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Reports › TER › 10-Q FY2026

SEC filings, compared

What changed in Teradyne,'s 10-Q for the quarter ended June 28, 2026

Compared with the 10-Q for the quarter ended June 29, 2025. Part I, Item 2 and Part II, Item 1A analysed; every summary checked against the quoted filing text.

Registrant
TERADYNE, INC · TER
This filing
0001193125-26-327715 ↗ · filed Jul 31, 2026
Compared with
0000950170-25-101248 ↗ · filed Aug 1, 2025
Processed
Sep 20, 2026 UTC · parser-v5 · classify-v4 · select-v1

Research tool. Describes what filings say. Not investment advice. Verify independently. Read the cited paragraph before relying on it.

How a report is made

48 material changes among 83 changed paragraphs

18 shown by default across the three sections below; each section's "Show all" reaches the rest, in filing order.

Numbers from XBRL

Each figure is the one the filing itself tagged, taken from the filing that reported it. Not written by a model.

ConceptFY2026FY2025Change (our arithmetic)
Revenueus-gaap:Revenues1,328,990,000USD · Mar 30, 2026 to Jun 28, 2026651,797,000USD · Mar 31, 2025 to Jun 29, 2025+677,193,000+103.9%
Net income or lossus-gaap:NetIncomeLoss374,533,000USD · Mar 30, 2026 to Jun 28, 202678,372,000USD · Mar 31, 2025 to Jun 29, 2025+296,161,000+377.9%
Cash and cash equivalentsus-gaap:CashAndCashEquivalentsAtCarryingValue349,538,000USD · at Jun 28, 2026339,252,000USD · at Jun 29, 2025+10,286,000+3%
Net cash from operating activitiesus-gaap:NetCashProvidedByUsedInOperatingActivities734,262,000USD · Jan 1, 2026 to Jun 28, 2026343,726,000USD · Jan 1, 2025 to Jun 29, 2025+390,536,000+113.6%

Values as tagged in the filing's inline XBRL, resolved by accession rather than by period matching. When a value is not tagged, we show that instead of estimating it. FY2026: 0001193125-26-327715 · FY2025: 0000950170-25-101248

What the company says for the first time

Paragraphs with no counterpart in the prior filing.

8 material additions

Part I, Item 2 · MD&A

8 of 8 shown · In filing order, too few to rank

01AddedPart I, Item 2 › Overview

Summary · quote-checked

Added disclosure of a joint venture formation, controlling ownership interest, purchase price, and inclusion of results in the Product Test Segment.

The paragraph introduces a new transaction, ownership structure, financial commitment, and business dependency, materially changing disclosed obligations and operations.

Filing text · FY2025 10-Q · filed Aug 1, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Jul 31, 2026

[added] On April 8, 2026, we and HTP Holding SAL ("MultiLane") formed a joint venture, MultiLane Test Products Holding LLP ("MLTP"), to which MultiLane contributed the assets of its test and measurement business. We obtained a controlling 75% ownership interest in MLTP, which is expected to serve the growing demand from the AI Data Center equipment market by accelerating the development of test solutions for critical high speed data connections. The purchase price of MLTP was approximately $157.8 million, subject to customary post-closing adjustments, and the results will be included in our Product Test Segment.

Cite this change

"On April 8, 2026, we and HTP Holding SAL ("MultiLane") formed a joint venture, MultiLane Test Products Holding LLP ("MLTP"), to which MultiLane contributed the assets of its test and measurement business. We obtained a controlling 75% ownership interest in MLTP, which is expected to serve the growing demand from the AI Data Center equipment market by accelerating the development of test solutions for critical high speed data connections. The purchase price of MLTP was approximately $157.8 million, subject to customary post-closing adjustments, and the results will be included in our Product Test Segment."

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

02AddedPart I, Item 2 › Government Regulations

Summary · quote-checked

Added disclosure of exposure to numerous trade-related laws and regulations and potential gaps in the company’s compliance program.

The new paragraph introduces regulatory obligations and a specific risk that the trade compliance program may fail to identify or prevent violations.

