Investor Contact: Stan Finkelstein Investor Relations (925) 290-4273 ir@formfactor.com FORMFACTOR, INC. REPORTS 2025 FIRST QUARTER RESULTS Q1 Revenue, Gross Margin and EPS Above Mid-Point of the Outlook Range, Sees Significant Demand Step-Up in Q2'25 Announces Additional $75 Million Stock Repurchase Authorization LIVERMORE, Calif. — April 30, 2025 —FormFactor, Inc. (Nasdaq: FORM) today announced its financial results for the first quarter of fiscal 2025 ended March 29, 2025. Quarterly revenues were $171.4 m ...

LIVERMORE, Calif., April 30, 2025 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) today announced its financial results for the first quarter of fiscal 2025 ended March 29, 2025. Quarterly revenues were $171.4 million, a decrease of 9.6% compared to $189.5 million in the fourth quarter of fiscal 2024, and an increase of 1.6% from $168.7 million in the first quarter of fiscal 2024. Foundry & Logic first-quarter demand increased low single digits sequentiallyExperienced reduction in DRAM as export control ...

Shares of FormFactor (FORM) have gained 0.9% over the past four weeks to close the last trading session at $28.54, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $42 indicates a potential upside of 47.2%.The average comprises nine short-term price targets ranging from a low of $26 to a high of $52, with a standard deviation of $8.83. While the lowest estimate indicates a declin ...

Core Viewpoint - FormFactor, Inc. is set to report its financial results for the first quarter of fiscal year 2025 on April 30, 2025, at 1:25 p.m. Pacific Time, with a live webcast available for public access [1]. Company Overview - FormFactor, Inc. (NASDAQ:FORM) is a prominent provider of test and measurement technologies throughout the entire integrated circuit (IC) life cycle, including characterization, modeling, reliability, design debugging, qualification, and production testing [3]. - The company’s products and services are essential for semiconductor companies aiming to enhance profitability by optimizing device performance and improving yield knowledge [3]. - FormFactor operates a network of facilities across Asia, Europe, and North America to serve its customers effectively [3].

Core Viewpoint - FormFactor, Inc. has launched the EVOLVITY™ 300, a semi-automated engineering wafer probe system designed to enhance on-wafer probing for RF/DC modeling and device characterization, complementing its existing CM300 product line [1][2]. Group 1: Product Features and Benefits - The EVOLVITY 300 features a compact and user-friendly design, making it suitable for various applications including advanced RF measurements and DC characterization [2][3]. - It includes standard features that ensure ease of use and quick deployment, differentiating it from the modular CM300 platform [2]. - The system offers automation options that simplify operations and provide greater flexibility for users, enhancing overall efficiency [2][8]. Group 2: Design and Usability - The design of the EVOLVITY 300 focuses on reducing setup time and complexity, allowing users to concentrate on testing and development rather than setup tasks [3]. - It incorporates a spacious platen design that accommodates both RF and DC setups without space limitations, facilitating easy integration of different configurations [8]. - The system allows for quick switching between various test configurations with reconfigurable platen inserts, enhancing operational versatility [8]. Group 3: Company Overview - FormFactor, Inc. is a leading provider of test and measurement technologies throughout the IC life cycle, serving semiconductor companies to optimize device performance and advance yield knowledge [6]. - The company operates a network of facilities across Asia, Europe, and North America, supporting its global customer base [6].

Core Insights - FormFactor (FORM) is expanding its capacity in Taiwan to better serve customers in Asia, particularly in advanced packaging technologies driven by AI and high-performance computing [1] - Taiwan contributed 22.7% of total revenues, amounting to $173.5 million, reflecting a 17.4% increase compared to 2023 [2] - The company is facing weak demand in the semiconductor market, particularly in high-volume sectors like client PCs and mobile handsets, which is expected to continue into 2025 [3][4] Revenue and Market Performance - FormFactor's revenues from Taiwan reached $173.5 million, with significant contributions from other Asian markets: China ($103 million), Japan ($34 million), Singapore ($20.2 million), and Malaysia ($18.2 million) [2] - The company anticipates a reduction in demand for non-high bandwidth memory (HBM) DRAM probe cards due to export controls affecting shipments to China [4] - Despite current challenges, strong demand for HBM and Generative AI is projected to positively impact FormFactor's long-term prospects, contributing $100 million to revenues in 2024 [5] Future Outlook - The transition to new HBM4 designs is expected to drive significant growth in DRAM probe card demand starting mid-2025 [6] - FormFactor expects gross margin to contract in the near term due to a challenging product mix, with projections below the target of 47% on $850 million of annual revenues [7] - The Zacks Consensus Estimate for first-quarter 2025 revenues is $170.01 million, indicating a 0.76% year-over-year growth, while the estimate for 2025 revenues is $772.83 million, reflecting a 1.21% year-over-year growth [10][11] Stock Performance - FormFactor shares have declined 34.7% year to date, underperforming the broader technology sector and semiconductor industry [8] - Comparatively, shares of industry peers like Infineon Technologies have appreciated by 2.7%, while Nova Ltd. and Broadcom have seen declines of 2.7% and 25.8%, respectively [9]

