FORM
FormFactor, Inc.55.98
-0.28-0.5%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
4.34BP/E (TTM)
105.62Basic EPS (TTM)
0.53Dividend Yield
0%Recent Filings
8-K
Q3 revenue beats outlook
FormFactor reported Q3 fiscal 2025 revenue of $202.7 million, up 3.5% from Q2's $195.8 million but down 2.5% from last year's $207.9 million, with GAAP gross margin rising to 39.8% from 37.3%. DRAM probe cards hit a record on HBM growth, while the Systems segment gained traction toward co-packaged optics production. Gross margin actions delivered 250 basis points improvement. Q4 outlook projects $210 million revenue and 42.0% non-GAAP gross margin, yet trade barriers pose risks.
8-K
CFO transition announced
FormFactor announced on August 12, 2025, that Shai Shahar resigned as Senior Vice President and CFO effective August 8, 2025, transitioning to Senior Vice President, Executive Advisor through year-end. Aric McKinnis, the company's Vice President and Corporate Controller since 2022, steps in as the new CFO, bringing six years of internal experience plus prior roles at MKS Instruments and Deloitte. This smooth internal promotion aims to drive execution and financial performance amid ongoing growth. The company reaffirmed its Q3 2025 outlook unchanged.
10-Q
Q2 FY2025 results
FormFactor's Q2 FY2025 revenues dipped 0.8% y/y to $195.8M, with Probe Cards down 2.9% y/y to $162.1M amid softer Foundry & Logic demand, yet Systems rose 9.8% y/y to $33.7M on cryogenic and thermal gains; gross margin slipped to 37.3% from 44.0% y/y due to tariff hikes and product mix shifts. Operating income fell to $12.3M from $17.8M y/y, while diluted EPS held at $0.12, reconciling to 77.5M shares with no anti-dilution flagged. Cash from operations totaled $42.4M YTD, funding $84.8M capex including a $55M Texas facility; free cash flow stood at -$42.4M YTD (derived), with $67.4M cash and $12.8M term debt at 2.75% fixed via swap. A $67.2M equity stake in FICT added strategic supply ties but a $3.5M lag loss. Acquisitions like this strain integration resources.
8-K
FormFactor secures $150M credit facility
FormFactor secured a $150 million revolving credit facility maturing July 29, 2030, for working capital and general corporate purposes, with interest tied to Term SOFR or base rate plus a leverage-based margin. The deal bolsters liquidity amid steady Q2 revenue of $195.8 million, up 14% sequentially but down 1% year-over-year, driven by HBM and probe-card strength. Bylaws were amended to align with SEC rules and streamline operations. This enhances financial flexibility, yet rising debt covenants demand vigilant leverage management.
8-K
Equity plan shares increased
FormFactor's stockholders approved an amendment to the 2012 Equity Incentive Plan at the May 16, 2025 annual meeting, boosting the share reserve by 2,200,000 to fuel long-term incentives. This bolsters talent retention amid competitive tech talent wars, while electing a refreshed eight-member board and ratifying KPMG as auditors. Equity pool expansion signals confidence in growth. Yet dilution looms for shareholders.
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