Filing text · FY2025 10-Q · filed Aug 1, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Jul 31, 2026

[added] We are subject to numerous U.S. and foreign laws and regulations, including, without limitation, tariffs, trade sanctions, trade barriers, trade embargoes, regulations relating to import-export control, technology transfer restrictions, and other laws and regulations. However, our trade compliance program may not identify or prevent all potential violations, and gaps in our program could be discovered, possibly resulting in fines, penalties, or other sanctions as a result. Additionally, U.S. and foreign governmental authorities have taken, and may continue to take, administrative, legislative or regulatory action that could impact our operations. We believe that our operations are in material compliance with applicable trade regulations. The costs we incurred in complying with applicable trade regulations for the six months ended June 28, 2026 were not material, however, compliance with these laws has limited our ability to compete in certain regions. It is possible that future developments, including changes in laws and regulations or government policies, could lead to material costs, and such costs may have a material adverse effect on our future business or prospects.

Cite this change

"We are subject to numerous U.S. and foreign laws and regulations, including, without limitation, tariffs, trade sanctions, trade barriers, trade embargoes, regulations relating to import-export control, technology transfer restrictions, and other laws and regulations. However, our trade compliance program may not identify or prevent all potential violations, and gaps in our program"

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

03AddedPart I, Item 2 › Government Regulations

Summary · quote-checked

Added disclosure regarding trade-regulation compliance, governmental actions, sanctions, regional competition limits, and potential future compliance costs.

The new paragraph introduces regulatory risks, compliance obligations, sanctions exposure, operational constraints, and potential material costs, changing the substance of the MD&A disclosure.

Filing text · FY2025 10-Q · filed Aug 1, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Jul 31, 2026

We are subject to numerous U.S. and foreign laws and regulations, including, without limitation, tariffs, trade sanctions, trade barriers, trade embargoes, regulations relating to import-export control, technology transfer restrictions, and other laws and regulations. However, our trade compliance program may not identify or prevent all potential violations, and gaps in our program [added] could be discovered, possibly resulting in fines, penalties, or other sanctions as a result. Additionally, U.S. and foreign governmental authorities have taken, and may continue to take, administrative, legislative or regulatory action that could impact our operations. We believe that our operations are in material compliance with applicable trade regulations. The costs we incurred in complying with applicable trade regulations for the six months ended June 28, 2026 were not material, however, compliance with these laws has limited our ability to compete in certain regions. It is possible that future developments, including changes in laws and regulations or government policies, could lead to material costs, and such costs may have a material adverse effect on our future business or prospects.

Cite this change

"Additionally, U.S. and foreign governmental authorities have taken, and may continue to take, administrative, legislative or regulatory action that could impact our operations."

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

04AddedPart I, Item 2 › Second Quarter 2026 Compared to Second Quarter 2025

Summary · quote-checked

Added an MD&A explanation that interest expense increased by $2.2 million primarily because debt was higher during part of the period.

This newly added paragraph reports a changed expense and identifies its stated driver, adding substantive information about debt-related interest costs.

Filing text · FY2025 10-Q · filed Aug 1, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Jul 31, 2026

[added] Interest expense increased by $2.2 million primarily due to higher debt during a portion of the period.

Cite this change

"Interest expense increased by $2.2 million primarily due to higher debt during a portion of the period."

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

05AddedPart I, Item 2 › Six Months 2026 Compared to Six Months 2025

Summary · quote-checked

Added an explanation that interest expense increased by $4.5 million primarily because of outstanding debt balances during portions of 2026.

The new MD&A paragraph adds a reported expense change and identifies outstanding debt balances as its primary driver, introducing substantive information about financing costs and debt exposure.

Filing text · FY2025 10-Q · filed Aug 1, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Jul 31, 2026

[added] Interest expense increased by $4.5 million primarily due to outstanding debt balances during portions of 2026.

Cite this change

"Interest expense increased by $4.5 million primarily due to outstanding debt balances during portions of 2026."

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

06AddedPart I, Item 2 › Six Months 2026 Compared to Six Months 2025

Summary · quote-checked

Added explanation that lower tax-credit benefits were partly offset by increased equity-compensation benefits and a projected geographic income shift.

The new text introduces substantive drivers of the reported tax change, including both realized benefit changes and a projected geographic income shift.

Filing text · FY2025 10-Q · filed Aug 1, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Jul 31, 2026

The effective tax rate for the six months ended June 28, 2026, and June 29, 2025, was 14.2% and 12.4%, respectively. The increase in the effective tax rate from the six months ended June 29, 2025, to the six months ended June 28, 2026, is primarily [added] attributable to lower benefits from tax credits partially offset by increased benefits from equity compensation and a projected shift in the geographic distribution of income.

Cite this change

"attributable to lower benefits from tax credits partially offset by increased benefits from equity compensation and a projected shift in the geographic distribution of income."

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

07AddedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

A new liquidity table discloses cash, marketable securities, total liquidity, and short-term debt balances and changes.

The newly appearing numeric table indicates the existence of liquidity and debt disclosures, which is material under the numeric-tables rule.

Filing text · FY2025 10-Q · filed Aug 1, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Jul 31, 2026
[added] |[added] June 28, 2026 | December 31, 2025 | Change[added] (in millions)[added] Cash, cash equivalents and marketable securities:[added] Cash and cash equivalents | $ | 349.5 | $ | 293.8 | $ | 55.7[added] Short-term marketable securities | 5.3 | 28.2 | (22.9 | )[added] Long-term marketable securities | 162.3 | 126.3 | 36.0[added] Total cash, cash equivalents and marketable securities: | $ | 517.1 | $ | 448.3 | $ | 68.8[added] |[added] Short-term debt | $ | - | $ | 200.0 | $ | (200.0 | )
Cite this change

"Total cash, cash equivalents and marketable securities: | $ | 517.1 | $ | 448.3 | $ | 68.8"

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

08AddedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

A new cash-flow table was added, presenting operating, investing, financing, exchange-rate, and net cash changes.

A newly appearing numeric table is material under the rubric because it changes the filing’s disclosure of liquidity and cash-flow information.

Filing text · FY2025 10-Q · filed Aug 1, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Jul 31, 2026
[added] |[added] June 28, 2026 | June 29, 2025 | Change[added] (in millions)[added] Net cash (used for) provided by:[added] Operating activities | 734.3 | 343.7 | 390.6[added] Investing activities | (338.6 | ) | (240.2 | ) | (98.4 | )[added] Financing activities | (341.0 | ) | (313.6 | ) | (27.4 | )[added] Effects of exchange rate changes on cash and cash equivalents | 1.1 | (4.0 | ) | 5.1[added] Net increase (decrease) in cash and cash equivalents | $ | 55.8 | $ | (214.1 | ) | $ | 269.9[added] |[added] Net change in operating assets and liabilities, net of businesses acquired | (142.1 | ) | 61.7 | (203.8 | )
Cite this change

"Net increase (decrease) in cash and cash equivalents | $ | 55.8 | $ | (214.1 | ) | $ | 269.9"

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

What the company no longer says

Paragraphs of the prior filing that this filing dropped. Only last year's text can show these.

11 material removals

Part I, Item 2 · MD&A

5 of 11 shown · Ordered by the model, quote-checked

01RemovedPart I, Item 2 › Overview

Summary · quote-checked

The MD&A overview no longer discloses the Quantifi Photonics acquisition, its purchase price, or expected operational benefits.

The removed paragraph disclosed a specific acquisition, consideration, business-segment inclusion, and intended technology integration; its disappearance changes the disclosed transaction and dependency information.

Why the model ranked it here

The removal obscures a specific acquisition, its consideration, and the planned integration that could affect how clients understand the company’s technology strategy and dependencies.

