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FormFactor FORM Systems — Net Contribution

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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:NetContribution.

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
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
General and administrative14,33915,980
Factory start-up costs7,074
Operating income16,6483,269
Interest income, net2,1743,317

Item 1. Financial Statements (Unaudited):

FAQ

What is FormFactor's systems — net contribution?
FormFactor (FORM) reported systems — net contribution of -$287K in Q1 2026.
How has FormFactor's systems — net contribution changed year-over-year?
FormFactor's systems — net contribution decreased by 104.7% year-over-year, from $6.15M to -$287K.
What is the long-term trend for FormFactor's systems — net contribution?
Over 3 years (2022 to 2025), FormFactor's systems — net contribution has grown at a -21.3% compound annual growth rate (CAGR), from $41.76M to $20.33M.
What does systems — net contribution mean?
This metric represents the net financial contribution of the Systems segment to the company's overall profitability after accounting for direct costs and allocated operating expenses. It serves as a key indicator of the segment's ability to generate sustainable value independent of the core probe card business. Investors use this to assess the operational efficiency and strategic viability of the Systems product line.

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