Jun 2026 (Q2 FY26) — Jul 29, 2026
Teradyne Q2 FY26 — Record Revenue and EPS Driven by AI
Read the full callTeradyne (TER) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Teradyne earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,329 | +103.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 32.9 | +19.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 375 | +377.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
40 of 47 judged targets kept · 34 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Merchant GPU systems shipped, installed and in production | ship, be installed and be in production in Q2 | Mar 2026 | In the quarter, as Greg mentioned, we have completed correlation with a second AI hyperscaler customer, and we shipped the previously announced merchant GPU order. | Achieved |
| First-half share of full-year revenue | we expect 2026 sales to be in the inverse | Dec 2025 | Based on current customer order visibility, we are updating our first half weighted revenue to 50% to 52% of annual revenue. | Revised Down |
| AI share of quarterly revenue | upwards of 70% of our revenue will be driven by AI applications | Dec 2025 | In Q1, AI-related demand accounted for nearly 70% of our revenue, up from about 60% in Q4 of 2025. | Missed |
7 of TERADYNE, INC's 81 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 78 more targets are in the full ledger.
Claimed
- Total company revenue reached a record $1.3 billion, up over 100% year-over-year.
- Non-GAAP EPS was $2.47, marking an increase of over 300% year-over-year.
- AI-driven revenue accounted for over 60% of total revenue, demonstrating strong strategic execution.
- All three business groups (Semi Test, Product Test, Robotics) achieved year-over-year and quarter-over-quarter growth.
- Free cash flow for Q2 was $378 million, contributing to $579 million in H1 2026, up 150% from prior year.
Qualified
- Gross margins sequentially decreased by 110 basis points to 59.8% due to product mix and non-recurring Q1 benefits.
- Mobile segment revenue remains below historical levels, despite seasonal double-digit QoQ growth.
- Compute order timing led to expected concentration in H1, with a next surge anticipated in H1 2027.
Price
$335.53 +3.24% · +$10.53
Performance +142.9% 1Y
1Y: $138.16 on 17 Oct 2025 → $335.53. High $483.84 (30 Jun 2026), low $138.16 (17 Oct 2025).
- Previous close
- $325
- 52-week range
- $138.84 – $483.84
- One year
- +141.06%
Overview
- Symbol
- TER
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
40 of 47 judged targets kept · 34 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Merchant GPU systems shipped, installed and in production | ship, be installed and be in production in Q2 | Mar 2026 | In the quarter, as Greg mentioned, we have completed correlation with a second AI hyperscaler customer, and we shipped the previously announced merchant GPU order. | Achieved |
| First-half share of full-year revenue | we expect 2026 sales to be in the inverse | Dec 2025 | Based on current customer order visibility, we are updating our first half weighted revenue to 50% to 52% of annual revenue. | Revised Down |
| AI share of quarterly revenue | upwards of 70% of our revenue will be driven by AI applications | Dec 2025 | In Q1, AI-related demand accounted for nearly 70% of our revenue, up from about 60% in Q4 of 2025. | Missed |
Claimed
- Total company revenue reached a record $1.3 billion, up over 100% year-over-year.
- Non-GAAP EPS was $2.47, marking an increase of over 300% year-over-year.
- AI-driven revenue accounted for over 60% of total revenue, demonstrating strong strategic execution.
- All three business groups (Semi Test, Product Test, Robotics) achieved year-over-year and quarter-over-quarter growth.
- Free cash flow for Q2 was $378 million, contributing to $579 million in H1 2026, up 150% from prior year.
Qualified
- Gross margins sequentially decreased by 110 basis points to 59.8% due to product mix and non-recurring Q1 benefits.
- Mobile segment revenue remains below historical levels, despite seasonal double-digit QoQ growth.
- Compute order timing led to expected concentration in H1, with a next surge anticipated in H1 2027.
The full ledger
Open TERADYNE, INC’s full ledger
A free account opens 5 company ledgers a month. All 81 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Teradyne Q1 FY26 — Record Revenue and EPS Driven by AI Demand
Read the full callDec 2025 (Q4 FY25) — Feb 3, 2026
Teradyne Q4 FY25 — AI-Driven Revenue Surges, New Target Model Unveiled
Read the full callEvery analysed call
Teradyne earnings calls (TER)
Financials
What the filings say
Net profit, year on year: +378% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 737 | 753 | 686 | 652 | 769 | 1,083 | 1,282 | 1,329 |
| Operating profit | 152 | 154 | 121 | 91 | 145 | 293 | 473 | 438 |
| Operating margin | 20.6% | 20.4% | 17.6% | 13.9% | 18.9% | 27.1% | 36.9% | 32.9% |
| Interest | 1 | 1 | 1 | 1 | 1 | 4 | 3 | 3 |
| Profit before tax | 159 | 158 | 119 | 97 | 148 | 290 | 466 | 444 |
| Tax rate | 7.7% | 3.4% | 12.2% | 12.7% | 15.8% | 10.1% | 13.3% | 15.1% |
| Net profit | 146 | 146 | 99 | 78 | 120 | 257 | 399 | 375 |
| EPS ($ per share) | 0.89 | — | 0.61 | 0.49 | 0.75 | — | 2.55 | 2.39 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 22 | 21 | 21 | 20 | 19 | 19 | 20 | 20 |
| Reserves | -158 | -242 | 387 | 737 | 726 | 707 | 971 | 744 |
| Total liabilities | 1,184 | 1,307 | 1,442 | 1,245 | 1,050 | 961 | 889 | 1,388 |
| Fixed assets | 280 | 320 | 395 | 387 | 419 | 445 | 508 | 563 |
| Total assets | 2,707 | 2,787 | 3,652 | 3,809 | 3,501 | 3,487 | 3,709 | 4,184 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 477 | 579 | 869 | 1,098 | 578 | 585 | 672 | 674 |
| Cash from investing | 923 | -157 | -570 | 120 | 44 | -180 | -622 | -369 |
| Cash from financing | -903 | -574 | -158 | -1,009 | -893 | -502 | -252 | -562 |
| Net cash flow | 497 | -153 | 140 | 208 | -267 | -97 | -204 | -260 |
| Capital expenditure | -114 | -135 | -185 | -132 | -163 | -160 | -198 | -224 |
| Free cash flow | 363 | 444 | 684 | 966 | 415 | 426 | 474 | 450 |
TER revenue by segment
Semiconductor Test grew from 74% to 84% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Semiconductor Test | 74% | 83% | 79% | 75% | 79% | 82% | 87% | 84% | +128.1% |
| Product Test | — | — | 11% | 13% | 11% | 10% | 6% | 8% | +26.1% |
| Robotics | 12% | 13% | 10% | 11% | 10% | 8% | 7% | 8% | +33.5% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- Asia Pacific 87% ↑ 10 pt
- Americas 8% ↓ 6 pt
- EMEA 5% ↓ 4 pt
As TER cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
88 filings between Nov 3, 2025 and Oct 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$14.19M
31 sales by 6 insiders
97% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 26
- Award — granted as compensation
- 3
- Option exercise — converted options into shares
- 16
- Tax withheld — shares kept back by the company to cover tax
Also filed: 12 other filings.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Smith Gregory Stephen | — | $9.51M | Sep 15, 2026 |
| MATZ MARILYN | — | $2.27M | Sep 17, 2026 |
| JOHNSON MERCEDES | — | $1.24M | Oct 1, 2026 |
| Poulin Shannon John | — | $581.0K | May 22, 2026 |
| Mills Regan | — | $341.1K | Apr 8, 2026 |
| Driscoll Ryan | — | $256.8K | May 7, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | JOHNSON MERCEDES Director | Sale 10b5-1 plan | 167 | $67.3K |
| Sep 25, 2026 | MADDOCK ERNEST E Director | Other | 2 | $0 |
| Sep 25, 2026 | TUFANO PAUL J Director | Other | 19 | $0 |
| Sep 25, 2026 | Herweck Peter Director | Other | 4 | $0 |
| Sep 24, 2026 | Herweck Peter Director | Award | 77 | $0 |
| Sep 24, 2026 | TUFANO PAUL J Director | Award | 141 | $0 |
| Sep 24, 2026 | Henry Andrew Chisholm Director | Award | 64 | $0 |
