Filing Flows › Onto Innovation (ONTO) › Q2 2025
Onto Innovation (ONTO) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Onto Innovation (ONTO) reported revenue of $254M for the second quarter 2025 (Q2 2025), +5% from a year earlier and -5% from the quarter before. Operating margin was 12.7%, net earnings $33.9M (13.4% of revenue).
Onto Innovation, Q2 2025: revenue $254M (+5% year over year), operating margin 12.7%, net earnings $33.9M, operating cash flow $57.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $254M | -5% | +5% |
| Gross profit | $122M | -15% | -5% |
| Operating profit | $32.2M | -49% | -34% |
| Net earnings | $33.9M | -47% | -36% |
| Operating cash flow | $57.9M | -37% | -11% |
| Free cash flow | $44.2M | -47% | -17% |
What changed
Revenue was $253.6M in Q2 2025, up 5% year over year and down 5% from the previous quarter. Systems and Software Revenue was the largest line at 85% of revenue. Service Revenue added $4.1M year over year (up 27%), 37% of the total change.
Gross margin was 48.2%, down 4.8 points from a year earlier. Operating profit was $32.2M, a 12.7% margin (down 7.4 points year over year). Operating profit fell $16.6M even though revenue rose $11.3M versus a year earlier, so costs grew faster than sales. Operating expenses grew 13% against revenue growth of 5%. The fastest-growing cost line was Research & development (+30%). Net earnings were $33.9M, down 36% year over year. The effective tax rate was 14.7%.
Operating cash flow was $57.9M (down 11% year over year), 171% of net earnings. Non-cash charges added back $14.2M of depreciation and amortization and $6.7M of share-based compensation. Working capital and other items added $3.1M. Capital expenditures of $13.8M left free cash flow of $44.2M.
Questions
What was Onto Innovation's revenue in the second quarter 2025?
Onto Innovation (ONTO) reported revenue of $254M for the second quarter 2025 (Q2 2025), +5% from a year earlier and -5% from the quarter before.
Was Onto Innovation profitable in the second quarter 2025?
Operating profit was $32.2M (12.7% of revenue) and net earnings $33.9M.
Source: Onto Innovation 10-Q on SEC EDGAR.