Q1 2026 Cohu Inc Earnings Call Transcript

Apr 30, 2026 / 08:30 PM GMT

Release Date Price: €40.13 (+5.74%)

Transcript 10-Q8-K

Key Points

Positve

Cohu Inc (COHU) reported a strong start to 2026 with orders up 57% year-over-year, driven by improved semiconductor market conditions and increased relevance of their technology portfolio.
The company has identified a $750 million opportunity pipeline in the computing segment, with $650 million in test handlers and $100 million in HBM inspection.
Cohu Inc (COHU) increased its high-performance computing revenue outlook for 2026 to approximately $80 to $100 million, reflecting strong customer engagement.
The company secured significant orders in its test handler business, with orders up 54% year-over-year, including major wins in AI data center applications.
Cohu Inc (COHU) is experiencing rapid growth in its inspection and metrology business, with orders up 64% year-over-year and a forecasted revenue growth of 80% year-over-year for its NEON HBM platform.

Negative

Operating expenses were higher than guidance at $55 million, reflecting increased spending to support high-performance compute opportunities.
Gross margin is expected to face headwinds in the second half of 2026, with projections to end the year in the mid-40% range.
The company is incurring higher initial costs to ramp the Eclipse supply chain and production, impacting gross margins.
Cohu Inc (COHU) faces challenges in managing lead times for thermal handlers, with a current cycle time of about 14 weeks.
The company did not complete any stock repurchases during the quarter, despite having $489 million in cash and investments.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

COHU.OQ - Cohu Inc
Q1 2026 Cohu Inc Earnings Call
Apr 30, 2026 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, and thank you for standing by. Welcome to COHU's First Quarter 2026 Financial Results Conference Call.

At this time, all participants are in a listen-only mode.

After the speaker's presentation, there will be a question-and-answer session.

To ask a question during the session, you'll need to press *11 on your telephone. You will then hear an automated message advising, Your hand is raised. To withdraw your question, please press *11 again.

Please be advised that today's conference is being recorded.

I'd now like to hand the conference over to Jeff Jones, Chief Financial Officer. Please go ahead.

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