Filing Flows › Teradyne (TER) › Q1 2026
Teradyne (TER) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Teradyne (TER) reported revenue of $1.3B for the first quarter 2026 (Q1 2026), +87% from a year earlier and +18% from the quarter before. Operating margin was 36.9%, net earnings $399M (31.1% of revenue).
Teradyne, Q1 2026: revenue $1.3B (+87% year over year), operating margin 36.9%, net earnings $399M, operating cash flow $265M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +18% | +87% |
| Gross profit | $781M | +26% | +88% |
| Operating profit | $473M | +61% | +292% |
| Net earnings | $399M | +55% | +303% |
| Operating cash flow | $265M | -6% | +64% |
| Free cash flow | $200M | -8% | +105% |
What changed
Revenue was $1.3B in Q1 2026, up 87% year over year and up 18% from the previous quarter. Product was the largest line at 89% of revenue. Product added $0.58B year over year (up 103%), 97% of the total change.
Gross margin was 60.9%, up 0.3 points from Q1 2025. Operating profit was $0.47B, a 36.9% margin (up 19.3 points year over year). Of the extra revenue versus Q1 2025, 59% reached operating profit, above the 18% margin then. Operating expenses grew 5% against revenue growth of 87%. The fastest-growing cost line was Research & development (+15%). Net earnings were $0.40B, up 303% year over year. The effective tax rate was 13.5%.
Operating cash flow was $0.27B (up 64% year over year), 66% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.19B. Capital expenditures of $0.06B left free cash flow of $0.20B.
Questions
What was Teradyne's revenue in the first quarter 2026?
Teradyne (TER) reported revenue of $1.3B for the first quarter 2026 (Q1 2026), +87% from a year earlier and +18% from the quarter before.
Was Teradyne profitable in the first quarter 2026?
Operating profit was $473M (36.9% of revenue) and net earnings $399M.
Source: Teradyne 10-Q on SEC EDGAR.