FormFactor(NASDAQ) FORM

FormFactor, Inc. helps chip makers test their products. It makes tools that find defects in computer processors. These tests ensure that phones and computers work correctly.

What FormFactor Makes

• Foundry and Logic: Probe cards used to test system-on-chip products, microprocessors, and graphics processors; accounted for 47.2% of revenues in the three months ended June 27, 2026.
• DRAM: Testing solutions for dynamic random-access memory, including high-bandwidth memory for artificial intelligence; accounted for 32.9% of revenues in the three months ended June 27, 2026.
• Systems: Probe stations and thermal systems used by engineers to analyze semiconductor data; accounted for 18.8% of revenues in the three months ended June 27, 2026.
• Flash: Testing components for NAND and NOR flash memory devices; accounted for 1.1% of revenues in the three months ended June 27, 2026.

Building for the Future

• Purchased a manufacturing site in Farmers Branch, Texas, in June 2025 to expand production capacity.
• Introduced Triton, a high-volume testing solution designed for co-packaged optics, which are advanced components used in high-speed data networks.
• Adopted restructuring plans in Jan. 2026 to consolidate manufacturing facilities in Carlsbad and Baldwin Park, California.

Why This Company Stands Out

The company maintains a global footprint with shipping locations across Taiwan, South Korea, and the United States to serve major semiconductor hubs. Its technical focus includes developing testing platforms for artificial intelligence applications and high-speed optical communications.

The Financial Scorecard

• Net income was $76.6 million in the first six months of fiscal 2026, compared to $15.5 million in the first six months of fiscal 2025.
• Total revenue reached $484.4 million in the first six months of fiscal 2026, up 31.9% year over year.
• DRAM product revenue grew 58.6% year over year during the first six months of fiscal 2026.
• Cash, cash equivalents, and marketable securities totaled $345.6 million as of June 27, 2026.

Bottom Line

FormFactor has evolved from a specialized probe card maker into a provider of testing systems for artificial intelligence and optical networking. Its move to consolidate manufacturing and expand in Texas reflects a strategy to improve efficiency as chip complexity increases.