FormFactor/$FORM

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About FormFactor

FormFactor Inc is a provider of electrical and optical test and measurement technologies along the full semiconductor product lifecycle - from characterization, modeling, reliability, and design de-bug, to qualification and production test.. The company operates in two reportable segments namely Probe Cards Segment and the Systems Segment. Sales of probe cards and analytical probes are included in the Probe Cards Segment, while sales of probe stations and thermal sub-systems are included in the Systems Segment. Probe cards generate the maximum revenue from its operations. It offers multiple product lines which include analytical probes, probe stations, thermal sub-systems, and related services.

Ticker

$FORM

Sector

Semiconductors
Primary listing

Employees

2,238

FormFactor Metrics

BasicAdvanced
$2.3B
52.07
$0.57
1.16
-

What the Analysts think about FormFactor

Analyst ratings (Buy, Hold, Sell) for FormFactor stock.

Bulls say / Bears say

FormFactor posted Q2 revenues of $195.8 million, exceeding the upper end of its guidance and growing 14.3% sequentially, fueled by strong probe-card segment performance (FormFactor Q2 2025 Results GLOBE Newswire Jul 30, 2025)
The company is supplying probe cards in high volume to all three major high-bandwidth memory (HBM) producers, positioning itself to capture gains in an HBM sector projected to expand at a 42% annual rate to $130 billion by 2033 (FormFactor Q2 2025 Results GLOBE Newswire Jul 30, 2025; High-Bandwidth Memory Chip Market Could Grow to $130 Billion by 2033 Bloomberg Intelligence Jan 13, 2025)
Growth in AI server deployments is expected to drive up memory content per chip and lift semiconductor test equipment spending by $1 billion–$1.5 billion for every 1% of AI penetration, favoring specialized testing and probe-card vendors like FormFactor (Chipmakers signal supply glut easing but demand recovery still slow Reuters Jul 2, 2025)
Non-GAAP gross margin fell to 38.5% in Q2 from 45.3% a year earlier, coming in below the company’s targets due to an unfavorable product mix and ramp-up expenses, indicating continued margin pressures (FormFactor Q2 2025 Results GLOBE Newswire Jul 30, 2025)
Free cash flow turned negative to $47.1 million for the quarter, as $66.3 million in capital expenditures and ramp-up costs raised concerns about short-term cash burn (FormFactor Q2 2025 Results GLOBE Newswire Jul 30, 2025)
FormFactor’s Q3 non-GAAP EPS guidance is $0.25 at the midpoint, well below the $0.33 consensus; this led to a stock selloff despite beating on revenue, reflecting investor doubt about near-term profitability recovery (FormFactor (FORM) Surprises With Q2 Sales But Stock Drops 16% Finviz Jul 30, 2025)
Data summarised monthly by Lightyear AI. Last updated on 29 Aug 2025.

FormFactor Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

FormFactor Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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