FormFactor, Inc. (NASDAQ:FORM) Q3 2024 Earnings Conference Call October 30, 2024 4:25 PM ET

Company Participants

Mike Slessor - President, Chief Executive Officer
Shai Shahar - Chief Financial Officer
Stan Finkelstein - Vice President of Investor Relations

Conference Call Participants

Krish Sankar - TD Cowen
Charles Shi - Needham & Company
Craig Ellis - B. Riley Securities
David Dooley - Steelhead Securities
Christian Schwab - Craig-Hallum
Tom Diffely - D.A. Davidson
Gus Richard - Northland Capital Markets

Operator

Thank you, and welcome everyone to FormFactor's Third Quarter 2024 Earnings Conference Call. On today's call are Chief Executive Officer, Mike Slessor; and Chief Financial Officer, Shai Shahar. Before we begin, Stan Finkelstein, the company's VP of Investor Relations, will remind you of some important information.

Stan Finkelstein

Thank you. Today the company will be discussing GAAP P&L results and some important non-GAAP results intended to supplement your understanding of the company's financials. Reconciliations of GAAP to non-GAAP measures and other financial information are available in the press release issued today by the company and on the Investor Relations section of our website.

Today's discussion contains forward-looking statements within the meaning of the Federal Securities Laws. Examples of such forward-looking statements include those with respect to the projections of financial and business performance, future macroeconomic and geopolitical conditions, the benefits of acquisitions and investments in capacity and new technologies.

The impact of global, regional and national health crises, including the COVID-19 pandemic, anticipated industry trends, potential disruptions in our supply chain, the impacts of regulatory changes, including the recent U.S., China trade restrictions, the anticipated demand for products, our ability to develop, produce, and sell products, and the assumptions upon which such statements are based. These statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed during this call.

Information on risk factors and uncertainties is contained in our most recent filings on Form 10-K with the SEC for the fiscal year ended December 30, 2023, and in our other SEC filings, which are available on the SEC's website at www.sec.gov, and in our press release issued today. Forward-looking statements are made as of today, October 30, 2024, and we assume no obligation to update them.

With that, we will now turn the call over to FormFactor's CEO, Mike Slessor.

Mike Slessor

Thanks, everyone, for joining us today. Driven by growth in both of our segments, FormFactor's third quarter revenue exceeded the outlook range we provided in July and set an all-time record. In addition, DRAM probe-card revenue set a third consecutive quarterly record, and non-GAAP earnings per share was at the top end of the outlook range.