FormFactor, Inc. reported significant financial growth in its latest quarterly filing, with revenues reaching $258.2 million for the three months ended June 27, 2026, a 31.9% increase from $195.8 million in the same period last year. For the first half of fiscal 2026, the company generated $484.4 million in revenue, up from $367.2 million in the prior year. The net income for the second quarter was $56.2 million, compared to $9.1 million in the same quarter of 2025, reflecting a substantial increase in profitability driven by higher sales and improved gross margins.
The company’s gross profit for the second quarter was $130.9 million, yielding a gross margin of 50.7%, up from 37.3% a year earlier. This improvement is attributed to a favorable product mix and higher factory utilization, despite incurring $4.3 million in restructuring costs related to its 2026 Restructuring Plans. Operating income also saw a significant rise, reaching $57.8 million for the quarter, compared to $12.3 million in the previous year.
FormFactor has made strategic moves to enhance its operational capabilities, including the acquisition of Keystone Photonics in December 2025 for $20.6 million, which bolstered its testing capabilities in silicon photonics and co-packaged optics. The company is also expanding its manufacturing footprint with a new facility in Farmers Branch, Texas, expected to begin production in late fiscal 2026. This expansion is anticipated to support increased production capacity and improve cost structures.
Operationally, FormFactor reported a notable increase in customer demand, particularly in the Foundry & Logic and DRAM markets, which contributed to the revenue growth. The company’s customer base remains concentrated, with three customers accounting for a significant portion of revenues. The geographic distribution of sales showed strong performance in Taiwan and South Korea, while the U.S. market experienced a decline in demand for certain products.
Looking ahead, FormFactor anticipates continued revenue growth driven by strong demand in its core markets and the successful ramp-up of its new manufacturing facility. The company expects to recognize approximately $7.0 million to $9.0 million in tariff refunds related to previous tariffs imposed under the International Emergency Economic Powers Act, further bolstering its financial position. Overall, FormFactor is well-positioned to capitalize on market opportunities while managing its restructuring efforts to enhance operational efficiency.
About FORMFACTOR INC
FormFactor, Inc. provides electrical and optical test and measurement solutions for the semiconductor industry, including probe cards, probe stations, thermal, and cryogenic systems. Serving semiconductor manufacturers, research institutions, and fabless companies, it enables device characterization, reliability testing, and high-volume production. The company's core value lies in innovative, customized testing products that improve device performance, yields, and time-to-market across the full semiconductor lifecycle.
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