Besi raises long-term revenue target to €1.7 billion–€2.2 billion

• Besi raised its long-term revenue target to EUR 1.7 billion–EUR 2.2 billion, up about 15% at the midpoint.
• The operating margin target increased to 45%–55% from 40%–55%; the gross margin target remains 64%–68%.
• Revenue and orders are expected to exceed EUR 1 billion each in 2026, assuming the fourth-quarter guidance midpoint is reached.
• Orders rose 108% to EUR 905.2 million in the first nine months, supported by AI-related demand.
• Record annual hybrid bonding revenue and orders are anticipated, with adoption reaching 23 customers in the third quarter.

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