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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