FormFactor, Inc. (NASDAQ:FORM) Q4 2023 Earnings Call Transcript

Mike Slessor: Yes. Yes. I think as the leading manufacturer adopts advanced packaging, that’s really the discontinuity where they adopt MEMS probes. And it’s an interesting case because of their large die sizes, they haven’t really needed to adopt MEMS probes. But as they move to the Coos advanced packaging technology, MEMS probes are an absolute must. And so that’s an opportunity, as you know, for us and our primary competitor in foundry and logic. Those qualifications are happening right now. I think the – and pilot production right now. I’d expect over time that to be an application in a customer where shares in this two supplier kind of window. We typically talk about it as a two third, one third. So most customers like to balance at 50-50, but there’s often places where either us or our competitor have some degree of differentiation.

And so it never quite works out to be 50-50. So I think you’re going to start to see that in a significant way here in 2024. But of course, still the majority of silicon from that customer is not going to be on advanced packaging. That’s a small but very lucrative part of their overall product portfolio. I still expect monolithic GPUs at least for 2024 to continue to stay on the legacy broke card technologies.

Krish Sankar: Got it. Got it. Thank you.

Operator: This does conclude the question-and-answer session of today’s program. I’d like to hand the program back to Mike Slessor for any further remarks.

Mike Slessor: Thanks, everybody, for joining us today, and we’ll talk to you again at some point in the spring, if not, at our next earnings call. Take care.

Operator: Thank you, ladies and gentlemen, for your participation in today’s conference. This does conclude the program. You may now disconnect. Good day.+