Shares of Nova Ltd (NVMI) soared over 9% in pre-market trading on Thursday, driven by the company's stellar fourth-quarter 2024 earnings results and an upbeat outlook for the first quarter of 2025.

For the fourth quarter ended December 31, 2024, Nova reported record quarterly revenue of $194.8 million, marking a 45% year-over-year increase and surpassing analysts' expectations of $187.6 million. The company's non-GAAP earnings per diluted share came in at $1.94, comfortably beating the consensus estimate of $1.84 and representing a 43% jump from the prior-year quarter.

Looking ahead, Nova provided an optimistic guidance for the first quarter of 2025. The company expects non-GAAP earnings per diluted share in the range of $2.00 to $2.16, surpassing analysts' projections of $1.88. Revenue for the quarter is anticipated to be between $205 million and $215 million, well above the consensus estimate of $194.1 million.

Nova's strong performance can be attributed to record sales across multiple product lines, including materials metrology, driven by the growing adoption of the company's solutions across market segments. Additionally, Nova reported record sales for advanced packaging processes, more than doubling revenues from that segment.