PDF Solutions® Reports Fourth Quarter and Full Year 2022 Results

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

  Three months ended   Year ended
  December 31,   September 30,   December 31,   December 31,   December 31, 
  2022  2022  2021  2022  2021
               
GAAP net income (loss)$483  $1,385  $(7,000) $(3,429) $(21,488)
Adjustments to reconcile GAAP net income (loss) to non-GAAP net income:               
Stock-based compensation expense 5,088   5,136   3,457   19,649   12,931 
Amortization of acquired technology under costs of revenues 553   553   554   2,213   2,079 
Amortization of other acquired intangible assets   325       318       313       1,270       1,255  
Expenses of arbitration (1)   852       556       757       1,895       1,951  
Write-down in value of property and equipment (2)               3,183             3,183  
Tax impact of valuation allowance for deferred tax assets and reconciling items (3)   98       (373 )     1,539       1,326       3,091  
Non-GAAP net income $ 7,399     $ 7,575     $ 2,803     $ 22,924     $ 3,002  
                               
GAAP net income (loss) per diluted share $ 0.01     $ 0.04     $ (0.19 )   $ (0.09 )   $ (0.58 )
Non-GAAP net income per diluted share $ 0.19     $ 0.20     $ 0.07     $ 0.60     $ 0.08  
                               
Weighted average common shares used in GAAP net income (loss) per diluted share calculation   38,276       38,054       37,348       37,309       37,138  
Weighted average common shares used in Non-GAAP net income per diluted share calculation   38,276       38,054       38,430       38,130       37,901  
                                       

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