0001039399-22-000099 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 24, 2022	Oct. 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 24, 2022
Document Transition Report	false
Entity File Number	000-50307
Entity Registrant Name	FormFactor, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3711155
Entity Address, Address Line One	7005 Southfront Road
Entity Address, City or Town	Livermore
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94551
City Area Code	925
Local Phone Number	290-4000
Title of 12(b) Security	Common stock, $0.001 par value
Trading Symbol	FORM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		77,025,103
Amendment Flag	false
Entity Central Index Key	0001039399
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Current assets:
Cash and cash equivalents	$ 120,602	$ 151,010
Marketable securities	130,991	125,055
Accounts receivable, net of allowance for credit losses of $190 and $195	110,497	115,541
Inventories, net	132,029	111,548
Restricted cash	1,263	2,233
Prepaid expenses and other current assets	20,932	18,652
Total current assets	516,314	524,039
Restricted cash	1,840	2,099
Operating lease, right-of-use-assets	31,508	35,210
Property, plant and equipment, net of accumulated depreciation	163,384	146,555
Goodwill	209,105	212,299
Intangibles, net	28,208	36,342
Deferred tax assets	67,775	61,995
Other assets	4,229	1,981
Total assets	1,022,363	1,020,520
Current liabilities:
Accounts payable	75,021	57,862
Accrued liabilities	46,328	50,836
Current portion of term loans, net of unamortized issuance costs	2,734	8,931
Deferred revenue	31,974	23,224
Operating lease liabilities	7,699	7,901
Total current liabilities	163,756	148,754
Term loans, less current portion, net of unamortized issuance costs	14,653	15,434
Deferred tax liabilities	2,232	3,623
Long-term operating lease liabilities	27,858	31,009
Other liabilities	5,562	5,920
Total liabilities	214,061	204,740
Stockholders’ equity:
Common stock, $0.001 par value	77	78
Additional paid-in capital	843,453	898,945
Accumulated other comprehensive loss	(17,899)	(1,449)
Accumulated deficit	(17,329)	(81,794)
Total stockholders’ equity	808,302	815,780
Total liabilities and stockholders’ equity	$ 1,022,363	$ 1,020,520

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 190	$ 195
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	77,265,099	78,240,506
Common stock, shares outstanding (in shares)	77,265,099	78,240,506

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Income Statement [Abstract]
Revenues	$ 180,869	$ 189,964	$ 581,950	$ 564,676
Cost of revenues	118,656	109,745	331,144	331,468
Gross profit	62,213	80,219	250,806	233,208
Operating expenses:
Research and development	26,549	26,026	82,000	75,526
Selling, general and administrative	31,637	30,940	97,949	91,434
Total operating expenses	58,186	56,966	179,949	166,960
Operating income	4,027	23,253	70,857	66,248
Interest income	709	121	1,147	463
Interest expense	(152)	(151)	(463)	(447)
Other income, net	1,041	58	1,784	36
Income before income taxes	5,625	23,281	73,325	66,300
Provision for income taxes	1,274	2,784	8,860	8,273
Net income	$ 4,351	$ 20,497	$ 64,465	$ 58,027
Net income per share:
Basic (in dollars per share)	$ 0.06	$ 0.26	$ 0.83	$ 0.75
Diluted (in dollars per share)	$ 0.06	$ 0.26	$ 0.82	$ 0.73
Weighted-average number of shares used in per share calculations:
Basic (in shares)	77,245	77,869	77,796	77,643
Diluted (in shares)	77,688	79,029	78,492	79,190

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 4,351	$ 20,497	$ 64,465	$ 58,027
Other comprehensive loss, net of tax:
Translation adjustments	(7,348)	(1,511)	(13,902)	(3,258)
Unrealized losses on available-for-sale marketable securities	(674)	(62)	(2,425)	(290)
Unrealized losses on derivative instruments	(881)	(323)	(123)	(638)
Other comprehensive loss, net of tax:	(8,903)	(1,896)	(16,450)	(4,186)
Comprehensive income (loss)	$ (4,552)	$ 18,601	$ 48,015	$ 53,841

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 26, 2020		77,437,997
Beginning balance at Dec. 26, 2020	$ 744,084	$ 78	$ 903,838	$ 5,886	$ (165,718)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under the Employee Stock Purchase Plan (in shares)		378,584
Issuance of common stock under the Employee Stock Purchase Plan	9,809		9,809
Issuance of common stock pursuant to exercise of options (in shares)		100,000
Issuance of common stock pursuant to exercise of options	844	$ 0	844
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax (in shares)		910,838
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax	(19,601)	$ 1	(19,602)
Purchase of common stock retired through repurchase program (in shares)		620,200
Purchase and retirement of common stock through repurchase program	(23,951)	$ (1)	(23,950)
Stock-based compensation	21,364		21,364
Other comprehensive income (loss)	(4,186)			(4,186)
Net income	58,027				58,027
Ending balance (in shares) at Sep. 25, 2021		78,207,219
Ending balance at Sep. 25, 2021	786,390	$ 78	892,303	1,700	(107,691)
Beginning balance (in shares) at Jun. 26, 2021		77,454,800
Beginning balance at Jun. 26, 2021	769,547	$ 77	894,062	3,596	(128,188)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under the Employee Stock Purchase Plan (in shares)		149,800
Issuance of common stock under the Employee Stock Purchase Plan	4,744	$ 0	4,744
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax (in shares)		602,619
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax	(14,340)	$ 1	(14,341)
Stock-based compensation	7,838		7,838
Other comprehensive income (loss)	(1,896)			(1,896)
Net income	20,497				20,497
Ending balance (in shares) at Sep. 25, 2021		78,207,219
Ending balance at Sep. 25, 2021	$ 786,390	$ 78	892,303	1,700	(107,691)
Beginning balance (in shares) at Dec. 25, 2021	78,240,506	78,240,506
Beginning balance at Dec. 25, 2021	$ 815,780	$ 78	898,945	(1,449)	(81,794)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under the Employee Stock Purchase Plan (in shares)		316,861
Issuance of common stock under the Employee Stock Purchase Plan	10,457		10,457
Issuance of common stock pursuant to exercise of options (in shares)		6,000
Issuance of common stock pursuant to exercise of options	42		42
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax (in shares)		713,554
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax	(15,563)	$ 1	(15,564)
Purchase of common stock retired through repurchase program (in shares)		2,011,822
Purchase and retirement of common stock through repurchase program	(73,478)	$ (2)	(73,476)
Stock-based compensation	23,049		23,049
Other comprehensive income (loss)	(16,450)			(16,450)
Net income	$ 64,465				64,465
Ending balance (in shares) at Sep. 24, 2022	77,265,099	77,265,099
Ending balance at Sep. 24, 2022	$ 808,302	$ 77	843,453	(17,899)	(17,329)
Beginning balance (in shares) at Jun. 25, 2022		77,194,733
Beginning balance at Jun. 25, 2022	829,985	$ 77	860,584	(8,996)	(21,680)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under the Employee Stock Purchase Plan (in shares)		159,219
Issuance of common stock under the Employee Stock Purchase Plan	4,812		4,812
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax (in shares)		479,478
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax	(11,320)	$ 1	(11,321)
Purchase of common stock retired through repurchase program (in shares)		568,331
Purchase and retirement of common stock through repurchase program	(19,150)	$ (1)	(19,149)
Stock-based compensation	8,527		8,527
Other comprehensive income (loss)	(8,903)			(8,903)
Net income	$ 4,351				4,351
Ending balance (in shares) at Sep. 24, 2022	77,265,099	77,265,099
Ending balance at Sep. 24, 2022	$ 808,302	$ 77	$ 843,453	$ (17,899)	$ (17,329)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021
Cash flows from operating activities:
Net income	$ 64,465	$ 58,027
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	21,189	19,256
Amortization	7,056	16,362
Reduction in the carrying amount of right-of-use assets	5,900	5,412
Stock-based compensation expense	21,873	21,585
Deferred income tax benefit	(6,881)	(873)
Provision for excess and obsolete inventories	16,078	11,621
Non-cash restructuring charges	710	1,592
Gain on contingent consideration	0	(95)
Other adjustments to reconcile net income to net cash provided by operating activities	3,356	2,500
Changes in assets and liabilities:
Accounts receivable	1,654	1,157
Inventories	(33,023)	(30,335)
Prepaid expenses and other current assets	(2,016)	3,631
Other assets	(117)	(333)
Accounts payable	17,613	1,488
Accrued liabilities	(5,035)	(6,951)
Other liabilities	276	47
Deferred revenues	3,776	2,000
Operating lease liabilities	(5,826)	(5,654)
Net cash provided by operating activities	111,048	100,437
Cash flows from investing activities:
Acquisition of property, plant and equipment	(39,024)	(51,353)
Acquisition of business	(3,350)	0
Purchases of marketable securities	(80,249)	(114,898)
Purchase of promissory note receivable	1,000	0
Proceeds from maturities and sales of marketable securities	71,610	71,275
Net cash used in investing activities	(52,013)	(94,976)
Cash flows from financing activities:
Proceeds from issuances of common stock	10,499	10,647
Purchase of common stock through stock repurchase program	(73,478)	(23,951)
Tax withholdings related to net share settlements of equity awards	(15,564)	(12,643)
Payment of contingent consideration	0	(3,873)
Principal repayments on term loans	(6,421)	(7,049)
Net cash used in financing activities	(84,964)	(36,869)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(5,708)	(2,216)
Net decrease in cash, cash equivalents and restricted cash	(31,637)	(33,624)
Cash, cash equivalents and restricted cash, beginning of period	155,342	191,098
Cash, cash equivalents and restricted cash, end of period	123,705	157,474
Non-cash investing and financing activities:
Increase in accounts payable and accrued liabilities related to property, plant and equipment purchases	341	4,684
Increase in accrued liabilities related to tax withholdings related to net share settlements of equity awards	0	6,952
Operating lease, right-of-use assets obtained in exchange for lease obligations	3,457	11,699
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net	9,911	6,795
Cash paid for interest	455	496
Operating cash outflows from operating leases	6,670	6,553
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	120,602	153,781
Restricted cash, current	1,263	2,019
Restricted cash, non-current	1,840	1,674
Total cash, cash equivalents and restricted cash	$ 123,705	$ 157,474

Basis of Presentation and New Accounting Pronouncements	9 Months Ended
Basis of Presentation and New Accounting Pronouncements	Sep. 24, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and New Accounting Pronouncements	Basis of Presentation and New Accounting Pronouncements Basis of Presentation The accompanying condensed consolidated financial information of FormFactor, Inc. is unaudited and has been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). However, such information reflects all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods. The condensed consolidated financial statements included herein should be read in conjunction with the consolidated financial statements and the notes thereto included in our 2021 Annual Report on Form 10-K filed with the SEC on February 18, 2022. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the full year. Fiscal Year We operate on a 52/53 week fiscal year, whereby the fiscal year ends on the last Saturday of December. Fiscal 2022 and 2021 contain 53 weeks and 52 weeks, respectively, and the nine months ended September 24, 2022 and September 25, 2021 each contained 39 weeks. Fiscal 2022 will end on December 31, 2022. Significant Accounting Policies Our significant accounting policies have not changed during the nine months ended September 24, 2022 from those disclosed in our Annual Report on Form 10-K for the year ended December 25, 2021. Reclassifications Certain immaterial reclassifications were made to the prior year financial statements to conform to the current year presentation. New Accounting Pronouncements ASU 2021-08 In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The new guidance requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification 606, “Revenue from Contracts with Customers,” as if it had originated the contracts. The Company elected to early adopt on a prospective basis during the second quarter of fiscal 2022. The adoption did not have a material effect on the Company's Consolidated Financial Statements.

