Silvaco Reports First Quarter 2024 Financial Results
SILVACO GROUP, INC.
GAAP to Non-GAAP Reconciliation
(Unaudited, in thousands except per share amounts)
| | |
Three Months Ended | | | |
3/31/2024 | |
12/31/2023 | |
3/31/2023 | | | | | | | | | | | | | | | |
GAAP Research and development | |
$ |
3,616 | | |
$ |
3,337 | | |
$ |
3,375 | | | Less: Amortization of acquired intangible assets | | | 70 | | | | 82 | | | | 101 | | |
Non-GAAP Research and development | |
$ |
3,546 | | |
$ |
3,255 | | |
$ |
3,274 | | | | | | | |
GAAP Sales and marketing | |
$ |
3,312 | | |
$ |
3,833 | | |
$ |
2,805 | | | Less: IPO preparation costs | | | 127 | | | | — | | | | — | | |
Non-GAAP Sales and marketing | |
$ |
3,185 | | |
$ |
3,833 | | |
$ |
2,805 | | |
GAAP General and administrative | |
$ |
4,600 | | |
$ |
4,570 | | |
$ |
4,553 | | | Less: Acquisition-related litigation costs | | | 594 | | | | 515 | | | | 236 | | | Less: IPO preparation costs | | | 139 | | | | 45 | | | | 268 | | |
Non-GAAP General and administrative | |
$ |
3,867 | | |
$ |
4,010 | | |
$ |
4,049 | | | | | | | |
GAAP Operating expenses | |
$ |
11,528 | | |
$ |
11,740 | | |
$ |
10,733 | | | Less: Acquisition-related litigation costs | | | 594 | | | | 515 | | | | 236 | | | Less: IPO preparation costs | | | 266 | | | | 45 | | | | 268 | | | Less: Amortization of acquired intangible assets | | | 70 | | | | 82 | | | | 101 | | |
Non-GAAP Operating expenses | |
$ |
10,598 | | |
$ |
11,098 | | |
$ |
10,128 | | | | | | | |
GAAP Income (loss) from operations | |
$ |
2,388 | | |
$ |
(1,936 |
) | |
$ |
1,533 | | | Plus: Acquisition-related litigation costs | | | 594 | | | | 515 | | | | 236 | | | Plus: IPO preparation costs | | | 266 | | | | 45 | | | | 268 | | | Plus: Amortization of acquired intangible assets | | | 70 | | | | 82 | | | | 101 | | |
Non-GAAP Income (loss) from operations | |
$ |
3,318 | | |
$ |
(1,294 |
) | |
$ |
2,138 | | | | | | | |
GAAP Net income (loss) | |
$ |
1,378 | | |
$ |
(2,247 |
) | |
$ |
814 | | | Plus: Amortization of acquired intangible assets | | | 70 | | | | 82 | | | | 101 | | | Plus: Acquisition-related litigation costs | | | 594 | | | | 515 | | | | 236 | | | Plus: IPO preparation costs | | | 266 | | | | 45 | | | | 268 | | | Plus: Change in fair value of consideration | | | (8 | ) | | | (7 | ) | | | 276 | | | Plus: Foreign exchange (gain) loss | | | 130 | | | | (3 | ) | | | 247 | | | Plus: Income tax effect of non-GAAP adjustment | | | (33 | ) | | | (27 | ) | | | (23 | ) | |
Non-GAAP Net income (loss) | |
$ |
2,397 | | |
$ |
(1,642 |
) | |
$ |
1,919 | | |
GAAP Net income (loss) per share: | | | | | Basic and diluted: | | $ | 0.07 | | | $ | (0.11 | ) | | $ | 0.04 | | | | | | | | | | | | | | | |
|
