Cohu's second quarter 2026 revenue surged 38% to $149 million, beating expectations and raising its full-year AI outlook.

Cohu reported second quarter 2026 net sales of $149.0 million, an increase of 38% year-over-year, and a non-GAAP EPS of $0.26. The results exceeded analyst expectations for both revenue and earnings, driven by broad-based improvement across its end markets.

Key Highlights

• Second quarter revenue increased 38% year-over-year to $149.0 million, reflecting strengthening demand across end markets.
• The company raised its full-year 2026 high-performance computing (HPC) revenue estimate to a range of $100 million to $110 million, citing accelerating customer momentum in AI compute.
• Test cell utilization, a key indicator of semiconductor industry activity, improved sequentially to approximately 80% at the end of June.
• Cohu guided for third quarter 2026 sales to be in a range of $170 million +/- $7 million, indicating expectations for continued strong sequential growth.