Revenue and Financial Performance - Record quarterly revenue of $207.9 million, a 5.3% increase from Q2 2024 and a 21.2% increase from Q3 2023[1] - Q4 2024 revenue outlook is $190 million +/- $5 million, with a GAAP gross margin of 40% +/- 1.5% and non-GAAP gross margin of 41% +/- 1.5%[7] - Strong DDR5 demand contributed to a third consecutive record-setting quarter of DRAM probe-card revenue[2] Net Income and Earnings Per Share - GAAP net income for Q3 2024 was $18.7 million, or $0.24 per fully-diluted share, compared to $19.4 million in Q2 2024 and $4.4 million in Q3 2023[3] - Non-GAAP net income for Q3 2024 was $27.2 million, or $0.35 per fully-diluted share, compared to $27.3 million in Q2 2024 and $17.3 million in Q3 2023[4] - Q4 2024 GAAP net income per diluted share is expected to be $0.16 +/- $0.04, with non-GAAP net income per diluted share of $0.29 +/- $0.04[7] - Non-GAAP Net Income for the nine months ended September 28, 2024, was $68.893 million, compared to $41.046 million for the same period in 2023[15] - Non-GAAP Diluted Earnings Per Share for the nine months ended September 28, 2024, was $0.88, up from $0.53 in the same period in 2023[15] Gross Margin - GAAP gross margin for Q3 2024 was 40.7%, compared to 44.0% in Q2 2024 and 40.4% in Q3 2023[3] - Non-GAAP gross margin for Q3 2024 was 42.2%, compared to 45.3% in Q2 2024 and 41.9% in Q3 2023[4] - Non-GAAP Gross Margin for the nine months ended September 28, 2024, was 42.2%, up from 40.3% in the same period in 2023[14] Cash Flow and Liquidity - GAAP net cash provided by operating activities for Q3 2024 was $26.7 million, compared to $21.9 million in Q2 2024 and $20.6 million in Q3 2023[6] - Free cash flow for Q3 2024 was $20.0 million, compared to $14.2 million in Q2 2024 and $16.9 million in Q3 2023[6] - Net Cash Provided by Operating Activities for the nine months ended September 28, 2024, was $81.621 million, compared to $55.352 million for the same period in 2023[16] - Free Cash Flow for the nine months ended September 28, 2024, was $53.957 million, compared to $11.714 million for the same period in 2023[17] - Free cash flow is used as an additional liquidity measure, complementing GAAP results[19] Capital Expenditures and Assets - Capital Expenditures for the nine months ended September 28, 2024, were $30.773 million, down from $46.094 million in the same period in 2023[16] - Total assets increased to $1,153.783 billion as of September 28, 2024, compared to $1,106.794 billion as of December 30, 2023[18] - Cash and cash equivalents decreased to $184.506 billion as of September 28, 2024, from $195.914 billion as of June 29, 2024[18] - Accounts receivable increased to $116.866 billion as of September 28, 2024, from $102.957 billion as of December 30, 2023[18] - Inventories decreased to $105.374 billion as of September 28, 2024, from $114.814 billion as of June 29, 2024[18] - Cash, Cash Equivalents, and Restricted Cash at the end of September 28, 2024, were $190.489 million, up from $113.708 million at the end of September 30, 2023[16] Liabilities and Equity - Total current liabilities decreased to $129.176 billion as of September 28, 2024, from $139.041 billion as of June 29, 2024[18] - Deferred revenue increased to $20.972 billion as of September 28, 2024, from $16.704 billion as of December 30, 2023[18] - Stockholders' equity increased to $955.010 billion as of September 28, 2024, from $908.804 billion as of December 30, 2023[18] Non-GAAP Financial Measures - Non-GAAP financial measures are used by management for planning, forecasting, and evaluating operating performance[19] - Non-GAAP adjustments exclude certain items to facilitate comparability of operating performance from period to period[19] - Non-GAAP Gross Profit for the nine months ended September 28, 2024, was $242.405 million, compared to $199.384 million for the same period in 2023[14] Other Expenses and Charges - Stock-Based Compensation Expense for the nine months ended September 28, 2024, was $29.550 million, compared to $29.333 million for the same period in 2023[16] - Restructuring Charges for the nine months ended September 28, 2024, were $856,000, compared to $1.540 million for the same period in 2023[14]

Record Quarterly Revenue, Profitability at the Top End of the Outlook Range; Sees Reduced Demand for Foundry and Logic in Q4, Partially Offset by Continued Strength in DRAM LIVERMORE, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) today announced its financial results for the third quarter of fiscal 2024 ended September 28, 2024. Quarterly revenues were $207.9 million, a company record and an increase of 5.3% compared to $197.5 million in the second quarter of fiscal 2024, and an ...

The market expects FormFactor (FORM) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on October 30, 2024, might help the stock move higher if these key numbers ...

FormFactor (FORM) closed the last trading session at $44.12, gaining 0.3% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $61.11 indicates a 38.5% upside potential.The mean estimate comprises nine short-term price targets with a standard deviation of $8.65. While the lowest estimate of $46 indicates a 4.3% increase from the current price level, the most optimistic analyst expects t ...

Shares of FormFactor (FORM) have gained 1.2% over the past four weeks to close the last trading session at $44.99, 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 $61.11 indicates a potential upside of 35.8%. The average comprises nine short-term price targets ranging from a low of $46 to a high of $74, with a standard deviation of $8.65. While the lowest estimate indicates an i ...

Shares of FormFactor Inc (FORM, Financial) surged 3.01% in mid-day trading on Oct 2. The stock reached an intraday high of $45.77, before settling at $45.50, up from its previous close of $44.17. This places FORM 28.49% below its 52-week high of $63.63 and 44.40% above its 52-week low of $31.51. Trading volume was 69,047 shares, 10.7% of the average daily volume of 647,436. Wall Street Analysts Forecast Based on the one-year price targets offered by 9 analysts, the average target price for FormFactor Inc (F ...

Investors might want to bet on FormFactor (FORM) , as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. Since a cha ...

FormFactor (FORM) has been on a downward spiral lately with significant selling pressure. After declining 31.9% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier. Guide to Identifying Oversold Stocks We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock ...

FormFactor (FORM) delivered second-quarter 2024 adjusted earnings of 35 cents per share, beating the Zacks Consensus Estimate by 12.90%. The company reported earnings of 14 cents per share in the year-ago quarter. Revenues of $197 million beat the Zacks Consensus Estimate by 1.26% and increased 26.7% on a year-overyear basis. The top-line growth can primarily be attributed to robust demand for probe cards. Segments in Detail Probe card revenues were $166.8 million, up 44.7% year over year. Foundry & Logic ( ...

Q2 Revenue and Profitability Exceed the Midpoint of the Outlook Range; Sees Steady Overall Demand in the Third Quarter LIVERMORE, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) today announced its financial results for the second quarter of fiscal 2024 ended June 29, 2024. Quarterly revenues were $197.5 million, an increase of 17.0% compared to $168.7 million in the first quarter of fiscal 2024, and an increase of 26.7% from $155.9 million in the second quarter of fiscal 2023. Pro ...