Company Achieves Record Probe Card Revenues Across a Broad Base of Applications, Surpassing $600M in 2021
LIVERMORE, Calif., July 08, 2022 (GLOBE NEWSWIRE) -- FormFactor, Inc. (NASDAQ: FORM), a leading test and measurement supplier, was again ranked as the world’s number one supplier of semiconductor probe cards for 2021 by market research firm TechInsights, after growing 9% in probe card revenues year-over-year. FormFactor has held the top position in the report* for nine consecutive years.
The majority of FormFactor’s probe card revenues were from advanced wafer probe cards, a segment which according to TechInsights accounts for more than 85% of the overall probe card market. Key to the company’s success in 2021 was continued revenue growth year-over-year in probe cards used by Memory manufacturers and Foundry & Logic customers as they accelerated adoption of advanced packaging techniques such as heterogenous integration of chiplets. TechInsights forecasts the market for advanced probe cards to grow at 7% CAGR from 2021-2026 to reach >$3.1 billion.
“Advanced probe card revenues continue to grow in support of increasingly complex chip designs, which raise the bar for wafer test,” said Andrea Lati, Director of Research at TechInsights. “Advanced packaging technologies are at the forefront of manufacturers’ strategies for chip scaling and performance enhancements. This trend continues to drive FormFactor’s growth, since advanced probe cards are essential to test these sophisticated ICs.”
“Customer demand for FormFactor’s broad portfolio of market-leading advanced probe-card products for both Memory and Foundry & Logic applications continued to be strong in 2021, contributing to record annual revenue for FormFactor,” said FormFactor CEO, Mike Slessor. “We value the trust our customers place in us to support their new-design product ramps as we partner with them to rapidly bring these new products to market. As demonstrated by our continuing market-leading investments in capacity and technology, we’re committed to keeping pace with innovation and growth in the industry, as we help our customers bring their new products to market faster and accelerate their profitability.”
*The Probe Card Report, TechInsights, formerly issued by VLSIresearch.
FormFactor, Inc. (NASDAQ:FORM), is a leading provider of essential test and measurement technologies along the full IC life cycle – from metrology and inspection, characterization, modeling, reliability, and design debug, to qualification and production test. Semiconductor companies worldwide rely upon FormFactor’s products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. FormFactor’s leading-edge probe stations, probes, probe cards, optical metrology and inspection, advanced thermal subsystems, and quantum cryogenic systems deliver precision accuracy and superior performance. For more information, visit the Company’s website at www.formfactor.com.
Caution Regarding Forward-looking Statements:
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the federal securities laws, including with respect to the Company’s plans, strategies and objectives for future operations and investments. These statements are based on management’s current expectations and beliefs as of the date hereof, and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, but are not limited to statements regarding future technology trends and trends in customer requirements, the capabilities and advantages of the Company’s products to meet future customer requirements, future market or demand growth, our ability to further develop and produce products to meet customer requirements and demand, and other factors, including those set forth in the Company’s most current annual report on Form 10-K, quarterly reports on Form 10-Q and other filings by the Company with the U.S. Securities and Exchange Commission. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of the Company. Unless required by law, the Company is under no obligation (and expressly disclaims any such obligation) to update or revise its forward-looking statements whether as a result of new information, future events, or otherwise.
Source: FormFactor, Inc.