FORM FY 2021 Earnings Report — FormFactor, Inc. Revenue & Financial Results | Market Cap Arena

FormFactor, Inc.FORM

FY 2021 Earnings

Reported February 18, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$770M	—	$694M	—	11.0%
Op. Income	$98M	—	$84M	—	17.0%
Gross Margin	41.9%	—	41.5%	—	0.4pp
Net Margin	10.9%	—	11.3%	—	-0.4pp
EPS (Diluted)	$1.06	—	$0.99	—	7.1%
Free Cash Flow	$73M	—	$113M	—	-35.7%

Revenue Flow

Item	Amount
REVENUE	$770M
Cost of Revenue	$447M
GROSS PROFIT	$323M
R&D Expenses	$101M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$124M
Other Expenses	$0
Operating Expenses	$225M
Cost & Expenses	$672M
OPERATING INCOME	$98M
Interest Income	$569.0K
Interest Expense	$602.0K
Other Income/Expenses	$462.0K
INCOME BEFORE TAX	$99M
Income Tax Expense	$15M
Net Income from Continuing Ops	$84M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$84M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$84M
D&A	$45M
EBIT	$99M
EBITDA	$144M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$770M
Cost of Revenue	$447M
GROSS PROFIT	$323M
R&D Expenses	$101M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$124M
Other Expenses	$0
Operating Expenses	$225M
Cost & Expenses	$672M
OPERATING INCOME	$98M
Interest Income	$569.0K
Interest Expense	$602.0K
Other Income/Expenses	$462.0K
INCOME BEFORE TAX	$99M
Income Tax Expense	$15M
Net Income from Continuing Ops	$84M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$84M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$84M
D&A	$45M
EBIT	$99M
EBITDA	$144M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$84M
Depreciation & Amortization	$45M
Stock-Based Compensation	$29M
Deferred Income Tax	$4M
Other Non-Cash Items	$27M
Change in Working Capital	-$50M
OPERATING CASH FLOW	$139M
Capital Expenditure	-$66M
Acquisitions (Net)	$0
Purchases of Investments	-$150M
Sales/Maturities of Investments	$92M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$125M
Net Debt Issuance	-$9M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$49M
NET CASH FROM FINANCING	-$47M
FREE CASH FLOW	$73M
Net Change in Cash	-$36M

Balance Sheet

Item	Amount
Cash & Equivalents	$151M
Short-Term Investments	$125M
Net Receivables	$116M
Inventory	$112M
Other Current Assets	$2M
TOTAL CURRENT ASSETS	$524M
PP&E (Net)	$182M
Goodwill	$212M
Intangible Assets	$36M
Long-Term Investments	$2M
Tax Assets	$62M
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$496M
TOTAL ASSETS	$1.0B
Account Payables	$58M
Short-Term Debt	$9M
Deferred Revenue	$23M
Other Current Liabilities	$13M
TOTAL CURRENT LIABILITIES	$149M
Long-Term Debt	$15M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$4M
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$56M
TOTAL LIABILITIES	$205M
Common Stock	$78.0K
Additional Paid-In Capital	$899M
Retained Earnings	-$82M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$816M
Minority Interest	$0
TOTAL EQUITY	$816M
TOTAL LIABILITIES & EQUITY	$1.0B
Total Debt	$63M
Net Debt	-$88M