PDF Solutions® Reports Fourth Quarter and Full Year 2021 Results

PDF SOLUTIONS, INC.
RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET INCOME (LOSS) (UNAUDITED)
(In thousands, except per share amounts)

   Three months ended   Year ended
   December 31,   September 30,  December 31,   December 31,   December 31, 
   2021   2021   2020   2021   2020 
               
GAAP net loss $(7,000) $(2,407) $(33,449) $(21,488) $(40,363)
Adjustments to reconcile GAAP net loss to non-GAAP net income (loss):               
Stock-based compensation expense  3,457   3,363   2,987   12,931   12,463 
Amortization of acquired technology  554   454       274       2,079       705  
Amortization of other acquired intangible assets     313       314       220       1,255       741  
Expenses of arbitration (1)     757       341       268       1,951       1,098  
Write-down in value of property and equipment (2)     3,183             179       3,183       490  
Acquisition-related costs (3)                 752             752  
Tax impact of reconciling items (4)                 1,931              
Tax impact of the CARES Act (5)                 1,099             (1,162 )
Tax impact of valuation allowance for deferred tax assets (6)     1,539       334       24,471       3,091       24,471  
Non-GAAP net income (loss)   $ 2,803     $ 2,399     $ (1,268 )   $ 3,002     $ (805 )
                               
GAAP net loss per diluted share   $ (0.19 )   $ (0.06 )   $ (0.91 )   $ (0.58 )   $ (1.17 )
Non-GAAP net income (loss) per diluted share   $ 0.07     $ 0.06     $ (0.03 )   $ 0.08     $ (0.02 )
                               
Shares used in net income (loss) per diluted share calculation     38,430       37,916       36,727       37,901       34,458  
                                         

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