Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 28, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4298 COHU, INC. (Exact name of registrant as specified in its charter) Delaware 95-1934119 (State or other jurisdict ...

Financial Data and Key Metrics Changes - Full year 2024 revenue was approximately $402 million, with a non-GAAP gross margin of 45% [8][21] - Q4 revenue was $94.1 million, within guidance, but gross margin was impacted by a $2.1 million inventory reserve charge, resulting in a gross margin of 41.8% [9][21] - Operating expenses for Q4 were lower than guidance at $45.3 million, leading to a non-GAAP operating loss of approximately $6 million [22] Business Line Data and Key Metrics Changes - Recurring revenue represented 62% of total revenue in Q4 and 65% for the full year 2024, indicating a stable revenue stream [20] - Systems revenue increased sequentially in computing, industrial, and consumer segments, but declined in automotive and mobile due to inventory corrections [10] - The company entered the memory and silicon carbide power semiconductor markets, expecting to generate $7 million in revenue from HBM inspection systems in 2025 [11][12] Market Data and Key Metrics Changes - Estimated test cell utilization at the end of December increased to 73%, with OSATs at 76% and IDMs at 70% [10] - Automotive and industrial markets are experiencing significant inventory corrections, with expectations of recovery in the second half of 2025 [56][68] Company Strategy and Development Direction - The company is focusing on aligning new products with compute applications, particularly in the data center market and AI at the EDGE [12][16] - Cohu aims to establish itself as a key player in AI-driven semiconductor manufacturing, with a projected annual growth rate of 50% or more for software revenue over the next three years [16] - The acquisition of Tignis is expected to enhance Cohu's software capabilities and expand its market reach [16][96] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by ongoing inventory corrections in the automotive and industrial sectors, predicting another two quarters of adjustment [56][57] - The company is optimistic about growth opportunities in data centers and AI applications, despite the current market conditions [55][56] - Q1 2025 revenue is guided to be approximately $97 million, impacted by customer requests to delay shipments [26] Other Important Information - Cash and investments decreased by $7 million during Q4, with a total of $262 million remaining on the balance sheet [24][25] - The company had no share repurchase activity in Q4, having repurchased approximately 915,000 shares for $27 million through the end of Q3 2024 [25] Q&A Session Summary Question: Revenue impact of new businesses - Management expects HBM to contribute about $7 million, silicon carbide about $5 million, and software around $1 million in 2025, totaling $25 million to $30 million from new drivers [38][39] Question: Utilization levels in automotive and industrial - Automotive and industrial markets are still digesting inventory, with expectations of recovery in the second half of 2025 [46][56] Question: Diamondx win details - The key parameter for winning the Diamondx business was cost of test, addressing various semiconductor applications [51] Question: Recovery in revenue line - Management is focusing on expanding penetration in high-growth segments like data centers, with a cautious outlook on market recovery [54][56] Question: Segment revenue projections for 2025 - Automotive and industrial are expected to recover first, followed by mobile, with specific revenue projections not yet available for 2025 [68] Question: Stability of recurring revenue - Recurring revenue is expected to remain stable, with historical data showing it has about one-third the volatility of systems revenue [84]

Q4'24 FINANCIAL RESULTS February 13, 2025 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 growth opportunity for acquired business and technology; effects of test cell utilization on future business; impact of key business drivers for recurring revenue and systems; design wins or new product introductions; annual renewal ra ...

Cohu (COHU) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -25%. A quarter ago, it was expected that this maker of semiconductor test equipment would post a loss of $0.08 per share when it actually produced a loss of $0.08, delivering no surprise.Over the last four quarters, the company ...

Exhibit 99.1 COHU, INC. 12367 CROSTHWAITE CIRCLE POWAY, CA 92064 FAX (858) 848-8185 PHONE (858) 858-8100 www.cohu.com Cohu Reports Fourth Quarter 2024 Results POWAY, Calif., February 13, 2025 – Cohu, Inc. (NASDAQ: COHU), a global supplier of equipment and services optimizing semiconductor manufacturing yield and productivity, today reported fiscal 2024 fourth quarter net sales of $94.1 million and GAAP loss of $21.4 million or $0.46 per share. Net sales for full year 2024 were $401.8 million with GAAP loss ...

Cohu (NASDAQ: COHU ), a supplier of test, automation, inspection and metrology products and services to the semiconductor industry, released its Q3 FY2024 report on October 31. COHU not only missed estimates for the top and the bottom line, but Q4 guidance was alsoWelcome to my author's site. As an avid follower of SeekingAlpha, I take great interest in articles posted as the subject matter is often something that appeals to me. However, I will sometimes encounter an article that I might not agree with. My ...

Q3'24 FINANCIAL RESULTS October 31, 2024 Page 1 © Cohu, Inc. All rights reserved. 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, sales expansion or manufacturing expenses and corresponding financial impacts; market segment gro ...

Cohu, Inc. (NASDAQ:COHU) Q3 2024 Earnings Conference Call October 31, 2024 4:30 PM ET Company Participants Jeffrey Jones - CFO Luis Muller - President and CEO Conference Call Participants Craig Ellis - B. Riley Securities Christian Schwab - Craig-Hallum Capital Group Ross Cole - Needham & Company Krish Sankar - TD Cowen Operator Good day, and thank you for standing by. Welcome to Cohu's Third Quarter 2024 Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference is ...

Cohu (COHU) came out with a quarterly loss of $0.08 per share in line with the Zacks Consensus Estimate. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this maker of semiconductor test equipment would post a loss of $0.03 per share when it actually produced a loss of $0.01, delivering a surprise of 66.67%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Cohu, which belon ...

Exhibit 99.1 Cohu Reports Third Quarter 2024 Results ● Third quarter revenue $95.3 million, approximately 67% recurring ● Gross margin of 46.8%; non-GAAP gross margin of 47.1% ● Sequential order growth with recurring improving 8% quarter-over-quarter POWAY, Calif., October 31, 2024 – Cohu, Inc. (NASDAQ: COHU), a global supplier of equipment and services optimizing semiconductor manufacturing yield and productivity, today reported fiscal 2024 third quarter net sales of $95.3 million and GAAP loss of $18.1 mi ...