FormFactor, Inc.
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- FormFactor, Inc. (NASDAQ: FORM) designs, manufactures and sells essential test and measurement technologies for the semiconductor industry along the full integrated circuit life cycle, including characterization, modeling, reliability, design debug, qualification and production test; its core products comprise advanced probe cards for memory, RF, foundry and logic devices, analytical probes encompassing over 50 RF, mixed-signal and DC models for wafer, package and board-level testing, premium analytical probe stations for on-wafer device measurement, cryogenic systems and magnetometry solutions for quantum computing applications, and advanced thermal subsystems. Founded in 1993 and headquartered in Livermore, California, the company operates globally with 23 service and repair centers, 13 sales offices and 10 design centers, serving semiconductor manufacturers focused on high-performance computing, AI, mobile and automotive chips, while shipping over 115 million MEMS probes annually as the leading supplier of advanced probe cards and engineering probe systems. In recent developments, FormFactor completed the acquisition of a 20% non-controlling stake in FICT Limited for approximately $60 million in February 2025 in partnership with MBK Partners to enhance access to advanced probe card technologies and strengthen semiconductor supply chain collaboration; it expanded its Taiwan Service Center in April 2025 by doubling cleanroom capacity to support advanced packaging for AI and HPC applications; acquired a manufacturing facility in Farmers Branch, Texas, for $55 million in June 2025 to boost operational flexibility amid rising demand; entered a strategic partnership and received minority investment from Advantest in January 2025 for probe card technology collaboration; and commenced site work for advanced manufacturing at the Texas facility in November 2025 while targeting 42% gross margins in Q4 2025 driven by HBM4 ramp-up.
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