Nova (Nasdaq: NVMI) lifts Q2 revenue 16% with higher EPS
Rhea-AI Filing Summary
Nova Ltd. reported record results for the second quarter of 2026, with total revenues of $255.0 million, up 8% from the first quarter of 2026 and 16% from the second quarter of 2025. GAAP gross margin was 56.5%, slightly below 57.7% in the prior quarter and 57.8% a year earlier, while operating expenses rose to $68.0 million.
GAAP net income reached $75.0 million, or $2.20 per diluted share, compared with $69.3 million ($2.04 per share) in the prior quarter and $68.3 million ($2.14 per share) a year ago. On a non-GAAP basis, net income was $86.5 million, or $2.51 per diluted share, versus $80.3 million ($2.33) in the first quarter of 2026 and $70.4 million ($2.20) in the second quarter of 2025.
Management highlighted record sales across several product lines and strong demand across leading-edge device segments, supporting its expectation of another year of profitable growth. For the third quarter of 2026, Nova guides to GAAP diluted EPS of $2.46–$2.61 and non-GAAP diluted EPS of $2.70–$2.85.
Positive
- None.
Negative
- None.
Filing Explained
Nova’s August 6 Form 6-K furnishes interim information and incorporates its GAAP financial-statement tables into existing Form S-8 registration statements, making those tables part of the referenced registrations.
Key Figures
Q2 2026 Revenue: 254,958 thousand USD
Q2 2026 GAAP Net Income: 75,010 thousand USD
Q2 2026 Non-GAAP Net Income: 86,459 thousand USD
+5 more
8 metrics
Q2 2026 Revenue
254,958 thousand USD
Total revenues for the three months ended June 30, 2026
Q2 2026 GAAP Net Income
75,010 thousand USD
Net income for the three months ended June 30, 2026
Q2 2026 Non-GAAP Net Income
86,459 thousand USD
Non-GAAP net income for the three months ended June 30, 2026
Q2 2026 GAAP Diluted EPS
2.20 USD
GAAP diluted earnings per share for the quarter
Q2 2026 Non-GAAP Diluted EPS
2.51 USD
Non-GAAP diluted earnings per share for the quarter
Year-over-year Revenue Growth
16%
Increase in Q2 2026 revenues versus Q2 2025
Convertible Senior Notes (Current)
733,588 thousand USD
Current portion of convertible senior notes, net, as of June 30, 2026
Total Assets
2,489,379 thousand USD
Total assets as of June 30, 2026
Key Terms
non-GAAP financial measures, convertible senior notes, acquisition related inventory step-up, operating lease right-of-use assets, +1 more
5 terms
non-GAAP financial measures financial
"Use of Non-GAAP Adjusted Financial Measures"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
convertible senior notes financial
"Convertible senior notes, net"
Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.
operating lease right-of-use assets financial
"Operating lease right-of-use assets"
An operating lease right-of-use (ROU) asset is an accounting entry that shows the value of a leased item you have the legal right to use—like a building, vehicle, or equipment—recorded on a company’s balance sheet along with the corresponding lease obligation. Investors care because it adds to reported assets and liabilities, changing measures like leverage and return on assets much like bringing a long-term rental onto the company’s financial snapshot, which can affect credit terms and valuation.
capped call transactions financial
"risks related to our convertible senior notes and capped call transactions"
Capped call transactions are agreements where investors buy options that give them the chance to benefit if a stock's price goes up, but with a limit on how much they can gain. This helps protect them from paying too much if the stock's price rises a lot, similar to having a maximum limit on a reward. They matter because they help investors manage risk while still allowing some upside potential.
