FormFactor Inc. Files Q2 2024 10-Q Report

TL;DR

**FORMFACTOR Q2 10-Q FILED** - Check financials for semiconductor equipment maker.

AI Summary

FormFactor Inc. filed its 10-Q for the period ending June 29, 2024, reporting on its financial performance. The filing covers the second quarter of fiscal year 2024, with the company's fiscal year ending on December 28. Key financial data and operational details for this period are detailed within the report.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for FormFactor Inc., crucial for understanding the company's current health and future prospects in the semiconductor industry.

Risk Assessment

Risk Level: medium — As a semiconductor company, FormFactor is subject to the cyclical nature of the industry and global economic conditions.

Key Numbers

• 2024-06-29 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-08-07 — Filing Date (The date FormFactor Inc. submitted this 10-Q to the SEC.)
• December 28 — Fiscal Year End (Specifies the end date of FormFactor Inc.'s fiscal year.)

Key Players & Entities

• FormFactor Inc. (company) — Filer of the 10-Q report
• 2024-06-29 (date) — End of the reporting period for the 10-Q
• 2024-08-07 (date) — Date the 10-Q was filed
• 7005 SOUTHFRONT ROAD (address) — Business and mailing address of FormFactor Inc.
• LIVERMORE, CA 94551 (address) — City, State, and Zip code of FormFactor Inc.

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value FORM Nasdaq Global Market _

Filing Documents

• form-20240629.htm (10-Q) — 1558KB
• ex10ormfactorxseverancep.htm (EX-10.01) — 44KB
• ex3101-q224.htm (EX-31.01) — 9KB
• ex3102-q224.htm (EX-31.02) — 9KB
• ex3201-q224.htm (EX-32.01) — 6KB
• ex10ormfactorxseverancep001.jpg (GRAPHIC) — 234KB
• ex10ormfactorxseverancep002.jpg (GRAPHIC) — 232KB
• ex10ormfactorxseverancep003.jpg (GRAPHIC) — 247KB
• ex10ormfactorxseverancep004.jpg (GRAPHIC) — 248KB
• ex10ormfactorxseverancep005.jpg (GRAPHIC) — 247KB
• ex10ormfactorxseverancep006.jpg (GRAPHIC) — 287KB
• ex10ormfactorxseverancep007.jpg (GRAPHIC) — 215KB
• ex10ormfactorxseverancep008.jpg (GRAPHIC) — 243KB
• ex10ormfactorxseverancep009.jpg (GRAPHIC) — 255KB
• ex10ormfactorxseverancep010.jpg (GRAPHIC) — 269KB
• ex10ormfactorxseverancep011.jpg (GRAPHIC) — 218KB
• ex10ormfactorxseverancep012.jpg (GRAPHIC) — 300KB
• ex10ormfactorxseverancep013.jpg (GRAPHIC) — 87KB
• 0001039399-24-000028.txt ( ) — 12487KB
• form-20240629.xsd (EX-101.SCH) — 40KB
• form-20240629_cal.xml (EX-101.CAL) — 93KB
• form-20240629_def.xml (EX-101.DEF) — 247KB
• form-20240629_lab.xml (EX-101.LAB) — 622KB
• form-20240629_pre.xml (EX-101.PRE) — 455KB
• form-20240629_htm.xml (XML) — 1423KB

Financial Statements (Unaudited)

Financial Statements (Unaudited): Condensed Consolidated Balance Sheets as of June 29 , 2024 and December 30, 2023 3 Condensed Consolidated Statements of Income for the three and six months ended June 29 , 2024 and July 1, 2023 4 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 29 , 2024 and July 1, 2023 5 Condensed Consolidated Statement of Stockholders' Equity for the three and six months ended June 29 , 2024 and July 1, 2023 6 Condensed Consolidated Statements of Cash Flows for the six months ended June 29 , 2024 and July 1, 2023 7 Notes to Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33 Part II. Other Information 33 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and use of proceeds 34 Item 5. Other Information 34 Item 6. Exhibits 35

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements FORMFACTOR, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts) (Unaudited) June 29, 2024 December 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 195,914 $ 177,812 Marketable securities 161,710 150,507 Accounts receivable, net of allowance for credit losses of $ 501 and $ 501 113,277 102,957 Inventories, net 114,814 111,685 Restricted cash 5,939 1,152 Prepaid expenses and other current assets 28,964 29,667 Total current assets 620,618 573,780 Restricted cash 2,098 2,309 Operating lease, right-of-use-assets 26,650 30,519 Property, plant and equipment, net of accumulated depreciation 204,102 204,399 Goodwill 199,548 201,090 Intangibles, net 11,657 12,938 Deferred tax assets 88,841 78,964 Other assets 2,751 2,795 Total assets $ 1,156,265 $ 1,106,794 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 62,235 $ 63,857 Accrued liabilities 49,523 41,037 Current portion of term loan, net of unamortized issuance costs 1,090 1,075 Deferred revenue 17,953 16,704 Operating lease liabilities 8,240 8,422 Total current liabilities 139,041 131,095 Term loan, less current portion, net of unamortized issuance costs 12,765 13,314 Long-term operating lease liabilities 21,441 25,334 Deferred grant 18,000 18,000 Other liabilities 17,102 10,247 Total liabilities 208,349 197,990 Stockholders' equity: Common stock, $ 0.001 par value: 250,000,000 shares authorized; 77,281,052 and 77,376,903 shares issued and outstanding 77 77 Additional paid-in capital 863,283 861,448 Accumulated other comprehensive loss ( 7,948 ) ( 4,052 ) Accumulated income 92,504 51,331 Total stockholders' equity 947,916 908,804 Total liabilities and stockholders' equity $ 1,156,265 $ 1,106,794 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 FORMFACTOR, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In tho

View Full Filing

View this 10-Q filing on SEC EDGAR