FormFactor (FORM) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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		77,842,001
Amendment Flag	false
Entity Central Index Key	0001039399
Current Fiscal Year End Date	--12-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 108,731	$ 109,130
Marketable securities	135,693	129,006
Accounts receivable, net of allowance for credit losses of $500 and $168	88,965	88,143
Inventories, net	111,626	123,157
Restricted cash	1,171	1,221
Assets held-for-sale	33,718	0
Prepaid expenses and other current assets	26,681	23,895
Total current assets	506,585	474,552
Restricted cash	2,146	2,631
Operating lease, right-of-use-assets	29,824	31,362
Property, plant and equipment, net of accumulated depreciation	203,510	189,848
Goodwill	200,485	211,444
Intangibles, net	13,578	26,751
Deferred tax assets	73,572	67,646
Other assets	3,267	3,994
Total assets	1,032,967	1,008,228
Current liabilities:
Accounts payable	61,589	69,308
Accrued liabilities	36,487	42,115
Current portion of term loan, net of unamortized issuance costs	1,067	1,045
Deferred revenue	13,855	29,846
Liabilities held-for-sale	8,521	0
Operating lease liabilities	8,007	7,353
Total current liabilities	129,526	149,667
Term loan, less current portion, net of unamortized issuance costs	13,586	14,389
Deferred tax liabilities	317	2,732
Long-term operating lease liabilities	25,096	27,587
Deferred grant	18,000	0
Other liabilities	5,754	5,568
Total liabilities	192,279	199,943
Stockholders’ equity:
Common stock, $0.001 par value	78	77
Additional paid-in capital	873,634	844,842
Accumulated other comprehensive loss	(8,509)	(5,578)
Accumulated deficit	(24,515)	(31,056)
Total stockholders’ equity	840,688	808,285
Total liabilities and stockholders’ equity	$ 1,032,967	$ 1,008,228

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 500	$ 168
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)	77,839,317	76,914,590
Common stock, shares outstanding (in shares)	77,839,317	76,914,590

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Income Statement [Abstract]
Revenues	$ 171,575	$ 180,869	$ 494,939	$ 581,950
Cost of revenues	102,290	118,656	304,293	331,144
Gross profit	69,285	62,213	190,646	250,806
Operating expenses:
Research and development	31,014	26,549	87,599	82,000
Selling, general and administrative	35,564	31,637	101,561	97,949
Total operating expenses	66,578	58,186	189,160	179,949
Operating income	2,707	4,027	1,486	70,857
Interest income, net	1,662	557	4,420	684
Other income, net	788	1,041	1,261	1,784
Income before income taxes	5,157	5,625	7,167	73,325
Provision for income taxes	786	1,274	626	8,860
Net income	$ 4,371	$ 4,351	$ 6,541	$ 64,465
Net income per share:
Basic (in dollars per share)	$ 0.06	$ 0.06	$ 0.08	$ 0.83
Diluted (in dollars per share)	$ 0.06	$ 0.06	$ 0.08	$ 0.82
Weighted-average number of shares used in per share calculations:
Basic (in shares)	77,571	77,245	77,265	77,796
Diluted (in shares)	78,412	77,688	77,860	78,492

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 4,371	$ 4,351	$ 6,541	$ 64,465
Other comprehensive loss, net of tax:
Translation adjustments	(3,351)	(7,348)	(2,641)	(13,902)
Unrealized gains (losses) on available-for-sale marketable securities	283	(674)	801	(2,425)
Unrealized losses on derivative instruments	(996)	(881)	(1,091)	(123)
Other comprehensive loss, net of tax:	(4,064)	(8,903)	(2,931)	(16,450)
Comprehensive income (loss)	$ 307	$ (4,552)	$ 3,610	$ 48,015

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Dec. 25, 2021		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
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	$ 0	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
Ending balance at Sep. 24, 2022	$ 808,302	$ 77	843,453	(17,899)	(17,329)
Beginning balance (in shares) at Dec. 31, 2022	76,914,590	76,914,590
Beginning balance at Dec. 31, 2022	$ 808,285	$ 77	844,842	(5,578)	(31,056)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under the Employee Stock Purchase Plan (in shares)		363,190
Issuance of common stock under the Employee Stock Purchase Plan	8,822		8,822
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax (in shares)		561,537
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax	(9,349)	$ 1	(9,350)
Stock-based compensation	29,320		29,320
Other comprehensive income (loss)	(2,931)			(2,931)
Net income	$ 6,541				6,541
Ending balance (in shares) at Sep. 30, 2023	77,839,317	77,839,317
Ending balance at Sep. 30, 2023	$ 840,688	$ 78	873,634	(8,509)	(24,515)
Beginning balance (in shares) at Jul. 01, 2023		77,184,012
Beginning balance at Jul. 01, 2023	834,263	$ 77	867,517	(4,445)	(28,886)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under the Employee Stock Purchase Plan (in shares)		153,135
Issuance of common stock under the Employee Stock Purchase Plan	3,798		3,798
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax (in shares)		502,170
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax	(8,893)	$ 1	(8,894)
Stock-based compensation	11,213		11,213
Other comprehensive income (loss)	(4,064)			(4,064)
Net income	$ 4,371				4,371
Ending balance (in shares) at Sep. 30, 2023	77,839,317	77,839,317
Ending balance at Sep. 30, 2023	$ 840,688	$ 78	$ 873,634	$ (8,509)	$ (24,515)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022
Cash flows from operating activities:
Net income	$ 6,541	$ 64,465
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	22,880	21,189
Amortization	6,043	7,056
Reduction in the carrying amount of right-of-use assets	5,556	5,900
Stock-based compensation expense	29,333	21,873
Deferred income tax benefit	(6,283)	(6,881)
Provision for excess and obsolete inventories	12,566	16,078
Other adjustments to reconcile net income to net cash provided by operating activities	1,375	4,066
Changes in assets and liabilities:
Accounts receivable	(7,796)	1,654
Inventories	(8,910)	(33,023)
Prepaid expenses and other current assets	(1,761)	(2,016)
Other assets	804	(117)
Accounts payable	474	17,613
Accrued liabilities	(5,268)	(5,035)
Other liabilities	467	276
Deferred revenues	(12,915)	3,776
Deferred grant	18,000
Operating lease liabilities	(5,754)	(5,826)
Net cash provided by operating activities	55,352	111,048
Cash flows from investing activities:
Acquisition of property, plant and equipment	(46,094)	(39,024)
Acquisition of business	0	3,350
Purchases of marketable securities	(96,913)	(80,249)
Purchase of promissory note receivable	0	(1,000)
Proceeds from maturities and sales of marketable securities	93,013	71,610
Net cash used in investing activities	(49,994)	(52,013)
Cash flows from financing activities:
Proceeds from issuances of common stock	8,822	10,499
Purchase of common stock through stock repurchase program	0	(73,478)
Tax withholdings related to net share settlements of equity awards	(9,349)	(15,564)
Principal repayments on term loans	(781)	(6,421)
Net cash used in financing activities	(1,308)	(84,964)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(3,324)	(5,708)
Net increase (decrease) in cash, cash equivalents and restricted cash	726	(31,637)
Cash, cash equivalents and restricted cash, beginning of period	112,982	155,342
Cash, cash equivalents and restricted cash, end of period	113,708	123,705
Non-cash investing and financing activities:
Increase (decrease) in accounts payable and accrued liabilities related to property, plant and equipment purchases	(6,222)	341
Operating lease, right-of-use assets obtained in exchange for lease obligations	4,728	3,457
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net	12,064	9,911
Cash paid for interest	317	455
Operating cash outflows from operating leases	6,836	6,670
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	108,731	120,602
Restricted cash, current	1,171	1,263
Restricted cash, non-current	2,146	1,840
Cash and cash equivalents included in Assets held-for-sale	1,660	0
Total cash, cash equivalents and restricted cash	$ 113,708	$ 123,705

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies 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 2022 Annual Report on Form 10-K filed with the SEC on February 24, 2023. 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 2023 and 2022 contain 52 weeks and 53 weeks, respectively, and the nine months ended September 30, 2023 and September 24, 2022 each contained 39 weeks. Fiscal 2023 will end on December 30, 2023. Significant Accounting Policies Our significant accounting policies have not changed during the nine months ended September 30, 2023 from those disclosed in our Annual Report on Form 10-K for the year ended December 31, 2022, except for: Government Assistance In January 2023, we received $18.0 million in cash from a California Competes Grant (the “Grant”) awarded from the California Governor’s Office of Business and Economic Development. The Grant requires FormFactor to create and maintain full-time jobs and make significant infrastructure investments within California over a 5-year term. If we do not meet the requirements of the Grant, we will be required to repay all or a portion of the Grant. The Grant is included in our Condensed Consolidated Balance Sheets within Deferred grant and we have elected to recognize the Grant when earned as an offset to Cost of revenues and Operating expenses within our Condensed Consolidated Statements of Income. We have presented the proceeds from the Grant as cash provided by operating activities within our Condensed Consolidated Statements of Cash Flows as the Grant is to offset operations. New Accounting Pronouncements Reference Rate Reform In March 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU provides temporary optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference the London Interbank Offered Rate (“LIBOR“) or another reference rate expected to be discontinued. In December 2022, the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848,” extending the relief offered in Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the optional expedients in Topic 848. In May 2023, the Company entered into a rate replacement amendment to its credit facility loan agreement to replace LIBOR with the Secured Overnight Financing Rate (“SOFR”) and concurrently signed an amendment to modify the floating rate option on its interest rate swap to match that of the debt. The Company applied practical expedients provided in Topic 848 allowing the modified instrument to be accounted for and presented in the same manner as the instrument existing before the modification. These modifications had no significant impact on our financial statements. Refer to Note 7, Debt, for further information regarding the terms of the credit facility loan agreement and interest rate swap agreement. Reclassifications Certain immaterial reclassifications were made to the prior year financial statements to conform to the current year presentation.

Concentration of Credit and Oth

Concentration of Credit and Other Risks	9 Months Ended
	Sep. 30, 2023
Risks and Uncertainties [Abstract]
Concentration of Credit and Other Risks	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 30, September 24, September 30, September 24, Intel Corporation 17.1 % 17.0 % 17.2 % 19.7 % Samsung Electronics., LTD. 11.2 % * * * SK Hynix Inc. * 10.7 % * * 28.3 % 27.7 % 17.2 % 19.7 %

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories, net	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 30, December 31, Raw materials $ 50,641 $ 55,726 Work-in-progress 40,150 46,067 Finished goods 20,835 21,364 $ 111,626 $ 123,157

Assets Held-For-Sale Divestitur

Assets Held-For-Sale Divestiture	9 Months Ended
	Sep. 30, 2023
Asset Retirement Obligation Disclosure [Abstract]
Assets Held-For-Sale Divestiture	Assets Held-For-Sale Divestiture On September 18, 2023, the Company announced entry into a definitive agreement to sell its FRT Metrology (“FRT”) business to Camtek Ltd. (“Camtek”) for $100 million in cash, subject to customary purchase price adjustments. The Company acquired FRT in fiscal 2019 for total consideration of $24.4 million, net of cash acquired. Headquartered in Bergisch Gladbach, Germany, FRT is a leading supplier of high-precision metrology solutions for the Advanced Packaging and Silicon Carbide markets, and is part of our Systems segment. The related assets and liabilities have been classified as held-for-sale in the Company’s consolidated balance sheet and measured at the lower of their carrying amount or fair value less cost to sell. We did not record an impairment from this event. The planned disposition of the FRT business did not meet the criteria to be classified as a discontinued operation in the Company’s financial statements since the disposition did not represent a strategic shift that had, or will have, a major effect on the Company’s operations and financial results. The components of held-for-sale assets and liabilities at September 30, 2023 were as follows (in thousands): Assets held-for-sale Accounts receivable, net of allowance for credit losses $ 5,491 Inventories, net 7,092 Other current assets 2,131 Intangibles, net 7,069 Goodwill 10,668 Other assets 1,267 Total assets held-for-sale $ 33,718 Liabilities held-for-sale Current liabilities $ 6,045 Other liabilities 2,476 Total liabilities held-for-sale $ 8,521 On November 1, 2023, we closed on the sale of FRT to Camtek and received cash proceeds of $103.8 million after preliminary adjustments with respect to cash, indebtedness, and working capital.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill by reportable segment was as follows (in thousands): Probe Cards Systems Total Goodwill, as of December 25, 2021 $ 178,424 $ 33,875 $ 212,299 Addition - Woburn Acquisition — 550 550 Foreign currency translation — (1,405) (1,405) Goodwill, as of December 31, 2022 178,424 33,020 211,444 Reclassification - Assets held-for-sale — (10,668) (10,668) Foreign currency translation — (291) (291) Goodwill, as of September 30, 2023 $ 178,424 $ 22,061 $ 200,485 We have not recorded goodwill impairments for the nine months ended September 30, 2023. Intangible assets were as follows (in thousands): September 30, 2023 December 31, 2022 Intangible Assets Gross Accumulated Net Gross Accumulated Net Existing developed technologies $ 159,115 $ 147,517 $ 11,598 $ 171,441 $ 151,212 $ 20,229 Customer relationships 47,877 46,388 1,489 50,912 45,003 5,909 Trade name 7,754 7,663 91 7,972 7,759 213 In-process research and development 400 — 400 400 — 400 $ 215,146 $ 201,568 $ 13,578 $ 230,725 $ 203,974 $ 26,751 In the current quarter, $7.1 million of net Intangible assets were reclassified to Assets held-for-sale as described in Note 4 , Assets Held-For-Sale Divestiture. Amortization expense was included in our Condensed Consolidated Statements of Income as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Cost of revenues $ 837 $ 824 $ 2,506 $ 2,420 Selling, general and administrative 440 1,530 3,537 4,636 $ 1,277 $ 2,354 $ 6,043 $ 7,056 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 2023 $ 640 2024 2,561 2025 2,330 2026 1,630 2027 1,630 Thereafter 4,387 $ 13,178

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following (in thousands): September 30, December 31, Accrued compensation and benefits $ 22,684 $ 15,864 Accrued warranty 4,984 4,199 Employee stock purchase plan contributions withheld 1,576 4,585 Accrued income and other taxes 2,761 12,817 Accrued restructuring charges 29 1,249 Other accrued expenses 4,453 3,401 $ 36,487 $ 42,115

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt On June 22, 2020, we entered into an $18.0 million 15-year credit facility loan agreement (the “Building Term Loan”) with MUFG Union Bank, National Association (“Union Bank”). The proceeds of the Building Term Loan were used to purchase a building adjacent to our leased facilities in Livermore, California. On May 19, 2023, we amended the Building Term Loan, replacing the benchmark reference rate LIBOR with SOFR, with no change to the amount or timing of contractual cash flows. The Building Term Loan bears interest at a rate equal to the applicable SOFR rate, plus 0.1148%, plus 1.75% per annum. Interest payments are payable in monthly installments over a fifteen-year period. The interest rate at September 30, 2023 was 7.19%. On March 17, 2020, we entered into an interest rate swap agreement with Union Bank to hedge the interest payment on the Building Term Loan for the notional amount of $18.0 million. As future levels of LIBOR over the life of the loan were uncertain, we entered into this interest-rate swap agreement to hedge the exposure in interest rate risks associated with movement in LIBOR rates. By entering into the agreement, we converted a floating-rate interest at one-month LIBOR plus 1.75% into a fixed-rate interest at 2.75%. This agreement was amended on May 19, 2023 to replace the benchmark reference rate LIBOR with SOFR to match the Building Term Loan agreement (as amended). After the amendment, the interest rate swap continues to convert our floating-rate interest into a fixed-rate at 2.75%.

Restructuring Charges

Restructuring Charges	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges 2022 Restructuring Plan On October 25, 2022, we adopted a restructuring plan (“2022 restructuring plan”) to align our cost structure with reduced demand levels, by streamlining and improving the efficiency and business effectiveness of our operations. This plan included lowering headcount by approximately 13% of our workforce. The Company has recognized 2022 restructuring plan charges of approximately $8.1 million for severance and employee-related costs, including $0.3 million for stock-based compensation, with $7.1 million within the Probe Cards segment, $0.5 million within the Systems segment, and $0.5 million within Corporate. We do not expect to incur additional material costs related to the 2022 restructuring plan. 2021 Restructuring Plan On September 25, 2021, we adopted restructuring plans (“2021 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, as part of these plans we have undertaken actions to adjust capacity for certain product offerings, which included contract termination costs to satisfy contract obligations. The Company has recognized 2021 restructuring plans charges of approximately $13.3 million, with $10.1 million within the Probe Cards segment and $3.2 million within the Systems segment, which were comprised of $1.4 million of severance and employee-related costs, $2.0 million in contract and lease termination costs, $9.4 million in inventory impairments and other inventory related costs, and $0.5 million of costs related to impairment of leasehold improvements, facility exits and fixed asset related costs. We do not expect additional material costs related to the 2021 restructuring plan. Total restructuring charges for both the 2022 and 2021 restructuring plans included in our Condensed Consolidated Statements of Income were as follows (in thousands): Three Months Ended September 30, 2023 September 24, 2022 Probe Cards Systems Total Probe Cards Systems Total Cost of revenues $ — $ — $ — $ 5,928 $ 132 $ 6,060 Research and development — — — 38 29 67 Selling, general and administrative — — — — 47 47 $ — $ — $ — $ 5,966 $ 208 $ 6,174 Nine Months Ended September 30, 2023 September 24, 2022 Probe Cards Systems Total Probe Cards Systems Total Cost of revenues $ 106 $ 251 $ 357 $ 6,194 $ 459 $ 6,653 Research and development 182 109 291 38 228 266 Selling, general and administrative 1,069 118 1,187 3 146 149 $ 1,357 $ 478 $ 1,835 $ 6,235 $ 833 $ 7,068 Changes to the restructuring accrual in the nine months ended September 30, 2023 were as follows (in thousands): Employee Severance Stock-based Compensation Inventory Contract Total December 31, 2022 $ 1,249 $ — $ — $ — $ 1,249 Restructuring charges 917 295 390 233 1,835 Cash payments (2,137) — (89) (233) (2,459) Non-cash settlement — (295) (301) — (596) September 30, 2023 $ 29 $ — $ — $ — $ 29

