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FORMFACTOR, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) | |||||||||||
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September 28,
2024 |
June 29,
2024 |
December 30,
2023 | |||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 184,506 | $ | 195,914 | $ | 177,812 | |||||
| Marketable securities | 169,961 | 161,710 | 150,507 | ||||||||
| Accounts receivable, net of allowance for credit losses | 116,866 | 113,277 | 102,957 | ||||||||
| Inventories, net | 105,374 | 114,814 | 111,685 | ||||||||
| Restricted cash | 3,773 | 5,939 | 1,152 | ||||||||
| Prepaid expenses and other current assets | 34,302 | 28,964 | 29,667 | ||||||||
| Total current assets | 614,782 | 620,618 | 573,780 | ||||||||
| Restricted cash | 2,210 | 2,098 | 2,309 | ||||||||
| Operating lease, right-of-use-assets | 25,034 | 26,650 | 30,519 | ||||||||
| Property, plant and equipment, net of accumulated depreciation | 204,108 | 204,102 | 204,399 | ||||||||
| Goodwill | 200,137 | 199,548 | 201,090 | ||||||||
| Intangibles, net | 11,017 | 11,657 | 12,938 | ||||||||
| Deferred tax assets | 92,826 | 88,841 | 78,964 | ||||||||
| Other assets | 3,669 | 2,751 | 2,795 | ||||||||
| Total assets | $ | 1,153,783 | $ | 1,156,265 | $ | 1,106,794 | |||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 52,086 | $ | 62,235 | $ | 63,857 | |||||
| Accrued liabilities | 46,508 | 49,523 | 41,037 | ||||||||
| Current portion of term loan, net of unamortized issuance costs | 1,098 | 1,090 | 1,075 | ||||||||
| Deferred revenue | 20,972 | 17,953 | 16,704 | ||||||||
| Operating lease liabilities | 8,512 | 8,240 | 8,422 | ||||||||
| Total current liabilities | 129,176 | 139,041 | 131,095 | ||||||||
| Term loan, less current portion, net of unamortized issuance costs | 12,488 | 12,765 | 13,314 | ||||||||
| Long-term operating lease liabilities | 19,731 | 21,441 | 25,334 | ||||||||
| Deferred grant | 18,000 | 18,000 | 18,000 | ||||||||
| Other liabilities | 19,378 | 17,102 | 10,247 | ||||||||
| Total liabilities | 198,773 | 208,349 | 197,990 | ||||||||
| Stockholders’ equity: | |||||||||||
| Common stock | 77 | 77 | 77 | ||||||||
| Additional paid-in capital | 845,466 | 863,283 | 861,448 | ||||||||
| Accumulated other comprehensive loss | (1,773 | ) | (7,948 | ) | (4,052 | ) | |||||
| Accumulated income | 111,240 | 92,504 | 51,331 | ||||||||
| Total stockholders’ equity | 955,010 | 947,916 | 908,804 | ||||||||
| Total liabilities and stockholders’ equity | $ | 1,153,783 | $ | 1,156,265 | $ | 1,106,794 | |||||
About our Non-GAAP Financial Measures:
