Onto Innovation (NYSE: ONTO) tops Q1 view, boosts Q2 guidance

Rhea-AI Filing Summary

Onto Innovation Inc. reported a strong start to 2026, with a preliminary estimate of first quarter revenue of $292 million, above its previously communicated outlook of $275 to $285 million. The company also issued second quarter 2026 revenue guidance of $320 to $330 million, described as an 8% increase over its earlier outlook.

Onto highlighted the successful qualification of its new Dragonfly® G5 inspection platform for 2.5D advanced AI packaging, with initial shipments expected in June. Management noted a meaningful increase in demand for Dragonfly platforms, which are now expected to grow more than 50% in 2026 compared with 2025, reflecting strong interest in process control solutions for AI-related packaging.

Insights

Semiconductor capital equipment analyst

Onto beats Q1 revenue outlook and raises Q2 guidance while ramping a key AI-focused tool.

Onto Innovation is signaling healthy demand, with preliminary Q1 2026 revenue of $292 million, above its prior $275–$285 million outlook. It also set Q2 2026 guidance at $320–$330 million, an 8% increase versus its previously shared outlook.

The press release ties this momentum to advanced packaging and AI demand. The Dragonfly® G5 system is now qualified for 2.5D packaging applications, with first shipments expected in June 2026. Management expects Dragonfly platform demand to grow more than 50% in 2026 compared with 2025, suggesting this product line could be an important growth driver.

Future quarterly results and the scheduled full Q1 release on May 5, 2026 will show how much of the revenue strength and guidance uplift is tied to Dragonfly versus broader semiconductor spending trends, and how sustainably the >50% Dragonfly growth translates into overall company performance.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Preliminary Q1 2026 revenue: $292 million Prior Q1 2026 outlook range: $275–$285 million Q2 2026 revenue guidance: $320–$330 million +4 more

7 metrics

Preliminary Q1 2026 revenue $292 million Estimated revenue for first quarter 2026

Prior Q1 2026 outlook range $275–$285 million Previously communicated revenue outlook for Q1 2026

Q2 2026 revenue guidance $320–$330 million New revenue guidance range for second quarter 2026

Increase vs prior Q2 outlook 8% Stated increase over previously shared Q2 2026 outlook

Expected Dragonfly platform growth More than 50% Expected demand growth in 2026 compared with 2025

AI packaging demand growth Approximately 30% annually Industry analysts’ expectation over the next two years

Full Q1 results date May 5, 2026 Planned release of complete first quarter results

Key Terms

2.5D advanced packaging, fan-out packaging, process control, AI-enhanced software, +2 more

6 terms

2.5D advanced packaging technical

"qualified for new and existing applications in 2.5D advanced packaging"

A chip packaging method that places multiple separate processor or memory chips side-by-side on a thin shared connector layer rather than stacking them vertically, providing higher performance and better heat control than traditional circuit boards. Investors care because it lets manufacturers build faster, more power-efficient products with lower risk and development cost than full 3D stacking, affecting product competitiveness, production yield, and profit margins in semiconductor supply chains.

fan-out packaging technical

"performance across several process layers used for fan-out packaging"

Fan-out packaging is a way of enclosing a semiconductor chip that spreads its electrical connections outward across a larger area so more contacts can be placed without making the chip itself bigger. Think of it like moving wires from a dense plug to a broader socket to allow more connections, better heat flow and often lower cost. For investors, it matters because this packaging can enable smaller, faster, and cheaper electronic products, affecting manufacturers’ competitiveness and profit margins.

process control financial

"process control requires a far greater level of sensitivity than previous generations"

Process control is the set of methods and systems used to keep a production or laboratory operation running the same way every time so the output meets quality and safety standards. Think of it like a thermostat and checklist for a factory or drug-making line: sensors, rules and human checks that prevent mistakes, reduce waste and ensure regulators’ requirements are met. Investors watch process control because weak controls can cause production delays, costly recalls or fines, while strong controls support reliable revenue and lower regulatory risk.