Filing text · FY2025 10-Q · filed Aug 1, 2025

[removed] On May 31, 2025, we acquired privately held Quantifi Photonics ("Quantifi"), a leader in PIC test solutions for a total purchase price of approximately $127.2 million. This acquisition is expected to enable the delivery of scalable PIC test solutions and is included in our Product Test segment. Over time, we also intend to leverage the engineering expertise and technology to enhance functionality and create additional differentiation in our Semiconductor Test business, specifically with integration into our UltraFlexPlus platform.

Filing text · FY2026 10-Q · filed Jul 31, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"On May 31, 2025, we acquired privately held Quantifi Photonics ("Quantifi"), a leader in PIC test solutions for a total purchase price of approximately $127.2 million."

Teradyne,, Form 10-Q for FY2025, Part I, Item 2, accession 0000950170-25-101248, filed 1 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000095017025101248/ter-20250629.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

02RemovedPart I, Item 2 › Overview

Summary · quote-checked

The current filing removes disclosure of Teradyne’s acquisition of Infineon’s automated test equipment technology and development team.

The removed paragraph disclosed a specific acquisition, purchase price, acquired resources, customer relationship, and segment classification—substantive transaction and dependency information.

Why the model ranked it here

The removal obscures an acquisition of automated test technology and an associated development team, along with the related customer and segment implications.

Filing text · FY2025 10-Q · filed Aug 1, 2025

[removed] On January 31, 2025, we acquired Infineon Technologies AG's ("Infineon") automated test equipment technology and associated development team ("AET") based in Regensburg, Germany for a total purchase price of 17.6 million Euros, equivalent to $18.3 million. AET adds resources and expertise to our company and strengthens the relationship between Teradyne and this key customer. AET is included in our Semiconductor Test segment.

Filing text · FY2026 10-Q · filed Jul 31, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"On January 31, 2025, we acquired Infineon Technologies AG's ("Infineon") automated test equipment technology and associated development team ("AET") based in Regensburg, Germany for a total purchase price of 17.6 million Euros, equivalent to $18.3 million."

Teradyne,, Form 10-Q for FY2025, Part I, Item 2, accession 0000950170-25-101248, filed 1 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000095017025101248/ter-20250629.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

03RemovedPart I, Item 2 › Six Months 2025 Compared to Six Months 2024

Summary · quote-checked

Removed disclosure of a $57.5 million gain associated with the sale of DIS to Technoprobe.

The removed sentence discloses a specific transaction and related gain, eliminating a substantive event from the MD&A narrative.

Why the model ranked it here

The removal eliminates disclosure of a material business sale and the gain associated with it, changing the reader’s understanding of reported results and portfolio actions.

Filing text · FY2025 10-Q · filed Aug 1, 2025

[removed] During the six months ended June 30, 2024, we recorded a gain of $57.5 million associated with the sale of DIS to Technoprobe.

Filing text · FY2026 10-Q · filed Jul 31, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"During the six months ended June 30, 2024, we recorded a gain of $57.5 million associated with the sale of DIS to Technoprobe."

Teradyne,, Form 10-Q for FY2025, Part I, Item 2, accession 0000950170-25-101248, filed 1 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000095017025101248/ter-20250629.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

04RemovedPart I, Item 2 › Overview

Summary · quote-checked

Removed disclosure that foreign-currency-denominated Robotics revenue could face slower growth from a strengthening U.S. dollar in 2025.

The removed paragraph disclosed a currency exposure and its stated adverse effect on Robotics revenue growth, changing the substance of the company’s risk and outlook disclosures.

Why the model ranked it here

The removal eliminates the stated foreign-currency exposure and its adverse effect on Robotics revenue growth, changing the disclosed risk outlook.

Filing text · FY2025 10-Q · filed Aug 1, 2025

[removed] While revenues in our test businesses are predominantly in U.S. dollars, the majority of our Robotics revenue is denominated in foreign currencies. Strengthening of the U.S. dollar would negatively affect Robotics revenue growth in 2025.

Filing text · FY2026 10-Q · filed Jul 31, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"While revenues in our test businesses are predominantly in U.S. dollars, the majority of our Robotics revenue is denominated in foreign currencies. Strengthening of the U.S. dollar would negatively affect Robotics revenue growth in 2025."

