ONTO INNOVATION Business Summary

Onto Innovation Inc. (ONTO) is a global leader in the semiconductor equipment industry, specializing in the design and manufacture of high-performance process control solutions. The company generates revenue through a diversified model comprising the sale of standalone hardware systems, high-margin software licensing (including factory analytics and yield management suites), and recurring service contracts for spare parts and technical support. Its primary business segments encompass optical metrology, macro-defect inspection, and advanced packaging lithography, with a strategic focus on the rapid growth of AI-driven high-performance computing (HPC) and glass core substrate technologies. Within the competitive landscape, Onto Innovation maintains a specialized market position against larger-cap rivals like KLA Corporation and direct peers such as Camtek Ltd., Nova Ltd., and Axcelis Technologies, distinguishing itself through its comprehensive end-to-end process control portfolio that spans from front-end wafer fabrication to back-end advanced packaging. Formed in 2019 through the high-profile merger of Rudolph Technologies and Nanometrics, the company is led by Chief Executive Officer Michael P. Plisinski, who previously served as CEO of Rudolph Technologies and brings over 25 years of semiconductor capital equipment expertise. The executive team was significantly bolstered in June 2025 with the appointments of Brian K. Roberts as Chief Financial Officer, formerly of Sensata Technologies, and Shirley Chen as Senior Vice President of Customer Success, an industry veteran with extensive leadership experience at KLA and Thermo-Fisher Scientific. Other key leaders include Chief Operating Officer Ramil Yaldaei and Ido Dolev, Executive Vice President of Product Solutions. The company is governed by a board chaired by Christopher A. Seams and includes notable members such as Steve Kelley, CEO of Advanced Energy Industries. Onto Innovation is characterized by high institutional confidence, with approximately 98% of shares held by major investors including BlackRock and Vanguard.