Form 8-K

8-K — TERADYNE, INC

Accession: 0001193125-26-321933

Filed: 2026-07-29

Period: 2026-07-28

CIK: 0000097210

SIC: 3825 (INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ter-20260728.htm (Primary)

EX-99.1 (ter-ex99_1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ter-20260728.htm · Sequence: 1

8-K

0000097210false00000972102026-07-282026-07-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): July 28, 2026

TERADYNE, INC.

(Exact Name of Registrant as Specified in Charter)

Massachusetts

001-06462

04-2272148

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

600 Riverpark Drive, North Reading, MA

01864

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (978) 370-2700

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Stock, par value $0.125 per share

TER

Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 28, 2026, Teradyne, Inc. (“Teradyne”) issued a press release regarding its financial results for the second quarter ended June 28, 2026. Teradyne’s press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Description

99.1

Press Release dated July 28, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

TERADYNE, INC.

Dated: July 28, 2026

By:

/s/ MICHELLE TURNER

Name:

Michelle Turner

Title:

Vice President, Chief Financial Officer and Treasurer

EX-99.1

Filename: ter-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

Teradyne Reports Second Quarter 2026 Results

•

Second consecutive quarter of record revenue, exceeding the high end of our Q2 Guidance

•

Revenue up 104% and earnings up over 300% from Q2’25

•

Record Memory revenue driven by continued strength in DRAM and a resurgence in NAND final test

Q2'26

Q2'25

Q1'26

Revenue (mil)

1,329

652

1,282

GAAP EPS

2.38

0.49

2.53

Non-GAAP EPS

2.47

0.57

2.56

NORTH READING, Mass. – July 28, 2026 – Teradyne, Inc. (NASDAQ: TER) reported revenue of $1,329 million for the second quarter of 2026 of which $1,122 million was in Semiconductor Test, $107 million in Product Test, and $100 million in Robotics. On a GAAP-basis, net income attributable to Teradyne for the second quarter of 2026 was $374.5 million, or $2.38 per diluted share. On a non-GAAP basis, net income attributable to Teradyne for the second quarter of 2026 was $389.0 million, or $2.47 per diluted share, which excluded acquired intangible asset amortization, restructuring and other charges, and the related tax impact on non-GAAP adjustment.

"Our strategy to capture test and robotics opportunities from wafer to AI data center has driven another record quarter. This strength became evident in the year-on-year market expansion for all three of our business groups,” said Teradyne CEO Greg Smith. “In the short term, our Q3 guidance reflects robust AI-related demand. Looking further ahead, rapid increase in wafer fab equipment investment sets the stage for continued growth in 2027 and beyond."

Guidance for the third quarter of 2026 is revenue of $1,200 million to $1,300 million, with GAAP net income attributable to Teradyne of $1.79 to $2.09 per diluted share and non-GAAP net income attributable to Teradyne of $1.85 to $2.15 per diluted share. Non-GAAP guidance excludes acquired intangible asset amortization and amortization on our investment in Technoprobe, as well as the related tax impact on non-GAAP adjustments.

Webcast

A conference call to discuss the second quarter results, along with management’s business outlook, will follow at 8:30 a.m. ET, July 29, 2026. Interested investors should access the webcast at www.teradyne.com and click on “Investors” at least five minutes before the call begins. Presentation materials will be available starting at 7:30 a.m. ET. A replay will be available on the Teradyne website at www.teradyne.com/investors.

Page 2

Non-GAAP Results

In addition to disclosing results that are determined in accordance with GAAP, Teradyne also discloses non-GAAP results of operations that exclude certain income items and charges. These results are provided as a complement to results provided in accordance with GAAP. Non-GAAP income from operations and non-GAAP net income attributable to Teradyne excludes acquired intangible assets amortization, restructuring and other, ERP related expenses, inventory step-up, pension mark-to-market adjustment, pension actuarial gains and losses, discrete income tax adjustments, and the related tax impact on non-GAAP adjustments. GAAP requires that these items be included in determining income from operations and net income. Non-GAAP income from operations, non-GAAP net income, non-GAAP income from operations as a percentage of revenue, non-GAAP net income as a percentage of revenue, and non-GAAP net income per share are non-GAAP performance measures presented to provide meaningful supplemental information regarding Teradyne’s baseline performance before gains, losses or other charges that may not be indicative of Teradyne’s current core business or future outlook. These non-GAAP performance measures are used to make operational decisions, to determine employee compensation, to forecast future operational results, and for comparison with Teradyne’s business plan, historical operating results and the operating results of Teradyne’s competitors. Management believes each of these non-GAAP performance measures provides useful supplemental information for investors, allowing greater transparency to the information used by management in its operational decision making and in the review of Teradyne’s financial and operational performance, as well as facilitating meaningful comparisons of Teradyne’s results in the current period compared with those in prior and future periods. A reconciliation of each available GAAP to non-GAAP financial measure discussed in this press release is contained in the attached exhibits and on the Teradyne website at www.teradyne.com by clicking on “Investor Relations” and then selecting “Financials” and the “GAAP to Non-GAAP Reconciliation” link. The non-GAAP performance measures discussed in this press release may not be comparable to similarly titled measures used by other companies. The presentation of non-GAAP measures is not meant to be considered in isolation, as a substitute for, or superior to, financial measures or information provided in accordance with GAAP.

About Teradyne

Teradyne (NASDAQ:TER) designs, develops, and manufactures automated test equipment and advanced robotics systems. Its test solutions for semiconductors and electronics products enable Teradyne's customers to consistently deliver on their quality standards. Its advanced robotics business includes collaborative robots and mobile robots that support manufacturing and warehouse operations for companies of all sizes. For more information, visit teradyne.com. Teradyne® is a registered trademark of Teradyne, Inc., in the U.S. and other countries.

Safe Harbor Statement

This release contains forward-looking statements including statements regarding Teradyne’s future business prospects, financial performance or position and results of operations. You can identify forward-looking statements by their use of forward-looking words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “goal” or other comparable terms. Forward-looking statements in this press release address various matters, including statements regarding Teradyne’s financial guidance. Investors are cautioned that such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements due to known and unknown risks, uncertainties, assumptions, and other factors. Such factors include, but are not limited to, macroeconomic factors and slowdowns or downturns in economic conditions generally and in the markets in which Teradyne operates; decreased or delayed product demand from one or more significant customers; a slowdown or inability in the development, delivery and acceptance of new products; the ability to grow the Robotics business; the impact of increased research and development spending; the impact of epidemics or pandemics; the impact of a supply shortage on our supply chain and contract manufacturers; the consummation and success of any mergers or acquisitions; unexpected cash needs; the business judgment of the board of directors that a declaration of a dividend or the repurchase of common stock is not in Teradyne’s best interests; changes to U.S. or global tax regulations or guidance; the impact of any tariffs or export controls imposed by the U.S. or China; the impact of U.S. Department of Commerce or other government agency regulations relating to Huawei, HiSilicon and other customers or potential customers; the impact of U.S. Department of Commerce export control regulations for certain U.S. products and technology sold to military end users or for military end-use

Page 3

in China; the impact of the current or future geopolitical conflicts; the impact of regulations published by the U.S. Department of Commerce relating to semiconductors and semiconductor manufacturing equipment destined for certain end uses in China.

The risks included above are not exhaustive. For a more detailed description of the risk factors associated with Teradyne, please refer to Teradyne’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. Many of these factors are macroeconomic in nature and are, therefore, beyond Teradyne’s control. We caution readers not to place undue reliance on any forward-looking statements included in this press release which speak only as to the date of this press release. Teradyne specifically disclaims any obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

Page 4

TERADYNE, INC. REPORT FOR SECOND FISCAL QUARTER OF 2026

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands)

Quarter Ended

Six Months Ended

June 28,

2026

March 29,

2026

June 29,

2025

June 28,

2026

June 29,

2025

Net revenues

1,328,990

1,282,494

651,797

2,611,484

1,337,477

Cost of revenues (exclusive of acquired intangible assets amortization shown separately below) (1)