Earnings Snapshot
Revenue: 254,958 thousand USD · Guidance included
three months ended June 30, 2026
Revenue
254,958 thousand USD
up 8% from Q1 2026 and 16% from Q2 2025
GAAP net income
75,010 thousand USD
vs 69,259 thousand in Q1 2026 and 68,291 thousand in Q2 2025
GAAP diluted EPS
2.20 USD
vs 2.04 in Q1 2026 and 2.14 in Q2 2025
Non-GAAP diluted EPS
2.51 USD
vs 2.33 in Q1 2026 and 2.20 in Q2 2025
Q3 2026 GAAP EPS guidance
2.46–2.61 USD
company outlook range for next quarter GAAP diluted EPS
Q3 2026 non-GAAP EPS guidance
2.70–2.85 USD
company outlook range for next quarter non-GAAP diluted EPS
Guidance
For the third quarter of 2026, Nova expects GAAP diluted EPS of $2.46–$2.61 and non-GAAP diluted EPS of $2.70–$2.85, reflecting adjustments for stock-based compensation, amortization of acquired intangibles and debt issuance costs, and related tax effects.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were Nova (NVMI) revenues for the second quarter of 2026?
Nova reported $255.0 million in total revenues for Q2 2026, an 8% increase versus Q1 2026 and a 16% increase versus Q2 2025, reflecting record sales across several product lines.
How profitable was Nova (NVMI) in the second quarter of 2026?
Nova generated GAAP net income of $75.0 million and non-GAAP net income of $86.5 million in Q2 2026. GAAP operating margin was about 30%, while non-GAAP operating margin reached roughly 33% for the quarter.
What EPS guidance did Nova (NVMI) provide for the third quarter of 2026?
For Q3 2026, Nova expects GAAP net income per diluted share of $2.46–$2.61. On a non-GAAP basis, the company estimates diluted EPS of $2.70–$2.85, reflecting adjustments such as stock-based compensation and amortization.
How did Nova (NVMI) gross margin trend in Q2 2026 versus prior periods?
Nova’s Q2 2026 GAAP gross margin was 56.5%, compared with 57.7% in Q1 2026 and 57.8% in Q2 2025. On a non-GAAP basis, gross margin was 58%, versus 59% and 60% in those prior periods.
What were Nova (NVMI) operating expenses in Q2 2026 and how did they change?
Q2 2026 operating expenses totaled $68.0 million, up from $64.9 million in Q1 2026 and $61.6 million in Q2 2025. The increase reflects higher spending in research and development, sales and marketing, and general and administrative functions.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2026
Commission File No.: 000-30668
Commission File No.: 000-30668
NOVA LTD.
(Translation of registrant’s name into English)
5 David Fikes Street, Rehovot, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Attached hereto and incorporated by way of reference herein is a press release issued by the Registrant and entitled: “Nova Reports Record Second Quarter 2026
Financial Results”.
The GAAP financial statements tables included in the press release attached hereto are hereby incorporated by reference into the Registrant’s registration
statements on Form S-8, filed with the Securities and Exchange Commission on August 25, 2017 (File No. 333-220158).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: August 6, 2026
|
|
NOVA LTD.
(Registrant) By: /s/ Guy Kizner —————————————— Guy Kizner Chief Financial Officer
|
Company Contact:
Guy Kizner, Chief Financial Officer
Tel: +972-73-229-5760
E-mail - investors@novami.com
Nova website link - https://www.novami.com/
Investor Relations Contact:
Miri Segal MS-IR LLC
E-mail - msegal@ms-ir.com
Nova Reports Record Second Quarter 2026 Financial Results
REHOVOT, Israel - August 06, 2026 - Nova (Nasdaq: NVMI) today announced financial results for the second quarter, the three-month period ended June 30, 2026.
Second Quarter 2026 Highlights:
| • |
Record quarterly revenue of $255.0 million, 8% increase QoQ, and up 16% YoY.
|
| • |
Record GAAP net income of $75.0 million, or $2.20 per diluted share, 8% increase QoQ, and up 3% YoY.
|
| • |
Record non-GAAP net income of $86.5 million, or $2.51 per diluted share, 8% increase QoQ, and up 14% YoY.
|
| • |
Record revenue from Advanced logic devices, driven by transition to Gate-All-Around and demand for advanced nodes
|
| • |
Record revenue of Advanced Packaging solutions, driven by capacity increases across logic and memory manufacturing
|
GAAP Results (K)
|
Q2 2026
|
Q1 2026
|
Q2 2025
|
|
|
Revenues
|
$254,958
|
$235,308
|
$219,989
|
|
Net Income
|
$75,010
|
$69,259
|
$68,291
|
|
Earnings per Diluted Share
|
$2.20
|
$2.04
|
$2.14
|
Non-GAAP Results (K)
|
Q2 2026
|
Q1 2026
|
Q2 2025
|
|
|
Net Income
|
$86,459
|
$80,265
|
$70,400
|
|
Earnings per Diluted Share
|
$2.51
|
$2.33
|
$2.20
|
A reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements
included in this release. See also "Use of Non-GAAP Adjusted Financial Measures" section.
Management Comments
“This quarter marks a significant milestone for Nova, surpassing $250 million in quarterly revenue and $2.50 in quarterly non-GAAP EPS, reflecting the
run-rate envisioned in our long-term strategic plan,” said Gaby Waisman, President and CEO. “We delivered record sales across several of our product lines, including our front-end chemical metrology solution and our Sentronics dimensional metrology
solutions for advanced packaging. These results were supported by broad-based customer demand, continued market share gains, and deeper customer engagement across leading-edge device segments. As a result, we enter the coming quarters with
increased visibility, a robust opportunity pipeline, and confidence in our ability to deliver another year of profitable growth”.
2026 Third Quarter Financial Outlook
Management provided an outlook for the third quarter, the period ending September 30, 2026. Based on current estimates, management expects:
| • |
$277 million to $287 million in revenue
|
| • |
$2.46 to $2.61 in diluted GAAP EPS
|
| • |
$2.70 to $2.85 in diluted non-GAAP EPS
|
2026 Second Quarter Results
Total revenues for the second quarter of 2026 were $255.0 million, an increase of 8% compared with the first quarter of 2026 and an increase of 16%
compared with the second quarter of 2025.
Gross margin in the second quarter of 2026 was 56.5%, compared with 57.7%, in the first quarter of 2026 and 57.8% in the second quarter of 2025.
Operating expenses in the second quarter of 2026 were $68.0 million, compared with $64.9 million in the first quarter of 2026 and $61.6 million in the
second quarter of 2025.
On a GAAP basis, the Company reported net income of $75.0 million, or $2.20 per diluted share, in the second quarter of 2026. This is compared with net
income of $69.3 million, or $2.04 per diluted share, in the first quarter of 2026, and $68.3 million, or 2.14 per diluted share, in the second quarter of 2025.
On a non-GAAP basis, the Company reported net income of $86.5 million, or $2.51 per diluted share, in the second quarter of 2026. This is compared with
net income of $ 80.3 million, or $2.33 per diluted share, in the first quarter of 2026, and $70.4 million, or $2.20 per diluted share, in the second quarter of 2025.
Conference Call Information
Nova will host a conference call today, August 06, 2026, at 8:30 a.m. Eastern Time, to discuss the Company’s second quarter of 2026 financial results and
outlook. To attend the conference call, please dial one of the following teleconference numbers. Please begin by placing your calls five minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please
try the international dial-in number.
U.S. TOLL-FREE Dial-in Number: 1-833-816-1427
ISRAEL TOLL-FREE Dial-in Number: 1-809-213-284
INTERNATIONAL Dial-in Number: 1-412-317-0519
At:
8:30 a.m. Eastern Time
5:30 a.m. Pacific Time
The conference call will also be webcast live from a Link on Nova's website at https://www.novami.com/investors/events/.
A replay of the conference call will be available from August 6, 2026, at 11:30 a.m. Eastern Time until August 13, 2026. To access the replay, please
dial one of the following numbers:
Replay Dial-in U.S. TOLL-FREE: 1-855-669-9658
Replay Dial-in INTERNATIONAL: 1-412-317-0088
Replay Pin Number: 2662167
A replay will also be available for 90 days on Nova's website link at https://www.novami.com/investors/events/.
About Nova
Nova is a leading innovator and key provider of material, optical and chemical metrology solutions for advanced process control in semiconductor
manufacturing. Nova delivers continuous innovation by providing state-of-the-art, high-performance metrology solutions for effective process control throughout the semiconductor fabrication lifecycle. Nova’s product portfolio, which combines
high-precision hardware and cutting-edge software, provides its customers with deep insight into developing and producing the most advanced semiconductor devices. Nova’s unique capability to deliver innovative solutions enables its customers to
improve performance, enhance product yields and accelerate time to market. Nova acts as a partner to semiconductor manufacturers from its offices worldwide. Additional information may be found on Nova’s website link - https://www.novami.com/.
