Luis Muller

“We delivered a strong quarter with sales of $149 million, up 38% year-over-year, and recurring revenue of approximately 53% of total. These results reflect solid execution across the company and continued customer adoption of our solutions.”

“We started the year with strong momentum across multiple product lines with orders up 57% year-over-year, reflecting both improved semiconductor market conditions and the increasing relevance of our technology portfolio across AI and high-performance compute applications.”

“I'm pleased to share our latest results and provide guidance for Q4. First off, let's talk about some highlights. Recurring revenue continued to grow for the third consecutive quarter, driven by strength in interface solutions and test handler spares.”

“First quarter 2025 results were in line with guidance, with revenue approximately $97 million and non-GAAP gross margin approximately 44%. As previously announced, we implemented a restructuring program in late February to reduce manufacturing and operating expenses through this year.”

“Full year 2024 revenue was about $402 million as Cohu's main market segments are crossing the chasm of a downturn. On the other hand, the full year non-GAAP gross margin of 45% demonstrates the value of selling differentiated products and optimizing our manufacturing cost structure.”