Onto Innovation Inc.

Onto Innovation Receives Best Partner Award from SK hynix for Hidden Defect Prevention in High Bandwidth Memory Production

Onto Innovation received the Best Partner Award for technology achievement from SK hynix at the memory maker's 25th Anniversary Partners Day on September 28, 2026, and was the only company recognized in that category. The award recognizes Onto's Dragonfly inspection technology for preventing hidden defects in high-bandwidth memory production, supporting SK hynix's HBM roadmap for the AI era. TrendForce expects AI-driven HBM demand to grow more than 50% by 2027, positioning Onto's process-control tools as increasingly critical as 12- and 16-high HBM stacks raise inspection intensity.

•13d ago

Onto Innovation Completes Strategic Investment in Rigaku Holdings Corporation

Onto Innovation closed a strategic investment to acquire a 27% minority equity stake in Rigaku Holdings Corporation for approximately $720 million. The deal, purchased from an affiliate of Carlyle, deepens a partnership focused on developing X-ray-based process control solutions for semiconductor manufacturing. Onto Innovation will account for the investment under the fair value method and will nominate a director to Rigaku's board.

•2mo ago

ONTO: 10-Q · periodic report

Onto Innovation reported Q2 2026 revenue of $343.1 million, up 35.3% year over year and 17.5% sequentially, with gross margin expanding to 53.4% and diluted EPS of $1.21 versus $0.69 a year ago. Net income jumped 77% to $60.1 million on strong demand for inspection and metrology systems serving advanced packaging and advanced node applications. The balance sheet was transformed by a May 21, 2026 issuance of $1.5 billion of 0.00% convertible senior notes due June 1, 2031 (net proceeds about $1.47 billion), lifting cash and marketable securities to roughly $1.9 billion. Onto concurrently repurchased 805 thousand shares at $254.53 and paid $88.9 million for capped calls with a $509.06 cap to mute dilution from the initial $381.80 conversion price, and terminated its $500 million Goldman Sachs bridge facility. On M&A, the Semilab USA acquisition (completed November 17, 2025 for $526.6 million total consideration) contributed $20.7 million of Q2 revenue while still posting a $4.5 million quarterly operating loss, and Onto agreed on April 20, 2026 to buy 27% of Rigaku Holdings from a Carlyle affiliate for approximately $710 million, expected to close in the second half of 2026. Six-month revenue reached $635.1 million, up 22.1%, though six-month net income of $93.9 million trails the prior year's $98.0 million as acquisition amortization, restructuring, and deal costs weigh; customer concentration remains elevated with the three largest customers at about 47% of first-half revenue.

SEC 10-Q•2mo ago

Onto Innovation Reports 2026 Second Quarter Results

Onto Innovation delivered a record Q2 with revenue of $343.1 million, up 35% year-over-year and 18% sequentially, surpassing the high end of guidance across revenue, margins, and EPS. Driven by strengthening demand for AI and high-performance compute, the company achieved record revenue in advanced nodes and advanced packaging, pushing backlog above $1 billion for the first time. Looking ahead, management expects Q3 revenue of $380 million to $400 million with non-GAAP EPS of $2.18 to $2.38, indicating sustained momentum into the second half of the year.

•2mo ago

ONTO: 8-K · debt financing

Onto Innovation Inc. issued $1.7 billion in aggregate principal amount of 0.00% Convertible Senior Notes due 2031, including $200 million from the full exercise of an over-allotment option. The notes bear no regular interest and have an initial conversion price of approximately $381.80 per share, significantly above the $254.53 stock price on the pricing date. Concurrently with the offering, Onto used $204.98 million of the net proceeds to repurchase 805,325 shares of its common stock in privately negotiated transactions at $254.53 per share. This simultaneous issuance and repurchase structure, often referred to as a 'synthetic tender' or 'equity-linked financing,' allows the company to raise capital at a low effective cost while immediately reducing share count and signaling management confidence. The company also entered into capped call transactions with a cap price of $509.06 per share to offset potential dilution from the notes. These calls cover the shares underlying the notes up to the cap price, protecting existing shareholders from dilution if the stock price rises between the conversion price and the cap.

SEC 8-K•5mo ago

Onto Innovation Reports 2026 First Quarter Results

Onto Innovation reported record first-quarter revenue of $292 million, representing 9.5% year-over-year growth and nearly 10% sequential growth. Non-GAAP diluted EPS was $1.42, with cash and short-term investments totaling $654 million at quarter end. The company announced a strategic move to acquire a 27% ownership stake in Rigaku for approximately $710 million, adding advanced X-ray technologies to its portfolio. Additionally, the Dragonfly G5 system qualified at a leading 2.5D logic customer and the Atlas G6 system was selected by a second logic customer. Looking ahead, Onto expects second-quarter revenue of $320 million to $330 million, implying continued strong demand for its process control solutions.

•5mo ago