Nova is traded on the Nasdaq and TASE, Nasdaq ticker symbol NVMI.
Use of Non-GAAP Adjusted Financial Measures
This press release provides financial measures that exclude amortization of acquired intangible assets, inventory step-up, stock-based compensation
expenses, acquisition related expenses, revaluation of operating lease liabilities and remeasurement of intercompany loans, amortization of debt issuance costs, discrete tax reserve release, net and tax effect of non-GAAP adjustment, as applicable,
and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding Nova's performance because they
reflect our operational results and enhance management's and investors' ability to evaluate Nova's performance before charges or benefits considered by management to be outside Nova's ongoing operating results. The presentation of this non-GAAP
financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management believes that it is in the best interest of its investors to provide
financial information that will facilitate comparison of both historical and future results and allow greater transparency to supplemental information used by management in its financial and operational decision making. A reconciliation of each
GAAP to non-GAAP financial measure discussed in this press release is contained in the accompanying financial tables.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of
1995 relating to future events or our future performance, such as statements regarding, but not limited to, anticipated growth opportunities and projections about our business and its future revenues, expenses and profitability. Forward-looking
statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or
achievements expressed or implied in those forward-looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to, the following: risks related to information technology security
threats, sophisticated computer crime, and data privacy; foreign political and economic risks including supply-chain difficulties; regulations that could restrict our operations such as economic sanctions and export restrictions; changes in U.S.
trade policies and taxation; market instability including inflation and recessionary pressures; risks related to doing business with China; catastrophic events; inability to protect our intellectual property; open source technology exposure; risks
related to the use of artificial intelligence technologies; challenges related to implementing our new ERP system; failure to compete effectively or to respond to rapid technological changes; consolidation in our industry; difficulty in predicting
the length and strength of any downturn or expansion period of the market we target; factors that adversely affect the pricing and demand for our product lines; dependency on a small number of large customers; dependency on a single manufacturing
facility per product line; dependency on a limited number of suppliers; difficulty in integrating current or future acquisitions; lengthy sales cycle and customer delays in orders; risks related to conditions in Israel, including Israel’s conflicts
with certain parties in the region; risks related to our convertible senior notes and capped call transactions; currency fluctuations and quarterly fluctuations in our operating results; and risks related to additional costs and expenses if there
is a change in our status as a foreign private issuer. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the
heading “Risk Factors” in Nova’s Annual Report on Form 20-F for the year ended December 31, 2025, filed with the Securities and Exchange Commission on February 17, 2026. These factors are updated from time to time through the filing of reports and