534,372

501,545

278,785

1,035,916

549,128

Gross profit

794,618

780,949

373,012

1,575,568

788,349

Operating expenses:

Selling and administrative (2)

192,520

166,737

157,782

359,257

315,039

Engineering and development

156,284

135,561

118,382

291,845

236,570

Acquired intangible assets amortization

4,972

2,224

3,733

7,196

8,306

Restructuring and other (3)

3,032

3,425

2,372

6,457

16,887

Operating expenses

356,808

307,947

282,269

664,755

576,802

Income from operations

437,810

473,002

90,743

910,813

211,547

Interest and other (income) expense (4)

(5,809

)

7,326

(5,816

)

1,517

(4,037

)

Income before income taxes

443,619

465,676

96,559

909,296

215,584

Income tax provision

66,788

62,157

12,260

128,945

26,804

Income before equity in net earnings of affiliate

376,831

403,519

84,299

780,351

188,780

Equity in net earnings of affiliate

(1,946

)

(4,611

)

(5,927

)

(6,557

)

(11,511

)

Consolidated net income

374,885

398,908

78,372

773,794

177,269

Less: Net income attributable to noncontrolling interests

352

—

352

—

Net income attributable to Teradyne

374,533

398,908

78,372

773,442

177,269

Earnings per common share attributable to Teradyne

Basic

2.39

2.55

0.49

4.94

1.10

Diluted

2.38

2.53

0.49

4.91

1.10

Weighted average common shares - basic

156,470

156,410

159,967

156,440

160,734

Weighted average common shares - diluted

157,693

157,636

160,135

157,664

161,065

Cash dividend declared per common share

0.13

0.12

0.26

0.24

(1)

Cost of revenues includes:

Quarter Ended

Six Months Ended

June 28,

2026

March 29,

2026

June 29,

2025

June 28,

2026

June 29,

2025

Provision for excess and obsolete inventory

3,599

4,682

7,402

8,281

12,347

Inventory step-up

—

118

343

118

560

Sale of previously written down inventory

(563

)

(297

)

(1,105

)

(860

)

(1,429

)

3,036

4,503

6,640

7,539

11,478

(2)

For the quarters ended June 28, 2026, March 29, 2026, and June 29, 2025, selling and administrative expenses included $2.5 million, $1.7 million, and $1.1 million, respectively, of expenses directly related to an ERP system implementation. For the six months ended June 28, 2026 and June 29, 2025, selling and administrative expenses included $4.3 million and $1.8 million, respectively, of expenses directly related to an ERP system implementation.

Page 5

(3)

Restructuring and other consists of:

Quarter Ended

Six Months Ended

June 28,

2026

March 29,

2026

June 29,

2025

June 28,

2026

June 29,

2025

Acquisition and divestiture related expenses

1,532

1,699

(422

)

3,231

1,550

Employee severance (a)

1,404

854

2,320

2,258

13,715

Asset impairment

—

1,214

Other

872

402

968

408

3,032

3,425

2,372

6,457

16,887

(a)

For the six months ended June 29, 2025, employee severance relates primarily to Robotics restructuring which impacted approximately 150 employees.

(4)

Interest and other includes:

Quarter Ended

Six Months Ended

June 28,

2026

March 29,

2026

June 29,

2025

June 28,

2026

June 29,

2025

Pension actuarial losses (gains)

(157

)

—

127

(157

)

127

Loss (gain) on foreign exchange contract

—

(561

)

Page 6

CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands)

June 28,

2026

December 31,

2025

ASSETS

Current assets:

Cash and cash equivalents

349,538

293,751

Marketable securities

5,291

28,247

Accounts receivable, net

1,109,711

786,913

Inventories, net

403,297

379,552

Prepayments

468,174

427,564

Other current assets

30,011

33,273

Total current assets

2,366,022

1,949,300

Property, plant and equipment, net

634,839

562,999

Operating lease right-of-use assets, net

94,302

76,635

Marketable securities

162,274

126,256

Deferred tax assets

289,582

275,265

Retirement plans assets

12,140

12,059

Equity method investment

514,957

537,098

Other assets

85,774

71,697

Acquired intangible assets, net

101,910

51,271

Goodwill

663,817

521,019

Total assets

4,925,617

4,183,599

LIABILITIES

Current liabilities:

Accounts payable

383,422

269,185

Accrued employees’ compensation and withholdings

220,690

254,973

Deferred revenue and customer advances

193,840

153,124

Other accrued liabilities

133,399

111,845

Operating lease liabilities

17,258

19,340

Short-term debt

—

200,000

Income taxes payable

164,907

106,740

Total current liabilities

1,113,516

1,115,207

Retirement plans liabilities

151,436

144,874

Long-term deferred revenue and customer advances

62,985

50,888

Deferred tax liabilities

12,929

5,378

Long-term other accrued liabilities

28,569

7,601

Long-term operating lease liabilities

82,869

63,899

Total liabilities

1,452,304

1,387,847

EQUITY

Total Teradyne shareholders' equity

3,437,162

2,795,752

Equity attributable to noncontrolling interests

36,151

—

Total equity

3,473,313

2,795,752

Total liabilities and equity

4,925,617

4,183,599

Page 7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)

Quarter Ended

Six Months Ended

June 28,

2026

June 29,

2025

June 28,

2026

June 29,

2025

Cash flows from operating activities:

Consolidated net income

374,885

78,372

773,794

177,269

Adjustments to reconcile consolidated net income to net cash provided by operating activities:

Depreciation

28,644

27,312

58,884

52,835

Stock-based compensation

20,063

16,827

41,964

32,031

Equity in net earnings of affiliate

1,946

5,927

6,557

11,511

Amortization

5,006

4,077

7,421

8,856

Provision for excess and obsolete inventory

3,599

7,402

8,281

12,347

Losses (gains) on investments

(8,241

)

(4,450

)

(4,923

)

(1,078

)

Deferred taxes

(10,466

)

(7,187

)

(18,230

)

(14,998

)

Retirement plan actuarial losses (gains)

(157

)

127

(157

)

127

Other

474

(317

)

2,760

3,168

Changes in operating assets and liabilities, net of businesses acquired:

Accounts receivable

19,841

36,443

(302,176

)

49,496

Inventories

(28,678

)

7,342

(7,852

)

(23,707

)

Prepayments and other assets

(63,670

)

17,230

(59,621

)

30,879

Accounts payable and other liabilities

136,829

27,085

121,803

17,135

Deferred revenue and customer advances

(1,101

)

2,857

50,863

13,056

Retirement plans contributions

(1,564

)

(4,294

)

(3,098

)

(5,576

)

Income taxes

(8,272

)

(32,665

)

57,992

(19,625

)

Net cash provided by operating activities

469,138

182,088

734,262

343,726

Cash flows from investing activities:

Purchases of property, plant and equipment

(90,706

)

(50,408

)

(155,439

)

(114,429

)

Acquisitions of businesses, net of cash and cash equivalents acquired

(165,611

)

(127,378

)

(165,611

)

(144,380

)

Purchase of investments in a business

(10,030

)

(2,357

)

(10,030

)

(5,368

)

Purchases of marketable securities

(7,438

)

(6,396

)

(48,235

)

(17,150

)

Proceeds from maturities of marketable securities

159

5,223

11,069

32,603

Proceeds from sales of marketable securities

2,287

2,854

29,615

8,487

Net cash used for investing activities

(271,339

)

(178,462

)

(338,631

)

(240,237

)

Cash flows from financing activities:

Proceeds from borrowings on revolving credit facility

300,000

—

350,000

—

Repayments of borrowings on revolving credit facility

(300,000

)

—

(550,000

)

—

Dividend payments

(20,348

)

(19,177

)

(40,710

)

(38,584

)

Repurchase of common stock

(68,720

)

(117,398

)

(74,238

)

(274,873

)

Payments related to net settlement of employee stock compensation awards

(1,676

)

(229

)

(41,113

)

(14,954

)

Issuance of common stock under stock purchase and stock option plans

—

15,101

14,792

Net cash used for financing activities

(90,744

)

(136,804

)

(340,960

)

(313,619

)

Effects of exchange rate changes on cash and cash equivalents

539

(3,202

)

1,116

(3,972

)

(Decrease) increase in cash and cash equivalents

107,594

(136,380

)

55,787

(214,102

)

Cash and cash equivalents at beginning of period

241,944

475,632

293,751

553,354

Cash and cash equivalents at end of period

349,538

339,252

349,538

339,252

Page 8

GAAP to Non-GAAP Earnings Reconciliation

(In millions, except per share amounts)

Quarter Ended

June 28,

2026

% of Net Revenues

March 29,

2026

% of Net Revenues

June 29,

2025

% of Net Revenues

Net revenues

1,329.0

1,282.5

651.8

Gross profit GAAP

794.6

59.8

780.9

60.9

373.0

57.2

Inventory step-up

—

0.0

0.1

0.0

0.3

0.0

Gross profit non-GAAP

794.6

59.8

781.0

60.9

373.3

57.3

Income from operations - GAAP

437.8

32.9

473.0

36.9

90.7

13.9

Acquired intangible assets amortization

5.0

0.4

2.2

0.2

3.7

0.6

Restructuring and other (1)

3.0

0.2

3.4

0.3

2.4

0.4

ERP related expenses (2)

2.5

0.2

1.7

0.1

1.1

0.2

Inventory step-up

—

0.0

0.1

0.0

0.3

0.0

Income from operations - non-GAAP

448.3

33.7

480.4

37.5

98.2

15.1

Earnings per Common Share attributable to Teradyne

June 28,

2026

% of Net Revenues

Basic

Diluted

March 29,

2026

% of Net Revenues

Basic

Diluted

June 29,

2025

% of Net Revenues

Basic

Diluted

Net income attributable to Teradyne - GAAP

374.5

28.2

2.39

2.38

398.9

31.1

2.55

2.53

78.4

12.0

0.49

Amortization of equity method investment

7.6

0.6

0.05

7.7

0.6

0.05

7.4

1.1

0.05

Acquired intangible assets amortization

5.0

0.4

0.03

2.2

0.2

0.01

3.7

0.6

0.02

Restructuring and other (1)

3.0

0.2

0.02

3.4

0.3

0.02

2.4

0.4

0.02

0.01

ERP related expenses (2)

2.5

0.2

0.02

1.7

0.1

0.01

1.1

0.2

0.01

Pension mark-to-market adjustment (3)

(0.2

)

0.0

(0.00

)

(0.00

)

—

0.1

0.0

0.00

Inventory step-up

—

0.1

0.0

0.00

0.3

0.0

0.00

Exclude discrete tax adjustments

(1.7

)

0.1

(0.01

)

(0.01

)

(9.3

)

0.7

(0.06

)

(0.06

)

0.0

0.00

Non-GAAP tax adjustments

(1.7

)

0.1

(0.01

)

(0.01

)

(1.8

)

0.1

(0.01

)

(0.01

)

(1.8

)

0.3

(0.01

)

(0.01

)

Net income attributable to Teradyne - non-GAAP

389.0

29.3

2.49

2.47

402.9

31.4

2.58

2.56

91.6

14.1

0.57

GAAP and non-GAAP weighted average common shares - basic

156.5

156.4

160.0

GAAP and non-GAAP weighted average common shares - diluted

157.7

157.6

160.1

Page 9

(1)

Restructuring and other consists of:

Quarter Ended

June 28,

2026

March 29,

2026

June 29,

2025

Acquisition and divestiture related expenses

1.5

1.7

(0.4

)

Employee severance

1.4

0.9

2.3

Asset impairment

—

0.1

Other

0.1

0.9

0.4

3.0

3.5

2.4

(2)

For the quarters ended June 28, 2026, March 29, 2026, and June 29, 2025, selling and administrative expenses included costs directly related to an ERP system implementation.

