PDF Solutions® Reports Third Quarter 2024 Results

PDF SOLUTIONS, INC.
RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME (UNAUDITED)
(In thousands, except per share amounts)

               
  Three months ended  Nine months ended
  September 30,  June 30,  September 30,  September 30,  September 30,
  2024
  2024
  2023
  2024
  2023
              
GAAP net income (loss)$2,206  $1,705  $(4,972) $3,518  $2,218 
Adjustments to reconcile GAAP net income (loss) to non-GAAP net income:              
Stock-based compensation expense 6,730   5,700   5,999   18,540   15,561 
Amortization of acquired technology under costs of revenues 584   584   574      1,752       1,680  
Amortization of other acquired intangible assets   196       259       328       714       979  
Expenses of arbitration (1)               226             2,525  
Acquisition-related costs (2)               33             209  
Proceeds from the sale of previously written-off property and equipment   (55 )           (105 )     (55 )     (105 )
Tax impact of valuation allowance for deferred tax assets and reconciling items (3)   262       (1,159 )     5,904       (1,710 )     (314 )
Non-GAAP net income $ 9,923     $ 7,089     $ 7,987     $ 22,759     $ 22,753  
                             
GAAP net income (loss) per diluted share $ 0.06     $ 0.04     $ (0.13 )   $ 0.09     $ 0.06  
Non-GAAP net income per diluted share $ 0.25     $ 0.18     $ 0.20     $ 0.58     $ 0.58  
                             
Weighted average common shares used in GAAP net income (loss) per diluted share calculation   39,105       38,925       38,187       39,028       38,977  
Weighted average common shares used in non-GAAP net income per diluted share calculation   39,105       38,925       38,992       39,028       38,977  
                                       

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