FORM on Nasdaq

FORMFACTOR INC

American semiconductors and related devices company based in Livermore.

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Last updated Oct 18, 2026.

Overview

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  • TickerFORM on Nasdaq
  • IndustrySemiconductors & Related Devices
  • HeadquartersDE
  • Incorporated inDE2
  • Business address7005 Southfront Road, Livermore, Ca 945512
  • Filer categoryLarge accelerated filer2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

39.3%Gross margin3
7.3%Operating margin3
6.9%Net margin3
2.8%Revenue growth, 20253
5.3%Return on equity3
0.01×Debt to equity3
$11.7MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Foundry & Logic Product Group brought in 47% of the revenue FORMFACTOR INC broke down this way in fiscal 2025.

  1. Foundry & Logic Product Group$369.9M347%down 3% from 2024
  2. DRAM Product Group$247.4M332%up 9% from 2024
  3. Systems Product Group$147.1M319%
  4. Flash Product Group$20.6M33%up 19% from 2024
Products and services by year
Products and services202320242025
Foundry & Logic Product Group$363.5M$381.2M$369.9M
DRAM Product Group$113.8M$227.4M$247.4M
Systems Product Group$165.2M$147.1M
Flash Product Group$20.6M$17.4M$20.6M

Business segments

Probe Cards brought in 81% of the revenue FORMFACTOR INC broke down this way in fiscal 2025.

  1. Probe Cards$637.9M381%up 2% from 2024
  2. Systems$147.1M319%up 7% from 2024
Business segments by year
Business segments202320242025
Probe Cards$497.9M$626.0M$637.9M
Systems$165.2M$137.6M$147.1M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue60¢$476.1M
  • Research and development15¢$115.7M
  • Selling, general and admin17¢$133.1M
  • Interest0¢$521.0K
  • Income tax2¢$13.0M
  • Profit7¢$54.4M

Out of $785.0M in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending80¢$103.7M
  • Share buybacks20¢$26.2M

Out of $115.4M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue45673$785.0M in 2025+33% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $589.5M$589.5M20192020: $693.6M$693.6M2020+18%2021: $769.7M$769.7M2021+11%2022: $747.9M$747.9M2022−3%2023: $663.1M$663.1M2023−11%2024: $763.6M$763.6M2024+15%2025: $785.0M$785.0M2025+3%
Gross profit45673$308.9M in 2025+30% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $237.5M$237.5M20192020: $287.9M$287.9M2020+21%2021: $322.8M$322.8M2021+12%2022: $296.0M$296.0M2022−8%2023: $258.6M$258.6M2023−13%2024: $307.9M$307.9M2024+19%2025: $308.9M$308.9M2025+0%
Operating income45673$57.1M in 2025+15% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $49.7M$49.7M20192020: $83.8M$83.8M2020+69%2021: $98.0M$98.0M2021+17%2022: $54.9M$54.9M2022−44%2023: $82.8M$82.8M2023+51%2024: $64.8M$64.8M2024−22%2025: $57.1M$57.1M2025−12%
Net income45673$54.4M in 2025+38% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $39.3M$39.3M20192020: $78.5M$78.5M2020+100%2021: $83.9M$83.9M2021+7%2022: $50.7M$50.7M2022−40%2023: $82.4M$82.4M2023+62%2024: $69.6M$69.6M2024−16%2025: $54.4M$54.4M2025−22%

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Revenues$785.0M$763.6M$663.1M
Cost of revenues$476.1M$455.7M$404.5M
Gross profit$308.9M$307.9M$258.6M
Research and development$115.7M$121.9M$115.8M
Selling, general and administrative$133.1M$141.8M$133.0M
Factory start-up costs$3.0M$0$0
Total operating expenses$251.8M$263.7M$248.8M
Gain on sale of business$0$20.6M$73.0M
Operating income$57.1M$64.8M$82.8M
Interest income$10.6M$14.1M$7.2M
Interest expense-$521.0K-$418.0K-$421.0K
Other income (expense), net$2.2M$939.0K-$285.0K
Income before income taxes and equity investment$69.4M$79.4M$89.3M
Provision for income taxes$13.0M$9.8M$6.9M
Loss from equity investment$2.0M$0$0
Net income$54.4M$69.6M$82.4M
Basic (in USD per share)$0.70$0.90$1.06
Diluted (in USD per share)$0.69$0.89$1.05
Basic (in shares)77.3M shares77.3M shares77.4M shares
Diluted (in shares)78.3M shares78.4M shares78.2M shares

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Leadership

Who has led FORMFACTOR INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Igor Y. Khandros2006–2008
  2. Mario Ruscev2008–2010
  3. G. Carl Everett Jr.2010
  4. Dennis Thomas St2010–2015
  5. Mike Slessor2015–now

