Onto Innovation (ONTO) Q3 FY2025 earnings: revenue $410 million, up 87.8% on the year

Onto Innovation Inc. (ONTO) reported revenue of $410 million for Q3 FY2025, the quarter ended 30 September 2026, up 87.8% on the same quarter a year earlier. Net income was $47 million, up 66.0% on the year, and diluted earnings per share $0.95. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2026.

Revenue

$410 million

+87.8% on the year · +19.4% on the quarter

Q4 FY2023Q3 FY2025

Operating margin

23.3%

10.9% a year earlier

Q4 FY2023Q3 FY2025

Net income

$47 million

+66.0% on the year · -22.1% on the quarter

Q4 FY2023Q3 FY2025

Diluted EPS

$0.95

+66.7% on the year · -21.5% on the quarter

Q4 FY2023Q3 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 13 new.

Record revenue, up 88% year over year: Revenue was $409.7 million, up 87.8% from $218.2 million a year earlier and up 19% sequentially from the second quarter.
Non-GAAP EPS rose to $2.44: Non-GAAP diluted EPS was $2.44 against $0.92 a year earlier. GAAP diluted EPS was $0.95 against $0.57. Non-GAAP net income was $120.3 million.
Advanced Nodes record on Atlas G6: Advanced Nodes set a quarterly revenue record, which management attributed to strong adoption of the Atlas G6 OCD system.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2025	Q2 FY2025	Q3 FY2024	On the quarter	On the year
Revenue	410	343	218	+19.4%	+87.8%
Cost of revenue	185	160	108	+15.9%	+72.2%
Gross profit	224	183	111	+22.5%	+102.9%
Gross margin	54.8%	53.4%	50.7%
Research and development	45.1	38.9	32.5	+15.9%	+38.7%
Operating income	95.4	63.5	23.7	+50.2%	+302.9%
Operating margin	23.3%	18.5%	10.9%
Pre-tax income	65.0	68.5	32.0	-5.1%	+103.2%
Income tax	18.1	8.4	3.8	+116.1%	+383.1%
Effective tax rate	27.9%	12.3%	11.7%
Net income	46.8	60.1	28.2	-22.1%	+66.0%
Net margin	11.4%	17.5%	12.9%
Diluted EPS	$0.95	$1.21	$0.57	-21.5%	+66.7%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2025	Q2 FY2025	Q3 FY2024	On the quarter	On the year
Operating cash flow	78.8	61.5	83.4	+28.0%	-5.6%
Capital expenditure	1.6	3.7	1.4	-57.3%	+13.2%
Free cash flow	77.2	57.9	82.0	+33.4%	-5.9%
Free cash flow margin	18.8%	16.9%	37.6%
Cash from investing	-932	-230	297
Cash from financing	-0.3	1,170	5.4
Depreciation and amortisation	25.5	24.9	13.4	+2.4%	+89.7%
Share-based compensation	8.8	10.0	6.9	-12.1%	+27.8%
Buybacks	0.0	205	0.0
Diluted shares, weighted	49m	50m	49m	-0.9%	+0.3%
Shares outstanding at period end	49m	49m	49m	+0.1%	+0.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2025	Q2 FY2025	Q3 FY2024	On the quarter	On the year
Shareholders' equity	1,979	1,923	2,002	+2.9%	-1.1%
Debt	1,500	n/a	0.0
Operating lease liabilities	n/a	n/a	8.4
Other liabilities	324	1,776	176	-81.8%	+83.8%
Total liabilities and equity	3,803	3,699	2,187	+2.8%	+73.9%
Fixed assets	121	124	129	-1.8%	-5.9%
Goodwill	626	643	330	-2.7%	+89.6%
Intangible assets	239	259	102	-7.6%	+134.0%
Investments	1,530	629	381	+143.2%	+301.6%
Cash and equivalents	401	1,253	603	-68.0%	-33.6%
Receivables	384	337	260	+14.0%	+47.8%
Inventory	424	379	259	+11.8%	+63.5%
Other assets	77.8	74.4	122	+4.6%	-36.2%
Total assets	3,803	3,699	2,187	+2.8%	+73.9%

Questions

What was Onto Innovation's revenue in Q3 FY2025?

