FormFactor (FORM) Investor Day 2026 summary

Strategic vision and growth targets

• Plans to double revenue to $1.6B and more than double non-GAAP EPS to $5 by 2030, leveraging a unique position in high-performance computing and advanced packaging.

• Growth strategy centers on deep customer partnerships, diversified revenue streams, and operational excellence, including both organic initiatives and M&A.

• Targets 36% market share by 2030 through customer intimacy, global support, and differentiated technology.

• Farmers Branch facility is a key enabler for scalable, cost-efficient manufacturing and margin expansion.

• R&D investment will increase by 70% through 2030 to maintain technology leadership.

Technology and product innovation

• Advanced MEMS probe technology and proprietary architectures (Apollo, SmartMatrix) drive differentiation in probe cards for logic, memory, and HBM applications.

• Growth driven by innovation in probe cards, systems, and co-packaged optics, targeting leadership in advanced packaging and HPC markets.

• Co-packaged optics and silicon photonics represent major growth vectors, with the Triton platform positioned for high-volume manufacturing.

• Early engagement with customers enables co-development and rapid adoption of new test solutions, future-proofing the product roadmap.

• Modular, scalable manufacturing and digital tools (AI, automation) embedded in new facilities to support rapid, flexible growth.

Operational and financial execution

• Unified global operations model has improved yields, reduced cycle times, and increased efficiency, directly boosting margins.

• Gross margin improvement of 1,400 basis points expected, driven by volume, operational excellence, and innovation.

• Operating income targeted to grow nearly 5x by 2030, with average annual EPS growth over 30%.

• Capital allocation prioritizes capacity expansion, especially at Farmers Branch, and continued M&A aligned with strategy.

• Sustaining CapEx planned at 4-5% of revenues, with share repurchases to offset dilution.