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FormFactor FORM Probe Cards — Gross margin

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Other financials

Income statement

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Revenue$226.1M+32.0%
Gross profit$86.8M+34.5%
Operating income$16.6M+409%
Net income$20.4M+218%
EPS (diluted)$0.26+225%

Balance sheet

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Cash & equivalents$126.4M-5.1%
Total debt$31.9M-14.9%
Total equity$1.1B+9.6%
Total assets$1.3B+8.6%

Cash flow

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Operating cash flow$45.0M+91.0%
CapEx$15.2M-18.3%
Free cash flow$29.8M+501%

Valuation

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Market cap$8.94B+320%
Enterprise value$8.85B+322%
P/E130.8×+82.3×
P/S10.7×+7.9×

Profitability

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Gross margin39.4%-1.0pp
Operating margin8.4%+2.3pp
Net margin8.1%+1.1pp
FCF margin4.4%-4.1pp

Returns & leverage

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Return on equity6.8%+1.0pp
Debt / equity0.0×
Current ratio4.5×+0.1×

Where this comes from

Reported directly by FormFactor in its filing.

Tagged under the XBRL concept form:GrossMarginPercent.

The source filing: FormFactor’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:06 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001039399-26-000023
Line itemThree Months Ended / March 28, 2026 / Probe CardsThree Months Ended / March 28, 2026 / SystemsThree Months Ended / March 28, 2026 / Corporate and OtherThree Months Ended / March 28, 2026 / TotalThree Months Ended / March 29, 2025 / Probe CardsThree Months Ended / March 29, 2025 / SystemsThree Months Ended / March 29, 2025 / Corporate and OtherThree Months Ended / March 29, 2025 / Total
Revenues$198,257$27,887$226,144$136,520$34,836$171,356
Cost of revenues98,12617,28523,939139,35084,90519,3212,607106,833
Gross profit100,13110,602(23,939)86,79451,61515,515(2,607)64,523
Gross margin50.5%38.0%38.4%37.8%44.5%37.7%
Research and development21,7725,2313,77730,78021,0563,9682,77627,800
Selling7,7233,8381,31512,8766,5663,6602,80113,027
Marketing1,6221,8201,6355,0771,5801,7411,1264,447
Net contribution$69,014$(287)$(30,666)38,061$22,413$6,146$(9,310)19,249

Item 1. Financial Statements (Unaudited):

FAQ

What is FormFactor's probe cards — gross margin?
FormFactor (FORM) reported probe cards — gross margin of 50.5% in Q1 2026.
How has FormFactor's probe cards — gross margin changed year-over-year?
FormFactor's probe cards — gross margin increased by 33.6% year-over-year, from 37.8% to 50.5%.
What does probe cards — gross margin mean?
The ratio of gross profit to total revenue for the Probe Cards segment, expressed as a percentage. It measures the efficiency with which the segment converts sales into profit after covering direct production costs. This is a critical metric for assessing the competitive advantage and cost structure of the product line.

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