Onto Innovation Receives Volume Purchase Agreement from a Leading DRAM Manufacturer for Metrology Product Suite

WILMINGTON, Mass.--(BUSINESS WIRE)-- Onto Innovation Inc. (NYSE: ONTO) today announced that a leading DRAM manufacturer has finalized a $69 million volume purchase agreement spanning Onto Innovation's optical metrology ecosystem, including common films, optical critical dimension, and integrated metrology. This agreement implies increased adoption of the Iris^™ system for common films metrology, along with increased adoption of integrated metrology. Deliveries begin in the first quarter of 2025, supporting management's expectations for the start of a recovery in the DRAM market in 2025.

Beyond memory, the demand for Onto Innovation's films metrology has been robust, nearly doubling in revenue year over year. In response to market feedback, Onto Innovation is pleased to announce the launch of the Iris G2 system, a single platform film metrology system for both common and critical films for advanced node, mature and specialty device applications.

The Iris G2 system features deep ultraviolet (DUV) spectroscopic ellipsometry (SE) for common films and coupled proprietary laser ellipsometry technologies for critical films. This single platform is expected to serve all common and critical films applications, providing customers with the flexibility to optimize cost of ownership and performance based on their needs. Additionally, a single platform simplifies fleet management and fab operations while reducing overall capital investment.

"The Iris G2 system offers a flexible, compelling cost of ownership metrology solution for ultra-thin multilayer films measuring 10Å to 50Å," says Zhuan Liu, vice president of Onto's optical metrology suite. "We believe our proprietary technology will achieve better stability and higher throughput compared to alternative technologies."

The Iris G2 system will address the critical films market, forecast to be approximately $400 million in 2025, according to TechInsights and management estimates, with the first shipment scheduled for the first quarter of 2025. To learn more about the Iris G2 thin film metrology system, visit our website, contact us or reach out to your local sales team.

About Onto Innovation Inc.

Onto Innovation is a leader in process control, combining global scale with an expanded portfolio of leading-edge technologies that includes un-patterned wafer quality, 3D metrology spanning chip features from nanometer scale transistors to large die interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.

Our breadth of offerings across the entire semiconductor value chain combined with our connected thinking approach results in a unique perspective to help solve our customers' most difficult yield, device performance, quality, and reliability issues. Onto Innovation strives to optimize customers' critical path of progress by making them smarter, faster and more efficient. With headquarters and manufacturing in the U.S., Onto Innovation supports customers with a worldwide sales and service organization. Additional information can be found at www.ontoinnovation.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") which include statements relating to Onto Innovation's business momentum and future growth; the benefit to customers and the capabilities of Onto Innovation's products and customer service; Onto Innovation's ability to both deliver products and services consistent with our customers' demands and expectations and strengthen its market position, Onto Innovation's beliefs about market opportunities as well as other matters that are not purely historical data. Onto Innovation wishes to take advantage of the "safe harbor" provided for by the Act and cautions that actual results may differ materially from those projected as a result of various factors, including risks and uncertainties, many of which are beyond Onto Innovation's control. Such factors include, but are not limited to, the Company's ability to leverage its resources to improve its position in its core markets; its ability to weather difficult economic environments; its ability to open new market opportunities and target high-margin markets; the strength/weakness of the back-end and/or front-end semiconductor market segments; fluctuations in customer capital spending and any potential impact as a result of the novel coronavirus situation; the Company's ability to effectively manage its supply chain and adequately source components from suppliers to meet customer demand; its ability to adequately protect its intellectual property rights and maintain data security; its ability to effectively maneuver global trade issues and changes in trade and export license policies; the Company's ability to maintain relationships with its customers and manage appropriate levels of inventory to meet customer demands; and the Company's ability to successfully integrate acquired businesses and technologies. Additional information and considerations regarding the risks faced by Onto Innovation are available in Onto Innovation's Form 10-K report for the year ended December 30, 2023, and other filings with the Securities and Exchange Commission. As the forward-looking statements are based on Onto Innovation's current expectations, the Company cannot guarantee any related future results, levels of activity, performance or achievements. Onto Innovation does not assume any obligation to update the forward-looking information contained in this press release, except as required by law.

Source: Onto Innovation Inc.
ONTO-IP