Formfactor (FORM)
NASDAQ:FORM
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Earnings Data
Report Date
Aug 05, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.61Last Year’s EPS
0.27Same Quarter Last Year
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights strong operational execution: record sequential revenue, significant non-GAAP gross margin expansion (510 bps QoQ) and improving non-GAAP profitability, driven by probe card demand (notably HBM and networking), product wins (GPU, ASICs), accelerating CPO ramp and disciplined cost/operational improvements. Offsetting risks include GAAP impact from restructuring charges, systems segment seasonality and margin pressure, tariff uncertainty, and near-term capacity constraints until the Farmers Branch site ramps late in 2026. Liquidity is healthy and management provided constructive guidance for Q2 and a credible plan for durable margin improvement. Overall, the positive operational and financial momentum and clear roadmap outweigh the transitory and structural challenges noted.Company Guidance
Record Revenue and Upward Guidance
Q1 2026 revenue of $226.1 million, $1.1 million above the midpoint of guidance. Company reports sequential all-time record revenue and guides Q2 2026 revenue of $240 million +/- $5 million (≈ +6.2% vs Q1).
Material Non-GAAP Gross Margin Improvement
Q1 2026 non-GAAP gross margin of 49.0%, up 510 basis points from Q4 2025 (43.9%) and 250 basis points above the high end of prior Q1 outlook; Q2 non-GAAP gross margin guide of 49.5% +/- 150 bps.
Strong Non-GAAP Profitability
Q1 2026 non-GAAP net income of $44.5 million or $0.56 per diluted share, up from $36.6 million or $0.46 in Q4 2025 (≈ +21.6% in non-GAAP net income and ≈ +21.7% in non-GAAP EPS sequentially).
Segment Margin Leadership in Probe Cards
Probe card segment non-GAAP gross margin rose 603 basis points to 50.5% in Q1, driven by higher volumes, yield and cycle time improvements and Smart Matrix adoption for HBM at-speed testing.
Product Wins and Customer Momentum
New customer adoption: a second customer increased adoption of Smart Matrix for HBM, a 10% revenue customer emerged associated with networking, GPU qualification nearing completion with expected ~$20 million in H2 revenue, and a multimillion-dollar ASIC design win with hyperscalers.
CPO (Co-Packaged Optics) and Systems Progress
Triton production test system ramp accelerating; 2026 CPO revenue expected at the high end of previously guided $10M–$20M range. Successful Keystone Photonics integration and new Flatiron dilution refrigerator announced for quantum measurements.
Operational Execution and Durable Cost Improvements
Company reports cumulative gross margin improvement of >1,000 basis points over last 3 quarters driven by restructuring, yield/cycle-time improvements and better workforce/tool utilization; expects durable improvements and further ~50 bps expansion at midpoint of Q2 guide.
Healthy Liquidity and Capital Plan
Cash and investments of $303 million (up $28.1 million sequentially). Remaining buyback authorization $70.9 million under the $75 million program; prioritizing capital deployment for Farmers Branch with expected 2026 cash CapEx of $140M–$170M and potential ~$24M in cash grants/incentives.
FORM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FORM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $135.53 | $135.93 | +0.30% |
Feb 04, 2026 | $71.57 | $83.87 | +17.19% |
Oct 29, 2025 | $47.72 | $59.25 | +24.16% |
Jul 30, 2025 | $34.42 | $28.41 | -17.46% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Formfactor (FORM) report earnings?
Formfactor (FORM) is schdueled to report earning on Aug 05, 2026, TBA (Confirmed).
What is Formfactor (FORM) earnings time?
Formfactor (FORM) earnings time is at Aug 05, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FORM EPS forecast?
FORM EPS forecast for the fiscal quarter 2026 (Q2) is 0.61.