PDF Solutions® Reports Third 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)

      
  September 30,  December 31,
  2023
  2022
      
ASSETS     
Current assets:     
Cash and cash equivalents$111,620  $119,624 
Short-term investments 23,744   19,557 
Accounts receivable, net 40,959   42,164 
Prepaid expenses and other current assets 18,001   12,063 
Total current assets 194,324   193,408 
Property and equipment, net 37,833   40,174 
Operating lease right-of-use assets, net 5,069   6,002 
Goodwill 15,008   14,123 
Intangible assets, net 16,486   18,055 
Deferred tax assets, net 32     64  
Other non-current assets   13,701       6,845  
Total assets $ 282,453     $ 278,671  
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Current liabilities:          
Accounts payable $ 2,633     $ 6,388  
Accrued compensation and related benefits   11,502       16,948  
Accrued and other current liabilities   4,772       5,581  
Operating lease liabilities ‒ current portion   1,504       1,412  
Deferred revenues ‒ current portion   29,267       26,019  
Billings in excess of recognized revenues   240       1,852  
Total current liabilities   49,918       58,200  
Long-term income taxes payable   2,820       2,622  
Non-current operating lease liabilities   4,922       5,932  
Other non-current liabilities   3,229       1,905  
Total liabilities   60,889       68,659  
           
Stockholders’ equity:          
Common stock and additional paid-in-capital   467,310       447,421  
Treasury stock at cost   (143,587 )     (133,709 )
Accumulated deficit   (98,932 )     (101,150 )
Accumulated other comprehensive loss   (3,227 )     (2,550 )
Total stockholders’ equity   221,564       210,012  
Total liabilities and stockholders’ equity $ 282,453     $ 278,671  

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