Nova Ltd. (NASDAQ:NVMI) Q4 2023 Earnings Conference Call February 15, 2024 8:30 AM ET

Company Participants

Miri Segal - Chief Executive Officer, MS-IR LLC

Gaby Waisman - President and CEO

Dror David - Chief Financial Officer

Conference Call Participants

Vivek Arya - Bank of America Securities

Charles Shi - Needham & Company

Operator

Good day. And welcome to the Nova Limited Fourth Quarter 2023 Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions]

Please note, the event is being recorded. And now, I would like to turn the conference over to Miri Segal. Please, go ahead.

Miri Segal

Thank you, Operator, and good day to everybody. I would like to welcome all of you to Nova’s fourth quarter and full year 2023 financial results conference call. With us on the line today are Gaby Waisman, President and CEO; and Dror David, CFO.

Before we begin, may I remind our listeners that certain information provided on this call may contain forward-looking statements and the Safe Harbor statement outlined in today’s earnings release also pertains to this call. If you have not received a copy of the release, please view it in the Investor Relations section of the company’s website.

Gaby will begin the call with the business update, followed by Dror with an overview of the financials. We will then open the call for the question-and-answer session.

I’ll now turn the call over to Gaby Waisman, Nova’s President and CEO. Gaby, please go ahead.

Gaby Waisman

Thank you, Miri, and thank you all for joining us today. I will start the call today by summarizing our fourth quarter and full year performance highlights. Following my commentary, Dror will review the quarterly and annual financial results in detail.

Nova delivered a robust quarter, exceeding the top end of our guidance for revenue and profit, with GAAP and non-GAAP EPS reaching an all-time high, concluding the fiscal year on a higher note than initially expected.

Nova’s performance remains steadfast, showcasing the strengths of our diversified and agile business model. We persist with our long-term strategic plans to solidify our position and seize new opportunities across customers, markets and technologies.

Nova is uniquely positioned to accelerate its market adoption in hybrid bonding, as well as high-bandwidth memory and to capitalize on the transition to gate-all-around through our strong stance in advanced logic manufacturing. Looking forward, we witness encouraging trends across our key growth drivers that we expect to steer us to a path of growth and outperformance in 2024.