Filing Flows › Technology › Formfactor (FORM)
Formfactor (FORM) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Formfactor (FORM) Q3 2026 earnings results →
Q3 2026 Revenue up 38% year over year to $281M · 26¢ of every $1 of revenue kept as net profit · operating margin 29.1%
Formfactor made $281M in Q3 2026 (+38% Y/Y): Foundry & Logic $134M, DRAM $84.9M, Systems $59.5M. Operating margin 29.1%, net earnings $73.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $280.5M in Q3 2026, up 38% year over year and up 9% from the previous quarter. Foundry & Logic was the largest line at 48% of revenue. Foundry & Logic added $41.1M year over year (up 44%), 53% of the total change. Flash declined 58%.
Gross margin was 54.7%, up 14.9 points from Q3 2025. Operating profit was $81.6M, a 29.1% margin (up 20.2 points year over year). Of the extra revenue versus Q3 2025, 82% reached operating profit, above the 9% margin then. Operating expenses grew 15% against revenue growth of 38%. The fastest-growing cost line was Other operating costs (+561%). Net earnings were $73.8M, up 372% year over year. The effective tax rate was 15.1%.
Operating cash flow was $104.3M (up 286% year over year), 141% of net earnings. Non-cash charges added back $9.3M of depreciation and amortization and $8.8M of share-based compensation. Working capital and other items added $12.3M. Capital expenditures of $39.6M left free cash flow of $64.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $281M | +38% | 29.1% | $73.8M | $104M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $258M | +32% | 22.4% | $56.2M | $61.8M |
| Q1 2026 | 10-Q | May 5, 2026 | $226M | +32% | 7.4% | $20.4M | $45.0M |
| Q4 2025 | 10-K | Feb 20, 2026 | $215M | +14% | 10.9% | $23.2M | $46.0M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $203M | -2% | 8.9% | $15.7M | $27.0M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $196M | -0.8% | 6.3% | $9.1M | $18.9M |
| Q1 2025 | 10-Q | May 6, 2025 | $171M | +2% | 1.9% | $6.4M | $23.5M |
Charts
In supply chains and themes
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
Customers and suppliers named in filings
Sells to
- SKHY — 19% of its revenue · Stated in 10-K (customer table) · source
- INTC — 12% of its revenue · Stated in 10-K (customer table) · source
- TSM — 10% of its revenue · Stated in 10-K (customer table) · source
About Formfactor
FormFactor, Inc. is a leading provider of electrical and optical test and measurement technologies along the full semiconductor product lifecycle - from characterization, modeling, reliability, and design de-bug, to qualification and production test. We provide a broad range of high-performance probe cards, analytical probes, probe stations, thermal systems, and cryogenic systems to both semiconductor companies and scientific institutions. Our products provide electrical and optical information from a variety of semiconductor and electro-optical devices and integrated circuits from early research, through development, to high-volume production. Customers use our products and services to accelerate profitability by optimizing device performance, reducing scrap, and improving yields.
In its own words, from its 10-K, filed Feb 20, 2026.
Formfactor against its Semiconductors & Related Devices peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +38% against the peers' median +40%. Operating margin: 29.1% against the peers' median 40.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FORM Formfactor | Q3 2026 | $281M | +38% | 29.1% |
| NVDA NVIDIA | Q2 FY27 | $96.2B | +106% | 66.2% |
| MU Micron Technology | Q4 FY26 | $54.2B | +379% | 80.7% |
| AVGO Broadcom | Q3 FY26 | $29.6B | +86% | 53.9% |
| INTC Intel | Q3 2026 | $16.5B | +21% | 15.3% |
| AMD Advanced Micro Devices | Q3 2026 | $13.4B | +45% | 21.2% |
| AMAT Applied Materials | Q3 FY26 | $9.1B | +25% | 33.7% |
| TXN Texas Instruments | Q3 2026 | $6.1B | +28% | 47.5% |
| ADI Analog Devices | Q3 FY26 | $4.0B | +40% | 40.1% |
Source: Formfactor 10-Q on SEC EDGAR · CIK 1039399 · Semiconductors & Related Devices
Guidance and outlook
13F: who owns FORM and who is buying
More on FORM
- How Formfactor makes money: revenue by segment
- Formfactor next earnings date and what analysts expect
- Formfactor stock forecast, price target and fair value
- Who owns Formfactor stock: holders, funds and Congress trades
- Formfactor guidance and outlook
- Is Formfactor a takeover target? LBO and rumors
- Formfactor recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Formfactor guidance history: guided vs reported
- Formfactor gross margin by quarter
- Formfactor operating margin by quarter
- Formfactor net income by quarter
- Formfactor free cash flow by quarter
- Formfactor R&D spending by quarter
- Formfactor capital expenditures by quarter
- Formfactor Foundry & Logic revenue by quarter
- Formfactor DRAM revenue by quarter
- Formfactor Systems revenue by quarter