registration statements with the Securities and Exchange Commission. Nova Ltd. does not assume any obligation to update the forward-looking information contained in this press release.
(Tables to Follow)
NOVA LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands) - (Unaudited)
|
As of
|
||||||||
|
June 30,
|
December 31,
|
|||||||
|
2026
|
2025
|
|||||||
|
ASSETS
|
||||||||
|
Current assets
|
||||||||
|
Cash and cash equivalents
|
124,846
|
214,462
|
||||||
|
Short-term interest-bearing bank deposits
|
397,082
|
512,250
|
||||||
|
Marketable securities
|
499,071
|
321,798
|
||||||
|
Trade accounts receivable, net
|
210,279
|
151,929
|
||||||
|
Inventories
|
185,273
|
183,671
|
||||||
|
Other current assets
|
36,309
|
26,692
|
||||||
|
Total current assets
|
1,452,860
|
1,410,802
|
||||||
|
Non-current assets
|
||||||||
|
Marketable securities
|
685,471
|
584,731
|
||||||
|
Interest-bearing bank deposits and restricted deposits
|
11,747
|
12,508
|
||||||
|
Deferred tax assets
|
36,775
|
38,819
|
||||||
|
Operating lease right-of-use assets
|
56,706
|
57,731
|
||||||
|
Property plant and equipment, net
|
98,753
|
102,625
|
||||||
|
Intangible assets, net
|
39,974
|
45,819
|
||||||
|
Goodwill
|
88,743
|
90,807
|
||||||
|
Other long-term assets
|
18,350
|
16,704
|
||||||
|
Total non-current assets
|
1,036,519
|
949,744
|
||||||
|
Total assets
|
2,489,379
|
2,360,546
|
||||||
|
LIABILITIES AND SHAREHOLDERS’ EQUITY
|
||||||||
|
Current liabilities
|
||||||||
|
Convertible senior notes, net
|
733,588
|
-
|
||||||
|
Trade accounts payable
|
66,782
|
46,982
|
||||||
|
Deferred revenues
|
45,945
|
67,163
|
||||||
|
Operating lease current liabilities
|
10,067
|
8,204
|
||||||
|
Other current liabilities
|
80,183
|
102,186
|
||||||
|
Total current liabilities
|
936,565
|
224,535
|
||||||
|
Non-current liabilities
|
||||||||
|
Convertible senior notes, net
|
-
|
731,680
|
||||||
|
Operating lease long-term liabilities
|
59,843
|
59,271
|
||||||
|
Long-term deferred tax liability
|
8,678
|
10,221
|
||||||
|
Other long-term liabilities
|
19,074
|
16,591
|
||||||
|
Total non-current liabilities
|
87,595
|
817,763
|
||||||
|
Shareholders' equity
|
1,465,219
|
1,318,248
|
||||||
|
Total liabilities and shareholders' equity
|
2,489,379
|
2,360,546
|
||||||
NOVA LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except per share data) - (Unaudited)
|
Three months ended
June 30,
|
Six months ended
June 30, |
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Revenues:
|
||||||||||||||||
|
Products
|
201,472
|
177,829
|
387,735
|
351,771
|
||||||||||||
|
Services
|
53,486
|
42,160
|
102,531
|
81,574
|
||||||||||||
|
Total revenues
|
254,958
|
219,989
|
490,266
|
433,345
|
||||||||||||
|
Total cost of revenues
|
110,797
|
92,743
|
210,417
|
183,796
|
||||||||||||
|
Gross profit
|
144,161
|
127,246
|
279,849
|
249,549
|
||||||||||||
|
Operating expenses:
|
||||||||||||||||
|
Research and development, net
|
39,257
|
35,446
|
76,340
|
68,680
|
||||||||||||
|
Sales and marketing
|
21,333
|
19,861
|
41,597
|
39,649
|
||||||||||||
|
General and administrative
|
7,386
|
6,296
|
14,891
|
12,345
|
||||||||||||
|
Total operating expenses
|
67,976
|
61,603
|
132,828
|
120,674
|
||||||||||||
|
Operating income
|
76,185
|
65,643
|
147,021
|
128,875
|
||||||||||||
|
Financing income, net
|
12,920
|
15,177
|
25,968
|
28,114
|
||||||||||||
|
Income before taxes on income
|
89,105
|
80,820
|
172,989
|
156,989
|
||||||||||||
|
Income tax expenses
|
14,095
|
12,529
|
28,720
|
23,875
|
||||||||||||
|
Net income for the period
|
75,010
|
68,291
|
144,269
|
133,114
|
||||||||||||
|
Earnings per share:
|
||||||||||||||||
