FormFactor (FORM) Earnings: Q3 Fiscal 2026 Results

The quarter ended September 26, 2026 and FormFactor published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 fiscal 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. FormFactor reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• FormFactor's fiscal year ends on the last Saturday of December. Q3 fiscal 2026 is the quarter ended September 26, 2026.
• GAAP results include restructuring charges for consolidating the Carlsbad and Baldwin Park, California factories ($2.9 million in Q3, $30.7 million over nine months), which FormFactor excludes from non-GAAP figures. Factory start-up costs for the new Farmers Branch, Texas site are not excluded.

Source: FormFactor Q3 fiscal 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 26, 2026. Figures as reported; checked against the release on November 10, 2026.

How FormFactor splits revenue in its own release, under its own labels, for Q3 fiscal 2026 against Q3 fiscal 2025. Indented lines are parts of the line above them.

• FormFactor's Probe Cards revenue was $221 million in Q3 fiscal 2026, up 33% from $166 million in Q3 fiscal 2025, 79% of total revenue.
• FormFactor's Systems revenue was $59.5 million in Q3 fiscal 2026, up 64% from $36.3 million in Q3 fiscal 2025, 21% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The release gives the outlook as a table for the quarter ending December 26, 2026: revenue of $285 million plus or minus $10 million, GAAP gross margin of 52.3% plus or minus 1.5% (non-GAAP 54.0%), and diluted EPS of $0.84 plus or minus $0.09 GAAP and $0.95 plus or minus $0.09 non-GAAP, assuming consistent foreign currency rates.

In its Q3 fiscal 2026 release, FormFactor said:

“Our fourth-quarter outlook reflects continued broad-based strength in demand.”

“While the productivity gains from our existing manufacturing footprint are moderating as we approach its capacity limits, we are bringing our new Farmers Branch factory online, which will provide additional capacity to support our growth.”

Source: FormFactor Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the FORM forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenue in millions and GAAP diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for FormFactor's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 fiscal 2026 (this page), reported Oct 28, 2026

FormFactor makes probe cards, customized to each customer's wafer and chip designs for testing, and Systems products such as analytical probes, probe stations, thermal systems and cryogenic systems. In Q3 fiscal 2026 Probe Cards brought in $221.1 million of the $280.5 million total: Foundry & Logic $134.0 million, DRAM $84.9 million and Flash $2.2 million. Systems was $59.5 million, up from $36.3 million. (FormFactor Form 10-Q, Q3 fiscal 2026, Nov 3, 2026; FormFactor Q3 2026 release, Oct 28, 2026; FormFactor Form 10-K, fiscal 2025, Feb 20, 2026)

FormFactor's 10-Q attributes the Foundry & Logic increase to stronger probe-card demand for networking and server CPU designs, and the quarter's DRAM increase mainly to non-HBM designs, specifically DDR5. The release says Systems revenue grew more than twenty percent sequentially on demand for co-packaged optics. Revenue rose 38.4% from a year earlier and 8.6% from Q2. (FormFactor Form 10-Q, Q3 fiscal 2026, Nov 3, 2026; FormFactor Q3 2026 release, Oct 28, 2026)

Customers are concentrated. SK hynix accounted for 20.7% of Q3 revenue, against 24.5% a year earlier, and TSMC for 12.8%. By ship-to region, Taiwan was $115.1 million, up from $46.9 million, and South Korea $69.1 million, against $70.8 million. (FormFactor Form 10-Q, Q3 fiscal 2026, Nov 3, 2026)

FormFactor began production at its Farmers Branch, Texas site late in Q3 fiscal 2026 and expects the first customer shipment in Q4, with output ramping through fiscal 2027. It is consolidating its Carlsbad and Baldwin Park, California factories; Baldwin Park manufactured through January 2026 and Carlsbad is expected to through December 2026. (FormFactor Form 10-Q, Q3 fiscal 2026, Nov 3, 2026)

FormFactor earned $0.93 a diluted share on a GAAP basis in Q3 fiscal 2026 and $1.04 on a non-GAAP basis. The non-GAAP figure adds back $8.8 million of stock-based compensation, $2.9 million of restructuring charges and $795 thousand of acquisition-related amortization, less a $4.0 million tax effect. (FormFactor Q3 2026 release, Oct 28, 2026)

Gross margin rose to 54.7% GAAP and 56.5% non-GAAP, from 39.8% and 41.0% a year earlier. Operating expenses included $6.4 million of factory start-up costs, against $964 thousand. The effective tax rate fell to 15.5% from 29.1%, and FormFactor recorded $2.1 million of income from its equity investment. (FormFactor Q3 2026 release, Oct 28, 2026; FormFactor Form 10-Q, Q3 fiscal 2026, Nov 3, 2026)

Diluted weighted average shares were 79.4 million, against 77.7 million a year earlier. FormFactor made no buybacks in the first nine months of fiscal 2026, against $26.2 million in the same period of 2025. (FormFactor Q3 2026 release, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

FormFactor gives a one-quarter outlook in its release. For the quarter ending December 26, 2026 it guided revenue of $285 million plus or minus $10 million, non-GAAP gross margin of 54.0% plus or minus 1.5%, and non-GAAP diluted EPS of $0.95 plus or minus $0.09, or $0.84 on a GAAP basis. (FormFactor Q3 2026 release, Oct 28, 2026)

Mike Slessor, FormFactor's CEO, said productivity gains from the existing factories are moderating as they approach capacity limits, and that the Farmers Branch factory will add capacity. (FormFactor Q3 2026 release, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover FormFactor, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones FormFactor's own release and filings put weight on for Q3 fiscal 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning FORM is on is FORM a buy or a sell?, what analysts expect next is on the FORM forecast, and what the company does is on the FormFactor (FORM) stock page.

Every number on this page can be traced to a document FormFactor published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.