Onto Innovation Delivers Record Q2 Revenue of $343M and Gross Margin of 53.4%
ONTO has more than doubled off its 52-week low of $89.4.
Summary
Onto Innovation posted record Q2 2026 revenue of $343.1 million and gross margin of 53.4%, both exceeding guidance, while ending the quarter with $1.88 billion in cash after a $1.5 billion convertible notes offering.
Key Events · Earnings and Guidance · ONTO
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Record Q2 Revenue
Revenue reached $343.1 million, up 35.3% year-over-year, fueled by strong demand for inspection and metrology systems in advanced packaging and leading-edge nodes.
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Gross Margin Expansion
Gross margin climbed to 53.4% from 48.2% a year ago, reflecting a favorable shift toward higher-margin product lines.
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Strong Liquidity Position
Cash, equivalents, and marketable securities totaled $1.88 billion at quarter-end, boosted by the $1.5 billion convertible notes offering completed in May 2026.
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Insider Trading Plans Activity
CEO Michael Plisinski terminated a prior 10b5-1 plan and adopted a new one for up to 50,000 shares; two directors adopted new plans for modest amounts.
Analysis · ONTO · Industrial Applications And Services
Driven by robust demand for inspection and metrology systems in advanced packaging and leading-edge nodes, Onto Innovation posted record quarterly revenue of $343.1 million, a 35% year-over-year increase. Gross margin expanded to 53.4% from 48.2% a year ago, reflecting a favorable product mix shift toward higher-margin tools. The quarter ended with $1.88 billion in cash and marketable securities after the company completed a $1.5 billion convertible notes offering in May, providing ample liquidity for the pending $710 million Rigaku minority investment. In insider activity, CEO Michael Plisinski terminated one 10b5-1 plan and adopted a new one for up to 50,000 shares, while two directors adopted new plans for modest amounts. The results confirm strong execution in a robust semiconductor capital equipment cycle, though the convertible notes add potential future dilution of up to 5.9 million shares.
At the time of this filing, ONTO was trading at $300.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $13.4B. The 52-week trading range was $89.40 to $386.46. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.