FormFactor, Inc.

Filing receipts

“The cash used in net working capital was primarily driven by increased inventories of $7.4 million, increased accounts receivable, net, of $7.0 million, increased prepaid and other current assets of $5.7 million, and decreased accrued liabilities of $5.3 million, partially offset by increased accounts payable of $7.5 million and increased deferred revenue of $6.0 million.”

“Cost of revenues included stock-based compensation expense as follows (in thousands): Three Months Ended March 28, 2026 March 29, 2025 Stock-based compensation $ 1,841 $ 2,005 Research and Development Three Months Ended March 28, 2026 March 29, 2025 $ Change % Change (Dollars in thousands) Research and development $ 30,780 $ 27,800 $ 2,980 10.7 % % of revenues 13.6 % 16.2 % Research and development expenses in the three months ended March 28, 2026 increased compared to the corresponding period in the prior year primarily due to higher performance-based compensation and higher restructuring charges, partially offset by lower project material costs, lower general operational costs, and lower...”

“DRAM — The increase in DRAM product revenues for the three months ended March 28, 2026, compared to the three months ended March 29, 2025, was primarily driven by increased demand for high-bandwidth memory (“HBM”) designs utilized in generative artificial intelligence applications, with additional contributions from higher demand for other non-HBM DRAM designs.”