Cohu, Inc. · NASDAQ:COHU
Cohu — Investor Presentation (May 2025)
21 slides from Cohu's investor presentation, May 20, 2025
Slide 1: Cohu Investor Presentation
| COHU INVESTOR PRESENTATION
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements Forward-Looking Statements: Certain statements contained in ths presentation may be considered ferward-ooking statements within the meaning of theUS. Private Securities Litigation Reform Ac of 2995, incloding savings cx value from higher yiel
Slide 3: Cohu at a Glance
COHU AT A GLANCE Consumables Yield & Productivity ~ 24,800 ~ 65% Recurring Revenue’? Customer Value Creation Equipment installed Base Quacomn: SE NK CABS wotoe AMDIA intel. Gees» LIF samsunc serwoms F 2. Cohu
Slide 4: A Leader in Semiconductor Test & Inspection
ALEADER IN SEMICONDUCTOR TEST & INSPECTION Trews Test Automation Inspection Services Test Interface Semi Tester Thermal control and vision inspection Device applications, High current MEMS Compact, low-power, sane (Seen hea 4 Cohu
Slide 5: Delivering Higher Yield & Productivity
DELIVERING HIGHER YIELD & PRODUCTIVITY GQ Diverse customers and Increasing applications expanding semiconductor addressable market complexity and package integration Strong market Opportunities position ineach Al data centers, business vertical automotive ADAS@ and electrification, edge Al ~ 20% sha
Slide 6: Strategy — Opening the Market Aperture
“hea | i Fellini | STRATEGY — OPENING THE MARKET APERTURE A) FAM
Slide 7: New Growth Opportunities
NEW GROWTH OPPORTUNITIES HBM®) Inspection Wide Bandgap Al Process Control xPU Mixed Signal N Al-Driven & ML Data Improved Yield with Al Inspection Metrology ‘Known Good Die Test aie he poise e ‘Scalable, Cost-Effcient Test HEM SiC Diodes Anomaly Detection cpus, pu: mraae Predictive Maintenance /s, M
Slide 8: Expanding Market Opportunities
EXPANDING MARKET OPPORTUNITIES 50% SAM Expansion ——>> m Addressable Market = Market Expansion
Slide 9: Entering HBM Memory Market with Neon
ENTERING HBM MEMORY MARKET WITH NEON © Selected by a world leading memory ~ $100 M@® } manvfacturer for inspection metrology of . HBM used in Al data centers market opportunity + Highly efficient vision technology delivers . accurate and reliable metrology of 6-sided thousands of micro-pillars inspe
Slide 10: New Solutions for Wide Bandgap Device Test
NEW SOLUTIONS FOR WIDE BANDGAP DEVICE TEST + Post-singulation test of KGD up to 3kV and ~§ 50M (2) kA, combined with Cohu interface market opportunity * SiC die-level burn-in and stress-test process solution with vision inspection 6-sided + Significant yield and productivity gains - - . - eliminates
Slide 11: Introducing AI Process Control
INTRODUCING Al PROCESS CONTROL i ~ $600M* semi back-end analytics © Di-Core® software significantly improves overall equipment efficiency, market opportunity increases inspection yield, and maximizes device output per machine 7 a Creating state-of-the-art analytics platform for process monitoring +
Slide 12: Expanding in High Growth xPU Test
EXPANDING IN HIGH GROWTH xPU TEST <ie e xPU Test $200M® with Active Thermal Control addrescablemarket 5 aa + T-Core lab solutions deployed at leading BY ag global GPU supplier to Al data centers 2,000W+ — = * Cohu Handlers with T-Core deployed at #2 global CPU supplier for server processors zx =) po
Slide 13: Growing Diamond in Mixed Signal Test
GROWING DIAMOND, IN MIXED SIGNAL TEST High Voltage solation Power ManagementTest §=— $$ AOOM, (2) a « Selected by aTop 5 automotive addressable market semiconductor manufacturer «Integrated test cell solution - all Cohu a, Ind ustrial, al, + Cost-efficient & multi-site testing scales ompuang through
Slide 14: Shareholder Value
S Mbested err ate SHAREHOLDER VALUE a)
Slide 15: Track Record of Margin Expansion
TRACK RECORD OF MARGIN EXPANSION joe egyere —tgngees (fet) Achieved “2 Ne ewcacal +10 Points 3 oe of Gross Margin Expansion / P oe No meaningful cost ay impact from recently a ‘aniiouneed tariffs Fis FYI FAT FYI FYID FY FY FY FVD FY Differentiated products and recurring revenue expanding gross margi
Slide 16: Resilient Recurring Business Model
RESILIENT RECURRING BUSINESS MODEL ail $253M LTM® Recurring Revenue ~65% of Consolidated Revenue Consumable products generate stable revenue ae $119M ~ 24,800 LTM® Service Systems Installed Revenue Base ~ 93% 108 Annual Renewal Rate Customers on service contracts Cloud-based, automated order managem
Slide 17: Mid-Term Financial Model
MID-TERM FINANCIAL MODEL Mid-Term FY2u ~14% Model FY24 Sales Mix $800M Sales Mix Revenue syoam CAGR $600 - $80oM — Gross Margin’? 45% 48-50% Adjusted EBITDA® 2% Systems = Recurring Non-GAAP EPS) $1.50 - $3.25 Entering growth markets with organic development and acquisitions Expanding in Semi Test, p
Slide 18: Effective Capital Allocation Strategy
EFFECTIVE CAPITAL ALLOCATION STRATEGY © is © & R&D Share Debt Capital Investment Repurchase Expenditures Funding organic sagoM authorized Paid offremaining Expanding SAMand_CapEx light ~ s20M growth Term Loan Bbalance technology portfolio annually Repurchased ~ 4M. Boae i 2 ‘637M invested from share
Slide 19: We deliver leading-edge solutions to enable a smarter, safer, and more connected future
We deliver leading-edge solutions to enable a smarter, safer, and more connected future.
Slide 20: Appendix
APPENDIX Use of Non-GAAP Financial information: This presentationincludes non-GAAP financial measures, including non-GAAP Gross Margin/Profit, Income and Income (adjusted earnings) per share, Operating Income, Operating Expense, effective taxrate, net cash per share and Adjusted EBITDA that suppleme
Slide 21: GAAP to Non-GAAP Reconciliation
GAAP TO NON-GAAP RECONCILIATION — 4 Cohu