|
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 Gross Profit | $ | 84,705 | $ | 86,900 | $ | 69,285 | $ | 234,343 | $ | 190,646 | |||||||||
| Adjustments: | |||||||||||||||||||
| Amortization of intangibles, inventory and fixed asset fair value adjustments due to acquisitions, and other | 530 | 584 | 1,118 | 1,661 | 3,580 | ||||||||||||||
| Stock-based compensation | 1,934 | 1,932 | 1,376 | 5,794 | 4,801 | ||||||||||||||
| Restructuring charges | 524 | — | — | 607 | 357 | ||||||||||||||
| Non-GAAP Gross Profit | $ | 87,693 | $ | 89,416 | $ | 71,779 | $ | 242,405 | $ | 199,384 | |||||||||
| GAAP Gross Margin | 40.7 | % | 44.0 | % | 40.4 | % | 40.8 | % | 38.5 | % | |||||||||
| Adjustments: | |||||||||||||||||||
| Amortization of intangibles, inventory and fixed asset fair value adjustments due to acquisitions, and other | 0.3 | % | 0.3 | % | 0.7 | % | 0.3 | % | 0.7 | % | |||||||||
| Stock-based compensation | 0.9 | % | 1.0 | % | 0.8 | % | 1.0 | % | 1.0 | % | |||||||||
| Restructuring charges | 0.3 | % | — | % | — | % | 0.1 | % | 0.1 | % | |||||||||
| Non-GAAP Gross Margin | 42.2 | % | 45.3 | % | 41.9 | % | 42.2 | % | 40.3 | % | |||||||||
| GAAP operating expenses | $ | 66,850 | $ | 69,438 | $ | 66,578 | $ | 197,994 | $ | 189,160 | |||||||||
| Adjustments: | |||||||||||||||||||
| Amortization of intangibles and other | (240 | ) | (240 | ) | (466 | ) | (720 | ) | (3,563 | ) | |||||||||
| Stock-based compensation | (7,002 | ) | (8,277 | ) | (9,463 | ) | (23,756 | ) | (24,532 | ) | |||||||||
| Restructuring charges | (249 | ) | — | — | (249 | ) | (1,183 | ) | |||||||||||
| Costs related to sale of business | (13 | ) | (43 | ) | (2,139 | ) | (702 | ) | (2,139 | ) | |||||||||
| Non-GAAP operating expenses | $ | 59,346 | $ | 60,878 | $ | 54,510 | $ | 172,567 | $ | 157,743 | |||||||||
| GAAP operating income | $ | 17,855 | $ | 17,772 | $ | 2,707 | $ | 56,930 | $ | 1,486 | |||||||||
| 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 | ||||||||||||
| Non-GAAP operating income | $ | 28,347 | $ | 28,538 | $ | 17,269 | $ | 69,838 | $ | 41,641 | |||||||||
