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]

Financial Performance - Q1'25 revenue was $968 million[8], slightly below the guidance of $97 million +/- $7 million[26] - Q1'25 non-GAAP gross margin was 442%[10], compared to 418% in Q4'24[10] and 460% in Q1'24[10] - Q1'25 adjusted EBITDA was -20%[12], similar to Q4'24[12] - Q1'25 non-GAAP EPS was -$002[26], an improvement from -$015 in Q4'24[26] Balance Sheet and Cash Flow - Cash and investments decreased from $262 million in Q4'24 to $201 million in Q1'25[27] - Total debt increased from $9 million in Q4'24 to $18 million in Q1'25[27] - Cash flow from operations was -$102 million in Q1'25[27] - Net cash per share decreased from $542 in Q4'24 to $393 in Q1'25[28] Q2'25 Outlook - Q2'25 revenue is forecasted to be $106 million +/- $7 million[30], an increase of approximately 10% compared to Q1'25[32] - Q2'25 gross margin is expected to be around 45%[30] - Q2'25 operating expenses are projected to be approximately $48 million[30], down from $486 million in Q1'25[30] - Q2'25 adjusted EBITDA is expected to be around 4%[30]

[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)

Financial Performance - For the fiscal year ended December 28, 2024, Cohu's net sales decreased 36.9% year-over-year to $401.8 million due to lower demand in automotive, industrial, and mobile applications [198]. - Cohu's consolidated net sales decreased 36.9% from $636.3 million in fiscal 2023 to $401.8 million in fiscal 2024, primarily due to lower demand in various sectors [220]. - Gross margin decreased to 44.9% in fiscal 2024 from 47.6% in fiscal 2023, attributed to lower business volume impacting fixed cost leverage [221]. - Net loss for fiscal 2024 was $69.8 million, compared to net income of $28.2 million in fiscal 2023 [239]. - Cash provided by operating activities in fiscal 2024 totaled $2.8 million, a significant decrease from $101.5 million in fiscal 2023 [247]. Acquisitions - Cohu completed the acquisition of MCT on January 30, 2023, and EQT on October 2, 2023, both of which are included in the consolidated results of operations [197]. - Cohu acquired MCT on January 30, 2023, and EQT on October 2, 2023, contributing to consolidated results from the acquisition dates [218]. - Amortization of purchased intangible assets increased to $39.1 million in fiscal 2024 from $36.4 million in fiscal 2023, driven by EQT's acquisition [226]. Debt and Financing - Cohu repaid $29.3 million of its Term Loan Credit Facility on February 9, 2024, and repurchased 915,504 shares of common stock for approximately $27.0 million during fiscal 2024 [198]. - Total indebtedness as of December 28, 2024, was $8.8 million, including $1.7 million under term loans and $6.5 million under construction loans [242]. - Cash used in financing activities in fiscal 2024 totaled $59.0 million, a decrease from $68.1 million in fiscal 2023 [249]. - Repayments of short-term borrowings and long-term debt in fiscal 2024 totaled $31.3 million, including $29.3 million in cash prepayments of the Term Loan Credit Facility [249]. - As of December 30, 2023, the company had approximately $29.3 million of long-term debt under a Term Loan Credit Facility, with interest payments based on a base rate plus a margin of up to 2.0% per annum or SOFR plus a margin of up to 3.0% per annum [274]. - The company repaid the remaining outstanding principal of $29.3 million on February 9, 2024 [274]. Cash Flow and Investments - In fiscal 2024, net cash provided by investing activities totaled $21.9 million, compared to a net cash used of $30.2 million in fiscal 2023 [248]. - Cash used for purchases of short-term investments in fiscal 2024 was $78.6 million, while cash generated from sales and maturities was $114.2 million [248]. - Additions to property, plant, and equipment in fiscal 2024 amounted to $10.6 million, down from $16.1 million in fiscal 2023 [248]. - The company expects to continue making capital expenditures to support its business and anticipates that current working capital will be sufficient for at least the next twelve months [263]. - At December 28, 2024, the investment portfolio included short-term, fixed-income investment securities with a fair value of approximately $55.7 million [271]. Tax and Valuation - The company maintains a gross deferred tax asset balance of approximately $138.2 million, with a valuation allowance of approximately $114.5 million as of December 28, 2024 [206]. - The company has determined there was no impairment of goodwill as of October 1, 2024, as the estimated fair values of reporting units exceeded their carrying values [210]. Foreign Currency and Risk Management - Fluctuations in foreign currency exchange rates impacted the company's stockholders' equity, which decreased by $16.8 million due to foreign currency translation as of December 28, 2024, compared to December 30, 2023 [277]. - A hypothetical 10% devaluation of the U.S. dollar would result in an approximate $28.3 million positive translation adjustment recorded in other comprehensive income within stockholders' equity [278]. - Conversely, a hypothetical 10% appreciation of the U.S. dollar would lead to an approximate $28.3 million negative translation adjustment recorded in other comprehensive income within stockholders' equity [278]. - The company has entered into foreign currency forward contracts to hedge against future movements in foreign exchange rates affecting U.S. Dollar denominated assets and liabilities [276]. - The company began hedging foreign currency risk associated with net investment positions in certain foreign subsidiaries in the third quarter of fiscal 2024 [277]. - The company’s strategy aims to mitigate risks and volatility associated with foreign currency transaction gains or losses through foreign currency forward contracts [276]. Operational Focus - Cohu's long-term market drivers remain intact, with optimism about the increasing use of semiconductors, particularly in artificial intelligence applications [199]. - The company continues to focus on developing innovative products and capturing new customers, driven by increasing semiconductor complexity and quality demands [199]. - Cohu's inventory valuation includes reserves for estimated excess and obsolete inventory, which may impact gross margin if future demand is lower than projected [204]. Expenses - Research and development (R&D) expenses in fiscal 2024 were $84.8 million, or 21.1% of net sales, compared to $88.6 million, or 13.9% of net sales in fiscal 2023 [223]. - Selling, general and administrative (SG&A) expenses as a percentage of net sales increased to 31.9% in fiscal 2024 from 20.8% in fiscal 2023, despite a decrease in total SG&A expenses from $132.2 million to $128.0 million [225]. - Cohu's share-based compensation expense is calculated based on the market price of common stock on the grant date, affecting financial results [216].

