Onto Innovation reported record-breaking second quarter 2026 results, surpassing analyst estimates across all key financial metrics. The company benefited from a 50% sequential surge in advanced node revenue and record demand for advanced packaging tools used in 2.5D logic and high-bandwidth memory (HBM) production.
Key Highlights
- Record quarterly revenue of $343.1 million increased 35.3% year-over-year and 18% sequentially.
- Company backlog exceeded $1 billion for the first time in history, providing high visibility into 2027.
- Non-GAAP gross margin expanded to 57.0% from 54.5% in the prior year period, driven by a favorable mix of high-margin AI-related systems.