|
Basic
|
2.36
|
2.32
|
4.54
|
4.54
|
||||||||||||
|
Diluted
|
2.20
|
2.14
|
4.24
|
4.17
|
||||||||||||
|
Shares used in calculation of earnings per share (in thousands):
|
||||||||||||||||
|
Basic
|
31,800
|
29,422
|
31,810
|
29,315
|
||||||||||||
|
Diluted
|
34,450
|
32,053
|
34,460
|
32,030
|
||||||||||||
NOVA LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(U.S. dollars in thousands) - (Unaudited)
|
Three months ended June 30,
|
Six months ended June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Cash flows from operating activities:
|
||||||||||||||||
|
Net income
|
75,010
|
68,291
|
144,269
|
133,114
|
||||||||||||
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||||||||||
|
Depreciation of property and equipment
|
3,688
|
3,242
|
7,184
|
6,328
|
||||||||||||
|
Amortization of intangible assets
|
2,299
|
2,228
|
4,614
|
4,044
|
||||||||||||
|
Amortization of premium and accretion of discount on marketable securities, net
|
(1,410
|
)
|
(1,345
|
)
|
(2,667
|
)
|
(2,888
|
)
|
||||||||
|
Amortization of debt issuance costs
|
958
|
278
|
1,908
|
568
|
||||||||||||
|
Share-based compensation
|
6,764
|
6,257
|
14,069
|
12,633
|
||||||||||||
|
Net effect of exchange rate fluctuation
|
(807
|
)
|
(11,179
|
)
|
(752
|
)
|
(15,056
|
)
|
||||||||
|
Changes in assets and liabilities:
|
||||||||||||||||
|
Trade accounts receivable, net
|
(33,760
|
)
|
(8,995
|
)
|
(59,373
|
)
|
6,480
|
|||||||||
|
Inventories
|
(7,159
|
)
|
(6,295
|
)
|
(3,073
|
)
|
(15,394
|
)
|
||||||||
|
Other current and long-term assets
|
(5,291
|
)
|
7,158
|
(14,784
|
)
|
(5,930
|
)
|
|||||||||
|
Deferred tax, net
|
1,575
|
(3,508
|
)
|
954
|
(6,144
|
)
|
||||||||||
|
Operating lease right-of-use assets
|
53
|
(2,359
|
)
|
1,009
|
(1,881
|
)
|
||||||||||
|
Trade accounts payable
|
12,048
|
(1,674
|
)
|
19,356
|
(1,717
|
)
|
||||||||||
|
Deferred revenues
|
(3,811
|
)
|
(4,992
|
)
|
(23,484
|
)
|
(12,431
|
)
|
||||||||
|
Operating lease liabilities
|
2,374
|
5,230
|
2,451
|
4,368
|
||||||||||||
|
Other current and long-term liabilities
|
(11,878
|
)
|
(7,054
|
)
|
(10,960
|
)
|
7,761
|
|||||||||
|
Accrued severance pay, net
|
265
|
378
|
274
|
355
|
||||||||||||
|
Net cash provided by operating activities
|
40,918
|
45,661
|
80,995
|
114,210
|
||||||||||||
|
Cash flows from investment activities:
|
||||||||||||||||
|
Acquisition of subsidiary, net of acquired cash
|
-
|
(4,658
|
)
|
-
|
(56,355
|
)
|
||||||||||
|
Change in short-term and long-term interest-bearing bank deposits
|
(63,987
|
)
|
2,157
|
116,228
|
(129
|
)
|
||||||||||
|
Investment in marketable securities
|
(364,260
|
)
|
(74,529
|
)
|
(494,583
|
)
|
(156,799
|
)
|
||||||||
|
Proceeds from maturity of marketable securities
|
92,735
|
51,092
|
214,616
|
130,160
|
||||||||||||
|
Purchase of property and equipment
|
(2,494
|
)
|
(2,738
|
)
|
(6,543
|
)
|
(11,595
|
)
|
||||||||
|
Net cash provided by (used in) investing activities
|
(338,006
|
)
|
(28,676
|
)
|
(170,282
|
)
|
(94,718
|
)
|
||||||||
|
Cash flows from financing activities:
|
||||||||||||||||
|
Purchases of treasury shares
|
-
|
-
|
-
|
(20,002
|
)
|
|||||||||||
|
Net cash used in financing activities
|
-
|
-
|
-
|
(20,002
|
)
|
|||||||||||
|
Effect of exchange rate fluctuations on cash and cash equivalents
|
118
|
2,841
|
(647
|
)
|
3,612
|
|||||||||||
|
Changes in cash and cash equivalents and restricted cash
|
(296,970
|
)
|
19,826
|
(89,934
|
)
|
3,102
|
||||||||||
|
Cash and cash equivalents and restricted cash -beginning of period
|
421,816
|
141,055
|
214,780
|
157,779
|
||||||||||||
|
Cash and cash equivalents and restricted cash - end of period
|
124,846
|
160,881
|
124,846
|
160,881
|
||||||||||||
NOVA LTD.
