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FormFactor and Teradyne announce strategic collaboration to accelerate next-generation semiconductor testing. Companies to combine leadership in probe, interface, and test technologies to accelerate AI and high-performance compute deployments. LIVERMORE, Calif., Oct. 12, 2026 (GLOBE NEWSWIRE) - FormFactor, Inc. (Nasdaq: FORM), a leading provider of semiconductor test and measurement technologies, and Teradyne, Inc. (Nasdaq: TER), a leading provider of automated test equipment and advanced robotics, today announced the two companies have entered into a broad technology collaboration aimed at accelerating the development, validation, and high-volume production deployment of next-generation semiconductor devices. In addition, Teradyne has agreed to purchase shares of FormFactor common stock. The collaboration brings together FormFactor's industry-leading expertise in probe technologies, interface solutions, test engineering, and device characterization with Teradyne's advanced automated test platforms to help customers address growing semiconductor complexity. Together, the companies will partner to advance semiconductor test architectures, optimize test infrastructure, and enhance production readiness for existing and emerging applications, including high-performance compute (HPC), advanced packaging, high-bandwidth memory (HBM), and silicon photonics. "The semiconductor industry is entering a period where test performance, scalability, and time-to-market are becoming decisive competitive advantages," said Mike Slessor, Chief Executive Officer of FormFactor. "By combining FormFactor's deep expertise in device characterization, probing, interfaces, and production test solutions with Teradyne's test platforms, we can help customers accelerate innovation and move more efficiently from technology development to high-volume manufacturing." "The most demanding test challenges in advanced packaging, silicon photonics, and memory can't be solved by a single company," said Gregory Smith, President and Chief Executive Officer of Teradyne. "By investing in FormFactor and combining our leading-edge test platforms with FormFactor's probe and interface expertise, we're building a more complete, validated path to production for our shared customers, and reinforcing our commitment to an open, interoperable ecosystem." The companies believe the collaboration will accelerate innovation across the semiconductor test ecosystem from wafer to data center, expand opportunities for joint customer engagement, and support increasing demand for advanced computing, AI infrastructure, and next-generation semiconductor technologies. Under the terms of the agreement, Teradyne has agreed to make a $300 million strategic equity investment. The transaction is subject to customary closing conditions and regulatory approvals. Safe Harbor Statement This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws, including statements regarding the expected benefits and anticipated results of the collaboration between Teradyne and FormFactor, and the anticipated timing and consummation of Teradyne's investment in FormFactor. Investors are cautioned that such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements due to known and unknown risks, uncertainties, assumptions, and other factors. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and Teradyne and FormFactor disclaim any obligation to update these forward-looking statements to reflect future events or circumstances. About FormFactor FormFactor, Inc. (Nasdaq: FORM) is a leading provider of essential test and measurement technologies along the full IC life cycle - from characterization, modeling, reliability, and design de-bug to qualification and production test. Semiconductor companies rely upon FormFactor's products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit www.formfactor.com Investor Relations Contact for FormFactor, Inc. Stan Finkelstein Investor Relations (925) 290-4273 [email protected] About Teradyne Teradyne (Nasdaq: TER) designs, develops, and manufactures automated test equipment and advanced robotics systems. Its semiconductor and electronics test solutions span the full AI device supply chain, from wafer to data center, enabling customers to meet the quality and reliability standards the AI era demands. Its advanced robotics business deploys intelligent automation across manufacturing, logistics, and data center operations for customers worldwide. For more information, visit www.teradyne.com.Teradyne(R) is a registered trademark of Teradyne, Inc., in the U.S. and other countries. Investor Relations Contact for Teradyne, Inc.

FormFactor announces participation in 18th Annual CEO Investor Summit 2026. GlobeNewswire | FormFactor, Inc. Today at 1:01pm PDT LIVERMORE, Calif., Sept. 30, 2026 (GLOBE NEWSWIRE) - FormFactor, Inc. (NASDAQ: FORM), today announced management's participation in the 18th Annual CEO Investor Summit 2026, being held Tuesday, October 13th at the St. Regis Hotel in San Francisco, California. The presentation material utilized during the CEO Investor Summit will be made accessible on the events page of the Company's website at www.formfactor.com. About the 18th Annual CEO Investor Summit 2026 The CEO Investor Summit is held annually each year during the SEMICON West industry trade show. Collectively hosted and funded by participating companies, the CEO Investor Summit features a "round-robin" format consisting of small group meetings with company management teams. During the event, investors and analysts will have the opportunity to meet with the majority of the 11 management teams during the small group meeting sessions and networking events. The 11 management teams collectively hosting the 18th Annual CEO Investor Summit 2026 include: ACM Research (ACMR), Aehr Test Systems (AEHR), Alpha & Omega Semiconductor (AOSL), Cohu, Inc. (COHU), FormFactor (FORM), Ichor Systems (ICHR), InTEST Corporation (INTT), Kulicke & Soffa (KLIC), Photronics (PLAB), QuickLogic (QUIK) and SkyWater Technology (SKYT), an IonQ company (IONQ). B. Riley Securities, Jefferies and Stifel are sponsors of the conference. Attendance at the CEO Investor Summit is by invitation only and is available solely to accredited investors and publishing research analysts. As space is limited, please RSVP early. Hosts reserve the right to limit attendance as necessary. Last day for registration is October 2, 2026. RSVP Contacts for 18th Annual CEO Investor Summit 2026 To RSVP for the CEO Investor Summit, please visit the CEO Summit Events website or contact either of the event co-chairs: Laura J. Guerrant-Oiye Phone: (808) 960-2642 Email: [email protected] About FormFactor: FormFactor, Inc. (NASDAQ: FORM), is a leading provider of essential test and measurement technologies along the full IC life cycle - characterization, modeling, reliability, and design de-bug, to qualification and production test. Semiconductor companies rely upon FormFactor's products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit the Company's website at www.formfactor.com. Investor Contact: Stan Finkelstein Investor Relations (925) 290-4321 [email protected] This is a paid placement. For further inquiries, please contact GlobeNewswire directly.

FormFactor reports 30% revenue growth with SK Hynix HBM partnership. 2026-09-26 02:34:49 Key takeaways. * FormFactor jointly presented advanced HBM testing technology with SK Hynix in June at SWTest conference in California. * FormFactor generated 30% of its revenue from SK Hynix, reporting Q2 revenue of $258.2 million, up 31.9% year-over-year. * FormFactor announced 2030 targets of $1.6 billion revenue, 55% gross margin, and $5 EPS at May 11 investor presentation. FormFactor, a US-listed semiconductor testing equipment manufacturer, jointly presented advanced HBM testing technology with SK Hynix in June at the SWTest conference in California. The Livermore, California-based company generates 30% of its revenue from SK Hynix and supplies probe cards to all major semiconductor manufacturers including NVIDIA, TSMC, Samsung Electronics, Micron, and Intel. The collaboration addresses a critical challenge in HBM4 production: stacking 16 DRAM layers requires flawless pre-stacking inspection, as a single defective layer ruins the entire finished product. FormFactor's probe cards use tens of thousands of micro-needles thinner than human hair to simultaneously test electrical connectivity on wafer-level semiconductor chips. The company reported Q2 revenue of $258.2 million in July, marking the fourth consecutive quarter of 30%+ growth, driven by accelerating HBM4 adoption and AI accelerator demand. FormFactor develops micro-spring technology for semiconductor testing. FormFactor was founded in April 1993 in Elmsford, New York by Igor Khandros, a Ukrainian immigrant who studied metallurgy at Kyiv Polytechnic Institute and earned a PhD in metallurgy from Stevens Institute of Technology in New Jersey. After working at IBM's Yorktown research lab on semiconductor packaging technology, Khandros identified a critical inefficiency: semiconductor manufacturers could only detect defective chips after cutting and packaging them, wasting packaging costs on faulty units. He developed MicroSpring technology, which uses semiconductor fabrication processes to create tens of thousands of micro-springs in a single step, matching the electrode layout of wafers. The spring structure allows the needles to bounce back tens of thousands of times without breaking. The company moved its headquarters to Livermore in 1995 and went public on NASDAQ in June 2003 at $14 per share, rising 36% on the first day. Intel and Samsung Electronics were among the company's first customers, with first-year revenue reaching $1.1 million. By 2001, FormFactor achieved $73.4 million in revenue and became the world's #1 probe card manufacturer. SK Hynix partnership focuses on HBM thermal testing solutions. FormFactor and SK Hynix jointly presented the FormFactor Thermal Simulation Model (FTSM) in June, addressing thermal challenges in HBM testing. HBM stacks DRAM layers with micro-bumps, fillers, and molding resin between them, each material expanding differently under temperature changes. High-temperature and low-temperature testing causes electrode positions to shift microscopically, and high currents concentrate heat in specific areas. If needles miss electrodes, functional chips may be discarded as defective or defects may go undetected. The FTSM calculates how much the card will warp when temperature changes and pre-adjusts needle positions during manufacturing. FormFactor verified the technology with a 60,000-needle card, confirming alignment maintained at both high and low temperatures with predicted and measured values matching. The company received SK Hynix's Best Partner Award in 2024 and ranked first in test subsystems and specialized equipment categories in a May semiconductor manufacturer supplier satisfaction survey conducted by TechInsights, marking the 13th consecutive year as #1 in the test category. FormFactor shipped its 1,000th HBM probe card in 2025 and surpassed 1,500 shipments this year since first shipping HBM probe cards in 2012. FormFactor reports fourth consecutive quarter of 30% revenue growth. FormFactor's Q2 revenue reached $258.2 million, up 31.9% year-over-year and a quarterly record. Adjusted gross margin reached 53.3%, up from 38.5% a year earlier, and adjusted EPS of $0.82 tripled from the previous year. Within the probe card segment, DRAM revenue grew 70% to $82.9 million in Q1, with two-thirds attributed to HBM. Foundry and logic probe card revenue increased 30% to $111.2 million. The test systems segment surged 74% to $48.5 million in Q2. CPO testing revenue is expected to exceed the initial forecast of $10-20 million by Q3. By region, South Korea accounted for 35.6% of Q1 revenue. SK Hynix's share of total revenue jumped to 29.5% from 19.2% in Q4 of the previous year, while NVIDIA became a 10% customer for the first time at 10.2% in Q1. China's share declined from 14% two years ago to 7% last year due to expanded US export restrictions. Annual revenue figures are: $763.6 million in 2024, $785 million in 2025, and $484.3 million in the first half of 2026. Q3 guidance includes revenue of $270 million, adjusted gross margin of 54%, and EPS of $0.86. The company holds $345.7 million in cash and securities with long-term debt of only $10.5 million, operating essentially debt-free. Company targets $1.6 billion revenue and $5 EPS by 2030. FormFactor presented its 2030 targets at an investor presentation held in New York on May 11. The company aims for $1.6 billion in revenue (double 2025 levels), 55% gross margin, $5 EPS, and 5x operating income growth. The targets are based on increasing HBM stack counts, rising power and speed requirements for GPUs and custom AI chips, and the emergence of the CPO testing market. The company projects its addressable market will grow from $3.1 billion in 2025 to $4.5 billion in 2030 at an 8% annual rate, while planning to grow its own revenue at twice that pace to reach 36% market share. To support this growth, FormFactor is building a new factory in Farmers Branch, Texas, scheduled to start production at the end of this year, ramp up production volume in Q1 of next year, and contribute to profit margins starting in 2028. Capital expenditure for this year is $140-170 million. The company employed 2,153 people as of the end of last year, including 1,298 in production and 422 in R&D. Management consists of executives from KLA, ASML, AMD, Onto, and Texas Instruments. The average target price from 11 Wall Street analysts is $127.45. The stock closed at $129.69 on the 25th, already exceeding the average target. The stock reached $160.27 on June 30 before declining 19%. The company stated in its Q2 conference call that supply chain constraints are limiting production capacity expansion and preventing it from accepting all new CPU customer orders. Growth will remain constrained by production capacity until the Texas factory reaches full operation in 2027. Faq. What technology does FormFactor use to test semiconductor chips? FormFactor uses MicroSpring technology, which employs semiconductor fabrication processes to create tens of thousands of micro-springs in a single step that match wafer electrode layouts. These micro-needles, thinner than human hair, simultaneously test electrical connectivity on wafer-level chips. The spring structure allows needles to bounce back tens of thousands of times without breaking, enabling repeated testing before chips are cut and packaged. What percentage of FormFactor's revenue comes from SK Hynix? SK Hynix accounts for 30% of FormFactor's total revenue. In Q1 of 2026, SK Hynix's share increased to 29.5% from 19.2% in Q4 of the previous year. FormFactor supplies probe cards to SK Hynix for HBM production and jointly presented thermal testing technology with the company in June at the SWTest conference in California. What are FormFactor's financial targets for 2030? FormFactor announced at a May 11 investor presentation that it targets $1.6 billion in revenue by 2030, double its 2025 level of $785 million. The company also aims for 55% gross margin, $5 earnings per share, and 5x operating income growth. These targets are based on increasing HBM stack counts, rising GPU power and speed requirements, and growth in the CPO testing market. 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