Earnings summaries and quarterly performance for FORMFACTOR.
Executive leadership at FORMFACTOR.
Board of directors at FORMFACTOR.
Research analysts who have asked questions during FORMFACTOR earnings calls.
CS
Christian Schwab
Craig-Hallum Capital Group
4 questions for FORM
Also covers: ACLS, ADTN, AEHR +17 more
Craig Ellis
B. Riley Securities
4 questions for FORM
Also covers: ACLS, AKTS, AMKR +16 more
DD
David Duley
Steelhead Securities LLC
4 questions for FORM
Also covers: ACLS, COHU, KLIC +3 more
BC
Brian Chin
Stifel Financial Corp.
3 questions for FORM
Also covers: AEIS, AMAT, CAMT +8 more
TD
Thomas Diffely
D.A. Davidson & Co.
3 questions for FORM
Also covers: ACLS, AEHR, AMKR +3 more
Charles Shi
Needham & Company
2 questions for FORM
Also covers: ACLS, ACMR, ALTR +18 more
YS
Yu Shi
Susquehanna International Group, LLP
2 questions for FORM
Also covers: ACLS, ACMR, AMAT +11 more
AR
Auguste Richard
Northland Capital Markets
1 question for FORM
Also covers: AIP, AMBA, BURU +12 more
David Silver
CL King & Associates
1 question for FORM
Also covers: ABM, ASIX, CMP +11 more
DP
Denis Pyatchanin
Stifel Financial Corp.
1 question for FORM
Also covers: AMKR, CAMT, COHU +1 more
GR
Gus Richard
Northland Capital Markets
1 question for FORM
Also covers: AIP, AMBA, CAMT +7 more
KS
Krish Sankar
TD Cowen
1 question for FORM
Also covers: AAPL, AEIS, AMAT +21 more
RM
Robert Mertens
TD Cowen
1 question for FORM
Also covers: AEIS, COHU, SKYT +2 more
SS
Sreekrishnan Sankarnarayanan
Wolfe Research, LLC
1 question for FORM
Also covers: AAPL, AEIS, AMAT +21 more
TD
Tom Diffely
D.A. Davidson Companies
1 question for FORM
Also covers: ACLS, AMKR, ICHR +2 more
Recent press releases and 8-K filings for FORM.
FormFactor Reports Q3 2025 Results and Strategic Outlook
FORM
Earnings
Guidance Update
New Projects/Investments
- FormFactor reported Q3 2025 non-GAAP revenue of $202.7 million and diluted EPS of $0.33, exceeding its outlook midpoint. The company projects Q4 2025 non-GAAP revenue of $210 million +/- $5 million and diluted EPS of $0.35 +/- $0.04.
- The company targets $850 million in revenue and $2.00 non-GAAP diluted EPS in its target model, aiming for a 47.0% non-GAAP gross margin and 22.0% non-GAAP operating margin.
- FormFactor has been recognized as the #1 global supplier in Test Subsystems and Focused Chip Making Equipment by TechInsights' 2025 survey and received Intel's 2024 EPIC Distinguished Supplier Award and the SK hynix Best Partner Award in 2024.
- The company benefits from secular trends in semiconductor content, AI, and advanced packaging, with its Advanced Probe Cards market growing at an 8% CAGR and Engineering Systems at a 3% CAGR, while FormFactor's own CAGR for these segments is higher.
- FormFactor maintains a highly resilient business model supported by a flexible cost structure, strong balance sheet, and an active acquisition strategy, including a new $150 million revolving credit facility in July 2025.
7 days ago
FormFactor Discusses Growth, Gross Margin Improvement, and Operational Strategy at Needham Conference
FORM
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- FormFactor reported trailing 12-month revenues of approximately $750 million and guided Q4 to an $800-plus million annual runway, reflecting business growth.
- The company is on track to achieve its 47% gross margin target in 2026, having guided Q4 to 42%, up from 41% in Q3 and 38.5% in Q2 of last year, despite a 200 basis points headwind from tariffs.
- Operational efficiency initiatives include factory consolidation, a reduction in force, and the ramp-up of a new, cost-effective manufacturing site in Farmers Branch, Texas, expected to begin production by the end of 2026.
- Key growth drivers include strong market share in High Bandwidth Memory (HBM), competitive advantages in high-speed and high-power wafer test for GPU/AI ASICs, and an upswing in DDR5 probe card business, alongside emerging opportunities in co-packaged optics.
7 days ago
FormFactor Discusses Growth Drivers, Operational Improvements, and 2026 Outlook
FORM
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- FormFactor reported trailing 12-month revenues of approximately $750 million, with Q4 guidance suggesting an $800-plus million annual revenue run rate. The company is focused on improving gross margins, guiding Q4 to 42% from Q3's 41%, and aims to reach its target model of 47% gross margins in 2026.
- Key growth drivers include strong market share in High Bandwidth Memory (HBM), particularly with SK Hynix, and competitive advantages in high-speed and high-power testing for HBM and GPU/AI ASIC applications. The company is also seeing an upswing in DDR5 probe card business and expects DRAM shortages to persist.
- Operational improvements include a factory realignment and consolidation, with two California sites closing and a new, more cost-effective site in Farmers Branch, Texas, ramping up production from late 2026 into 2027. These actions are intended to create a more efficient and flexible manufacturing footprint, reducing reliance on product mix and volume for margin targets.
- FormFactor is expanding its presence in Co-Packaged Optics (CPO) through its engineering systems segment and the recent acquisition of Keystone Photonics, aiming to integrate electrical and optical probing technologies.
7 days ago
FormFactor Discusses Growth Drivers, Operational Efficiency, and Financial Targets at Needham Conference
FORM
Guidance Update
Layoffs
New Projects/Investments
- FormFactor reported trailing 12-month revenues of approximately $750 million, with Q4 2025 revenue guided to an $800+ million annual run rate. The company aims to improve gross margins from a low of 38.5% in Q2 2025 to 42% in Q4 2025, targeting 47% in 2026.
- To enhance operational efficiency and cost structure, FormFactor announced factory realignment and consolidation, including the closure of two California sites (Baldwin Park immediately and Carlsbad by the end of 2026) and a reduction in force. A new, more cost-effective site in Farmers Branch, Texas, acquired in May 2025, will begin production in late 2026 and ramp into 2027.
- The company maintains a strong market share in High Bandwidth Memory (HBM), particularly with SK Hynix, driven by its differentiated probe card technology for 11 gigabit per second operating frequencies. FormFactor is also expanding its presence in GPU and AI ASIC test and sees growth in co-packaged optics (CPO), a 10-year investment now transitioning to production, supported by the acquisition of Keystone Photonics.
- FormFactor anticipates a record quarter for DRAM probe cards in Q4 2025, primarily driven by DDR5 demand, indicating a broader upswing in the conventional DRAM business.
7 days ago
FormFactor Announces Restructuring Plan
FORM
Layoffs
Restructuring
- On January 5, 2026, FormFactor, Inc. adopted restructuring plans to align its cost structure and manufacturing capabilities, which includes consolidating manufacturing facilities in Carlsbad, California and Baldwin Park, California.
- The company expects to incur personnel-related costs to sever or retain approximately 200 to 300 employees as part of these plans.
- The restructuring plans are anticipated to result in aggregate GAAP restructuring charges of approximately $30 million to $40 million, with the majority expected in the current fiscal year.
- Of these charges, approximately $10 million to $15 million are expected to be future cash expenditures, and $20 million to $25 million are expected to be non-cash charges.
Jan 8, 2026, 10:43 PM
FormFactor Begins Work on New Advanced Manufacturing Facility in Farmers Branch, Texas
FORM
New Projects/Investments
Hiring
- FormFactor, Inc. has commenced site work and equipment installation for its new advanced manufacturing facility in Farmers Branch, Texas.
- This facility is intended to expand FormFactor's manufacturing capacity and is expected to create hundreds of new, highly skilled jobs.
- The company plans to make over $140 million of capital investment in 2026 for this site.
- The expansion is anticipated to strengthen Texas's semiconductor ecosystem and fill a key gap in the domestic supply chain, with FormFactor being a leading global supplier of test and measurement technologies for the semiconductor industry.
