Revenue and Growth - Fiscal 2024 revenue reached $764 million, a 15.2% increase from $663 million in fiscal 2023, driven by growth in HBM revenue[2] - High Bandwidth Memory (HBM) revenue grew fourfold in fiscal 2024, driven by the adoption of Generative AI[6] - Fourth quarter revenue was $189.5 million, down 8.9% from $207.9 million in the previous quarter, but up 12.7% from $168.2 million in Q4 2023[2] - For Q1 2025, FormFactor projects revenue of $170 million +/- $5 million[11] Net Income and Earnings - Net income for Q4 2024 was $9.7 million, or $0.12 per fully-diluted share, compared to $18.7 million, or $0.24 per share in Q3 2024, and $75.8 million, or $0.97 per share in Q4 2023[7] - Non-GAAP net income for Q4 2024 was $21.3 million, or $0.27 per fully-diluted share, compared to $27.2 million, or $0.35 per share in Q3 2024, and $15.7 million, or $0.20 per share in Q4 2023[8] - Net income for the twelve months ended December 28, 2024, was $69.6 million, compared to $82.4 million in the previous year, reflecting a decrease of 15.5%[19] - Non-GAAP net income for the three months ended December 28, 2024, was $21.3 million, compared to $27.2 million in the previous quarter, a decrease of 21.6%[23] Gross Margin and Profitability - Gross margin for Q4 2024 was 38.8%, down from 40.7% in Q3 2024 and 40.4% in Q4 2023; fiscal 2024 gross margin was 40.3%, up from 39.0% in fiscal 2023[7] - Gross profit for the twelve months ended December 28, 2024, increased to $307.9 million, up 19.0% from $258.6 million in the previous year[19] - The company reported a GAAP gross margin of 38.8% for the three months ended December 28, 2024, down from 40.7% in the previous quarter[21] Cash Flow and Financial Health - Free cash flow for fiscal 2024 was $82.8 million, compared to $11.4 million for fiscal 2023[10] - Cash provided by operating activities for the twelve months ended December 28, 2024, was $117.5 million, significantly higher than $64.6 million in the previous year[25] - Net cash provided by operating activities for the three months ended December 28, 2024, was $35,913 thousand, an increase from $26,731 thousand in the previous quarter[27] - Free cash flow for the twelve months ended December 28, 2024, was $82,806 thousand, significantly higher than $11,404 thousand in the previous year[27] Expenses and Investments - Total operating expenses for the three months ended December 28, 2024, were $65.7 million, a slight decrease from $66.9 million in the previous quarter[19] - Research and development expenses for the twelve months ended December 28, 2024, were $121.9 million, an increase from $115.8 million in the previous year[19] - Capital expenditures for the twelve months ended December 28, 2024, were $38,436 thousand, down from $56,027 thousand in the previous year, reflecting a reduction in investment spending[27] Balance Sheet and Assets - Total current assets as of December 28, 2024, amounted to $605,128 thousand, compared to $573,780 thousand a year earlier, reflecting a growth of approximately 5.4%[29] - Cash and cash equivalents increased to $190,728 thousand from $177,812 thousand year-over-year, representing a growth of about 7.3%[29] - Total liabilities decreased slightly to $198,447 thousand from $197,990 thousand year-over-year, indicating a stable financial position[29] - Stockholders' equity as of December 28, 2024, was $947,768 thousand, up from $908,804 thousand a year earlier, showing an increase of approximately 4.3%[29] - Accounts receivable decreased to $104,294 thousand from $116,866 thousand in the previous quarter, indicating improved collection efficiency[29] Strategic Moves - FormFactor announced the acquisition of a 20% minority interest in FICT Limited for approximately $60 million, expected to close within the current quarter[4] - The company anticipates slow demand in high-unit-volume markets like client PCs and mobile handsets in Q1 2025, but expects overall product demand to increase throughout 2025[11] Management Insights - The company reported a non-GAAP net income, which is a key indicator for management's planning and forecasting, although specific figures were not disclosed in the provided content[30] - Management emphasizes the importance of free cash flow as a measure of liquidity, which is preferred by many investors for assessing the company's financial health[30]