AI-enhanced software technical

"system’s proprietary optics and AI-enhanced software allowed us to quickly adjust"

AI-enhanced software adds machine learning and other artificial intelligence techniques to ordinary programs so they can spot patterns, make predictions, automate routine tasks, or offer smarter recommendations — like giving a spreadsheet a trained assistant that finds trends and suggests next steps. Investors care because this can boost productivity, create new revenue streams, and lower costs, while also introducing risks such as model errors, higher development expense, and regulatory scrutiny.

advanced semiconductor packaging technical

"lithography for advanced semiconductor packaging"

Advanced semiconductor packaging is the set of modern techniques used to assemble individual silicon chips and supporting parts into compact, high-performance modules—often by stacking dies, using very small electrical links, and specialized carriers to boost speed, reduce power use and manage heat. It matters to investors because packaging shapes the finished product’s performance, manufacturing cost and supply-chain complexity—much like a car’s final assembly determines reliability, price and profit margins—which influences competitiveness, capital needs and margins.

forward-looking statements regulatory

"This press release contains forward-looking statements within the meaning of the"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Earnings Snapshot

Preliminary revenue: $292 million · Guidance included

Q1 2026

Preliminary revenue $292 million

Prior Q1 2026 outlook $275–$285 million

Q2 2026 guidance $320–$330 million +8% vs previously shared outlook

Guidance

Company guided Q2 2026 revenue to $320–$330 million, stating this represents an 8% increase over its previously shared outlook.

Understanding 8-K Material Events →

false000070453200007045322026-04-162026-04-16

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 16, 2026

Onto Innovation Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware			001-39110	94-2276314
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
16 Jonspin Road
Wilmington, Massachusetts				01887
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (978) 253-6200

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 par value per share		ONTO		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On April 16, 2026, Onto Innovation Inc. issued a news release announcing a preliminary estimate of its revenue for its fiscal first quarter ended March 31, 2026 and establishing guidance for the fiscal second quarter ending June 30, 2026 (the “Press Release”). A copy of the Press Release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

The information in this Current Report on Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description of Exhibit
99.1	Press Release, dated April 16, 2026
104	Cover Page Interaction Data File (embedded within the Inline XBRL document)

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 hereunto duly authorized.

			Onto Innovation Inc.
Date:	April 16, 2026	By:	/s/ Yoon Ah Oh
			Senior Vice President, General Counsel & Corporate Secretary

Exhibit 99.1

Onto Innovation’s Dragonfly® G5 System Qualified for Applications in 2.5D AI Packaging

Company exceeds guidance for first quarter and increases outlook for the second quarter

Wilmington, Mass., April 16, 2026 – Onto Innovation Inc. (NYSE: ONTO) today announced the successful qualification of the recently launched Dragonfly® G5 platform for new and existing applications in 2.5D advanced packaging, with initial shipments expected in June.

The qualification completes a process to accelerate the launch of the Dragonfly G5 system given its new proprietary optics, illumination, and advanced algorithms that improve visibility and throughput resulting in a significantly reduced overall cost of ownership. According to industry analysts, with demand for AI devices enabled through advances in packaging expected to grow approximately 30% annually over the next two years, process control requires a far greater level of sensitivity than previous generations. The new Dragonfly G5 system offers industry-leading capability for customers needing to adapt quickly to changes in package sizes, architectures, and evolving process flows.

“We were very pleased with our performance across several process layers used for fan-out packaging. The flexibility of the system’s proprietary optics and AI-enhanced software allowed us to quickly adjust to each of the many challenges and deliver compelling value to our customers,” said Ido Dolev, executive vice president of product solutions for Onto Innovation. “The new Dragonfly platform is designed to provide the flexibility required for future packaging transitions, and we look forward to its potential to deliver value in markets not currently served by Onto Innovation.”

“We are proud of what the team has been able to achieve in a relatively short time with the delivery of the Dragonfly G5. With this second successful qualification, the new Dragonfly platform is demonstrating that we have the capability to deliver significantly greater sensitivity at an improved cost of ownership,” said Mike Plisinski, chief executive officer of Onto Innovation. “We believe this value proposition is resonating with customers, as we have observed a meaningful increase in demand for our Dragonfly platforms, which are now expected to grow more than 50% in 2026 compared with 2025.”

The Company’s preliminary estimate of its first quarter 2026 revenue is $292 million, above the previously communicated outlook of $275 to $285 million. Further, the Company is establishing second quarter 2026 guidance of $320 to $330 million, representing an 8% increase over previously shared outlook. The Company expects to release its full first quarter financial results after market close on May 5, 2026, followed by a conference call.

About Onto Innovation Inc.

Onto Innovation is a leader in process control, combining global scale with an expanded portfolio of leading-edge technologies that includes un-patterned wafer quality, 3D metrology spanning chip features from nanometer scale transistors to large die interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.

