| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 258.24 | 14.2% | 31.9% |
| Total Income | 258.24 | 14.2% | 31.9% |
| Expenditure | 200.44 | 4.3% | 9.2% |
| PBT | 60.69 | 215.1% | 306.2% |
| Net Profit | 56.21 | 175.8% | 518.4% |
| OPM | 22.38% | 15.02pp | 16.10pp |
| NPM | 21.77% | 12.75pp | 17.13pp |
| EPS | 0.72 | 176.9% | 500.0% |
FormFactor Reports Q2 2026 Record Revenue of $258.2 Million, Up 31.9% YoY
30 Jul 2026 · 30 Jul, 1:38 am
Summary
FormFactor, Inc. announced strong financial results for the second quarter of fiscal 2026, with record revenue of $258.2 million, up 31.9% year-over-year and 14.2% sequentially. Both GAAP and non-GAAP gross margins saw significant improvements, reaching 50.7% and 53.3% respectively. GAAP net income surged to $56.2 million ($0.71 per share) from $9.1 million ($0.12 per share) in the prior year's quarter. Management expressed optimism, highlighting broad-based demand and strategic partnerships as drivers for continued growth and profitability in the upcoming quarter.
Key Highlights
- 1
FormFactor reported record revenue of $258.2 million for the second quarter of fiscal 2026, an increase of 31.9% from the prior year's second quarter.
- 2
Quarterly revenues increased by 14.2% sequentially to $258.2 million compared to $226.1 million in the first quarter of fiscal 2026.
- 3
On a GAAP basis, net income for the second quarter of fiscal 2026 was $56.2 million, or $0.71 per fully-diluted share, a significant increase from $9.1 million, or $0.12 per share, in the second quarter of fiscal 2025.
- 4
Non-GAAP gross margin for the second quarter of 2026 was 53.3%, a substantial improvement from 38.5% in the second quarter of 2025.
- 5
Free cash flow for the second quarter of fiscal 2026 was $52.6 million, a significant turnaround from negative $47.1 million in the second quarter of fiscal 2025.
- 6
The company announced an expanded multi-year partnership with Keystone Microtech, reinforcing FormFactor's presence in the Taiwan semiconductor ecosystem.
Management Comments
Mike Slessor
Over the past four quarters, FormFactor has grown revenue more than 30%, expanded Non-GAAP gross margin 1,500 basis points, and tripled earnings per share. These improvements reflect years of investment to create and expand our unique position at the intersection of high-performance compute and advanced packaging, coupled with stronger execution to enhance profitability and drive operating leverage. As we look ahead to the third quarter, we continue to see strong demand across our end markets, with particular strength in Foundry & Logic and continued momentum in our Systems business, positioning us for another quarter of record revenue and profitability.
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