Concentration of Credit and Other Risks

9 Months Ended

Sep. 24, 2022

Risks and Uncertainties [Abstract]

Concentration of Credit and Other Risks

Each of the following customers accounted for 10% or more of our revenues for the periods indicated:


	Three Months Ended				Nine Months Ended
	September 24, 2022		September 25, 2021		September 24, 2022		September 25, 2021
Intel Corporation	17.0	%	20.8	%	19.7	%	21.7	%
SK Hynix Inc.	10.7		*		*		*


Samsung Electronics., LTD.	*		12.9	%	*		10.5	%
	27.7	%	33.7	%	19.7	%	32.2	%

At September 24, 2022, one customer accounted for 18.1% of gross accounts receivable. At December 25, 2021, one customer accounted for 13.8% of gross accounts receivable.

Inventories, net

9 Months Ended

Sep. 24, 2022

Inventory Disclosure [Abstract]

Inventories, net

Inventories are stated at the lower of cost (principally standard cost, which approximates actual cost on a first in, first out basis) or net realizable value.

Inventories, net, consisted of the following (in thousands):


	September 24, 2022		December 25, 2021
Raw materials	$	61,312	$	57,673
Work-in-progress	48,439		35,935
Finished goods	22,278		17,940
	$	132,029	$	111,548

Acquisitions

9 Months Ended

Sep. 24, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions

Acquisition

Woburn Acquisition

On June 9, 2022, we acquired the assets of the dilution refrigerator product line of American ULT Cryogenics, formerly d/b/a JanisULT (“Woburn”), for total consideration of $3.4 million. This acquisition adds cryogen-free dilution refrigerators capable of cooling to sub-10 millikelvin to our product portfolio, which is required for operation of superconducting quantum computers.

The acquisition price was allocated to the tangible and identified intangible assets acquired and liabilities assumed as of the closing date of the acquisition based upon their respective fair values. The fair values assigned to assets acquired and liabilities assumed were based on management’s assumptions as of the reporting date. Goodwill represents the excess of purchase price over the fair value assigned to the assets acquired and liabilities assumed and is allocated to the HPD reporting unit within the Systems reportable segment. The identified intangible asset, developed technology, has a useful life of three years.

Our purchase accounting remains open as of the reporting date, with the purchase price preliminarily allocated to acquired assets and liabilities assumed that are subject to change as more information becomes available. The primary areas of the purchase price allocation that are not yet finalized relate to the valuation of inventories, developed technology intangible asset, and residual goodwill. The preliminary fair value of assets acquired, including goodwill and intangibles, and liabilities assumed for the purchase as follows (in thousands):


	Amount
Accounts receivable	$	178
Inventories	7,041
Property, plant and equipment	479
Prepaid expenses and other current assets	117
Other assets	28
Tangible assets acquired	7,843
Deferred revenue	(5,513)
Accounts payable and accrued liabilities	(30)
Total tangible assets acquired and liabilities assumed	2,300
Developed technology intangible asset	500
Goodwill	550
Net assets acquired	$	3,350

Goodwill and Intangible Assets

9 Months Ended

Sep. 24, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill by reportable segment was as follows (in thousands):


	Probe Cards		Systems		Total
Goodwill, as of December 26, 2020	$	178,072	$	34,689	$	212,761

Addition - Baldwin Park Acquisition	352		—		352
Addition - HPD Acquisition	—		1,254		1,254
Foreign currency translation	—		(2,068)		(2,068)
Goodwill, as of December 25, 2021	178,424		33,875		212,299

Addition - Woburn Acquisition	—		550		550
Foreign currency translation	—		(3,744)		(3,744)
Goodwill, as of June 25, 2022	$	178,424	$	30,681	$	209,105

We have not recorded goodwill impairments for the nine months ended September 24, 2022.

Intangible assets were as follows (in thousands):


	September 24, 2022						December 25, 2021
Intangible Assets	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Existing developed technologies	$	169,246	$	148,916	$	20,330	$	172,259	$	148,784	$	23,475
Customer relationships	50,316		43,094		7,222		51,270		39,254		12,016
Trade name	7,835		7,579		256		8,054		7,603		451
Backlog	—		—		—		1,896		1,896		—
In-process research and development	400		—		400		400		—		400
	$	227,797	$	199,589	$	28,208	$	233,879	$	197,537	$	36,342

Amortization expense was included in our Condensed Consolidated Statements of Income as follows (in thousands):


	Three Months Ended				Nine Months Ended
	September 24, 2022		September 25, 2021		September 24, 2022		September 25, 2021
Cost of revenues	$	824	$	858	$	2,420	$	11,453
Selling, general and administrative	1,530		1,604		4,636		4,909
	$	2,354	$	2,462	$	7,056	$	16,362

The estimated future amortization of definite-lived intangible assets, excluding in-process research and development, is as follows (in thousands):


Fiscal Year	Amount
Remainder of 2022	$	2,307
2023	6,944
2024	4,393
2025	4,062
2026	3,011
Thereafter	7,091
	$	27,808

Accrued Liabilities

9 Months Ended

Sep. 24, 2022

Payables and Accruals [Abstract]

Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	September 24, 2022		December 25, 2021
Accrued compensation and benefits	$	23,398	$	29,706
Accrued income and other taxes	11,835		8,086
Accrued warranty	3,806		2,805
Employee stock purchase plan contributions withheld	1,979		4,693
Accrued restructuring charges	—		2,478
Other accrued expenses	5,310		3,068
	$	46,328	$	50,836

Restructuring Charges

9 Months Ended

Sep. 24, 2022

Restructuring and Related Activities [Abstract]

Restructuring Charges

On September 25, 2021, we adopted restructuring plans to improve our business effectiveness and streamline our operations by consolidating certain manufacturing facilities for both the Probe Cards segment and the Systems segment. This included plans to consolidate or relocate certain leased locations in the United States to other locations in the United States, Germany and Asia. As a result of these changes to certain work locations, we have incurred personnel-related costs to sever, relocate, or retain select employees. Additionally, this included plans to adjust capacity for certain product offerings, which resulted in contract termination costs and receipt of inventories ultimately deemed to be impaired to satisfy contract obligations. We expect the actions defined under these plans will be largely completed by the end of December 2022, except facilities charges which may extend beyond that time.

These plans are expected to result in FormFactor recording restructuring and other charges in the aggregate amount of approximately $10.5 million to $12.6 million, estimated to be comprised primarily of $1.0 million to $1.2 million of severance and employee-related costs, $1.5 million to $1.9 million in contract and lease termination costs, $7.5 million to $8.5 million in inventory impairments, and $0.5 million to $1.0 million of cost related to impairment of leasehold improvements, facility exits, and other costs. Approximately $8.7 million to $9.7 million is expected within the Probe Cards segment and $1.8 million to $2.9 million is expected within the Systems segments.

The Company has recognized restructuring and other charges to date in the aggregate amount of $11.2 million, comprised of $1.2 million of severance and employee-related costs, $1.5 million in contract and lease termination costs, $8.0 million in inventory impairments, and $0.6 million of cost related to impairment of leasehold improvements, facility exits and other costs.

During the three months ended September 24, 2022 we reassessed the estimate for excess inventory received to satisfy our contract obligations from our adjustment of certain product offerings. As a result of receiving additional clarity regarding future customer demand, we recorded an additional $5.9 million inventory impairment not included in our original estimate of restructuring charges.

Restructuring charges by reportable segment included in our Condensed Consolidated Statements of Income were as follows (in thousands):


	Three Months Ended
	September 24, 2022						September 25, 2021
	Probe Cards		Systems		Total		Probe Cards		Systems		Total
Cost of revenues	$	5,928	$	132	$	6,060	$	4,070	$	252	$	4,322
Research and development	38		29		67		—		289		289
Selling, general and administrative	—		47		47		—		22		22
	$	5,966	$	208	$	6,174	$	4,070	$	563	$	4,633


	Nine Months Ended
	September 24, 2022						September 25, 2021
	Probe Cards		Systems		Total		Probe Cards		Systems		Total
Cost of revenues	$	6,194	$	459	$	6,653	$	4,070	$	420	$	4,490
Research and development	38		228		266		—		694		694
Selling, general and administrative	3		146		149		—		83		83
	$	6,235	$	833	$	7,068	$	4,070	$	1,197	$	5,267

Changes to the restructuring accrual in the nine months ended September 24, 2022 were as follows (in thousands):


	Employee Severance and Benefits		Inventory Impairments		Property and Equipment Impairments and Move Costs		Contract Termination Costs		Total
December 25, 2021	$	1,028	$	—	$	—	$	1,450	$	2,478
Restructuring charges	152		6,580		292		44		7,068
Cash payments	(1,180)		(31)		(228)		(1,494)		(2,933)

Non-cash settlement	—		(6,549)		(64)		—		(6,613)
September 24, 2022	$	—	$	—	$	—	$	—	$	—

Fair Value and Derivative Instruments

9 Months Ended

Sep. 24, 2022

Fair Value Disclosures [Abstract]

Fair Value and Derivative Instruments

Whenever possible, the fair values of our financial assets and liabilities are determined using quoted market prices of identical securities or quoted market prices of similar securities from active markets. The three levels of inputs that may be used to measure fair value are as follows:

•Level 1 valuations are obtained from real-time quotes for transactions in active exchange markets involving identical securities;

•Level 2 valuations utilize significant observable inputs, such as quoted prices for similar assets or liabilities, quoted prices near the reporting date in markets that are less active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and

•Level 3 valuations utilize unobservable inputs to the valuation methodology and include our own data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances.

We did not have any transfers of assets or liabilities measured at fair value on a recurring basis to or from Level 1, Level 2 or Level 3 during the three and nine months ended September 24, 2022 or the year ended December 25, 2021.

The carrying values of Cash, Accounts receivable, net, Restricted cash, Prepaid expenses and other current assets, Accounts payable, and Accrued liabilities approximate fair value due to their short maturities.