Core Insights - FormFactor, Inc. has announced a significant expansion of its Taiwan Service Center to enhance local capabilities and customer support in the semiconductor industry [1][2][3] - The expansion includes doubling the cleanroom space and adding office areas, which will streamline repair turnaround times and increase capacity for testing and repair services [2][3] - The facility will also feature expanded probe card services and a technology demo center to support advancements in co-packaged optics technologies [3] Company Overview - FormFactor, Inc. is a leading provider of test and measurement technologies for the semiconductor industry, serving customers throughout Asia, Europe, and North America [4] - The company's products and services are essential for optimizing device performance and advancing yield knowledge, thereby accelerating profitability for semiconductor companies [4]

Group 1 - FormFactor is a $2.5 billion OEM specializing in automated wafer probe cards and testing devices for semiconductor manufacturing [1] - The company reported revenues of $763.6 million in 2024, with SK Hynix contributing 22% to the top-line [2] - Sales consensus for 2025 is projected to grow only 1.2% to $773 million, following a disappointing Q4 report [2] Group 2 - Analysts have reduced EPS estimates for 2025 by over 20%, from $1.63 to $1.26, indicating a slip below 10% annual growth [2] - FormFactor's probe cards are essential for testing various semiconductor devices, including SoCs, microprocessors, and memory types [4] - The company is facing challenges due to weaker demand in high-volume markets like client PCs and mobile handsets [6] Group 3 - For Q1 2025, FormFactor expects revenues of $170 million, which is about $20 million below prior consensus estimates [6] - The company anticipates a non-GAAP gross margin of 38% for Q1 2025 [6] - Non-GAAP earnings per share are expected to be 19 cents, down from prior estimates of 33 cents [7] Group 4 - FormFactor's manufacturing locations in Asia primarily drive its revenue, although North America has seen growth due to increased manufacturing activity [7] - The current growth slump in the semiconductor testing market suggests caution for investors, as the stock trades over 25X EPS [8] - The upcoming quarters will be critical in determining if a turnaround is possible for the company [8]

Core Insights - The partnership between FormFactor, Inc. and Delft Circuits aims to enhance scalability and performance in quantum computing through the integration of high-density cryogenic cabling solutions [1][2][4] Company Overview - FormFactor, Inc. is a leader in precision test and measurement solutions, providing essential technologies throughout the IC life cycle, including characterization, modeling, and production testing [5] - Delft Circuits specializes in dedicated quantum hardware, focusing on high-density I/O cabling solutions for the quantum industry, and has established itself as a trusted partner for various leading organizations [6] Partnership Details - The collaboration will integrate Delft Circuits' Cri/oFlex® cabling into FormFactor's cryogenic test systems, allowing for up to 160 channels per port and a total of 1920 channels, significantly improving performance and scalability [2][8] - This integration is particularly beneficial for space-constrained environments, facilitating seamless integration in compact quantum computing setups [8] Industry Impact - The partnership is positioned to transform quantum computing interfacing by combining precision measurement with advanced cabling technology, thereby accelerating the scalability and reliability of next-generation quantum systems [4][3] - The collaboration addresses the increasing computational requirements in quantum technology, which necessitate higher channel densities [2][8]

Core Viewpoint - FormFactor, Inc. (NASDAQ: FORM) recently reported its Q4 earnings, prompting analysis of the company's financial performance and short-term outlook [1]. Financial Performance - The company has released its Q4 earnings, which are under review for insights into its financial health and future prospects [1]. Investment Strategy - The investment approach discussed emphasizes a long-term horizon, typically between 5 to 10 years, focusing on a balanced portfolio that includes growth, value, and dividend-paying stocks, with a particular inclination towards value stocks [1].