Nov 12, 2025, 11:30 PM
FormFactor Exceeds Q3 2025 Expectations and Provides Positive Q4 Outlook
FORM
Earnings
Guidance Update
New Projects/Investments
- FormFactor's Q3 2025 revenue, gross margin, and earnings per share exceeded its outlook, reporting revenues of $202.7 million, non-GAAP gross margins of 41%, and non-GAAP EPS of $0.33.
- The company anticipates sequentially higher revenue, earnings, and gross margin for Q4 2025, with an outlook of $210 million (midpoint) in revenue, 42% (midpoint) non-GAAP gross margin, and $0.35 (midpoint) non-GAAP EPS.
- FormFactor is focused on improving profitability to its target model of 47% non-GAAP gross margins, implementing short-term actions such as a headcount reduction and manufacturing spending decreases, alongside longer-term initiatives like the new Farmers Branch, Texas facility.
- DRAM probecard revenue achieved a new record in Q3 and is expected to post another record in Q4, driven by growth in HBM and non-HBM applications like DDR5 and LPDDR4.
- The company is expanding its market share in foundry and logic, having qualified its Apollo MEMS probecard for a mainstream CPU device and entering pilot production for a major GPU application, with expected volume orders in the first half of 2026.
Oct 29, 2025, 8:25 PM
Form Factor Announces Q3 2025 Results and Q4 2025 Outlook
FORM
Earnings
Guidance Update
- Form Factor reported Q3 2025 actual revenue of $202.7 million, a gross margin of 41.0%, and diluted EPS of $0.33, exceeding the midpoint of their outlook range.
- For Q4 2025, the company provided an outlook of $210 million +/- $5 million in revenue, a gross margin of 42.0% +/- 1.5%, and diluted EPS of $0.35 +/- $0.04.
- Form Factor was named the #1 global supplier in Test Subsystems and Focused Chip Making Equipment in TechInsights' 2025 customer satisfaction survey and was recognized for supplier excellence by SK hynix.
Oct 29, 2025, 8:25 PM
FormFactor Reports Q3 2025 Results and Provides Q4 Outlook
FORM
Earnings
Guidance Update
New Projects/Investments
- FormFactor reported Q3 2025 revenue of $202.7 million, with non-GAAP gross margins of 41% and non-GAAP EPS of $0.33, surpassing its outlook.
- For Q4 2025, the company anticipates revenue of $210 million (midpoint) and non-GAAP gross margins of 42% (midpoint), with non-GAAP EPS of $0.35 (midpoint).
- The company is actively pursuing initiatives to improve profitability, aiming for a 47% non-GAAP gross margin target, having already achieved a 250 basis point increase in non-GAAP gross margin from Q2 to Q3 2025.
- FormFactor plans to invest $140 million to $170 million in its new Farmers Branch, Texas manufacturing facility during 2026, with initial capacity expected by late 2026.
- DRAM Probecard revenue experienced double-digit sequential growth in Q3, largely due to HBM, which contributed approximately $40 million in the quarter.
Oct 29, 2025, 8:25 PM
FormFactor Reports Q3 2025 Results and Provides Q4 Outlook
FORM
Earnings
Guidance Update
New Projects/Investments
- FormFactor reported Q3 2025 revenue of $202.7 million and non-GAAP EPS of $0.33, exceeding its outlook range.
- The company achieved a non-GAAP gross margin of 41% in Q3 2025, a 250 basis point increase from Q2 2025, and anticipates a further 100 basis point increase in Q4 2025, moving towards its 47% target model.
- For Q4 2025, FormFactor expects revenue of $210 million (plus or minus $5 million) and non-GAAP EPS of $0.35 (plus or minus $0.04).
- The company is investing $140 million to $170 million in its new Farmers Branch, Texas manufacturing facility over 2026, with initial capacity expected online in late 2026 and the majority in 2027.
- HBM revenue reached $40 million in Q3 2025, primarily driving sequential DRAM growth, and continued growth from HBM4 is expected through 2026.
Oct 29, 2025, 8:25 PM
Quarterly earnings call transcripts for FORMFACTOR.
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