{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Contact Point","title":"Episode 1: \"First Contact\"","html":"","width":"100%","height":180,"duration":524,"description":"EPISODE DESCRIPTIONFormFactor's Q2, the morning after: a beat-and-raise the supply chain signaled 35 hours early, a 26% snap-back, the number hiding under the guide — and three questions for management, ranked.\nFormFactor reported second-quarter 2026 results after close on July 29: a beat-and-raise on every axis, and a 26% snap-back that erased the prior week's slide. But the shape of the quarter was visible upstream — in SK hynix's capex and Advantest's tester forecast — 35 hours before the print. This episode walks the quarter the way a director would: the tape, the ledger, the customer map, and the three questions worth asking in the room.Chapters0:00 — Cold open0:25 — The quarter the supply chain called first2:20 — The number under the guide: 51, and the comp-committee lens4:00 — Ledger speed round: tariff refund, Farmers Branch's 2028 clock, CPO raised twice4:20 — The customer map: contracted, derived, or financed — and the circular-deal debate6:20 — Capacity-limited, not demand-limited — Technoprobe's $27B shadow7:00 — Three questions for management, ranked8:00 — Sign-offThe numbers that matter: 51% (the CFO's stated sustainable margin baseline) · ~300bps (tariff refund assumed in the Q3 guide, not yet in hand) · 35 hours (how far upstream the quarter was visible) · 60% (Technoprobe's raised growth guidance) · 2028 (Farmers Branch's now-public margin-accretion date)","thumbnail_url":"https://img.transistorcdn.com/QEAfxDKmwulMHl-H0cMIyrq3soN7RBpC7qfhFlwG5cA/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8zMWY3/Y2IxNzkzM2FmYTMx/NTIyYmUzZWJlYWFk/MTE3Ni5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}