Nova Reports Record Fourth Quarter and Full Year 2024 Results

PR Newswire

02-13

REHOVOT, Israel, Feb. 13, 2025 /PRNewswire/ -- Nova (Nasdaq: NVMI) today announced financial results for the fourth quarter and full year ended December 31, 2024. Fourth Quarter 2024 Highlights: ...

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charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nova Reports Record Fourth Quarter and Full Year 2024 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNova Reports Record Fourth Quarter and Full Year 2024 Results\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">PR Newswire</strong><span class=\"h-time small\">2025-02-13 20:30</span>\n</p>\n</h4>\n</header>\n<article>\n<div>\n<p>REHOVOT, Israel, Feb. 13, 2025 /PRNewswire/ -- Nova (Nasdaq: NVMI) today announced financial results for the fourth quarter and full year ended December 31, 2024.\n\n\n\nFourth Quarter 2024 Highlights:\n\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/nova-reports-record-fourth-quarter-123000479.html\">網頁鏈接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://finance.yahoo.com/news/nova-reports-record-fourth-quarter-123000479.html\">PR Newswire</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"K","symbol_name":"家樂氏","start_time":0,"source_url":"https://finance.yahoo.com/news/nova-reports-record-fourth-quarter-123000479.html","article_id":"2511544931","we_media_id":null,"thumbnails":[],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/nova-reports-record-fourth-quarter-123000479.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2511544931","pubTimestamp":1739449800,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"REHOVOT, Israel, Feb. 13, 2025 /PRNewswire/ -- Nova today announced financial results for the fourth quarter and full year ended December 31, 2024.Record Quarterly revenue of $194.8 million, a 9% QoQ increase, exceeding the Company guidance and up 45% YoY.GAAP net income of $50.5 million, or $1.58per diluted share, up 32% YoY.Record non-GAAP net income of $62.3million, or $1.94per diluted share, exceeding the Company guidance, and up 43% YoY.Record sales of materials metrology, driven by sales of NovaMetrion and Nova Veraflex platforms. Record sales for dimensional metrology stand-alone solutions, driven by demand for unique capabilities in advanced packaging andGAA manufacturing.Record annual revenue of $672.4 million up 30% YoY. Record GAAP net income of $183.8 million, or $5.75 per diluted share up 34% YoY. Record Non-GAAP net income of $214.9 million, or $6.69 per diluted share up 38% YoY. Record sales for advanced packaging processes, more than doubling revenues from the segment. ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"K":"家乐氏","BK4585":"ETF&股票定投概念","LU0278937759.USD":"abrdn SICAV I - EMERGING MARKETS SMALLER COMPANIES\"A\" (USD) ACC","BK4147":"半导体设备","NVMI":"Nova Ltd","BK4588":"碎股","BK4504":"桥水持仓","BK4212":"包装食品与肉类","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD"},"translate_title":"Nova报告创纪录的2024年第四季度和全年业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"K":1,"NVMI":0.9},"content_text":"REHOVOT, Israel, Feb. 13, 2025 /PRNewswire/ -- Nova (Nasdaq: NVMI) today announced financial results for the fourth quarter and full year ended December 31, 2024.\n\n\n\nFourth Quarter 2024 Highlights:\n\nRecord Quarterly revenue of $194.8 million, a 9% QoQ increase, exceeding the Company guidance and up 45% YoY.\nGAAP net income of $50.5 million, or $1.58 per diluted share, up 32% YoY.\nRecord non-GAAP net income of $62.3 million, or $1.94 per diluted share, exceeding the Company guidance, and up 43% YoY.