Nova is like the Siemens Healthineers for chip manufacturing, providing advanced diagnostic and process control tools to ensure the health and quality of every chip.

Nova is like the Bosch for semiconductor foundries, delivering the precision measurement and control systems essential for making flawless chips.

Nova is like the Bureau Veritas for semiconductor fabrication, providing independent validation and critical inspection to ensure chips meet stringent quality standards.

• Dimensional Metrology Systems: These systems measure critical dimensions and shapes of patterns on semiconductor wafers during manufacturing.
• Materials Metrology Systems: These systems measure film thickness, material properties, and composition on semiconductor wafers.
• Integrated Metrology Solutions: These are real-time, in-line metrology tools integrated into semiconductor manufacturing process equipment for immediate feedback and control.
• Yield Management and Process Control Software: Software platforms that analyze metrology data to optimize semiconductor manufacturing processes and improve wafer yield.

Nova (NVMI) Major Customers

Nova (symbol: NVMI) operates primarily within a Business-to-Business (B2B) model, providing advanced metrology and process control solutions to companies in the semiconductor manufacturing industry. Due to the highly competitive and sensitive nature of this industry, Nova does not publicly disclose the specific names of its individual major customers in its financial filings or investor communications.

However, based on its market focus and the types of sophisticated solutions it offers, Nova's major customers are understood to be the leading global players in semiconductor manufacturing. These generally fall into the following categories, and would include many of the world's largest semiconductor companies:

• Leading-edge Semiconductor Foundries: Companies that specialize in manufacturing integrated circuits for other fabless design companies. These foundries operate at the forefront of semiconductor technology and rely heavily on advanced process control for high-yield and high-performance production.
  • Example: Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE: TSM)
  • Example: GlobalFoundries (NASDAQ: GFS)
• Integrated Device Manufacturers (IDMs): Companies that design, manufacture, and sell their own integrated circuits, encompassing a wide range of products including microprocessors, logic devices, and system-on-chips.
  • Example: Intel Corporation (NASDAQ: INTC)
  • Example: Samsung Electronics Co., Ltd. (KRX: 005930 / OTCPK: SSNLF)
• Memory Manufacturers: Companies focused on the production of various types of memory chips (e.g., DRAM, NAND flash), which are essential components for a vast array of electronic devices from smartphones to data centers.
  • Example: Micron Technology, Inc. (NASDAQ: MU)
  • Example: SK Hynix Inc. (KRX: 000660)

Gaby Waisman, President & Chief Executive Officer

Gaby Waisman was appointed President and Chief Executive Officer of Nova Ltd. effective March 31, 2023. He previously served as the company's Chief Business Officer since 2016. Mr. Waisman brings over 20 years of management experience in global public companies, with executive roles in Israel, the U.S., and Asia. Before joining Nova, he served as President at Orbotech West (Orbotech Inc., USA) from May 2011 to July 2013, and President at Orbotech Pacific (Orbotech LTD, Hong Kong) from August 2013 to April 2016. His career also includes positions as Strategic Marketing Director EMEA, Vice President of Strategic Accounts, General Manager of Western Europe, and Managing Director of Asia-Pacific at Alvarion, as well as EMEA Regional Sales and Marketing Director (Broadband Division) at Comverse.

Guy Kizner, Chief Financial Officer

Guy Kizner was promoted to Chief Financial Officer of Nova Ltd., effective July 1, 2024. He joined Nova in 2010 and has since held various financial leadership roles, including Financial Planning Analyst, Financial Planning and Analysis Manager, Director of FP&A, and Corporate VP of Finance. Prior to his tenure at Nova, Mr. Kizner worked as an Economist at IAI - Israel Aerospace Industries from 2007 to 2008 and at Delek Group from 2009 to 2010. He holds a Bachelor's degree in Economics and an MBA from The College of Management Academic Studies, and a CPA degree in Accounting from Bar-Ilan University.

Eitan Oppenhaim, Executive Chairman of the Board

Eitan Oppenhaim was appointed Executive Chairman of the Board of Nova Ltd. effective March 31, 2023, transitioning from his role as President & Chief Executive Officer, which he held from 2013. During his time as CEO, Nova experienced accelerated growth and strengthened its market position across various industry segments, territories, and customers. He was also instrumental in the successful acquisitions of ReVera and ancosys, which diversified Nova's activities. Mr. Oppenhaim's career history includes leadership positions such as Executive Vice President of Global Business Group at Nova, Vice President and Europe General Manager of Alvarion Ltd., Vice President of Sales and Marketing of OptimalTest Ltd., and Vice President of Business Manager of the Flat Panel Displays division at Orbotech Ltd. He holds a BA in Economics from the University of Haifa and an MBA in Business Management Studies from Ben Gurion University.

