Cohu | 10-Q: FY2025 Q2 Revenue Beats Estimate at USD 107.68 M

LB filings
2025.08.01 10:12
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Revenue: As of FY2025 Q2, the actual value is USD 107.68 M, beating the estimate of USD 106 M.

EPS: As of FY2025 Q2, the actual value is USD -0.36, beating the estimate of USD -0.385.

EBIT: As of FY2025 Q2, the actual value is USD -14.83 M.

Segment Revenue

  • Net Sales: $107.7 million for the three months ended June 28, 2025, compared to $104.7 million for the same period in 2024, representing a 2.8% increase. For the six months ended June 28, 2025, net sales were $204.5 million, a decrease from $212.3 million in 2024.

Operational Metrics

  • Gross Margin: 43.7% for the three months ended June 28, 2025, compared to 44.8% in 2024. For the six months ended June 28, 2025, gross margin was 43.7%, down from 45.3% in 2024.
  • Net Loss: $16.9 million for the three months ended June 28, 2025, compared to $15.8 million in 2024. For the six months ended June 28, 2025, net loss was $47.7 million, compared to $30.4 million in 2024.
  • Research and Development Expense: $23.2 million for the three months ended June 28, 2025, compared to $21.3 million in 2024. For the six months ended June 28, 2025, R&D expense was $46.3 million, compared to $43.7 million in 2024.
  • Selling, General and Administrative Expense: $29.9 million for the three months ended June 28, 2025, compared to $32.1 million in 2024. For the six months ended June 28, 2025, SG&A expense was $59.9 million, compared to $67.2 million in 2024.

Cash Flow

  • Operating Cash Flow: Net cash provided by operating activities was $5.9 million for the six months ended June 28, 2025.
  • Investing Cash Flow: Net cash used in investing activities was $34.7 million for the six months ended June 28, 2025.
  • Financing Cash Flow: Net cash used in financing activities was $1.0 million for the six months ended June 28, 2025.

Unique Metrics

  • Restructuring Charges: Total pretax charges of $6.6 million during the first six months ended June 28, 2025, related to the 2025 Restructuring Program.

Future Outlook and Strategy

  • Core Business Focus: Cohu is focusing on building a well-balanced and resilient business model, executing on customer design-wins, and developing innovative products. The company is optimistic about long-term prospects due to increasing semiconductor complexity and demand.
  • Non-Core Business: The acquisition of Tignis, Inc. is expected to expand Cohu’s analytics offerings to the semiconductor process control market, enhancing its data science capabilities.
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