Onto Innovation (ONTO) Q2 2026 Earnings
How Did ONTO Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: −1.40%.
Did ONTO Beat Earnings? Q2 2026 Results
Yes. Onto Innovation reported Q2 2026 earnings of $1.93 a share on Aug 6, 2026, beating the $1.69 consensus estimate by 14.1%. Revenue was $343.1M against a $325.3M estimate.
Onto Innovation delivered a standout second quarter for fiscal 2026, posting record revenue of $343.13 million, up 35.3% year-over-year and ahead of the $325.25 million consensus by 5.50%, while adjusted diluted EPS of $1.93 beat the $1.69 estimate by 14.15%. The primary engine behind the results was a surge in Advanced Nodes demand, with logic and memory customers deepening capital commitments tied to AI and high-performance compute infrastructure, alongside record performance in Specialty Devices and Advanced Packaging driven by 2.5D logic, high-bandwidth memory, and silicon photonics. Non-GAAP gross margin widened to 57.0% from 54.5% a year ago, and the company's backlog crossed $1 billion for the first time, signaling durable customer spending momentum well into future quarters. Goldman Sachs initiated coverage with a Buy rating and a $400 price target, citing AI demand as a structural tailwind. Looking ahead, management guided Q3 2026 revenue of $380 million to $400 million and adjusted diluted EPS of $2.18 to $2.38, with CEO Mike Plisinski expressing confidence that demand trends would extend into 2027.
- Advanced Nodes revenue grew 50% sequentially to a new quarterly record driven by broad-based strengthening demand across logic and memory customers
- Specialty Devices and Advanced Packaging revenue reached all-time high driven by 2.5D logic, high-bandwidth memory, and silicon photonics demand
- Revenue, gross margin, operating margin and EPS all exceeded the high end of non-GAAP guidance
- Non-GAAP gross margin expanded to 57.0% from 54.5% year-over-year
“Onto Innovation is positioned well across several key technology inflections driving next generation AI and high performance compute devices. High end-market demand, supported by our team's solid execution, resulted in record revenue in both advanced nodes and advanced packaging. Visibility continues to be strong with customers maintaining investments in their multi-year growth plans, resulting in a backlog exceeding $1 billion for the first time in company history. With this momentum, we expect a strong second half of 2026, reinforced by demand trends we believe will extend into 2027.”
Onto Innovation CEO, on the earnings call
What Is Onto Innovation's Outlook?
For Q3 2026, Onto Innovation expects revenue of $380 million to $400 million, GAAP gross margin of 57.3% to 57.8%, non-GAAP operating margin of 31.5% to 32.5%, GAAP diluted EPS of $1.54 to $1.70, and non-GAAP diluted EPS of $2.18 to $2.38. Management expects a strong second half of 2026 and believes demand trends will extend into 2027, supported by customers maintaining investments in multi-year growth plans and a backlog exceeding $1 billion.
ONTO YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $343.1M | $253.6M | +35.3% |
| Gross Profit | $183.3M | $122.1M | +50.1% |
| Operating Income | $63.6M | $32.2M | +97.1% |
| Net Income | $60.1M | $33.9M | +77.2% |
When Does Onto Innovation Report Next?
Figures from SEC filings and company reports. Not investment advice.