#Israel #financial results #Rehovot #Semiconductor #Nova

Nova Reports Exceptional Financial Growth in 2024

Nova, a distinguished leader in metrology solutions for semiconductor manufacturing, has announced outstanding financial results for the fourth quarter and full year ended December 31, 2024, showcasing remarkable growth and achievements across its operations.

Fourth Quarter Highlights

In the fourth quarter, Nova achieved a groundbreaking revenue of $194.8 million, representing a staggering 9% increase from the third quarter and a jaw-dropping 45% year-over-year growth. This significant boost was made possible through record sales in critical segments, specifically materials metrology. The company's GAAP net income stood at $50.5 million, translating to $1.58 per diluted share, marking a 32% increase from the previous year. Furthermore, the non-GAAP net income was reported at $62.3 million (or $1.94 per diluted share), which also exceeded guidance and represented a 43% year-over-year increase.

Sustaining growth, the quarterly performance can be primarily attributed to robust sales within the Nova Metrion and Nova Veraflex platforms, which have seen increased market demand. This period also reflected record sales of dimensional metrology solutions due to heightened requirements in advanced packaging and GAA manufacturing sectors.

Full Year Performance

For the full year 2024, Nova’s revenue hit an astounding $672.4 million, a 30% increase from $517.9 million in 2023. This growth was buoyed by higher profit margins noted at 57.6%, compared to 56.6% in the previous year. The company's GAAP net income surged to $183.8 million or $5.75 per diluted share, which is a remarkable 34% year-over-year increase. Non-GAAP net income reached $214.9 million, equating to $6.69 per diluted share, reflecting a 38% rise from the prior year.

Management Overview

Gaby Waisman, President and CEO of Nova, expressed tremendous satisfaction with the company’s progress, stating, "Nova continues to outperform the market, achieving record quarterly and annual sales that exceeded the high end of our guidance in both revenue and profitability. We've made significant advancements across product lines and secured strategic partnerships with leading manufacturers, enhancing our market share and solidifying our long-term growth trajectory."

Looking Ahead

For the forthcoming first quarter of 2025, management provided a positive outlook, projecting revenues between $205 million and $215 million. They anticipate diluted GAAP EPS between $1.75 and $1.91, while non-GAAP EPS is expected to range from $2.00 to $2.16. These forecasts suggest sustained momentum as the company navigates its strategic growth initiatives.

Conclusion

Nova's financial results for Q4 and the entirety of 2024 highlight its resilient performance and innovative capabilities within the semiconductor industry. As it embraces upcoming challenges and opportunities, Nova remains committed to driving growth and innovation in metrology solutions. The company's impressive results not only reflect its current successes but also signify its potential for sustained advancement in the future. Investors and stakeholders alike can look forward to the upcoming conference call on February 13, 2025, where management will elaborate on these results and future plans.