FormFactor reports record Q3 revenue of $207.9M; non-GAAP EPS $0.35 at top end of outlook

FORMFACTOR INC

2024-Q3 EPS reported $0.76 revenue$574,116,000

Record revenue $207.9M, up 5.3% sequential and 21.2% YoY; GAAP EPS $0.24, non-GAAP EPS $0.35.
DRAM probe-card revenue set third consecutive quarterly record; driven by DDR5 and HBM demand.
GAAP gross margin 40.7% declined from 44.0% in Q2; non-GAAP gross margin 42.2%.
Q4 outlook: revenue $190M +/- $5M, non-GAAP EPS $0.29 +/- $0.04; expects lower Foundry & Logic demand.
Free cash flow $20.0M in Q3, up from $14.2M in Q2 and $16.9M in Q3 last year.

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