FY24 revenue of $764 million, up 15.2% from $663 million in FY23, driven by growth in HBM revenue;Announces acquisition of minority interest in FICT Limited, a key supplier of industry-leading, high-performance advanced probe card components LIVERMORE, Calif., Feb. 05, 2025 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) today announced its financial results for the fourth quarter of fiscal 2024 ended December 28, 2024. Quarterly revenues were $189.5 million, a decrease of 8.9% compared to $207.9 millio ...

The global semiconductor industry is experiencing massive growth fueled by the demand for chips across high-performance computing, artificial intelligence, automotive and electric vehicle market, consumer electronics, networking, the Internet of Things, cloud computing and data centers.In the Jan. 7, 2025 report, the Semiconductor Industry Association reported that global semiconductor sales touched $57.8 billion in November 2024 with a year-over-year increase of 20.7%. The semiconductor chip sales increase ...

LIVERMORE, Calif., Jan. 15, 2025 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) will report financial results for its 2024 fiscal fourth quarter on Wednesday, February 5th, 2025, at 1:25 p.m. Pacific Time. The public is invited to listen to a live webcast of FormFactor's conference call on the Investors section of the company's web site at www.formfactor.com. To Listen via Telephone: Preregistration is required. Please preregister by clicking here. Upon registering, you will be emailed a dial-in number ...

FormFactor’s (FORM) shares have lost 26.1% in the trailing six months, underperforming the broader Zacks Computer and Technology sector’s return of 3.7% and the Zacks Electronics- Semiconductors industry’s appreciation of 15.7%.FORM shares have lagged industry peers like Marvell Technology (MRVL) , which have surged 63.8% over the same time frame.FormFactor's share price decline can be attributed to expected declines in demand for foundry and logic probe cards, which contributed to a sequential revenue decl ...

LIVERMORE, Calif., Jan. 07, 2025 (GLOBE NEWSWIRE) -- FormFactor, Inc. (NASDAQ:FORM), a leading supplier of electrical test and measurement solutions for the semiconductor industry, announced today that it has entered into technology partnership and share purchase agreements with Advantest Corporation (TSE: 6857). The expanded partnership and purchase of FormFactor shares by Advantest build upon a multi-year collaboration between the companies, including FormFactor's 2020 purchase of Advantest's probe-card a ...

Company Participation - FormFactor, Inc. will participate in the 27th Annual Needham Growth Conference on January 14-15, 2025 [1] - The company's CEO, Michael Slessor, is scheduled to present on January 15 at 10:15 AM ET [2] Webcast Information - A live webcast of FormFactor's presentation will be available on the company's investor section of its website [2] - A replay of the webcast will also be accessible on the same website [2] Company Overview - FormFactor, Inc. is a leading provider of test and measurement technologies throughout the IC life cycle, including characterization, modeling, reliability, design debug, qualification, and production testing [3] - The company supports semiconductor firms in enhancing profitability by optimizing device performance and improving yield knowledge [3] - FormFactor serves its customers through a network of facilities located in Asia, Europe, and North America [3]

Group 1 - The article discusses a service called SHU Growth Portfolio that focuses on small companies with high growth potential and offers a buy and hold investment strategy [2][3][4] - The service provides real-time buy and sell signals, a portfolio of stocks, buy alerts, and market updates to its community [1][2] - The analyst emphasizes the importance of companies having a defensible competitive advantage and operational leverage potential [1] Group 2 - The service aims to identify small companies with multi-bagger potential while managing risks through a diversified portfolio approach [4] - The community aspect includes a chat room for discussions and sharing insights among members [2][3] - The analyst has over 30 years of experience in financial markets, contributing to the credibility of the investment insights provided [4]