Dr. Shay Wolfling, Chief Technology Officer

Dr. Shay Wolfling has served as Nova Ltd.'s Chief Technology Officer since 2011. In this role, he is responsible for driving the company's technological advancements and innovation, including spearheading cutting-edge research and development projects. His previous experience includes roles as an R&D Manager at KLA-Tencor and Icos Vision Systems, and he was also a Founder and Vice President of R&D at Nano Or Technologies. Dr. Wolfling holds a PhD in Physics from The Hebrew University of Jerusalem.

Gabi Sharon, Chief Operating Officer

Gabi Sharon serves as the Chief Operating Officer of Nova Ltd. He was appointed Corporate Vice President of Operations in 2006, where he oversees Supply Chain, Quality, Engineering, IT, and Infrastructures. Mr. Sharon established Nova's global Customer Support organization and led the development and successful market launch of the NovaScan 3090/Next product line, facilitating its initial entry into the Copper CMP market. Before joining Nova, he was a Marketing Project Manager at ECI Telecom, managing backbone telecommunication network projects across Asia. Mr. Sharon earned a B.Sc. in Computer Engineering from Northeastern University and an M.Sc. in Technology Management from Polytechnic University.

Nova (NVMI) operates in the semiconductor manufacturing industry, providing advanced metrology solutions for process control. Their main products encompass material, optical, and chemical metrology tools, including in-line optical and x-ray stand-alone systems, and integrated optical metrology systems. These solutions are critical for various stages of semiconductor fabrication, serving the logic, foundry, memory, and advanced packaging sectors.

The addressable market for Nova's metrology solutions is estimated to be a global market of $20 billion, with a projected compound annual growth rate (CAGR) of 6% through 2030. This market size was further expanded by Nova's acquisition of Sentronics metrology GmbH, which operates in the backend wafer measurement tools segment. The backend metrology segment itself is experiencing an 8% annual growth rate.

• Strong Demand in Advanced Logic and Memory: Nova anticipates continued growth from advanced logic nodes, particularly driven by Gate-All-Around (GAA) processes, and from the memory sector, specifically advanced DRAM and High Bandwidth Memory (HBM). The company reported record sales in both memory and advanced logic devices in Q3 2025, attributing this to strong demand for its advanced metrology solutions. Nova's management expects this momentum to continue into 2026.
• Growth in Advanced Packaging: The advanced packaging market is a significant growth driver, with forecasts projecting double-digit growth. Nova's strategic focus on advanced packaging and metrology solutions has already led to a doubling of advanced packaging revenue in Q4 2024, contributing 15% to product revenue. The company's advanced tools are being adapted for both frontend and backend (advanced packaging) applications.
• Increased AI-Driven Demand: The escalating demand for AI chips is a strong catalyst for Nova's solutions. Management expects the rising complexity of AI-driven semiconductors to heighten process control challenges, thereby increasing the need for Nova's advanced metrology and inspection solutions. The company believes its portfolio is well-positioned to address the need for higher yields and reliability in AI device manufacturing.
• Product Innovation and Competitive Positioning: Nova's unique X-ray, optical, and inline SIMS metrology tools enable in-depth material characterization and ultra-thin film measurement, allowing for rapid, automated material analysis. This "lab-to-fab" approach differentiates its products, enabling real-time process control and higher yield, which has contributed to an increase in market share from 20% in 2023 to 24.8% in 2024.
• Expansion of Manufacturing Capabilities: To support increasing demand, Nova has expanded its manufacturing capabilities, including the opening of a new production facility in Mannheim, Germany. This facility triples its capacity for advanced packaging optical metrology solutions, ensuring the company can meet future customer needs.

Share Repurchases

• In October 2020, Nova allocated approximately $10 million from a convertible notes offering to repurchase 170,910 of its ordinary shares.
• The proceeds from a $150 million convertible senior notes offering in October 2020 were partially designated for share repurchases, with up to approximately $20 million used to repurchase shares from certain note purchasers.

Share Issuance

• In October 2020, Nova completed an upsized private offering of $175 million in 0% Convertible Senior Notes due 2025, which are convertible into cash, ordinary shares, or a combination.
• In September 2025, Nova priced an upsized private offering of $650 million in 0.00% Convertible Senior Notes due 2030, with an option for initial purchasers to acquire an additional $100 million, bringing the total to $750 million. Capped call transactions were entered into to mitigate potential equity dilution from these notes.

Outbound Investments

• In November 2024, Nova announced an all-cash agreement to acquire Sentronics Metrology GmbH, a provider of wafer metrology tools for backend semiconductor fabrication, with the acquisition expected to close in the first quarter of 2025.
• In November 2021, Nova completed a $100 million cash acquisition of a German company to expand its position in the backend semiconductor industry.
• Proceeds from the $750 million convertible note offering in September 2025 are intended to fund growth initiatives and potential acquisitions.

Capital Expenditures

• Nova's capital expenditures were $17 million in 2024 and $17 million in 2023, following $21 million in 2022.
• Over the past five years, Nova substantially increased its capital deployment into operations.
• The primary focus of capital expenditures is on advanced research and development, expanding metrology solutions, and supporting global infrastructure investments in new semiconductor fabrication facilities.