| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | August 3, 2026 | 3/12 | 2 high, 3 medium, 4 low flags | 5 | 0 | Call sheet → |
| Q1'26 | May 4, 2026 | 9/12 | 2 high, 4 medium, 1 low flags | 3 | 1 | Call sheet → |
| Q4'25 | February 10, 2026 | 5/12 | 1 high, 6 medium, 1 low flags | 6 | 0 | Call sheet → |
| Q3'25 | November 4, 2025 | 9/12 | 2 medium, 4 low flags | 5 | 1 | Call sheet → |
| Q2'25 | August 5, 2025 | 9/12 | 1 high, 3 medium, 4 low flags | 5 | 2 | Call sheet → |
| Q1'25 | April 30, 2025 | 8/12 | 1 high, 5 medium, 2 low flags | 0 | 0 | Call sheet → |
| Q4'24 | February 12, 2025 | 7/12 | 2 medium, 5 low flags | 4 | 1 | Call sheet → |
| Q3'24 | October 30, 2024 | 9/12 | 5 medium, 3 low flags | 7 | 0 | Call sheet → |
| Q2'24 | July 30, 2024 | 7/12 | 1 high, 3 medium, 2 low flags | 3 | 1 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Delivered | Maintain operating expense growth well below revenue growth (Q1) OPEX +11% YoY vs revenue +30% YoY. |
| Q2'26 | Delivered | Industrial‑Medical sequential growth Q2 (Q1) INM revenue +11% Q2 sequential. |
| Q2'26 | Exceeded | Free cash flow to be at or above 2025 levels (Q1) CFFO turned positive $86 m vs -$6 m in Q1; FCF now clearly above prior year. |
| Q2'26 | Exceeded | CapEx FY2026 $170‑$180 m (Q1) Now $180‑$195 m after adding Thailand spend. |
| Q2'26 | Pending | Data‑center FY2026 growth mid‑30% (Q1) Raised to ≥50% after Q2; Q2 actual was -1% sequential, indicating upside still uncertain. |
| Q2'26 | Pending | First production at Thailand factory late 2026/early 2027 (Q1) Now expects first revenue Q4 2026 - earlier but still not materialized. |
| Q2'26 | Pending | Achieve >43% gross margin over time (Q1) Q2 margin 41.9% (40.7% excl. tariff); still short of 43%. |
| Q2'26 | Exceeded | Raise FY2026 revenue growth to low‑to‑mid 20% range (Q1) FY2026 revenue now up 30% YoY in Q2; guidance raised to low‑to‑mid 30%. |
| Q1'26 | Pending | Semi to accelerate in second half Maintained view of 2H up 30%+ YoY |
| Q1'26 | Exceeded | High teens revenue growth for 2026 Raised to low to mid-20% growth |
| Q1'26 | Pending | Thailand initial production late 2026 or early 2027 On track with qualification builds starting Q2 |
| Q1'26 | Missed | I&M sequential growth over next few quarters Down 8% sequentially due to factory issues |
| Q1'26 | Exceeded | Data center revenue to grow 25-30% in 2026 Raised to mid-30% growth |
| Q1'26 | Delivered | Achieve 40% gross margin in 2026 Hit 40.1% in Q1, ahead of schedule |
| Q4'25 | Pending | Industrial medical to grow sequentially over next few quarters Q4 grew 10% sequentially, Q1 guide implies flattish |
| Q4'25 | Delivered | Operating expenses of approximately $107M in Q4 Actual was $107M, exactly on target |
| Q4'25 | Delivered | Full year 2025 revenue growth of approximately 20% Achieved 21% growth to $1.8B |
| Q4'25 | Delivered | Data center revenue to more than double in 2025 Grew from under $300M to $587M |
| Q4'25 | Delivered | Q4 EPS of $1.75 +/- $0.25 Reported $1.94, near high end of range |
| Q4'25 | Delivered | Gross margin between 39% to 40% Achieved 39.7%, within guided range |
| Q4'25 | Exceeded | Q4 revenue of approximately $470M +/- $20M Delivered $489M, beating midpoint by $19M or 4% |
| Q3'25 | Exceeded | 2025 revenue growth of approximately 17% Raised to 20% growth guidance |
| Q3'25 | Delivered | I&M modest sequential growth Grew 4% sequentially as promised |
| Q3'25 | Missed | Operating expenses up slightly on higher variable costs OpEx actually declined to $103M from $104M |
| Q3'25 | Delivered | Data center revenue to remain at or above Q2 levels Grew 21% sequentially to $172M |
| Q3'25 | Exceeded | Gross margin to improve to around 38.5% Achieved 39.1%, 60bps above target |
