PDF Solutions® Reports Fourth Quarter and Full Year 2022 Results

About PDF Solutions
PDF Solutions (NASDAQ: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor ecosystem to improve the yield and quality of their products and operational efficiency for increased profitability. The Company’s products and services are used by Fortune 500 companies across the semiconductor ecosystem to achieve smart manufacturing goals by connecting and controlling equipment, collecting data generated during manufacturing and test operations, and performing advanced analytics and machine learning to enable profitable, high-volume manufacturing.

Founded in 1991, PDF Solutions is headquartered in Santa Clara, California, with operations across North America, Europe, and Asia. The Company (directly or through one or more subsidiaries) is an active member of SEMI, INEMI, TPCA, IPC, the OPC Foundation, and DMDII. For the latest news and information about PDF Solutions or to find office locations, visit https://www.pdf.com.

PDF Solutions and the PDF Solutions logo are trademarks or registered trademarks of PDF Solutions, Inc. or its subsidiaries.

PDF SOLUTIONS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In thousands)

  December 31, 
  2022  2021
      
ASSETS     
Current assets:     
Cash and cash equivalents$119,624  $27,684 
Short-term investments 19,557   112,542 
Accounts receivable, net 42,164   40,087 
Prepaid expenses and other current assets 12,063   8,194 
Total current assets 193,408   188,507 
Property and equipment, net 40,174   35,295 
Operating lease right-of-use assets, net 6,002   5,408 
Goodwill 14,123   14,123 
Intangible assets, net 18,055   21,239 
Deferred tax assets, net  64       75  
Other non-current assets   6,845       9,121  
Total assets $ 278,671     $ 273,768  
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Current liabilities:          
Accounts payable $ 6,388     $ 5,554  
Accrued compensation and related benefits   16,948       9,495  
Accrued and other current liabilities   5,581       3,328  
Operating lease liabilities ‒ current portion   1,412       1,758  
Deferred revenues ‒ current portion   26,019       23,691  
Billings in excess of recognized revenues   1,852        
Total current liabilities   58,200       43,826  
Long-term income taxes payable   2,622       2,656  
Non-current operating lease liabilities   5,932       5,258  
Non-current portion of deferred revenues   1,905       2,443  
Total liabilities   68,659       54,183  
           
Stockholders’ equity:          
Common stock and additional paid-in-capital   447,421       423,075  
Treasury stock at cost   (133,709 )     (104,705 )
Accumulated deficit   (101,150 )     (97,721 )
Accumulated other comprehensive loss   (2,550 )     (1,064 )
Total stockholders’ equity   210,012       219,585  
Total liabilities and stockholders’ equity $ 278,671     $ 273,768  
               

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