PDF Solutions® Reports Third Quarter 2024 Results

About PDF Solutions

PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystem to improve the yield and quality of their products and operational efficiency for increased profitability. The Company’s products and services are used by Fortune 500 companies across the semiconductor and electronics ecosystem to achieve smart manufacturing goals by connecting and controlling equipment, collecting data generated during manufacturing and test operations, and performing advanced analytics and machine learning to enable profitable, high-volume manufacturing.

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,
  2024
  2023
      
ASSETS     
Current assets:     
Cash and cash equivalents$96,428  $98,978 
Short-term investments 23,724   36,544 
Accounts receivable, net 46,668   44,904 
Prepaid expenses and other current assets 24,575   17,422 
Total current assets 191,395   197,848 
Property and equipment, net 46,019   37,338 
Operating lease right-of-use assets, net 4,360   4,926 
Goodwill 15,011   15,029 
Intangible assets, net 13,133   15,620 
Deferred tax assets, net   173       157  
Other non-current assets   37,260       19,218  
Total assets $ 307,351     $ 290,136  
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Current liabilities:          
Accounts payable $ 7,504     $ 2,561  
Accrued compensation and related benefits   13,191       14,800  
Accrued and other current liabilities   6,510       4,633  
Operating lease liabilities ‒ current portion   1,706       1,529  
Deferred revenues ‒ current portion   28,728       25,750  
Billings in excess of recognized revenues   91       1,570  
Total current liabilities   57,730       50,843  
Long-term income taxes   2,883       2,972  
Non-current operating lease liabilities   3,870       4,657  
Other non-current liabilities   2,404       2,718  
Total liabilities   66,887       61,190  
           
Stockholders’ equity:          
Common stock and additional paid-in capital   496,261       473,301  
Treasury stock, at cost   (159,018 )     (143,923 )
Accumulated deficit   (94,527 )     (98,045 )
Accumulated other comprehensive loss   (2,252 )     (2,387 )
Total stockholders’ equity   240,464       228,946  
Total liabilities and stockholders’ equity $ 307,351     $ 290,136  
               

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