Revenue

3 Months Ended

Mar. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue

E. REVENUE

Disaggregation of Revenue

The following table provides information about disaggregated revenue by timing of revenue recognition, primary geographical market, and major product lines.

		Semiconductor Test						Robotics		Product Test		Total Reportable Segments
		System-on-a-chip		Memory		IST								Corporate and Eliminations		Total
	(in thousands)
For the Three Months Ended March 30, 2025
Timing of Revenue Recognition
Point in Time		$	337,691	$	101,662	$	22,892	$	67,146	$	56,559	$	585,950	$	—	$	585,950
Over Time			68,700		7,745		3,814		1,841		17,630	$	99,730		—	$	99,730
Total		$	406,391	$	109,407	$	26,706	$	68,987	$	74,189	$	685,680	$	—	$	685,680
Geographical Market
Asia Pacific		$	358,103	$	107,681	$	26,016	$	15,062	$	25,546	$	532,408	$	—	$	532,408
Americas			35,052		917		690		32,471		40,785	$	109,915		—	$	109,915
Europe, Middle East and Africa			13,236		809		—		21,454		7,858	$	43,357		—	$	43,357
Total		$	406,391	$	109,407	$	26,706	$	68,987	$	74,189	$	685,680	$	—	$	685,680
For the Three Months Ended March 31, 2024
Timing of Revenue Recognition
Point in Time		$	229,592	$	102,436	$	16,634	$	85,183	$	62,353	$	496,198	$	—	$	496,198
Over Time			72,716		7,510		5,882		2,471		15,042	$	103,621		—	$	103,621
Total		$	302,308	$	109,946	$	22,516	$	87,654	$	77,395	$	599,819	$	—	$	599,819
Geographical Market
Asia Pacific		$	270,567	$	95,606	$	19,866	$	14,579	$	23,056	$	423,674	$	—	$	423,674
Americas			22,551		9,052		2,650		34,630		39,768	$	108,651		—	$	108,651
Europe, Middle East and Africa			9,190		5,288		—		38,445		14,571	$	67,494		—	$	67,494
Total		$	302,308	$	109,946	$	22,516	$	87,654	$	77,395	$	599,819	$	—	$	599,819

Contract Balances

During the three months ended March 30, 2025 and March 31, 2024, Teradyne recognized $25.3 million and $28.2 million, respectively, that was included within the deferred revenue and customer advances balances at the beginning of the period. This revenue primarily relates to undelivered hardware, extended warranties, training, application support, and post contract support. Each of these represents a distinct performance obligation. As of March 30, 2025, Teradyne had $1,003.0 million of unsatisfied performance obligations. Teradyne expects to recognize approximately 87.5% of the remaining performance obligations in the next 12 months and the remainder in 1-3 years.

Deferred revenue and customer advances consist of the following and are included in short and long-term deferred revenue and customer advances on the balance sheet:

	March 30, 2025		December 31, 2024
	(in thousands)
Maintenance, service and training	$	55,795	$	58,473
Customer advances, undelivered elements and other		59,217		48,118
Extended warranty		44,312		41,624
Total deferred revenue and customer advances	$	159,324	$	148,215

Accounts Receivable

During the three months ended March 30, 2025 and March 31, 2024, Teradyne sold certain trade accounts receivables on a non-recourse basis to third-party financial institutions pursuant to factoring agreements. During the three months ended March 30, 2025 and March 31, 2024, total trade accounts receivable sold under the factoring agreements were $10.9 million and $23.4 million, respectively. Factoring fees for the sales of receivables were recorded in interest expense and were not material. Teradyne accounted for these transactions as sales of receivables and presented cash proceeds as cash provided by operating activities in the consolidated statements of cash flows.