The earnings call presented a mixed outlook. While FormFactor achieved revenue exceeding expectations and made strategic investments for long-term growth, the company faced significant gross margin challenges, tariff impacts, and increased operating expenses. Despite expanding its customer base and receiving recognition for customer satisfaction, the financial metrics indicate a need for improvement in profitability.

Company Guidance -

Q3 2025

During the second quarter of 2025, FormFactor reported revenues of $195.8 million, surpassing the high end of their outlook range by $0.8 million, largely due to unexpected growth in their probe card business. However, the non-GAAP gross margin fell to 38.5%, below expectations, primarily due to an unfavorable product mix shift and unforeseen ramp-up costs for a second HBM DRAM customer. Looking ahead to the third quarter, FormFactor anticipates revenues to remain stable, while projecting a slight increase in gross margin to 40% and operating profit. Despite these challenges, FormFactor remains optimistic about future growth, driven by advanced packaging and generative AI, and has made strategic investments to enhance long-term competitiveness and profitability. The company also reported a non-GAAP EPS of $0.27 for the quarter, $0.1 above the lower end of the outlook, with their probe cards segment seeing a significant revenue increase, highlighting their industry leadership and strong customer partnerships.

Revenue Exceeds Expectations

FormFactor reported second quarter revenue of $195.8 million, which exceeded the high end of the outlook range by $0.8 million, representing a 14.3% increase from the first quarter.

Strategic Investments

FormFactor made two strategic investments by acquiring a manufacturing facility in Farmers Branch, Texas, and a minority equity investment in FICT, aimed at improving long-term competitiveness and profitability.

Growth in DRAM and HBM

DRAM revenues increased by 16.8% from the first quarter, with HBM revenues rising by $7.4 million to $37 million in Q2.

Customer Satisfaction Recognition

FormFactor was recognized as the #1 global supplier in test subsystems and focused chip-making equipment categories in the annual TechInsights' 2025 global customer satisfaction survey.

Formfactor (FORM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

FORM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	0.25 / -	0.35	―	―	―
Jul 30, 2025	2025 (Q2)	0.30 / 0.27	0.35	-22.86% (-0.08)
Apr 30, 2025	2025 (Q1)	0.19 / 0.23	0.18	27.78% (+0.05)
Feb 05, 2025	2024 (Q4)	0.29 / 0.27	0.2	35.00% (+0.07)
Oct 30, 2024	2024 (Q3)	0.31 / 0.35	0.22	59.09% (+0.13)
Jul 31, 2024	2024 (Q2)	0.31 / 0.35	0.14	150.00% (+0.21)
May 01, 2024	2024 (Q1)	0.19 / 0.18	0.16	12.50% (+0.02)
Feb 07, 2024	2023 (Q4)	0.20 / 0.20	0.05	300.00% (+0.15)
Nov 01, 2023	2023 (Q3)	0.17 / 0.22	0.24	-8.33% (-0.02)
Aug 02, 2023	2023 (Q2)	0.12 / 0.14	0.46	-69.57% (-0.32)

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
Jul 30, 2025	$34.42	$28.41	-17.46%
Apr 30, 2025	$28.14	$28.97	+2.95%
Feb 05, 2025	$41.12	$38.33	-6.79%
Oct 30, 2024	$43.81	$37.98	-13.31%

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 Oct 22, 2025, TBA (Confirmed).

What is Formfactor (FORM) earnings time?

Formfactor (FORM) earnings time is at Oct 22, 2025, 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 2025 (Q3) is 0.25.

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