NOVA (NVMI) Company Report

Analyst Coverage

Research analysts who have asked questions during NOVA earnings calls.

Charles Shi

Needham & Company

7 questions for NVMI

Also covers: ACLS, ACMR, ALTR +18 more

Ezra Weener

Jefferies LLC

5 questions for NVMI

Also covers: CAMT, COHR, LITE +2 more

Atif Malik

Citigroup Inc.

4 questions for NVMI

Also covers: AAPL, ALAB, AMAT +12 more

Vedvati Shrotre

Evercore ISI

4 questions for NVMI

Also covers: CAMT, FORM, ONTO +1 more

Michael Mani

Bank of America

3 questions for NVMI

Also covers: CAMT, COHR, KLAC +3 more

Aatif Malik

Citi

2 questions for NVMI

Also covers: AAPL, CLS

Elizabeth Sun

Citi

2 questions for NVMI

Also covers: ENTG, FORM

Ezra Weiner

Jefferies Financial Group Inc.

2 questions for NVMI

Liam Pharr

Bank of America Securities

2 questions for NVMI

Also covers: AMBA, SNPS, SWKS

Mark Miller

The Benchmark Company LLC

2 questions for NVMI

Also covers: ACLS, ACMR, AEIS +11 more

Matthew Prisco

Cantor Fitzgerald

2 questions for NVMI

Also covers: CAMT, FORM, MCHP +3 more

Matthew Pristo

Cantor

2 questions for NVMI

Shane Brett

Morgan Stanley

2 questions for NVMI

Also covers: AMAT, CAMT, KLAC +2 more

Zayd Bhatti Schroeder

Evercore ISI

2 questions for NVMI

Charles Shee

Needham and Company

1 question for NVMI

Duksan Jang

BofA Securities

1 question for NVMI

Also covers: ACLS, AEIS, LSCC

Mark Lipacis

Evercore ISI

1 question for NVMI

Also covers: ALAB, ALGM, AMAT +6 more

Vivek Arya

Bank of America Corporation

1 question for NVMI

Also covers: ADI, ALAB, ALGM +25 more

Latest news

Recent press releases and 8-K filings for NVMI.

Nova Reports Strong Q4 and Full-Year 2025 Results, Provides Q1 2026 Guidance

NVMI

Earnings

Guidance Update

New Projects/Investments

Nova reported Q4 2025 revenue of $223M, a 14% year-over-year increase, and EPS of $2.14, a 10% year-over-year increase. For the full year 2025, the company achieved revenue of $881M, up 31% year-over-year, and EPS of $8.62, up 29% year-over-year, with $1.6B in cash reserves and $218M in free cash flow.
For Q1 2026, Nova expects revenue between $222M and $232M and non-GAAP EPS between $2.13 and $2.25.
In Q4 2025, Nova's IM portfolio was selected by a leading global foundry, and the company is building new production capacity in Asia to enhance cost efficiency and proximity to customers. The company also invests 15% of its annual revenue in R&D.
Nova is positioned for growth in the semiconductor market, with industry revenue projected to reach $1050B in 2026 and $1309B in 2030, representing a 14% CAGR from 2025-2030.

Feb 12, 2026, 1:30 PM

Presentation

Nova Ltd. Reports Record Full Year 2025 Results and Provides Q1 2026 Guidance

NVMI

Earnings

Guidance Update

Revenue Acceleration/Inflection

Nova Ltd. achieved record annual revenue of $880.6 million for full year 2025, marking a 31% increase year-over-year, alongside record GAAP and non-GAAP profitability with non-GAAP EPS of $8.62 per diluted share.
In Q4 2025, revenue reached $222.6 million, a 14% year-over-year increase, and non-GAAP earnings per diluted share were $2.14, surpassing the guidance midpoint.
For Q1 2026, the company forecasts revenue between $222 million and $232 million and non-GAAP EPS between $2.13 and $2.25 per diluted share.
Nova anticipates the Wafer Fab Equipment (WFE) market to grow in the low double digits in 2026 and expects to outperform this market.
Advanced packaging revenue increased over 60% year-over-year in 2025, representing approximately 20% of product revenue, and the company grew its market share in CD and film to about 25% in 2024.