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 ...

Company Performance - Cohu reported a quarterly loss of $0.15 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.12, and a decline from earnings of $0.23 per share a year ago, representing an earnings surprise of -25% [1] - The company posted revenues of $94.12 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 0.92%, and a significant decrease from year-ago revenues of $137.23 million [2] - Over the last four quarters, Cohu has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Outlook - Cohu shares have lost approximately 21.8% since the beginning of the year, contrasting with the S&P 500's gain of 2.9% [3] - The current consensus EPS estimate for the coming quarter is $0.01 on revenues of $104.75 million, and for the current fiscal year, it is $0.71 on revenues of $501.6 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] Industry Context - The Electronics - Manufacturing Machinery industry, to which Cohu belongs, is currently in the bottom 3% of over 250 Zacks industries, suggesting a challenging environment for stocks in this sector [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]

Financial Performance - Q4 2024 net sales were $94.1 million, a decrease from $137.2 million in Q4 2023, with a full year 2024 net sales of $401.8 million compared to $636.3 million in 2023[2][4] - GAAP loss for Q4 2024 was $21.4 million or $0.46 per share, while the full year 2024 GAAP loss was $69.8 million or $1.49 per share[2][4] - Non-GAAP loss for Q4 2024 was $7.1 million or $0.15 per share, with a full year 2024 non-GAAP loss of $10.9 million or $0.23 per share[3][4] - GAAP net loss for the three months ended December 28, 2024, was $21,358 thousand, compared to a net loss of $2,028 thousand for the same period in 2023[18] - Non-GAAP net loss for the three months ended December 28, 2024, was $7,076 thousand, compared to a non-GAAP net income of $11,120 thousand for the same period in 2023[18] - Income from operations on a GAAP basis for the twelve months ended December 28, 2024, was a loss of $71,668 thousand, compared to a profit of $43,272 thousand for the same period in 2023[20] - Non-GAAP income from operations for the twelve months ended December 28, 2024, was a loss of $6,751 thousand, compared to a profit of $103,056 thousand for the same period in 2023[20] - The net income (loss) on a GAAP basis for the twelve months ended December 28, 2024, was $(69,818,000), contrasting with a profit of $28,156,000 in 2023[25] Cash and Investments - Total cash and investments at the end of Q4 2024 were $262.1 million, with no share repurchases during the quarter[4][6] - Cash and investments decreased from $335,698 thousand in December 30, 2023, to $262,092 thousand in December 28, 2024, a reduction of approximately 21.9%[17] - The company made a cash payment of $29.3 million to repay the remaining outstanding amounts owed under Term Loan B on February 9, 2024[17] Revenue and Margins - Approximately 62% of Q4 2024 revenue was recurring, with a gross margin of 41.9% impacted by a $2.1 million inventory reserve charge[6] - Full year 2024 gross margin was 44.9%, with a non-GAAP gross margin of 45.0%[6] - GAAP gross profit for the three months ended December 28, 2024, was $39,466,000, a decrease of 42.6% compared to $65,410,000 for the same period in 2023[23] - Non-GAAP gross profit for the twelve months ended December 28, 2024, was $180,889,000, down 40.6% from $304,817,000 in 2023[25] - The GAAP gross profit margin for the three months ended December 28, 2024, was 41.9%, down from 47.7% in the same period of 2023[23] - The adjusted EBITDA margin for the twelve months ended December 28, 2024, was 1.8%, a significant drop from 17.9% in 2023[26] Operating Expenses - Operating expenses on a GAAP basis for the twelve months ended December 28, 2024, were $251,962,000, a decrease from $259,596,000 in 2023[26] - Non-GAAP operating expenses for the three months ended December 28, 2024, were $45,304,000, slightly lower than $49,787,000 in the same period of 2023[23] - Non-GAAP adjustments to operating expenses for the twelve months ended December 28, 2024, totaled $64,322,000, compared to $57,835,000 in 2023[26] Acquisitions and Future Outlook - The company acquired Tignis, Inc., aiming to expand its analytics offerings and potentially grow software revenue at an annual rate of 50% or more over the next three years[5][6] - The company completed acquisitions of MCT Worldwide, LLC and Equiptest Engineering Pte. Ltd. in 2023, integrating their operations into Cohu's financial results[16] - Cohu expects Q1 2025 sales to be in the range of $97 million +/- $7 million, indicating a potential increase in revenue[5][6] Assets and Liabilities - Total assets decreased from $1,150,352 thousand in December 30, 2023, to $999,415 thousand in December 28, 2024, representing a decline of approximately 13.1%[17] - Total current liabilities decreased from $103,421 thousand in December 30, 2023, to $85,184 thousand in December 28, 2024, a decline of approximately 17.6%[17]

Core Insights - Cohu (NASDAQ: COHU) reported its Q3 FY2024 results on October 31, missing both revenue and earnings estimates, and provided disappointing guidance for Q4 [1] Financial Performance - The company failed to meet expectations for both the top line (revenue) and bottom line (earnings) in its latest quarterly report [1] Future Outlook - Cohu's guidance for Q4 indicates further challenges ahead, suggesting a potentially difficult operating environment for the upcoming quarter [1]

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 ...