What is FormFactor's probe cards — R&D?

FormFactor (FORM) reported probe cards — R&D of $21.77M in Q1 2026.

How has FormFactor's probe cards — R&D changed year-over-year?

FormFactor's probe cards — R&D increased by 3.4% year-over-year, from $21.06M to $21.77M.

What is the long-term trend for FormFactor's probe cards — R&D?

Over 3 years (2022 to 2025), FormFactor's probe cards — R&D has grown at a 1.5% compound annual growth rate (CAGR), from $82.43M to $86.3M.

What does probe cards — R&D mean?

Expenditures dedicated to the innovation, design, and improvement of probe card technologies and testing architectures. This investment is crucial for maintaining technological leadership in the semiconductor testing market. It includes costs for engineering personnel, prototyping, and testing new product iterations.

FormFactor (FORM) Probe Cards — R&D

Screener

Other segment segments

Systems

$5.23M+31.8%

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MUAEBU — R&D

$109M+0.9%

MUCDBU — R&D

$358M+76.4%

Other financials

Income statement

See full

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

See full

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

See full

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

See full

Gross margin39.4%-1.0pp

Operating margin8.4%+2.3pp

Net margin8.1%+1.1pp

FCF margin4.4%-4.1pp

Returns & leverage

See full

Return on equity6.8%+1.0pp

Debt / equity0×0.0×

Current ratio4.5×+0.1×

Where this comes from

Reported directly by FormFactor in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

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 item	Three Months Ended / March 28, 2026 / Probe Cards	Three Months Ended / March 28, 2026 / Systems	Three Months Ended / March 28, 2026 / Corporate and Other	Three Months Ended / March 28, 2026 / Total	Three Months Ended / March 29, 2025 / Probe Cards	Three Months Ended / March 29, 2025 / Systems	Three Months Ended / March 29, 2025 / Corporate and Other	Three Months Ended / March 29, 2025 / Total
Cost of revenues	98,126	17,285	23,939	139,350	84,905	19,321	2,607	106,833
Gross profit	100,131	10,602	(23,939)	86,794	51,615	15,515	(2,607)	64,523
Gross margin	50.5%	38.0%		38.4%	37.8%	44.5%		37.7%
Research and development	21,772	5,231	3,777	30,780	21,056	3,968	2,776	27,800
Selling	7,723	3,838	1,315	12,876	6,566	3,660	2,801	13,027
Marketing	1,622	1,820	1,635	5,077	1,580	1,741	1,126	4,447
Net contribution	$69,014	$(287)	$(30,666)	38,061	$22,413	$6,146	$(9,310)	19,249
General and administrative				14,339				15,980

Item 1. Financial Statements (Unaudited):

FAQ

What is FormFactor's probe cards — R&D?: FormFactor (FORM) reported probe cards — R&D of $21.77M in Q1 2026.
How has FormFactor's probe cards — R&D changed year-over-year?: FormFactor's probe cards — R&D increased by 3.4% year-over-year, from $21.06M to $21.77M.
What is the long-term trend for FormFactor's probe cards — R&D?: Over 3 years (2022 to 2025), FormFactor's probe cards — R&D has grown at a 1.5% compound annual growth rate (CAGR), from $82.43M to $86.3M.
What does probe cards — R&D mean?: Expenditures dedicated to the innovation, design, and improvement of probe card technologies and testing architectures. This investment is crucial for maintaining technological leadership in the semiconductor testing market. It includes costs for engineering personnel, prototyping, and testing new product iterations.