PDF Solutions® Reports Second 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)

       
       June 30,   December 31, 
   2023
     2022
       
ASSETS        
Current assets:        
Cash and cash equivalents $100,360  $119,624 
Short-term investments  23,678   19,557 
Accounts receivable, net  61,451   42,164 
Prepaid expenses and other current assets  18,864   12,063 
Total current assets  204,353   193,408 
Property and equipment, net  42,990   40,174 
Operating lease right-of-use assets, net  5,389   6,002 
Goodwill  14,123   14,123 
Intangible assets, net  16,298       18,055  
Deferred tax assets, net     76       64  
Other non-current assets     7,043       6,845  
Total assets   $ 290,272     $ 278,671  
             
LIABILITIES AND STOCKHOLDERS’ EQUITY             
Current liabilities:            
Accounts payable   $ 2,279     $ 6,388  
Accrued compensation and related benefits     10,994       16,948  
Accrued and other current liabilities     5,497       5,581  
Operating lease liabilities ‒ current portion     1,538       1,412  
Deferred revenues ‒ current portion     29,915       26,019  
Billings in excess of recognized revenues     1,854       1,852  
Total current liabilities     52,077       58,200  
Long-term income taxes payable     2,430       2,622  
Non-current operating lease liabilities     5,260       5,932  
Other non-current liabilities     6,335       1,905  
Total liabilities     66,102       68,659  
               
Stockholders’ equity:              
Common stock and additional paid-in-capital     459,078       447,421  
Treasury stock at cost     (138,278 )     (133,709 )
Accumulated deficit     (93,960 )     (101,150 )
Accumulated other comprehensive loss     (2,670 )     (2,550 )
Total stockholders’ equity     224,170       210,012  
Total liabilities and stockholders’ equity   $ 290,272     $ 278,671  

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