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Earnings and Financial Information October 28, 2026 Q3’ 2026
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2© 2026 FORM FACTOR FormFactor at-a-Glance Quarterly Revenue 115,000,000+ MEMS probes/year 10,000+ Labs worldwide FORM (NASDAQ) Since 1993 ~2,200 Employees Global Design, Manufacturing, and Service $980.1M TTM Revenue* 2 *As of September 26, 2026 PROBE CARDS FOR PRODUCTION PROBE SYSTEMS FOR ENGINEERING
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3© 2026 FORM FACTOR FormFactor Financial Highlights Q2 2026 Q3 2026 Revenues $258.2 up 31.9% YoY up 14.2% QoQ 3 Non-GAAP Gross Margin 53.3% up 82.7% YoY up 24.3% QoQ Non-GAAP EPS $0.82 up 198.3% YoY up 50.0% QoQ Revenues $280.5 up 38.4% YoY up 8.6% QoQ Non-GAAP Gross Margin 56.5% up 90.5% YoY up 15.2% QoQ Non-GAAP EPS $1.04 up 213.4% YoY up 30.0% QoQ
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4© 2026 FORM FACTOR Q4 2026 Outlook Revenues $285.0M Non-Gaap Gross Margin Non-GAAP EPS 54.0% $0.95 • Fourth-quarter outlook reflects continued broad-based strength in demand • Farmers Branch ramp to initial target capacity remains on track
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5© 2026 FORM FACTOR $1.6B 55% $5.00 Target Model REVENUES GROSS MARGIN Non-GAAP EPS
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Supplemental Financial Information
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7© 2026 FORM FACTOR Revenue by Geographic Region (in millions) Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Taiwan 115.1 94.4 70.8 57.6 46.9 South Korea 69.1 73.4 80.6 66.6 70.8 United States 41.6 38.2 29.4 34.5 36.4 China 21.3 16.9 11.4 23.3 11.7 Singapore 9.0 6.7 10.3 10.1 9.9 Japan 7.9 4.8 8.3 6.8 11.4 Europe 7.9 9.5 7.8 6.4 7.4 Malaysia 5.7 9.1 3.7 5.6 5.8 Rest of World 3.0 5.2 3.8 4.3 2.4 280.6 258.2 226.1 215.2 202.7
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8© 2026 FORM FACTOR Revenue by Market Segment (in millions) Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Probe Cards Segment 221.1 209.7 198.2 172.9 166.4 Foundry & Logic 134.0 121.8 111.2 92.2 92.9 DRAM 84.9 85.0 82.9 73.3 68.2 Flash 2.2 2.9 4.1 7.4 5.3 Systems Segment 59.5 48.5 27.9 42.3 36.3 280.6 258.2 226.1 215.2 202.7
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9© 2026 FORM FACTOR Customers > 10% of Total Revenue Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 SK hynix Inc. 20.7% 24.3% 29.5% 19.2% 24.5% NVIDIA Corporation * * 10.2% * * Taiwan Semiconductor Manufacturing Company Ltd. 12.8% 11.0% * * * 33.5% 35.3% 39.7% 19.2% 24.5% * Customer represents less than 10% of revenue for respective period
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10© 2026 FORM FACTOR GAAP to Non-GAAP Reconciliation (In thousands, except for per share amounts) GAAP Adjustments Non-GAAP Three Months Ended September 26, 2026 Stock-based Compensation Amortization of Intangibles and Acquisition Fair Value Adjustments Restructuring Other Three Months Ended September 26, 2026 Revenues $280,547 $— $— $— $— $280,547 Cost of revenues 127,151 (1,626) (697) (2,767) — 122,061 Gross profit 153,396 1,626 697 2,767 — 158,486 Operating expenses: Research and development 29,504 (1,959) — — — 27,545 Sales and marketing 19,028 (1,920) (98) (168) — 16,842 General and administrative 16,892 (3,297) — 84 (24) 13,655 Factory start-up costs 6,375 — — — — 6,375 Total operating expenses 71,799 (7,176) (98) (84) (24) 64,417 Operating profit 81,597 8,802 795 2,851 24 94,069 Interest income, net 3,336 — — — — 3,336 Other expense, net (143) — — — — (143) Income before income taxes and equity investment 84,790 8,802 795 2,851 24 97,262 Provision for income taxes 13,114 2,833 256 917 8 17,128 Income from equity investment 2,144 — — — — 2,144 Net income $73,820 $5,969 $539 $1,934 $16 $82,278 Net income per share: Basic $0.94 0.08 0.01 0.02 — $1.05 Diluted $0.93 0.08 0.01 0.02 — $1.04 Weighted-average number of shares: Basic 78,287 78,287 78,287 78,287 78,287 78,287 Diluted 79,447 79,447 79,447 79,447 79,447 79,447 The presentation provides the calculations for Non-GAAP net income and Non-GAAP net income per share. FormFactor excluded the following items from one or more of the Non-GAAP measures: stock-based compensation expense, amortization of intangibles and otherfair value adjustments due to acquisitions, restructuring charges, and other. By publishing the Non-GAAP measures, the company’s management intends to provide investors with additional information to further analyze the company's performance, core results and underlying trends. FormFactor's management evaluates results and makes operating decisions using both GAAP and Non-GAAP measures. Non-GAAP results are not prepared in accordance with GAAP, and Non-GAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP.
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11© 2026 FORM FACTOR Non-GAAP Adjustments & EPS (In thousands, except for per share amounts) The presentation provides the calculations for Non-GAAP net income and Non-GAAP net income per share. FormFactor excluded the following items from one or more of the Non-GAAP measures: restructuring charges, stock-based compensation expense, amortization of intangibles, and fixed asset fair value adjustment due to acquisitions, divestiture and acquisition related expenses, and other. By publishing the Non-GAAP measures, the company’s management intends to provide investors with additional information to further analyze the company's performance, core results and underlying trend s. FormFactor's management evaluates results and makes operating decisions using both GAAP and Non-GAAP measures. Non-GAAP results are not prepared in accordance with GAAP, and Non-GAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Three Months Ended Nine Months Ended September 26, 2026 June 27, 2026 September 27, 2025 September 26, 2026 September 27, 2025 GAAP net income 73,820 56,207 15,656 150,411 31,143 Adjustments: Restructuring charges 2,851 4,493 389 30,665 3,650 Stock-based compensation 8,802 8,590 9,516 25,395 28,703 Amortization of intangibles and fixed asset fair value adjustments due to acquisitions 795 941 681 2,395 2,133 Costs related to sale and acquisition of businesses, net of gain on sale of assets 24 142 91 186 3,768 Income tax effect of non-GAAP adjustments (4,014) (5,367) (649) (17,255) (4,487) Non-GAAP net income 82,278 65,006 25,684 191,797 64,910 Non-GAAP net income per share: Basic 1.05 0.83 0.33 2.46 0.84 Diluted 1.04 0.82 0.33 2.42 0.84 Weighted-average number of shares used in per share calculations: Basic 78,287 78,036 77,387 78,049 77,270 Diluted 79,447 79,607 77,734 79,385 77,684
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12© 2026 FORM FACTOR Gross Profit and Gross Margin by Segment (GAAP) (In thousands, except for percentages) Three Months Ended September 26, 2026 September 27, 2025 Probe Cards Systems Corporate and Other Total Probe Cards Systems Corporate and Other Total Revenues 221,095 59,452 — 280,547 166,380 36,296 — 202,676 Gross profit 122,226 36,260 (5,090) 153,396 67,929 15,244 (2,547) 80,626 Gross margin 55.3% 61.0% —% 54.7% 40.8% 42.0% —% 39.8% Nine Months Ended September 26, 2026 September 27, 2025 Probe Cards Systems Corporate and Other Probe Cards Systems Corporate and Other Revenues 629,047 135,886 — 764,933 465,008 104,822 — 569,830 Gross profit 336,413 70,425 (35,726) 371,112 181,612 44,030 (7,555) 218,087 Gross margin 53.5% 51.8% —% 48.5% 39.1% 42.0% —% 38.3%
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13© 2026 FORM FACTOR Free Cash Flow Reconciliation (In thousands) 2021 2022 2023 2024 2025 2026 Q1'26 Q2'26 Q3'26 Net cash provided by operating activities 139,364 131,786 64,602 117,534 115,398 211,034 44,961 61,803 104,270 Add: Cash paid for interest 643 535 422 391 362 249 85 83 81 Add: Cash paid for acquisition related expenses 209 — 2,407 3,317 1,472 1,216 876 265 75 Capital expenditures (66,496) (65,254) (56,027) (38,436) (103,658) (64,439) (15,192) (9,599) (39,648) Free cash flow 73,720 67,067 11,404 82,806 13,574 148,060 30,730 52,552 64,778