Cohu Q2 Revenue Jumps 38% YoY to $149M, Raises AI Pipeline to $850M, Guides Q3 Above Consensus
COHU has more than doubled off its 52-week low of $17.795.
Summary
Cohu reported Q2 2026 revenue of $149 million, up 38% year-over-year, with non-GAAP EPS of $0.26. The company raised its AI compute pipeline to $850 million and guided Q3 revenue to $170 million, well above Q2 levels.
Key Events · Earnings and Guidance · COHU
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Q2 Revenue +38% YoY
Net sales of $149.0 million, up from $107.7 million in Q2 2025, driven by broad-based improvement across end markets.
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Non-GAAP Profitability
Non-GAAP net income of $14.1 million ($0.26/share) vs. $0.7 million a year ago; GAAP loss narrowed to $0.2 million.
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AI Pipeline Raised to $850M
Annual AI-driven compute opportunity pipeline increased to approximately $850 million, with FY26 high-performance computing revenue now seen at $100–$110 million.
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Q3 Guidance Above Q2
Q3 2026 sales expected between $163 million and $177 million ($170 million midpoint), implying sequential growth of ~14%.
Analysis · COHU · Industrial Applications And Services
Cohu delivered a strong quarter with revenue up 38% year-over-year, swinging to near-breakeven on a GAAP basis and posting solid non-GAAP profitability. The company raised its full-year high-performance computing revenue target to $100–$110 million and boosted its AI-driven opportunity pipeline to approximately $850 million, signaling accelerating demand in data-center test equipment. Q3 guidance of $170 million at the midpoint handily exceeds the $149 million just reported, pointing to continued momentum. With nearly $500 million in cash and no buybacks, Cohu has ample resources to fund growth without dilution — a notable positive given the recent authorized-share increase that had raised overhang concerns.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 29.2% of the 1498 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, COHU was trading at $54.30 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $17.80 to $74.60. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.