No changes were made to our valuation techniques during the first nine months of fiscal 2022.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis were as follows (in thousands):


September 24, 2022	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	27,581	$	—	$	—	$	27,581
Commercial paper	—		1,398		—		1,398

Corporate bonds	—		2,995		—		2,995

	27,581		4,393		—		31,974
Marketable securities:
Corporate bonds	—		69,548		—		69,548
U.S. treasuries	32,820		—		—		32,820
Commercial paper	—		16,881		—		16,881
U.S. agency securities	—		11,041		—		11,041
Certificates of deposit	—		701		—		701
	32,820		98,171		—		130,991

Promissory note receivable	—		—		1,019		1,019
Interest rate swap derivative contracts	—		2,420		—		2,420
Total assets	$	60,401	$	104,984	$	1,019	$	166,404
Liabilities:
Foreign exchange derivative contracts	$	—	$	(2,457)	$	—	$	(2,457)


December 25, 2021	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	9,526	$	—	$	—	$	9,526
U.S. agency securities	—		5,556		—		5,556
U.S. treasuries	2,500		—		—		2,500
Commercial paper	—		1,000		—		1,000
	12,026		6,556		—		18,582
Marketable securities:
Corporate bonds	—		52,709		—		52,709
U.S. treasuries	38,985		—		—		38,985

Commercial paper	—		32,162		—		32,162
Certificates of deposit	—		1,199		—		1,199
	38,985		86,070		—		125,055

Interest rate swap derivative contracts	—		629		—		629
Total assets	$	51,011	$	93,255	$	—	$	144,266
Liabilities:
Foreign exchange derivative contracts	$	—	$	(489)	$	—	$	(489)
Interest rate swap derivative contracts	—		(55)		—		(55)
Total liabilities	$	—	$	(544)	$	—	$	(544)

Cash Equivalents

The fair value of our cash equivalents is determined based on quoted market prices for similar or identical securities.

Marketable Securities

We classify our marketable securities as available-for-sale and value them utilizing a market approach. Our investments are priced by pricing vendors who provide observable inputs for their pricing without applying significant judgment. Broker pricing is used mainly when a quoted price is not available, the investment is not priced by our pricing vendors or when a broker price

is more reflective of fair value. Our broker-priced investments are categorized as Level 2 investments because fair value is based on similar assets without applying significant judgments. In addition, all investments have a sufficient trading volume to demonstrate that the fair value is appropriate.

Unrealized gains and losses were immaterial and were recorded as a component of Accumulated other comprehensive loss in our Condensed Consolidated Balance Sheets. We did not have any other-than-temporary unrealized gains or losses at either period end included in these financial statements.

Interest Rate Swaps

The fair value of our interest rate swap contracts is determined at the end of each reporting period based on valuation models that use interest rate yield curves as inputs. For accounting purposes, our interest rate swap contracts qualify for, and are designated as, cash flow hedges. The cash flows associated with the interest rate swaps are reported in Net cash provided by operating activities in our Condensed Consolidated Statements of Cash Flows and the fair value of the interest rate swap contracts are recorded within Prepaid expenses and other current assets and Other assets in our Condensed Consolidated Balance Sheets.

Foreign Exchange Derivative Contracts

We operate and sell our products in various global markets. As a result, we are exposed to changes in foreign currency exchange rates. We utilize foreign currency forward contracts to hedge against future movements in foreign exchange rates that affect certain existing foreign currency denominated assets and liabilities and forecasted foreign currency revenue and expense transactions. Under this program, our strategy is to have increases or decreases in our foreign currency exposures mitigated by gains or losses on the foreign currency forward contracts in order to mitigate the risks and volatility associated with foreign currency transaction gains or losses.

We do not use derivative financial instruments for speculative or trading purposes. For accounting purposes, certain of our foreign currency forward contracts are not designated as hedging instruments and, accordingly, we record the fair value of these contracts as of the end of our reporting period in our Condensed Consolidated Balance Sheets with changes in fair value recorded within Other income, net in our Condensed Consolidated Statement of Income for both realized and unrealized gains and losses. Certain of our foreign currency forward contracts are designated as cash flow hedges, and, accordingly, we record the fair value of these contracts as of the end of our reporting period in our Condensed Consolidated Balance Sheets with changes in fair value recorded as a component of Accumulated other comprehensive loss and reclassified into earnings in the same period in which the hedged transaction affects earnings, and in the same line item on the Condensed Consolidated Statements of Income as the impact of the hedge transaction.

The fair value of our foreign exchange derivative contracts was determined based on current foreign currency exchange rates and forward points. All of our foreign exchange derivative contracts outstanding at September 24, 2022 will mature by the third quarter of fiscal 2023.

The following table provides information about our foreign currency forward contracts outstanding as of September 24, 2022 (in thousands):


Currency	Contract Position	Contract Amount (Local Currency)	Contract Amount (U.S. Dollars)
Euro Dollar	Buy	(29,215)	$	(31,087)

Japanese Yen	Sell	2,145,851	14,995
Korean Won	Buy	(847,855)	(603)
Taiwan Dollar	Sell	27,157	857

Total USD notional amount of outstanding foreign exchange contracts			$	(15,838)

Our foreign currency contracts are classified within Level 2 of the fair value hierarchy as they are valued using pricing models that utilize observable market inputs.

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

We measure and report our non-financial assets such as Property, plant and equipment, Goodwill and Intangible assets at fair value on a non-recurring basis if we determine these assets to be impaired or in the period when we make a business acquisition. Other than as discussed in Note 4, Acquisition, and Note 7, Restructuring Charges, there were no assets or liabilities measured at fair value on a nonrecurring basis during the three and nine months ended September 24, 2022 or September 25, 2021.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Warranty

9 Months Ended

Sep. 24, 2022

Product Warranties Disclosures [Abstract]

Warranty

We offer warranties on certain products and record a liability for the estimated future costs associated with warranty claims at the time revenue is recognized. The warranty liability is based upon historical experience and our estimate of the level of future costs. While we engage in product quality programs and processes, our warranty obligation is affected by product failure rates, material usage and service delivery costs. We regularly monitor product returns for warranty and maintain a reserve for the related expenses based upon our historical experience and any specifically identified failures. As we sell new products to our customers, we must exercise considerable judgment in estimating the expected failure rates. This estimating process is based on historical experience of similar products, as well as various other assumptions that we believe to be reasonable under the circumstances. We provide for the estimated cost of product warranties at the time revenue is recognized as a component of Cost of revenues in our Condensed Consolidated Statement of Income.

Changes in our warranty liability were as follows (in thousands):


	Nine Months Ended
	September 24, 2022		September 25, 2021
Balance at beginning of period	$	2,805	$	3,918
Accruals	5,653		4,688
Settlements	(4,652)		(5,803)
Balance at end of period	$	3,806	$	2,803

Property, Plant, and Equipment, net

9 Months Ended

Sep. 24, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

Property, plant and equipment, net consisted of the following (in thousands):


	September 24, 2022		December 25, 2021
Land	$	4,751	$	4,751
Building and building improvements	44,447		41,722
Machinery and equipment	267,612		252,632
Computer equipment and software	45,533		44,667
Furniture and fixtures	7,375		7,293
Leasehold improvements	83,682		82,266
Sub-total	453,400		433,331
Less: Accumulated depreciation and amortization	(327,884)		(312,700)
Net, property, plant and equipment	125,516		120,631
Construction-in-process	37,868		25,924
Total	$	163,384	$	146,555

Stockholders’ Equity and Stock-Based Compensation

3 Months Ended

Sep. 24, 2022

Equity [Abstract]

Stockholders’ Equity and Stock-Based Compensation

Common Stock Repurchase Programs

On October 26, 2020, our Board of Directors authorized a two-year program to repurchase up to $50 million of outstanding common stock to offset potential dilution from issuances of common stock under our stock-based compensation programs. During fiscal 2021 we repurchased and retired 622,400 shares of common stock for $24.0 million. During the nine months ended September 24, 2022, we repurchased and retired 676,408 shares of common stock for $26.0 million, utilizing the remaining funds available for repurchase.

On May 20, 2022, our Board of Directors authorized an additional program to repurchase up to $75 million of outstanding common stock, also with the primary purpose to offset potential dilution from issuances of common stock under our stock-based compensation programs. The share repurchase program will expire on May 20, 2024. During the nine months ended September 24, 2022, we repurchased and retired 1,335,414 shares of common stock for $47.5 million under the program. As of September 24, 2022, $27.5 million remained available for future repurchases.

Our policy related to repurchases of our common stock is to charge the excess of cost over par value to additional paid-in capital once the shares are retired. All repurchases were made in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

Restricted Stock Units

Restricted stock unit (“RSU”) activity under our equity incentive plan was as follows:


	Units	Weighted Average Grant Date Fair Value
RSUs at December 25, 2021	2,166,934	$	28.63
Awards granted	1,338,278	34.95
Awards vested	(1,133,782)	22.45
Awards forfeited	(66,279)	31.07
RSUs at September 24, 2022	2,305,151	35.27

Performance Restricted Stock Units

We may grant Performance RSUs (“PRSUs”) to certain executives, which vest based upon us achieving certain market performance criteria.

On August 1, 2022, we granted 204,903 PRSUs to certain senior executives for a total grant date fair value of $8.6 million which will be recognized ratably over the requisite service period. The performance criteria are based on Total Shareholder Returns (“TSR”) for the period of July 1, 2022 - June 30, 2025, relative to the TSR of the companies identified as being part of the S&P Semiconductors Select Industry Index (FormFactor peer companies) as of the grant date.

Of the 273,000 PRSUs granted in fiscal 2019, 36,000 shares were forfeited, resulting in 237,000 shares vesting in 2022. These shares achieved 147% TSR performance, which resulted in an additional 110,605 shares issued in fiscal 2022 related to the fiscal 2019 PRSU grant.

PRSUs are included as part of the RSU activity above.

Employee Stock Purchase Plan

Information related to activity under our Employee Stock Purchase Plan (“ESPP”) was as follows:


	Nine Months Ended
	September 24, 2022
Shares issued	316,861
Weighted average per share purchase price	$	33.00
Weighted average per share discount from the fair value of our common stock on the date of issuance	$	(6.13)

Stock-Based Compensation

Stock-based compensation was included in our Condensed Consolidated Statements of Income as follows (in thousands):


	Three Months Ended				Nine Months Ended
	September 24, 2022		September 25, 2021		September 24, 2022		September 25, 2021
Cost of revenues	$	1,022	$	1,392	$	2,834	$	3,806
Research and development	2,027		2,010		5,708		5,362
Selling, general and administrative	4,946		4,518		13,331		12,417
Total stock-based compensation	$	7,995	$	7,920	$	21,873	$	21,585

Unrecognized Compensation Costs

At September 24, 2022, the unrecognized stock-based compensation was as follows (dollars in thousands):


	Unrecognized Expense		Average Expected Recognition Period in Years
Restricted stock units	$	54,872	2.31
Performance restricted stock units	14,239		2.25
Employee stock purchase plan	1,694		0.36
Total unrecognized stock-based compensation expense	$	70,805	2.25

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

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+ Details

Net Income per Share

9 Months Ended

Sep. 24, 2022

Earnings Per Share [Abstract]

Net Income per Share

The following table reconciles the shares used in calculating basic net income per share and diluted net income per share (in thousands):


	Three Months Ended		Nine Months Ended
	September 24, 2022	September 25, 2021	September 24, 2022	September 25, 2021



Weighted-average shares used in computing basic net income per share	77,245	77,869	77,796	77,643
Add potentially dilutive securities	443	1,160	696	1,547
Weighted-average shares used in computing diluted net income per share	77,688	79,029	78,492	79,190

Securities not included as they would have been antidilutive	897	121	266	109

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 24, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases See Note 14, Leases. Contractual Obligations and Commitments Our contractual obligations and commitments have not materially changed as of September 24, 2022 from those disclosed in our Annual Report on Form 10-K for the year ended December 25, 2021. Legal Matters From time to time, we may be subject to legal proceedings and claims in the ordinary course of business. As of September 24, 2022, and as of the filing of this Quarterly Report on Form 10-Q, we were not involved in any material legal proceedings.

