NVMI · Nova Ltd.

Nova Ltd. delivered record Q1 2026 results with revenue of $235.3 million, surpassing company guidance and reflecting 6% sequential growth from Q4 2025 and 10% year-over-year increase from Q1 2025. Key drivers included robust demand for advanced DRAM fueling record memory device revenues, strong sales of the Nova Metrion platform due to adoption in memory and logic advanced nodes, and record performance from the Nova AncoScene front-end chemical metrology solution via market share gains and new customer wins. Service revenues also hit all-time highs alongside optical, materials, and chemical metrology product lines. GAAP gross margin held steady at 57.7%, slightly up from 57.6% in Q4 2025, while operating expenses decreased to $64.9 million from $67.5 million sequentially, supporting operating income of $70.8 million. CEO Gaby Waisman highlighted the quarter's strength across every dimension, crediting portfolio execution and positioning for industry growth through technology and infrastructure investments. Balance sheet strengthened with cash and equivalents rising to $421.8 million from $214.5 million at year-end, partly from $167.7 million in investing inflows and $40.1 million operating cash flow, alongside new current convertible senior notes of $732.6 million. Q2 outlook signals continued momentum with revenue guided to $245-255 million and non-GAAP EPS to $2.34-2.48, underscoring confidence in customer engagement and market tailwinds.