Group 1: Earnings Performance - Cohu reported quarterly earnings of $0.02 per share, exceeding the Zacks Consensus Estimate of a loss of $0.02 per share, representing an earnings surprise of +200.00% [1] - The company posted revenues of $107.68 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.59% and showing an increase from $104.7 million year-over-year [2] - Over the last four quarters, Cohu has surpassed consensus EPS estimates two times and topped consensus revenue estimates twice [2] Group 2: Stock Performance and Outlook - Cohu shares have declined approximately 28.9% since the beginning of the year, contrasting with the S&P 500's gain of 8.2% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.05 on revenues of $116.5 million, and for the current fiscal year, it is $0.11 on revenues of $435.6 million [7] Group 3: Industry Context - The Electronics - Manufacturing Machinery industry, to which Cohu belongs, is currently ranked in the bottom 25% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Cohu's stock performance [5][6]

Cohu (COHU) Q2 2025 Earnings Call July 31, 2025 04:30 PM ET Speaker0Good day, and thank you for standing by. Welcome to Cohu's Second Quarter twenty twenty five Financial Results Conference Call. At this time, all participants are in a listen only mode. After the speakers' 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, pl ...

Financial Performance - Q2'25 revenue reached $107.7 million[8, 15], reflecting a year-over-year and quarter-over-quarter increase[23] - Non-GAAP gross margin for Q2'25 was 44.4%[9, 22], compared to 44.2% in Q1'25[9, 22] - Adjusted EBITDA for Q2'25 was 3.6%[10, 22], an increase from -2.0% in Q1'25[10, 22] - Q3'25 revenue is projected to be $125 million +/- $7 million[27], representing an approximate 16% increase compared to Q2'25[29] - The company's cash and investments increased to $209 million in Q2'25[24], up from $201 million in Q1'25[24] Business Highlights - Orders increased by 26% quarter-over-quarter, primarily driven by the Mobile end-market[13] - Recurring revenue accounted for approximately $68 million of the Q2'25 revenue[16], representing 63% of the total revenue[15] - Systems revenue was approximately $40 million in Q2'25[16] - The company estimates test cell utilization increased by 3 percentage points quarter-over-quarter to 75%[11]

Exhibit 99.1 COHU, INC. 12367 CROSTHWAITE CIRCLE POWAY, CA 92064 FAX (858) 848-8185 PHONE (858) 858-8100 www.cohu.com Cohu Reports Second Quarter 2025 Results POWAY, Calif., July 31, 2025 – Cohu, Inc. (NASDAQ: COHU), a global supplier of equipment and services optimizing semiconductor manufacturing yield and productivity, today reported fiscal 2025 second quarter net sales of $107.7 million and GAAP loss of $16.9 million or $0.36 per share. Net sales for the first six months of 2025 were $204.5 million and ...

© Cohu, Inc. All rights reserved. Page 1 Cautionary Statement Regarding Forward-Looking Statements COHU INVESTOR PRESENTATION Forward-Looking Statements: Certain statements contained in this presentation may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including savings or value from higher yield or increasing productivity; systems installed base statements and any related financial results; assessments regarding market position fo ...

Group 1: Earnings Performance - Cohu reported a quarterly loss of $0.02 per share, significantly better than the Zacks Consensus Estimate of a loss of $0.16, representing an earnings surprise of 87.50% [1] - The company posted revenues of $96.8 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.21% and down from $107.61 million year-over-year [2] - Over the last four quarters, Cohu has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Group 2: Stock Performance and Outlook - Cohu shares have declined approximately 40.1% since the beginning of the year, compared to a decline of 5.3% for the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is -$0.08 on revenues of $101.2 million, and for the current fiscal year, it is $0.02 on revenues of $430.3 million [7] - The estimate revisions trend for Cohu is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Group 3: Industry Context - The Electronics - Manufacturing Machinery industry, to which Cohu belongs, is currently in the bottom 5% of over 250 Zacks industries, suggesting a challenging environment [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Cohu's stock performance [5]

Cohu (COHU) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Company Participants Jeffrey Jones - VP, Finance & CFOLuis Müller - President, CEO & Board MemberBrian Chin - DirectorDavid Duley - Managing PrincipalCraig Ellis - Director of ResearchRobert Mertens - Equity Research Associate Conference Call Participants Charles Shi - Senior AnalystTyler Burmeister - Equity Research Analyst Operator Good day, and thank you for standing by. Welcome to Cohu's First Quarter twenty twenty five Financial Results Call. A ...