| Sep 17, 2026 | MATZ MARILYN Director | Sale 10b5-1 plan | 400 | $140.4K |
| Sep 15, 2026 | Smith Gregory Stephen President and CEO | Sale 10b5-1 plan | 4,000 | $1.35M |
| Sep 15, 2026 | MATZ MARILYN Director | Sale 10b5-1 plan | 800 | $270.3K |
| Sep 1, 2026 | JOHNSON MERCEDES Director | Sale 10b5-1 plan | 167 | $57.0K |
| Aug 17, 2026 | MATZ MARILYN Director | Sale 10b5-1 plan | 1,200 | $510.0K |
| Aug 17, 2026 | Smith Gregory Stephen President and CEO | Sale 10b5-1 plan | 4,000 | $1.70M |
| Aug 3, 2026 | JOHNSON MERCEDES Director | Sale 10b5-1 plan | 166 | $59.5K |
| Jul 15, 2026 | MATZ MARILYN Director | Sale 10b5-1 plan | 1,200 | $427.6K |
| Jul 15, 2026 | Smith Gregory Stephen President and CEO | Sale 10b5-1 plan | 4,000 | $1.43M |
| Jul 1, 2026 | JOHNSON MERCEDES Director | Sale 10b5-1 plan | 167 | $76.8K |
| Jun 25, 2026 | Henry Andrew Chisholm Director | Award | 52 | $0 |
| Jun 25, 2026 | Herweck Peter Director | Award | 63 | $0 |
| Jun 25, 2026 | TUFANO PAUL J Director | Award | 116 | $0 |
| Jun 15, 2026 | MATZ MARILYN Director | Sale 10b5-1 plan | 1,200 | $507.6K |
| Jun 15, 2026 | Smith Gregory Stephen President and CEO | Sale 10b5-1 plan | 4,000 | $1.69M |
| Jun 12, 2026 | MADDOCK ERNEST E Director | Other | 2 | $0 |
| Jun 12, 2026 | TUFANO PAUL J Director | Other | 19 | $0 |
| Jun 12, 2026 | Herweck Peter Director | Other | 4 | $0 |
| Jun 2, 2026 | Hathout Jean Pierre President, Teradyne Robotics | Tax withheld | 174 | $68.3K |
| Jun 2, 2026 | JOHNSON MERCEDES Director | Sale 10b5-1 plan | 167 | $61.7K |
| Jun 1, 2026 | Hathout Jean Pierre President, Teradyne Robotics | Tax withheld | 267 | $98.6K |
| May 22, 2026 | Poulin Shannon John President, Semiconductor Test | Sale 10b5-1 plan | 656 | $232.9K |
| May 21, 2026 | Poulin Shannon John President, Semiconductor Test | Option exercise 10b5-1 plan | 2,843 | $234.9K |
| May 21, 2026 | Poulin Shannon John President, Semiconductor Test | Tax withheld 10b5-1 plan | 1,531 | $529.7K |
| May 21, 2026 | Poulin Shannon John President, Semiconductor Test | Sale 10b5-1 plan | 1,008 | $348.1K |
| May 21, 2026 | MATZ MARILYN Director | Sale 10b5-1 plan | 400 | $140.0K |
| May 15, 2026 | Smith Gregory Stephen President and CEO | Sale 10b5-1 plan | 8,597 | $2.91M |
| May 15, 2026 | Smith Gregory Stephen President and CEO | Option exercise 10b5-1 plan | 4,597 | $331.4K |
| May 15, 2026 | MATZ MARILYN Director | Sale 10b5-1 plan | 800 | $271.2K |
| May 8, 2026 | MATZ MARILYN Director | Award | 668 | $0 |
| May 8, 2026 | van Kralingen Bridget A Director | Award | 668 | $0 |
| May 8, 2026 | TUFANO PAUL J Director | Award | 668 | $0 |
| May 8, 2026 | Sayiner Necip Director | Award | 668 | $0 |
| May 8, 2026 | MADDOCK ERNEST E Director | Award | 668 | $0 |
| May 8, 2026 | Henry Andrew Chisholm Director | Award | 668 | $0 |
| May 8, 2026 | Herweck Peter Director | Award | 668 | $0 |
| May 8, 2026 | JOHNSON MERCEDES Director | Award | 668 | $0 |
| May 7, 2026 | Driscoll Ryan VP, General Counsel, Secretary | Sale 10b5-1 plan | 680 | $256.8K |
| Apr 8, 2026 | Mills Regan President, Product Test | Sale 10b5-1 plan | 16 | $5.5K |
| Apr 6, 2026 | JOHNSON MERCEDES Director | Sale 10b5-1 plan | 625 | $195.1K |
| Apr 2, 2026 | Mills Regan President, Product Test | Sale 10b5-1 plan | 252 | $73.3K |
| Apr 1, 2026 | Poulin Shannon John President, Semiconductor Test | Tax withheld | 1,162 | $362.8K |
| Apr 1, 2026 | Mills Regan President, Product Test | Tax withheld 10b5-1 plan | 222 | $69.3K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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