ONTO · Onto Innovation Inc.

Onto Innovation's preliminary first quarter 2026 revenue of $292 million surpassed the prior outlook of $275 to $285 million, signaling robust demand in its process control solutions for semiconductor packaging. This beat reflects strong execution amid a favorable market for advanced packaging technologies. The company also raised its second quarter guidance to $320 to $330 million, indicating sustained momentum into the period ending June 30, 2026. A key driver is the successful qualification of the Dragonfly G5 system for 2.5D AI packaging applications, featuring proprietary optics, illumination, and AI-enhanced algorithms that enhance visibility, throughput, and cost of ownership. Initial shipments are slated for June, positioning the platform to capture growing AI device demand. Management highlighted the system's flexibility across fan-out packaging layers and its potential in new markets. CEO Mike Plisinski noted a meaningful increase in Dragonfly platform demand, projecting over 50% growth in 2026 compared to 2025, underscoring the technology's competitive edge in sensitivity and adaptability to evolving package architectures. EVP Ido Dolev emphasized its value delivery to customers facing process challenges. Full financial results are set for release after market close on May 5, 2026, with a conference call to follow, providing deeper insights into margins, profitability, and business segment performance.