Filing Flows › Cohu (COHU) › Q3 2026 › vs Q3 2025
Cohu (COHU) Q3 2026 vs Q3 2025 (year over year)
Cohu's revenue rose $46.7M (+37%) from $126M in Q3 2025 to $173M in Q3 2026. The biggest changes: Systems +$34.4M (+61%); Non-systems +$12.3M (+18%). Operating margin 7.4% against -7.7% (+15.1 pts).
Cohu, Q3 2026: revenue $173M (+37% year over year), operating margin 7.4%, net earnings $12.1M, operating cash flow $5.6M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 7.4% | -7.7% | +15.1 pts |
| Net margin | 7.0% | -3.2% | +10.3 pts |
| Free cash flow margin | 1.7% | -14.2% | +15.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Systems | $90.7M | $56.2M | $34.4M | +61% |
| Non-systems | $82.3M | $70.0M | $12.3M | +18% |
| Revenue | $173M | $126M | $46.7M | +37% |
| Other income, net | $1.5M | $1.9M | −$379K | -20% |
| Operating profit | $12.8M | −$9.7M | $22.5M | — |
| Costs & expenses | $160M | $136M | $24.2M | +18% |
| Pre-tax earnings | $14.3M | −$7.8M | $22.1M | — |
| Cost of revenue | $94.2M | $71.0M | $23.3M | +33% |
| Research & development | $25.6M | $22.5M | $3.1M | +14% |
| SG&A | $32.7M | $31.8M | $980K | +3% |
| Other operating costs | $7.6M | $10.8M | −$3.1M | -29% |
| Net earnings | $12.1M | −$4.1M | $16.2M | — |
| Income tax | $2.2M | −$3.7M | $5.9M | — |
| Operating cash sources | $27.0M | $15.2M | $11.9M | +78% |
| Depreciation & amortization | $10.3M | $13.6M | −$3.3M | -24% |
| Share-based compensation | $4.6M | $5.7M | −$1.0M | -18% |
| Working capital & other | $21.4M | $29.2M | −$7.7M | -27% |
| Operating cash flow | $5.6M | −$14.0M | $19.6M | — |
| Free cash flow (OCF − capex) | $3.0M | −$18.0M | $20.9M | — |
| Capital expenditures | $2.6M | $4.0M | −$1.3M | -34% |
Questions
How much did Cohu's revenue grow year over year in Q3 2026?
Cohu's revenue rose $46.7M (+37%) from $126M in Q3 2025 to $173M in Q3 2026.
What drove Cohu's revenue change in Q3 2026?
Systems +$34.4M (+61%); Non-systems +$12.3M (+18%).