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Dec 28, 2024
Cohu Q4 2024 Earnings Report
Cohu reported its fourth quarter 2024 financial results, with net sales of $94.1 million and a GAAP net loss of $21.4 million.
Key Takeaways
Cohu's fourth quarter 2024 net sales were $94.1 million, with a GAAP net loss of $21.4 million, or $0.46 per share. The non-GAAP net loss was $7.1 million, or $0.15 per share. Full year 2024 revenue was $401.8 million, with a GAAP net loss of $69.8 million.
Full year 2024 revenue reached $401.8 million.
Fourth quarter 2024 net sales were $94.1 million, with approximately 62% recurring revenue.
Fourth quarter gross margin was 41.9%, impacted by a $2.1 million inventory reserve charge.
Cohu acquired Tignis, Inc., an AI process control and analytics software provider, expanding its analytics offering.
Forward Guidance
Cohu expects first quarter 2025 sales to be in a range of $97 million +/- $7 million. The company aims to grow software revenue at an annual rate of 50% or more over the next three years.
Positive Outlook
- Expected Q1 2025 sales range of $97 million +/- $7 million.
- Expansion of analytics offering with Tignis acquisition.
- Opportunity to grow software revenue at an annual rate of 50% or more over the next three years.
- Focus on optimizing yield and productivity solutions for the industry.
- Sequential increase in systems revenue in Computing, Industrial, and Consumer segments.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- The report does not detail potential challenges in achieving the 50% software revenue growth target.
- No specific risks associated with the Tignis acquisition were outlined in the forward guidance.
Historical Earnings Impact
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