Nova hits record heights as memory and advanced logic drive growth

Nova (NASDAQ:NVMI) delivered a stellar performance for the first quarter of 2026, setting new company records for revenue and profitability.

The semiconductor metrology specialist benefited from high-intensity demand for advanced nodes, particularly as chipmakers transition toward gate-all-around (GAA) logic and expand high-bandwidth memory (HBM) capacity for AI applications.

Nova reported that revenue for the quarter ended March 31, 2026, climbed to $235.3 million, a 10% increase year-over-year and 6% sequentially, surpassing the high end of its own guidance.

GAAP net income rose to $69.3 million, or $2.04 per share, while non-GAAP net income reached a record $80.3 million, or $2.33 per share.

The quarter was defined by record adoption of Nova’s specialized materials and chemical metrology platforms.

The company saw peak sales for its Metrion® platform, driven by the rollout of 2nm and 3nm advanced logic nodes.

Additionally, the AncoScene™ chemical metrology solution reached all-time high sales as manufacturers intensified their use of complex materials in advanced DRAM and HBM production.

The company's financial position remains robust, with gross margins holding steady at 57.7%, even as it reinvests over 15% of its revenue into R&D.

Nova also highlighted a diversifying revenue mix, with advanced packaging now accounting for approximately 20% of product sales, fueled by the industry-wide push for heterogeneous integration in high-performance computing (HPC) chips.

For the second quarter of 2026, Nova issued confident guidance, projecting revenue between $245 million and $255 million.

The company expects non-GAAP EPS to range from $2.34 to $2.48, signaling continued momentum as it anticipates outperforming the broader wafer fabrication equipment (WFE) market for the remainder of the year.