| FORMFACTOR, INC. | |||||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||||||
| (In thousands) | |||||||||||
| (Unaudited) | |||||||||||
|
July 1,
2023 |
April 1,
2023 |
December 31,
2022 | |||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 97,981 | $ | 112,360 | $ | 109,130 | |||||
| Marketable securities | 138,943 | 123,891 | 129,006 | ||||||||
| Accounts receivable, net of allowance for credit losses | 94,013 | 103,969 | 88,143 | ||||||||
| Inventories, net | 120,298 | 116,553 | 123,157 | ||||||||
| Restricted cash | 1,144 | 1,207 | 1,221 | ||||||||
| Prepaid expenses and other current assets | 25,876 | 22,941 | 23,895 | ||||||||
| Total current assets | 478,255 | 480,921 | 474,552 | ||||||||
| Restricted cash | 2,265 | 2,287 | 2,631 | ||||||||
| Operating lease, right-of-use-assets | 31,001 | 30,420 | 31,362 | ||||||||
| Property, plant and equipment, net of accumulated depreciation | 204,577 | 198,232 | 189,848 | ||||||||
| Goodwill | 211,929 | 211,773 | 211,444 | ||||||||
| Intangibles, net | 22,149 | 24,486 | 26,751 | ||||||||
| Deferred tax assets | 71,172 | 67,951 | 67,646 | ||||||||
| Other assets | 3,790 | 3,686 | 3,994 | ||||||||
| Total assets | $ | 1,025,138 | $ | 1,019,756 | $ | 1,008,228 | |||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 63,770 | $ | 63,756 | $ | 69,308 | |||||
| Accrued liabilities | 31,413 | 31,981 | 42,115 | ||||||||
| Current portion of term loan, net of unamortized issuance costs | 1,150 | 1,142 | 1,045 | ||||||||
| Deferred revenue | 19,899 | 23,779 | 29,846 | ||||||||
| Operating lease liabilities | 7,871 | 7,512 | 7,353 | ||||||||
| Total current liabilities | 124,103 | 128,170 | 149,667 | ||||||||
| Term loan, less current portion, net of unamortized issuance costs | 13,765 | 14,034 | 14,389 | ||||||||
| Deferred tax liabilities | 2,704 | 2,905 | 2,732 | ||||||||
| Long-term operating lease liabilities | 26,458 | 26,407 | 27,587 | ||||||||
| Deferred grant | 18,000 | 18,000 | — | ||||||||
| Other liabilities | 5,845 | 5,868 | 5,568 | ||||||||
| Total liabilities | 190,875 | 195,384 | 199,943 | ||||||||
| Stockholders’ equity: | |||||||||||
| Common stock | 77 | 77 | 77 | ||||||||
| Additional paid-in capital | 867,517 | 858,195 | 844,842 | ||||||||
| Accumulated other comprehensive loss | (4,445 | ) | (4,186 | ) | (5,578 | ) | |||||
| Accumulated deficit | (28,886 | ) | (29,714 | ) | (31,056 | ) | |||||
| Total stockholders’ equity | 834,263 | 824,372 | 808,285 | ||||||||
| Total liabilities and stockholders’ equity | $ | 1,025,138 | $ | 1,019,756 | $ | 1,008,228 | |||||
About our Non-GAAP Financial Measures:
