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How Formfactor (FORM) makes money

Formfactor (FORM) made $281M of revenue in the third quarter 2026 (Q3 2026), +38% from a year earlier. Foundry & Logic brought in $134M (48%); DRAM brought in $84.9M (30%); Systems brought in $59.5M (21%). Of every dollar of revenue, 55¢ was left as gross profit, 29¢ was left as operating profit, 26¢ was left as net earnings.

Drawing the Sankey…

Formfactor revenue by segment, Q3 2026Formfactor revenue by segment, Q3 2026Foundry & Logic$134MDRAM$84.9MSystems$59.5MFlash$2.2M
Formfactor: revenue by line, Q1 2025 to Q3 2026Formfactor: revenue by line, Q1 2025 to Q3 2026Foundry & LogicDRAMSystemsFlashFoundry & Logic: $134M latest$134MDRAM: $84.9M latest$84.9MSystems: $59.5M latest$59.5MFlash: $2.2M latestQ1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Foundry & Logic went from 50% of revenue in Q1 2025 to 48% in Q3 2026, the largest shift in the mix.
Formfactor revenue by quarterFormfactor revenue by quarter$171MQ1 2025$196MQ2 2025$203MQ3 2025$215MQ4 2025$226MQ1 2026$258MQ2 2026$281MQ3 2026
Formfactor: where each dollar of revenue goesFormfactor: where each dollar of revenue goesCost of revenue45¢Gross profit55¢Operating expenses26¢Operating profit29¢Income tax5¢Net earnings26¢Operating cash flow37¢Free cash flow23¢

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Foundry & Logic$134M47.8%+10%+44%
DRAM$84.9M30.3%-0.1%+24%
Systems$59.5M21.2%+22%+64%
Flash$2.2M0.8%-22%-58%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$281M100.0%
Cost of revenue$127M45.3%
Gross profit$153M54.7%
Operating expenses$71.8M25.6%
Operating profit$81.6M29.1%
Income tax$13.1M4.7%
Net earnings$73.8M26.3%
Operating cash flow$104M37.2%
Free cash flow$64.6M23.0%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$281M+38%
Q2 2026$258M+32%
Q1 2026$226M+32%
Q4 2025$215M+14%
Q3 2025$203M-2%
Q2 2025$196M-0.8%
Q1 2025$171M+2%

From Formfactor's 10-Q filed Nov 3, 2026 (on EDGAR).

Questions

How does Formfactor make money?

Formfactor (FORM) made $281M of revenue in the third quarter 2026 (Q3 2026), +38% from a year earlier. Foundry & Logic brought in $134M (48%); DRAM brought in $84.9M (30%); Systems brought in $59.5M (21%). Of every dollar of revenue, 55¢ was left as gross profit, 29¢ was left as operating profit, 26¢ was left as net earnings.

What is Formfactor's biggest business?

Foundry & Logic: $134M in the third quarter 2026, 48% of revenue, +44% from a year earlier.

What is Formfactor's profit margin?

Net earnings were $73.8M, 26.3% of revenue, in the third quarter 2026; the operating margin was 29.1%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.