NYSE$ONTO

Onto Innovation Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Reported financial results for the first period since the completion of the merger between Nanometrics Incorporated and Rudolph Technologies.

Onto Innovation reported fourth-quarter revenue of $120.6 million. GAAP net loss for the fourth quarter of 2019 was ($17.8) million, or ($0.41) per diluted share. Fourth quarter 2019 non-GAAP net income was $18.1 million, or $0.41 per diluted share.

  • Completed merger between Nanometrics and Rudolph Technologies on October 25, 2019.
  • Q4 revenue was $120.6 million, excluding approximately $10 million in shipments from Nanometrics prior to the merger and $1.7 million in deferred revenue eliminated in merger accounting.
  • Q4 GAAP diluted EPS was ($0.41); Non-GAAP diluted EPS was $0.41, at the high end of guidance including stock-based compensation expense.
  • Cash and marketable securities totaled $320 million, after the payment of $25 million in merger-related expenses.

Headline financials

Total Revenue

$121M

Previous: $77M+56.5%
EPS (adj)

$0.41

Previous: $0.49-16.3%
Gross Margin

33.0%

No prior period
Non-GAAP Gross Margin

51.0%

No prior period
Capital Expenditures

-$3.14M

Previous: $4.54M-169.1%
Free Cash Flow

$22.4M

Previous: $15.4M+45.7%
Net Income

-$17.8M

Previous: $8.08M-319.6%
Operating Income

-$23.4M

Previous: $9.32M-350.7%
Gross Profit

$39.6M

Previous: $32.7M+21.2%
Cash & Equivalents

$320M

Previous: $112M+184.9%
Total Assets

$1.45B

Previous: $418M+246.5%
Stock-Based Comp

$872K

Previous: $3.15M-72.3%

Revenue & EPS history

Onto Innovation · Revenue · Quarterly

$121M

Q4 2019+56.5%vs Q4 2018
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Forward guidance

The Company is currently anticipating revenue for the first quarter 2020 to be $136 million plus/minus 6%. Within this revenue range the Company is expecting a GAAP net loss per diluted share to be in the range of ($0.22) to ($0.04) and non-GAAP net income per diluted share to be in the range of $0.23 to $0.41.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+0.5%

Avg return

Earnings day

+0.4%

Avg return

5 days after

+0.8%

Avg return

30 days after

55%

35 / 64 earnings

Positive

+17.6%

Q2 2024

Best reaction

-30.2%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+4.0%-5.7%-17.0%
Q4 2025-4.1%-0.0%-11.2%
Q3 2025+5.8%+2.9%+19.5%
Q1 2025-30.2%-17.9%-24.2%
Q4 2024-11.2%-19.9%-36.9%
Q3 2024-15.1%-16.2%-20.8%
Q2 2024+17.6%+21.8%+8.1%
Q1 2024+8.8%+10.7%+5.4%
Q4 2023+13.6%+6.2%+16.8%
Q3 2023+9.6%+10.3%+12.5%
Q2 2023-7.2%-5.5%+8.5%
Q1 2023+3.8%+2.8%+29.0%
Q4 2022-1.7%-0.1%-2.0%
Q3 2022+0.3%+5.0%+19.9%
Q2 2022-7.0%-3.4%-17.8%
Q1 2022+7.0%-0.9%+14.8%
Q4 2021+2.9%-3.2%-11.6%
Q3 2021+10.1%+6.7%+10.2%
Q2 2021+8.8%+8.4%+9.6%
Q1 2021-0.3%-6.8%+4.4%
Q4 2020+2.5%+1.1%-4.2%
Q3 2020+8.6%+17.2%+38.9%
Q2 2020-1.7%-10.6%-18.1%
Q1 2020+0.9%+9.3%+13.0%
Q4 2019-6.4%-5.8%-23.2%
Q3 2019+3.3%+2.9%-2.0%
Q2 2019-13.7%
Q1 2019-1.3%
Q4 2018-0.9%
Q3 2018+3.9%
Q2 2018+5.9%
Q1 2018-3.8%
Q4 2017-0.5%
Q3 2017-0.9%
Q2 2017-0.4%
Q1 2017-2.2%
Q4 2016+3.5%
Q3 2016+1.1%
Q2 2016+0.6%
Q1 2016-2.2%
Q4 2015+2.0%
Q3 2015+13.3%
Q2 2015-13.0%
Q1 2015-0.6%
Q4 2014+1.4%
Q3 2014+4.1%
Q2 2014+3.9%
Q1 2014+0.3%
Q4 2013+0.8%
Q3 2013-1.2%
Q2 2013+3.0%
Q1 2013-2.0%
Q4 2012-1.7%
Q3 2012-3.7%
Q2 2012-0.4%
Q1 2012+2.1%
Q4 2011+1.8%
Q4 2010+1.8%
Q3 2011-3.6%
Q2 2011+7.7%
Q1 2011+7.7%
Q3 2010-3.7%
Q2 2010+1.8%
Q1 2010-1.2%

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