ONTO FY 2023 Earnings Report — Onto Innovation Inc. Revenue & Financial Results | Market Cap Arena

Onto Innovation Inc.ONTO

FY 2023 Earnings

Reported February 26, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$816M	—	$1.0B	—	-18.8%
Op. Income	$116M	—	$237M	—	-51.0%
Gross Margin	51.5%	—	53.6%	—	-2.1pp
Net Margin	14.9%	—	22.2%	—	-7.4pp
EPS (Diluted)	$2.46	—	$4.49	—	-45.2%
Free Cash Flow	$149M	—	$118M	—	26.3%

Revenue Flow

Item	Amount
REVENUE	$816M
Cost of Revenue	$396M
GROSS PROFIT	$420M
R&D Expenses	$104M
Selling & Marketing	$62M
General & Administrative	$83M
SG&A Expenses	$145M
Other Expenses	$55M
Operating Expenses	$304M
Cost & Expenses	$700M
OPERATING INCOME	$116M
Interest Income	$20M
Interest Expense	$0
Other Income/Expenses	$17M
INCOME BEFORE TAX	$133M
Income Tax Expense	$11M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$121M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$121M
D&A	$67M
EBIT	$116M
EBITDA	$183M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$816M
Cost of Revenue	$396M
GROSS PROFIT	$420M
R&D Expenses	$104M
Selling & Marketing	$62M
General & Administrative	$83M
SG&A Expenses	$145M
Other Expenses	$55M
Operating Expenses	$304M
Cost & Expenses	$700M
OPERATING INCOME	$116M
Interest Income	$20M
Interest Expense	$0
Other Income/Expenses	$17M
INCOME BEFORE TAX	$133M
Income Tax Expense	$11M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$121M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$121M
D&A	$67M
EBIT	$116M
EBITDA	$183M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$121M
Depreciation & Amortization	$67M
Stock-Based Compensation	$26M
Deferred Income Tax	-$22M
Other Non-Cash Items	$13M
Change in Working Capital	-$32M
OPERATING CASH FLOW	$172M
Capital Expenditure	-$23M
Acquisitions (Net)	$0
Purchases of Investments	-$480M
Sales/Maturities of Investments	$397M
Other Investing Activities	$3M
NET CASH FROM INVESTING	-$103M
Net Debt Issuance	$0
Common Stock Repurchased	-$3M
Common Dividends Paid	$0
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$9M
FREE CASH FLOW	$149M
Net Change in Cash	$58M

Balance Sheet

Item	Amount
Cash & Equivalents	$234M
Short-Term Investments	$464M
Net Receivables	$227M
Inventory	$328M
Other Current Assets	$31M
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$122M
Goodwill	$316M
Intangible Assets	$167M
Long-Term Investments	$0
Tax Assets	$19M
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$626M
TOTAL ASSETS	$1.9B
Account Payables	$50M
Short-Term Debt	$0
Deferred Revenue	$25M
Other Current Liabilities	$31M
TOTAL CURRENT LIABILITIES	$148M
Long-Term Debt	$0
Deferred Revenue NC	$2M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$9M
TOTAL NON-CURRENT LIABILITIES	$25M
TOTAL LIABILITIES	$173M
Common Stock	$49.0K
Additional Paid-In Capital	$1.3B
Retained Earnings	$482M
Treasury Stock	$0
Accum. Other Comp. Income	-$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$20M
Net Debt	-$214M