PDF SOLUTIONS INC

Listed Company

PDFSCIK 0001120914NasdaqLarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-640.0K

Total Assets

$418.70M

Equity

$271.02M

Shares Out

39.89M

Op. Cash Flow

$24.05M

Business

PDF SOLUTIONS INC provides comprehensive data solutions to semiconductor and electronics companies to improve product yield, quality, and operational efficiency. It offers analytics and integrated yield ramp products and services, including on‑premise software, SaaS, hardware systems, professional services, Characterization services and value‑based Gainshare arrangements. Key offerings and segments include Exensio analytics, Cimetrix connectivity and control, Design‑for‑Inspection (DFI) and Characterization Vehicle (CV) systems with associated testers and services. The company serves foundries, IDMs, fabless firms, OSATs, equipment makers and others worldwide through direct sales, service teams and strategic alliances.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	219	179	166	149	111
Costs of revenues	61	54	52	48	44
Research and development	64	54	51	56	44
Selling, general, and administrative	85	70	62	45	38
Amortization of acquired intangible assets	4	896,000	1	1	1
Income (loss) from operations	6	935,000	−151,000	—	—
Interest expense	−4	0	0	—	—
Interest income and other, net	1	6	5	—	−683,000
Income before income tax expense	3	7	5	470,000	−18
Income tax expense	−4	−3	−2	−4	−3
Net income (loss)	−640,000	4	3	−3	−21
Foreign currency translation adjustments, net of tax	1	−1	148,000	−1	−825,000
Change in unrealized loss related to available-for-sale debt securities, net of tax	−9,000	−1,000	15,000	7,000	−14,000
Total other comprehensive income (loss)	1	−1	163,000	−1	−839,000
Comprehensive income	840,000	3	3	−5	−22
Basic (in dollars per share)	−0.02	0.11	0.08	−0.09	−0.58
Diluted (in dollars per share)	−0.02	0.1	0.08	−0.09	−0.58
Basic (in shares)	39	39	38	37	37
Diluted (in shares)	39	39	39	37	37

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	42	91	99	120	28
Short-term investments	0	24	37	20	113
Accounts receivable, net of allowance for credit losses	83	74	45	42	40
Prepaid expenses and other current assets	39	17	17	12	8
Total current assets	164	206	198	193	189
Property and equipment, net	82	48	37	40	35
Operating lease right-of-use assets, net	5	4	5	6	5
Goodwill	95	15	15	14	14
Intangible assets, net	52	12	—	—	—
Deferred tax assets, net	69,000	43,000	157,000	64,000	75,000
Other non-current assets	21	30	19	7	9
Total assets	419	315	290	279	274
Accounts payable	17	8	3	6	6
Accrued compensation and related benefits	22	17	15	17	9
Accrued and other current liabilities	9	9	—	—	—
Operating lease liabilities current portion	2	2	2	1	2
Deferred revenues current portion	19	25	—	—	24
Current portion of long-term debt, net	2	0	—	—	—
Total current liabilities	72	61	51	58	44
Long-term income taxes	4	3	3	3	3
Operating lease liabilities non-current portion	4	4	5	6	5
Long-term debt, net	65	0	—	—	—
Other non-current liabilities	−3	−2	3	2	2
Total liabilities	148	69	61	69	54
Commitments and contingencies (Note 8)	—	—	—	—	—
Preferred stock, $0.00015 par value, 5,000 shares authorized, no shares issued and outstanding	0	0	—	—	—
Common stock, $0.00015 par value, 70,000 shares authorized; shares issued 51,726 and 50,717, respectively; shares outstanding 39,541 and 38,801, respectively	6,000	6,000	6,000	6,000	6,000
Additional paid-in capital	534	503	473	447	423
Treasury stock, at cost, 12,185 and 11,916 shares, respectively	−166	−159	—	—	—
Accumulated deficit	−95	−94	−98	−101	−98
Accumulated other comprehensive loss	−2	−4	−2	−3	−1
Total stockholders equity	271	246	229	210	220
Total liabilities and stockholders equity	419	315	290	279	274

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	26	25	21	20	13
Depreciation and amortization	4	4	5	6	6
Amortization of acquired intangible assets	7	3	4	—	—
Amortization of costs capitalized to obtain revenue contracts	3	3	2	2	700,000
Net accretion of discounts on short-term investments	−279,000	−2	−1	−187,000	−14,000
Loss on damaged equipment in-transit, net of (recovery) from previously written-off property and equipment	−641,000	586,000	0	—	—
Deferred taxes	895,000	−74,000	−108,000	—	—
Other	−103,000	2	−198,000	−187,000	161,000
Accounts receivable	−6	−29	−3	−2	−6
Prepaid expenses and other current assets	−16	−2	−7	−6	1
Operating lease right-of-use assets	2	2	1	2	1
Other non-current assets	7	−4	−4	2	−1
Accounts payable	5	3	−2	−1	−86,000
Accrued compensation and related benefits	5	2	−2	8	1
Accrued and other liabilities	−3	2	110,000	—	—
Deferred revenues	−7	−3	−640,000	2	5
Operating lease liabilities	−2	−2	−1	−2	−2
Net cash provided by operating activities	24	10	15	32	4
Proceeds from maturities and sales of short-term investments	27	68	44	—	—
Purchases of short-term investments	−3	−54	−60	−58	−169
Purchase of convertible promissory note	0	−2	0	—	—
Purchases of property and equipment	−33	−17	−11	−8	−4
Prepayment for the purchase of property and equipment	−214,000	−630,000	−89,000	—	—
Proceeds from sale and recovery from previously written-off property and equipment	641,000	55,000	105,000	—	—
Purchases of intangible assets	0	0	−150,000	−150,000	—
Payment for business acquisition, net of cash acquired	−130	0	−2	—	−3
Net cash used in investing activities	−137	−6	−29	85	−5
Proceeds from long-term debt, net of debt discount	70	0	0	—	—
Payments of debt issuance costs	−900,000	0	0	—	—
Repayments of long-term debt	−2	0	0	—	—
Proceeds from exercise of stock options and employee stock purchase plan	4	4	4	—	—
Payments for taxes related to net share settlement of equity awards	−6	−9	−9	−7	−4
Repurchases of common stock	−244,000	−7	−743,000	−22	−5
Net cash provided by (used in) financing activities	65	−11	−6	−24	−6
Net change in cash and cash equivalents	−48	−8	−21	92	−6
Effect of exchange rate changes on cash and cash equivalents	371,000	−918,000	−365,000	−650,000	−182,000
Income taxes	3	3	4	—	—
Amounts included in the measurement of operating lease liabilities	2	2	2	2	2
Interest on long-term debt	4	0	0	—	—
Prepayments for purchase of property and equipment transferred from prepaid assets to property and equipment	505,000	89,000	66,000	—	—
Property and equipment received and accrued in accounts payable and accrued and other current liabilities	12	7	2	3	1
Net carrying value of property and equipment sold and expensed in cost of revenues, and property and equipment transferred to sales-type leases and from other non-current assets, net	3	7	8	—	—
Stock-based compensation capitalized as property and equipment	432,000	364,000	72,000	—	—
Operating lease liabilities arising from obtaining right-of-use assets	2	718,000	131,000	3	161,000

Filings

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