What were the key takeaways from Nova's earnings call?

What factors drove the changes in Nova's revenue and profit?

What is the market's earnings forecast for Nova next quarter?

Did Nova beat or miss consensus estimates last quarter?

What were the key takeaways from Nova’s earnings call?

What guidance did Nova's management provide for the next earnings period?

What is Nova's latest dividend and current dividend yield?

What is Nova's gross profit margin?

- **Revenue Record**: Q3 2025 revenue up 25% YoY to $224.6 million; 2025 full-year growth ~30% YoY.
- **AI-Driven Growth**: Advanced packaging revenue surging to 20% of total (vs. 15% in 2024), fueled by WMC platform adoption for HBM and AI chips.
- **GAA Leadership**: $500 million in 2024-2026 orders from all 4 GAA manufacturers, with tools in high-volume production.
- **China Normalization**: 2025 China revenue ~30% of total (down from 39% in 2024), with no material restrictions impacting margins.
- **Cash Position**: $1.6 billion in cash post-convertible notes issuance, enabling M&A and R&D investments.

**【CEO Summary Section】**
- **Record Revenue Growth**: Q3 2025 revenue reached $224.6 million, up 25% YoY, driven by advanced nodes and packaging. Full-year 2025 revenue expected to grow ~30% YoY.
- **Memory & Logic Strength**: Memory revenue grew 20% YoY, led by DRAM and HBM. Logic revenue hit record levels, with gate-all-around (GAA) customers accounting for $500 million in 2024-2026 orders.
- **New Product Wins**: 
  - WMC optical metrology platform adopted by 3 customers for HBM and power devices.
  - ELIPSON & METRION platforms selected by leading foundries for GAA production.
  - Veraflex sales to memory fabs and PRISM orders for HBM manufacturing.
- **Operational Expansion**: New 7,000m² production facility in Germany triples capacity for advanced packaging tools.

**【CFO Financial Commentary】**
- **Q3 Financials**: 
  - GAAP EPS: $1.90; Non-GAAP EPS: $2.16 (vs. $1.08 in the example).
  - Gross margin: 57% GAAP, 59% Non-GAAP.
  - Free cash flow: $67 million; total 2025 FCF: ~$170 million.
- **Q4 Guidance**: 
  - Revenue: $215-225 million (midpoint +1% YoY).
  - Non-GAAP EPS: $2.02-2.20.
  - Gross margin: ~58%.
- **Balance Sheet**: $1.6 billion in cash post-$750 million convertible notes issuance.

**【Q&A Highlights】**
- **WFE Outlook**: 2026 WFE growth ~mid-single digits, with Nova outperforming due to AI-driven demand for advanced packaging and GAA.
- **China Impact**: 2025 China revenue ~30% of total (down from 39% in 2024), normalized in 2H25 with no significant restrictions affecting margins.
- **Advanced Packaging Growth**: 2025 advanced packaging revenue ~20% of total (vs. 15% in 2024), driven by WMC, PRISM, and Ancolyzer adoption.
- **NAND Positioning**: Limited 2025 NAND exposure, potential 2H26 growth if customers expand capacity.
- **M&A Strategy**: $750 million war chest for tuck-in acquisitions in process control or adjacent semiconductor segments.

Nova Ltd. (NVMI) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

NVMI

NVMI fundamentals

You can ask Aime