| Q3'25 | Exceeded | Q3 revenue to be similar to Q2 at $440M +/- $20M Delivered $463M, above high end of range |
| Q2'25 | Missed | Semiconductor to grow ~10% for 2025 Walked back to 'mid-single digits' (5%) |
| Q2'25 | Missed | 350+ semiconductor qualification units shipped No update provided on cumulative units; metric disappeared |
| Q2'25 | Delivered | Complete China factory closure in June Confirmed closure completed |
| Q2'25 | Delivered | Gross margin around 38% in Q2 Hit 38.1% despite higher tariff impact |
| Q2'25 | Delivered | I&M to recover in Q2 with sequential growth Grew 7% sequentially as promised |
| Q2'25 | Exceeded | Data center 'continued ramp' in Q2 Delivered 47% sequential growth, well above 'continued ramp' |
| Q2'25 | Delivered | Q2 semiconductor to 'moderate slightly from Q1' Semi was down 6% QoQ, in line with 'moderate slightly' |
| Q1'25 | Pending | Complete factory consolidation in 2025 On track with June China closure |
| Q1'25 | Pending | Growing revenue, gaining share, improving margins in 2025 Reiterated but visibility caveated |
| Q1'25 | Pending | Gross margin above 40% as we exit 2025 Paul says 'we would expect to approach 40% as we exited the year' so slightly softened to 'approach' |
| Q1'25 | Pending | China factory closure by midyear Specified June 2025, on track |
| Q1'25 | Pending | I&M recovery beginning in Q2 2025 Maintained but heavily hedged with tariff warnings |
| Q1'25 | Pending | Semiconductor initial production ramps in second half 2025 Pushed to 'late 2025 and early 2026' so already slipping |
| Q4'24 | Delivered | Data center double-digit growth for the year Up 41% YoY in Q4, clearly achieved |
| Q4'24 | Delivered | Semi revenue to grow low to mid-single digits in 2024 Grew 'single-digit percentage' per commentary |
| Q4'24 | Missed | I&M inventory normalization late Q4 or Q1 Pushed out again to 'as early as Q2' for growth |
| Q4'24 | Pending | Complete China factory closure by midyear 2025 Refined to 'by June' which is technically midyear |
| Q4'24 | Exceeded | Q4 gross margin to improve to about 37% Delivered 38%, 100 bps above guidance |
| Q4'24 | Delivered | Ship over 250 qualification units by end of year Confirmed 'more than 250' shipped by December, though stopped giving forward targets |
| Q3'24 | Delivered | China factory closure with $25-30M charges in Q3 Took $28.5M charge, within range |
| Q3'24 | Delivered | Operating expenses to increase $1-2M sequentially OpEx up $2M as guided |
| Q3'24 | Exceeded | Semiconductor revenue roughly flat in Q3 Actually grew 5% sequential vs flat guide |
| Q3'24 | Delivered | Industrial/medical to remain at similar levels Q3 Down just 3% sequentially as guided |
| Q3'24 | Delivered | Q3 revenue of $370M +/- $20M Achieved $374M, at upper half of range |
| Q3'24 | Delivered | Gross margins to improve to around 36% in Q3 Hit 36.3%, slightly above target |
| Q3'24 | Exceeded | Ship more than 200 eVoS/eVerest systems by year-end Now guiding 250+ units, beat by 25% |
| Q2'24 | Exceeded | Data center to meaningfully rebound in Q2 74% sequential growth well above 'meaningful' |
| Q2'24 | Missed | Industrial/medical inventories to normalize in second half Pushed to Q4 2024 or Q1 2025, visibility deteriorating |
| Q2'24 | Pending | 2024 CapEx approximately 4% of sales Q2 at $14.8M tracking to plan |
| Q2'24 | Delivered | Operating expenses to increase $1-2M per quarter OpEx up $1.5M as guided |
| Q2'24 | Pending | Gross margins to increase in second half driven by consolidation Q3 guide of 36% shows progress, but China closure costs create headwind |
| Q2'24 | Exceeded | Q2 semiconductor revenues around Q1 level of $180M Delivered $188M, but admits pull-forward from customers |
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