Feb 12, 2026, 1:30 PM

Transcript

Nova Ltd. Reports Record 2025 Results and Provides Q1 2026 Guidance

NVMI

Earnings

Guidance Update

Revenue Acceleration/Inflection

Nova Ltd. achieved record annual revenue of $880.6 million in 2025, a 31% year-over-year increase, with record GAAP and non-GAAP profitability and earnings per share growing 29% year-over-year. For Q4 2025, revenue was $222.6 million and non-GAAP diluted EPS was $2.14.
The company issued Q1 2026 guidance, projecting revenues between $222 million and $232 million and non-GAAP diluted EPS between $2.13 and $2.25.
Nova expects to outperform the anticipated low double-digit WFE growth in 2026, driven by strong momentum in advanced logic, DRAM, and advanced packaging, with advanced packaging revenue increasing over 60% in 2025.
Strategic initiatives include expanding global manufacturing capacity, notably in Asia, and achieving a 25% market share in CD and film in 2024, according to Gartner.

Feb 12, 2026, 1:30 PM

Transcript

Nova Ltd. Announces Record Q4 and Full Year 2025 Financial Results and Positive Q1 2026 Guidance

NVMI

Earnings

Guidance Update

Revenue Acceleration/Inflection

Nova Ltd. delivered record annual revenue of $880.6 million in 2025, marking a 31% year-over-year increase, alongside record GAAP and non-GAAP profitability, with non-GAAP earnings per share growing 29% year-over-year to $8.62 per diluted share.
For the fourth quarter of 2025, revenue reached $222.6 million, up 14% year-over-year, and non-GAAP earnings per share were $2.14 per diluted share, exceeding the midpoint of guidance.
The company provided guidance for Q1 2026, expecting revenues between $222 million and $232 million and non-GAAP earnings per diluted share between $2.13 and $2.25.
Nova anticipates continued growth in 2026, driven by strong momentum in advanced logic (including Gate-All-Around processes), DRAM and High Bandwidth Memory, and advanced packaging, with advanced packaging revenue rising more than 60% year-over-year in 2025.
The company expects to outperform the overall WFE market, which is projected to grow in the low double digits for 2026, and has expanded its market share, reaching 25% in CD and film film metrology in 2024.

Feb 12, 2026, 1:30 PM

Transcript

Nova Reports Q4 and Full Year 2025 Results, Provides Q1 2026 Outlook

NVMI

Earnings

Guidance Update

Revenue Acceleration/Inflection

Nova reported record full-year 2025 revenue of $880.6 million, marking a 31% increase year-over-year, alongside record GAAP net income of $259.2 million ($7.96 per diluted share) and record non-GAAP net income of $282.6 million ($8.62 per diluted share).
For the fourth quarter of 2025, the company achieved revenue of $222.6 million, a 14% increase year-over-year, with non-GAAP net income of $72.2 million, or $2.14 per diluted share.
Management provided an outlook for the first quarter of 2026, anticipating revenue between $222 million and $232 million, and diluted non-GAAP EPS between $2.13 and $2.25.

Feb 12, 2026, 12:30 PM

6-K

Nova Reports Fourth Quarter and Full Year 2025 Results and Provides Q1 2026 Outlook

NVMI

Earnings

Guidance Update

Revenue Acceleration/Inflection

Nova announced its fourth quarter and full year 2025 financial results on February 12, 2026.
For the full year 2025, Nova achieved record annual revenue of $880.6 million, a 31% increase year-over-year, and record GAAP net income of $259.2 million.
In the fourth quarter of 2025, the company reported revenue of $222.6 million and GAAP diluted earnings per share of $1.94.
Management provided an outlook for the first quarter of 2026, expecting revenue between $222 million and $232 million and diluted non-GAAP EPS between $2.13 and $2.25.

