On this page of StockholderLetter.com we present the latest annual shareholder letter from SONO TEK CORP — ticker symbol SOTK. Reading current and past SOTK letters to shareholders can bring important insights into the investment thesis.
SONO   TEK Corporation
Making an impact on our
orl
Sono-Tek Corporation (Naadaq: SOTK) is a leading global ultrasonic coating equipment provider of engineering and manufacturing coating
equ ipment solutions for applying precision nano to micron thickness uniform thin films. Our equipment serves primarily the medical
device, microelectronics/ electronics, and alternative energy sectors. Products that are coated with Sono-Tek equipment are making
an impact on our lives every day, from lifesaving medical devices to green hydrogen production to protect and preserve our environment.
2

Left page: A Wide Track
wide area nozzle array
coating system used in
solar cell manufacturing.
8

Right page: Interior view
of a NovoCoat multiaxis system, a pilot scale
customizable coating
solution suitable for a
myriad of applications.
3
To Our Shareholders
We are pleased to report that Sono-Tek's fiscal year 2024, which ended on February 29, 2024, was a record-breaking year. Our company experienced unprecedented success,
with renewed market activity, increased orders, and a backlog reaching the highest levels in our history. Our strategic focus on three major and expanding market segmentselectronics and semiconductors, clean energy technologies, and medical device coatings- has proven fruitful and is expected to power us through the foreseeable future.
The semiconductor manufacturing and clean energy coating applications sectors, now bolstered by substantial government funding and incentives, continue to accelerate
these already strong segments for us.
Our business is benefiting from three concurrent societal demands: Clean/ Green Energy is being driven by robust governmental actions and investments. while the
global transition towards sustainable energy sources such as wind, hydrogen, and solar is accelerating. Our thin film coating systems play a crucial role in various green
technologies, including advanced solar energy, carbon capture, and green hydrogen generation. While the long-term public support for this transition remains uncertain,
current market conditions present significant business opportunities for our systems. many of which will continue commercially regardless.
The next area of societal demand is Medical Technology, covering everything from implantable devices to diagnostic tools. These technologies require functional and
protective thin-film coatings for applications such as lubricity, anti-restenosis. blood testing, and COVID-19 diagnostics. As the global population ages and developing
countries seek similar healthcare advancements, we anticipate sustained growth in this sector, reinforcing Sono-Tek's long-term prospects.
The other major driver for our future business is the continued demand for faster and faster Semiconductors to serve and support artificial intelligence, cryptocurrency,
server farms. and advanced business and entertainment applications. We are fortunate to be working with both the current generation of chip manufacturers as well as
critical involvement as part of the supply chain for the fastest chips ever produced, contributing to the next phase of Moore's law evolution.
Beyond these primary sectors. there is much more growth potential for Sono-Tek's future as the demand for increased precision coatings continues and the reduction of
hazardous waste in manufacturing is prioritized. Our dedicated, professional team in Milton, New York, along with over thirty global distributors, stands ready to meet these
challenges and capitalize on the opportunities ahead.
We thank you for your continued support and look forward to sharing further successes in the future.
Sincerely,
R.i~!I~
Chris Coccio
Steve Harshbarger
Executive Chair
CEO & President
ALTERNATIVE ENERGY
FlexiCoat platform full line coating solution for the alternative energy sector.



.11 :i
Perovskite solar cell
Hydrogen production
Medical lab-on-a-chip
diagnostic device
MediCoat system for coating drug eluting balloon
catheters with anti-restenosis drug polymer solutions.
FlexiCoat system with pre- and post-load stations (left) and
SPT200 with wafer handler module (right). Both systems are
designed for coating semiconductor wafers with photoresist.



