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 high-performance computing and advanced packaging trends.

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

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

• Operational excellence and scalable capacity expansion, including the Farmers Branch facility, are key to supporting future growth.

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

Technology and product innovation

• Advanced MEMS probe technology and proprietary architectures drive differentiation in probe cards for logic, memory, and custom ASICs.

• Increasing test intensity and complexity due to higher power, thermal, and speed requirements in high-performance computing and advanced packaging.

• Co-packaged optics and silicon photonics represent major growth vectors, with the Triton platform enabling high-volume, automated optical testing.

• Early engagement with customers in R&D and lab-to-fab strategies ensures alignment with evolving technology needs.

• Ongoing M&A, such as the Keystone Photonics acquisition, supports innovation in optical probing and CPO roadmap.

Operational excellence and capacity expansion

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

• Farmers Branch site uses a modular, copy-smart approach for phased ramp-up, advanced toolsets, and digital integration for scalable, cost-efficient production.

• Flexible manufacturing lines allow rapid adaptation to shifts in product mix and demand, supporting both logic and memory probe card production.

• AI and automation embedded in operations enhance quality control, defect detection, and yield improvements.

• Capital investments are closely aligned with demand, minimizing speculative capacity and maximizing return rates.