Group 1 - FormFactor, Inc. will participate in the 13th Annual NYC Summit investor conference on December 17, 2024, alongside 17 other companies [1][2] - The NYC Summit features a "round-robin" format allowing investors and analysts to engage in small group meetings with management teams from the participating companies [2][3] - The 18 companies hosting the NYC Summit include notable names such as ACM Research, Advanced Energy, and Kulicke & Soffa, with sponsorship from Stifel and TD Cowen [3][4] Group 2 - Attendance at the NYC Summit is by invitation only, limited to accredited investors and publishing research analysts, with a registration deadline of December 10, 2024 [4] - FormFactor is recognized as a leading provider of test and measurement technologies throughout the IC life cycle, serving customers globally from facilities in Asia, Europe, and North America [4]

Core Viewpoint - FormFactor reported strong Q3 2024 earnings, beating estimates and showing significant year-over-year growth in revenue and earnings per share [2][3][4]. Financial Performance - Adjusted earnings for Q3 2024 were 35 cents per share, exceeding the Zacks Consensus Estimate by 12.90% and increasing 59.1% year over year [2]. - Total revenues reached $207.9 million, surpassing the Zacks Consensus Estimate by 3.7% and reflecting a 21.2% increase year over year [3]. - Probe card revenues were $172.2 million, up 34.1% year over year, driven by strong demand in the DRAM segment [4]. Segment Analysis - DRAM revenues, which accounted for 29% of total revenues, were $60.2 million, marking a 118.9% increase year over year due to strong DDR5 demand [4]. - Foundry & Logic revenues were $107.5 million, up 11.5% year over year, representing 51.7% of total revenues [4]. - Flash revenues remained unchanged at $4.5 million, constituting 2.2% of total revenues [5]. - Systems revenues decreased by 17.4% year over year to $35.7 million, making up 17.2% of total revenues [6]. Geographic Revenue Breakdown - Revenue growth was observed in various regions: United States (+25.9%), Taiwan (+11.4%), South Korea (+18.8%), China (+58.3%), Japan (+15.7%), Singapore (+48.6%), and the rest of the world (+5%) [6]. - Conversely, revenues from Europe and Malaysia declined by 16.1% and 11.7%, respectively [7]. Operating Results - Gross margin increased by 40 basis points year over year to 42.2% [8]. - Non-GAAP operating expenses rose by 8.9% year over year to $59.3 million, but as a percentage of revenues, they decreased by 320 basis points to 28.5% [8]. - Non-GAAP operating margin expanded by 360 basis points year over year to 13.6% [9]. Cash Flow and Balance Sheet - As of September 28, 2024, cash and cash equivalents, along with marketable securities, totaled $354.5 million, slightly down from $357.6 million as of June 29, 2024 [10]. - Cash generated from operating activities was $26.7 million, up from $22 million in the previous quarter [10]. - Free cash flow increased to $20 million from $14.2 million in the previous quarter [11]. Q4 Guidance - For Q4 2024, FormFactor expects revenues of $190 million (+/- $5 million), indicating a 12.57% growth from the same quarter last year [12]. - The company anticipates a non-GAAP gross margin of 41% (+/- 1.5%) and earnings of 29 cents (+/- 4 cents) per share, with the Zacks Consensus Estimate at 31 cents per share, reflecting a 55% growth year over year [13]. Market Sentiment - Recent estimates for FormFactor have shown a downward trend, with a consensus estimate shift of -7.56% [14][15]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting an expectation of an in-line return in the coming months [17]. Industry Comparison - FormFactor operates within the Zacks Electronics - Semiconductors industry, where competitor Amkor Technology reported revenues of $1.86 billion, reflecting a year-over-year change of +2.2% [18]. - Amkor Technology's expected earnings for the current quarter indicate a decline of -14.6% from the previous year, with a Zacks Rank 5 (Strong Sell) [19].