NVMI 6-K

Nova Ltd. (NVMI)

6-K 2026-05-14 For: 2026-05-14

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Added on July 04, 2026

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	Q1 2026	Q4 2025	Q1 2025
Revenues	$235,308	$222,624	$213,356
Net Income	$69,259	$64,888	$64,823
Earnings per Diluted Share	$2.04	$1.94	$2.03

	Q1 2026	Q4 2025	Q1 2025
Net Income	$80,265	$72,239	$69,958
Earnings per Diluted Share	$2.33	$2.14	$2.18

	As of
	March 31,		December 31,
ASSETS	2026		2025
Current assets
Cash and cash equivalents		421,816		214,462
Short-term interest-bearing bank deposits		333,296		512,250
Marketable securities		343,432		321,798
Trade accounts receivable, net		176,917		151,929
Inventories		178,850		183,671
Other current assets		35,605		26,692
Total current assets		1,489,916		1,410,802
Non-current assets
Marketable securities		567,850		584,731
Interest-bearing bank deposits and restricted deposits		11,020		12,508
Deferred tax assets		38,887		38,819
Operating lease right-of-use assets		56,764		57,731
Property plant and equipment, net		101,788		102,625
Intangible assets, net		42,559		45,819
Goodwill		89,283		90,807
Other long-term assets		17,624		16,704
Total non-current assets		925,775		949,744
Total assets		2,415,691		2,360,546
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Convertible senior notes, net		732,630		-
Trade accounts payable		54,102		46,982
Deferred revenues		49,092		67,163
Operating lease current liabilities		9,508		8,204
Other current liabilities		98,529		102,186
Total current liabilities		943,861		224,535
Non-current liabilities
Convertible senior notes, net		-		731,680
Operating lease long-term liabilities		58,033		59,271
Long-term deferred tax liability		9,330		10,221
Other long-term liabilities		16,881		16,591
Total non-current liabilities		84,244		817,763
Shareholders' equity		1,387,586		1,318,248
Total liabilities and shareholders' equity		2,415,691		2,360,546

	Three months ended March 31,
	2026		2025
Revenues:
Products		186,263		173,942
Services		49,045		39,414
Total revenues		235,308		213,356
Total cost of revenues		99,620		91,053
Gross profit		135,688		122,303
Operating expenses:
Research and development, net		37,083		33,234
Sales and marketing		20,264		19,788
General and administrative		7,505		6,049
Total operating expenses		64,852		59,071
Operating income		70,836		63,232
Financing income, net		13,048		12,937
Income before taxes on income		83,884		76,169
Income tax expenses		14,625		11,346
Net income for the period		69,259		64,823

Earnings per share:
Basic		2.18		2.22
Diluted		2.04		2.03

Shares used in calculation of earnings per share (in thousands):
Basic		31,790		29,262
Diluted		34,439		32,062

	Three months ended December 31,
	2026			2025
Cash flows from operating activities:
Net income		69,259			64,823
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment		3,496			3,086
Amortization of intangible assets		2,315			1,816
Amortization of premium and accretion of discount on marketable securities, net		(1,257	)		(1,543	)
Amortization of debt issuance costs		950			290
Share-based compensation		7,305			6,376
Net effect of exchange rate fluctuation		55			(3,877	)
Changes in assets and liabilities:
Trade accounts receivable, net		(25,613	)		15,475
Inventories		4,086			(9,099	)
Other current and long-term assets		(9,493	)		(13,088	)
Deferred tax, net		(621	)		(2,636	)
Operating lease right-of-use assets		956			478
Trade accounts payable		7,308			(43	)
Deferred revenues		(19,673	)		(7,439	)
Operating lease liabilities		77			(862	)
Other current and long-term liabilities		918			14,815
Accrued severance pay, net		9			(23	)
Net cash provided by operating activities		40,077			68,549
Cash flows from investment activities:
Acquisition of subsidiary, net of acquired cash		-			(51,697	)
Change in short-term and long-term interest-bearing bank deposits		180,215			(2,286	)
Investment in marketable securities		(130,323	)		(82,270	)
Proceeds from maturity of marketable securities		121,881			79,068
Purchase of property and equipment		(4,049	)		(8,857	)
Net cash provided by (used in) investing activities		167,724			(66,042	)
Cash flows from financing activities:
Purchases of treasury shares		-			(20,002	)
Net cash used in financing activities		-			(20,002	)
Effect of exchange rate fluctuations on cash and cash equivalents		(765	)		771
Changes in cash and cash equivalents and restricted cash		207,036			(16,724	)
Cash and cash equivalents and restricted cash - beginning of period		214,780			157,779
Cash and cash equivalents - end of period		421,816			141,055

	Three months ended
	March 31, 2026			December 31, 2025			March 31, 2025
GAAP gross profit		135,688			128,233			122,303
Stock-based compensation*		2,072			1,990			1,847
Amortization of acquired intangible assets		2,119			2,342			1,670
Acquisition related inventory step-up		-			-			1,348
Non-GAAP gross profit		139,879			132,565			127,168
GAAP gross margin as a percentage of revenues		58	%		58	%		57	%
Non-GAAP gross margin as a percentage of revenues		59	%		60	%		60	%

GAAP operating income		70,836			60,733			63,232
Stock-based compensation*		7,305			6,977			6,376
Acquisition related inventory step-up		-			-			1,348
Acquisition related expenses		-			-			859
Amortization of acquired intangible assets		2,315			2,544			1,816
Discrete tax reserve release, net		-			203			-
Non-GAAP operating income		80,456			70,457			73,631
GAAP operating margin as a percentage of revenues		30	%		27	%		30	%
Non-GAAP operating margin as a percentage of revenues		34	%		32	%		35	%

GAAP net income		69,259			64,688			64,823
Stock-based compensation*		7,305			6,977			6,376
Acquisition related inventory step-up		-			-			1,348
Acquisition related expenses		-			-			859
Amortization of acquired intangible assets		2,315			2,544			1,816
Amortization of debt issuance costs		950			980			290
Revaluation of operating lease and intercompany loans		2,540			1,642			(4,796	)
Discrete tax reserve release, net		-			(4,229	)		-
Tax effect of non-GAAP adjustments		(2,104	)		(363	)		(758	)
Non-GAAP net income		80,265			72,239			69,958

GAAP basic earnings per share		2.18			2.09			2.22
Non-GAAP basic earnings per share		2.52			2.33			2.39

GAAP diluted earnings per share		2.04			1.94			2.03
Non-GAAP diluted earnings per share		2.33			2.14			2.18

Shares used for calculation of earnings per share (in thousands):
Basic		31,790			31,025			29,262
Diluted		34,439			33,830			32,062

	Low			High
Estimated GAAP net income per diluted share		2.10			2.24
Estimated non-GAAP items:
Stock-based compensation		0.20			0.20
Amortization of acquired intangible assets		0.06			0.06
Amortization of debt issuance costs		0.03			0.03
Tax effect of non-GAAP adjustments		(0.05	)		(0.05	)
Estimated non-GAAP net income per diluted share		2.34			2.48