Leases

9 Months Ended

Sep. 24, 2022

Leases [Abstract]

Leases

LeasesWe lease real estate space under non-cancelable operating lease agreements for commercial and industrial space, as well as for a portion of our corporate headquarters located in Livermore, California. Our leases have remaining terms of 1 to 6 years, and some leases include options to extend up to 20 years. We also have operating leases for automobiles with remaining lease terms of 1 to 3 years. We did not include any of our renewal options in our lease terms for calculating our lease liability as the renewal options allow us to maintain operational flexibility and we are not reasonably certain we will exercise these options at this time. The weighted-average remaining lease term for our operating leases was 5 years as of September 24, 2022 and the weighted-average discount rate was 3.75%.

The components of lease expense were as follows (in thousands):


	Three Months Ended				Nine Months Ended
	September 24, 2022		September 25, 2021		September 24, 2022		September 25, 2021
Lease expense:
Operating lease expense	$	2,118	$	2,167	$	6,522	$	6,338
Short-term lease expense	135		51		251		133
Variable lease expense	590		461		1,725		1,424
	$	2,843	$	2,679	$	8,498	$	7,895

Future minimum payments under our non-cancelable operating leases were as follows as of September 24, 2022 (in thousands):


Fiscal Year	Amount
Remainder of 2022	$	4,275
2023	7,545
2024	7,236
2025	7,170
2026	6,450
Thereafter	9,042
Total minimum lease payments	41,718
Less: interest	(6,161)
Present value of net minimum lease payments	35,557
Less: current portion	(7,699)
Total long-term operating lease liabilities	$	27,858

Revenue	9 Months Ended
Revenue	Sep. 24, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Transaction price allocated to the remaining performance obligations: On September 24, 2022, we had $8.3 million of remaining performance obligations, which were comprised of deferred service contracts and extended warranty contracts and contracts with overtime revenue recognition that are not yet delivered. We expect to recognize approximately 40.0% of our remaining performance obligations as revenue in the remainder of fiscal 2022, approximately 49.8% in fiscal 2023, and approximately 10.2% in fiscal 2024 and thereafter. The foregoing excludes the value of other remaining performance obligations as they have original durations of one year or less, and also excludes information about variable consideration allocated entirely to a wholly unsatisfied performance obligation. Contract balances: The timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable is recorded at the invoiced amount, net of an allowance for credit losses. A receivable is recognized in the period we deliver goods or provide services or when our right to consideration is unconditional. A contract asset is recorded when we have performed under the contract but our right to consideration is conditional on something other than the passage of time. Contract assets as of September 24, 2022 and December 25, 2021 were $3.0 million and $0.9 million, respectively, and are reported on the Condensed Consolidated Balance Sheets as a component of Prepaid expenses and other current assets. Contract liabilities include payments received and payments due in advance of performance under a contract and are satisfied as the associated revenue is recognized. Contract liabilities are reported on the Condensed Consolidated Balance Sheets at the end of each reporting period as a component of Deferred revenue and Other liabilities. Contract liabilities as of September 24, 2022 and December 25, 2021 were $33.1 million and $24.2 million, respectively. During the nine months ended September 24, 2022, we recognized $19.0 million of revenue that was included in contract liabilities as of December 25, 2021. Costs to obtain a contract: We generally expense sales commissions when incurred as a component of Selling, general and administrative expense, as the amortization period is typically less than one year. Revenue by Category: Refer to Note 16, Operating Segments and Enterprise-Wide Information, for further details.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Operating Segments and Enterprise-Wide Information

9 Months Ended

Sep. 24, 2022

Segment Reporting [Abstract]

Operating Segments and Enterprise-Wide Information

Our chief operating decision maker (“CODM”) is our Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire company. We operate in two reportable segments consisting of the Probe Cards segment and the Systems segment. The following table summarizes the operating results by reportable segment (dollars in thousands):


	Three Months Ended
	September 24, 2022											September 25, 2021
	Probe Cards			Systems			Corporate and Other		Total			Probe Cards			Systems			Corporate and Other		Total
Revenues	$	139,365		$	41,504		$	—	$	180,869		$	154,850		$	35,114		$	—	$	189,964
Gross profit	48,252			22,284			(8,323)		62,213			69,868			17,553			(7,202)		80,219
Gross margin	34.6		%	53.7		%			34.4		%	45.1		%	50.0		%			42.2		%

	Nine Months Ended
	September 24, 2022											September 25, 2021
	Probe Cards			Systems			Corporate and Other		Total			Probe Cards			Systems			Corporate and Other		Total
Revenues	$	467,056		$	114,894		$	—	$	581,950		$	467,389		$	97,287		$	—	$	564,676
Gross profit	203,874			59,967			(13,035)		250,806			206,783			48,059			(21,634)		233,208
Gross margin	43.7		%	52.2		%			43.1		%	44.2		%	49.4		%			41.3		%

Operating results provide useful information to our management for assessment of our performance and results of operations. Certain components of our operating results are utilized to determine executive compensation along with other measures.

Corporate and Other includes unallocated expenses relating to amortization of intangible assets, inventory and fixed asset fair value adjustments due to acquisitions, share-based compensation, and restructuring charges which are not used in evaluating the results of, or in allocating resources to, our reportable segments.

Certain revenue category information by reportable segment was as follows (in thousands):


	Three Months Ended
	September 24, 2022						September 25, 2021
	Probe Cards		Systems		Total		Probe Cards		Systems		Total
Market:
Foundry & Logic	$	90,605	$	—	$	90,605	$	104,640	$	—	$	104,640
DRAM	34,922		—		34,922		39,816		—		39,816
Flash	13,838		—		13,838		10,394		—		10,394
Systems	—		41,504		41,504		—		35,114		35,114
Total	$	139,365	$	41,504	$	180,869	$	154,850	$	35,114	$	189,964
Timing of revenue recognition:
Products transferred at a point in time	$	138,602	$	37,842	$	176,444	$	154,217	$	33,564	$	187,781
Products and services transferred over time	763		3,662		4,425		633		1,550		2,183
Total	$	139,365	$	41,504	$	180,869	$	154,850	$	35,114	$	189,964
Geographical region:
United States	$	25,909	$	12,180	$	38,089	$	18,530	$	6,938	$	25,468
Taiwan	32,227		4,611		36,838		34,100		7,474		41,574
China	27,973		8,755		36,728		46,011		5,036		51,047
South Korea	28,118		819		28,937		27,895		1,077		28,972
Europe	3,682		8,116		11,798		3,595		6,891		10,486
Singapore	7,983		2,374		10,357		6,841		711		7,552
Japan	4,533		3,159		7,692		5,767		4,961		10,728
Malaysia	6,272		237		6,509		11,353		280		11,633
Rest of the world	2,668		1,253		3,921		758		1,746		2,504
Total	$	139,365	$	41,504	$	180,869	$	154,850	$	35,114	$	189,964


	Nine Months Ended
	September 24, 2022						September 25, 2021
	Probe Cards		Systems		Total		Probe Cards		Systems		Total
Market:
Foundry & Logic	$	327,106	$	—	$	327,106	$	321,776	$	—	$	321,776
DRAM	106,202		—		106,202		115,802		—		115,802
Flash	33,748		—		33,748		29,811		—		29,811
Systems	—		114,894		114,894		—		97,287		97,287
Total	$	467,056	$	114,894	$	581,950	$	467,389	$	97,287	$	564,676
Timing of revenue recognition:
Products transferred at a point in time	$	464,139	$	106,339	$	570,478	$	465,822	$	89,119	$	554,941
Products and services transferred over time	2,917		8,555		11,472		1,567		8,168		9,735
Total	$	467,056	$	114,894	$	581,950	$	467,389	$	97,287	$	564,676
Geographical region:
Taiwan	$	119,937	$	19,990	$	139,927	$	125,571	$	13,467	$	139,038
China	101,342		23,520		124,862		107,838		17,661		125,499
United States	67,424		27,554		94,978		64,012		23,592		87,604
South Korea	80,417		4,776		85,193		81,322		2,912		84,234
Malaysia	43,946		1,006		44,952		34,275		483		34,758
Singapore	23,398		4,963		28,361		23,070		3,002		26,072
Europe	9,888		18,396		28,284		12,894		19,601		32,495
Japan	16,034		10,977		27,011		14,493		13,260		27,753
Rest of the world	4,670		3,712		8,382		3,914		3,309		7,223
Total	$	467,056	$	114,894	$	581,950	$	467,389	$	97,287	$	564,676

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Subsequent Event (Notes)	9 Months Ended
Subsequent Event (Notes)	Sep. 24, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn October 25, 2022, we adopted a restructuring plan to align our cost structure with reduced demand levels within the Probe Cards segment by streamlining and improving the efficiency and business effectiveness of our operations. The plan includes lowering headcount by approximately 13% of our workforce, which is expected to result in recognizing restructuring charges of approximately $6.6 million in cash, consisting of severance and employee-related costs. We expect the actions defined under this plan will be largely completed by the end of the fourth quarter of fiscal 2022. Upon completion, this action is expected to reduce our cost structure by approximately $25 to $30 million on an annualized basis.