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was approximately $97 million, with a non-GAAP gross margin of about 44% [5][12] - Non-GAAP net loss for Q1 was approximately $800,000, resulting in a non-GAAP EPS loss of $0.02 [13] - Cash and investments decreased by $61 million during Q1, primarily due to acquisitions and share repurchases [14] Business Line Data and Key Metrics Changes - Revenue was split 63% recurring and 37% systems, with systems revenue increasing in automotive and consumer segments but declining in computing, industrial, and mobile [6][12] - Recurring orders increased by 28% quarter over quarter, indicating strong non-capital equipment revenue streams [7] Market Data and Key Metrics Changes - Test cell utilization was down to 72% in March, with expectations for improved accuracy in segmenting utilization by market in the future [7][11] - The automotive market is showing signs of recovery, with expectations for utilization to increase gradually [67] Company Strategy and Development Direction - The company implemented a restructuring program to reduce manufacturing and operating expenses, with benefits expected to start in Q2 2025 [5][6] - Focus on expanding into new market segments and enhancing technology portfolio, particularly in AI process monitoring solutions [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about business prospects due to design wins and increased recurring orders, with no significant changes in customer buying patterns due to tariffs [11][41] - The second quarter is expected to see a revenue increase of approximately 10% quarter over quarter, with gross margin forecasted at around 45% [15] Other Important Information - The company has repurchased approximately 4 million shares for about $117 million, with $23 million remaining for future buybacks [14] - The integration of the recently acquired Tignis is progressing well, with increased customer interest [50] Q&A Session Summary Question: How much of the $9 million revenue increase in Q2 guidance is from recurring revenue versus HBM inspection shipments? - Approximately half of the increase is from recurring revenue and half from systems [20] Question: Does the multi-unit order for inspection increase the revenue target for the full year? - Projecting about $8 million of revenue in HBM this year, with discussions ongoing with a second customer [21][22] Question: How do recurring orders connect with equipment demand? - An increase in recurring orders is expected to lead to improved utilization, which may indicate future capital equipment demand [24][25] Question: In which segments is the pickup in recurring orders occurring? - The recurring order pickup is predominantly in the mobile segment, but it is fairly concentrated among a small number of customers [28][29] Question: What is the expected revenue opportunity from the power probe card design win? - The opportunity is about $2 million per year per customer, with a fraction expected this year due to timing [32] Question: How is the automotive market expected to perform? - The automotive market is expected to recover slowly, with utilization and recurring orders anticipated to increase [67]

Q1'25 FINANCIAL RESULTS May 1, 2025 © Cohu, Inc. All rights reserved. Page 1 Cautionary Statement Regarding Forward-Looking Statements Forward-Looking Statements: Certain statements contained in this presentation may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding design wins, new product introductions or new market opportunities; impact of recurring orders and/or revenue; impacts due to restructuring ac ...

