FormFactor Q2 Revenue Surges 32% to $258M, Net Income Jumps Over 500%
FORM has more than doubled off its 52-week low of $27.
Summary
FormFactor reported record Q2 2026 revenue of $258.2M and net income of $56.2M, with gross margins surging to 50.7%. Restructuring charges and factory start-up costs weighed on results, but the underlying business is firing on all cylinders.
Key Events · Earnings and Guidance · FORM
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Record Q2 Revenue and Earnings
Revenue of $258.2M, up 31.9% YoY, and net income of $56.2M, up 518% YoY, driven by strong demand for AI-related probe cards and systems.
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Gross Margin Expansion
Gross margin improved to 50.7% from 37.3% a year ago, reflecting favorable product mix and higher factory utilization.
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Restructuring Charges
Incurred $27.8M in restructuring charges for the six months, part of a $32–40M plan to consolidate manufacturing facilities and improve cost structure.
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Strong Balance Sheet
Cash and investments rose to $345.6M; no share repurchases in H1 2026 as the company prioritizes capital for its Texas factory expansion.
Analysis · FORM · Manufacturing
A standout quarter for FormFactor saw revenue climb 32% year-over-year to $258.2 million, while net income soared to $56.2 million from $9.1 million a year ago. Gross margin expanded dramatically to 50.7%, driven by favorable product mix and higher factory utilization. The company is in the midst of a restructuring that will cost $32–40 million but is expected to further improve margins. With $345.6 million in cash and investments and no share buybacks in the first half, FormFactor is prioritizing capital for its Texas factory expansion. The results reinforce the AI-driven demand story, particularly in high-bandwidth memory probe cards.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 36.1% of the 1052 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, FORM was trading at $118.00 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $9.4B. The 52-week trading range was $27.00 to $160.27. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.