\nRecord sales of materials metrology, driven by sales of Nova Metrion and Nova Veraflex platforms\nRecord sales for dimensional metrology stand-alone solutions, driven by demand for unique capabilities in advanced packaging and GAA manufacturing.\n\nFull Year 2024 Highlights:\n\nRecord annual revenue of $672.4 million up 30% YoY\nRecord GAAP net income of $183.8 million, or $5.75 per diluted share up 34% YoY\nRecord Non-GAAP net income of $214.9 million, or $6.69 per diluted share up 38% YoY\nRecord sales for advanced packaging processes, more than doubling revenues from the segment\nRecord sales of materials metrology, driven by growing adoption of the Company's solutions across market segments\n\nGAAP Results (K)\n\n\n\n\n\nQ4 2024 \nQ3 2024 \nQ4 2023 \nFY 2024 \nFY 2023 \n\n\nRevenues \n$194,766 \n$178,974 \n$134,219 \n$672,396 \n$517,922 \n\n\nNet Income \n$50,481 \n$51,279 \n$38,068 \n$183,762 \n$136,310 \n\n\nEarnings per Diluted Share \n$1.58 \n$1.60 \n$1.20 \n$5.75 \n$4.28 \n\n\n\n\nNon-GAAP Results (K)\n\n\n\n\n\nQ4 2024 \nQ3 2024 \nQ4 2023 \nFY 2024 \nFY 2023 \n\n\nNet Income \n$62,302 \n$56,056 \n$43,597 \n$214,926 \n$155,891 \n\n\nEarnings per Diluted Share \n$1.94 \n$1.74 \n$1.36 \n$6.69 \n$4.86 \n\n\n\n\n\n\n\n\n\nA reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements included in this release. See also \"Use of Non-GAAP Adjusted Financial Measures\" section. \n\n\n\n\nManagement Comments\n\"Nova continues to outperform the market, with quarterly and annual sales records which exceeded the high end of the guidance in both revenue and profitability,\" said Gaby Waisman, President and CEO. \"As we reflect on the past year, we count multiple achievements across our product lines, including strategic penetrations into leading manufacturers, an evolving position in new segments, and a growing market share. All of these, combined with Nova's long-term strategy for perpetual growth, set the stage for our continued growth in 2025.\"\n2025 First Quarter Financial Outlook\nManagement provided an outlook for the first quarter, the period ending March 31, 2025. Based on current estimates, management expects:\n\n$205 million to $215 million in revenue\n$1.75 to $1.91 in diluted GAAP EPS\n$2.00 to $2.16 in diluted non-GAAP EPS\n\n2024 Fourth Quarter Results\nTotal revenues for the fourth quarter of 2024 were $194.8 million, an increase of 9% compared with the third quarter of 2024 and an increase of 45% compared with the fourth quarter of 2023.\nGross margin in the fourth quarter of 2024 was 56.4%, compared with 56.6% in the third quarter of 2024 and 55.1% in the fourth quarter of 2023.\nOperating expenses in the fourth quarter of 2024 were $54.5 million, compared with $52.1 million in the third quarter of 2024 and $40.4 million in the fourth quarter of 2023.\nOn a GAAP basis, the Company reported net income of $50.5 million, or $1.58 per diluted share, in the fourth quarter of 2024. This is compared with net income of $51.3 million, or $1.60 per diluted share, in the third quarter of 2024, and $38.1 million, or $1.20 per diluted share, in the fourth quarter of 2023.\nOn a non-GAAP basis, the Company reported net income of $ 62.3 million, or $1.94 per diluted share, in the fourth quarter of 2024. This is compared with net income of $ 56.1 million, or $1.74 per diluted share, in the third quarter of 2024, and $43.6 million, or $1.36 per diluted share, in the fourth quarter of 2023.\n2024 Full Year Results\nTotal revenues for 2024 were $672.4 million, an increase of 30% compared to total revenues of $517.9 million for 2023.\nGross margin in 2024 was 57.6%, compared with 56.6% in 2023.\nOperating expenses in 2024 were $199.5 million, compared with operating expenses of $160.9 million in 2023.