LIVERMORE, Calif., April 10, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (NASDAQ:FORM) will report financial results for its 2024 fiscal first quarter on Wednesday, May 1st, 2024, 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, dir ...

LIVERMORE, Calif., April 10, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) will report financial results for its 2024 fiscal first quarter on Wednesday, May 1st, 2024, 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, di ...

LIVERMORE, Calif., March 21, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (NASDAQ:FORM) today announced the appointment of Kevin Brewer to its Board of Directors effective immediately. "We are pleased to welcome Kevin Brewer to the Board of Directors of FormFactor," said Tom St. Dennis, Chairperson of the Board of Directors. "Kevin has a strong background in finance and operations that will be of great value to FormFactor as the company achieves and surpasses our target financial model." Mr. Brewer joins the F ...

A month has gone by since the last earnings report for FormFactor (FORM) . Shares have added about 18.5% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is FormFactor due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. FormFactor Q4 Earnings Meet Estimates, Revenues RiseFo ...

LIVERMORE, Calif., Feb. 29, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (NASDAQ:FORM), a leading semiconductor test and measurement supplier, together with Tabor Electronics LLC, today presented the Echo-5Q project, a demonstration of a full stack 5-Qubit Quantum Computer for research and education, leveraging a QPU supplied by QuantWare. The result of this collaboration shows the ability of the partnering companies to support the quantum industry with their respective technologies. The turnkey Quantum Comput ...

LIVERMORE, Calif., Feb. 26, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (NASDAQ:FORM) is pleased to announce the closing of its sale of FormFactor's Suzhou and Shanghai companies to Grand Junction Semiconductor Pte. Ltd. (GJS), for $25M in cash, subject to taxes and customary purchase price adjustments. The transaction is part of a long-term partnership between the two companies, initially announced February 7th, 2024, which also includes an exclusive distribution and partnership agreement to continue sales a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-50307 FormFactor, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-50307 FormFactor, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

Financial Data and Key Metrics Changes - Q3 2023 revenues were $171.6 million, a 10% sequential increase but a year-over-year decrease of 5.1% [72] - Non-GAAP gross margin and non-GAAP EPS were above the high end of the outlook range [72] - Q3 probe card segment revenues were $128.3 million, an increase of 11.3% from Q2, while DRAM revenues decreased by 10.2% to $27.4 million [72][73] Business Line Data and Key Metrics Changes - Foundry and logic probe card revenues increased to $96.4 million, a 17.7% increase from Q2, contributing 56.2% of total revenues [72] - System segment revenues reached a record $43.2 million, comprising 25.2% of total revenues, slightly down from 26% in Q2 [72] - Flash revenues increased to $4.5 million, a 55.2% increase from Q2 [72] Market Data and Key Metrics Changes - The company noted a stable demand environment across its diversified product portfolio, with signs of bottoming in key markets like client PC and mobile [68] - The foundry space experienced strong demand for probe cards testing high-performance compute designs [69] - The mobile handset market has been challenging, but there are indications of stabilization [46] Company Strategy and Development Direction - The company is focused on advanced packaging applications, including chiplets and high bandwidth memory, as key growth areas [68][70] - Investments in R&D are prioritized to maintain competitive differentiation and align with customer needs in advanced packaging [68][71] - The company aims to achieve a target model of $850 million in revenue with $2 of non-GAAP EPS [71] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the industry, noting that while demand remains cyclical, there are signs of stabilization [68] - The company expects to see a stronger contribution from DRAM probe cards in Q4, driven by HBM and DDR5 [76] - Management highlighted the importance of maintaining a balance between short-term results and long-term investments [68] Other Important Information - The company completed the sale of its FRT business, which impacted Q4 revenue outlook [68] - A new two-year $75 million share repurchase program was approved to offset dilution from stock-based compensation [74] - The company anticipates a decrease in CapEx for 2024 compared to 2023, focusing on capacity alignment with demand [74][75] Q&A Session All Questions and Answers Question: Can you provide clarity on HBM revenue in Q3 and expectations for Q4? - HBM revenue in Q3 was approximately $10 million, with expectations for strengthening in Q4, although volatility is anticipated [22][21] Question: What is the outlook for advanced packaging and its growth rate? - Advanced packaging is expected to significantly outgrow the industry, with the company well-positioned to capitalize on this trend [49] Question: How is the company addressing the challenges in the China market? - The company faces structural challenges due to export controls, but expects the domestic China business to stabilize over time [38] Question: What are the key areas of focus for R&D spending in the upcoming year? - R&D spending will focus on advanced packaging, chiplets, and aligning product roadmaps with customer needs [63]

Yes. It is a good question and it drives to some of the underlying gross margin fluctuations that Shai talked about. Whether it is increasing the value of what we do in a market like DRAM by making sure that we have compelling differentiated products for new things like HBM that certainly helps gross margins out in a segment that has been gross margin challenged over the past several years. We are also investing in R&D to improve our competitiveness and profitability with some of these platforms. So over th ...