  I
Automated wafer handling system for high volume
photoresist coatings onto semiconductor wafers.
 • shareholder letter icon 7/25/2024 Letter Continued (Full PDF)
 • stockholder letter icon 7/20/2018 SOTK Stockholder Letter
 • stockholder letter icon 7/22/2019 SOTK Stockholder Letter
 • stockholder letter icon 7/23/2020 SOTK Stockholder Letter
 • stockholder letter icon 7/15/2021 SOTK Stockholder Letter
 • stockholder letter icon 7/18/2022 SOTK Stockholder Letter
 • stockholder letter icon 7/21/2023 SOTK Stockholder Letter
 • stockholder letter icon More "Electronic Equipment & Products" Category Stockholder Letters
 • Benford's Law Stocks icon SOTK Benford's Law Stock Score = 88


SOTK Shareholder/Stockholder Letter Transcript:

SONO   TEK Corporation
Making an impact on our
orl

Sono-Tek Corporation (Naadaq: SOTK) is a leading global ultrasonic coating equipment provider of engineering and manufacturing coating
equ ipment solutions for applying precision nano to micron thickness uniform thin films. Our equipment serves primarily the medical
device, microelectronics/ electronics, and alternative energy sectors. Products that are coated with Sono-Tek equipment are making
an impact on our lives every day, from lifesaving medical devices to green hydrogen production to protect and preserve our environment.
2


Left page: A Wide Track
wide area nozzle array
coating system used in
solar cell manufacturing.
8

Right page: Interior view
of a NovoCoat multiaxis system, a pilot scale
customizable coating
solution suitable for a
myriad of applications.
3

To Our Shareholders
We are pleased to report that Sono-Tek's fiscal year 2024, which ended on February 29, 2024, was a record-breaking year. Our company experienced unprecedented success,
with renewed market activity, increased orders, and a backlog reaching the highest levels in our history. Our strategic focus on three major and expanding market segmentselectronics and semiconductors, clean energy technologies, and medical device coatings- has proven fruitful and is expected to power us through the foreseeable future.
The semiconductor manufacturing and clean energy coating applications sectors, now bolstered by substantial government funding and incentives, continue to accelerate
these already strong segments for us.
Our business is benefiting from three concurrent societal demands: Clean/ Green Energy is being driven by robust governmental actions and investments. while the
global transition towards sustainable energy sources such as wind, hydrogen, and solar is accelerating. Our thin film coating systems play a crucial role in various green
technologies, including advanced solar energy, carbon capture, and green hydrogen generation. While the long-term public support for this transition remains uncertain,
current market conditions present significant business opportunities for our systems. many of which will continue commercially regardless.
The next area of societal demand is Medical Technology, covering everything from implantable devices to diagnostic tools. These technologies require functional and
protective thin-film coatings for applications such as lubricity, anti-restenosis. blood testing, and COVID-19 diagnostics. As the global population ages and developing
countries seek similar healthcare advancements, we anticipate sustained growth in this sector, reinforcing Sono-Tek's long-term prospects.
The other major driver for our future business is the continued demand for faster and faster Semiconductors to serve and support artificial intelligence, cryptocurrency,
server farms. and advanced business and entertainment applications. We are fortunate to be working with both the current generation of chip manufacturers as well as
critical involvement as part of the supply chain for the fastest chips ever produced, contributing to the next phase of Moore's law evolution.
Beyond these primary sectors. there is much more growth potential for Sono-Tek's future as the demand for increased precision coatings continues and the reduction of
hazardous waste in manufacturing is prioritized. Our dedicated, professional team in Milton, New York, along with over thirty global distributors, stands ready to meet these
challenges and capitalize on the opportunities ahead.
We thank you for your continued support and look forward to sharing further successes in the future.
Sincerely,
R.i~!I~
Chris Coccio
Steve Harshbarger
Executive Chair
CEO & President

ALTERNATIVE ENERGY
FlexiCoat platform full line coating solution for the alternative energy sector.



.11 :i
Perovskite solar cell
Hydrogen production
Medical lab-on-a-chip
diagnostic device
MediCoat system for coating drug eluting balloon
catheters with anti-restenosis drug polymer solutions.
FlexiCoat system with pre- and post-load stations (left) and
SPT200 with wafer handler module (right). Both systems are
designed for coating semiconductor wafers with photoresist.



  I
Automated wafer handling system for high volume
photoresist coatings onto semiconductor wafers.



shareholder letter icon 7/25/2024 Letter Continued (Full PDF)
 

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