Teradyne Inc. reported a 2024 target revenue of $2,820 million, with a projected growth rate of 12% to 18% for the following period, targeting a revenue range between $4,500 million and $5,500 million. Gross margin is expected to be in the range of 59% to 60%. Operating expenses are forecasted to decrease from 38% of revenue to a range of 28% to 31%. The company's cumulative capital allocation from 2015 through the third quarter of 2025 consists of 19% to acquisitions and earn-out payments, 11% to dividends, and 70% to share buybacks. For the third quarter of 2025, the Semiconductor Test business reported sales of $606 million, Product Test sales were $88 million, and Robotics sales were $75 million. Semiconductor Test sales increased by 23% quarter-over-quarter and 7% year-over-year, with System-on-Chip sales up 11% quarter-over-quarter and 12% year-over-year, supported by demand related to artificial intelligence. Teradyne calculates free cash flow as GAAP cash flow from operations, excluding discontinued operations, less property, plant, and equipment additions net of government subsidies. The percentage of free cash flow returned to shareholders is defined as the sum of buybacks and dividends divided by free cash flow.