0001193125-25-270040
SEC filingOnto Innovation holds $983.9M in cash and securities, $99.9M buyback remaining, and plans a $495M acquisition of Semilab USA.
As of September 27, 2025, Onto Innovation maintains a strong liquidity position with $603.1M in cash and cash equivalents and $380.8M in marketable securities, totaling $983.9M. The company has no debt, with stockholders' equity of $2.0B. Inventories stand at $259.4M, down from $287.0M at year-end 2024, driven by a reduction in work-in-process. Deferred revenue (current and non-current) is $36.6M, reflecting advance payments from customers.
No material purchase commitments are disclosed in the notes. The company has a $100.0M secured line of credit (unused as of filing). Warranty reserves total $11.2M (current and non-current). The proposed acquisition of Semilab USA for $432.3M cash plus 641,771 shares (total value ~$495M) is pending regulatory approval, with $4.6M in transaction costs incurred YTD. The company also invested $8.0M in a privately-held company.
Year-to-date, Onto Innovation repurchased 492,000 shares for $75.0M, leaving $99.9M under the $200M authorization approved in February 2024. No dividends are paid. Capital expenditures totaled $23.4M (3.2% of revenue). The company generated $233.3M in operating cash flow, funding investments and buybacks.
The company operates as a single segment: semiconductor equipment. Revenue for the nine months ended September 27, 2025 was $738.4M, up 2.1% YoY. Product mix: Systems 84%, Parts 8%, Services 8%. Geographically, Taiwan (31%) and South Korea (30%) are the largest markets, followed by the United States (12%). Three customers each exceeded 10% of revenue, aggregating 53% of total revenue.