Basis of Presentation and New Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 24, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of PresentationThe accompanying condensed consolidated financial information of FormFactor, Inc. is unaudited and has been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). However, such information reflects all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods. The condensed consolidated financial statements included herein should be read in conjunction with the consolidated financial statements and the notes thereto included in our 2021 Annual Report on Form 10-K filed with the SEC on February 18, 2022. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the full year.
Fiscal Year	Fiscal Year We operate on a 52/53 week fiscal year, whereby the fiscal year ends on the last Saturday of December. Fiscal 2022 and 2021 contain 53 weeks and 52 weeks, respectively, and the nine months ended September 24, 2022 and September 25, 2021 each contained 39 weeks. Fiscal 2022 will end on December 31, 2022.
New Accounting Pronouncements	New Accounting Pronouncements ASU 2021-08 In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The new guidance requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification 606, “Revenue from Contracts with Customers,” as if it had originated the contracts. The Company elected to early adopt on a prospective basis during the second quarter of fiscal 2022. The adoption did not have a material effect on the Company's Consolidated Financial Statements.
Fair Value	Whenever possible, the fair values of our financial assets and liabilities are determined using quoted market prices of identical securities or quoted market prices of similar securities from active markets. The three levels of inputs that may be used to measure fair value are as follows: •Level 1 valuations are obtained from real-time quotes for transactions in active exchange markets involving identical securities; •Level 2 valuations utilize significant observable inputs, such as quoted prices for similar assets or liabilities, quoted prices near the reporting date in markets that are less active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and •Level 3 valuations utilize unobservable inputs to the valuation methodology and include our own data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances. We did not have any transfers of assets or liabilities measured at fair value on a recurring basis to or from Level 1, Level 2 or Level 3 during the three and nine months ended September 24, 2022 or the year ended December 25, 2021. The carrying values of Cash, Accounts receivable, net, Restricted cash, Prepaid expenses and other current assets, Accounts payable, and Accrued liabilities approximate fair value due to their short maturities. No changes were made to our valuation techniques during the first nine months of fiscal 2022. Assets and Liabilities Measured at Fair Value on a Non-Recurring BasisWe measure and report our non-financial assets such as Property, plant and equipment, Goodwill and Intangible assets at fair value on a non-recurring basis if we determine these assets to be impaired or in the period when we make a business acquisition.

Concentration of Credit and Other Risks (Tables)

9 Months Ended

Sep. 24, 2022

Risks and Uncertainties [Abstract]

Schedule of Customer Percentage of Revenue

Each of the following customers accounted for 10% or more of our revenues for the periods indicated:


	Three Months Ended				Nine Months Ended
	September 24, 2022		September 25, 2021		September 24, 2022		September 25, 2021
Intel Corporation	17.0	%	20.8	%	19.7	%	21.7	%
SK Hynix Inc.	10.7		*		*		*


Samsung Electronics., LTD.	*		12.9	%	*		10.5	%
	27.7	%	33.7	%	19.7	%	32.2	%

Inventories, net (Tables)

9 Months Ended

Sep. 24, 2022

Inventory Disclosure [Abstract]

Schedule of Inventory Components

Inventories, net, consisted of the following (in thousands):


	September 24, 2022		December 25, 2021
Raw materials	$	61,312	$	57,673
Work-in-progress	48,439		35,935
Finished goods	22,278		17,940
	$	132,029	$	111,548

Acquisitions (Tables)

9 Months Ended

Sep. 24, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The preliminary fair value of assets acquired, including goodwill and intangibles, and liabilities assumed for the purchase as follows (in thousands):


	Amount
Accounts receivable	$	178
Inventories	7,041
Property, plant and equipment	479
Prepaid expenses and other current assets	117
Other assets	28
Tangible assets acquired	7,843
Deferred revenue	(5,513)
Accounts payable and accrued liabilities	(30)
Total tangible assets acquired and liabilities assumed	2,300
Developed technology intangible asset	500
Goodwill	550
Net assets acquired	$	3,350

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 24, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Reportable Segments

Goodwill by reportable segment was as follows (in thousands):


	Probe Cards		Systems		Total
Goodwill, as of December 26, 2020	$	178,072	$	34,689	$	212,761

Addition - Baldwin Park Acquisition	352		—		352
Addition - HPD Acquisition	—		1,254		1,254
Foreign currency translation	—		(2,068)		(2,068)
Goodwill, as of December 25, 2021	178,424		33,875		212,299

Addition - Woburn Acquisition	—		550		550
Foreign currency translation	—		(3,744)		(3,744)
Goodwill, as of June 25, 2022	$	178,424	$	30,681	$	209,105

Schedule of Intangible Assets

Intangible assets were as follows (in thousands):


	September 24, 2022						December 25, 2021
Intangible Assets	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Existing developed technologies	$	169,246	$	148,916	$	20,330	$	172,259	$	148,784	$	23,475
Customer relationships	50,316		43,094		7,222		51,270		39,254		12,016
Trade name	7,835		7,579		256		8,054		7,603		451
Backlog	—		—		—		1,896		1,896		—
In-process research and development	400		—		400		400		—		400
	$	227,797	$	199,589	$	28,208	$	233,879	$	197,537	$	36,342

Schedule of Amortization Expense

Amortization expense was included in our Condensed Consolidated Statements of Income as follows (in thousands):


	Three Months Ended				Nine Months Ended
	September 24, 2022		September 25, 2021		September 24, 2022		September 25, 2021
Cost of revenues	$	824	$	858	$	2,420	$	11,453
Selling, general and administrative	1,530		1,604		4,636		4,909
	$	2,354	$	2,462	$	7,056	$	16,362

Schedule of Estimated Amortization of Intangible Assets

The estimated future amortization of definite-lived intangible assets, excluding in-process research and development, is as follows (in thousands):


Fiscal Year	Amount
Remainder of 2022	$	2,307
2023	6,944
2024	4,393
2025	4,062
2026	3,011
Thereafter	7,091
	$	27,808

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
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-Paragraph 1
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Accrued Liabilities (Tables)

9 Months Ended

Sep. 24, 2022

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	September 24, 2022		December 25, 2021
Accrued compensation and benefits	$	23,398	$	29,706
Accrued income and other taxes	11,835		8,086
Accrued warranty	3,806		2,805
Employee stock purchase plan contributions withheld	1,979		4,693
Accrued restructuring charges	—		2,478
Other accrued expenses	5,310		3,068
	$	46,328	$	50,836

Restructuring Charges (Tables)

9 Months Ended

Sep. 24, 2022

Restructuring and Related Activities [Abstract]

Restructuring Costs by Reportable Segment

Restructuring charges by reportable segment included in our Condensed Consolidated Statements of Income were as follows (in thousands):


	Three Months Ended
	September 24, 2022						September 25, 2021
	Probe Cards		Systems		Total		Probe Cards		Systems		Total
Cost of revenues	$	5,928	$	132	$	6,060	$	4,070	$	252	$	4,322
Research and development	38		29		67		—		289		289
Selling, general and administrative	—		47		47		—		22		22
	$	5,966	$	208	$	6,174	$	4,070	$	563	$	4,633


	Nine Months Ended
	September 24, 2022						September 25, 2021
	Probe Cards		Systems		Total		Probe Cards		Systems		Total
Cost of revenues	$	6,194	$	459	$	6,653	$	4,070	$	420	$	4,490
Research and development	38		228		266		—		694		694
Selling, general and administrative	3		146		149		—		83		83
	$	6,235	$	833	$	7,068	$	4,070	$	1,197	$	5,267

Schedule of Restructuring Accrual Activity

Changes to the restructuring accrual in the nine months ended September 24, 2022 were as follows (in thousands):


	Employee Severance and Benefits		Inventory Impairments		Property and Equipment Impairments and Move Costs		Contract Termination Costs		Total
December 25, 2021	$	1,028	$	—	$	—	$	1,450	$	2,478
Restructuring charges	152		6,580		292		44		7,068
Cash payments	(1,180)		(31)		(228)		(1,494)		(2,933)

Non-cash settlement	—		(6,549)		(64)		—		(6,613)
September 24, 2022	$	—	$	—	$	—	$	—	$	—

Fair Value and Derivative Instruments (Tables)

9 Months Ended

Sep. 24, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis were as follows (in thousands):


September 24, 2022	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	27,581	$	—	$	—	$	27,581
Commercial paper	—		1,398		—		1,398

Corporate bonds	—		2,995		—		2,995

	27,581		4,393		—		31,974
Marketable securities:
Corporate bonds	—		69,548		—		69,548
U.S. treasuries	32,820		—		—		32,820
Commercial paper	—		16,881		—		16,881
U.S. agency securities	—		11,041		—		11,041
Certificates of deposit	—		701		—		701
	32,820		98,171		—		130,991

Promissory note receivable	—		—		1,019		1,019
Interest rate swap derivative contracts	—		2,420		—		2,420
Total assets	$	60,401	$	104,984	$	1,019	$	166,404
Liabilities:
Foreign exchange derivative contracts	$	—	$	(2,457)	$	—	$	(2,457)


December 25, 2021	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	9,526	$	—	$	—	$	9,526
U.S. agency securities	—		5,556		—		5,556
U.S. treasuries	2,500		—		—		2,500
Commercial paper	—		1,000		—		1,000
	12,026		6,556		—		18,582
Marketable securities:
Corporate bonds	—		52,709		—		52,709
U.S. treasuries	38,985		—		—		38,985

Commercial paper	—		32,162		—		32,162
Certificates of deposit	—		1,199		—		1,199
	38,985		86,070		—		125,055

Interest rate swap derivative contracts	—		629		—		629
Total assets	$	51,011	$	93,255	$	—	$	144,266
Liabilities:
Foreign exchange derivative contracts	$	—	$	(489)	$	—	$	(489)
Interest rate swap derivative contracts	—		(55)		—		(55)
Total liabilities	$	—	$	(544)	$	—	$	(544)

Schedule of Foreign Currency Forward Contracts

The following table provides information about our foreign currency forward contracts outstanding as of September 24, 2022 (in thousands):


Currency	Contract Position	Contract Amount (Local Currency)	Contract Amount (U.S. Dollars)
Euro Dollar	Buy	(29,215)	$	(31,087)

Japanese Yen	Sell	2,145,851	14,995
Korean Won	Buy	(847,855)	(603)
Taiwan Dollar	Sell	27,157	857

Total USD notional amount of outstanding foreign exchange contracts			$	(15,838)

Warranty (Tables)

9 Months Ended

Sep. 24, 2022

Product Warranties Disclosures [Abstract]

Schedule of Reconciliation of Changes in Warranty Liability

Changes in our warranty liability were as follows (in thousands):


	Nine Months Ended
	September 24, 2022		September 25, 2021
Balance at beginning of period	$	2,805	$	3,918
Accruals	5,653		4,688
Settlements	(4,652)		(5,803)
Balance at end of period	$	3,806	$	2,803

Property, Plant, and Equipment, net (Tables)

9 Months Ended

Sep. 24, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment, net consisted of the following (in thousands):


	September 24, 2022		December 25, 2021
Land	$	4,751	$	4,751
Building and building improvements	44,447		41,722
Machinery and equipment	267,612		252,632
Computer equipment and software	45,533		44,667
Furniture and fixtures	7,375		7,293
Leasehold improvements	83,682		82,266
Sub-total	453,400		433,331
Less: Accumulated depreciation and amortization	(327,884)		(312,700)
Net, property, plant and equipment	125,516		120,631
Construction-in-process	37,868		25,924
Total	$	163,384	$	146,555

Stockholders’ Equity and Stock-Based Compensation (Tables)

9 Months Ended

Sep. 24, 2022

Equity [Abstract]

Schedule of Restricted Stock Unit Activity

Restricted stock unit (“RSU”) activity under our equity incentive plan was as follows:


	Units	Weighted Average Grant Date Fair Value
RSUs at December 25, 2021	2,166,934	$	28.63
Awards granted	1,338,278	34.95
Awards vested	(1,133,782)	22.45
Awards forfeited	(66,279)	31.07
RSUs at September 24, 2022	2,305,151	35.27

Schedule of ESPP Activity

Information related to activity under our Employee Stock Purchase Plan (“ESPP”) was as follows:


	Nine Months Ended
	September 24, 2022
Shares issued	316,861
Weighted average per share purchase price	$	33.00
Weighted average per share discount from the fair value of our common stock on the date of issuance	$	(6.13)

Schedule of Stock-based Compensation

Stock-based compensation was included in our Condensed Consolidated Statements of Income as follows (in thousands):


	Three Months Ended				Nine Months Ended
	September 24, 2022		September 25, 2021		September 24, 2022		September 25, 2021
Cost of revenues	$	1,022	$	1,392	$	2,834	$	3,806
Research and development	2,027		2,010		5,708		5,362
Selling, general and administrative	4,946		4,518		13,331		12,417
Total stock-based compensation	$	7,995	$	7,920	$	21,873	$	21,585

Schedule of Unrecognized Stock-based Compensation

At September 24, 2022, the unrecognized stock-based compensation was as follows (dollars in thousands):


	Unrecognized Expense		Average Expected Recognition Period in Years
Restricted stock units	$	54,872	2.31
Performance restricted stock units	14,239		2.25
Employee stock purchase plan	1,694		0.36
Total unrecognized stock-based compensation expense	$	70,805	2.25

Net Income per Share (Tables)

9 Months Ended

Sep. 24, 2022

Earnings Per Share [Abstract]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share

The following table reconciles the shares used in calculating basic net income per share and diluted net income per share (in thousands):


	Three Months Ended		Nine Months Ended
	September 24, 2022	September 25, 2021	September 24, 2022	September 25, 2021



Weighted-average shares used in computing basic net income per share	77,245	77,869	77,796	77,643
Add potentially dilutive securities	443	1,160	696	1,547
Weighted-average shares used in computing diluted net income per share	77,688	79,029	78,492	79,190

Securities not included as they would have been antidilutive	897	121	266	109

Leases (Tables)

9 Months Ended

Sep. 24, 2022

Leases [Abstract]

Schedule of Components of Lease Expense

The components of lease expense were as follows (in thousands):


	Three Months Ended				Nine Months Ended
	September 24, 2022		September 25, 2021		September 24, 2022		September 25, 2021
Lease expense:
Operating lease expense	$	2,118	$	2,167	$	6,522	$	6,338
Short-term lease expense	135		51		251		133
Variable lease expense	590		461		1,725		1,424
	$	2,843	$	2,679	$	8,498	$	7,895

Schedule of Future Minimum Payments Under Leases

Future minimum payments under our non-cancelable operating leases were as follows as of September 24, 2022 (in thousands):


Fiscal Year	Amount
Remainder of 2022	$	4,275
2023	7,545
2024	7,236
2025	7,170
2026	6,450
Thereafter	9,042
Total minimum lease payments	41,718
Less: interest	(6,161)
Present value of net minimum lease payments	35,557
Less: current portion	(7,699)
Total long-term operating lease liabilities	$	27,858

Operating Segments and Enterprise-Wide Information (Tables)

9 Months Ended

Sep. 24, 2022

Segment Reporting [Abstract]

Schedule of Operating Results by Segment

The following table summarizes the operating results by reportable segment (dollars in thousands):


	Three Months Ended
	September 24, 2022											September 25, 2021
	Probe Cards			Systems			Corporate and Other		Total			Probe Cards			Systems			Corporate and Other		Total
Revenues	$	139,365		$	41,504		$	—	$	180,869		$	154,850		$	35,114		$	—	$	189,964
Gross profit	48,252			22,284			(8,323)		62,213			69,868			17,553			(7,202)		80,219
Gross margin	34.6		%	53.7		%			34.4		%	45.1		%	50.0		%			42.2		%

	Nine Months Ended
	September 24, 2022											September 25, 2021
	Probe Cards			Systems			Corporate and Other		Total			Probe Cards			Systems			Corporate and Other		Total
Revenues	$	467,056		$	114,894		$	—	$	581,950		$	467,389		$	97,287		$	—	$	564,676
Gross profit	203,874			59,967			(13,035)		250,806			206,783			48,059			(21,634)		233,208
Gross margin	43.7		%	52.2		%			43.1		%	44.2		%	49.4		%			41.3		%

Schedule of Disaggregation of Revenue by Segment

Certain revenue category information by reportable segment was as follows (in thousands):


	Three Months Ended
	September 24, 2022						September 25, 2021
	Probe Cards		Systems		Total		Probe Cards		Systems		Total
Market:
Foundry & Logic	$	90,605	$	—	$	90,605	$	104,640	$	—	$	104,640
DRAM	34,922		—		34,922		39,816		—		39,816
Flash	13,838		—		13,838		10,394		—		10,394
Systems	—		41,504		41,504		—		35,114		35,114
Total	$	139,365	$	41,504	$	180,869	$	154,850	$	35,114	$	189,964
Timing of revenue recognition:
Products transferred at a point in time	$	138,602	$	37,842	$	176,444	$	154,217	$	33,564	$	187,781
Products and services transferred over time	763		3,662		4,425		633		1,550		2,183
Total	$	139,365	$	41,504	$	180,869	$	154,850	$	35,114	$	189,964
Geographical region:
United States	$	25,909	$	12,180	$	38,089	$	18,530	$	6,938	$	25,468
Taiwan	32,227		4,611		36,838		34,100		7,474		41,574
China	27,973		8,755		36,728		46,011		5,036		51,047
South Korea	28,118		819		28,937		27,895		1,077		28,972
Europe	3,682		8,116		11,798		3,595		6,891		10,486
Singapore	7,983		2,374		10,357		6,841		711		7,552
Japan	4,533		3,159		7,692		5,767		4,961		10,728
Malaysia	6,272		237		6,509		11,353		280		11,633
Rest of the world	2,668		1,253		3,921		758		1,746		2,504
Total	$	139,365	$	41,504	$	180,869	$	154,850	$	35,114	$	189,964


	Nine Months Ended
	September 24, 2022						September 25, 2021
	Probe Cards		Systems		Total		Probe Cards		Systems		Total
Market:
Foundry & Logic	$	327,106	$	—	$	327,106	$	321,776	$	—	$	321,776
DRAM	106,202		—		106,202		115,802		—		115,802
Flash	33,748		—		33,748		29,811		—		29,811
Systems	—		114,894		114,894		—		97,287		97,287
Total	$	467,056	$	114,894	$	581,950	$	467,389	$	97,287	$	564,676
Timing of revenue recognition:
Products transferred at a point in time	$	464,139	$	106,339	$	570,478	$	465,822	$	89,119	$	554,941
Products and services transferred over time	2,917		8,555		11,472		1,567		8,168		9,735
Total	$	467,056	$	114,894	$	581,950	$	467,389	$	97,287	$	564,676
Geographical region:
Taiwan	$	119,937	$	19,990	$	139,927	$	125,571	$	13,467	$	139,038
China	101,342		23,520		124,862		107,838		17,661		125,499
United States	67,424		27,554		94,978		64,012		23,592		87,604
South Korea	80,417		4,776		85,193		81,322		2,912		84,234
Malaysia	43,946		1,006		44,952		34,275		483		34,758
Singapore	23,398		4,963		28,361		23,070		3,002		26,072
Europe	9,888		18,396		28,284		12,894		19,601		32,495
Japan	16,034		10,977		27,011		14,493		13,260		27,753
Rest of the world	4,670		3,712		8,382		3,914		3,309		7,223
Total	$	467,056	$	114,894	$	581,950	$	467,389	$	97,287	$	564,676

Concentration of Credit and Other Risks (Details) - Customer Concentration Risk	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021	Dec. 25, 2021
Revenue Benchmark \| Three Major Customers
Concentration Risk [Line Items]
Concentration risk percentage			10.00%	10.00%
Revenue from Contract with Customer Benchmark \| Intel Corporation
Concentration Risk [Line Items]
Concentration risk percentage	17.00%	20.80%	19.70%	21.70%
Revenue from Contract with Customer Benchmark \| SK Hynix Inc.
Concentration Risk [Line Items]
Concentration risk percentage	10.70%
Revenue from Contract with Customer Benchmark \| Samsung Electronics., LTD.
Concentration Risk [Line Items]
Concentration risk percentage		12.90%		10.50%
Revenue from Contract with Customer Benchmark \| Customers Representing 10% or More of Total Revenues
Concentration Risk [Line Items]
Concentration risk percentage	27.70%	33.70%	19.70%	32.20%
Accounts Receivable \| Major Customer 1
Concentration Risk [Line Items]
Concentration risk percentage			18.10%		13.80%

Inventories, net (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 61,312	$ 57,673
Work-in-progress	48,439	35,935
Finished goods	22,278	17,940
Inventories	$ 132,029	$ 111,548

Acquisitions - Additional Information (Details) $ in Millions	Jun. 09, 2022 USD ($)
Woburn
Business Acquisition [Line Items]
Consideration transferred	$ 3.4

Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Jun. 09, 2022	Dec. 25, 2021	Dec. 26, 2020
Business Acquisition [Line Items]
Goodwill	$ 209,105		$ 212,299	$ 212,761
Woburn
Business Acquisition [Line Items]
Accounts receivable		$ 178
Inventories		7,041
Property, plant and equipment		479
Prepaid expenses and other current assets		117
Other assets		28
Tangible assets acquired		7,843
Deferred revenue		(5,513)
Accounts payable and accrued liabilities		(30)
Total tangible assets acquired and liabilities assumed		2,300
Developed technology intangible asset		500
Goodwill		550
Net assets acquired		$ 3,350

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 24, 2022	Dec. 25, 2021
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 212,299	$ 212,761
Foreign currency translation	(3,744)	(2,068)
Goodwill, ending balance	209,105	212,299
Baldwin Park
Goodwill [Roll Forward]
Goodwill, acquired during period		352
High Precision Devices, Inc.
Goodwill [Roll Forward]
Goodwill, acquired during period		1,254
Woburn
Goodwill [Roll Forward]
Goodwill, acquired during period	550
Probe Cards
Goodwill [Roll Forward]
Goodwill, beginning balance	178,424	178,072
Foreign currency translation	0	0
Goodwill, ending balance	178,424	178,424
Probe Cards \| Baldwin Park
Goodwill [Roll Forward]
Goodwill, acquired during period		352
Probe Cards \| High Precision Devices, Inc.
Goodwill [Roll Forward]
Goodwill, acquired during period		0
Probe Cards \| Woburn
Goodwill [Roll Forward]
Goodwill, acquired during period	0
Systems
Goodwill [Roll Forward]
Goodwill, beginning balance	33,875	34,689
Foreign currency translation	(3,744)	(2,068)
Goodwill, ending balance	30,681	33,875
Systems \| Baldwin Park
Goodwill [Roll Forward]
Goodwill, acquired during period		0
Systems \| High Precision Devices, Inc.
Goodwill [Roll Forward]
Goodwill, acquired during period		$ 1,254
Systems \| Woburn
Goodwill [Roll Forward]
Goodwill, acquired during period	$ 550

