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Cohu Inc (COHU)
NASDAQ:COHU
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.03Last Year’s EPS
-0.02Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly positive outlook: strong sequential bookings and systems demand, solid recurring revenue (60% of Q4), multiple strategic design wins (Eclipse, HBM/Neon, Krypton, test interface wins), improving utilization across end markets, a strengthened cash position from a sizable convertible offering, and clear gross margin recovery guidance tied to higher volumes. Offsetting items are largely one-time or manageable: a material Q4 gross margin hit from inventory consolidation, a non-cash $5M tax reserve increase, higher reported debt from the convertible offering (with measures to limit dilution), and temporary customer concentration in Q4. Overall, the positive operational momentum and liquidity improvements outweigh the transitory financial charges and timing uncertainties.Company Guidance
Strong Recurring Revenue Mix
Recurring revenue represented ~60% of Q4 revenue and grew 4% sequentially and 25% year-over-year, demonstrating stability from consumables, service contracts and spares.
Significant Bookings and Orders Growth
Recurring bookings increased 34% quarter-over-quarter and systems demand rose 47% quarter-over-quarter. Full-year 2025 orders increased 29% year-over-year.
Revenue Growth — Q4 and Full Year
Q4 revenue was $122.2 million, up ~30% year-over-year. Full-year 2025 revenue was $453 million, up 13% year-over-year.
Design Wins and Product Momentum
Multiple notable wins in Q4: key transition win for test interface products at a leading analog/mixed-signal customer; first order for a high-performance thermal Eclipse handler for an AI device roadmap; multiunit order for a new handler targeting automotive and physical AI; HBM inspection order for engineering lab; first mixed-signal tester order at an analog/connectivity BU; Krypton inspection order (including PACE ML software subscription); bookings for tri-temperature handlers for power module test demand.
HBM (Neon) Traction
Exited 2025 with $11 million in HBM-related revenue and booked additional systems in Q4/January. Management forecasts HBM revenue of $15–$20 million for 2026, with shipments expected to be fairly linear through the year.
Backlog and Near-Term Convertibility
Approximately 70% of guided Q1 revenue was in backlog entering Q1, with the majority of remaining systems expected to ship in Q2 — supporting a near-term revenue ramp into mid-2026.
Improved Utilization and Market Signals
Estimated test serialization/utilization rose to 76% in December (compute 78%, automotive 75%), and recurring revenue increased sequentially for four quarters, indicating strengthening demand across compute, automotive and industrial end markets.
Cash Position and Liquidity Strengthened
Cash and investments increased by $286 million during Q4 to $484 million year-end, driven by net proceeds from an upsized convertible notes offering and operating cash generation.
Clear Gross Margin Upside at Higher Volumes
Management provided a roadmap for gross margin: Q1 ~45% (after one-time Q4 items), at ~$130M/quarter revenue GM expected ~46.7–46.8%, at ~$150M/quarter just under 48%, and a normalized run rate at ~$160M/quarter at ~48% GM.
COHU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
COHU Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $32.80 | $30.60 | -6.71% |
Oct 29, 2025 | $24.01 | $24.06 | +0.21% |
Jul 31, 2025 | $17.86 | $19.13 | +7.11% |
May 01, 2025 | $16.07 | $16.69 | +3.86% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Cohu Inc (COHU) report earnings?
Cohu Inc (COHU) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).
What is Cohu Inc (COHU) earnings time?
Cohu Inc (COHU) earnings time is at Apr 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is COHU EPS forecast?
COHU EPS forecast for the fiscal quarter 2026 (Q1) is 0.03.