Teradyne, Inc.

Okay, we'd like to get started. Good afternoon, everyone. My name is Toshiya Hari. I cover the semiconductor and semiconductor capital equipment space at Goldman. Very excited, very happy to have Tyler Warren from Teradyne. He's the CFO of the semiconductor test business. First of all, Tyler, thank you for coming. Yeah, thanks for having me. Appreciate it. Really appreciate your time. I think many of us are relatively new to you, so I was going to kick off by asking for your background. You've been at Teradyne for about 18 years, but maybe you could spend a couple of minutes talking about, you know, your background, your key responsibilities as the CFO of the Semiconductor Test.

Sure, yeah, absolutely. So I'm Tyler Warren. I've been at Teradyne for about 18 years. I started there in 2006. I went to school at Bentley in Waltham and started at Teradyne right out of school. So I've done a number of different jobs at Teradyne. You know, one of the things that's kept me there is you know, the ability to do multiple things and in multiple different areas of the business. So I was in finance for a while. The role I had prior to this, I was the general manager of our system level test business, which is, you know, an important part of the semiconductor test landscape. And then for the past four or so years, I've been the CFO of the semiconductor test business at Teradyne. And I think, you know, there's a lot of responsibilities. There's, you know, you got to do compliance and you got to do all that type of stuff as a CFO. But The main thing is making sure that we have a robust business model, a business model that can support our customers, that we have the right application of resources to our R&D pipeline, that we're keeping up with our customers' roadmaps, that we have the right applications and support to grow with our customers. And so making sure that we do all that but also have attractive financial returns. As investors in the room, everyone wants to have growth both in the top line And the bottom line, but to do that, you have to have a robust business model that keeps up with our customers' requirements. And so it's that balancing act of managing the finances, but also managing the ability for us to invest where we need to for top line and bottom line growth.

Okay, great. I appreciate that. I do want to spend a bunch of time on the individual markets within Semitest, but since you are the CFO and since you talked a little bit about the R&D pipeline, I did want to ask you on strategic focus, what you guys are spending your time on, what you're spending your R&D dollars on. When we look at the total company, the Teradyne, I think the OpEx to sales ratio in 24 is probably going to be the highest since 2013. We're aware of all the strategic investments going on on the robotic side, but how are you spending your time, your R&D resources in SemiTest?