[Q1 2025 Financial Highlights](index=1&type=section&id=Cohu%20Reports%20First%20Quarter%202025%20Results) [Q1 2025 Performance Summary](index=1&type=section&id=Q1%202025%20Performance%20Summary) Cohu reported Q1 2025 net sales of **$96.8 million**, a GAAP net loss of **$30.8 million**, and a non-GAAP net loss of **$0.8 million**, with **$200.8 million** in cash and investments Q1 2025 Financial Performance Overview | Metric (in millions, except per share) | Q1 FY 2025 | Q4 FY 2024 | Q1 FY 2024 | | :--- | :--- | :--- | :--- | | **GAAP Results** | | | | | Net Sales | $96.8 | $94.1 | $107.6 | | Net Loss | $(30.8) | $(21.4) | $(14.6) | | Net Loss per Share | $(0.66) | $(0.46) | $(0.31) | | **Non-GAAP Results** | | | | | Net Income (Loss) | $(0.8) | $(7.1) | $0.6 | | Net Income (Loss) per Share | $(0.02) | $(0.15) | $0.01 | - Total cash and investments at the end of Q1 2025 were **$200.8 million**, with the company repurchasing **432,288 shares** for approximately **$8.6 million** during the quarter[3](index=3&type=chunk) - Key operational highlights for Q1 2025 include revenue of **$96.8 million** with approximately **63%** recurring, a non-GAAP gross margin of **44.2%**, and a **28% increase** in recurring orders quarter-over-quarter[5](index=5&type=chunk) [Business Outlook and Management Commentary](index=1&type=section&id=Business%20Outlook%20and%20Management%20Commentary) Management expressed optimism regarding design-wins and customer expansion, forecasting Q2 2025 sales in the range of **$106 million +/- $7 million** - CEO Luis Müller highlighted multiple design-wins, customer expansion for testers, handlers, and inspection systems, and new customer engagements for Tignis AI process monitoring software[4](index=4&type=chunk) - Cohu expects second quarter 2025 sales to be in a range of **$106 million +/- $7 million**[4](index=4&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) [Consolidated Statements of Operations](index=5&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) Q1 2025 net sales decreased to **$96.8 million**, with loss from operations widening to **$27.3 million** and net loss reaching **$30.8 million**, including **$6.6 million** in restructuring charges Consolidated Statements of Operations (in thousands) | Metric | Three Months Ended Mar 29, 2025 | Three Months Ended Mar 30, 2024 | | :--- | :--- | :--- | | Net sales | $96,797 | $107,614 | | Loss from operations | $(27,326) | $(17,973) | | Net loss | $(30,804) | $(14,635) | | Diluted loss per share | $(0.66) | $(0.31) | - The company recorded restructuring charges of **$6.6 million** in Q1 2025, compared to a negligible amount in Q1 2024[14](index=14&type=chunk) - The results for the quarter ended March 29, 2025 include the operations of Tignis, Inc., which was acquired on January 7, 2025[15](index=15&type=chunk) [Condensed Consolidated Balance Sheets](index=6&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of March 29, 2025, total assets were **$975.5 million**, with cash and investments at **$200.8 million**, impacted by the **$34.9 million** Tignis acquisition Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | March 29, 2025 | December 30, 2024 | | :--- | :--- | :--- | | Cash and investments | $200,808 | $262,092 | | Total current assets | $478,762 | $534,307 | | Goodwill | $272,598 | $234,639 | | Total assets | $975,537 | $999,415 | | Total current liabilities | $92,024 | $85,184 | | Total liabilities & stockholders' equity | $975,537 | $999,415 | - On January 7, 2025, the Company made a cash payment of **$34.9 million**, net of cash received, to acquire Tignis, Inc., which impacted the cash balance[16](index=16&type=chunk) [Non-GAAP Financial Measures & Reconciliations](index=3&type=section&id=Non-GAAP%20Financial%20Measures) [Explanation of Non-GAAP Measures](index=3&type=section&id=Use%20of%20Non-GAAP%20Financial%20Information) Cohu uses non-GAAP measures to provide supplemental operational performance insights by excluding items like share-based compensation, amortization, and restructuring costs - Non-GAAP measures exclude charges and related tax effects for share-based compensation, amortization of purchased intangible assets, restructuring costs, acquisition-related costs, and other specific items[8](index=8&type=chunk) - Management uses non-GAAP measures for operational decision-making, forecasting, determining executive compensation, and comparing performance to its annual operating plan[9](index=9&type=chunk) [Reconciliation of GAAP to Non-GAAP Results](index=7&type=section&id=Supplemental%20Reconciliation%20of%20GAAP%20Results%20to%20Non-GAAP%20Financial%20Measures%20(Unaudited)) Q1 2025 GAAP net loss of **$30.8 million** was reconciled to a non-GAAP net loss of **$0.8 million**, primarily by excluding amortization, restructuring, and share-based compensation Q1 2025 Reconciliation of GAAP to Non-GAAP Net Loss (in thousands) | Description | Amount | | :--- | :--- | | **Net loss - GAAP basis** | **$(30,804)** | | Share-based compensation | $6,230 | | Amortization of purchased intangible assets | $9,852 | | Restructuring charges | $6,628 | | Other adjustments | $(1,168) | | Tax effect of non-GAAP adjustments | $8,476 | | **Net loss - non-GAAP basis** | **$(786)** | [Supplemental Reconciliations (Gross Profit & EBITDA)](index=9&type=section&id=Supplemental%20Reconciliation%20of%20GAAP%20Results%20to%20Non-GAAP%20Financial%20Measures%20(Unaudited)%202) Q1 2025 non-GAAP gross margin was **44.2%**, with Adjusted EBITDA at negative **$1.9 million**, reconciled from a GAAP net loss of **$30.8 million** Gross Profit Margin Reconciliation | Metric | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | GAAP gross profit | 43.7% | 41.9% | 45.8% | | Non-GAAP gross profit | 44.2% | 41.8% | 46.0% | Q1 2025 Adjusted EBITDA Reconciliation (in thousands) | Description | Amount | | :--- | :--- | | **Net loss - GAAP Basis** | **$(30,804)** | | Income tax provision | $4,838 | | Interest expense (net) | $(1,415) | | Amortization & Depreciation | $13,802 | | Other non-GAAP adjustments | $11,690 | | **Adjusted EBITDA** | **$(1,898)** | [Forward-Looking Statements and Other Information](index=3&type=section&id=Forward%20Looking%20Statements) [Forward-Looking Statements and Risk Factors](index=3&type=section&id=Forward%20Looking%20Statements%20and%20Risk%20Factors) The report contains forward-looking statements subject to risks including semiconductor industry cyclicality, intense competition, inflationary pressures, geopolitical instability, and customer concentration - Forward-looking statements are based on current beliefs and assumptions and are not guarantees of future performance, including projections, new products, and market growth[10](index=10&type=chunk) - The company faces numerous risks, including the seasonal, cyclical, and unpredictable nature of the semiconductor industry, intense competition, inflationary pressures, geopolitical instability, and reliance on a limited number of customers[11](index=11&type=chunk)