• Onto Innovation average gross margin for 2023 was 52.81%, a 2.06% decline from 2022.
• Onto Innovation average gross margin for 2022 was 53.92%, a 1.7% decline from 2021.
• Onto Innovation average gross margin for 2021 was 53.02%, a 14.46% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.