FORM Earnings Prediction
The chart below shows how FORM performed 10 days before and after its earnings report, based on data from the past quarters. Typically, FORM sees a -0.19% change in stock price 10 days leading up to the earnings, and a -3.62% change 10 days following the report. On the earnings day itself, the stock moves by +0.39%. This data can give you a slight idea of what to expect for the next quarter's release.
FORM Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
189.48M
12.68%
-8.87%
Gross Margin
38.83%
-3.89%
-4.69%
Operating Margin
4.14%
-16.36%
-51.80%
Net Margin
5.12%
-88.65%
-43.17%
EPS
0.12
-87.50%
-50.00%
No Data Available
FORM Earnings Analysis
FormFactor Inc Corporation (FORM.O) Earnings Conference Call
Positive
DRAM Probe-Card Revenue Surge: Record DRAM probe-card revenue of $63.3 million in Q4, a 5.2% increase from the previous record, contributing to 33.4% of total quarterly revenues.
Revenue Increase Overview: Fiscal 2024 revenues reached $764 million, a 15.2% increase from $663 million in fiscal 2023, driven primarily by HBM revenue growth.
Free Cash Flow Increase: Free cash flow for Q4 increased to $28.8 million, up from $20 million in Q3, and fiscal 2024 free cash flow rose to $83 million compared to $11.4 million in fiscal 2023.
Share Repurchase Update: The company repurchased shares worth $16.1 million in Q4, with $20.5 million remaining available under the $75 million buyback program approved in Q4 2023.
Non-GAAP Net Income Growth: Non-GAAP net income for fiscal 2024 was $90.2 million, a 58% increase year-over-year from $56.8 million in fiscal 2023.
Negative
Earnings Miss Report: FormFactor, Inc. misses on earnings expectations with reported EPS of $0.27, falling short of the expected $0.29.
Fourth Quarter Revenue Decline: Fourth quarter revenues decreased by 9% from the all-time record revenues reached in the third quarter, totaling $189.5 million, which was $0.5 million below the midpoint of the outlook range.
Probe-Card Revenue Decline: Probe-card segment revenues dropped to $150.3 million in Q4, a decrease of $21.9 million or 12.7% from the previous quarter, primarily due to lower Foundry and Logic and Flash revenues.
Foundry Revenue Decline: Foundry and Logic revenues fell to $83 million in Q4, representing a 22.5% decrease from the third quarter, and accounted for only 44% of total company revenues compared to 51.7% in Q3.
Q4 Non-GAAP Operating Income Decline: Non-GAAP operating income for Q4 was $20.9 million, down $7.4 million or 26.3% from the previous quarter, driven by lower revenues and gross margins.
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FORM Earning Call Sentiment
FormFactor, Inc. (NASDAQ:FORM) Q4 2024 Earnings Call Transcript
FORM.O
0.32%Positive
The earnings call presents mixed signals. While fiscal 2024 shows revenue growth and improved free cash flow, Q4 reveals declining margins and EPS, with concerns over Foundry & Logic and non-HBM DRAM due to export controls. The Q&A highlights management's cautious outlook and ongoing challenges. Despite a stock buyback, the overall sentiment remains neutral, as positive growth areas like HBM and AI engagements are offset by current revenue and margin declines. Given the market cap of $4.6 billion, the stock is likely to remain stable in the short term.
