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FormFactor, Inc.

Q2 FY26Semiconductors and Semiconductor Equipment

FormFactor, Inc. Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management said on revenue, margins and capex.

What the Q2 FY26 call signalled

3 of 4 strong

RevenueModerate growth
MarginMargins slightly up
CapexCapex planned
Order bookOrder book rising
Price₹130
Market cap₹10.2K Cr
P/E156.9

The short version

- FormFactor expects continued strong revenue growth, with Q2 2026 guidance at $240 million ± $5 million, up from $226.1 million in Q1. - Growth driven by increased demand in advanced DRAM probe cards, especially HBM (over 50% growth from H1 2025 to H1 2026). - Expansion in foundry and logic probe cards fueled by networking and data center CPU applications linked to AI compute intensification. - Farmers Branch manufacturing site ramping up later this year, planned to reach substantial capacity (approx. - Q2 2026 revenues are expected at $240 million ± $5 million, indicating continued growth.

From FormFactor, Inc.'s Q2 FY26 earnings-call transcript · updated 30 May 2026.

Revenue & Sales Performance

Moderate growth
  • FormFactor expects continued strong revenue growth, with Q2 2026 guidance at $240 million ± $5 million, up from $226.1 million in Q1.
  • Growth driven by increased demand in advanced DRAM probe cards, especially HBM (over 50% growth from H1 2025 to H1 2026).
  • Expansion in foundry and logic probe cards fueled by networking and data center CPU applications linked to AI compute intensification.
  • Farmers Branch manufacturing site ramping up later this year, planned to reach substantial capacity (approx. 60% of current probe cards business) by 2027.
  • Operational improvements (yields, cycle times, capacity leverage) expected to drive incremental output growth and gross margin expansion.

2 more points from FormFactor, Inc.'s call on revenue

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Profitability & Margins

See what FormFactor, Inc. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • FormFactor is prioritizing capital deployment to accelerate ramp-up of its new manufacturing site in Farmers Branch.
  • Farmers Branch site expansion is on track to begin coming online later in 2026, with ramp-up continuing through 2027.
  • Expected cash CapEx for Farmers Branch in 2026 is between $140 million and $170 million.
  • Preproduction ramp and G&A expenses related to Farmers Branch are expected to be between $20 million and $25 million in 2026.
  • Farmers Branch will provide increased capacity with structurally lower costs, enabling future revenue growth and gross margin expansion.
  • The site is expected to be accretive to gross margins upon reaching initial target capacity.

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Fundraising & Capital Structure

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Order Book & Pipeline

Order book rising
  • Strong customer demand and revenue growth indicate a healthy order flow:
  • Significant growth in HBM probe card business (>50% growth expected from H1 2025 to H1 2026).
  • Increased adoption by a second customer for at-speed HBM testing in Q2.
  • Focus on insertion 1 for co-packaged optics (CPO) with ongoing partnerships, indicating future order potential.
  • Strong demand in foundry and logic probe cards, especially from data center CPU and networking applications.
  • Ongoing production ramp at Farmers Branch site will expand capacity to meet demand.

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Continue your research

Others in Semiconductors and Semiconductor Equipment this season

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  • Nova Ltd. (Q2 FY26)

    Nova Ltd. Q2 FY26 quarterly results analysis. Nova expects robust growth driven by advanced DRAM, Logic (including gate-all-around), and advanced packaging mark

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Frequently Asked Questions

What were FormFactor, Inc. Q2 FY26 results?

- FormFactor expects continued strong revenue growth, with Q2 2026 guidance at $240 million ± $5 million, up from $226.1 million in Q1. - Growth driven by increased demand in advanced DRAM probe cards, especially HBM (over 50% growth from H1 2025 to H1 2026). - Expansion in foundry and logic probe cards fueled by networking and data center CPU applications linked to AI compute intensification. - Farmers Branch manufacturing site ramping up later this year, planned to reach substantial capacity (approx. - Q2 2026 revenues are expected at $240 million ± $5 million, indicating continued growth.

What is FormFactor, Inc. share price analysis?

FormFactor, Inc. currently shows a below-average growth signal. The stock trades at a P/E of 156.9 with a market cap of $10,151. Investors should review the full earnings analysis for detailed insights.

Is FormFactor, Inc. planning capital expenditure?

- FormFactor is prioritizing capital deployment to accelerate ramp-up of its new manufacturing site in Farmers Branch.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.