FormFactor, Inc. (FORM) SEC Filings & Earnings Calls

Transaction subject to regulatory approvals and customary closing conditions.

“The transaction is subject to customary closing conditions and regulatory approvals.” · word for word

Restructuring execution risk

“During the three and six months ended June 27, 2026, cost of revenues included $4.3 million and $25.8 million of restructuring costs, respectively, in connection with the 2026 Restructuring Plans.” · word for word

Flash revenue decline

“Flash revenue decreased 48.4% YoY in Q2 2026 due to decreased customer production activity and facility closure.”

Tariff refund uncertainty

“We paid tariffs under IEEPA, and are following the established refund filing and validation process through the CAPE system, along with other importers seeking IEEPA refunds.” · word for word

Dependence on semiconductor cycle; potential cyclical downturn.

“Revenue growth driven by HBM and advanced packaging; cyclical exposure.”

Tariff cost pressure on gross margin

“increased costs for tariffs which impacted gross margins by 1.4%.” · word for word

Restructuring execution risk

“consolidating the manufacturing facilities located in Carlsbad and Baldwin Park, California to other sites.” · word for word

Systems segment transition risk

“decline in probe station sales primarily reflects reduced demand for legacy product offerings as we transition toward production of Triton.” · word for word

Cyclical end-market weakness

“Customer investment in growing areas driven by the rapid adoption of generative AI, like high-bandwidth memory (HBM) and co-packaged optics, helped offset the impact of sectors at cyclically low levels, like mobile handsets, PCs, and automotive.” · word for word

Restructuring execution risk

“Early in January 2026, we announced a restructuring that we expect will enable us to further increase our profitability in 2026 and beyond.” · word for word

New facility ramp risk

“We anticipate this facility, in a low-cost manufacturing area, will enable us to meet anticipated future demand for advanced packaging-enabled probe cards while continuing our profitability improvement trajectory, albeit at a slower pace than achieved this year.” · word for word

Export Control Risk

“Trade restrictions for the export of advanced U.S. semiconductor technology to China has caused decreasing demand from Chinese customers.” · word for word

Tariff Cost Risk

“higher manufacturing costs, which included a 1.4% gross margin impact from increased costs for tariffs.” · word for word

Restructuring Execution Risk

“in the first quarter of 2026 we announced restructuring plans, which include the consolidation of the manufacturing facilities located in Carlsbad and Baldwin Park, California to other manufacturing facilities, that are expected to result in the Company recording restructuring charges in the aggregate amount of approximately $30 million to $40 million.” · word for word

Loss of experienced board member with CFO and operations background; but departure is orderly and non-contested.

“Kevin Brewer served as CFO and EVP Global Operations at Axcelis Technologies; currently on Audit and Governance committees.”

Execution risk in facility consolidation and headcount reduction; potential disruption to manufacturing operations.

“Consolidating two manufacturing facilities; actions expected to be largely completed by end of December 2026.”

Tariff cost pressure on gross margin

“For the three months ended September 27, 2025, compared to the three months ended September 28, 2024, gross profit and gross margins decreased due to higher manufacturing costs, which included increased costs for tariffs, partially offset by a favorable product mix as described above.” · word for word

China trade restriction impact on demand

“The increase in DRAM product revenue ... was driven by increased demand for high-bandwidth memory (“HBM”) designs ... partially offset by lower demand for other non-HBM DRAM designs, due to volatility from trade restrictions with China.”

Foundry & Logic demand weakness

“Foundry & Logic product revenue decreased 13.5% YoY, driven by weaker probe-card demand for client PC and server microprocessor designs.”

Equity investment in FICT may not perform as expected

“During the three and nine months ended September 27, 2025, we recorded income of $1.2 million and a loss of $2.3 million, respectively, from our equity share of the HoldCo using lag reporting.” · word for word

Revenue declined 2.5% YoY, indicating potential cyclical headwinds in semiconductor test demand

“Revenue decreased 2.5% from $207.9 million in Q3 2024”