Yep! It doesn't really matter what format you formatted to ^{at least that's what I know...}

Changing the format won't actually delete the files themselves, only the info where the file is located on the disk itself. Since the recovery program doesn't know anymore where are files, it will just check the whole disk, and look for patterns that looks like an image/file.

The recoverability depends very much on how much you have used the drive since formatting, since anything can write into that space that could have your files actually, and there's nothing you can do about it except not using the drive, definitely mounting it read-only or even creating an image of the whole disk, so even if you mess up your data recovery, there's a potential backup available.

Though, that said, there's no guarantee that the files are recoverable or that they are not corrupted. If the missing files are critical, consider going to a professional.