Fair Value and Derivative Instr

Fair Value and Derivative Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value and Derivative Instruments	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 30, 2023 or the year ended December 31, 2022. 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 2023. 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 30, 2023 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 26,936 $ — $ — $ 26,936 U.S. treasuries 2,290 — — 2,290 Commercial paper — 1,790 — 1,790 29,226 1,790 — 31,016 Marketable securities: U.S. treasuries 46,403 — — 46,403 Certificates of deposit — 238 — 238 U.S. agency securities — 12,141 — 12,141 Corporate bonds — 61,106 — 61,106 Commercial paper — 15,805 — 15,805 46,403 89,290 — 135,693 Promissory note receivable — — 922 922 Interest rate swap derivative contract — 2,536 — 2,536 Total assets $ 75,629 $ 93,616 $ 922 $ 170,167 Liabilities: Foreign exchange derivative contracts $ — $ (781) $ — $ (781) Total liabilities $ — $ (781) $ — $ (781) December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 21,279 $ — $ — $ 21,279 Commercial paper — 4,969 — 4,969 U.S. agency securities — 996 — 996 21,279 5,965 — 27,244 Marketable securities: U.S. treasuries 25,019 — — 25,019 Certificates of deposit — 706 — 706 U.S. agency securities — 11,045 — 11,045 Corporate bonds — 67,396 — 67,396 Commercial paper — 24,840 — 24,840 25,019 103,987 — 129,006 Foreign exchange derivative contracts — 664 — 664 Promissory note receivable — — 943 943 Interest rate swap derivative contract — 2,374 — 2,374 Total assets $ 46,298 $ 112,990 $ 943 $ 160,231 Liabilities: Foreign exchange derivative contracts $ — $ (193) $ — $ (193) Total liabilities $ — $ (193) $ — $ (193) 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 Swap The fair value of our interest rate swap contract 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 contract qualifies for, and is designated as a cash flow hedge. The hedged risk is the interest rate exposure to changes in interest payments attributable to changes in our variable-rate interest over the interest rate swap term. The changes in cash flows of the interest rate swap are expected to exactly offset changes in cash flows of the variable-rate debt. Cash settlements, in the form of cash payments or cash receipts, of the interest rate swap, in the form of cash payments or cash receipts, are recognized as a component of interest expense. 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 30, 2023 will mature by the third quarter of fiscal 2024. The following table provides information about our foreign currency forward contracts outstanding as of September 30, 2023 (in thousands): Currency Contract Position Contract Amount Contract Amount Euro Dollar Buy 20,312 $ 22,427 Euro Dollar Sell 3,576 3,786 Japanese Yen Sell 2,759,293 18,535 Korean Won Buy 1,520,865 1,133 Taiwan Dollar Sell 59,367 1,839 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. 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 8, Restructuring Charges,

Warranty

Warranty	9 Months Ended
	Sep. 30, 2023
Product Warranties Disclosures [Abstract]
Warranty	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 30, September 24, Balance at beginning of period $ 4,199 $ 2,805 Accruals 6,426 5,653 Settlements (5,535) (4,652) Reclassification - Liabilities held-for-sale (106) — Balance at end of period $ 4,984 $ 3,806

Property, Plant, and Equipment,

Property, Plant, and Equipment, net	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment, net consisted of the following (in thousands): September 30, December 31, Land $ 17,136 $ 17,136 Building and building improvements 44,452 44,932 Machinery and equipment 286,033 276,180 Computer equipment and software 46,968 45,813 Furniture and fixtures 7,471 7,540 Leasehold improvements 90,813 86,500 Sub-total 492,873 478,101 Less: Accumulated depreciation and amortization (353,796) (335,711) Net, property, plant and equipment 139,077 142,390 Construction-in-process 64,433 47,458 Total $ 203,510 $ 189,848 In the current quarter, $0.9 million of net Property, plant and equipment were reclassified to Assets held-for-sale as described in Note 4 , Assets Held-For-Sale Divestiture.

Stockholders_ Equity and Stock-

Stockholders’ Equity and Stock-Based Compensation	3 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Stockholders’ Equity and Stock-Based Compensation	Stockholders’ Equity and Stock-Based Compensation Common Stock Repurchase Programs On October 26, 2020, our Board of Directors authorized a two 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 30, 2023, we did not repurchase any common stock. As of September 30, 2023, $18.6 million remained available for future repurchases. On October 30, 2023, our Board of Directors authorized a new two 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. The net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act. The excise tax incurred reduces the amount available under the repurchase programs, as applicable, and is included in the cost of shares repurchased in the Condensed Consolidated Statement of Stockholders Equity. 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 31, 2022 2,227,081 $ 35.28 Awards granted 1,402,715 33.84 Awards vested (830,549) 33.56 Awards forfeited (336,753) 30.14 RSUs at September 30, 2023 2,462,494 35.74 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 7, 2023, we granted 172,680 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, 2023 - June 30, 2026, 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 258,600 PRSUs granted in fiscal 2020, none of the 191,400 outstanding PRSU awards vested in 2023, at the end of the requisite service period, as the TSR performance was not met. 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 30, 2023 Shares issued 363,190 Weighted average per share purchase price $ 24.29 Weighted average per share discount from the fair value of our common stock on the date of issuance $ 7.65 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 30, September 24, September 30, September 24, Cost of revenues $ 1,376 $ 1,022 $ 4,801 $ 2,834 Research and development 3,173 2,027 7,908 5,708 Selling, general and administrative 6,290 4,946 16,624 13,331 Total stock-based compensation $ 10,839 $ 7,995 $ 29,333 $ 21,873 Unrecognized Compensation Costs At September 30, 2023, the unrecognized stock-based compensation was as follows (dollars in thousands): Unrecognized Expense Average Expected Restricted stock units $ 58,985 2.21 Performance restricted stock units 14,667 2.20 Employee stock purchase plan 1,498 0.25 Total unrecognized stock-based compensation expense $ 75,150 2.17

Net Income per Share

Net Income per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income per Share	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 30, September 24, September 30, September 24, Weighted-average shares used in computing basic net income per share 77,571 77,245 77,265 77,796 Add potentially dilutive securities 841 443 595 696 Weighted-average shares used in computing diluted net income per share 78,412 77,688 77,860 78,492 Securities not included as they would have been antidilutive 172 897 94 266

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases See Note 15, Leases . Contractual Obligations and Commitments Our contractual obligations and commitments have not materially changed as of September 30, 2023 from those disclosed in our Annual Report on Form 10-K for the year ended December 31, 2022. Legal Matters From time to time, we are subject to legal proceedings and claims in the ordinary course of business, the outcomes of which cannot be estimated with certainty. Our ability to estimate the outcomes may change in the near term and the effect of any such change could have a material adverse effect on our financial position, results of operations or cash flows.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
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 year. 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 30, 2023 and the weighted-average discount rate was 4.39%. The components of lease expense were as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Lease expense: Operating lease expense $ 2,157 $ 2,118 $ 6,233 $ 6,522 Short-term lease expense 126 135 419 251 Variable lease expense 625 590 1,854 1,725 $ 2,908 $ 2,843 $ 8,506 $ 8,498 Future minimum payments under our non-cancelable operating leases were as follows as of September 30, 2023 (in thousands): Fiscal Year Amount Remainder of 2023 $ 2,175 2024 8,773 2025 8,670 2026 7,151 2027 6,734 Thereafter 3,541 Total minimum lease payments 37,044 Less: interest (3,941) Present value of net minimum lease payments 33,103 Less: current portion (8,007) Total long-term operating lease liabilities $ 25,096

