TER 10-Q report for 2025-09-28

TER 10-Q report for 2025-09-28 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 28, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File No. 001-06462 TERADYNE, INC. (Exact name of registrant as specified in its charter) Massachusetts 04-2272148 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) 600 Riverpark Drive , North Reading , Massachusetts 01864 (Address of Principal Executive Offices) (Zip Code) 978 - 370-2700 (Registrant’s Telephone Number, Including Area Code) 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: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to the filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files) Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act (check one): Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Emerging growth company ☐ Smaller reporting 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. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒ The number of shares outstanding of the registrant’s only class of Common Stock as of October 27, 2025, was 156,608,303 sh ares. TERADYNE, INC. INDEX Page No. PART I. FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited): 1 Condensed Consolidated Balance Sheets as of September 28, 2025, and December 31, 2024 1  f Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 28, 2025, and September 29, 2024 2 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 28, 2025, and September 29, 2024 3 Condensed Statements of Shareholders’ Equity for the Three and Nine Months Ended September 28, 2025, and September 29, 2024 4 d Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 28, 2025, and September 29, 2024 5 Notes to Condensed Consolidated Financial Statements 6 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 31 Item 3. Quantitative and Qualitative Disclosures about Market Risk 41 Item 4. Controls and Procedures 41 PART II. OTHER INFORMATION Item 1. Legal Proceedings 42 Item 1A. Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43 Item 4. Mine Safety Disclosures 43 Item 5. Other Information 44 Item 6. Exhibits 45 PART I Item 1: Financial Statements TERADYNE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 28, 2025 December 31, 2024 (in thousands, except per share amount) ASSETS Current assets: Cash and cash equivalents $ 272,700 $ 553,354 Marketable securities 25,017 46,312 Accounts receivable, less allowance for credit losses of $ 1,886  and $ 2,111  at September 28, 2025    and December 31, 2024, respectively 593,800 471,426 Inventories, net 366,752 298,492 Prepayments 469,240 429,086 Other current assets 22,649 17,727 Total current assets 1,750,158 1,816,397 Property, plant and equipment, net 569,939 508,171 Operating lease right-of-use assets, net 62,442 70,185 Marketable securities 129,658 124,121 Deferred tax assets 253,455 222,438 Retirement plans assets 12,702 11,994 Equity method investment 538,001 494,494 Other assets 73,118 49,620 Acquired intangible assets, net 54,708 15,927 Goodwill 519,550 395,367 Total assets $ 3,963,731 $ Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 31 Item 3. Quantitative and Qualitative Disclosures about Market Risk 41 Item 4. Controls and Procedures 41 PART II. OTHER INFORMATION Item 1. Legal Proceedings 42 Item 1A. Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43 Item 4. Mine Safety Disclosures 43 Item 5. Other Information 44 Item 6. Exhibits 45 PART I Item 1: Financial Statements TERADYNE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 28, 2025 December 31, 2024 (in thousands, except per share amount) ASSETS Current assets: Cash and cash equivalents $ 272,700 $ 553,354 Marketable securities 25,017 46,312 Accounts receivable, less allowance for credit losses of $ 1,886  and $ 2,111  at September 28, 2025    and December 31, 2024, respectively 593,800 471,426 Inventories, net 366,752 298,492 Prepayments 469,240 429,086 Other current assets 22,649 17,727 Total current assets 1,750,158 1,816,397 Property, plant and equipment, net 569,939 508,171 Operating lease right-of-use assets, net 62,442 70,185 Marketable securities 129,658 124,121 Deferred tax assets 253,455 222,438 Retirement plans assets 12,702 11,994 Equity method investment 538,001 494,494 Other assets 73,118 49,620 Acquired intangible assets, net 54,708 15,927 Goodwill 519,550 395,367 Total assets $ 3,963,731 $ 3,708,714 LIABILITIES Current liabilities: Accounts payable $ 227,850 $ 134,792 Accrued employees’ compensation and withholdings 203,850 204,991 Deferred revenue and customer advances 133,050 107,710 Other accrued liabilities 138,717 90,777 Operating lease liabilities 19,026 18,699 Short-term debt 200,000 — Income taxes payable 72,496 67,610 Total current liabilities 994,989 624,579 Retirement plans liabilities 142,680 133,338 Long-term deferred revenue and customer advances 43,887 40,505 Deferred tax liabilities 6,890 1,038 Long-term other accrued liabilities 8,285 7,442 Long-term operating lease liabilities 49,725 57,922 Long-term incomes taxes payable — 24,596 Total liabilities 1,246,456 889,420 Commitments and contingencies (Note S) SHAREHOLDERS’ EQUITY Common stock, $ 0.125  par value, 1,000,000  shares authorized; 157,245  and 161,722  shares issued    and outstanding at September 28, 2025, and December 31, 2024, respectively 19,656 20,215 Additional paid-in capital 1,973,415 1,909,538 Accumulated other comprehensive loss (gain) 37,422 ( 81,220 ) Retained earnings 686,782 970,761 Total shareholders’ equity 2,717,275 2,819,294 Total liabilities and shareholders’ equity $ 3,963,731 $ 3,708,714 The accompanying notes, together with the Notes to Consolidated Financial Statements included in Teradyne’s Annual Report on Form 10-K for the year ended December 31, 2024, are an integral part of the condensed consolidated financial statements. 1 TERADYNE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the Three Months  Ended For the Nine Months  Ended September 28, 2025 September 29, 2024 September 28, 2025 September 29, 2024 (in thousands, except per share amount) (in thousands, except per share amount) Revenues: Products $ 632,104 $ 612,871 $ 1,716,718 $ 1,668,181 Services 137,106 124,427 389,969 398,815 Total revenues 769,210 737,298 2,106,687 2,066,996 Cost of revenues: Cost of products 270,634 253,129 727,198 704,129 Cost of services 49,270 47,655 141,834 161,228 Total cost of revenues (exclusive of acquired intangible    assets amortization shown separately below) 319,904 300,784 869,032 865,357 Gross profit 449,306 436,514 1,237,655 1,201,639 Operating expenses: Selling and administrative 169,144 157,649 484,182 461,307 Engineering and development 124,760 117,474 361,331 332,489 Acquired intangible assets amortization 3,514 4,748 11,820 14,108 Restructuring and other 6,585 4,578 23,472 11,018 Gain on sale of business — — — ( 57,486 ) Total operating expenses 304,003 284,449 880,805 761,436 Income from operations 145,303 152,065 356,850 440,203 Non-operating (income) expense: Interest income ( 3,191 ) ( 5,076 ) ( 12,618 ) ( 19,658 ) Interest expense 1,309 808 2,909 2,998 Other (income) expense, net ( 915 ) ( 2,651 ) 2,875 5,574 Income before income taxes and equity in net earnings of affiliate 148,100 158,984 363,684 451,289 Income tax provision 23,344 12,260 50,148 54,095 Income before equity in net earnings of affiliate 124,756 146,724 313,536 397,194 Equity in net earnings of affiliate ( 5,198 ) ( 1,075 ) ( 16,709 ) ( 1,075 ) Net income $ 119,558 $ 145,649 $ 296,827 $ 396,119 Net income per common share: Basic $ 0.75 $ 0.89 $ 1.85 $ 2.51 Diluted $ 0.75 $ 0.89 $ 1.85 $ 2.42 Weighted average common shares—basic 158,595 163,002 160,021 157,951 Weighted average common shares—diluted 159,097 164,253 160,409 163,357 The accompanying notes, together with the Notes to Consolidated Financial Statements included in Teradyne’s Annual Report on Form 10-K for the year ended December 31, 2024, are an integral part of the condensed consolidated financial statements. 