FormFactor, Inc. Reports 2024 Third Quarter Results


FORMFACTOR, INC. 
NON-GAAP FINANCIAL MEASURE RECONCILIATIONS
(In thousands, except per share amounts)
(Unaudited)
 
  Three Months Ended  Nine Months Ended
  September 28,
2024
  June 29,
2024
  September 30,
2023
  September 28,
2024
  September 30,
2023
GAAP net income$18,736  $19,392  $4,371  $59,909  $6,541 
Adjustments:         
Amortization of intangibles, inventory and fixed asset fair value adjustments due to acquisitions, and other 770   824   1,584   2,381   7,143 
Stock-based compensation 8,936   10,209   10,839   29,550   29,333 
Restructuring charges  773                   856       1,540  
Gain on sale of business and related costs   13       (267 )     2,139       (19,879 )     2,139  
Income tax effect of non-GAAP adjustments   (2,002 )     (2,835 )     (1,617 )     (3,924 )     (5,650 )
Non-GAAP net income $ 27,226     $ 27,323     $ 17,316     $ 68,893     $ 41,046  
                   
GAAP net income per share:                  
Basic $ 0.24     $ 0.25     $ 0.06     $ 0.77     $ 0.08  
Diluted $ 0.24     $ 0.25     $ 0.06     $ 0.76     $ 0.08  
                   
Non-GAAP net income per share:                  
Basic $ 0.35     $ 0.35     $ 0.22     $ 0.89     $ 0.53  
Diluted $ 0.35     $ 0.35     $ 0.22     $ 0.88     $ 0.53  



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