Revenue

Revenue	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Transaction price allocated to the remaining performance obligations: On September 30, 2023, we had $13.8 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 23.2% of our remaining performance obligations as revenue in the remainder of fiscal 2023, approximately 66.7% in fiscal 2024, and approximately 10.1% in fiscal 2025 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 30, 2023 and December 31, 2022 were $2.9 million and $1.9 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, Assets held-for-sale, and Other liabilities. Contract liabilities as of September 30, 2023 and December 31, 2022 were $18.0 million and $30.9 million, respectively. During the nine months ended September 30, 2023, we recognized $26.0 million of revenue that was included in contract liabilities as of December 31, 2022. 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 17, Operating Segments and Enterprise-Wide Information

Operating Segments and Enterpri

Operating Segments and Enterprise-Wide Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Operating Segments and Enterprise-Wide Information	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 30, 2023 September 24, 2022 Probe Cards Systems Corporate and Other Total Probe Cards Systems Corporate and Other Total Revenues $ 128,339 $ 43,236 $ — $ 171,575 $ 139,365 $ 41,504 $ — $ 180,869 Gross profit 49,383 22,396 (2,494) 69,285 48,252 22,284 (8,323) 62,213 Gross margin 38.5 % 51.8 % 40.4 % 34.6 % 53.7 % 34.4 % Nine Months Ended September 30, 2023 September 24, 2022 Probe Cards Systems Corporate and Other Total Probe Cards Systems Corporate and Other Total Revenues $ 370,970 $ 123,969 $ — $ 494,939 $ 467,056 $ 114,894 $ — $ 581,950 Gross profit 135,118 64,266 (8,738) 190,646 203,874 59,967 (13,035) 250,806 Gross margin 36.4 % 51.8 % 38.5 % 43.7 % 52.2 % 43.1 % 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, divestiture related expenses, 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 30, 2023 September 24, 2022 Probe Cards Systems Total Probe Cards Systems Total Market: Foundry & Logic $ 96,366 $ — $ 96,366 $ 90,605 $ — $ 90,605 DRAM 27,478 — 27,478 34,922 — 34,922 Flash 4,495 — 4,495 13,838 — 13,838 Systems — 43,236 43,236 — 41,504 41,504 Total $ 128,339 $ 43,236 $ 171,575 $ 139,365 $ 41,504 $ 180,869 Timing of revenue recognition: Products transferred at a point in time $ 127,731 $ 41,776 $ 169,507 $ 138,602 $ 37,842 $ 176,444 Products and services transferred over time 608 1,460 2,068 763 3,662 4,425 Total $ 128,339 $ 43,236 $ 171,575 $ 139,365 $ 41,504 $ 180,869 Geographical region: United States $ 31,182 $ 12,543 $ 43,725 $ 25,909 $ 12,180 $ 38,089 Taiwan 39,155 3,820 42,975 32,227 4,611 36,838 South Korea 31,805 3,270 35,075 28,118 819 28,937 China 10,779 10,971 21,750 27,973 8,755 36,728 Europe 2,583 6,713 9,296 3,682 8,116 11,798 Japan 2,976 3,988 6,964 4,533 3,159 7,692 Malaysia 5,778 186 5,964 6,272 237 6,509 Singapore 2,752 925 3,677 7,983 2,374 10,357 Rest of the world 1,329 820 2,149 2,668 1,253 3,921 Total $ 128,339 $ 43,236 $ 171,575 $ 139,365 $ 41,504 $ 180,869 Nine Months Ended September 30, 2023 September 24, 2022 Probe Cards Systems Total Probe Cards Systems Total Market: Foundry & Logic $ 279,895 $ — $ 279,895 $ 327,106 $ — $ 327,106 DRAM 77,832 — 77,832 106,202 — 106,202 Flash 13,243 — 13,243 33,748 — 33,748 Systems — 123,969 123,969 — 114,894 114,894 Total $ 370,970 $ 123,969 $ 494,939 $ 467,056 $ 114,894 $ 581,950 Timing of revenue recognition: Products transferred at a point in time $ 368,939 $ 116,981 $ 485,920 $ 464,139 $ 106,339 $ 570,478 Products and services transferred over time 2,031 6,988 9,019 2,917 8,555 11,472 Total $ 370,970 $ 123,969 $ 494,939 $ 467,056 $ 114,894 $ 581,950 Geographical region: United States $ 86,954 $ 37,175 $ 124,129 $ 67,424 $ 27,554 $ 94,978 Taiwan 103,368 9,448 112,816 119,937 19,990 139,927 South Korea 77,832 5,881 83,713 80,417 4,776 85,193 China 45,771 26,586 72,357 101,342 23,520 124,862 Europe 8,424 21,114 29,538 9,888 18,396 28,284 Japan 14,014 11,859 25,873 16,034 10,977 27,011 Malaysia 22,279 1,632 23,911 43,946 1,006 44,952 Singapore 7,670 4,170 11,840 23,398 4,963 28,361 Rest of the world 4,658 6,104 10,762 4,670 3,712 8,382 Total $ 370,970 $ 123,969 $ 494,939 $ 467,056 $ 114,894 $ 581,950

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
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 2022 Annual Report on Form 10-K filed with the SEC on February 24, 2023. 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 2023 and 2022 contain 52 weeks and 53 weeks, respectively, and the nine months ended September 30, 2023 and September 24, 2022 each contained 39 weeks. Fiscal 2023 will end on December 30, 2023.
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 30, 2023 or the year ended December 31, 2022. 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 2023.

Concentration of Credit and O_2

Concentration of Credit and Other Risks (Tables)	9 Months Ended
	Sep. 30, 2023
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 30, September 24, September 30, September 24, Intel Corporation 17.1 % 17.0 % 17.2 % 19.7 % Samsung Electronics., LTD. 11.2 % * * * SK Hynix Inc. * 10.7 % * * 28.3 % 27.7 % 17.2 % 19.7 %

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory Components	Inventories, net, consisted of the following (in thousands): September 30, December 31, Raw materials $ 50,641 $ 55,726 Work-in-progress 40,150 46,067 Finished goods 20,835 21,364 $ 111,626 $ 123,157

Assets Held-For-Sale Divestit_2

Assets Held-For-Sale Divestiture (Tables)	9 Months Ended
	Sep. 30, 2023
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Components Held-for Sale	The components of held-for-sale assets and liabilities at September 30, 2023 were as follows (in thousands): Assets held-for-sale Accounts receivable, net of allowance for credit losses $ 5,491 Inventories, net 7,092 Other current assets 2,131 Intangibles, net 7,069 Goodwill 10,668 Other assets 1,267 Total assets held-for-sale $ 33,718 Liabilities held-for-sale Current liabilities $ 6,045 Other liabilities 2,476 Total liabilities held-for-sale $ 8,521

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
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 25, 2021 $ 178,424 $ 33,875 $ 212,299 Addition - Woburn Acquisition — 550 550 Foreign currency translation — (1,405) (1,405) Goodwill, as of December 31, 2022 178,424 33,020 211,444 Reclassification - Assets held-for-sale — (10,668) (10,668) Foreign currency translation — (291) (291) Goodwill, as of September 30, 2023 $ 178,424 $ 22,061 $ 200,485
Schedule of Intangible Assets	Intangible assets were as follows (in thousands): September 30, 2023 December 31, 2022 Intangible Assets Gross Accumulated Net Gross Accumulated Net Existing developed technologies $ 159,115 $ 147,517 $ 11,598 $ 171,441 $ 151,212 $ 20,229 Customer relationships 47,877 46,388 1,489 50,912 45,003 5,909 Trade name 7,754 7,663 91 7,972 7,759 213 In-process research and development 400 — 400 400 — 400 $ 215,146 $ 201,568 $ 13,578 $ 230,725 $ 203,974 $ 26,751
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 30, September 24, September 30, September 24, Cost of revenues $ 837 $ 824 $ 2,506 $ 2,420 Selling, general and administrative 440 1,530 3,537 4,636 $ 1,277 $ 2,354 $ 6,043 $ 7,056
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 2023 $ 640 2024 2,561 2025 2,330 2026 1,630 2027 1,630 Thereafter 4,387 $ 13,178

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): September 30, December 31, Accrued compensation and benefits $ 22,684 $ 15,864 Accrued warranty 4,984 4,199 Employee stock purchase plan contributions withheld 1,576 4,585 Accrued income and other taxes 2,761 12,817 Accrued restructuring charges 29 1,249 Other accrued expenses 4,453 3,401 $ 36,487 $ 42,115