Teradyne,, Form 10-Q for FY2025, Part I, Item 2, accession 0000950170-25-101248, filed 1 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000095017025101248/ter-20250629.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

05RemovedPart I, Item 2 › Recently Issued Accounting Pronouncements

Summary · quote-checked

The disclosure about ASU 2023-09’s expanded income-tax reporting requirements, effective date, adoption basis and expected effects was removed.

The removed paragraph disclosed a new accounting disclosure obligation and the company’s planned adoption, not merely a date or presentation change.

Why the model ranked it here

The removal obscures a new income-tax disclosure obligation and the company’s planned adoption approach, which affects the information clients will receive in future filings.

Filing text · FY2025 10-Q · filed Aug 1, 2025

[removed] In December 2023, the FASB issued ASU 2023-09 -"Income Taxes (Topic 740): Improvements to Income Tax Disclosures", which requires expanded disclosures relating to the tax rate reconciliation, income taxes paid, income (loss) before income tax expense (benefit) and income tax expense (benefit), requiring a greater disaggregation of information for each. The provisions of ASU 2023-09 are effective for fiscal years beginning after December 15, 2024. We will apply the amendments in this update on a prospective basis. This ASU will have no impact on results of operations, cash flows or financial condition.

Filing text · FY2026 10-Q · filed Jul 31, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"In December 2023, the FASB issued ASU 2023-09 -"Income Taxes (Topic 740): Improvements to Income Tax Disclosures", which requires expanded disclosures relating to the tax rate reconciliation, income taxes paid, income (loss) before income tax expense (benefit) and income tax expense (benefit), requiring a greater disaggregation of information for each. The provisions of ASU 2023-09 are effective for fiscal years beginning after December 15, 2024. We will apply the amendments in this update on a prospective basis. This ASU will have no impact on results of operations, cash flows or financial condition."

Teradyne,, Form 10-Q for FY2025, Part I, Item 2, accession 0000950170-25-101248, filed 1 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000095017025101248/ter-20250629.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

Show all 11 in Part I, Item 2 (6 more, in filing order)

What the company says differently

Paragraphs that changed between the two filings, shown as a word diff.

29 material changes

Part I, Item 2 · MD&A

5 of 29 shown · Ordered by the model, quote-checked

01ChangedPart I, Item 2 › Six Months 2026 Compared to Six Months 2025

Summary · quote-checked

Semiconductor Test revenue growth accelerated with changed AI-related drivers; Robotics shifted from decline to growth, and Product Test growth with Defense and Aerospace demand was added.

The MD&A changes revenue directions, magnitudes, and stated drivers, removes a divestiture and market-weakness explanation, and adds a new Product Test growth explanation.

Why the model ranked it here

The company’s major segments shifted from mixed or declining performance to broad growth, with artificial-intelligence, Defense and Aerospace demand replacing prior weakness and divestiture explanations.

Filing text · FY2025 10-Q · filed Aug 1, 2025

The increase in Semiconductor Test revenues of [removed] $39.7 million, or [removed] 4.0%, was driven primarily by higher sales in [removed] mobility and in compute for artificial intelligence [removed] applications partially offset by the divestiture of the DIS business and declines in memory. The decrease in Robotics revenues of [removed] $34.0 million, or [removed] 19.1%, was primarily due to lower sales of collaborative robotic arms due to market weakness.

Filing text · FY2026 10-Q · filed Jul 31, 2026

The increase in Semiconductor Test revenues of [added] $1,198.2 million, or [added] 115.8%, was driven primarily by higher sales in [added] compute and memory primarily related to artificial intelligence [added] applications. The increase in Robotics revenues of $47.3 million, or 32.9%, was primarily due to higher sales of collaborative robotic arms. The increase in Product Test revenues of [added] $28.5 million, or [added] 17.9%, was driven primarily by AI-related demand, combined with growth in Defense and Aerospace.

