Formfactor Inc Stock Price, News & Analysis

FormFactor, Inc. (Nasdaq: FORM) reported Q3 2022 revenues of $180.9 million, down 11.3% sequentially and 4.8% year-over-year due to reduced demand for Foundry & Logic probe cards. Q3 net income was $4.4 million ($0.06 per diluted share), a significant drop from $30.2 million ($0.38 per diluted share) in Q2 2022. Gross margin also fell to 34.4%. The company is restructuring to align costs with lower demand projections extending into next year. Q4 2022 revenue guidance is set at $155 million +/- $5 million, with a gross margin forecast of 33% +/- 1.5%.

FormFactor, a semiconductor test and measurement supplier, launched the IQ2000™ Cryogenic Chip Scale Probe System, enhancing testing for quantum and cryogenic devices. This system cools devices to 4 Kelvin in under an hour, significantly faster than traditional methods. Key features include a load-lock chamber for rapid device cycling, options for < 2K and < 4K temperatures, and high-bandwidth testing capabilities. These advancements promise to accelerate quantum development by improving throughput and efficiency, benefiting developers in cutting-edge technology sectors.

FormFactor, Inc. (NASDAQ: FORM) will announce its fiscal 2022 Q3 financial results on October 26, 2022, at 1:25 p.m. PT. A live webcast of the conference call will be available on their website, with preregistration required for phone participants. This event offers investors insights into the company's performance and future outlook.

FormFactor specializes in test and measurement technologies throughout the IC life cycle, aiding semiconductor companies in enhancing profitability and device performance.

FormFactor, Inc. (NASDAQ: FORM) appointed Brian White to its Board of Directors as of September 26, 2022. White, with over 29 years in the semiconductor and high-tech sectors, previously served as CFO at Ambarella and Maxim Integrated. His extensive background includes leadership roles at Integrated Device Technology, Nvidia, Hitachi, and IBM. The Board chair, Tom St. Dennis, expressed confidence in White's ability to contribute to the company's growth and leadership in the semiconductor industry.

FormFactor, Inc. (Nasdaq: FORM) announced its participation in several upcoming investor conferences. Key events include the D.A. Davidson Big Sky Technology Summit in Montana from August 22-23, 2022, and the Citi’s 2022 Global Technology Conference in New York on September 7, 2022. Live webcasts of the presentations will be available on FormFactor's investor website, with replays also accessible thereafter. FormFactor specializes in test and measurement technologies for the semiconductor industry, helping companies optimize performance and increase profitability.

FormFactor reported strong Q2 results with revenues of $203.9 million, an increase of 3.4% from Q1 and 8.4% year-over-year. The company achieved GAAP net income of $30.2 million ($0.38/share) and a gross margin of 46.3%. FormFactor also acquired JanisULT's dilution refrigerator product line, enhancing its position in the quantum computing market. However, the outlook for Q3 indicates lower revenue of approximately $183 million and a reduced gross margin of 37.5%, driven by decreased demand from key customers.

FormFactor Reports Record Probe Card Revenues in 2021

FormFactor, Inc. (NASDAQ: FORM) achieved over $600M in probe card revenues for 2021, marking a 9% year-over-year increase. Ranked as the leading supplier of semiconductor probe cards by TechInsights, the company noted strong demand from Memory manufacturers and Foundry & Logic customers, driving growth in advanced wafer probe cards, which dominate the market. TechInsights predicts a 7% CAGR for advanced probe cards, reaching over $3.1 billion by 2026, indicating robust future growth in this sector.

FormFactor, Inc. (Nasdaq: FORM) will announce its financial results for the second quarter of fiscal 2022 on July 27, 2022, at 1:25 p.m. Pacific Time. Investors can join the live webcast on the company's website. Preregistration is required for telephone access. A replay of the call will be available afterward on the Investors section of FormFactor's website. FormFactor specializes in test and measurement technologies throughout the IC life cycle, serving semiconductor companies globally to enhance profitability and yield knowledge.

FormFactor, Inc. (NASDAQ: FORM) has launched a new lineup of cryogen-free dilution refrigerators (DRs), capable of cooling to sub-10 millikelvin, essential for superconducting quantum computers. This move positions FormFactor as the largest commercial DR supplier in the U.S. These systems include advanced features like broad options for test interfaces and cooling power ranging from 250 to 600 microwatts at 100 millikelvin. The global quantum computing market is projected to reach $16.4 billion by 2027, representing an 11.3% CAGR from 2021. FormFactor aims to enhance quantum technology development and expand customer relationships.