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring Costs by Reportable Segment	Total restructuring charges for both the 2022 and 2021 restructuring plans included in our Condensed Consolidated Statements of Income were as follows (in thousands): Three Months Ended September 30, 2023 September 24, 2022 Probe Cards Systems Total Probe Cards Systems Total Cost of revenues $ — $ — $ — $ 5,928 $ 132 $ 6,060 Research and development — — — 38 29 67 Selling, general and administrative — — — — 47 47 $ — $ — $ — $ 5,966 $ 208 $ 6,174 Nine Months Ended September 30, 2023 September 24, 2022 Probe Cards Systems Total Probe Cards Systems Total Cost of revenues $ 106 $ 251 $ 357 $ 6,194 $ 459 $ 6,653 Research and development 182 109 291 38 228 266 Selling, general and administrative 1,069 118 1,187 3 146 149 $ 1,357 $ 478 $ 1,835 $ 6,235 $ 833 $ 7,068
Schedule of Restructuring Accrual Activity	Changes to the restructuring accrual in the nine months ended September 30, 2023 were as follows (in thousands): Employee Severance Stock-based Compensation Inventory Contract Total December 31, 2022 $ 1,249 $ — $ — $ — $ 1,249 Restructuring charges 917 295 390 233 1,835 Cash payments (2,137) — (89) (233) (2,459) Non-cash settlement — (295) (301) — (596) September 30, 2023 $ 29 $ — $ — $ — $ 29

Fair Value and Derivative Ins_2

Fair Value and Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
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 30, 2023 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 26,936 $ — $ — $ 26,936 U.S. treasuries 2,290 — — 2,290 Commercial paper — 1,790 — 1,790 29,226 1,790 — 31,016 Marketable securities: U.S. treasuries 46,403 — — 46,403 Certificates of deposit — 238 — 238 U.S. agency securities — 12,141 — 12,141 Corporate bonds — 61,106 — 61,106 Commercial paper — 15,805 — 15,805 46,403 89,290 — 135,693 Promissory note receivable — — 922 922 Interest rate swap derivative contract — 2,536 — 2,536 Total assets $ 75,629 $ 93,616 $ 922 $ 170,167 Liabilities: Foreign exchange derivative contracts $ — $ (781) $ — $ (781) Total liabilities $ — $ (781) $ — $ (781) December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 21,279 $ — $ — $ 21,279 Commercial paper — 4,969 — 4,969 U.S. agency securities — 996 — 996 21,279 5,965 — 27,244 Marketable securities: U.S. treasuries 25,019 — — 25,019 Certificates of deposit — 706 — 706 U.S. agency securities — 11,045 — 11,045 Corporate bonds — 67,396 — 67,396 Commercial paper — 24,840 — 24,840 25,019 103,987 — 129,006 Foreign exchange derivative contracts — 664 — 664 Promissory note receivable — — 943 943 Interest rate swap derivative contract — 2,374 — 2,374 Total assets $ 46,298 $ 112,990 $ 943 $ 160,231 Liabilities: Foreign exchange derivative contracts $ — $ (193) $ — $ (193) Total liabilities $ — $ (193) $ — $ (193)
Schedule of Foreign Currency Forward Contracts	The following table provides information about our foreign currency forward contracts outstanding as of September 30, 2023 (in thousands): Currency Contract Position Contract Amount Contract Amount Euro Dollar Buy 20,312 $ 22,427 Euro Dollar Sell 3,576 3,786 Japanese Yen Sell 2,759,293 18,535 Korean Won Buy 1,520,865 1,133 Taiwan Dollar Sell 59,367 1,839

Warranty (Tables)

Warranty (Tables)	9 Months Ended
	Sep. 30, 2023
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 30, September 24, Balance at beginning of period $ 4,199 $ 2,805 Accruals 6,426 5,653 Settlements (5,535) (4,652) Reclassification - Liabilities held-for-sale (106) — Balance at end of period $ 4,984 $ 3,806

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment, net consisted of the following (in thousands): September 30, December 31, Land $ 17,136 $ 17,136 Building and building improvements 44,452 44,932 Machinery and equipment 286,033 276,180 Computer equipment and software 46,968 45,813 Furniture and fixtures 7,471 7,540 Leasehold improvements 90,813 86,500 Sub-total 492,873 478,101 Less: Accumulated depreciation and amortization (353,796) (335,711) Net, property, plant and equipment 139,077 142,390 Construction-in-process 64,433 47,458 Total $ 203,510 $ 189,848

Stockholders_ Equity and Stoc_2

Stockholders’ Equity and Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
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 31, 2022 2,227,081 $ 35.28 Awards granted 1,402,715 33.84 Awards vested (830,549) 33.56 Awards forfeited (336,753) 30.14 RSUs at September 30, 2023 2,462,494 35.74
Schedule of ESPP Activity	Information related to activity under our Employee Stock Purchase Plan (“ESPP”) was as follows: Nine Months Ended September 30, 2023 Shares issued 363,190 Weighted average per share purchase price $ 24.29 Weighted average per share discount from the fair value of our common stock on the date of issuance $ 7.65
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 30, September 24, September 30, September 24, Cost of revenues $ 1,376 $ 1,022 $ 4,801 $ 2,834 Research and development 3,173 2,027 7,908 5,708 Selling, general and administrative 6,290 4,946 16,624 13,331 Total stock-based compensation $ 10,839 $ 7,995 $ 29,333 $ 21,873
Schedule of Unrecognized Stock-based Compensation	At September 30, 2023, the unrecognized stock-based compensation was as follows (dollars in thousands): Unrecognized Expense Average Expected Restricted stock units $ 58,985 2.21 Performance restricted stock units 14,667 2.20 Employee stock purchase plan 1,498 0.25 Total unrecognized stock-based compensation expense $ 75,150 2.17

Net Income per Share (Tables)

Net Income per Share (Tables)	9 Months Ended
	Sep. 30, 2023
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 30, September 24, September 30, September 24, Weighted-average shares used in computing basic net income per share 77,571 77,245 77,265 77,796 Add potentially dilutive securities 841 443 595 696 Weighted-average shares used in computing diluted net income per share 78,412 77,688 77,860 78,492 Securities not included as they would have been antidilutive 172 897 94 266

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
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 30, September 24, September 30, September 24, Lease expense: Operating lease expense $ 2,157 $ 2,118 $ 6,233 $ 6,522 Short-term lease expense 126 135 419 251 Variable lease expense 625 590 1,854 1,725 $ 2,908 $ 2,843 $ 8,506 $ 8,498
Schedule of Future Minimum Payments Under Leases	Future minimum payments under our non-cancelable operating leases were as follows as of September 30, 2023 (in thousands): Fiscal Year Amount Remainder of 2023 $ 2,175 2024 8,773 2025 8,670 2026 7,151 2027 6,734 Thereafter 3,541 Total minimum lease payments 37,044 Less: interest (3,941) Present value of net minimum lease payments 33,103 Less: current portion (8,007) Total long-term operating lease liabilities $ 25,096

