FormFactor (FORM) stock soared 13.10% in after-hours trading on Wednesday, following the release of its impressive third-quarter financial results that exceeded analyst expectations across multiple metrics. The semiconductor test and measurement supplier demonstrated strong performance and provided an optimistic outlook for the coming quarter.

The company reported Q3 revenue of $202.7 million, surpassing the IBES estimate of $200 million. FormFactor's adjusted net income reached $25.7 million, significantly beating the expected $19.3 million. The GAAP net income for the quarter stood at $15.7 million. Operational efficiency was evident with a gross margin of 39.8% and a robust free cash flow of $19.7 million.

FormFactor's CEO highlighted that the company's third-quarter revenue, gross margin, and earnings per share all exceeded both second-quarter results and the midpoint of their outlook range. Notably, DRAM probe card sales recorded double-digit sequential growth, reaching a new record primarily due to increased demand for HBM (High Bandwidth Memory) products. Looking ahead, the company expects to deliver even stronger results in the fourth quarter, further boosting investor confidence in FormFactor's growth trajectory in the semiconductor testing market.