Our breadth of offerings across the entire semiconductor value chain combined with our connected thinking approach results in a unique perspective to help solve our customers’ most difficult yield, device performance, quality, and reliability issues. Onto Innovation strives to optimize customers’ critical path of progress by making them smarter, faster and more efficient. Headquartered in Wilmington, Massachusetts, Onto Innovation supports customers with a worldwide sales and service organization.

Additional information can be found at www.ontoinnovation.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”) which include statements relating to Onto Innovation’s business momentum and future growth; technology development, product introduction and acceptance of Onto Innovation’s products and services; capabilities of Onto Innovation’s products and customer service and their benefits to customers; Onto Innovation’s manufacturing practices and ability to both deliver products and services consistent with our customers’ demands and expectations and strengthen its market position, Onto Innovation’s expectations regarding the semiconductor market outlook as well as other matters that are not purely historical data. Onto Innovation wishes to take advantage of the “safe harbor” provided for by the Act and cautions that actual results may differ materially from those projected as a result of various factors, including risks and uncertainties, many of which are beyond Onto Innovation’s control. Such factors include, but are not limited to, the Company’s ability to leverage its resources to improve its position in its core markets; its ability to weather difficult economic environments; its ability to open new market opportunities and target high-margin markets; the strength/weakness of the back-end and/or front-end semiconductor market segments; fluctuations in customer capital spending; the Company’s ability to effectively manage its supply chain and adequately source components from suppliers to meet customer demand; the effects of political, economic, legal, and regulatory changes, including tariffs and trade disputes, or conflicts on the Company's global operations; its ability to adequately protect its intellectual property rights and maintain data security; the effects of natural disasters or public health emergencies on the global economy and on the Company’s customers, suppliers, employees, and business; its ability to effectively maneuver global trade issues and changes in trade and export regulations, tariffs and license policies; the Company’s ability to maintain relationships with its customers and manage appropriate levels of inventory to meet customer demands; and the Company’s ability to successfully integrate acquired businesses and technologies. Additional information and considerations regarding the risks faced by Onto Innovation are available in Onto

Innovation’s Form 10-K report for the year ended January 3, 2026, and other filings with the Securities and Exchange Commission. As the forward-looking statements are based on Onto Innovation’s current expectations, the Company cannot guarantee any related future results, levels of activity, performance, or achievements. Onto Innovation does not assume any obligation to update the forward-looking information contained in this press release, except as required by law.

###

Source: Onto Innovation Inc.

ONTO-IP

Contacts:

Investor Relations:

Sidney Ho, +1 408.376.9163

sidney.ho@ontoinnovation.com

FAQ

What preliminary Q1 2026 revenue did Onto Innovation (ONTO) report?

Onto Innovation preliminarily reported Q1 2026 revenue of $292 million. This came in above its previously communicated outlook of $275 to $285 million, indicating stronger-than-expected demand for its process control and advanced packaging inspection solutions during the quarter.

What Q2 2026 revenue guidance did Onto Innovation (ONTO) provide?

Onto Innovation issued Q2 2026 revenue guidance of $320 to $330 million. The company stated this range represents an 8% increase over its previously shared outlook, reflecting improving visibility and demand across its markets, including advanced semiconductor packaging applications.

What is Onto Innovation’s Dragonfly G5 system and why is it important?

The Dragonfly G5 is Onto Innovation’s advanced inspection platform for 2.5D AI packaging. It uses proprietary optics, illumination, and AI-enhanced algorithms to improve sensitivity and throughput, lowering cost of ownership for customers managing complex fan-out and advanced packaging process flows.

When will Onto Innovation begin shipping the Dragonfly G5 system?

Onto Innovation expects initial shipments of the Dragonfly G5 system to begin in June 2026. This follows successful qualification of the platform for new and existing 2.5D advanced packaging applications, positioning the company to benefit from growing AI-related packaging demand.

How fast are Onto Innovation’s Dragonfly platforms expected to grow in 2026?

Onto Innovation expects demand for its Dragonfly platforms to grow by more than 50% in 2026 compared with 2025. Management attributes this to strong customer interest in higher sensitivity and lower cost of ownership for process control in advanced semiconductor packaging markets.

When will Onto Innovation release full Q1 2026 financial results?

Onto Innovation plans to release its full Q1 2026 financial results after market close on May 5, 2026. The company will follow the release with a conference call, providing additional details on quarterly performance and the outlook for subsequent periods.

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-99.1 EX-99.1 17.1 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 24.5 KB