a 2% rise from $987.3 million in the previous year. The company's net income, however, declined to $136.8 million from $201.7 million, resulting in diluted earnings per share of $2.78, down from $4.06. The decrease in profitability was attributed to higher operating expenses, which rose to $366.8 million from $328.2 million, driven by increased restructuring costs and expenses related to the acquisition of Semilab USA.
The acquisition of Semilab USA, completed in the fourth quarter of 2025 for approximately $526.6 million, added significant capabilities to Onto Innovation's portfolio, particularly in inline wafer contamination monitoring and materials characterization. This strategic move is expected to enhance the company's market position and product offerings. The integration of Semilab USA is ongoing, and the company anticipates realizing synergies and growth opportunities from this acquisition.
Operationally, Onto Innovation served over 190 customers across more than 25 countries, with significant revenue contributions from Taiwan (32%) and South Korea (28%). The company noted a shift in customer demand, with increased sales to NAND and OSAT customers, while sales to Foundry and DRAM customers decreased. The company’s inventory levels increased to $298.3 million, reflecting ongoing adjustments to meet market demands and manage supply chain challenges.
Looking ahead, Onto Innovation expressed optimism about future growth, driven by advancements in semiconductor technology and increased demand for its products in the AI and advanced packaging sectors. The company is focused on enhancing its research and development efforts to maintain its competitive edge and address evolving customer needs. However, it also acknowledged potential risks, including the impact of U.S. export regulations on sales in China, which have already affected revenue in the past fiscal year. The company plans to continue monitoring market conditions and adjusting its strategies accordingly.
About ONTO INNOVATION INC.
Onto Innovation designs and manufactures metrology, inspection, and process control tools for the semiconductor industry. Its products include optical metrology systems, defect inspection, lithography equipment, and software solutions used in wafer fabrication, advanced packaging, and specialty device manufacturing. Serving global semiconductor manufacturers, the company focuses on improving yield, performance, and cost-efficiency through innovative technology and comprehensive customer support.
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