$ONTO

NANOMETRICS INC

CIK:0000704532|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 28, 2025	Jun. 30, 2026	Jun. 28, 2025
Income Statement [Abstract]
Revenue	$ 343,129	$ 253,597	$ 635,078	$ 520,204
Cost of revenue	159,875	131,475	305,435	254,849
Gross profit	183,254	122,122	329,643	265,355
Operating expenses:
Research and development	38,879	35,292	73,977	63,322
Sales and marketing	23,105	14,910	44,564	34,626
General and administrative	34,260	25,003	65,669	47,788
Amortization	19,699	8,446	39,399	16,891
Restructuring cost in operating expenses	(3,761)	(6,224)	(8,970)	(7,347)
Total operating expenses	119,704	89,875	232,579	169,974
Operating income	63,550	32,247	97,064	95,381
Interest income, net	5,245	8,631	10,347	17,897
Gain (Loss), Foreign Currency Transaction, before Tax	(139)	(1,149)	(600)	(1,911)
Other Expense Income	(160)	12	(263)	31
Total other expense, net	4,946	7,494	9,484	16,017
Income before provision for income taxes	68,496	39,741	106,548	111,398
Provision for income taxes	8,394	5,830	12,696	13,392
Net Income, Total	$ 60,102	$ 33,911	$ 93,852	$ 98,006
Earnings per share:
Basic	$ 1.22	$ 0.69	$ 1.89	$ 2
Diluted	$ 1.21	$ 0.69	$ 1.88	$ 1.99
Weighted average shares outstanding:
Basic	49,412	48,925	49,575	49,053
Diluted	49,682	49,016	49,841	49,213

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 28, 2025
Cash flows from operating activities:
Net income	$ 93,852	$ 98,006
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Amortization of intangibles	39,399	16,891
Accretion (Amortization) of Discounts and Premiums, Investments	(1,199)	(3,030)
Depreciation	11,611	10,237
Share-based compensation	17,026	13,492
Provision for inventory valuation	2,689	18,060
Deferred income taxes	1,257	(7,272)
Other, net	382	(4,733)
Changes in operating assets and liabilities, net of effects of business acquired	76,424	1,194
Net cash and cash equivalents provided by operating activities	87,829	149,923
Cash flows from investing activities:
Purchases of marketable securities	(652,144)	(419,312)
Proceeds from maturities and sales of marketable securities	316,622	384,554
Purchases of property, plant and equipment	(7,242)	(22,005)
PaymentsToAquireNonMarketableSecurities		(8,000)
Payments to Acquire Businesses, Net of Cash Acquired, Total		(57)
Net cash and cash equivalents used in investing activities	(342,764)	(64,820)
Cash flows from financing activities:
Purchases and retirement of common stock	(204,979)	(75,015)
Tax payments related to shares withheld for share-based compensation plans	(15,062)	(12,390)
Payment for Contingent Consideration Liability, Financing Activities	3,750
Proceeds from Convertible Debt	1,469,779
Payments for Derivative Instrument, Financing Activities	(88,950)
Issuance of shares through share-based compensation plans	5,927	4,179
Net cash and cash equivalents used in financing activities	1,162,965	(83,226)
Effect of exchange rate changes on cash and cash equivalents	(944)	2,648
Net increase (decrease) in cash and cash equivalents	907,086	4,525
Cash and cash equivalents at beginning of period		212,945
Cash and cash equivalents at end of period	1,253,205	217,470
Supplemental disclosure of cash flow information:
Income taxes paid (net of refunds)	5,117	32,641
Supplemental noncash disclosure of cash flow information
Unpaid excise tax on repurchases of common stock	$ 2,050
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Jan. 03, 2026
Current Assets:
Cash and cash equivalents	$ 1,253,205	$ 346,119
Marketable securities	628,945	293,503
Accounts receivable, less allowance of $2,613 and $2,659	337,384	268,932
Inventories, net	379,243	298,264
Prepaid expenses and other current assets	43,164	61,217
Total current assets	2,641,941	1,268,035
Property, plant and equipment, net	123,717	127,184
Goodwill	643,468	644,015
Identifiable intangible assets, net	258,699	298,098
Deferred income taxes	4,408	3,864
Other assets	26,809	26,545
Total assets	3,699,042	2,367,741
Current liabilities:
Accounts payable	139,430	107,685
Accrued liabilities	55,286	48,544
Deferred revenue	35,916	31,781
Other current liabilities	41,013	30,936
Total current liabilities	271,645	218,946
Convertible Notes Payable, Noncurrent	1,471,731
Deferred income taxes	2,102	20,401
Other non-current liabilities	30,906	27,747
Total liabilities	1,776,384	267,094
Commitments and contingencies
Stockholders’ equity:
Common stock	50	50
Additional paid-in capital	1,098,020	1,366,833
Accumulated other comprehensive loss	(13,049)	(10,021)
Retained earnings	837,637	743,785
Total stockholders’ equity	1,922,658	2,100,647
Total liabilities and stockholders’ equity	$ 3,699,042	$ 2,367,741