earnings
confidence high
sentiment negative
materiality 0.85
FormFactor Q3 revenue $180.9M, down 11.3% QoQ; restructuring cuts 13% of workforce
FORMFACTOR INC
2022-Q3 EPS reported
$0.82
revenue$581,950,000
- GAAP EPS $0.06 vs $0.38 QoQ; non-GAAP EPS $0.24 vs $0.46.
- Restructuring: 13% headcount reduction, $6.6M charge, targets $25-30M annual cost savings.
- Q4 outlook: revenue $155M ± $5M, non-GAAP EPS $0.03 ± $0.03, sharply lower.
- GAAP gross margin 34.4% vs 46.3% QoQ; non-GAAP gross margin 39.0% vs 47.4%.
- Free cash flow $15.5M in Q3, down from $28.3M Q2.