| 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.
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Semiconductor Test |
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Robotics |
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Product Test |
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Total |
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System
on-a-Chip |
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Memory |
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IST |
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(in thousands) |
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For the Three Months Ended June 29, 2025 |
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Timing of Revenue Recognition |
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Point in Time |
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$ |
325,588 |
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$ |
51,993 |
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$ |
28,827 |
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$ |
72,724 |
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$ |
66,159 |
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$ |
545,291 |
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Over Time |
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71,000 |
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8,950 |
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5,520 |
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2,142 |
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18,894 |
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$ |
106,506 |
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Total |
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$ |
396,588 |
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$ |
60,943 |
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$ |
34,347 |
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$ |
74,866 |
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$ |
85,053 |
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$ |
651,797 |
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Geographical Market |
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Asia Pacific |
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$ |
364,883 |
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$ |
58,467 |
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$ |
32,468 |
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$ |
15,939 |
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$ |
34,901 |
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$ |
506,658 |
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Americas |
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15,920 |
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2,077 |
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1,879 |
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27,160 |
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42,229 |
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$ |
89,265 |
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Europe, Middle East and Africa |
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15,785 |
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399 |
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— |
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31,767 |
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7,923 |
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$ |
55,874 |
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Total |
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$ |
396,588 |
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$ |
60,943 |
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$ |
34,347 |
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$ |
74,866 |
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$ |
85,053 |
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$ |
651,797 |
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For the Three Months Ended June 30, 2024 |
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Timing of Revenue Recognition |
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Point in Time |
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$ |
343,536 |
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$ |
121,662 |
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$ |
12,463 |
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$ |
88,217 |
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$ |
63,329 |
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$ |
629,207 |
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Over Time |
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70,048 |
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7,318 |
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4,889 |
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2,030 |
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16,387 |
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$ |
100,672 |
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Total |
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$ |
413,584 |
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$ |
128,980 |
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$ |
17,352 |
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$ |
90,247 |
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$ |
79,716 |
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$ |
729,879 |
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Geographical Market |
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Asia Pacific |
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$ |
381,631 |
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$ |
124,497 |
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$ |
17,304 |
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$ |
20,203 |
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$ |
33,248 |
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$ |
576,883 |
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Americas |
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20,211 |
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3,254 |
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48 |
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35,010 |
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33,537 |
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$ |
92,060 |
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Europe, Middle East and Africa |
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11,742 |
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1,229 |
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— |
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35,034 |
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12,931 |
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$ |
60,936 |
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Total |
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$ |
413,584 |
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$ |
128,980 |
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$ |
17,352 |
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$ |
90,247 |
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$ |
79,716 |
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$ |
729,879 |
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For the Six Months Ended June 29, 2025 |
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Timing of Revenue Recognition |
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Point in Time |
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$ |
663,278 |
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$ |
153,656 |
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$ |
51,719 |
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$ |
139,870 |
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$ |
122,717 |
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$ |
1,131,240 |
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Over Time |
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139,700 |
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16,695 |
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9,334 |
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3,983 |
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36,525 |
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$ |
206,237 |
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Total |
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$ |
802,978 |
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$ |
170,351 |
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$ |
61,053 |
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$ |
143,853 |
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$ |
159,242 |
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$ |
1,337,477 |
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Geographical Market |
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Asia Pacific |
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$ |
722,985 |
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$ |
166,149 |
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$ |
58,484 |
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$ |
31,001 |
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$ |
60,447 |
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$ |
1,039,066 |
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Americas |
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50,972 |
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2,994 |
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2,569 |
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59,631 |
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83,014 |
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$ |
199,180 |
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Europe, Middle East and Africa |
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29,021 |
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1,208 |
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— |
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53,221 |
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15,781 |
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$ |
99,231 |
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Total |
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$ |
802,978 |
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$ |
170,351 |
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$ |
61,053 |
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$ |
143,853 |
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$ |
159,242 |
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$ |
1,337,477 |
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For the Six Months Ended June 30, 2024 |
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Timing of Revenue Recognition |
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Point in Time |
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$ |
573,127 |
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$ |
224,098 |
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$ |
29,096 |
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$ |
173,400 |
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$ |
125,684 |
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$ |
1,125,405 |
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Over Time |
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142,764 |
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14,828 |
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10,771 |
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4,501 |
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31,429 |
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$ |
204,293 |
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Total |
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$ |
715,891 |
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$ |
238,926 |
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$ |
39,867 |
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$ |
177,901 |
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$ |
157,113 |
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$ |
1,329,698 |
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Geographical Market |
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Asia Pacific |
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$ |
652,197 |
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$ |
220,103 |
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$ |
37,169 |
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$ |
34,782 |
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$ |
56,306 |
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$ |
1,000,557 |
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Americas |
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42,762 |
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12,306 |
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2,698 |
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69,640 |
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73,305 |
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$ |
200,711 |
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Europe, Middle East and Africa |
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20,932 |
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6,517 |
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— |
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73,479 |
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27,502 |
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$ |
128,430 |
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Total |
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$ |
715,891 |
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$ |
238,926 |
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$ |
39,867 |
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$ |
177,901 |
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$ |
157,113 |
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$ |
1,329,698 |
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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 $930.8 million of unsatisfied performance obligations. Teradyne expects to recognize approximately 86.4% of the remaining performance obligations in the next 12 months and the remainder in 1-3 years. Deferred revenue and customer advances consist of the following and are included in short and long-term deferred revenue and customer advances on the balance sheet:
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June 29,
2025 |
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December 31,
2024 |
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(in thousands) |
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Maintenance, service and training |
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$ |
59,876 |
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$ |
58,473 |
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Customer advances, undelivered elements and other |
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57,776 |
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48,118 |
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Extended warranty |
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46,751 |
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41,624 |
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Total deferred revenue and customer advances |
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$ |
164,403 |
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$ |
148,215 |
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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.
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