Besi raises long-term revenue target to €1.7 billion–€2.2 billion
SOXX•Besi raised its long-term revenue target to €1.7 billion–€2.2 billion, about 15% higher at the midpoint, and increased its operating margin target to 45%–55%. It expects 2026 revenue and orders to each exceed €1 billion, assuming it reaches the midpoint of fourth-quarter guidance.
1. Higher long-term targets
Besi raised its long-term revenue target to €1.7 billion–€2.2 billion, about 15% higher at the midpoint. Its operating margin target rose to 45%–55% from 40%–55%, while its gross margin target remains 64%–68%.
2. Orders and hybrid bonding
Besi expects revenue and orders to each exceed €1 billion in 2026, assuming it reaches the midpoint of its fourth-quarter guidance. Orders rose 108% to €905.2 million in the first nine months, supported by AI-related demand. The company anticipates record annual hybrid bonding revenue and orders; adoption reached 23 customers in the third quarter.
