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Share Repurchase Authorization
9 Months Ended
Sep. 30, 2023
Share Repurchase Program [Abstract]  
Share Repurchase Authorization

NOTE 15. Share Repurchase Authorization

In November 2020, the Onto Innovation Board of Directors approved a share repurchase authorization, which allows the Company to repurchase up to $100,000 worth of shares of its common stock. Repurchases may be made through both public market and private transactions from time to time with shares purchased being subsequently retired. During the three and nine month periods ended September 30, 2023, the Company repurchased 0 and 46 shares of its common stock, respectively. The

amount paid to repurchase the shares in excess of par value, including transaction costs, is recorded directly as a decrease to additional paid-in capital and accumulated earnings. At September 30, 2023, there was $31,577 available for future share repurchases under this share repurchase authorization.