(3)

For the quarters ended June 28, 2026 and June 29, 2025, adjustments to exclude actuarial gains and losses, respectively, recognized under GAAP in accordance with Teradyne’s mark-to-market pension accounting.

Page 10

Six Months Ended

June 28,

2026

% of Net Revenues

June 29,

2025

% of Net Revenues

Net Revenues

2,611.5

1,337.5

Gross profit GAAP

1,575.6

60.3

788.3

58.9

Inventory step-up

0.1

0.0

0.6

0.0

Gross profit non-GAAP

1,575.7

60.3

788.9

59.0

Income from operations - GAAP

910.8

34.9

211.5

15.8

Acquired intangible assets amortization

7.2

0.3

8.3

0.6

Restructuring and other (1)

6.5

0.2

16.9

1.3

ERP related expenses (2)

4.3

0.2

1.8

0.1

Inventory step-up

0.1

0.0

0.6

0.0

Income from operations - non-GAAP

928.9

35.6

239.1

17.9

Earnings per Common Share attributable to Teradyne

June 28,

2026

% of Net Revenues

Basic

Diluted

June 29,

2025

% of Net Revenues

Basic

Diluted

Net income attributable to Teradyne - GAAP

773.4

29.6

4.94

4.91

177.3

13.3

1.10

Amortization of equity method investment

15.3

0.6

0.10

14.8

1.1

0.09

Acquired intangible assets amortization

7.2

0.3

0.05

8.3

0.6

0.05

Restructuring and other (1)

6.5

0.2

0.04

16.9

1.3

0.11

0.10

ERP related expenses (2)

4.3

0.2

0.03

1.8

0.1

0.01

Inventory step-up

0.1

0.0

0.00

0.6

0.0

0.00

Pension mark-to-market adjustment (3)

(0.2

)

0.0

(0.00

)

(0.00

)

0.1

0.0

0.00

Loss (gain) on foreign exchange contract

—

(0.6

)

0.0

(0.00

)

(0.00

)

Exclude discrete tax adjustments

(11.0

)

0.4

(0.07

)

(0.07

)

0.9

0.1

0.01

Non-GAAP tax adjustments

(3.7

)

0.1

(0.02

)

(0.02

)

(6.9

)

0.5

(0.04

)

(0.04

)

Net income attributable to Teradyne - non-GAAP

791.9

30.3

5.06

5.02

213.2

15.9

1.33

1.32

GAAP and non-GAAP weighted average common shares - basic

156.4

160.7

GAAP and non-GAAP weighted average common shares - diluted

157.7

161.1

Page 11

(1)

Restructuring and other consists of:

Six Months Ended

June 28,

2026

June 29,

2025

Acquisition and divestiture related expenses

3.2

1.6

Employee severance (a)

2.3

13.7

Asset impairment

—

1.2

Other

1.0

0.4

6.5

16.9

(a)

For the six months ended June 29, 2025, employee severance relates primarily to Robotics restructuring which impacted approximately 150 employees.

(2)

For the six months ended June 28, 2026 and June 29, 2025, selling and administrative expenses included costs directly related to an ERP system implementation.

(3)

For the six months ended June 28, 2026, and June 29, 2025, adjustments to exclude actuarial gains and losses, respectively, recognized under GAAP in accordance with Teradyne’s mark-to-market pension accounting.

Page 12

GAAP to Non-GAAP Reconciliation of Third Quarter 2026 guidance:

GAAP and non-GAAP third quarter revenue guidance:

$1,200 million

$1,300 million

GAAP net income attributable to Teradyne per diluted share

1.79

2.09

Exclude acquired intangible assets amortization

0.03

Exclude equity method investment amortization

0.05

Non-GAAP tax adjustments

(0.01

)

(0.01

)

Non-GAAP net income attributable to Teradyne per diluted share

1.85

2.15

For press releases and other information of interest to investors, please visit Teradyne’s homepage at http://www.teradyne.com.

Contact:

Teradyne, Inc.

Amy McAndrews 978-370-3945

Vice President of Corporate Relations

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