Filing Flows › Formfactor (FORM) › Q4 2025
Formfactor (FORM) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 20, 2026
Formfactor (FORM) reported revenue of $215M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +6% from the quarter before. Operating margin was 10.9%, net earnings $23.2M (10.8% of revenue).
Formfactor, Q4 2025: revenue $215M (+14% year over year), operating margin 10.9%, net earnings $23.2M, operating cash flow $46.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $215M | +6% | +14% |
| Gross profit | $90.8M | +13% | +23% |
| Operating profit | $23.5M | +30% | +199% |
| Net earnings | $23.2M | +48% | +139% |
| Operating cash flow | $46.0M | +70% | +28% |
| Free cash flow | $34.7M | +78% | +23% |
What changed
Revenue was $215.2M in Q4 2025, up 14% year over year and up 6% from the previous quarter. Foundry & Logic was the largest line at 43% of revenue.
Gross margin was 42.2%, up 3.4 points from a year earlier. Operating profit was $23.5M, a 10.9% margin (up 6.8 points year over year). Of the extra revenue versus a year earlier, 61% reached operating profit, above the 4% margin then. Operating expenses grew 2% against revenue growth of 14%. Net earnings were $23.2M, up 139% year over year. The effective tax rate was 13.5%.
Operating cash flow was $46.0M (up 28% year over year), 198% of net earnings. Non-cash charges added back $9.9M of depreciation and amortization and $9.9M of share-based compensation. Working capital and other items added $3.0M. Capital expenditures of $11.3M left free cash flow of $34.7M.
Questions
What was Formfactor's revenue in the fourth quarter 2025?
Formfactor (FORM) reported revenue of $215M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +6% from the quarter before.
Was Formfactor profitable in the fourth quarter 2025?
Operating profit was $23.5M (10.9% of revenue) and net earnings $23.2M.
Source: Formfactor 10-K on SEC EDGAR.