Cohu (COHU) Q3 2025 Earnings
Reported Oct 29, 2025 at 4:05 PM ET · SEC Source
Q3 25 EPS
$-0.06
BEAT +69.70%
Est. $-0.20
Q3 25 Revenue
$126.2M
BEAT +1.01%
Est. $125.0M
vs S&P Since Q3 25
+163.3%
BEATING MARKET
COHU +172.3% vs S&P +9.0%
Market Reaction
Did COHU Beat Earnings? Q3 2025 Results
Cohu delivered a notably stronger-than-expected third quarter, with the semiconductor test and inspection specialist posting a non-GAAP loss of just $0.06 per share against a consensus estimate of $0.20, a beat of nearly 70%, while revenue of $126.25… Read more Cohu delivered a notably stronger-than-expected third quarter, with the semiconductor test and inspection specialist posting a non-GAAP loss of just $0.06 per share against a consensus estimate of $0.20, a beat of nearly 70%, while revenue of $126.25 million edged ahead of the $124.98 million Wall Street had anticipated and marked a 32.4% jump from the year-ago period. The key driver behind the improved profitability was a meaningful inflection in non-GAAP operating income, which reached $7.71 million compared to near breakeven a year ago, as higher volumes generated greater operating leverage across the business. Adjusted EBITDA climbed to $11.65 million, or 9.2% of net sales, up from 2.3% in the same quarter of 2024, reflecting the scale benefits of the revenue recovery. CEO Luis Müller pointed to accelerating demand in AI data center markets, citing the Neon HBM inspection system and Eclipse test handler as key contributors. Looking ahead, Cohu guided Q4 2025 revenue to a range of $115 million to $129 million, signaling a modest sequential pullback while broader softness in automotive and industrial end markets remains a near-term overhang.
Key Takeaways
- • Ongoing growth in recurring revenue, approximately 55% of total sales
- • Sequential and year-over-year revenue growth driven by semiconductor test and inspection demand
- • Non-GAAP operating income turned positive at $7.7 million, reflecting improved operational leverage
- • Adjusted EBITDA expanded to 9.2% of net sales from 2.3% in Q3 2024
COHU YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
“Cohu delivered another robust quarter, characterized by ongoing growth in recurring revenue and notable achievements in advanced semiconductor test and inspection. Our growing product portfolio highlights our dedication to innovation and operational excellence. We are confident in our long-term outlook as we advance strategic initiatives, invest in cutting-edge technologies, and consistently deliver unique value to our customers. The proceeds from our recent convertible debt offering will be strategically deployed to support these initiatives and accelerate our innovation roadmap.”
— Luis Müller, Q3 2025 Earnings Press Release
COHU Earnings Trends
COHU vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
COHU EPS Trend
Earnings per share: estimate vs actual
COHU Revenue Trend
Quarterly revenue: estimate vs actual
COHU Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.03 | $0.01 | -68.15% | $125.1M | +2.44% |
| Q4 25 MISS FY | $0.06 | $-0.15 | -341.94% | $122.2M | +0.11% |
| FY Full Year | — | $-0.22 | — | $453.0M | — |
| Q3 25 BEAT | $-0.20 | $-0.06 | +69.70% | $126.2M | +1.01% |
| Q2 25 BEAT | $-0.02 | $0.02 | +219.76% | $107.7M | +1.59% |