Onto Innovation (ONTO) reported revenue of $410 million for Q3 FY2025, the quarter ended 30 September 2026, up 87.8% on the same quarter a year earlier.

How much did Onto Innovation earn in Q3 FY2025?

Net income for Q3 FY2025 was $47 million, up 66.0% on the year, and diluted earnings per share $0.95.

When did Onto Innovation report Q3 FY2025 results?

Onto Innovation filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 9 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2020 *	Q1 FY2021	Q2 FY2021	Q3 FY2021	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025
Revenue	226	241	256	254	253	199	191	207	219	229	242	252	264	267	254	218	267	292	343	410
Cost of revenue	102	110	124	115	116	94.2	90.2	100	111	111	114	116	132	123	131	108	143	146	160	185
Gross profit	124	131	132	139	137	105	100	107	108	118	128	136	132	143	122	111	124	146	183	224
Gross margin	55%	54%	52%	55%	54%	53%	53%	52%	49%	52%	53%	54%	50%	54%	48%	51%	46%	50%	53%	55%
R&D	24.8	26.3	25.6	32.1	27.8	27.2	27.0	26.1	24.0	26.6	27.0	28.3	34.9	28.0	35.3	32.5	36.2	35.1	38.9	45.1
Operating income	49.9	58.7	57.5	59.3	61.2	29.0	24.8	34.0	28.2	42.7	48.8	53.1	42.5	63.1	32.2	23.7	13.9	33.5	63.5	95.4
Operating margin	22%	24%	22%	23%	24%	15%	13%	16%	13%	19%	20%	21%	16%	24%	13%	11%	5%	11%	19%	23%
Pre-tax income	50.1	58.9	57.3	59.9	65.6	32.2	27.9	38.7	33.8	50.9	57.3	61.0	51.3	71.7	39.7	32.0	19.5	38.1	68.5	65.0
Tax rate	7%	9%	10%	13%	-1%	10%	7%	7%	10%	8%	8%	13%	5%	11%	15%	12%	46%	11%	12%	28%
Net income	46.7	53.3	51.6	52.2	66.2	29.1	25.9	35.9	30.3	46.9	52.9	53.1	48.8	64.1	33.9	28.2	10.5	33.8	60.1	46.8
Net margin	21%	22%	20%	21%	26%	15%	14%	17%	14%	20%	22%	21%	18%	24%	13%	13%	4%	12%	18%	11%
Diluted EPS	$0.93	$1.07	$1.03	$1.05	$1.34	$0.59	$0.53	$0.73	$0.61	$0.94	$1.07	$1.07	$0.98	$1.30	$0.69	$0.57	$0.21	$0.67	$1.21	$0.95
Operating cash flow	49.0	45.5	9.9	31.8	49.5	50.1	31.7	28.6	61.6	57.1	65.3	67.2	56.0	92.0	57.9	83.4	95.0	26.3	61.5	78.8
Capital expenditure	0.9	2.5	4.4	2.9	8.6	7.9	4.6	7.6	2.5	7.0	12.3	8.0	4.6	8.2	13.8	1.4	5.1	3.6	3.7	1.6
Free cash flow	48.1	43.0	5.5	28.9	40.9	42.2	27.1	21.0	59.1	50.2	53.0	59.2	51.4	83.7	44.2	82.0	89.9	22.7	57.9	77.2
Buybacks	n/a	0.0	0.0	11.5	53.7	3.2	0.0	0.0	0.0	0.0	0.0	0.0	25.1	75.0	0.0	0.0	0.0	0.0	205	0.0
Shares outstanding	49m	50m	50m	50m	49m	49m	49m	49m	49m	49m	49m	49m	49m	49m	49m	49m	50m	50m	49m	49m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 9 November 2026: the filing.