Operating Segments and Enterp_2

Operating Segments and Enterprise-Wide Information (Tables)	9 Months Ended
	Sep. 30, 2023
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 30, 2023 September 24, 2022 Probe Cards Systems Corporate and Other Total Probe Cards Systems Corporate and Other Total Revenues $ 128,339 $ 43,236 $ — $ 171,575 $ 139,365 $ 41,504 $ — $ 180,869 Gross profit 49,383 22,396 (2,494) 69,285 48,252 22,284 (8,323) 62,213 Gross margin 38.5 % 51.8 % 40.4 % 34.6 % 53.7 % 34.4 % Nine Months Ended September 30, 2023 September 24, 2022 Probe Cards Systems Corporate and Other Total Probe Cards Systems Corporate and Other Total Revenues $ 370,970 $ 123,969 $ — $ 494,939 $ 467,056 $ 114,894 $ — $ 581,950 Gross profit 135,118 64,266 (8,738) 190,646 203,874 59,967 (13,035) 250,806 Gross margin 36.4 % 51.8 % 38.5 % 43.7 % 52.2 % 43.1 %
Schedule of Disaggregation of Revenue by Segment	Certain revenue category information by reportable segment was as follows (in thousands): Three Months Ended September 30, 2023 September 24, 2022 Probe Cards Systems Total Probe Cards Systems Total Market: Foundry & Logic $ 96,366 $ — $ 96,366 $ 90,605 $ — $ 90,605 DRAM 27,478 — 27,478 34,922 — 34,922 Flash 4,495 — 4,495 13,838 — 13,838 Systems — 43,236 43,236 — 41,504 41,504 Total $ 128,339 $ 43,236 $ 171,575 $ 139,365 $ 41,504 $ 180,869 Timing of revenue recognition: Products transferred at a point in time $ 127,731 $ 41,776 $ 169,507 $ 138,602 $ 37,842 $ 176,444 Products and services transferred over time 608 1,460 2,068 763 3,662 4,425 Total $ 128,339 $ 43,236 $ 171,575 $ 139,365 $ 41,504 $ 180,869 Geographical region: United States $ 31,182 $ 12,543 $ 43,725 $ 25,909 $ 12,180 $ 38,089 Taiwan 39,155 3,820 42,975 32,227 4,611 36,838 South Korea 31,805 3,270 35,075 28,118 819 28,937 China 10,779 10,971 21,750 27,973 8,755 36,728 Europe 2,583 6,713 9,296 3,682 8,116 11,798 Japan 2,976 3,988 6,964 4,533 3,159 7,692 Malaysia 5,778 186 5,964 6,272 237 6,509 Singapore 2,752 925 3,677 7,983 2,374 10,357 Rest of the world 1,329 820 2,149 2,668 1,253 3,921 Total $ 128,339 $ 43,236 $ 171,575 $ 139,365 $ 41,504 $ 180,869 Nine Months Ended September 30, 2023 September 24, 2022 Probe Cards Systems Total Probe Cards Systems Total Market: Foundry & Logic $ 279,895 $ — $ 279,895 $ 327,106 $ — $ 327,106 DRAM 77,832 — 77,832 106,202 — 106,202 Flash 13,243 — 13,243 33,748 — 33,748 Systems — 123,969 123,969 — 114,894 114,894 Total $ 370,970 $ 123,969 $ 494,939 $ 467,056 $ 114,894 $ 581,950 Timing of revenue recognition: Products transferred at a point in time $ 368,939 $ 116,981 $ 485,920 $ 464,139 $ 106,339 $ 570,478 Products and services transferred over time 2,031 6,988 9,019 2,917 8,555 11,472 Total $ 370,970 $ 123,969 $ 494,939 $ 467,056 $ 114,894 $ 581,950 Geographical region: United States $ 86,954 $ 37,175 $ 124,129 $ 67,424 $ 27,554 $ 94,978 Taiwan 103,368 9,448 112,816 119,937 19,990 139,927 South Korea 77,832 5,881 83,713 80,417 4,776 85,193 China 45,771 26,586 72,357 101,342 23,520 124,862 Europe 8,424 21,114 29,538 9,888 18,396 28,284 Japan 14,014 11,859 25,873 16,034 10,977 27,011 Malaysia 22,279 1,632 23,911 43,946 1,006 44,952 Singapore 7,670 4,170 11,840 23,398 4,963 28,361 Rest of the world 4,658 6,104 10,762 4,670 3,712 8,382 Total $ 370,970 $ 123,969 $ 494,939 $ 467,056 $ 114,894 $ 581,950

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Thousands	1 Months Ended
	Jan. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash received from grant	$ 18,000	$ 18,000	$ 0
Grant term	5 years

Concentration of Credit and O_3

Concentration of Credit and Other Risks (Details) - Customer Concentration Risk	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Jul. 01, 2023	Sep. 30, 2023	Sep. 24, 2022
Revenue Benchmark | Two Major Customers
Concentration Risk [Line Items]
Concentration risk percentage				10%	10%
Revenue from Contract with Customer Benchmark | Intel Corporation
Concentration Risk [Line Items]
Concentration risk percentage	17.10%	17%		17.20%	19.70%
Revenue from Contract with Customer Benchmark | Samsung Electronics., LTD.
Concentration Risk [Line Items]
Concentration risk percentage	11.20%
Revenue from Contract with Customer Benchmark | SK Hynix Inc.
Concentration Risk [Line Items]
Concentration risk percentage		10.70%
Revenue from Contract with Customer Benchmark | Customers Representing 10% or More of Total Revenues
Concentration Risk [Line Items]
Concentration risk percentage	28.30%	27.70%		17.20%	19.70%
Accounts Receivable | Major Customer 1
Concentration Risk [Line Items]
Concentration risk percentage			13.80%	23.50%

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 50,641	$ 55,726
Work-in-progress	40,150	46,067
Finished goods	20,835	21,364
Inventories	$ 111,626	$ 123,157

Assets Held-For-Sale Divestit_3

Assets Held-For-Sale Divestiture (Details) - Disposal Group, Held-for-Sale, Not Discontinued Operations - FRT Metrology - USD ($) $ in Millions	Nov. 01, 2023	Sep. 18, 2023	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration		$ 100	$ 24.4
Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received, adjusted amount	$ 103.8

Assets Held-For-Sale Divestit_4

Assets Held-For-Sale Divestiture - Schedule of Assets and Liabilities Held-for-Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets held-for-sale
Total assets held-for-sale	$ 33,718	$ 0
Liabilities held-for-sale
Total liabilities held-for-sale	8,521	$ 0
Disposal Group, Held-for-Sale, Not Discontinued Operations | FRT Metrology
Assets held-for-sale
Accounts receivable, net of allowance for credit losses	5,491
Inventories, net	7,092
Other current assets	2,131
Intangibles, net	7,069
Goodwill	10,668
Other assets	1,267
Total assets held-for-sale	33,718
Liabilities held-for-sale
Current liabilities	6,045
Other liabilities	2,476
Total liabilities held-for-sale	$ 8,521

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 211,444	$ 212,299
Reclassification - Assets held-for-sale	(10,668)
Foreign currency translation	(291)	(1,405)
Goodwill, ending balance	200,485	211,444
Woburn
Goodwill [Roll Forward]
Goodwill, acquired during period		550
Probe Cards
Goodwill [Roll Forward]
Goodwill, beginning balance	178,424	178,424
Reclassification - Assets held-for-sale	0
Foreign currency translation	0	0
Goodwill, ending balance	178,424	178,424
Probe Cards | Woburn
Goodwill [Roll Forward]
Goodwill, acquired during period		0
Systems
Goodwill [Roll Forward]
Goodwill, beginning balance	33,020	33,875
Reclassification - Assets held-for-sale	(10,668)
Foreign currency translation	(291)	(1,405)
Goodwill, ending balance	$ 22,061	33,020
Systems | Woburn
Goodwill [Roll Forward]
Goodwill, acquired during period		$ 550

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional information (Details)	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Line Items]
Goodwill, impairment loss	$ 0
Disposal Group, Held-for-Sale, Not Discontinued Operations | FRT Metrology
Goodwill [Line Items]
Intangibles, net	$ 7,100,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross	$ 215,146	$ 230,725
Accumulated Amortization	201,568	203,974
Net	13,578	26,751
Existing developed technologies
Finite-Lived Intangible Assets [Line Items]
Gross	159,115	171,441
Accumulated Amortization	147,517	151,212
Net	11,598	20,229
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	47,877	50,912
Accumulated Amortization	46,388	45,003
Net	1,489	5,909
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross	7,754	7,972
Accumulated Amortization	7,663	7,759
Net	91	213
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Gross	400	400
Accumulated Amortization	0	0
Net	$ 400	$ 400

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Property, Plant and Equipment [Line Items]
Amortization of intangible assets	$ 1,277	$ 2,354	$ 6,043	$ 7,056
Finite-Lived Intangible Assets, Net, Amortization Expense, Rolling Maturity [Abstract]
Remainder of 2023	640		640
2024	2,561		2,561
2025	2,330		2,330
2026	1,630		1,630
2027	1,630		1,630
Thereafter	4,387		4,387
Net	13,178		13,178
Cost of revenues
Property, Plant and Equipment [Line Items]
Amortization of intangible assets	837	824	2,506	2,420
Selling, general and administrative
Property, Plant and Equipment [Line Items]
Amortization of intangible assets	$ 440	$ 1,530	$ 3,537	$ 4,636

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued compensation and benefits	$ 22,684	$ 15,864
Accrued income and other taxes	2,761	12,817
Accrued warranty	4,984	4,199
Employee stock purchase plan contributions withheld	1,576	4,585
Accrued restructuring charges	29	1,249
Other accrued expenses	4,453	3,401
Accrued liabilities	$ 36,487	$ 42,115

Debt (Details)

Debt (Details) - Building Term Loan - USD ($) $ in Millions	Jun. 22, 2020	Mar. 17, 2020	Sep. 30, 2023
Debt Instrument [Line Items]
Interest rate at period end			7.19%
Maximum borrowing capacity	$ 18
Long-term debt, term	15 years
Interest payment term	15 years
Interest rate, effective percentage		2.75%
Interest Rate Contract
Debt Instrument [Line Items]
Derivative, notional amount		$ 18
SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Additional SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	0.1148%
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%

