Onto Innovation Inc.
ONTOQ2 2024(ONTO Q1 FY2024)Estimated8% AI
AI Revenue %
8%
AI Fair Value
$343.0M
AI Revenue (Q)
$18.3M
Total Revenue (Q)
$228.8M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q1 FY2024 revenue was $228.8M, up 15% YoY. South Korea ($80.2M) and Taiwan ($71.1M) dominated, together 66% of revenue — reflecting major HBM/advanced packaging customers Samsung, SK Hynix, and TSMC. Samsung 26%, TSMC 26%, SK Hynix 12% of Q1 revenue. These three are the primary purchasers of inspection tools for AI chip packaging (HBM stacking inspection, CoWoS packaging). The shift toward Korea and Taiwan from the US and China strongly suggests AI packaging demand was driving growth. Estimate 8% — AI packaging inspection demand accelerating but still a portion of total equipment shipments.
Analyzed by claude-opus-4-6
Quoted Figures
Revenue $228,846K for three months ended March 30, 2024
10-Q filed for period ending March 30, 2024
Samsung 26%, TSMC 26%, SK Hynix 12% of Q1 revenue
10-Q filed for period ending March 30, 2024, Note 14
South Korea $80,239K (35%), Taiwan $71,103K (31%)
10-Q filed for period ending March 30, 2024, Note 14
AI Products Identified (Ring 1)
Dragonfly inspection systemsAdvanced packaging inspection/metrology
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Optical metrology for advanced nodesPanel-level packaging lithography
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix