The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.

Achieved the long-term target model of 47% non-GAAP gross margins at an $850 million annual revenue run rate ahead of schedule, driven by high-performance compute (HPC) and advanced packaging trends.

Performance attribution is credited to significant operational improvements, including better manufacturing yields, reduced cycle times, and more effective workforce deployment following early Q1 restructuring.

DRAM probe card revenue reached record levels due to supply-constrained environments where customers are prioritizing High Bandwidth Memory (HBM) and DDR5 designs.

Foundry and logic growth was primarily driven by networking applications and a surge in data center CPU demand linked to increasing compute intensity for AI inference.

Market share gains in HBM are accelerating as a second major customer increased its adoption of the proprietary Smart Matrix technology for high-speed testing, which is capable of supporting future HBM4 data rates.

Successfully integrated the Keystone Photonics acquisition, enabling a unified roadmap for electro-optical probe cards to address co-packaged optics (CPO) requirements.

Q2 guidance assumes another record revenue quarter with sequential increases in gross margin and EPS, though management expects the pace of profitability improvement to moderate as current capacity limits are reached.

The Farmers Branch facility is on track to begin operations late in 2026, providing a foundation for structurally lower costs and the next phase of revenue growth through 2027.

Management raised 2026 CPO revenue expectations to the high end of the $10 million to $20 million range, driven by accelerating volumes of photonic integrated circuit (PIC) chips.

Strategic focus remains on 'Insertion 1' for CPO testing, which ensures known good die on the PIC wafer before expensive stacking processes occur.

A new target financial model and long-term strategic priorities will be introduced at the upcoming Investor Day on May 11.

Non-GAAP gross margin overperformance included approximately 200 basis points of transitory timing items related to customer-driven priorities and spend timing.

A durable 50 basis point margin benefit was realized from the discontinuation of IEPA tariffs, replaced by lower Section 122 tariffs, while another 50 basis points of improvement came from the faster realization of restructuring cost savings.

Management identified a potential $9 million to $11 million refund opportunity for previously paid tariffs following a recent Supreme Court ruling, though this is not yet factored into guidance.

Restructuring actions announced in January 5 resulted in $21.5 million of GAAP-to-non-GAAP reconciling items in the first quarter.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.

Management clarified that a leading HPC customer became a 10% customer specifically due to networking probe card demand, distinct from ongoing GPU qualifications.

GPU-related revenue of approximately $20 million is still expected in the second half of the year as production qualifications at the world's largest foundry near completion.

Management acknowledged they are running at very high utilization and 'squeezing more juice' out of the existing footprint through yield and cycle time improvements.

While incremental output increases are possible through 2026, significant capacity expansion is dependent on the 2027 ramp of the Texas facility.

Focusing on Insertion 1 (wafer-level optical probing) is a strategic bet because it solves the most difficult optical problems that are applicable to all subsequent test stages.

This stage is currently critical for customers because PIC yields are not yet high enough to skip early testing before expensive advanced packaging steps.

HBM probe card business grew over 50% year-over-year, with Q2 growth specifically benefiting from a second customer adopting Smart Matrix technology for HBM4.

Management intends to eventually become a leading supplier to all three major DRAM manufacturers as test intensity continues to rise.

One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.