| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 226.14 | 32.0% |
| Total Income | 226.14 | 32.0% |
| Expenditure | 209.50 | 24.6% |
| PBT | 19.26 | 157.5% |
| Net Profit | 20.38 | 218.4% |
| OPM | 7.36% | 5.45pp |
| NPM | 9.01% | 5.28pp |
| EPS | 0.26 | 225.0% |
FormFactor Reports Q1 2026 Record Revenue of $226.1 Million, Up 32% YoY
03 May 2026 · 3 May, 5:27 pm
Summary
FormFactor, Inc. reported record revenue for the first quarter of fiscal 2026, reaching $226.1 million, a 32.0% increase year-over-year. The company's GAAP net income was $20.4 million, or $0.26 per fully-diluted share, while non-GAAP net income was $44.5 million, or $0.56 per fully-diluted share. Gross margins also increased, with GAAP gross margin at 38.4% and non-GAAP gross margin at 49.0%. The company expects to set another revenue record in the second quarter, with sequential increases in gross margin and earnings per share.
Key Highlights
- 1
FormFactor's first quarter revenue reached a record $226.1 million, reflecting a 32.0% increase compared to the first quarter of fiscal 2025.
- 2
The company's revenue increased by 5.1% compared to $215.2 million in the fourth quarter of fiscal 2025.
- 3
GAAP net income for the first quarter of fiscal 2026 was $20.4 million, or $0.26 per fully-diluted share.
- 4
Non-GAAP net income for the first quarter of fiscal 2026 was $44.5 million, or $0.56 per fully-diluted share.
- 5
GAAP gross margin for the first quarter of 2026 was 38.4%, compared with 37.7% in the first quarter of 2025.
- 6
Non-GAAP gross margin for the first quarter of 2026 was 49.0%, compared with 39.2% in the first quarter of 2025.
- 7
GAAP net cash provided by operating activities for the first quarter of fiscal 2026 was $45.0 million.
Management Comments
Mike Slessor
FormFactor’s first quarter revenue grew sequentially to the second consecutive all-time record, with gross margin and earnings per share significantly above the high end of our outlook range. These outstanding results exceed our target model on a quarterly run-rate basis and together with our current quarter outlook is expected to validate the model on an annualized basis. In the second quarter, we expect to again set a revenue record and deliver sequential increases in both gross margin and earnings per share, extending the momentum that began in the second half of last year.
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