Restructuring Charges - Narrati

Restructuring Charges - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		5 Months Ended	9 Months Ended		18 Months Ended
	Oct. 25, 2022	Sep. 30, 2023	Sep. 24, 2022	Apr. 01, 2023	Sep. 30, 2023	Sep. 24, 2022	Apr. 01, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 0	$ 6,174		$ 1,835	$ 7,068
Stock-based Compensation
Restructuring Cost and Reserve [Line Items]
Restructuring charges					295
Employee Severance and Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges					917
Contract Termination & Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges					233
Inventory Impairments & Other Inventory Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges					390
Probe Cards
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0	5,966		1,357	6,235
Systems
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 0	$ 208		$ 478	$ 833
2022 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Percent of workforce eliminated	13%
Restructuring charges				$ 8,100
2022 Restructuring Plan | Stock-based Compensation
Restructuring Cost and Reserve [Line Items]
Restructuring charges				300
2022 Restructuring Plan | Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges				500
2022 Restructuring Plan | Probe Cards
Restructuring Cost and Reserve [Line Items]
Restructuring charges				7,100
2022 Restructuring Plan | Systems
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 500
2021 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges							$ 13,300
2021 Restructuring Plan | Employee Severance and Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges							1,400
2021 Restructuring Plan | Contract Termination & Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges							2,000
2021 Restructuring Plan | Inventory Impairments & Other Inventory Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges							9,400
2021 Restructuring Plan | Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges							500
2021 Restructuring Plan | Probe Cards
Restructuring Cost and Reserve [Line Items]
Restructuring charges							10,100
2021 Restructuring Plan | Systems
Restructuring Cost and Reserve [Line Items]
Restructuring charges							$ 3,200

Restructuring Charges - Restruc

Restructuring Charges - Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 6,174	$ 1,835	$ 7,068
Accrued restructuring charges	29		29		$ 1,249
Cash payments			(2,459)
Non-cash settlement			(596)
Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	6,060	357	6,653
Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	67	291	266
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	47	1,187	149
Probe Cards
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	5,966	1,357	6,235
Probe Cards | Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	5,928	106	6,194
Probe Cards | Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	38	182	38
Probe Cards | Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	1,069	3
Systems
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	208	478	833
Systems | Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	132	251	459
Systems | Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	29	109	228
Systems | Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 47	$ 118	$ 146

Restructuring Charges - Changes

Restructuring Charges - Changes to the Restructuring Accrual (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Restructuring Reserve [Roll Forward]
Accrual at beginning of period			$ 1,249
Restructuring charges	$ 0	$ 6,174	1,835	$ 7,068
Cash payments			(2,459)
Non-cash settlement			(596)
Accrual at end of period	29		29
Employee Severance and Benefits
Restructuring Reserve [Roll Forward]
Accrual at beginning of period			1,249
Restructuring charges			917
Cash payments			(2,137)
Non-cash settlement			0
Accrual at end of period	29		29
Stock-based Compensation
Restructuring Reserve [Roll Forward]
Accrual at beginning of period			0
Restructuring charges			295
Cash payments			0
Non-cash settlement			(295)
Accrual at end of period	0		0
Inventory Impairments & Other Inventory Related Costs
Restructuring Reserve [Roll Forward]
Accrual at beginning of period			0
Restructuring charges			390
Cash payments			(89)
Non-cash settlement			(301)
Accrual at end of period	0		0
Contract Termination & Other Costs
Restructuring Reserve [Roll Forward]
Accrual at beginning of period			0
Restructuring charges			233
Cash payments			(233)
Non-cash settlement			0
Accrual at end of period	$ 0		$ 0

Fair Value and Derivative Ins_3

Fair Value and Derivative Instruments - Fair Value Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 31,016	$ 27,244
Marketable securities	135,693	129,006
Total assets	170,167	160,231
Total liabilities	(781)	(193)
Foreign exchange derivative contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	(781)
Foreign exchange derivative contracts | Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts		664
Derivative liability		(193)
Promissory note receivable | Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	922	943
Interest rate swap derivative contract | Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	2,536	2,374
Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	26,936	21,279
Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,790	4,969
Marketable securities	15,805
Commercial paper | Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities		24,840
Corporate bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	61,106	67,396
U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2,290
Marketable securities	46,403	25,019
Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	238	706
U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		996
Marketable securities	12,141	11,045
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	29,226	21,279
Marketable securities	46,403	25,019
Total assets	75,629	46,298
Total liabilities	0	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 contracts		0
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	0
Level 1 | Interest rate swap derivative contract | Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	0	0
Level 1 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	26,936	21,279
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]
Marketable securities	0	0
Level 1 | U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2,290
Marketable securities	46,403	25,019
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	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,790	5,965
Marketable securities	89,290	103,987
Total assets	93,616	112,990
Total liabilities	(781)	(193)
Level 2 | Foreign exchange derivative contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	(781)
Level 2 | Foreign exchange derivative contracts | Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts		664
Derivative liability		(193)
Level 2 | Promissory note receivable | Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	0	0
Level 2 | Interest rate swap derivative contract | Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	2,536	2,374
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	1,790	4,969
Marketable securities	15,805
Level 2 | Commercial paper | Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities		24,840
Level 2 | Corporate bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	61,106	67,396
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	238	706
Level 2 | U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		996
Marketable securities	12,141	11,045
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Marketable securities	0	0
Total assets	922	943
Total liabilities	0	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 contracts		0
Derivative liability		0
Level 3 | Promissory note receivable | Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	922	943
Level 3 | Interest rate swap derivative contract | Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	0	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]
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	$ 0

Fair Value and Derivative Ins_4

Fair Value and Derivative Instruments - Foreign Currency Forward Contracts (Details) - Sep. 30, 2023 - Foreign Exchange Forward € in Thousands, ₩ in Thousands, ¥ in Thousands, $ in Thousands, $ in Thousands	USD ($)	EUR (€)	JPY (¥)	KRW (₩)	TWD ($)
Buy | Euro Dollar
Derivative [Line Items]
Derivative, notional amount	$ 22,427	€ 20,312
Buy | Korean Won
Derivative [Line Items]
Derivative, notional amount	1,133			₩ 1,520,865
Sell | Euro Dollar
Derivative [Line Items]
Derivative, notional amount	3,786	€ 3,576
Sell | Japanese Yen
Derivative [Line Items]
Derivative, notional amount	18,535		¥ 2,759,293
Sell | Taiwan Dollar
Derivative [Line Items]
Derivative, notional amount	$ 1,839				$ 59,367

Fair Value and Derivative Ins_5

Fair Value and Derivative Instruments - Additional Information (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022	Sep. 24, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on non-recurring basis	$ 170,167,000	$ 160,231,000
Liabilities measured at fair value on non-recurring basis	781,000	$ 193,000
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)

Warranty (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 4,199	$ 2,805
Accruals	6,426	5,653
Settlements	(5,535)	(4,652)
Reclassification - Liabilities held-for-sale	(106)	0
Balance at end of period	$ 4,984	$ 3,806

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Sub-total	$ 492,873	$ 478,101
Less: Accumulated depreciation and amortization	(353,796)	(335,711)
Net, property, plant and equipment	139,077	142,390
Construction-in-process	64,433	47,458
Total	203,510	189,848
Reclassification	900
Land
Property, Plant and Equipment [Line Items]
Sub-total	17,136	17,136
Building and building improvements
Property, Plant and Equipment [Line Items]
Sub-total	44,452	44,932
Machinery and equipment
Property, Plant and Equipment [Line Items]
Sub-total	286,033	276,180
Computer equipment and software
Property, Plant and Equipment [Line Items]
Sub-total	46,968	45,813
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Sub-total	7,471	7,540
Leasehold improvements
Property, Plant and Equipment [Line Items]
Sub-total	$ 90,813	$ 86,500

Stockholders_ Equity and Stoc_3

Stockholders’ Equity and Stock-Based Compensation - Additional Information (Details) - USD ($)				3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 30, 2023	Aug. 07, 2023	Oct. 26, 2020	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022	Dec. 26, 2020	May 20, 2022
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
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)		172,680
Fair value of awards granted		$ 8,600,000
Vested (in shares)						0
Outstanding (in shares)				191,400		191,400
PRSUs | 2020 PSU Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)								258,600
October2023 Stock Repurchase Program | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program duration	2 years
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
Stock repurchase program duration			2 years
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)				0
Amount remaining for future repurchases				$ 18,600,000		$ 18,600,000
Common Stock | 2020 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of common stock retired through repurchase program (in shares)							676,408
Purchase of common stock value retired through repurchase program							$ 26,000,000
Common Stock | October2023 Stock Repurchase Program | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program authorized amount	$ 75,000,000

