PDF SOLUTIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except per share amounts)
| Three months ended | Nine months ended | |||||||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||||||
| 2019 | 2019 | 2018 | 2019 | 2018 | ||||||||||||||||
| Revenues: | ||||||||||||||||||||
| Solutions | $ | 16,208 | $ | 13,429 | $ | 13,976 | $ | 46,298 | $ | 47,431 | ||||||||||
| Gainshare performance incentives | 5,706 | 7,139 | 6,237 | 16,725 | 18,638 | |||||||||||||||
| Total revenues | 21,914 | 20,568 | 20,213 | 63,023 | 66,069 | |||||||||||||||
| Cost of Solutions: | ||||||||||||||||||||
| Direct costs of solutions | 8,571 | 7,689 | 10,539 | 23,984 | 32,651 | |||||||||||||||
| Amortization of acquired technology | 144 | 143 | 144 | 431 | 431 | |||||||||||||||
| Total cost of solutions | 8,715 | 7,832 | 10,683 | 24,415 | 33,082 | |||||||||||||||
| Gross profit | 13,199 | 12,736 | 9,530 | 38,608 | 32,987 | |||||||||||||||
| Operating expenses: | ||||||||||||||||||||
| Research and development | 8,435 | 7,312 | 6,755 | 23,993 | 21,100 | |||||||||||||||
| Selling, general and administrative | 5,990 | 6,940 | 5,507 | 19,940 | 17,801 | |||||||||||||||
| Amortization of other acquired intangible assets | 174 | 154 | 108 | 436 | 326 | |||||||||||||||
| Restructuring charges | — | — | — | 92 | — | |||||||||||||||
| Total operating expenses | 14,599 | 14,406 | 12,370 | 44,461 | 39,227 | |||||||||||||||
| Loss from operations | (1,400 | ) | (1,670 | ) | (2,840 | ) | (5,853 | ) | (6,240 | ) | ||||||||||
| Interest and other income (expense), net | 202 | 111 | 223 | 307 | 283 | |||||||||||||||
| Loss before income taxes | (1,198 | ) | (1,559 | ) | (2,617 | ) | (5,546 | ) | (5,957 | ) | ||||||||||
| Income tax benefit | (511 | ) | (849 | ) | (535 | ) | (1,458 | ) | (1,355 | ) | ||||||||||
| Net loss | $ | (687 | ) | $ | (710 | ) | $ | (2,082 | ) | $ | (4,088 | ) | $ | (4,602 | ) | |||||
| Net loss per share: | ||||||||||||||||||||
| Basic | $ | (0.02 | ) | $ | (0.02 | ) | $ | (0.06 | ) | $ | (0.13 | ) | $ | (0.14 | ) | |||||
| Diluted | $ | (0.02 | ) | $ | (0.02 | ) | $ | (0.06 | ) | $ | (0.13 | ) | $ | (0.14 | ) | |||||
| Weighted average common shares: | ||||||||||||||||||||
| Basic | 32,392 | 32,339 | 32,184 | 32,405 | 32,105 | |||||||||||||||
| Diluted | 32,392 | 32,339 | 32,184 | 32,405 | 32,105 | |||||||||||||||