Cite this change

"The increase in Semiconductor Test revenues of $1,198.2 million, or 115.8%, was driven primarily by higher sales in compute and memory primarily related to artificial intelligence applications. The increase in Robotics revenues of $47.3 million, or 32.9%, was primarily due to higher sales of collaborative robotic arms. The increase in Product Test revenues of $28.5 million, or 17.9%, was driven primarily by AI-related demand, combined with growth in Defense and Aerospace."

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

02ChangedPart I, Item 2 › Second Quarter 2026 Compared to Second Quarter 2025

Summary · quote-checked

Revenue trends reversed or changed across Semiconductor Test, Product Test, and Robotics, with new AI-related and product-specific drivers.

The paragraph changes directions, reported amounts, percentages, and stated drivers, including a new artificial-intelligence demand explanation; these are substantively different MD&A results narratives.

Why the model ranked it here

Semiconductor Test revenue shifted from decline to sharp growth driven by artificial-intelligence-related compute and memory demand, materially changing the business outlook.

Filing text · FY2025 10-Q · filed Aug 1, 2025

The [removed] decrease in Semiconductor Test revenues of [removed] $68.0 million, or [removed] 12.1%, was driven primarily by [removed] lower sales for memory applications. The [removed] decrease in Robotics revenues of [removed] $15.3 million, or [removed] 17.0%, was primarily due to lower sales of collaborative robotic arms due to market weakness. The increase in [removed] Product Test revenues of [removed] $5.4 million, or [removed] 6.8%, was driven by higher Defense/Aerospace, Production Board Test, and wireless tester sales.

Filing text · FY2026 10-Q · filed Jul 31, 2026

The [added] increase in Semiconductor Test revenues of [added] $629.9 million, or [added] 128.1%, was driven primarily by [added] higher sales in compute and memory related to artificial intelligence applications. The [added] increase in Product Test revenues of [added] $22.1 million, or [added] 26.0%, was driven by increased AI-related demand, combined with growth in Defense and Aerospace. The increase in [added] Robotics revenues of [added] $25.0 million, or [added] 33.4%, was primarily due to higher sales of collaborative robotic arms and autonomous mobile robots.

Cite this change

"The increase in Semiconductor Test revenues of $629.9 million, or 128.1%, was driven primarily by higher sales in compute and memory related to artificial intelligence applications."

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

03ChangedPart I, Item 2 › Overview

Summary · quote-checked

The overview shifts from declining revenue and Robotics losses to record Semiconductor Test and Robotics growth, new market drivers, and planned investments for 2027.

The disclosure changes reported performance, business drivers, Robotics results, and management outlook, including a loss-to-growth shift and a commitment to additional investment.

Why the model ranked it here

Management’s overview changed from describing declining revenue and Robotics losses to highlighting record Semiconductor Test performance, Robotics growth and planned investment.

Filing text · FY2025 10-Q · filed Aug 1, 2025

[removed] Although total company revenue in the second quarter declined year over year and sequentially, we have seen demand in Semiconductor Test for the second half of the year strengthening, specifically in AI [removed] Compute, networking and memory. In the second quarter, Robotics was impacted by ongoing macroeconomic challenges and leadership changes, which resulted in a quarterly loss. We are focused on our channel transformation strategy as we transition toward serving large direct customers and we are [removed] continuing to cautiously manage operating expenses to deliver profitability in Robotics in the mid-term.

Filing text · FY2026 10-Q · filed Jul 31, 2026

[added] For the second consecutive quarter, our Semiconductor Test segment revenue, driven primarily by sustained demand in Artificial Intelligence ("AI") applications across both compute and memory markets, hit a new record high. Continued investment by hyperscalers, vertically integrated producers, and customers in AI [added] data center infrastructure supported the robust compute market revenue. In memory, revenue exceeded $200 million for the third consecutive quarter, reflecting strong demand for high bandwidth memory ("HBM") and DRAM test solutions supporting AI compute deployments, as well as renewed demand for NAND final test applications. Strong Robotics revenue of $100 million, marked the fifth consecutive quarter of sequential growth, driven primarily by demand from electronics manufacturing and semiconductor customers, which has become the segment's largest end-market. Within Product Test Group, revenue increased 26% year over year and 33% sequentially, reflecting broad-based growth across multiple markets and applications. The current quarter record performance is the result of prior investments and our current strategy and execution model. Looking ahead, we see significant future opportunities, and we are [added] committed to judicious additional investments today, which we believe are required to continue growing our business in 2027.

