Revenue

6 Months Ended

Jun. 29, 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
		System on-a-Chip		Memory		IST
	(in thousands)
For the Three Months Ended June 29, 2025
Timing of Revenue Recognition
Point in Time		$	325,588	$	51,993	$	28,827	$	72,724	$	66,159	$	545,291
Over Time			71,000		8,950		5,520		2,142		18,894	$	106,506
Total		$	396,588	$	60,943	$	34,347	$	74,866	$	85,053	$	651,797
Geographical Market
Asia Pacific		$	364,883	$	58,467	$	32,468	$	15,939	$	34,901	$	506,658
Americas			15,920		2,077		1,879		27,160		42,229	$	89,265
Europe, Middle East and Africa			15,785		399		—		31,767		7,923	$	55,874
Total		$	396,588	$	60,943	$	34,347	$	74,866	$	85,053	$	651,797
For the Three Months Ended June 30, 2024
Timing of Revenue Recognition
Point in Time		$	343,536	$	121,662	$	12,463	$	88,217	$	63,329	$	629,207
Over Time			70,048		7,318		4,889		2,030		16,387	$	100,672
Total		$	413,584	$	128,980	$	17,352	$	90,247	$	79,716	$	729,879
Geographical Market
Asia Pacific		$	381,631	$	124,497	$	17,304	$	20,203	$	33,248	$	576,883
Americas			20,211		3,254		48		35,010		33,537	$	92,060
Europe, Middle East and Africa			11,742		1,229		—		35,034		12,931	$	60,936
Total		$	413,584	$	128,980	$	17,352	$	90,247	$	79,716	$	729,879
For the Six Months Ended June 29, 2025
Timing of Revenue Recognition
Point in Time		$	663,278	$	153,656	$	51,719	$	139,870	$	122,717	$	1,131,240
Over Time			139,700		16,695		9,334		3,983		36,525	$	206,237
Total		$	802,978	$	170,351	$	61,053	$	143,853	$	159,242	$	1,337,477
Geographical Market
Asia Pacific		$	722,985	$	166,149	$	58,484	$	31,001	$	60,447	$	1,039,066
Americas			50,972		2,994		2,569		59,631		83,014	$	199,180
Europe, Middle East and Africa			29,021		1,208		—		53,221		15,781	$	99,231
Total		$	802,978	$	170,351	$	61,053	$	143,853	$	159,242	$	1,337,477
For the Six Months Ended June 30, 2024
Timing of Revenue Recognition
Point in Time		$	573,127	$	224,098	$	29,096	$	173,400	$	125,684	$	1,125,405
Over Time			142,764		14,828		10,771		4,501		31,429	$	204,293
Total		$	715,891	$	238,926	$	39,867	$	177,901	$	157,113	$	1,329,698
Geographical Market
Asia Pacific		$	652,197	$	220,103	$	37,169	$	34,782	$	56,306	$	1,000,557
Americas			42,762		12,306		2,698		69,640		73,305	$	200,711
Europe, Middle East and Africa			20,932		6,517		—		73,479		27,502	$	128,430
Total		$	715,891	$	238,926	$	39,867	$	177,901	$	157,113	$	1,329,698

Contract Balances

During the three and six months ended June 29, 2025, Teradyne recognized $22.2 million and $47.5 million, respectively, that was included within the deferred revenue and customer advances balances at the beginning of the period. During the three and six months ended June 30, 2024, Teradyne recognized $18.7 million and $46.9 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 June 29, 2025, Teradyne had $930.8 million of unsatisfied performance obligations. Teradyne expects to recognize approximately 86.4% 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:

	June 29, 2025		December 31, 2024
	(in thousands)
Maintenance, service and training	$	59,876	$	58,473
Customer advances, undelivered elements and other		57,776		48,118
Extended warranty		46,751		41,624
Total deferred revenue and customer advances	$	164,403	$	148,215

Accounts Receivable

During the three and six months ended June 29, 2025, and June 30, 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 June 29, 2025, and June 30, 2024, total trade accounts receivable sold under the factoring agreements were $12.2 million and $57.3 million, respectively. During the six months ended June 29, 2025, and June 30, 2024, total trade accounts receivable sold under the factoring agreements were $23.1 million and $80.7 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 condensed consolidated statements of cash flows.