Christian Schwab

Craig Ellis

David Duley

Brian Chin

Thomas Diffely

Charles Shi

Yu Shi

Auguste Richard

David Silver

Denis Pyatchanin

Gus Richard

Krish Sankar

Robert Mertens

Sreekrishnan Sankarnarayanan

Tom Diffely

- 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**.  **[0001039399_2215443_5]** 
- 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.  **[0001039399_2215443_1]** **[0001039399_2215443_6]** 
- 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**.  **[0001039399_2215443_1]** **[0001039399_2215443_4]** 
- 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.  **[0001039399_2215443_1]** 
- 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.  **[0001039399_2215443_2]**

FormFactor Exceeds Q3 2025 Expectations and Provides Positive Q4 Outlook

- 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.  **[0001039399_2212546:15]** 
- 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**.  **[0001039399_2212546:15]** 
- 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.  **[0001039399_2212546:6]** **[0001039399_2212546:8]**

Form Factor Announces Q3 2025 Results and Q4 2025 Outlook

- 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.  **[0001039399_2215265_5]** 
- 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).  **[0001039399_2215265_6]** 
- 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.  **[0001039399_2215265_1]** **[0001039399_2215265_5]** 
- 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.  **[0001039399_2215265_6]** **[0001039399_2215265_9]** 
- DRAM Probecard revenue experienced **double-digit sequential growth in Q3**, largely due to HBM, which contributed approximately **$40 million** in the quarter.  **[0001039399_2215265_1]** **[0001039399_2215265_9]**

FormFactor Reports Q3 2025 Results and Provides Q4 Outlook

- FormFactor reported **Q3 2025 revenue of $202.7 million** and **non-GAAP EPS of $0.33**, exceeding its outlook range.  **[0001039399_2212786_5]** 
- 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**.  **[0001039399_2212786_1]** **[0001039399_2212786_5]** 
- 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).  **[0001039399_2212786_6]** 
- 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**.  **[0001039399_2212786_6]** **[0001039399_2212786_9]** 
- **HBM revenue reached $40 million** in Q3 2025, primarily driving sequential DRAM growth, and continued growth from HBM4 is expected through **2026**.  **[0001039399_2212786_10]**

- FormFactor, Inc. reported **Q3 2025 revenue** of **$202.7 million**, marking a **3.5% sequential increase** from Q2 2025, and **non-GAAP net income** of **$25.7 million**, or **$0.33 per fully-diluted share**.  **[1039399_0001039399-25-000110_ex9901-earningsreleasexq325.htm:0]** 
- **DRAM probe cards** achieved **double-digit sequential growth** in Q3 2025, reaching a new record primarily due to growth in HBM.  **[1039399_0001039399-25-000110_ex9901-earningsreleasexq325.htm:0]** 
- For **Q4 2025**, the company anticipates **revenue** of **$210 million +/- $5 million** and **non-GAAP net income per diluted share** of **$0.35 +/- $0.04**.  **[1039399_0001039399-25-000110_ex9901-earningsreleasexq325.htm:1]**

FormFactor, Inc. Reports Q3 2025 Financial Results and Provides Q4 Outlook

- FormFactor reported **revenue of $202.7 million** in Q3 2025, representing a **3.5% sequential increase** from Q2 2025, though a **2.5% decrease year-over-year**.  **[1039399_dced583e34d24bfb8b25f17f22e3a1fe_0]** 
- The company achieved **non-GAAP diluted EPS of $0.33** in Q3 2025, an increase from $0.27 in Q2 2025.  **[1039399_dced583e34d24bfb8b25f17f22e3a1fe_1]** 
- **Non-GAAP gross margin improved to 41.0%** in Q3 2025, a **250 basis point increase** from Q2 2025, with management anticipating continued improvement in Q4 and next year.  **[1039399_dced583e34d24bfb8b25f17f22e3a1fe_1]** 
- **Free cash flow significantly improved to $19.7 million** in Q3 2025, compared to negative $47.1 million in Q2 2025.  **[1039399_dced583e34d24bfb8b25f17f22e3a1fe_1]** 
- For Q4 2025, FormFactor projects **revenue of $210 million +/- $5 million** and **non-GAAP diluted EPS of $0.35 +/- $0.04**, expecting sequentially higher results.  **[1039399_dced583e34d24bfb8b25f17f22e3a1fe_1]**

FORMFACTOR (FORM)