PDF Solutions® Reports First Quarter 2023 Results

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)

       
       March 31,   December 31, 
   2023      2022 
       
ASSETS        
Current assets:        
Cash and cash equivalents $114,382  $119,624 
Short-term investments  19,146   19,557 
Accounts receivable, net  47,048   42,164 
Prepaid expenses and other current assets  12,565   12,063 
Total current assets  193,141   193,408 
Property and equipment, net  41,723   40,174 
Operating lease right-of-use assets, net  5,712   6,002 
Goodwill  14,123   14,123 
Intangible assets, net   17,177       18,055  
Deferred tax assets, net     90       64  
Other non-current assets     7,322       6,845  
Total assets   $ 279,288     $ 278,671  
             
LIABILITIES AND STOCKHOLDERS’ EQUITY             
Current liabilities:            
Accounts payable   $ 6,289     $ 6,388  
Accrued compensation and related benefits     13,869       16,948  
Accrued and other current liabilities     5,868       5,581  
Operating lease liabilities ‒ current portion     1,572       1,412  
Deferred revenues ‒ current portion     26,322       26,019  
Billings in excess of recognized revenues     342       1,852  
Total current liabilities     54,262       58,200  
Long-term income taxes payable     2,637       2,622  
Non-current operating lease liabilities     5,597       5,932  
Other non-current liabilities     3,367       1,905  
Total liabilities     65,863       68,659  
               
Stockholders’ equity:              
Common stock and additional paid-in-capital     454,313       447,421  
Treasury stock at cost     (137,810 )     (133,709 )
Accumulated deficit     (100,795 )     (101,150 )
Accumulated other comprehensive loss     (2,283 )     (2,550 )
Total stockholders’ equity     213,425       210,012  
Total liabilities and stockholders’ equity   $ 279,288     $ 278,671  

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