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Dec 27, 2025
Cohu Q4 2025 Earnings Report
Cohu reported its financial results for the fourth quarter and full fiscal year ended December 27, 2025.
Key Takeaways
Cohu delivered a strong fourth quarter with revenue up 30% year-over-year, driven by improving market fundamentals and increased test cell utilization. The company also saw significant growth in recurring revenue.
Full year 2025 revenue reached $453.0 million, marking a 13% increase year-over-year.
Fourth quarter revenue was $122.2 million, a 30% increase compared to the same period last year.
Fourth quarter recurring revenue grew 25% year-over-year, indicating strong demand across services and solutions.
Estimated test cell utilization increased to 76% in December, supporting improved market fundamentals.
Forward Guidance
Cohu expects first quarter 2026 sales to be in the range of $122 million +/- $7 million, indicating a stable outlook.
Positive Outlook
- Design-win momentum remains robust across various sectors.
- Strong demand in automotive ADAS, power devices, and computing AI.
- Continued growth in HBM inspection metrology solutions.
- Anticipated sales range of $122 million +/- $7 million for Q1 2026 suggests stability.
- Improving market fundamentals are expected to continue.
Challenges Ahead
- The guidance range includes potential downside, indicating some uncertainty.
- Market conditions could shift, impacting actual sales.
- Competitive pressures in the semiconductor industry may affect performance.
- Global economic factors could influence customer demand.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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