Nova Ltd's stock surged 6.25% in pre-market trading on Thursday, following the release of its first-quarter financial results for fiscal year 2026.
The semiconductor metrology company reported record quarterly revenue of $235.3 million, a 6% increase from the previous quarter and exceeding analyst expectations of $227.44 million. Non-GAAP earnings per share came in at $2.33, beating the consensus estimate of $2.20. The strong performance was driven by record revenues from memory devices due to robust demand for advanced DRAM, alongside record sales of the Metrion platform and AncoScene chemical metrology solution.
Management provided an optimistic outlook for the second quarter, forecasting revenue between $245 million and $255 million and non-GAAP diluted EPS of $2.34 to $2.48. The better-than-expected results and positive guidance fueled investor optimism, leading to the significant pre-market gain.
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