Filing Flows › Formfactor (FORM) › Q3 2025
Formfactor (FORM) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Formfactor (FORM) reported revenue of $203M for the third quarter 2025 (Q3 2025), -3% from a year earlier and +4% from the quarter before. Operating margin was 8.9%, net earnings $15.7M (7.7% of revenue).
Formfactor, Q3 2025: revenue $203M (-2% year over year), operating margin 8.9%, net earnings $15.7M, operating cash flow $27.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $203M | +4% | -3% |
| Gross profit | $80.6M | +11% | -5% |
| Operating profit | $18.0M | +46% | +0.8% |
| Net earnings | $15.7M | +72% | -16% |
| Operating cash flow | $27.0M | +43% | +1% |
| Free cash flow | $19.5M | — | +10% |
What changed
Revenue was $202.7M in Q3 2025, down 3% year over year and up 4% from the previous quarter. Foundry & Logic was the largest line at 46% of revenue. Foundry & Logic lost $14.5M year over year (down 14%), 277% of the total change.
Gross margin was 39.8%, down 1.0 points from a year earlier. Operating profit was $18.0M, a 8.9% margin (up 0.3 points year over year). Operating expenses fell 6% while revenue fell 3%. Net earnings were $15.7M, down 16% year over year. The effective tax rate was 27.5%.
Operating cash flow was $27.0M (up 1% year over year), 172% of net earnings. Non-cash charges added back $11.7M of depreciation and amortization and $9.5M of share-based compensation. Working capital and other items used $9.9M. Capital expenditures of $7.5M left free cash flow of $19.5M.
Questions
What was Formfactor's revenue in the third quarter 2025?
Formfactor (FORM) reported revenue of $203M for the third quarter 2025 (Q3 2025), -3% from a year earlier and +4% from the quarter before.
Was Formfactor profitable in the third quarter 2025?
Operating profit was $18.0M (8.9% of revenue) and net earnings $15.7M.
Source: Formfactor 10-Q on SEC EDGAR.