Cite this change

"For the second consecutive quarter, our Semiconductor Test segment revenue, driven primarily by sustained demand in Artificial Intelligence ("AI") applications across both compute and memory markets, hit a new record high."

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

04ChangedPart I, Item 2 › Overview

Summary · quote-checked

The disclosure changes from completed Quantifi and AET acquisitions to $165.6 million of acquisition consideration for a controlling interest in MLTP, with different shareholder-return amounts.

The acquisition description, counterparty, transaction structure, and stated cash consideration changed, alongside capital-return figures; this is substantively different from a period roll-forward.

Why the model ranked it here

The filing now identifies a controlling-interest acquisition in MLTP and materially different capital deployment, making the company’s acquisition and shareholder-return activity newly significant.

Filing text · FY2025 10-Q · filed Aug 1, 2025

Our capital allocation plan will continue to be balanced between investing in organic and inorganic growth and returning cash to shareholders through share repurchases and dividends. During the first six months of [removed] 2025 we completed the acquisitions of Quantifi and AET and additionally, we returned [removed] $313.5 million to shareholders through [removed] $274.9 million of share buybacks and [removed] $38.6 million of dividend payments.

Filing text · FY2026 10-Q · filed Jul 31, 2026

Our capital allocation plan will continue to be balanced between investing in organic and inorganic growth and returning cash to shareholders through share repurchases and dividends. During the first six months of [added] 2026, the aggregate cash consideration paid for acquisitions, net of cash acquired, totaled $165.6 million, primarily due to the acquisition of a controlling interest in MLTP. Additionally, we returned [added] a combined $114.9 million to shareholders through [added] $74.2 million of share buybacks and [added] $40.7 million of dividend payments.

Cite this change

"During the first six months of 2026, the aggregate cash consideration paid for acquisitions, net of cash acquired, totaled $165.6 million, primarily due to the acquisition of a controlling interest in MLTP. Additionally, we returned a combined $114.9 million to shareholders through $74.2 million of share buybacks and $40.7 million of dividend payments."

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

05ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Cash, cash equivalents and marketable securities shifted from a decrease to an increase, with operating cash inflows identified as the primary driver.

The statement changes direction and adds a stated cause, materially changing the reported liquidity trend and explanation.

Why the model ranked it here

Cash, cash equivalents and marketable securities shifted from a decline to an increase, with operating cash inflows identified as the primary source of improvement.

Filing text · FY2025 10-Q · filed Aug 1, 2025

Our cash, cash equivalents and marketable securities balances [removed] decreased by $235.2 million in the six months ended June [removed] 29, 2025, to $488.6 million.

Filing text · FY2026 10-Q · filed Jul 31, 2026

Our cash, cash equivalents and marketable securities balances [added] increased by $68.8 million in the six months ended June [added] 28, 2026, to $517.1 million. Cash increased primarily as a result of operating cash inflows.

Cite this change

"Our cash, cash equivalents and marketable securities balances increased by $68.8 million in the six months ended June 28, 2026, to $517.1 million. Cash increased primarily as a result of operating cash inflows."

Teradyne,, Form 10-Q for FY2026, Part I, Item 2, accession 0001193125-26-327715, filed 31 July 2026.

Filing: https://www.sec.gov/Archives/edgar/data/97210/000119312526327715/ter-20260628.htm

Comparison: https://yearover.com/reports/ter/0001193125-26-327715?ref=quote

Summaries are written by a model and checked against the quoted text. The quotes are the record.

Show all 29 in Part I, Item 2 (24 more, in filing order)

What the company reported as changed this quarter

We have not parsed the annual report this quarter's risk factors refers to, so we cannot tell whether it restates the section or reports changes to it. Nothing is compared until we can.

Part II, Item 1A · Risk Factors

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