SILVACO GROUP, INC. | |||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME | |||||||||||||||
(Unaudited, in thousands except share and per share amounts) | |||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Revenue: | |||||||||||||||
Software license revenue | $ | 11,023 | $ | 8,845 | $ | 23,281 | $ | 19,510 | |||||||
Maintenance and service | 3,937 | 3,680 | 7,568 | 7,306 | |||||||||||
Total revenue | 14,960 | 12,525 | 30,849 | 26,816 | |||||||||||
Cost of revenue | 4,861 | 2,373 | 6,834 | 4,398 | |||||||||||
Gross profit | 10,099 | 10,152 | 24,015 | 22,418 | |||||||||||
Operating expenses: | |||||||||||||||
Research and development | 7,707 | 3,169 | 11,323 | 6,544 | |||||||||||
Selling and marketing | 7,171 | 2,930 | 10,483 | 5,735 | |||||||||||
General and administrative | 18,314 | 4,258 | 22,914 | 8,811 | |||||||||||
Estimated litigation claim | 14,696 | | 14,696 | | |||||||||||
Total operating expenses | 47,888 | 10,357 | 59,416 | 21,090 | |||||||||||
Operating (loss) income | (37,789 | ) | (205 | ) | (35,401 | ) | 1,328 | ||||||||
Loss on debt extinguishment | (718 | ) | | (718 | ) | | |||||||||
Interest income | 682 | 2 | 682 | 3 | |||||||||||
Interest and other expense, net | (349 | ) | (240 | ) | (554 | ) | (572 | ) | |||||||
(Loss) income before income tax provision | (38,174 | ) | (443 | ) | (35,991 | ) | 759 | ||||||||
Income tax provision (benefit) | 214 | (112 | ) | 1,019 | 276 | ||||||||||
Net (loss) income | $ | (38,388 | ) | $ | (331 | ) | $ | (37,010 | ) | $ | 483 | ||||
(Loss) earnings per share attributable to common stockholders: | |||||||||||||||
Basic and diluted | $ | (1.55 | ) | $ | (0.02 | ) | $ | (1.66 | ) | $ | 0.02 | ||||
Weighted average shares used in computing per share amounts: | |||||||||||||||
Basic and diluted | 24,811,112 | 20,000,000 | 22,405,557 | 20,000,000 | |||||||||||
Silvaco Reports Second Quarter 2024 Financial Results
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