Formfactor, Inc. · NASDAQ:FORM
Formfactor — Investor Presentation (January 2014)
11 slides from Formfactor's investor presentation, January 2014
Slide 1: FormFactor Investor Presentation
FormFactor Investor Presentation January 2014
Slide 2: FormFactor at a Glance
FormFactor at a Glance ▪ Founded 1993, IPO 2003 (NASDAQ: FORM) ▪ Largest Probe Card supplier in the Semiconductor Industry ▫ TTM Revenue - between $229M to $231M ▫ Leading supplier of advanced probe cards ~ $900M market in 2012 ▪ Headquarters: Livermore, California ▫ ~1000 employees Worldwide ▫ Sale
Slide 3: FormFactor's Place in the Semiconductor Manufacturing Process
FormFactor’s Place in the Semiconductor Manufacturing Process F R O N T E N D Litho Etch Deposition Metrology Probe Card Wafer Test Wafer Dice B A C K E N D Assembly Package Package & Package Burn In Final Test PAGE: 3 ©2014 FormFactor Inc
Slide 4: Probe Cards – A Device-Specific Consumable
Probe Cards – A Device-Specific Consumable Testing chips while still on the silicon wafer, prevents the packaging of “bad” chips MEMS MicroSpring® Interconnects Chip (Integrated Circuit or IC) Flash DRAM Microprocessors, Memory Memory & other LOGIC PAGE: 4 ©2014 FormFactor Inc
Slide 5: Advanced Probe Card Segments & FFI Market Share
Advanced Probe Card Segments & FFI Market Share DRAM DRAM $225M $264M 46% SOC SOC $453M $576M FLASH FLASH 13% $227 $343 29% Source: VLSI, FormFactor 2013 2012 = $905M 2017 = $1183M Market Leadership in Advanced SoC and Memory Segments PAGE: 5 ©2014 FormFactor Inc
Slide 6: Wafer Test Market Today
Wafer Test Market Today ▪ Mobile computing is driving demand for logic and memory ▫ The PC is no longer the industry driver ▪ High performance mobile processors drive advanced wafer test and packaging ▫ Qualcomm moves beyond Intel in scaling package technology ▪ Mobile DRAM demand off sets losses fr
Slide 7: DRAM Growth Now Driven By Mobile Applications
DRAM Growth Now Driven By Mobile Applications 12,000,000 Smart Phones Mobile Computing & Cloud 106 MB Drive DRAM Bit Growth 10,000,000 Tablets Servers Smart Phones > Desktop+Mobile PC 8,000,000 PC Mobile 2015 PC Desktop 6,000,000 Smart Phones > Desktop PC 2013 4,000,000 2,000,000 0 2010 2011 2012 20
Slide 8: SoC Market Growth Focused In Applications where FormFactor Leads
SoC Market Growth Focused In Applications where FormFactor Leads ~$100M of Growth Source: Gartner, VLSI, FormFactor PAGE: 8 ©2014 FormFactor Inc
Slide 9: FormFactor's Customer Value Proposition
FormFactor’s Customer Value Proposition ▪ Technology to meet accelerating customer roadmaps ▫ MEMS technology leadership enables wafer test solutions ▪ Broadest probe card product portfolio in the semiconductor industry ▪ Industry’s largest service and support infrastructure worldwide ▫ Technical su
Slide 10: Fourth Quarter 2013 Update
Fourth Quarter 2013 Update ▪ Qualified at a 2nd Korean DRAM customer ▫ Now qualified at all DRAM suppliers ▫ Begin to contribute to revenue in Q1’14 ▪ SK hynix update ▫ Estimate return to normal probe card demand in Q1’14 timeframe ▫ Schedule still appears to be accurate ▪ Supply chain issues in Jap
Slide 11: Summary
Summary ▪ Market share leader today in the growing advanced probe card market ▪ Technology leadership in a time of accelerating customer requirements creates growth opportunities ▪ Transition from PC-centric computing to mobile-centric computing creates significant growth opportunities for FormFacto