2 TERADYNE, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) For the Three Months  Ended For the Nine Months  Ended September 28, 2025 September 29, 2024 September 28, 2025 September 29, 2024 (in thousands) (in thousands) Net income $ 119,558 $ 145,649 $ 296,827 $ 396,119 Other comprehensive income (loss), net of tax: Foreign currency translation adjustment, net of tax of $ 0 , $ 0 , $ 0 , and    $ 0 , respectively ( 4,351 ) 37,838 117,966 22,751 Available-for-sale marketable securities: Unrealized (losses) gains on marketable securities arising during    period, net of tax of $ 201 , $ 609 , $ 316 , and $ 205 , respectively 739 2,507 1,324 885 Less: Reclassification adjustment for (gains) losses included in net income, net of tax of $ 0 ,    $( 2 ), $ 27 , $ 24 , respectively — ( 7 ) 89 86 739 2,500 1,413 971 Cash flow hedges: Unrealized (losses) gains arising during period, net of tax of $ 0 , $( 73 ), $( 109 ), and $ 285 , respectively — ( 260 ) ( 381 ) 1,014 Less: Reclassification adjustment for losses (gains) included in    net income, net of tax of $ 0 , $ 0 , $( 100 ), and $( 500 ), respectively — — ( 350 ) ( 1,780 ) — ( 260 ) ( 731 ) ( 766 ) Defined benefit post-retirement plan: Amortization of prior service credit, net of tax of $ 0 , $ 0 , $( 1 ), and    $( 1 ), respectively ( 2 ) ( 2 ) ( 6 ) ( 6 ) Other comprehensive income (loss) ( 3,614 ) 40,076 118,642 22,950 Comprehensive income $ 115,944 $ 185,725 $ 415,469 $ 419,069 The accompanying notes, together with the Notes to Consolidated Financial Statements included in Teradyne’s Annual Report on Form 10-K for the year ended December 31, 2024, are an integral part of the condensed consolidated financial statements. 3 TERADYNE, INC. CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Unaudited) Shareholders' Equity Common Stock Shares Common Stock Par Value Additional Paid-in Capital Accumulated Other Comprehensive Income (Loss) Retained Earnings Total Shareholders’ Equity (in thousands) For the Three Months Ended September 28, 2025 Balance, June 29, 2025 159,210 $ 19,901 $ 1,941,501 $ 41,036 $ 834,863 $ 2,837,301 Net issuance of common stock under stock-based plans 206 26 14,958 14,984 Stock-based compensation expense 16,956 16,956 Repurchase of common stock ( 2,171 ) ( 271 ) ( 248,640 ) ( 248,911 ) Cash dividends ($ 0.12  per share) ( 18,999 ) ( 18,999 ) Net income 119,558 119,558 Other comprehensive income (loss) ( 3,614 ) ( 3,614 ) Balance, September 28, 2025 157,245 $ 19,656 $ 1,973,415 $ 37,422 $ 686,782 $ 2,717,275 For the Three Months Ended September 29, 2024 Balance, June 30, 2024 161,802 $ 20,225 $ 1,865,351 $ ( 44,104 ) $ 889,340 $ 2,730,812 Net issuance of common stock under stock-based plans 130 17 14,966 14,983 Stock-based compensation expense 15,999 15,999 Warrant exercises 1,223 153 ( 155 ) ( 2 ) Repurchase of common stock ( 196 ) ( 25 ) ( 25,376 ) ( 25,401 ) Cash dividends ($ 0.12  per share) ( 19,574 ) ( 19,574 ) Net income 145,649 145,649 Other comprehensive income (loss) 40,076 40,076 Balance, September 29, 2024 162,959 $ 20,370 $ 1,896,161 $ ( 4,028 ) $ 990,039 $ 2,902,542 Shareholders' Equity Common Stock Shares Common Stock Par Value Additional Paid-in Capital Accumulated Other Comprehensive Income (Loss) Retained Earnings Total Shareholders’ Equity (in thousands) For the Nine Months Ended September 28, 2025 Balance, December 31, 2024 161,722 $ 20,215 $ 1,909,538 $ ( 81,220 ) $ 970,761 $ 2,819,294 Net issuance of common stock under stock-based plans 655 82 14,741 14,823 Stock-based compensation expense 49,136 49,136 Repurchase of common stock ( 5,132 ) ( 641 ) ( 523,208 ) ( 523,849 ) Cash dividends ($ 0.36  per share) ( 57,598 ) ( 57,598 ) Net income 296,827 296,827 Other comprehensive income (loss) 118,642 118,642 Balance, September 28, 2025 157,245 $ 19,656 $ 1,973,415 $ 37,422 $ 686,782 $ 2,717,275 For the Nine Months Ended September 29, 2024 Balance, December 31, 2023 152,698 $ 19,087 $ 1,827,274 $ ( 26,978 ) $ 706,514 $ 2,525,897 Net issuance of common stock under stock-based plans 720 91 23,340 23,431 Stock-based compensation expense 46,817 46,817 Warrant exercises 10,036 1,254 ( 1,270 ) ( 16 ) Repurchase of common stock ( 495 ) ( 62 ) ( 55,630 ) ( 55,692 ) Cash dividends ($ 0.36  per share) ( 56,964 ) ( 56,964 ) Net income 396,119 396,119 Other comprehensive income (loss) 22,950 22,950 Balance, September 29, 2024 162,959 $ 20,370 $ 1,896,161 $ ( 4,028 ) $ 990,039 $ 2,902,542 The accompanying notes, together with the Notes to Consolidated Financial Statements included in Teradyne’s Annual Report on Form 10-K for the year ended December 31, 2024, are an integral part of the condensed consolidated financial statements. 4 TERADYNE, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) For the Nine Months  Ended September 28, 2025 September 29, 2024 (in thousands) Cash flows from operating activities: Net income $ 296,827 $ 396,119 Adjustments to reconcile net income from operations to net cash provided by operating activities: Depreciation 79,484 74,480 Stock-based compensation 47,561 45,267 Equity in net earnings of affiliate 16,709 1,075 Losses (gains) on investments ( 4,722 ) 10,139 Provision for excess and obsolete inventory 19,175 15,516 Amortization 12,723 14,133 Gain on sale of business — ( 57,486 ) Deferred taxes ( 29,100 ) ( 26,261 ) Retirement plan losses (gains) ( 673 ) ( 2,512 ) Other 3,344 ( 5,041 ) Changes in operating assets and liabilities, net of businesses acquired: Accounts receivable ( 111,787 ) ( 65,266 ) Inventories ( 34,618 ) 11,127 Prepayments and other assets ( 22,599 ) 61,438 Accounts payable and other liabilities 121,447 ( 63,666 ) Deferred revenue and customer advances 25,652 3,624 Retirement plans contributions ( 6,986 ) ( 4,169 ) Income taxes ( 19,661 ) ( 18,898 ) Net cash provided by operating activities 392,776 389,619 Cash flows from investing activities: Purchases of property, plant and equipment ( 161,121 ) ( 140,710 ) Acquisition of businesses, net of cash acquired ( 144,380 ) — Purchase of investment in a business ( 25,519 ) ( 527,060 ) Purchases of marketable securities ( 27,465 ) ( 35,097 ) Proceeds from the sale of a business, net of cash and cash equivalents sold — 90,348 Proceeds from maturities of marketable securities 41,621 33,163 Proceeds from sales of marketable securities 9,172 23,600 Proceeds from insurance — 873 Net cash used for investing activities ( 307,692 ) ( 554,883 ) Cash flows from financing activities: Proceeds from borrowings on revolving credit facility 200,000 185,000 Repayments of borrowings on revolving credit facility — ( 185,000 ) Dividend payments ( 57,574 ) ( 56,936 ) Repurchase of common stock ( 518,658 ) ( 55,053 ) Payments related to net settlement of employee stock compensation awards ( 15,254 ) ( 13,833 ) Issuance of common stock under stock purchase and stock option plans 30,076 37,265 Net cash used for financing activities ( 361,410 ) ( 88,557 ) Effects of exchange rate changes on cash and cash equivalents ( 4,328 ) 6,286 Decrease in cash and cash equivalents ( 280,654 ) ( 247,535 ) Cash and cash equivalents at beginning of period 553,354 757,571 Cash and cash equivalents at end of period $ 272,700 $ 510,036 Non-cash investing activities: Capital expenditures incurred but not yet paid: $ 7,821 $ 3,679 The accompanying notes, together with the Notes to Consolidated Financial Statements included in Teradyne’s Annual Report on Form 10-K for the year ended December 31, 2024, are an integral part of the condensed consolidated financial statements. 5 TERADYNE, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) A. THE COMPANY Teradyne, Inc. (“Teradyne”) is a leading global provider of automated test equipment and robotics solutions. Teradyne’s automated test systems are used to test semiconductors, wireless products, data storage, silicon photonics, and complex electronics systems in many industries including consumer electronics, wireless, automotive, industrial, computing, communications, and a Item 1A. Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43 Item 4. Mine Safety Disclosures 43 Item 5. Other Information 44 Item 6. Exhibits 45 PART I Item 1: Financial Statements TERADYNE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 28, 2025 December 31, 2024 (in thousands, except per share amount) ASSETS Current assets: Cash and cash equivalents $ 272,700 $ 553,354 Marketable securities 25,017 46,312 Accounts receivable, less allowance for credit losses of $ 1,886  and $ 2,111  at September 28, 2025    and December 31, 2024, respectively 593,800 471,426 Inventories, net 366,752 298,492 Prepayments 469,240 429,086 Other current assets 22,649 17,727 Total current assets 1,750,158 1,816,397 Property, plant and equipment, net 569,939 508,171 Operating lease right-of-use assets, net 62,442 70,185 Marketable securities 129,658 124,121 Deferred tax assets 253,455 222,438 Retirement plans assets 12,702 11,994 Equity method investment 538,001 494,494 Other assets 73,118 49,620 Acquired intangible assets, net 54,708 15,927 Goodwill 519,550 395,367 Total assets $ 3,963,731 $ 3,708,714 LIABILITIES Current liabilities: Accounts payable $ 227,850 $ 134,792 Accrued employees’ compensation and withholdings 203,850 204,991 Deferred revenue and customer advances 133,050 107,710 Other accrued liabilities 138,717 90,777 Operating lease liabilities 19,026 18,699 Short-term debt 200,000 — Income taxes payable 72,496 67,610 Total current liabilities 994,989 624,579 Retirement plans liabilities 142,680 133,338 Long-term deferred revenue and customer advances 43,887 40,505 Deferred tax liabilities 6,890 1,038 Long-term other accrued liabilities 8,285 7,442 Long-term operating lease liabilities 49,725 57,922 Long-term incomes taxes payable — 24,596 Total liabilities 1,246,456 889,420 Commitments and contingencies (Note S) SHAREHOLDERS’ EQUITY Common stock, $ 0.125  par value, 1,000,000  shares authorized; 157,245  and 161,722  shares issued    and outstanding at September 28, 2025, and December 31, 2024, respectively 19,656 20,215 Additional paid-in capital 1,973,415 1,909,538 Accumulated other comprehensive loss (gain) 37,422 ( 81,220 ) Retained earnings 686,782 970,761 Total shareholders’ equity 2,717,275 2,819,294 Total liabilities and shareholders’ equity $ 3,963,731 $ 3,708,714 The accompanying notes, together with the Notes to Consolidated Financial Statements included in Teradyne’s Annual Report on Form 10-K for the year ended December 31, 2024, are an integral part of the condensed consolidated financial statements. 1 TERADYNE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the Three Months  Ended For the Nine Months  Ended September 28, 2025 September 29, 2024 September 28, 2025 September 29, 2024 (in thousands, except per share amount) (in thousands, except per share amount) Revenues: Products $ 632,104 $ 612,871 $ 1,716,718 $ 1,668,181 Services 137,106 124,427 389,969 398,815 Total revenues 769,210 737,298 2,106,687 2,066,996 Cost of revenues: Cost of products 270,634 253,129 727,198 704,129 Cost of services 49,270 47,655 141,834 161,228 Total cost of revenues (exclusive of acquired intangible    assets amortization shown separately below) 319,904 300,784 869,032 865,357 Gross profit 449,306 436,514 1,237,655 1,201,639 Operating expenses: Selling and administrative 169,144 157,649 484,182 461,307 Engineering and development 124,760 117,474 361,331 332,489 Acquired intangible assets amortization 3,514 4,748 11,820 14,108 Restructuring and other 6,585 4,578 23,472 11,018 Gain on sale of business — — — ( 57,486 ) Total operating expenses 304,003 284,449 880,805 761,436 Income from operations 145,303 152,065 356,850 440,203 Non-operating (income) expense: Interest income ( 3,191 ) ( 5,076 ) ( 12,618 ) ( 19,658 ) Interest expense 1,309 808 2,909 2,998 Other (income) expense, net ( 915 ) ( 2,651 ) 2,875 5,574 Income before income taxes and equity in net earnings of affiliate 148,100 158,984 363,684 451,289 Income tax provision 23,344 12,260 50,148 54,095 Income before equity in net earnings of affiliate 124,756 146,724 313,536 397,194 Equity in net earnings of affiliate ( 5,198 ) ( 1,075 ) ( 16,709 ) ( 1,075 ) Net income $ 119,558 $ 145,649 $ 296,827 $ 396,119 Net income per common share: Basic $ 0.75 $ 0.89 $ 1.85 $ 2.51 Diluted $ 0.75 $ 0.89 $ 1.85 $ 2.42 Weighted average common shares—basic 158,595 163,002 160,021 157,951 Weighted average common shares—diluted 159,097 164,253 160,409 163,357 The accompanying notes, together with the Notes to Consolidated Financial Statements included in Teradyne’s Annual Report on Form 10-K for the year ended December 31, 2024, are an integral part of the condensed consolidated financial statements. 2 TERADYNE, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) For the Three Months  Ended For the Nine Months  Ended September 28, 2025 September 29, 2024 September 28, 2025 September 29, 2024 (in thousands) (in thousands) Net income $ 119,558 $ 145,649 $ 296,827 $ 396,119 Other comprehensive income (loss), net of tax: Foreign currency translation adjustment, net of tax of $ 0 , $ 0 , $ 0 , and    $ 0 , respectively ( 4,351 ) 37,838 117,966 22,751 Available-for-sale marketable securities: Unrealized (losses) gains on marketable securities arising during    period, net of tax of $ 201 , $ 609 , $ 316 , and $ 205 , respectively 739 2,507 1,324 885 Less: Reclassification adjustment for (gains) losses included in net income, net of tax of $ 0 ,    $( 2 ), $ 27 , $ 24 , respectively — ( 7 ) 89 86 739 2,500 1,413 971 Cash flow hedges: Unrealized (losses) gains arising during period, net of tax of $ 0 , $( 73 ), $( 109 ), and $ 285 , respectively — ( 260 ) ( 381 ) 1,014 Less: Reclassification adjustment for losses (gains) included in    net income, net of tax of $ 0 , $ 0 , $( 100 ), and $( 500 ), respectively — — ( 350 ) ( 1,780 ) — ( 260 ) ( 731 ) ( 766 ) Defined benefit post-retirement plan: Amortization of prior service credit, net of tax of $ 0 , $ 0 , $( 1 ), and    $( 1 ), respectively ( 2 ) ( 2 ) ( 6 ) ( 6 ) Other comprehensive income (loss) ( 3,614 ) 40,076 118,642 22,950 Comprehensive income $ 115,944 $ 185,725 $ 415,469 $ 419,069 The accompanying notes, together with the Notes to Consolidated Financial Statements included in Teradyne’s Annual Report on Form 10-K for the year ended December 31, 2024, are an integral part of the condensed consolidated financial statements. 3 TERADYNE, INC. CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Unaudited) Shareholders' Equity Common Stock Shares Common Stock Par Value Additional Paid-in Capital Accumulated Other Comprehensive Income (Loss) Retained Earnings Total Shareholders’ Equity (in thousands) For the Three Months Ended September 28, 2025 Balance, June 29, 2025 159,210 $ 19,901 $ 1,941,501 $ 41,036 $ 834,863 $ 2,837,301 Net issuance of common stock under stock-based plans 206 26 14,958 14,984 Stock-based compensation expense 16,956 16,956 Repurchase of common stock ( 2,171 ) ( 271 ) ( 248,640 ) ( 248,911 ) Cash dividends ($ 0.12  per share) ( 18,999 ) ( 18,999 ) Net income 119,558 119,558 Other comprehensive income (loss) ( 3,614 ) ( 3,614 ) Balance, September 28, 2025 157,245 $ 19,656 $ 1,973,415 $ 37,422 $ 686,782 $ 2,717,275 For the Three Months Ended September 29, 2024 Balance, June 30, 2024 161,802 $ 20,225 $ 1,865,351 $ ( 44,104 ) $ 889,340 $ 2,730,812 Net issu Results of Operations 31 Item 3. Quantitative and Qualitative Disclosures about Market Risk 41 Item 4. Controls and Procedures 41 PART II. OTHER INFORMATION Item 1. Legal Proceedings 42 Item 1A. Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43 Item 4. Mine Safety Disclosures 43 Item 5. Other Information 44 Item 6. Exhibits 45 PART I Item 1: Financial Statements TERADYNE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 28, 2025 December 31, 2024 (in thousands, except per share amount) ASSETS Current assets: Cash and cash equivalents $ 272,700 $ 553,354 Marketable securities 25,017 46,312 Accounts receivable, less allowance for credit losses of $ 1,886  and $ 2,111  at September 28, 2025    and December 31, 2024, respectively 593,800 471,426 Inventories, net 366,752 298,492 Prepayments 469,240 429,086 Other current assets 22,649 17,727 Total current assets 1,750,158 1,816,397 Property, plant and equipment, net 569,939 508,171 Operating lease right-of-use assets, net 62,442 70,185 Marketable securities 129,658 124,121 Deferred tax assets 253,455 222,438 Retirement plans assets 12,702 11,994 Equity method investment 538,001 494,494 Other assets 73,118 49,620 Acquired intangible assets, net 54,708 15,927 Goodwill 519,550 395,367 Total assets $ 3,963,731 $ 3,708,714 LIABILITIES Current liabilities: Accounts payable $ 227,850 $ 134,792 Accrued employees’ compensation and withholdings 203,850 204,991 Deferred revenue and customer advances 133,050 107,710 Other accrued liabilities 138,717 90,777 Operating lease liabilities 19,026 18,699 Short-term debt 200,000 — Income taxes payable 72,496 67,610 Total current liabilities 994,989 624,579 Retirement plans liabilities 142,680 133,338 Long-term deferred revenue and customer advances 43,887 40,505 Deferred tax liabilities 6,890 1,038 Long-term other accrued liabilities 8,285 7,442 Long-term operating lease liabilities 49,725 57,922 Long-term incomes taxes payable — 24,596 Total liabilities 1,246,456 889,420 Commitments and contingencies (Note S) SHAREHOLDERS’ EQUITY Common stock, $ 0.125  par value, 1,000,000  shares authorized; 157,245  and 161,722  shares issued    and outstanding at September 28, 2025, and December 31, 2024, respectively 19,656 20,215 Additional paid-in capital 1,973,415 1,909,538 Accumulated other comprehensive loss (gain) 37,422 ( 81,220 ) Retained earnings 686,782 970,761 Total shareholders’ equity 2,717,275 2,819,294 Total liabilities and shareholders’ equity $ 3,963,731 $ 3,708,714 The accompanying notes, together with the Notes to Consolidated Financial Statements included in Teradyne’s Annual Report on Form 10-K for the year ended December 31, 2024, are an integral part of the condensed consolidated financial statements. 1 TERADYNE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the Three Months  Ended For the Nine Months  Ended September 28, 2025 September 29, 2024 September 28, 2025 September 29, 2024 (in thousands, except per share amount) (in thousands, except per share amount) Revenues: Products $ 632,104 $ 612,871 $ 1,716,718 $ 1,668,181 Services 137,106 124,427 389,969 398,815 Total revenues 769,210 737,298 2,106,687 2,066,996 Cost of revenues: Cost of products 270,634 253,129 727,198 704,129 Cost of services 49,270 47,655 141,834 161,228 Total cost of revenues (exclusive of acquired intangible    assets amortization shown separately below) 319,904 300,784 869,032 865,357 Gross profit 449,306 436,514 1,237,655 1,201,639 Operating expenses: Selling and administrative 169,144 157,649 484,182 461,307 Engineering and development 124,760 117,474 361,331 332,489 Acquired intangible assets amortization 3,514 4,748 11,820 14,108 Restructuring and other 6,585 4,578 23,472 11,018 Gain on sale of business — — — ( 57,486 ) Total operating expenses 304,003 284,449 880,805 761,436 Income from operations 145,303 152,065 356,850 440,203 Non-operating (income) expense: Interest income ( 3,191 ) ( 5,076 ) ( 12,618 ) ( 19,658 ) Interest expense 1,309 808 2,909 2,998 Other (income) expense, net ( 915 ) ( 2,651 ) 2,875 5,574 Income before income taxes and equity in net earnings of affiliate 148,100 158,984 363,684 451,289 Income tax provision 23,344 12,260 50,148 54,095 Income before equity in net earnings of affiliate 124,756 146,724 313,536 397,194 Equity in net earnings of affiliate ( 5,198 ) ( 1,075 ) ( 16,709 ) ( 1,075 ) Net income $ 119,558 $ 145,649 $ 296,827 $ 396,119 Net income per common share: Basic $ 0.75 $ 0.89 $ 1.85 $ 2.51 Diluted $ 0.75 $ 0.89 $ 1.85 $ 2.42 Weighted average common shares—basic 158,595 163,002 160,021 157,951 Wei

The provided excerpt is only the Form 10‑Q cover page for GE Vernova Inc. (GEV) for quarter ended 2026‑06‑30, with no financial statements, MD&A, segment results, guidance, backlog, risks, or other performance details included. As-is, it contains almost no trade-relevant incremental information beyond confirming the filing/period and listing details.

This excerpt is only the cover page/header of Sleep Number’s Form 10-Q for the quarter ended April 4, 2026. It contains filing metadata (issuer, ticker, exchange, address) but no financial statements, MD&A, guidance, risks, or operational commentary. As a result, it is not directly actionable for trading beyond confirming the filing exists.

The provided excerpt is only the cover/filing header of SoundHound AI, Inc.’s 10‑Q for the quarter ended 2026‑03‑31. It contains listing/security identifiers (SOUN, SOUNW) but no financial statements, MD&A, guidance, risk updates, liquidity details, or material events. As a result, there is insufficient information to form high-confidence, actionable bullish/bearish theses beyond generic “company filed its 10‑Q” metadata.

The provided excerpt is only the boilerplate cover/filing-status section of Teucrium Commodity Trust’s Form 10‑Q for period ended 2026‑03‑31, with no portfolio holdings, performance, risk, or material updates included. As-is, it contains no actionable investment information beyond confirming the existence of the filing and the issuer/ticker identity (WEAT).

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This excerpt is essentially the cover page of CleanSpark, Inc.’s Form 10-Q for the quarter ended March 31, 2026. It contains identifiers (CIK/file no.), listing venue, and security descriptions (common stock and redeemable warrants with specific exercise terms), but no operating/financial results, guidance, risks, or MD&A detail. Actionability is therefore limited to capital-structure/dilution considerations around the listed warrant.

This excerpt of AST SpaceMobile’s 10‑Q is largely SEC cover-page/boilerplate (registrant info, exchange listing, filing compliance) and contains no financial results, guidance, liquidity, risk-factor updates, or operating metrics. As provided, it does not create a clear tradable catalyst beyond confirming continued reporting/listing status.

This excerpt only includes the cover page of Super Micro Computer, Inc.’s Form 10‑Q for the quarter ended March 31, 2026. It confirms the filing, issuer identity, listing (Nasdaq), and ticker (SMCI), but contains no financial results, guidance, risks, or MD&A content to support a directional investment view.