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Intangible Assets - Additional information (Details)	9 Months Ended
	Sep. 24, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, impairment loss	$ 0

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Finite-Lived Intangible Assets [Line Items]
Gross	$ 227,797	$ 233,879
Accumulated Amortization	199,589	197,537
Net	28,208	36,342
Existing developed technologies
Finite-Lived Intangible Assets [Line Items]
Gross	169,246	172,259
Accumulated Amortization	148,916	148,784
Net	20,330	23,475
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	50,316	51,270
Accumulated Amortization	43,094	39,254
Net	7,222	12,016
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross	7,835	8,054
Accumulated Amortization	7,579	7,603
Net	256	451
Backlog
Finite-Lived Intangible Assets [Line Items]
Gross	0	1,896
Accumulated Amortization	0	1,896
Net	0	0
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Gross	400	400
Accumulated Amortization	0	0
Net	$ 400	$ 400

Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Property, Plant and Equipment [Line Items]
Amortization of intangible assets	$ 2,354	$ 2,462	$ 7,056	$ 16,362
Finite-Lived Intangible Assets, Net, Amortization Expense, Rolling Maturity [Abstract]
Remainder of 2022	2,307		2,307
2023	6,944		6,944
2024	4,393		4,393
2025	4,062		4,062
2026	3,011		3,011
Thereafter	7,091		7,091
Net	27,808		27,808
Cost of revenues
Property, Plant and Equipment [Line Items]
Amortization of intangible assets	824	858	2,420	11,453
Selling, general and administrative
Property, Plant and Equipment [Line Items]
Amortization of intangible assets	$ 1,530	$ 1,604	$ 4,636	$ 4,909

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Payables and Accruals [Abstract]
Accrued compensation and benefits	$ 23,398	$ 29,706
Accrued income and other taxes	11,835	8,086
Accrued warranty	3,806	2,805
Employee stock purchase plan contributions withheld	1,979	4,693
Accrued restructuring charges	0	2,478
Other accrued expenses	5,310	3,068
Accrued liabilities	$ 46,328	$ 50,836

Restructuring Charges - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
Restructuring Charges - Narrative (Details) $ in Millions	Sep. 24, 2022 USD ($)	Sep. 24, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring incurred cost		$ 11.2
Employee Severance and Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring incurred cost		1.2
Contract Termination Costs
Restructuring Cost and Reserve [Line Items]
Restructuring incurred cost		1.5
Inventory Impairments
Restructuring Cost and Reserve [Line Items]
Restructuring incurred cost	$ 5.9	8.0
Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring incurred cost		0.6
Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	10.5	10.5
Minimum \| Probe Cards
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	8.7	8.7
Minimum \| Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	1.8	1.8
Minimum \| Employee Severance and Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	1.0	1.0
Minimum \| Contract Termination Costs
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	1.5	1.5
Minimum \| Inventory Impairments
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	7.5	7.5
Minimum \| Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	0.5	0.5
Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	12.6	12.6
Maximum \| Probe Cards
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	9.7	9.7
Maximum \| Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	2.9	2.9
Maximum \| Employee Severance and Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	1.2	1.2
Maximum \| Contract Termination Costs
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	1.9	1.9
Maximum \| Inventory Impairments
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	8.5	8.5
Maximum \| Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	$ 1.0	$ 1.0

Restructuring Charges - Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 6,174	$ 4,633	$ 7,068	$ 5,267
Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	6,060	4,322	6,653	4,490
Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges	67	289	266	694
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	47	22	149	83
Probe Cards
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5,966	4,070	6,235	4,070
Probe Cards \| Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5,928	4,070	6,194	4,070
Probe Cards \| Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges	38	0	38	0
Probe Cards \| Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	3	0
Systems
Restructuring Cost and Reserve [Line Items]
Restructuring charges	208	563	833	1,197
Systems \| Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	132	252	459	420
Systems \| Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges	29	289	228	694
Systems \| Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 47	$ 22	$ 146	$ 83

Restructuring Charges - Changes to the Restructuring Accrual (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Restructuring Reserve [Roll Forward]
Accrual at beginning of period			$ 2,478
Restructuring charges	$ 6,174	$ 4,633	7,068	$ 5,267
Cash payments			(2,933)
Non-cash settlement			(6,613)
Accrual at end of period	0		0
Employee Severance and Benefits
Restructuring Reserve [Roll Forward]
Accrual at beginning of period			1,028
Restructuring charges			152
Cash payments			(1,180)
Non-cash settlement			0
Accrual at end of period	0		0
Inventory Impairments
Restructuring Reserve [Roll Forward]
Accrual at beginning of period			0
Restructuring charges			6,580
Cash payments			(31)
Non-cash settlement			(6,549)
Accrual at end of period	0		0
Property and Equipment Impairments and Move Costs
Restructuring Reserve [Roll Forward]
Accrual at beginning of period			0
Restructuring charges			292
Cash payments			(228)
Non-cash settlement			(64)
Accrual at end of period	0		0
Contract Termination Costs
Restructuring Reserve [Roll Forward]
Accrual at beginning of period			1,450
Restructuring charges			44
Cash payments			(1,494)
Non-cash settlement			0
Accrual at end of period	$ 0		$ 0

Fair Value and Derivative Instruments - Fair Value Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 31,974	$ 18,582
Marketable securities	130,991	125,055
Total assets	166,404	144,266
Total liabilities		(544)
Foreign exchange derivative contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	(2,457)
Foreign exchange derivative contracts \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability		(489)
Promissory note receivable \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	1,019
Interest rate swap derivative contracts \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	2,420	629
Derivative liability		(55)
Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	27,581	9,526
Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,398	1,000
Marketable securities	16,881
Commercial paper \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities		32,162
Corporate bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2,995
Marketable securities	69,548	52,709
U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		2,500
Marketable securities	32,820	38,985
Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	701	1,199
U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		5,556
Marketable securities	11,041
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	27,581	12,026
Marketable securities	32,820	38,985
Total assets	60,401	51,011
Total liabilities		0
Level 1 \| Foreign exchange derivative contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	0
Level 1 \| Foreign exchange derivative contracts \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability		0
Level 1 \| Promissory note receivable \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	0
Level 1 \| Interest rate swap derivative contracts \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	0	0
Derivative liability		0
Level 1 \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	27,581	9,526
Level 1 \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Marketable securities	0
Level 1 \| Commercial paper \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities		0
Level 1 \| Corporate bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0
Marketable securities	0	0
Level 1 \| U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		2,500
Marketable securities	32,820	38,985
Level 1 \| Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	0	0
Level 1 \| U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0
Marketable securities	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	4,393	6,556
Marketable securities	98,171	86,070
Total assets	104,984	93,255
Total liabilities		(544)
Level 2 \| Foreign exchange derivative contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	(2,457)
Level 2 \| Foreign exchange derivative contracts \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability		(489)
Level 2 \| Promissory note receivable \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	0
Level 2 \| Interest rate swap derivative contracts \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	2,420	629
Derivative liability		(55)
Level 2 \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Level 2 \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,398	1,000
Marketable securities	16,881
Level 2 \| Commercial paper \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities		32,162
Level 2 \| Corporate bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2,995
Marketable securities	69,548	52,709
Level 2 \| U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0
Marketable securities	0	0
Level 2 \| Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	701	1,199
Level 2 \| U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		5,556
Marketable securities	11,041
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Marketable securities	0	0
Total assets	1,019	0
Total liabilities		0
Level 3 \| Foreign exchange derivative contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	0
Level 3 \| Foreign exchange derivative contracts \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability		0
Level 3 \| Promissory note receivable \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	1,019
Level 3 \| Interest rate swap derivative contracts \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	0	0
Derivative liability		0
Level 3 \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Level 3 \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Marketable securities	0
Level 3 \| Commercial paper \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities		0
Level 3 \| Corporate bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0
Marketable securities	0	0
Level 3 \| U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0
Marketable securities	0	0
Level 3 \| Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	0	0
Level 3 \| U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		$ 0
Marketable securities	$ 0

Fair Value and Derivative Instruments - Foreign Currency Forward Contracts (Details) - Sep. 24, 2022 - Foreign Exchange Forward € in Thousands, ₩ in Thousands, ¥ in Thousands, $ in Thousands, $ in Thousands	USD ($)	EUR (€)	JPY (¥)	KRW (₩)	TWD ($)
Derivative [Line Items]
Derivative, notional amount	$ (15,838)
Buy \| Euro Dollar
Derivative [Line Items]
Derivative, notional amount	(31,087)	€ (29,215)
Buy \| Korean Won
Derivative [Line Items]
Derivative, notional amount	(603)			₩ (847,855)
Sell \| Japanese Yen
Derivative [Line Items]
Derivative, notional amount	(14,995)		¥ (2,145,851)
Sell \| Taiwan Dollar
Derivative [Line Items]
Derivative, notional amount	$ (857)				$ (27,157)

Fair Value and Derivative Instruments - Additional Information (Details) - USD ($)	Sep. 24, 2022	Dec. 25, 2021	Sep. 25, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on non-recurring basis	$ 166,404,000	$ 144,266,000
Liabilities measured at fair value on non-recurring basis		$ 544,000
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on non-recurring basis	0		$ 0
Liabilities measured at fair value on non-recurring basis	$ 0		$ 0

Warranty (Details) - USD ($) $ in Thousands	9 Months Ended
Warranty (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Sep. 25, 2021
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 2,805	$ 3,918
Accruals	5,653	4,688
Settlements	(4,652)	(5,803)
Balance at end of period	$ 3,806	$ 2,803

Property, Plant, and Equipment, net (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Property, Plant and Equipment [Line Items]
Sub-total	$ 453,400	$ 433,331
Less: Accumulated depreciation and amortization	(327,884)	(312,700)
Net, property, plant and equipment	125,516	120,631
Construction-in-process	37,868	25,924
Total	163,384	146,555
Land
Property, Plant and Equipment [Line Items]
Sub-total	4,751	4,751
Building and building improvements
Property, Plant and Equipment [Line Items]
Sub-total	44,447	41,722
Machinery and equipment
Property, Plant and Equipment [Line Items]
Sub-total	267,612	252,632
Computer equipment and software
Property, Plant and Equipment [Line Items]
Sub-total	45,533	44,667
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Sub-total	7,375	7,293
Leasehold improvements
Property, Plant and Equipment [Line Items]
Sub-total	$ 83,682	$ 82,266

