FormFactor Q4 revenue beats estimates

FormFactor

04/02/2026 21:08

Overview

Semiconductor test tech firm's Q4 revenue rose 13.6% yr/yr, beating analyst expectations

Adjusted EPS for Q4 beat analyst expectations

Company had acquired Keystone Photonics to enhance optics testing capabilities

Outlook

FormFactor expects Q1'26 revenue of $225 mln +/- $5 mln

Company anticipates Q1'26 non-GAAP gross margin of 45% +/- 1.5%

FormFactor sees strong demand in advanced packaging and high-performance compute markets

Result Drivers

DRAM GROWTH - Record DRAM revenue driven by increased applications in DDR4 and DDR5

GROSS MARGIN IMPROVEMENT - 540 basis points of non-GAAP gross margin improvement in H2 2025

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$215.20 mln
$210.27 mln (10 Analysts)
Q4 Adjusted EPS
Beat
$0.46
$0.35 (10 Analysts)
Q4 Adjusted Net Income
Beat
$36.60 mln
$27.16 mln (9 Analysts)
Q4 Net Income
$23.20 mln
Q4 Gross Margin
42.20%
Q4 Adjusted Gross Margin
43.90%
Q4 Free Cash Flow
$34.70 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the semiconductor equipment & testing peer group is "buy"

Wall Street's median 12-month price target for FormFactor Inc is $64.00, about 14.3% below its February 3 closing price of $74.69

The stock recently traded at 47 times the next 12-month earnings vs. a P/E of 37 three months ago

Press Release: ID:nGNX3RKFdZ

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)