Filing Flows › Onto Innovation (ONTO) › Q1 2025
Onto Innovation (ONTO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Onto Innovation (ONTO) reported revenue of $267M for the first quarter 2025 (Q1 2025), +17% from a year earlier and +1% from the quarter before. Operating margin was 23.7%, net earnings $64.1M (24.0% of revenue).
Onto Innovation, Q1 2025: revenue $267M (+16% year over year), operating margin 23.7%, net earnings $64.1M, operating cash flow $92.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $267M | +1% | +17% |
| Gross profit | $143M | +8% | +21% |
| Operating profit | $63.1M | +49% | +48% |
| Net earnings | $64.1M | +31% | +37% |
| Operating cash flow | $92.0M | +64% | +61% |
| Free cash flow | $83.7M | +63% | +67% |
What changed
Revenue was $266.6M in Q1 2025, up 17% year over year and up 1% from the previous quarter. Systems and Software Revenue was the largest line at 87% of revenue. Systems and Software Revenue added $36.3M year over year (up 19%), 96% of the total change. Parts Revenue declined 10%.
Gross margin was 53.7%, up 2.0 points from a year earlier. Operating profit was $63.1M, a 23.7% margin (up 5.0 points year over year). Of the extra revenue versus a year earlier, 54% reached operating profit, above the 19% margin then. Operating expenses grew 6% against revenue growth of 17%. The fastest-growing cost line was General & admin (+30%). Net earnings were $64.1M, up 37% year over year. The effective tax rate was 10.6%.
Operating cash flow was $92.0M (up 61% year over year), 144% of net earnings. Non-cash charges added back $12.8M of depreciation and amortization and $6.8M of share-based compensation. Working capital and other items added $8.2M. Capital expenditures of $8.2M left free cash flow of $83.7M.
Questions
What was Onto Innovation's revenue in the first quarter 2025?
Onto Innovation (ONTO) reported revenue of $267M for the first quarter 2025 (Q1 2025), +17% from a year earlier and +1% from the quarter before.
Was Onto Innovation profitable in the first quarter 2025?
Operating profit was $63.1M (23.7% of revenue) and net earnings $64.1M.
Source: Onto Innovation 10-Q on SEC EDGAR.