Nova (NVMI) Q3 2026 earnings summary

Executive summary

• Record Q3 revenue of $287.8M, up 28% YoY and 13% QoQ; GAAP net income was $90.0M and non-GAAP net income was $98.4M.

• Record profitability and Q4 guidance support FY26 revenue above $1B, reaching the milestone a year ahead of plan.

• Record memory and advanced-packaging results, strong logic demand, and customer investment visibility supported confidence in capturing technology transitions.

Financial highlights

• Q3 GAAP operating expenses were $73.3M, up from $63.6M YoY; non-GAAP operating expenses were $68M.

• Q3 GAAP diluted EPS was $2.64 and non-GAAP diluted EPS was $2.86, both above the high end of guidance.

• Q3 free cash flow was $132M; 9M free cash flow totaled ~$206M. Q3 operating cash flow was $138.1M and 9M operating cash flow was $219.1M.

• Q3 revenue was $287.8M versus $224.6M a year earlier; 9M revenue was $778.1M versus $658.0M.

Outlook and guidance

• Q4 2026 revenue guidance is $305M–$315M; diluted EPS guidance is $2.78–$2.93 GAAP and $3.03–$3.18 non-GAAP.

• Q4 midpoint assumptions include gross margin of ~57% GAAP and ~59% non-GAAP, and operating expenses of ~$78M GAAP and ~$72M non-GAAP.

• H2 2026 revenue is expected to grow more than 33% YoY; FY26 revenue is expected to exceed $1B, with more linear QoQ growth anticipated in 2027.