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Side-by-side financial comparison of ONTO INNOVATION INC. (ONTO) and PicoCELA Inc. (PCLA). Click either name above to swap in a different company.
PicoCELA Inc. is the larger business by last-quarter revenue ($252.6M vs $218.2M, roughly 1.2× ONTO INNOVATION INC.). ONTO INNOVATION INC. runs the higher net margin — 12.9% vs -125.2%, a 138.1% gap on every dollar of revenue. ONTO INNOVATION INC. produced more free cash flow last quarter ($82.0M vs $-256.6M).
Onto Innovation Inc. is an American semiconductor company formed in 2019 from the merger of Rudolph Technologies, Inc. and Nanometrics Incorporated. It is a provider of process and process control equipment and software for microelectronic manufacturing industries.
PicoCELA Inc. is a global technology company specializing in low-power, high-reliability wireless connectivity solutions, including Wi-Fi HaLow modules and edge network infrastructure. It caters to industrial IoT, smart city, retail, and smart home segments, with a primary operational footprint across Asia, North America, and European markets.
ONTO vs PCLA — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $218.2M | $252.6M |
| Net Profit | $28.2M | $-316.2M |
| Gross Margin | 50.7% | — |
| Operating Margin | 10.9% | -114.8% |
| Net Margin | 12.9% | -125.2% |
| Revenue YoY | -13.5% | — |
| Net Profit YoY | -46.8% | — |
| EPS (diluted) | $0.57 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | $218.2M | — | ||
| Q2 25 | $253.6M | — | ||
| Q1 25 | $266.6M | $252.6M | ||
| Q4 24 | $263.9M | — | ||
| Q3 24 | $252.2M | — | ||
| Q2 24 | $242.3M | — | ||
| Q1 24 | $228.8M | — | ||
| Q3 23 | $207.2M | — |
| Q3 25 | $28.2M | — | ||
| Q2 25 | $33.9M | — | ||
| Q1 25 | $64.1M | $-316.2M | ||
| Q4 24 | $48.8M | — | ||
| Q3 24 | $53.1M | — | ||
| Q2 24 | $52.9M | — | ||
| Q1 24 | $46.9M | — | ||
| Q3 23 | $35.9M | — |
| Q3 25 | 50.7% | — | ||
| Q2 25 | 48.2% | — | ||
| Q1 25 | 53.7% | — | ||
| Q4 24 | 50.2% | — | ||
| Q3 24 | 54.1% | — | ||
| Q2 24 | 52.9% | — | ||
| Q1 24 | 51.7% | — | ||
| Q3 23 | 51.6% | — |
| Q3 25 | 10.9% | — | ||
| Q2 25 | 12.7% | — | ||
| Q1 25 | 23.7% | -114.8% | ||
| Q4 24 | 16.1% | — | ||
| Q3 24 | 21.0% | — | ||
| Q2 24 | 20.2% | — | ||
| Q1 24 | 18.7% | — | ||
| Q3 23 | 16.4% | — |
| Q3 25 | 12.9% | — | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | 24.0% | -125.2% | ||
| Q4 24 | 18.5% | — | ||
| Q3 24 | 21.0% | — | ||
| Q2 24 | 21.9% | — | ||
| Q1 24 | 20.5% | — | ||
| Q3 23 | 17.3% | — |
| Q3 25 | $0.57 | — | ||
| Q2 25 | $0.69 | — | ||
| Q1 25 | $1.30 | — | ||
| Q4 24 | $0.98 | — | ||
| Q3 24 | $1.07 | — | ||
| Q2 24 | $1.07 | — | ||
| Q1 24 | $0.94 | — | ||
| Q3 23 | $0.73 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $603.1M | $456.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.0B | $354.8M |
| Total Assets | $2.2B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $603.1M | — | ||
| Q2 25 | $217.5M | — | ||
| Q1 25 | $203.7M | $456.8M | ||
| Q4 24 | $212.9M | — | ||
| Q3 24 | $188.7M | — | ||
| Q2 24 | $172.6M | — | ||
| Q1 24 | $190.9M | — | ||
| Q3 23 | $206.6M | — |
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $1.9B | $354.8M | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $1.8B | — | ||
| Q3 23 | $1.7B | — |
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.1B | $1.2B | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.0B | — | ||
| Q3 23 | $1.9B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $83.4M | $-245.6M |
| Free Cash FlowOCF − Capex | $82.0M | $-256.6M |
| FCF MarginFCF / Revenue | 37.6% | -101.6% |
| Capex IntensityCapex / Revenue | 0.6% | 4.3% |
| Cash ConversionOCF / Net Profit | 2.95× | — |
| TTM Free Cash FlowTrailing 4 quarters | $261.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $83.4M | — | ||
| Q2 25 | $57.9M | — | ||
| Q1 25 | $92.0M | $-245.6M | ||
| Q4 24 | $56.0M | — | ||
| Q3 24 | $67.2M | — | ||
| Q2 24 | $65.3M | — | ||
| Q1 24 | $57.1M | — | ||
| Q3 23 | $60.3M | — |
| Q3 25 | $82.0M | — | ||
| Q2 25 | $44.2M | — | ||
| Q1 25 | $83.7M | $-256.6M | ||
| Q4 24 | $51.4M | — | ||
| Q3 24 | $59.2M | — | ||
| Q2 24 | $53.0M | — | ||
| Q1 24 | $50.2M | — | ||
| Q3 23 | $48.1M | — |
| Q3 25 | 37.6% | — | ||
| Q2 25 | 17.4% | — | ||
| Q1 25 | 31.4% | -101.6% | ||
| Q4 24 | 19.5% | — | ||
| Q3 24 | 23.5% | — | ||
| Q2 24 | 21.9% | — | ||
| Q1 24 | 21.9% | — | ||
| Q3 23 | 23.2% | — |
| Q3 25 | 0.6% | — | ||
| Q2 25 | 5.4% | — | ||
| Q1 25 | 3.1% | 4.3% | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 5.1% | — | ||
| Q1 24 | 3.0% | — | ||
| Q3 23 | 5.9% | — |
| Q3 25 | 2.95× | — | ||
| Q2 25 | 1.71× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.23× | — | ||
| Q1 24 | 1.22× | — | ||
| Q3 23 | 1.68× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ONTO
| Systems And Software Revenue | $173.8M | 80% |
| Parts Revenue | $23.9M | 11% |
| Service Revenue | $20.5M | 9% |
PCLA
| Revenue from product | $179.1M | 71% |
| Revenue from SaaS, Maintenance and others | $42.4M | 17% |
| Revenue from product – related party | $31.0M | 12% |