Feb 12, 2026, 12:30 PM

Press Release

Nova Announces Adoption of Metrion® Platform

NVMI

Product Launch

New Projects/Investments

Nova (Nasdaq: NVMI) announced on January 29, 2026, the adoption of its Nova Metrion® platform by two leading global manufacturers in Memory and Logic device production.
The platform was purchased for Gate-All-Around (GAA) and advanced DRAM device production, enabling customers to accelerate performance and yield.
This achievement marks a significant milestone in Nova Metrion®'s market penetration, expanding Nova's materials metrology footprint in critical semiconductor technology areas.
Nova Metrion® is highlighted as the first fully automated Secondary Ion Mass Spectrometry system validated for inline production process control, designed to identify process excursions in near-real time.

Jan 29, 2026, 1:00 PM

6-K

Nova Provides 2026 Outlook and Updates on Strategic Targets

NVMI

Guidance Update

Debt Issuance

M&A

Nova anticipates 2026 to be a growth year, heavily weighted towards the second half, with expected outperformance of the overall WFE market, primarily driven by investments in advanced nodes, DRAM memory, and advanced packaging.
The company is on track to meet its $500 million cumulative Gate-All-Around revenue target for the period between 2024 and 2026.
Advanced packaging revenue exposure is projected to increase from 10% in 2023 to 15% in 2024 and approximately 20% of revenues in 2026.
Nova holds $1.6 billion in cash on its balance sheet, following a $750 million convertible notes offering in September 2025, with M&A identified as a key capital allocation strategy.
The long-term target for 2027 remains $1 billion in revenue and $10 EPS, with the $1 billion revenue now expected to be achieved organically, supplemented by an additional $150-$200 million from inorganic growth.

Jan 14, 2026, 5:45 PM

Transcript

Nova CFO Discusses 2026 Outlook, Advanced Packaging Growth, and Long-Term Targets

NVMI

Guidance Update

New Projects/Investments

Debt Issuance

Nova's CFO, Guy Kizner, expects 2026 to be a growth year, driven by investments in advanced nodes, DRAM memory, and advanced packaging, with the year being second-half weighted and the company outperforming WFE.
The company is on track to meet its $500 million cumulative Gate-All-Around (GAA) revenue target between 2024 and 2026.
Advanced packaging is a significant growth driver, with revenues from this segment projected to reach 20% of total revenues in 2026, up from 15% in 2024 and 10% in 2023.
Nova holds $1.6 billion on its balance sheet as of January 2026, following a $750 million convertible notes offering in September 2025, with M&A being a primary capital allocation strategy.
The company remains confident in achieving its long-term target of $1 billion in organic revenue by 2027, with street estimates for 2026 revenue around $880 million.

Jan 14, 2026, 5:45 PM

Transcript

Nova Provides 2026 Outlook, Updates on Long-Term Targets, and M&A Strategy

NVMI

Guidance Update

M&A

Debt Issuance

Nova expects 2026 to be a growth year, driven by investments in advanced nodes, DRAM, and advanced packaging, with the year anticipated to be second-half weighted and the company expecting to outperform overall WFE.
The company is on track to meet its $500 million cumulative Gate-All-Around revenue target by 2026.
Advanced packaging revenue exposure has significantly increased, growing from 0% in 2021-2022 to 10% in 2023, 15% in 2024, and is projected to be around 20% of revenues in 2025.
Nova's 2027 target model of $1 billion revenue and $10 EPS was revised in early 2025 to be achievable through organic growth only, with an additional $150-$200 million from inorganic opportunities. Street estimates for 2025 revenue are around $880 million.
The company holds $1.6 billion in cash on its balance sheet, having raised $750 million through a convertible notes offering in September 2025, and prioritizes M&A opportunities that are accretive on an EPS basis within 12 months.