Formfactor ( (FORM) ) has released its Q4 earnings. Here is a breakdown of the information Formfactor presented to its investors.
FormFactor, Inc. is a prominent provider of crucial test and measurement technologies for the semiconductor industry, focusing on advancing device performance and yield knowledge through its global network.
In its latest financial results, FormFactor reported a 15.2% increase in revenue for fiscal year 2024, reaching $764 million, primarily driven by significant growth in High Bandwidth Memory (HBM) revenue. The company also announced the acquisition of a minority interest in FICT Limited, a key supplier of advanced probe card components.
Key performance highlights include a fourfold increase in HBM revenue and a continued record-setting performance in DRAM probe-card revenue during the fourth quarter. The acquisition of a stake in FICT Limited is expected to strengthen FormFactor’s position in the advanced packaging market, enhancing its technological capabilities and market reach.
Despite a sequential decline in fourth-quarter revenue and gross margin, FormFactor has demonstrated robust non-GAAP net income growth for fiscal 2024, reflecting strong operational performance. The company’s strategic focus on expanding its market presence in advanced packaging and high-performance compute applications remains evident.
Looking ahead, FormFactor anticipates continued challenges in key markets like PCs and mobile handsets but expects an overall increase in demand for its products throughout 2025, underscoring a cautiously optimistic outlook according to its management.