Chair

  1. G. Carl Everett Jr.2010
  2. Dennis Thomas St2015

President

  1. Joseph R. Bronson2006–2007
  2. Mario Ruscev2008
  3. Mike Slessor2013–2014

Chief financial officer

  1. Ronald C. Foster2006–2007
  2. Jean B. Vernet2008–2010
  3. Richard Delateur2010
  4. Michael M. Ludwig2011–2018
  5. Shai Shahar2018–2025
  6. Aric Brendan McKinnis2025–now
2010201520202025
Board members and other officers (28)

Timeline

  1. Feb 11, 2015New chief executive Mike Slessor becomes CEO11
  2. Sep 14, 2010New chief executive Dennis Thomas St becomes CEO13
  3. May 21, 2010New chief executive G. Carl Everett Jr. becomes CEO12
  4. Aug 7, 2008New chief executive Mario Ruscev becomes CEO14
  5. Jan 18, 2006New chief executive Igor Y. Khandros becomes CEO15

Filings

363 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 35 major events, 191 insider forms, 19 large holders, 1 private raises, 97 other. The latest 20:

  1. Oct 14, 2026144 EDGAR
  2. Oct 14, 20264 EDGAR
  3. Oct 13, 20268-K EDGAR
  4. Sep 17, 20264 EDGAR
  5. Sep 16, 2026144 EDGAR
  6. Sep 4, 20264 EDGAR
  7. Sep 3, 2026144 EDGAR
  8. Aug 17, 20264 EDGAR
  9. Aug 14, 2026144 EDGAR
  10. Aug 14, 2026SCHEDULE 13G/A EDGAR
  11. Aug 10, 20264 EDGAR
  12. Aug 10, 20264 EDGAR
  13. Aug 7, 20264 EDGAR
  14. Aug 7, 20264 EDGAR
  15. Aug 4, 2026S-8 EDGAR
  16. Aug 4, 202610-Q EDGAR
  17. Jul 29, 20268-K EDGAR
  18. Jul 28, 2026SCHEDULE 13G/A EDGAR
  19. Jul 16, 20264 EDGAR
  20. Jul 15, 2026144 EDGAR

The 363 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 19 such filings since October 2021, the latest 10:

  1. Aug 14, 2026SCHEDULE 13G/A
  2. Jul 28, 2026SCHEDULE 13G/A
  3. May 15, 2026SCHEDULE 13G/A
  4. Apr 29, 2026SCHEDULE 13G
  5. Apr 29, 2026SCHEDULE 13G
  6. Mar 26, 2026SCHEDULE 13G/A
  7. Jan 31, 2025SCHEDULE 13G/A
  8. Feb 13, 2024SC 13G/A
  9. Feb 12, 2024SC 13G/A
  10. Jan 22, 2024SC 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jan 10, 2025Raised $15 million in a private offering of equity Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.10,484,409$1.7B0.0%−1,763,165
Vanguard Portfolio Management LLC5,242,203$838.4M0.0%−637,805
Earnest Partners LLC3,763,214$601.9M2.2%−1,111,951
Vanguard Capital Management LLC3,515,254$562.2M0.0%+42,763
State Street Corp2,581,477$412.9M0.0%−346,662
Polar Capital Holdings Plc2,146,098$343.2M1.0%−146,215
Geode Capital Management, LLC1,833,001$294.5M0.0%−354,864
Bank Of America Corp /de/1,783,638$285.3M0.0%−697,421
Primecap Management Co/ca/1,690,114$270.3M0.2%−98,530
Invesco Ltd.1,578,533$252.5M0.0%+340,170
Dimensional Fund Advisors LP1,418,910$226.8M0.0%+6,791
Sei Investments Co1,343,056$214.8M0.2%−339,266
Jane Street Group, LLC1,309,873$209.5M0.1%+384,256
Fuller & Thaler Asset Management, Inc.1,184,611$189.5M0.5%+47,255
Norges Bank1,024,043$163.8M0.0%New
Morgan Stanley899,947$143.9M0.0%−408,971
Alliancebernstein L.P.1,457,060$141.3M0.0%−774,473
Gf Fund Management Co. Ltd.776,000$124.1M1.5%+764,000
Charles Schwab Investment Management Inc750,027$120.0M0.0%−197,517
Tremblant Capital Group713,450$114.1M3.3%New
Millennium Management LLC670,867$107.3M0.1%+489,930
Goldman Sachs Group Inc661,399$105.8M0.0%−212,122
Pictet Asset Management Holding SA653,999$104.3M0.1%+641,696
Bank of New York Mellon Corp649,307$103.8M0.0%+15,764
Nuveen, LLC649,293$103.8M0.0%−200,424

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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