\nOn a GAAP basis, the Company reported net income of $183.7 million, or $5.75 per diluted share, in 2024. This is compared with a net income of $136.3 million, or $4.28 per diluted share, in 2023.\nOn a non-GAAP basis, the Company reported net income of $214.9 million, or $6.69 per diluted share, in 2024. This is compared with net income of $155.9 million, or $4.86 per diluted share, in 2023.\nConference Call Information\nNova will host a conference call today, February 13, 2025, at 8:30 a.m. Eastern Time, to discuss the Company's fourth quarter 2024 financial results and outlook. To attend the conference call, please dial one of the following teleconferencing numbers. Please begin by placing your calls five minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.\nU.S. TOLL-FREE Dial-in Number: 1-833-816-1427ISRAEL TOLL-FREE    Dial-in Number: 1-809-213-284INTERNATIONAL Dial-in Number: 1-412-317-0519\nAt:8:30 a.m. Eastern Time5:30 a.m. Pacific Time3:30 p.m. Israel Time\nThe conference call will also be webcast live from a Link on Nova's website at https://www.novami.com/investors/events/. \nA replay of the conference call will be available from February 13, 2025, at 11:30 a.m. Eastern Time until August 15, 2025, at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers:\nReplay Dial-in U.S. TOLL-FREE: 1-877-344-7529Replay Dial-in INTERNATIONAL: 1-412-317-0088Replay Pin Number: 8533745\nA replay will also be available for 90 days on Nova's website link at https://www.novami.com/investors/events/.\nAbout NovaNova is a leading innovator and key provider of material, optical and chemical metrology solutions for advanced process control in semiconductor manufacturing. Nova delivers continuous innovation by providing state-of-the-art, high-performance metrology solutions for effective process control throughout the semiconductor fabrication lifecycle. Nova's product portfolio, which combines high-precision hardware and cutting-edge software, provides its customers with deep insight into developing and producing the most advanced semiconductor devices. Nova's unique capability to deliver innovative solutions enables its customers to improve performance, enhance product yields and accelerate time to market. Nova acts as a partner to semiconductor manufacturers from its offices worldwide. Additional information may be found on Nova's website link - https://www.novami.com/.\nNova is traded on the Nasdaq and TASE, Nasdaq ticker symbol NVMI.\nUse of Non-GAAP Adjusted Financial MeasuresThis press release provides financial measures that exclude amortization of acquired intangible assets, stock-based compensation expenses, acquisition related expenses, revaluation of operating lease liabilities and remeasurement of intercompany loans, amortization of issuance costs and tax effect of non-GAAP adjustment, as applicable, and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding Nova's performance because they reflect our operational results and enhance management's and investors' ability to evaluate Nova's performance before charges or benefits considered by management to be outside Nova's ongoing operating results. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management believes that it is in the best interest of its investors to provide financial information that will facilitate comparison of both historical and future results and allow greater transparency to supplemental information used by management in its financial and operational decision making. A reconciliation of each GAAP to non-GAAP financial measure discussed in this press release is contained in the accompanying financial tables.\nForward-Looking StatementsThis press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding, but not limited to, anticipated growth opportunities and projections about our business and its future revenues, expenses and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied in those forward-looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to, the following:  increased information technology security threats and sophisticated computer crime; foreign political and economic risks including supply-chain difficulties; regulations that could restrict our operations such as economic sanctions and export restrictions; changes in U.S. trade policies; indirect effects of the Russia – Ukraine conflict; market instability including inflation and recessionary pressures; risks related to doing business with China; catastrophic events; inability to protect our intellectual property; open source technology exposure, including risks related to artificial intelligence; failure to compete effectively or to respond to rapid technological changes; consolidation in our industry; difficulty in predicting the length and strength of any downturn or expansion period of the market we target; factors that adversely affect the pricing and demand for our product lines; dependency on a small number of large customers; dependency on a single manufacturing facility per product line; dependency on a limited number of suppliers; difficulty in integrating current or future acquisitions; lengthy sales cycle and customer delays in orders; risks related to conditions in Israel, including related to the war against Hamas and other terrorist organizations; risks related to our convertible notes; currency fluctuations; and quarterly fluctuations in our operating results. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading \"Risk Factors\" in Nova's Annual Report on Form 20-F for the year ended December 31, 2023, filed with the Securities and Exchange Commission on February 20, 2024. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Ltd. does not assume any obligation to update the forward-looking information contained in this press release.\n(Tables to Follow)\n\n\n\n\nNOVA LTD.  \n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS \n\n\n(U.S. dollars in thousands) - (Unaudited) \n\n\n\n\n\n\nAs of December 31, \n\n\nASSETS \n2024 \n\n2023 \n\n\nCurrent assets \n\n\n\n\n\nCash and cash equivalents \n157,779 \n\n107,574 \n\n\nShort-term interest-bearing bank deposits \n211,877 \n\n119,850 \n\n\nMarketable securities \n216,910 \n\n216,258 \n\n\nTrade accounts receivable, net \n139,318 \n\n111,256 \n\n\nInventories \n156,599 \n\n138,198 \n\n\nOther current assets \n19,466 \n\n17,084 \n\n\nTotal current assets \n901,949 \n\n710,220 \n\n\nNon-current assets \n\n\n\n\n\nMarketable securities \n225,818 \n\n191,351 \n\n\nInterest-bearing bank deposits and restricted deposits \n7,847 \n\n6,254 \n\n\nDeferred tax assets \n31,639 \n\n23,583 \n\n\nOperating lease right-of-use assets \n51,193 \n\n41,856 \n\n\nProperty plant and equipment, net \n81,746 \n\n66,874 \n\n\nIntangible assets, net \n31,458 \n\n39,184 \n\n\nGoodwill \n48,317 \n\n50,080 \n\n\nOther long-term assets \n10,455 \n\n4,405 \n\n\nTotal non-current assets \n488,473 \n\n423,587 \n\n\nTotal assets \n1,390,422 \n\n1,133,807 \n\n\nLIABILITIES AND SHAREHOLDERS' EQUITY \n\n\n\n\n\nCurrent liabilities \n\n\n\n\n\n   Convertible senior notes, net \n180,564 \n\n197,678 \n\n\nTrade accounts payable \n59,578 \n\n35,158 \n\n\nDeferred revenues \n72,886 \n\n41,978 \n\n\nOperating lease current liabilities \n7,169 \n\n6,703 \n\n\nOther current liabilities \n68,033 \n\n41,294 \n\n\nTotal current liabilities \n388,230 \n\n322,811 \n\n\nNon-current liabilities \n\n\n\n\n\nOperating lease long-term liabilities \n48,363 \n\n39,762 \n\n\nLong-term deferred tax liability \n8,495 \n\n10,574 \n\n\nOther long-term liabilities \n17,539 \n\n9,908 \n\n\nTotal non-current liabilities \n74,397 \n\n60,244 \n\n\nShareholders' equity  \n927,795 \n\n750,752 \n\n\nTotal liabilities and shareholders' equity  \n1,390,422 \n\n1,133,807 \n\n\n\n\n\n\n\n\nNOVA LTD. \n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS \n\n\n(U.S. dollars in thousands, except per share data) - (Unaudited) \n\n\n\n\n\n\nThree months ended  December 31, \n\nYear ended  December 31, \n\n\n\n2024 \n\n2023 \n\n2024 \n\n\n2023 \n\n\nRevenues: \n\n\n\n\n\n\n\n\n\n\nProducts \n158,546 \n\n104,108 \n\n538,350 \n\n\n405,037 \n\n\nServices \n36,220 \n\n30,111 \n\n134,046 \n\n\n112,885 \n\n\nTotal revenues \n194,766 \n\n134,219 \n\n672,396 \n\n\n517,922 \n\n\nTotal cost of revenues \n84,835 \n\n60,207 \n\n285,310 \n\n\n224,745 \n\n\nGross profit  \n109,931 \n\n74,012 \n\n387,086 \n\n\n293,177 \n\n\nOperating expenses: \n\n\n\n\n\n\n\n\n\n\nResearch and development, net  \n30,909 \n\n21,290 \n\n110,257 \n\n\n88,043 \n\n\nSales and marketing \n15,980 \n\n13,580 \n\n65,090 \n\n\n52,467 \n\n\nGeneral and administrative \n7,571 \n\n5,480 \n\n24,199 \n\n\n20,404 \n\n\nTotal operating expenses \n54,460 \n\n40,350 \n\n199,546 \n\n\n160,914 \n\n\nOperating income \n55,471 \n\n33,662 \n\n187,540 \n\n\n132,263 \n\n\nFinancing income, net \n3,756 \n\n7,283 \n\n28,747 \n\n\n22,436 \n\n\nIncome before taxes on income \n59,227 \n\n40,945 \n\n216,287 \n\n\n154,699 \n\n\nIncome tax expenses  \n8,746 \n\n2,877 \n\n32,525 \n\n\n18,389 \n\n\nNet income for the period \n50,481 \n\n38,068 \n\n183,762 \n\n\n136,310 \n\n\n\n\n\n\n\n\n\n\n\n\n\nEarnings per share: \n\n\n\n\n\n\n\n\n\n\nBasic \n1.72 \n\n1.31 \n\n6.31 \n\n\n4.73 \n\n\nDiluted \n1.58 \n\n1.20 \n\n5.75 \n\n\n4.28 \n\n\n\n\n\n\n\n\n\n\n\n\n\nShares used in calculation of earnings per share (in thousands): \n\n\n\n\n\n\n\n\n\n\nBasic \n29,304 \n\n28,975 \n\n29,113 \n\n\n28,828 \n\n\nDiluted \n32,062 \n\n32,023 \n\n32,138 \n\n\n32,089 \n\n\n\n\n\n\n\n\n\n\n\nNOVA LTD. \n\n\nCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS \n\n\n(U.S. dollars in thousands) - (Unaudited) \n\n\n\n\n\n\nThree months ended  December 31, \nYear ended  December 31, \n\n\n\n2024 \n\n\n2023 \n\n2024 \n\n2023 \n\n\n Cash flows from operating activities:  \n\n\n\n\n\n\n\n\n\n\nNet income \n50,481 \n\n\n38,068 \n\n183,762 \n\n136,310 \n\n\nAdjustments to reconcile net income to net cash provided by operating activities: \n\n\n\n\n\n\n\n\n\n\n     Depreciation of property and equipment \n3,029 \n\n\n2,756 \n\n11,736 \n\n10,344 \n\n\n     Amortization of intangible assets \n1,267 \n\n\n1,461 \n\n5,643 \n\n5,857 \n\n\n     Amortization of premium and accretion of discount on marketable securities, net \n(1,820) \n\n\n(1,134) \n\n(7,178) \n\n(3,001) \n\n\n     Amortization of debt issuance costs \n310 \n\n\n324 \n\n1,280 \n\n1,284 \n\n\n     Share-based compensation \n6,349 \n\n\n5,654 \n\n25,209 \n\n18,286 \n\n\n     Net effect of exchange rate fluctuation \n4,109 \n\n\n(2,591) \n\n3,025 \n\n1,754 \n\n\nChanges in assets and liabilities: \n\n\n\n\n\n\n\n\n\n\n     Trade accounts receivable, net \n(26,196) \n\n\n(18,606) \n\n(29,051) \n\n(1,183) \n\n\n     Inventories \n876 \n\n\n2,851 \n\n(23,897) \n\n(26,000) \n\n\n     Other current and long-term assets  \n(4,097) \n\n\n(361) \n\n(9,671) \n\n(5,752) \n\n\n     Deferred tax, net \n(4,849) \n\n\n(185) \n\n(9,722) \n\n(6,241) \n\n\n     Operating lease right-of-use assets \n559 \n\n\n259 \n\n3,668 \n\n3,050 \n\n\n     Trade accounts payable  \n6,309 \n\n\n8,917 \n\n17,506 \n\n(7,807) \n\n\n     Deferred revenues  \n19,494 \n\n\n(292) \n\n34,553 \n\n11,391 \n\n\n     Operating lease liabilities \n97 \n\n\n2,091 \n\n(3,938) \n\n(3,221) \n\n\n     Other current and long-term liabilities \n12,686 \n\n\n(9,671) \n\n32,299 \n\n(11,352) \n\n\n     Accrued severance pay, net \n(82) \n\n\n64 \n\n42 \n\n(188) \n\n\nNet cash provided by operating activities \n68,522 \n\n\n29,605 \n\n235,266 \n\n123,531 \n\n\n Cash flows from investment activities:  \n\n\n\n\n\n\n\n\n\n\nChange in short-term and long-term interest-bearing bank deposits \n(4,339) \n\n\n31,367 \n\n(93,595) \n\n(29,658) \n\n\nInvestment in marketable securities \n(60,175) \n\n\n(106,695) \n\n(271,987) \n\n(273,572) \n\n\nProceeds from maturity of marketable securities \n57,421 \n\n\n44,443 \n\n246,397 \n\n195,087 \n\n\nPurchase of property and equipment \n(8,121) \n\n\n(7,601) \n\n(17,215) \n\n(17,188) \n\n\nNet cash used in investing activities \n(15,214) \n\n\n(38,486) \n\n(136,400) \n\n(125,331) \n\n\nCash flows from financing activities: \n\n\n\n\n\n\n\n\n\n\nPurchases of treasury shares  \n(30,000) \n\n\n- \n\n(30,000) \n\n(112) \n\n\nConversion of convertible senior notes \n(18,506) \n\n\n- \n\n(18,506) \n\n- \n\n\nProceeds from exercise of options \n90 \n\n\n- \n\n160 \n\n122 \n\n\nNet cash provided by financing activities \n(48,416) \n\n\n- \n\n(48,346) \n\n10 \n\n\nEffect of exchange rate fluctuations on cash and cash equivalents \n(1,076) \n\n\n(25) \n\n(315) \n\n(2,357) \n\n\nChanges in cash and cash equivalents and restricted cash \n3,816 \n\n\n(8,906) \n\n50,205 \n\n(4,147) \n\n\nCash and cash equivalents and restricted cash -beginning of period \n153,963 \n\n\n116,480 \n\n107,574 \n\n111,721 \n\n\nCash and cash equivalents - end of period \n157,779 \n\n\n107,574 \n\n157,779 \n\n107,574 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNOVA LTD. \n\n\nRECONCILIATION OF GAAP TO NON-GAAP RESULTS \n\n\n(U.S. dollars in thousands, except percentage and per share data) - (Unaudited) \n\n\n\n\n\n\nThree months ended \n\n\n\nDecember 31,2024 \n\nSeptember 30,2024 \n\nDecember 31,2023 \n\n\nGAAP gross profit \n109,931 \n\n101,333 \n\n74,012 \n\n\nStock-based compensation* \n1,805 \n\n1,722 \n\n1,537 \n\n\nAmortization of acquired intangible assets \n1,182 \n\n1,380 \n\n1,354 \n\n\nNon-GAAP gross profit \n112,918 \n\n104,435 \n\n76,903 \n\n\nGAAP gross margin as a percentage of revenues \n56 % \n\n57 % \n\n55 % \n\n\nNon-GAAP gross margin as a percentage of revenues \n58 % \n\n58 % \n\n57 % \n\n\n\n\n\n\n\n\n\n\nGAAP operating income \n55,471 \n\n49,231 \n\n33,662 \n\n\nStock-based compensation* \n6,349 \n\n6,194 \n\n5,654 \n\n\nAcquisition related expenses \n917 \n\n- \n\n- \n\n\nAmortization of acquired intangible assets \n1,267 \n\n1,467 \n\n1,461 \n\n\nNon-GAAP operating income \n64,004 \n\n56,892 \n\n40,777 \n\n\nGAAP operating margin as a percentage of revenues \n28 % \n\n28 % \n\n25 % \n\n\nNon-GAAP operating margin as a percentage of revenues \n33 % \n\n32 % \n\n30 % \n\n\n\n\n\n\n\n\n\n\nGAAP net income \n50,481 \n\n51,279 \n\n38,068 \n\n\nStock-based compensation* \n6,349 \n\n6,194 \n\n5,654 \n\n\nAcquisition related expenses \n917 \n\n- \n\n- \n\n\nAmortization of acquired intangible assets \n1,267 \n\n1,467 \n\n1,461 \n\n\nAmortization of debt issuance costs \n310 \n\n326 \n\n324 \n\n\nRevaluation of operating lease and intercompany loans \n4,706 \n\n(2,309) \n\n(827) \n\n\nTax effect of non-GAAP adjustments \n(1,728) \n\n(901) \n\n(1,083) \n\n\nNon-GAAP net income \n62,302 \n\n56,056 \n\n43,597 \n\n\n\n\n\n\n\n\n\n\nGAAP basic earnings per share  \n1.72 \n\n1.76 \n\n1.31 \n\n\nNon-GAAP basic earnings per share \n2.13 \n\n1.93 \n\n1.50 \n\n\n\n\n\n\n\n\n\n\nGAAP diluted earnings per share  \n1.58 \n\n1.60 \n\n1.20 \n\n\nNon-GAAP diluted earnings per share \n1.94 \n\n1.74 \n\n1.36 \n\n\n\n\n\n\n\n\n\n\nShares used for calculation of earnings per share(in thousands): \n\n\n\n\n\n\n\nBasic \n29,304 \n\n29,099 \n\n28,975 \n\n\nDiluted \n32,062 \n\n32,238 \n\n32,023 \n\n\n\n\n\n\n\n\n\n\n* Stock-based compensation for the three months ended December 31, 2024 included in - Cost of revenues - 1,805; Research and development, net - 2,747; Sales and marketing - 1,234; General and administrative - 563. \n\n\n\n\n\n\n\n\nNOVA LTD. \n\n\nRECONCILIATION OF GAAP TO NON-GAAP RESULTS \n\n\n(U.S. dollars in thousands, except percentage and per share data) - (Unaudited) \n\n\n\n\n\n\nYear ended December 31, \n\n\n\n2024 \n\n2023 \n\n\nGAAP gross profit \n387,086 \n\n293,177 \n\n\nStock-based compensation* \n7,013 \n\n4,946 \n\n\nAcquisition-related inventory step-up \n5,284 \n\n5,430 \n\n\nNon-GAAP gross profit \n399,383 \n\n303,553 \n\n\nGAAP gross margin as a percentage of revenues \n58 % \n\n57 % \n\n\nNon-GAAP gross margin as a percentage of revenues \n59 % \n\n59 % \n\n\n\n\n\n\n\n\nGAAP operating income \n187,540 \n\n132,263 \n\n\nStock-based compensation* \n25,209 \n\n18,286 \n\n\nAcquisition related expenses \n917 \n\n- \n\n\nAmortization of acquired intangible assets \n5,643 \n\n5,857 \n\n\nNon-GAAP operating income \n219,309 \n\n156,406 \n\n\nGAAP operating margin as a percentage of revenues \n28 % \n\n26 % \n\n\nNon-GAAP operating margin as a percentage of revenues \n33 % \n\n30 % \n\n\n\n\n\n\n\n\nGAAP net income \n183,762 \n\n136,310 \n\n\nStock-based compensation* \n25,209 \n\n18,286 \n\n\nAcquisition related expenses \n917 \n\n- \n\n\nAmortization of acquired intangible assets \n5,643 \n\n5,857 \n\n\nAmortization of debt issuance costs \n1,280 \n\n1,284 \n\n\nRevaluation of operating lease liabilities  \n3,221 \n\n(1,994) \n\n\nTax effect of non-GAAP adjustments \n(5,106) \n\n(3,852) \n\n\nNon-GAAP net income \n214,926 \n\n155,891 \n\n\n\n\n\n\n\n\nGAAP basic earnings per share  \n6.31 \n\n4.73 \n\n\nNon-GAAP basic earnings per share \n7.38 \n\n5.41 \n\n\n\n\n\n\n\n\nGAAP diluted earnings per share  \n5.75 \n\n4.28 \n\n\nNon-GAAP diluted earnings per share \n6.69 \n\n4.86 \n\n\n\n\n\n\n\n\nShares used for calculation of earnings per share(in thousands): \n\n\n\n\n\nBasic \n29,113 \n\n28,828 \n\n\nDiluted \n32,138 \n\n32,089 \n\n\n\n\n\n* Stock-based compensation for the year ended December 31, 2024, included in - Cost of revenues – 7,013; Research and development, net – 11,179; Sales and marketing – 4,864; General and administrative - 2,153. \n\n\n\n\n\n\n\n\nNOVA LTD. \n\n\nSUPPLEMENTAL INFORMATION - RECONCILIATION OF FIRST QUARTER 2025 \n\n\nGAAP TO NON-GAAP GUIDANCE \n\n\n(U.S. dollars) (Unaudited) \n\n\n\n\n\n\nLow \n\nHigh \n\n\nEstimated GAAP net income per diluted share \n1.75 \n\n1.91 \n\n\nEstimated non-GAAP items: \n\n\n\n\n\nStock-based compensation \n0.19 \n\n0.19 \n\n\nAmortization of acquired intangible assets and inventory step-up \n0.07 \n\n0.07 \n\n\nAcquisition related expenses \n0.02 \n\n0.02 \n\n\nAmortization of issuance costs \n0.01 \n\n0.01 \n\n\nTax effect of non-GAAP adjustments \n(0.04) \n\n(0.04) \n\n\nEstimated non-GAAP net income per diluted share \n2.00 \n\n2.16 \n\n\n\n\nCompany Contact:Guy Kizner, Chief Financial OfficerTel: +972-73-229-5760E-mail - investors@novami.comNova website link - https://www.novami.com/\nInvestor Relations Contact:Miri Segal MS-IR LLCTel: +917-607-8654E-mail - msegal@ms-ir.com\nLogo - https://mma.prnewswire.com/media/1446151/Nova_Logo.jpg\n View original content:https://www.prnewswire.com/news-releases/nova-reports-record-fourth-quarter-and-full-year-2024-results-302375856.html\nSOURCE Nova","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}

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