Logotype for Cohu Inc

Cohu (COHU) investor relations material

Cohu Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Cohu Inc
Q2 2025 earnings summary31 Jul, 2025

Executive summary

  • Q2 2025 net sales reached $107.7 million, up from $96.8 million in Q1 2025 and $104.7 million in Q2 2024, with orders up 26% sequentially, led by mobile and AI-based computing.

  • Test cell utilization improved by 3 points quarter-over-quarter to 75%, supporting demand flexibility and manufacturing transition to Asia.

  • Secured a $28 million design-win order for Eclipse handler in mobile and automotive, shipping through Q4 2025, and a first system order in India for silicon carbide test.

  • Completed the acquisition of Tignis, Inc. for $36.6 million, expanding AI analytics capabilities.

  • Launched new products including Eclipse handler, PD3x instrument, and advanced test solutions for OLED and precision analog.

Financial highlights

  • Q2 2025 net sales: $107.7 million (up 2.8% year-over-year); recurring revenue comprised 63% of total.

  • Q2 2025 gross margin: 43.7% GAAP, 44.4% non-GAAP; adjusted EBITDA margin: 3.6%.

  • Q2 2025 GAAP net loss: $16.9 million; non-GAAP net income: $0.7 million ($0.02 per share).

  • Cash and investments at quarter-end: $209.4 million, up $8.6 million, with $16 million in operating cash flow.

  • R&D expense for Q2 2025: $23.2 million (21.5% of sales); SG&A expense: $29.9 million (27.7% of sales).

Outlook and guidance

  • Q3 2025 sales expected at $125 million +/- $7 million, a 16% sequential increase, with gross margin projected at 44%.

  • Q3 operating expenses expected at $50 million, including $2 million for R&D prototype materials.

  • Q3 tax provision to include a one-time $15 million true-up due to new R&D capitalization rules.

  • Management expects $2 million in quarterly cost savings from restructuring by year-end 2025.

  • Q4 expected to see a mid-single-digit seasonal revenue pullback; 2026 outlook optimistic with continued market recovery.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Cohu earnings date

Logotype for Cohu Inc
Q3 202529 Oct, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Cohu earnings date

Logotype for Cohu Inc
Q3 202529 Oct, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Cohu, Inc. provides semiconductor test equipment and services. The company's test and inspection services consist of test fixtures and probe card assemblies, microelectromechanical systems-based test handler products, MEMS component handling systems and post probe/leveling systems, MEMS burn-in/test system products, as well as wafer-level MEMS component test products. Cohu, Inc. was incorporated in 1947 and is headquartered in Poway, California.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage