Filing Flows › Formfactor (FORM) › Q2 2025
Formfactor (FORM) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Formfactor (FORM) reported revenue of $196M for the second quarter 2025 (Q2 2025), -0.8% from a year earlier and +14% from the quarter before. Operating margin was 6.3%, net earnings $9.1M (4.6% of revenue).
Formfactor, Q2 2025: revenue $196M (-0.8% year over year), operating margin 6.3%, net earnings $9.1M, operating cash flow $18.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $196M | +14% | -0.8% |
| Gross profit | $72.9M | +13% | -16% |
| Operating profit | $12.3M | +276% | -31% |
| Net earnings | $9.1M | +42% | -53% |
| Operating cash flow | $18.9M | -20% | -14% |
What changed
Revenue was $195.8M in Q2 2025, down 1% year over year and up 14% from the previous quarter. Foundry & Logic was the largest line at 51% of revenue. Foundry & Logic lost $4.1M year over year (down 4%), 247% of the total change.
Gross margin was 37.3%, down 6.8 points from a year earlier. Operating profit was $12.3M, a 6.3% margin (down 2.7 points year over year). Operating expenses fell 12% while revenue fell 1%. Net earnings were $9.1M, down 53% year over year. The effective tax rate was 20.7%.
Operating cash flow was $18.9M (down 14% year over year), 208% of net earnings. Non-cash charges added back $9.6M of depreciation and amortization and $9.4M of share-based compensation. Working capital and other items used $9.1M. Capital expenditures of $66.3M exceeded it, leaving free cash flow of −$47.4M.
Questions
What was Formfactor's revenue in the second quarter 2025?
Formfactor (FORM) reported revenue of $196M for the second quarter 2025 (Q2 2025), -0.8% from a year earlier and +14% from the quarter before.
Was Formfactor profitable in the second quarter 2025?
Operating profit was $12.3M (6.3% of revenue) and net earnings $9.1M.
Source: Formfactor 10-Q on SEC EDGAR.