ONTO · Onto Innovation Inc.
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AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. Onto Innovation reported record Q2 revenue of $343 million (+35% YoY, +18% sequentially), with revenue, gross margin, operating margin, and EPS all exceeding the high end of guidance, and raised its second-half 2026 revenue growth outlook to more than 25% (up from 15%) alongside a higher full-year advanced packaging growth outlook of approximately 80% (up from 50%).
- + Q2 revenue, gross margin, operating margin, and EPS all exceeded the high end of guidance, with record revenue of $343 million up 35% YoY
- + Backlog surpassed $1.1 billion for the first time, with multi-year visibility extending into 2027
- + Raised second-half 2026 revenue growth outlook to more than 25%, up from a prior 15% expectation
- + Advanced Nodes revenue grew 50% sequentially to a record ~$120 million, with strength in both memory (~60% sequential) and logic (>40% sequential)
- + Q2 non-GAAP gross margin reached 57% and operating margin reached 30%, already exceeding the company's initial 2026 gross margin expansion target
- + Won orders totaling over $200 million of Dragonfly technology from a single OSAT partner and over $50 million in silicon photonics orders, with majority slated for 2027 delivery
- − Other packaging and specialty device revenue declined sequentially in Q2 (though expected to rebound to Q1 levels in Q3)
- − H1 2026 GAAP net income of $93.9 million and GAAP diluted EPS of $1.88 were below H1 2025 levels despite higher revenue
- − Management flagged continued headwinds from material input costs, fuel surcharges, and freight expense in the second half
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
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Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Semiconductor Equipment & Materials — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
ONTO
this stock
Onto Innovation Inc.
|
$14.12B | +95.0% | +1.8% | 107.7 | 5.6% |
|
ASML
Asml Holding NV
|
$703.84B | +69.3% | — | — | 0.4% |
|
LRCX
Lam Research Corp
|
$394.43B | +91.9% | +51.7% | 54.7 | 2.1% |
|
AMAT
Applied Materials Inc /De
|
$386.29B | +99.0% | -12.6% | 42.0 | 1.8% |
|
KLAC
Kla Corp
|
$245.53B | — | +11.7% | 51.3 | 1.8% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| ONTO | +9.0% | +20.1% | +24.6% | +15.2% | +95.0% |
| SPY | -0.7% | +0.1% | +12.2% | -0.6% | +11.8% |
| vs SPY | +9.7% | +20.0% | +12.5% | +15.8% | +83.2% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.