We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FORM's Q3 Earnings Surpass Estimates, Revenues Up Y/Y, Shares Rise
Read MoreHide Full Article
Key Takeaways
FormFactor posted Q3 earnings of $0.33 per share, beating estimates by 32%.
Revenues of $202.7 million exceeded forecasts but slipped 2.5% year over year.
Guidance calls for Q4 revenues near $210 million and earnings around 35 cents per share.
FormFactor (FORM - Free Report) reported third-quarter 2025 non-GAAP earnings of 33 cents per share, comfortably surpassing the Zacks Consensus Estimate by 32%. The bottom line decreased 5.7% year over year. Shares were up 23.5% at the time of writing this article.
Revenues of $202.7 million beat the Zacks Consensus Estimate by 1.31% but decreased 2.5% year over year.
FORM’s Segmental Revenue Details
Probe card revenues were $166.4 million, down 3.4% year over year. The decrease was driven by lower Foundry & Logic revenues. Foundry & Logic revenues (45.8% of the total revenues) were $92.9 million, down 13.6% year over year. DRAM revenues (33.6% of the total revenues) were $68.2 million, up 13.3% year over year. Flash revenues (2.6% of the total revenues) were $5.3 million, up 17.8% year over year.
Systems revenues (17.9% of the total revenues) were $36.3 million, up 1.7% year over year.
FormFactor, Inc. Price, Consensus and EPS Surprise
Revenues generated from South Korea, Japan, Malaysia, Singapore and the Rest of the World increased 69.8%, 40.7%, 9.4%, 80% and 14.3%, respectively, year over year. However, revenues from the United States, Taiwan, China and Europe declined 33.8%, 2.1%, 66.1% and 5.1%, respectively, year over year.
FORM’s Operating Results
In the third quarter of 2025, the gross margin contracted 110 basis points (bps) year over year to 41%.
Non-GAAP operating expenses decreased 8% year over year to $54.6 million. As a percentage of revenues, operating expenses were down 160 bps year over year to 26.9%.
The non-GAAP operating margin improved 50 bps year over year to 14.1%.
FormFactor’s Balance Sheet & Cash Flow
As of Sept. 27, 2025, cash and cash equivalents, and marketable securities were $266 million compared with $249.3 million as of June 28, 2025.
Cash generated from operating activities was $27 million in the reported quarter, up from $18.9 million in the previous quarter. Free cash flow was $19.7 million.
FORM Offers Optimistic Q3 Guidance
FORM expects third-quarter 2025 revenues of $210 million (+/- $5 million). The Zacks Consensus Estimate for revenues is currently pegged at $199.43 million, suggesting 5.3% growth over the figure reported in the year-ago quarter.
The company expects a non-GAAP gross margin of 42% (+/- 1.5%).
On a non-GAAP basis, FORM expects earnings of 35 cents (+/- 4 cents) per share. The Zacks Consensus Estimate for earnings is currently pegged at 28 cents per share, suggesting 3.7% growth over the figure reported in the year-ago quarter.
FormFactor’s Zacks Rank & Stocks to Consider
FormFactor currently carries a Zacks Rank #3 (Hold).
Cirrus Logic shares have returned 31.9% year to date. CRUS is scheduled to release second-quarter fiscal 2026 results on Nov. 4. Cirrus Logic sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Fair Isaac shares have dropped 21.3% year to date. This Zacks Rank #1 company is scheduled to release fourth-quarter fiscal 2025 results on Nov. 5.
CoreWeave shares have surged 249.9% since its initial public offering. CRWV is set to report its third-quarter 2025 results on Nov. 10. CoreWeave currently has a Zacks Rank #2 (Buy).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
FORM's Q3 Earnings Surpass Estimates, Revenues Up Y/Y, Shares Rise
Key Takeaways
FormFactor (FORM - Free Report) reported third-quarter 2025 non-GAAP earnings of 33 cents per share, comfortably surpassing the Zacks Consensus Estimate by 32%. The bottom line decreased 5.7% year over year. Shares were up 23.5% at the time of writing this article.
Revenues of $202.7 million beat the Zacks Consensus Estimate by 1.31% but decreased 2.5% year over year.
FORM’s Segmental Revenue Details
Probe card revenues were $166.4 million, down 3.4% year over year. The decrease was driven by lower Foundry & Logic revenues. Foundry & Logic revenues (45.8% of the total revenues) were $92.9 million, down 13.6% year over year. DRAM revenues (33.6% of the total revenues) were $68.2 million, up 13.3% year over year. Flash revenues (2.6% of the total revenues) were $5.3 million, up 17.8% year over year.
Systems revenues (17.9% of the total revenues) were $36.3 million, up 1.7% year over year.
FormFactor, Inc. Price, Consensus and EPS Surprise
FormFactor, Inc. price-consensus-eps-surprise-chart | FormFactor, Inc. Quote
Revenues generated from South Korea, Japan, Malaysia, Singapore and the Rest of the World increased 69.8%, 40.7%, 9.4%, 80% and 14.3%, respectively, year over year. However, revenues from the United States, Taiwan, China and Europe declined 33.8%, 2.1%, 66.1% and 5.1%, respectively, year over year.
FORM’s Operating Results
In the third quarter of 2025, the gross margin contracted 110 basis points (bps) year over year to 41%.
Non-GAAP operating expenses decreased 8% year over year to $54.6 million. As a percentage of revenues, operating expenses were down 160 bps year over year to 26.9%.
The non-GAAP operating margin improved 50 bps year over year to 14.1%.
FormFactor’s Balance Sheet & Cash Flow
As of Sept. 27, 2025, cash and cash equivalents, and marketable securities were $266 million compared with $249.3 million as of June 28, 2025.
Cash generated from operating activities was $27 million in the reported quarter, up from $18.9 million in the previous quarter. Free cash flow was $19.7 million.
FORM Offers Optimistic Q3 Guidance
FORM expects third-quarter 2025 revenues of $210 million (+/- $5 million). The Zacks Consensus Estimate for revenues is currently pegged at $199.43 million, suggesting 5.3% growth over the figure reported in the year-ago quarter.
The company expects a non-GAAP gross margin of 42% (+/- 1.5%).
On a non-GAAP basis, FORM expects earnings of 35 cents (+/- 4 cents) per share. The Zacks Consensus Estimate for earnings is currently pegged at 28 cents per share, suggesting 3.7% growth over the figure reported in the year-ago quarter.
FormFactor’s Zacks Rank & Stocks to Consider
FormFactor currently carries a Zacks Rank #3 (Hold).
Cirrus Logic (CRUS - Free Report) , Fair Isaac (FICO - Free Report) and CoreWeave (CRWV - Free Report) are some better-ranked stocks that investors can consider in the broader Zacks Computer and Technology sector.
Cirrus Logic shares have returned 31.9% year to date. CRUS is scheduled to release second-quarter fiscal 2026 results on Nov. 4. Cirrus Logic sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Fair Isaac shares have dropped 21.3% year to date. This Zacks Rank #1 company is scheduled to release fourth-quarter fiscal 2025 results on Nov. 5.
CoreWeave shares have surged 249.9% since its initial public offering. CRWV is set to report its third-quarter 2025 results on Nov. 10. CoreWeave currently has a Zacks Rank #2 (Buy).