secwatch.observer — SEC 8-K summary
======================================

Issuer:     FORMFACTOR INC (FORM)
CIK:        0001039399
Form:       8-K
Filed at:   2022-10-26T23:59:59+00:00
Accession:  0001039399-22-000096
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FormFactor Q3 revenue $180.9M, down 11.3% QoQ; restructuring cuts 13% of workforce
--------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1039399/000103939922000096/0001039399-22-000096-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1039399/000103939922000096/form-20221025.htm
  HTML page:      https://secwatch.observer/filing/0001039399-22-000096

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer