Onto Innovation designs, manufactures, and sells process control equipment for the semiconductor industry. Its tools are used by chipmakers and packaging manufacturers to measure, inspect, and control semiconductor devices during fabrication. Onto's two core product areas are metrology systems — which measure physical and material properties like critical dimensions, film thickness, and 3D feature geometry — and inspection systems, which detect surface defects, cracks, and voids on wafers and advanced packaging substrates. The flagship Atlas product line performs optical critical dimension metrology down to 2nm and below, while the Dragonfly family handles macro defect inspection, and the 3Di technology performs 3D bump metrology in advanced packaging. Onto also sells JetStep lithography systems for advanced packaging, process control and yield management software, and materials characterization systems. Revenue is split roughly across advanced packaging and specialty devices (~50%), advanced nodes (~31%), and software and services (~19%). Onto sells capital equipment directly to customers globally, with revenue recognized on tool delivery and acceptance — there is no meaningful recurring subscription revenue. Key revenue drivers include technology node transitions at leading logic and memory chipmakers, advanced packaging volumes driven by AI chip demand, and new tool qualifications that expand Onto's share of a customer's process control spend. Onto has reduced China exposure to under 3% of revenue following U.S. export restrictions. Near-term growth is focused on AI-driven advanced packaging demand, gate-all-around logic transitions, and the recently acquired Semilab, which adds surface charge and infrared materials characterization capabilities.