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
(U.S. dollars in thousands, except percentage and per share data) - (Unaudited)
|
Three months ended
|
||||||||||||
|
June 30,
2026 |
March 31,
2026 |
June 30,
2025 |
||||||||||
|
GAAP gross profit
|
144,161
|
135,688
|
127,246
|
|||||||||
|
Stock-based compensation*
|
1,923
|
2,072
|
1,769
|
|||||||||
|
Amortization of acquired intangible assets
|
2,105
|
2,119
|
2,039
|
|||||||||
|
Acquisition related inventory step-up
|
-
|
-
|
910
|
|||||||||
|
Non-GAAP gross profit
|
148,189
|
139,879
|
131,964
|
|||||||||
|
GAAP gross margin as a percentage of revenues
|
57
|
%
|
58
|
%
|
58
|
%
|
||||||
|
Non-GAAP gross margin as a percentage of revenues
|
58
|
%
|
59
|
%
|
60
|
%
|
||||||
|
GAAP operating income
|
76,185
|
70,836
|
65,643
|
|||||||||
|
Stock-based compensation*
|
6,764
|
7,305
|
6,257
|
|||||||||
|
Acquisition related inventory step-up
|
-
|
-
|
910
|
|||||||||
|
Amortization of acquired intangible assets
|
2,299
|
2,315
|
2,228
|
|||||||||
|
Non-GAAP operating income
|
85,248
|
80,456
|
75,038
|
|||||||||
|
GAAP operating margin as a percentage of revenues
|
30
|
%
|
30
|
%
|
30
|
%
|
||||||
|
Non-GAAP operating margin as a percentage of revenues
|
33
|
%
|
34
|
%
|
34
|
%
|
||||||
|
GAAP net income
|
75,010
|
69,259
|
68,291
|
|||||||||
|
Stock-based compensation*
|
6,764
|
7,305
|
6,257
|
|||||||||
|
Acquisition related inventory step-up
|
-
|
-
|
910
|
|||||||||
|
Amortization of acquired intangible assets
|
2,299
|
2,315
|
2,228
|
|||||||||
|
Amortization of debt issuance costs
|
958
|
950
|
278
|
|||||||||
|
Revaluation of operating lease and intercompany loans
|
3,398
|
2,540
|
(6,955
|
)
|
||||||||
|
Tax effect of non-GAAP adjustments
|
(1,970
|
)
|
(2,104
|
)
|
(609
|
)
|
||||||
|
Non-GAAP net income
|
86,459
|
80,265
|
70,400
|
|||||||||
|
GAAP basic earnings per share
|
2.36
|
2.18
|
2.32
|
|||||||||
|
Non-GAAP basic earnings per share
|
2.72
|
2.52
|
2.39
|
|||||||||
|
GAAP diluted earnings per share
|
2.20
|
2.04
|
2.14
|
|||||||||
|
Non-GAAP diluted earnings per share
|
2.51
|
2.33
|
2.20
|
|||||||||
|
Shares used for calculation of earnings per share (in thousands):
|
||||||||||||
|
Basic
|
31,800
|
31,790
|
29,422
|
|||||||||
|
Diluted
|
34,450
|
34,439
|
32,053
|
|||||||||
* Stock-based compensation for the three months ended June 30, 2026, included in - Cost of revenues – 1,923; Research and development, net – 2,770; Sales and marketing - 1,525; General and administrative - 546.
NOVA LTD.
SUPPLEMENTAL INFORMATION - RECONCILIATION OF THIRD QUARTER 2026
GAAP TO NON-GAAP GUIDANCE
SUPPLEMENTAL INFORMATION - RECONCILIATION OF THIRD QUARTER 2026
GAAP TO NON-GAAP GUIDANCE
(U.S. dollars) (Unaudited)
|
Low
|
High
|
|||||||
|
Estimated GAAP net income per diluted share
|
2.46
|
2.61
|
||||||
|
Estimated non-GAAP items:
|
||||||||
|
Stock-based compensation
|
0.19
|
0.19
|
||||||
|
Amortization of acquired intangible assets
|
0.07
|
0.07
|
||||||
|
Amortization of debt issuance costs
|
0.03
|
0.03
|
||||||
|
Tax effect of non-GAAP adjustments
|
(0.05
|
)
|
(0.05
|
)
|
||||
|
Estimated non-GAAP net income per diluted share
|
2.70
|
2.85
|
||||||