Stockholders_ Equity and Stoc_4

Stockholders’ Equity and Stock-Based Compensation - Restricted Stock Unit Activity (Details) - Equity Incentive Plan - Restricted Stock Units	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Units
Beginning balance (in shares) | shares	2,227,081
Awards granted (in shares) | shares	1,402,715
Awards vested (in shares) | shares	(830,549)
Awards canceled (in shares) | shares	(336,753)
Ending balance (in shares) | shares	2,462,494
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 35.28
Awards granted (in dollars per share) | $ / shares	33.84
Awards vested (in dollars per share) | $ / shares	33.56
Awards canceled (in dollars per share) | $ / shares	30.14
Ending balance (in dollars per share) | $ / shares	$ 35.74

Stockholders_ Equity and Stoc_5

Stockholders’ Equity and Stock-Based Compensation - ESPP Activity (Details) - Employee stock purchase plan	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares) | shares	363,190
Weighted average per share purchase price (in dollars per share)	$ 24.29
Weighted average per share discount from the fair value of our common stock on the date of issuance (in dollars per share)	$ 7.65

Stockholders_ Equity and Stoc_6

Stockholders’ Equity and Stock-Based Compensation - Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 10,839	$ 7,995	$ 29,333	$ 21,873
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	1,376	1,022	4,801	2,834
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	3,173	2,027	7,908	5,708
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 6,290	$ 4,946	$ 16,624	$ 13,331

Stockholders_ Equity and Stoc_7

Stockholders’ Equity and Stock-Based Compensation - Unrecognized Compensation Costs (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 75,150
Average Expected Recognition Period in Years	2 years 2 months 1 day
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 58,985
Average Expected Recognition Period in Years	2 years 2 months 15 days
Performance restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 14,667
Average Expected Recognition Period in Years	2 years 2 months 12 days
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 1,498
Average Expected Recognition Period in Years	3 months

Net Income per Share (Details)

Net Income per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Earnings Per Share [Abstract]
Weighted-average shares used in computing basic net income per share (in shares)	77,571	77,245	77,265	77,796
Add potentially dilutive securities (in shares)	841	443	595	696
Weighted-average shares used in computing diluted net income per share (in shares)	78,412	77,688	77,860	78,492
Securities not included as they would have been antidilutive (in shares)	172	897	94	266

Leases - Narrative (Details)

Leases - Narrative (Details)	Sep. 30, 2023
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	4.39%
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
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	1 year

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Leases [Abstract]
Operating lease expense	$ 2,157	$ 2,118	$ 6,233	$ 6,522
Short-term lease expense	126	135	419	251
Variable lease expense	625	590	1,854	1,725
Total lease expense	$ 2,908	$ 2,843	$ 8,506	$ 8,498

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Payments Under Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Remainder of 2023	$ 2,175
2024	8,773
2025	8,670
2026	7,151
2027	6,734
Thereafter	3,541
Total minimum lease payments	37,044
Less: interest	(3,941)
Present value of net minimum lease payments	33,103
Less: current portion	(8,007)	$ (7,353)
Total long-term operating lease liabilities	$ 25,096	$ 27,587

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 13.8
Contract assets	2.9	$ 1.9
Contract with customer, liability	18	$ 30.9
Revenue recognized included in contracts	$ 26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	23.20%
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months
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	66.70%
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	10.10%
Revenue, remaining performance obligation, expected timing of satisfaction, period

Operating Segments and Enterp_3

Operating Segments and Enterprise-Wide Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Operating Segments and Enterp_4

Operating Segments and Enterprise-Wide Information - Operating Results by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Segment Reporting Information [Line Items]
Revenues	$ 171,575	$ 180,869	$ 494,939	$ 581,950
Gross profit	$ 69,285	$ 62,213	$ 190,646	$ 250,806
Gross margin	40.40%	34.40%	38.50%	43.10%
Probe Cards
Segment Reporting Information [Line Items]
Revenues	$ 128,339	$ 139,365	$ 370,970	$ 467,056
Systems
Segment Reporting Information [Line Items]
Revenues	43,236	41,504	123,969	114,894
Operating segments | Probe Cards
Segment Reporting Information [Line Items]
Revenues	128,339	139,365	370,970	467,056
Gross profit	$ 49,383	$ 48,252	$ 135,118	$ 203,874
Gross margin	38.50%	34.60%	36.40%	43.70%
Operating segments | Systems
Segment Reporting Information [Line Items]
Revenues	$ 43,236	$ 41,504	$ 123,969	$ 114,894
Gross profit	$ 22,396	$ 22,284	$ 64,266	$ 59,967
Gross margin	51.80%	53.70%	51.80%	52.20%
Operating segments | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0
Gross profit	$ (2,494)	$ (8,323)	$ (8,738)	$ (13,035)
Gross margin

Operating Segments and Enterp_5

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. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 171,575	$ 180,869	$ 494,939	$ 581,950
Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	128,339	139,365	370,970	467,056
Systems
Disaggregation of Revenue [Line Items]
Revenues	43,236	41,504	123,969	114,894
Taiwan
Disaggregation of Revenue [Line Items]
Revenues	42,975	36,838	112,816	139,927
Taiwan | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	39,155	32,227	103,368	119,937
Taiwan | Systems
Disaggregation of Revenue [Line Items]
Revenues	3,820	4,611	9,448	19,990
United States
Disaggregation of Revenue [Line Items]
Revenues	43,725	38,089	124,129	94,978
United States | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	31,182	25,909	86,954	67,424
United States | Systems
Disaggregation of Revenue [Line Items]
Revenues	12,543	12,180	37,175	27,554
China
Disaggregation of Revenue [Line Items]
Revenues	21,750	36,728	72,357	124,862
China | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	10,779	27,973	45,771	101,342
China | Systems
Disaggregation of Revenue [Line Items]
Revenues	10,971	8,755	26,586	23,520
South Korea
Disaggregation of Revenue [Line Items]
Revenues	35,075	28,937	83,713	85,193
South Korea | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	31,805	28,118	77,832	80,417
South Korea | Systems
Disaggregation of Revenue [Line Items]
Revenues	3,270	819	5,881	4,776
Malaysia
Disaggregation of Revenue [Line Items]
Revenues	5,964	6,509	23,911	44,952
Malaysia | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	5,778	6,272	22,279	43,946
Malaysia | Systems
Disaggregation of Revenue [Line Items]
Revenues	186	237	1,632	1,006
Japan
Disaggregation of Revenue [Line Items]
Revenues	6,964	7,692	25,873	27,011
Japan | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	2,976	4,533	14,014	16,034
Japan | Systems
Disaggregation of Revenue [Line Items]
Revenues	3,988	3,159	11,859	10,977
Europe
Disaggregation of Revenue [Line Items]
Revenues	9,296	11,798	29,538	28,284
Europe | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	2,583	3,682	8,424	9,888
Europe | Systems
Disaggregation of Revenue [Line Items]
Revenues	6,713	8,116	21,114	18,396
Singapore
Disaggregation of Revenue [Line Items]
Revenues	3,677	10,357	11,840	28,361
Singapore | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	2,752	7,983	7,670	23,398
Singapore | Systems
Disaggregation of Revenue [Line Items]
Revenues	925	2,374	4,170	4,963
Rest of the world
Disaggregation of Revenue [Line Items]
Revenues	2,149	3,921	10,762	8,382
Rest of the world | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	1,329	2,668	4,658	4,670
Rest of the world | Systems
Disaggregation of Revenue [Line Items]
Revenues	820	1,253	6,104	3,712
Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	169,507	176,444	485,920	570,478
Products transferred at a point in time | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	127,731	138,602	368,939	464,139
Products transferred at a point in time | Systems
Disaggregation of Revenue [Line Items]
Revenues	41,776	37,842	116,981	106,339
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	2,068	4,425	9,019	11,472
Products and services transferred over time | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	608	763	2,031	2,917
Products and services transferred over time | Systems
Disaggregation of Revenue [Line Items]
Revenues	1,460	3,662	6,988	8,555
Foundry & Logic
Disaggregation of Revenue [Line Items]
Revenues	96,366	90,605	279,895	327,106
Foundry & Logic | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	96,366	90,605	279,895	327,106
Foundry & Logic | Systems
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
DRAM
Disaggregation of Revenue [Line Items]
Revenues	27,478	34,922	77,832	106,202
DRAM | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	27,478	34,922	77,832	106,202
DRAM | Systems
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Flash
Disaggregation of Revenue [Line Items]
Revenues	4,495	13,838	13,243	33,748
Flash | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	4,495	13,838	13,243	33,748
Flash | Systems
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Systems
Disaggregation of Revenue [Line Items]
Revenues	43,236	41,504	123,969	114,894
Systems | Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Systems | Systems
Disaggregation of Revenue [Line Items]
Revenues	$ 43,236	$ 41,504	$ 123,969	$ 114,894

Uncategorized Items - form-2023

Label	Element	Value
Increase (Decrease) in Deferred Government Grant	form_IncreaseDecreaseInDeferredGovernmentGrant	$ 0