FormFactor Inc
FORM
ISIN null / Valor 1445839
FormFactor Inc
UMushroom community rating:
About company
FormFactor, Inc. designs, manufactures and sells probe and test solutions used to evaluate semiconductor devices at the wafer and package levels, supplying probe cards, wafer probers, analytical probes and associated test accessories and services to integrated device manufacturers, foundries, fabless companies and test labs. Its equipment and consumables support device characterization, wafer-level electrical testing and development work across technologies such as advanced logic nodes, RF, analog, power devices and advanced packaging (including multi-die and 3D approaches). The company combines engineering, manufacturing and field service capabilities to deliver test hardware and support for research, qualification and production environments, and its revenue is tied closely to semiconductor R&D and manufacturing activity cycles.
Summarized from source with an LLMView SourceSector: TechnologyLatest Results (18.05.2026):
FormFactor, Inc. — first quarter of fiscal 2026: Revenue reached a second consecutive all‑time record at $226.1 million. GAAP net income was $20.4 million (diluted EPS $0.26), while non‑GAAP net income was $44.5 million (non‑GAAP diluted EPS $0.56). Non‑GAAP gross margin was 49.0% (up strongly sequentially), GAAP gross margin was 38.4%. Operating cash flow was $45.0 million and free cash flow was $30.7 million. The company provided Q2 guidance of $240 million ± $5 million and non‑GAAP gross margin guidance of 49.5% ± 1.5%.
Revenue
Q1 2026 revenue: $226.1M (vs. $215.2M prior quarter and $171.4M year‑ago). Management cited record DRAM revenue (HBM and non‑HBM strength) and a significant increase in Foundry & Logic demand driven by probe cards for networking applications.
Profitability — GAAP vs. Non‑GAAP
GAAP: gross profit $86.8M, gross margin 38.4%, operating income $16.6M, net income $20.4M, diluted EPS $0.26. Non‑GAAP: gross profit $110.7M, gross margin 49.0%, operating income $48.7M, net income $44.5M, diluted EPS $0.56. The non‑GAAP improvement reflects add‑backs including large restructuring adjustments.
Adjustments and one‑time items
Significant non‑GAAP adjustments: restructuring charges ~$23.3M, stock‑based compensation ~$8.0M, and amortization/fair value adjustments ~$0.7M. These items materially widen the gap between GAAP and non‑GAAP results; reconciliations are provided in the release.
Cash flow and balance sheet
Net cash provided by operating activities: $44.96M. Capital expenditures were $15.19M, yielding free cash flow of $30.73M. Cash, cash equivalents and restricted cash ended at ~$126.45M. Total assets were $1.256B and total stockholders’ equity was $1.059B.
Outlook
Q2 FY2026 guidance: revenue $240M ± $5M; GAAP gross margin 46.6% ± 1.5%; non‑GAAP gross margin 49.5% ± 1.5%. The press release notes the outlook assumes consistent foreign currency rates; EPS guidance was not shown in the excerpt provided.
Forward‑looking notes
The company reiterated standard forward‑looking risk factors (trade/export controls, customer demand variability, macroeconomic and geopolitical risks). Investors should note the reliance on non‑GAAP metrics and that exclusions (especially restructuring) may recur.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
10055 M
Market cap (USD)
1,439,045
Daily traded volume (Shares)
45.75 / 44
1 day high/low (USD)
52 weeks high/low (USD)
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