Stockholders’ Equity and Stock-Based Compensation - Additional Information (Details) - USD ($)		3 Months Ended		9 Months Ended
	Aug. 01, 2022	Sep. 24, 2022	Mar. 26, 2022	Sep. 24, 2022	Sep. 25, 2021	Sep. 28, 2019	May 23, 2022	Oct. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of common stock value retired through repurchase program		$ 19,150,000		$ 73,478,000	$ 23,951,000
2019 PRSU Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)				110,605
Total return (percent)				147.00%
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	204,903
Fair value of awards granted	$ 8,600,000
PRSUs \| 2019 PRSU Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)						273,000
Forfeited (in shares)				36,000
Vested (in shares)				237,000
Common Stock \| October 2020 Stock Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program authorized amount								$ 50,000,000
Purchase of common stock retired through repurchase program (in shares)			622,400	676,408
Purchase of common stock value retired through repurchase program			$ 24,000,000	$ 26,000,000
Common Stock \| May 2022 Stock Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program authorized amount							$ 75,000,000
Purchase of common stock retired through repurchase program (in shares)				1,335,414
Purchase of common stock value retired through repurchase program				$ 47,500,000
Amount remaining for future repurchases		$ 27,500,000		$ 27,500,000

Stockholders’ Equity and Stock-Based Compensation - Restricted Stock Unit Activity (Details)	9 Months Ended
	Sep. 24, 2022 $ / shares shares
Equity Incentive Plan \| Restricted Stock Units
Units
Beginning balance (in shares)	2,166,934
Awards granted (in shares)	1,338,278
Awards vested (in shares)	(1,133,782)
Awards canceled (in shares)	(66,279)
Ending balance (in shares)	2,305,151
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 28.63
Awards granted (in dollars per share) \| $ / shares	34.95
Awards vested (in dollars per share) \| $ / shares	22.45
Awards canceled (in dollars per share) \| $ / shares	31.07
Ending balance (in dollars per share) \| $ / shares	$ 35.27
2019 PRSU Grant
Units
Awards granted (in shares)	110,605

Stockholders’ Equity and Stock-Based Compensation - ESPP Activity (Details) - Employee stock purchase plan	9 Months Ended
	Sep. 24, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares) \| shares	316,861
Weighted average per share purchase price (in dollars per share)	$ 33.00
Weighted average per share discount from the fair value of our common stock on the date of issuance (in dollars per share)	$ (6.13)

Stockholders’ Equity and Stock-Based Compensation - Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 7,995	$ 7,920	$ 21,873	$ 21,585
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	1,022	1,392	2,834	3,806
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	2,027	2,010	5,708	5,362
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 4,946	$ 4,518	$ 13,331	$ 12,417

Stockholders’ Equity and Stock-Based Compensation - Unrecognized Compensation Costs (Details) $ in Thousands	9 Months Ended
	Sep. 24, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 70,805
Average Expected Recognition Period in Years	2 years 3 months
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 54,872
Average Expected Recognition Period in Years	2 years 3 months 21 days
Performance restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 14,239
Average Expected Recognition Period in Years	2 years 3 months
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 1,694
Average Expected Recognition Period in Years	4 months 9 days

Net Income per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
Net Income per Share (Details) - shares shares in Thousands	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Earnings Per Share [Abstract]
Weighted-average shares used in computing basic net income per share (in shares)	77,245	77,869	77,796	77,643
Add potentially dilutive securities (in shares)	443	1,160	696	1,547
Weighted-average shares used in computing diluted net income per share (in shares)	77,688	79,029	78,492	79,190
Securities not included as they would have been antidilutive (in shares)	897	121	266	109

Leases - Narrative (Details)	Sep. 24, 2022
Lessee, Lease, Description [Line Items]
Operating lease, renewal term	20 years
Operating lease, weighted average remaining lease term	5 years
Operating lease, weighted average discount rate	3.75%
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	6 years
Automobiles \| Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	1 year
Automobiles \| Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	3 years

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Leases [Abstract]
Operating lease expense	$ 2,118	$ 2,167	$ 6,522	$ 6,338
Short-term lease expense	135	51	251	133
Variable lease expense	590	461	1,725	1,424
Total lease expense	$ 2,843	$ 2,679	$ 8,498	$ 7,895

Leases - Schedule of Future Minimum Payments Under Leases (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Leases [Abstract]
Remainder of 2022	$ 4,275
2023	7,545
2024	7,236
2025	7,170
2026	6,450
Thereafter	9,042
Total minimum lease payments	41,718
Less: interest	(6,161)
Present value of net minimum lease payments	35,557
Less: current portion	(7,699)	$ (7,901)
Total long-term operating lease liabilities	$ 27,858	$ 31,009

Revenue - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 24, 2022	Dec. 25, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 8.3
Contract assets	3.0	$ 0.9
Contract with customer, liability	33.1	$ 24.2
Revenue recognized included in contracts	$ 19.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-09-25
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	40.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	49.80%
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	10.20%
Revenue, remaining performance obligation, expected timing of satisfaction, period

Operating Segments and Enterprise-Wide Information - Additional Information (Details)	9 Months Ended
	Sep. 24, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Operating Segments and Enterprise-Wide Information - Operating Results by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Segment Reporting Information [Line Items]
Revenues	$ 180,869	$ 189,964	$ 581,950	$ 564,676
Gross profit	$ 62,213	$ 80,219	$ 250,806	$ 233,208
Gross margin	34.40%	42.20%	43.10%	41.30%
Probe Cards
Segment Reporting Information [Line Items]
Revenues	$ 139,365	$ 154,850	$ 467,056	$ 467,389
Systems
Segment Reporting Information [Line Items]
Revenues	41,504	35,114	114,894	97,287
Operating segments \| Probe Cards
Segment Reporting Information [Line Items]
Revenues	139,365	154,850	467,056	467,389
Gross profit	$ 48,252	$ 69,868	$ 203,874	$ 206,783
Gross margin	34.60%	45.10%	43.70%	44.20%
Operating segments \| Systems
Segment Reporting Information [Line Items]
Revenues	$ 41,504	$ 35,114	$ 114,894	$ 97,287
Gross profit	$ 22,284	$ 17,553	$ 59,967	$ 48,059
Gross margin	53.70%	50.00%	52.20%	49.40%
Operating segments \| Corporate and Other
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0
Gross profit	$ (8,323)	$ (7,202)	$ (13,035)	$ (21,634)
Gross margin

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

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- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Operating Segments and Enterprise-Wide Information - Revenue by Segment, Recognition Type, and Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 180,869	$ 189,964	$ 581,950	$ 564,676
Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	139,365	154,850	467,056	467,389
Systems
Disaggregation of Revenue [Line Items]
Revenues	41,504	35,114	114,894	97,287
United States
Disaggregation of Revenue [Line Items]
Revenues	38,089	25,468	94,978	87,604
United States \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	25,909	18,530	67,424	64,012
United States \| Systems
Disaggregation of Revenue [Line Items]
Revenues	12,180	6,938	27,554	23,592
Taiwan
Disaggregation of Revenue [Line Items]
Revenues	36,838	41,574	139,927	139,038
Taiwan \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	32,227	34,100	119,937	125,571
Taiwan \| Systems
Disaggregation of Revenue [Line Items]
Revenues	4,611	7,474	19,990	13,467
China
Disaggregation of Revenue [Line Items]
Revenues	36,728	51,047	124,862	125,499
China \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	27,973	46,011	101,342	107,838
China \| Systems
Disaggregation of Revenue [Line Items]
Revenues	8,755	5,036	23,520	17,661
South Korea
Disaggregation of Revenue [Line Items]
Revenues	28,937	28,972	85,193	84,234
South Korea \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	28,118	27,895	80,417	81,322
South Korea \| Systems
Disaggregation of Revenue [Line Items]
Revenues	819	1,077	4,776	2,912
Europe
Disaggregation of Revenue [Line Items]
Revenues	11,798	10,486	28,284	32,495
Europe \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	3,682	3,595	9,888	12,894
Europe \| Systems
Disaggregation of Revenue [Line Items]
Revenues	8,116	6,891	18,396	19,601
Singapore
Disaggregation of Revenue [Line Items]
Revenues	10,357	7,552	28,361	26,072
Singapore \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	7,983	6,841	23,398	23,070
Singapore \| Systems
Disaggregation of Revenue [Line Items]
Revenues	2,374	711	4,963	3,002
Japan
Disaggregation of Revenue [Line Items]
Revenues	7,692	10,728	27,011	27,753
Japan \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	4,533	5,767	16,034	14,493
Japan \| Systems
Disaggregation of Revenue [Line Items]
Revenues	3,159	4,961	10,977	13,260
Malaysia
Disaggregation of Revenue [Line Items]
Revenues	6,509	11,633	44,952	34,758
Malaysia \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	6,272	11,353	43,946	34,275
Malaysia \| Systems
Disaggregation of Revenue [Line Items]
Revenues	237	280	1,006	483
Rest of the world
Disaggregation of Revenue [Line Items]
Revenues	3,921	2,504	8,382	7,223
Rest of the world \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	2,668	758	4,670	3,914
Rest of the world \| Systems
Disaggregation of Revenue [Line Items]
Revenues	1,253	1,746	3,712	3,309
Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	176,444	187,781	570,478	554,941
Products transferred at a point in time \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	138,602	154,217	464,139	465,822
Products transferred at a point in time \| Systems
Disaggregation of Revenue [Line Items]
Revenues	37,842	33,564	106,339	89,119
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	4,425	2,183	11,472	9,735
Products and services transferred over time \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	763	633	2,917	1,567
Products and services transferred over time \| Systems
Disaggregation of Revenue [Line Items]
Revenues	3,662	1,550	8,555	8,168
Foundry & Logic
Disaggregation of Revenue [Line Items]
Revenues	90,605	104,640	327,106	321,776
Foundry & Logic \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	90,605	104,640	327,106	321,776
Foundry & Logic \| Systems
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
DRAM
Disaggregation of Revenue [Line Items]
Revenues	34,922	39,816	106,202	115,802
DRAM \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	34,922	39,816	106,202	115,802
DRAM \| Systems
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Flash
Disaggregation of Revenue [Line Items]
Revenues	13,838	10,394	33,748	29,811
Flash \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	13,838	10,394	33,748	29,811
Flash \| Systems
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Systems
Disaggregation of Revenue [Line Items]
Revenues	41,504	35,114	114,894	97,287
Systems \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Systems \| Systems
Disaggregation of Revenue [Line Items]
Revenues	$ 41,504	$ 35,114	$ 114,894	$ 97,287

Subsequent Event (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
Subsequent Event (Details) - USD ($) $ in Thousands	Oct. 25, 2022	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Subsequent Event [Line Items]
Restructuring charges		$ 6,174	$ 4,633	$ 7,068	$ 5,267
Employee Severance
Subsequent Event [Line Items]
Restructuring charges				$ 152
Subsequent Event \| Employee Severance
Subsequent Event [Line Items]
Percent of workforce eliminated	13.00%
Restructuring charges	$ 6,600
Subsequent Event \| Employee Severance \| Minimum
Subsequent Event [Line Items]
Annual expected decrease in cost structure due to restructuring	25,000
Subsequent Event \| Employee Severance \| Maximum
Subsequent Event [Line Items]
Annual expected decrease in cost structure due to restructuring	$ 30,000