Onto Innovation posts record $409.7 million Q3 revenue, up 88% year over year

Onto Innovation just had the best quarter in its history. The semiconductor process control company reported record third-quarter 2026 revenue of $409.7 million, an 88% jump from the same period a year earlier.

Then it told investors the next quarter should be even bigger. Management guided fourth-quarter revenue to a range of $430 million to $450 million.

Onto trades on the NYSE under the ticker ONTO.

The numbers behind the record

In Q2 2026, Onto booked $343 million in revenue. That second-quarter figure represented 18% sequential growth and a 35% increase compared with the prior year.

Within that Q2 result, advanced nodes revenue rose 50% sequentially to approximately $120 million.

On profitability, Onto’s guidance for third-quarter non-GAAP operating margin was set at 31.5% to 32.5%.

Onto’s backlog now sits at a record of more than $1.1 billion, which gives the company revenue visibility into 2027.

What Onto actually sells

Onto specializes in two areas: advanced packaging and next-generation nodes. Both sit at the center of the current AI hardware buildout.

Advanced packaging is the process of combining multiple chips into a single, tightly integrated unit. High-bandwidth memory, or HBM, is one of the biggest drivers here. Onto has tied much of its momentum to heightened demand for AI-related semiconductor applications such as HBM.

That demand prompted a notable revision. Onto raised its full-year 2026 growth outlook for advanced packaging to approximately 80%.

Onto has secured more than $200 million in orders for its Dragonfly G5 inspection system, with most of those units slated for delivery in 2027.