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FormFactor Crosses The $1 Billion Run Rate: Is HBM4 Fueling The Next Growth Leg?

FormFactor reported strong financial performance in the second quarter of 2026, achieving record revenue, gross profit, and earnings per share. The company surpassed a $1 billion annual revenue run rate and exceeded 50% gross margin, marking key milestones in its recently introduced target model that aims to double revenue and more than double profitability by 2030. Revenue for the quarter was $258.2 million, exceeding expectations by about $18 million and representing a 14% increase over the prior quarter, with non-GAAP gross margin expanding to 53.3%. Non-GAAP earnings per share rose to $0.82, nearly tripling from the same quarter last year. The growth stemmed from a balanced increase across segments and geographies. Notably, Taiwan’s revenue grew sequentially by more than 30%, reflecting strength in key customers including a top foundry accounting for approximately 10% of revenue.