FormFactor Inc. Files Q3 2024 10-Q Report

TL;DR

**FORMFACTOR Q3 10-Q FILED: Check financials for semiconductor player.**

AI Summary

FormFactor Inc. filed its 10-Q for the period ending September 28, 2024. The company, headquartered in Livermore, CA, operates in the Semiconductors & Related Devices sector. Key financial data and operational details for the third quarter of fiscal year 2024 are presented in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of FormFactor Inc., crucial for understanding the company's trajectory in the semiconductor industry.

Risk Assessment

Risk Level: medium — As a semiconductor company, FormFactor is subject to industry cyclicality, technological shifts, and global supply chain dynamics.

Key Numbers

• 2024-09-28 — Report Period End Date (This is the end date for the financial information presented in the 10-Q.)
• 20241105 — Filing Date (This is the date the 10-Q was officially filed with the SEC.)
• 1228 — Fiscal Year End (Indicates the end of FormFactor's fiscal year.)

Key Players & Entities

• FORMFACTOR INC (company) — Filer
• 7005 SOUTHFRONT ROAD (address) — Business and Mail Address
• LIVERMORE (city) — Business and Mail City
• CA (state) — Business and Mail State
• 94551 (zip_code) — Business and Mail Zip Code
• 9252904000 (phone_number) — Business Phone
• 2024-09-28 (date) — Conformed Period of Report
• 20241105 (date) — Filed as of Date

FAQ

Key Financial Figures

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

Filing Documents

• form-20240928.htm (10-Q) — 1612KB
• ex3101-q324.htm (EX-31.01) — 9KB
• ex3102-q324.htm (EX-31.02) — 9KB
• ex3201-q324.htm (EX-32.01) — 6KB
• 0001039399-24-000035.txt ( ) — 8398KB
• form-20240928.xsd (EX-101.SCH) — 41KB
• form-20240928_cal.xml (EX-101.CAL) — 92KB
• form-20240928_def.xml (EX-101.DEF) — 257KB
• form-20240928_lab.xml (EX-101.LAB) — 635KB
• form-20240928_pre.xml (EX-101.PRE) — 467KB
• form-20240928_htm.xml (XML) — 1468KB

Financial Statements (Unaudited)

Financial Statements (Unaudited): Condensed Consolidated Balance Sheets as of September 2 8 , 2024 and December 30, 2023 3 Condensed Consolidated Statements of Income for the three and nine months ended September 2 8 , 2024 and September 30 , 2023 4 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 2 8 , 2024 and September 30 , 2023 5 Condensed Consolidated Statement of Stockholders' Equity for the three and nine months ended September 2 8 , 2024 and September 30 , 2023 6 Condensed Consolidated Statements of Cash Flows for the nine months ended September 2 8 , 2024 and September 30 , 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 32 Item 4.

Controls and Procedures

Controls and Procedures 32 Part II. Other Information 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and use of proceeds 33 Item 5. Other Information 34 Item 6. Exhibits 34

- 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) September 28, 2024 December 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 184,506 $ 177,812 Marketable securities 169,961 150,507 Accounts receivable, net of allowance for credit losses of $ 4 and $ 501 116,866 102,957 Inventories, net 105,374 111,685 Restricted cash 3,773 1,152 Prepaid expenses and other current assets 34,302 29,667 Total current assets 614,782 573,780 Restricted cash 2,210 2,309 Operating lease, right-of-use-assets 25,034 30,519 Property, plant and equipment, net of accumulated depreciation 204,108 204,399 Goodwill 200,137 201,090 Intangibles, net 11,017 12,938 Deferred tax assets 92,826 78,964 Other assets 3,669 2,795 Total assets $ 1,153,783 $ 1,106,794 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 52,086 $ 63,857 Accrued liabilities 46,508 41,037 Current portion of term loan, net of unamortized issuance costs 1,098 1,075 Deferred revenue 20,972 16,704 Operating lease liabilities 8,512 8,422 Total current liabilities 129,176 131,095 Term loan, less current portion, net of unamortized issuance costs 12,488 13,314 Long-term operating lease liabilities 19,731 25,334 Deferred grant 18,000 18,000 Other liabilities 19,378 10,247 Total liabilities 198,773 197,990 Stockholders' equity: Common stock, $ 0.001 par value: 250,000,000 shares authorized; 77,447,989 and 77,376,903 shares issued and outstanding 77 77 Additional paid-in capital 845,466 861,448 Accumulated other comprehensive loss ( 1,773 ) ( 4,052 ) Accumulated income 111,240 51,331 Total stockholders' equity 955,010 908,804 Total liabilities and stockholders' equity $ 1,153,783 $ 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

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