| SILVACO GROUP, INC. | ||||||||||||||||
| GAAP to Non-GAAP Reconciliation | ||||||||||||||||
| (Unaudited, in thousands except per share amounts) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| Reconciliation GAAP to Non-GAAP | 6/30/2024 | 6/30/2023 | 6/30/2024 | 6/30/2023 | ||||||||||||
| GAAP Gross profit | $ | 10,099 | $ | 10,152 | $ | 24,015 | $ | 22,418 | ||||||||
| Add: Stock-based compensation | 2,467 | — | 2,467 | — | ||||||||||||
| Add: Amortization of acquired intangible assets | 249 | — | 249 | — | ||||||||||||
| Non-GAAP Gross profit | $ | 12,815 | $ | 10,152 | $ | 26,731 | $ | 22,418 | ||||||||
| GAAP Research and development | $ | 7,707 | $ | 3,169 | $ | 11,323 | $ | 6,544 | ||||||||
| Less: Stock-based compensation | (4,065 | ) | — | (4,065 | ) | — | ||||||||||
| Less: Amortization of acquired intangible assets | (47 | ) | (74 | ) | (117 | ) | (175 | ) | ||||||||
| Non-GAAP Research and Development | $ | 3,595 | $ | 3,095 | $ | 7,141 | $ | 6,369 | ||||||||
| GAAP Sales and marketing | $ | 7,171 | $ | 2,930 | $ | 10,483 | $ | 5,735 | ||||||||
| Less: Stock-based compensation | (3,552 | ) | — | (3,552 | ) | — | ||||||||||
| Less: Amortization of acquired intangible assets | (39 | ) | — | (178 | ) | — | ||||||||||
| Non-GAAP Sales and marketing | $ | 3,580 | $ | 2,930 | $ | 6,753 | $ | 5,735 | ||||||||
| GAAP General and administrative | $ | 18,314 | $ | 4,258 | $ | 22,914 | $ | 8,811 | ||||||||
| Less: Stock-based compensation | (11,745 | ) | — | (11,745 | ) | — | ||||||||||
| Less: Acquisition-related estimated litigation claim and legal costs | (2,021 | ) | (233 | ) | (2,615 | ) | (469 | ) | ||||||||
| Less: Amortization of acquired intangible assets | (568 | ) | (711 | ) | (695 | ) | (979 | ) | ||||||||
| Non-GAAP General and administrative | $ | 3,980 | $ | 3,314 | $ | 7,859 | $ | 7,363 | ||||||||
| GAAP Estimated litigation claim | $ | 14,696 | $ | — | $ | 14,696 | $ | — | ||||||||
| Less: Acquisition-related estimated litigation claim and legal costs | (14,696 | ) | — | (14,696 | ) | — | ||||||||||
| Non-GAAP Estimated litigation claim | — | — | — | — | ||||||||||||
| GAAP Operating expenses | $ | 47,888 | $ | 10,357 | $ | 59,416 | $ | 21,090 | ||||||||
| Less: Stock-based compensation | (19,362 | ) | — | (19,362 | ) | — | ||||||||||
| Less: Acquisition related estimated litigation claim and legal costs | (16,717 | ) | (233 | ) | (17,311 | ) | (469 | ) | ||||||||
| Less: IPO preparation costs | (607 | ) | (711 | ) | (873 | ) | (979 | ) | ||||||||
| Less: Amortization of acquired intangible assets | (47 | ) | (74 | ) | (117 | ) | (175 | ) | ||||||||
| Non-GAAP Operating expenses | $ | 11,155 | $ | 9,339 | $ | 21,753 | $ | 19,467 | ||||||||
| GAAP Income (loss) from operations | $ | (37,789 | ) | $ | (205 | ) | $ | (35,401 | ) | $ | 1,328 | |||||
| Add: Stock-based compensation | 21,829 | — | 21,829 | — | ||||||||||||
| Add: Acquisition related estimated litigation claim and legal costs | 16,717 | 233 | 17,311 | 469 | ||||||||||||
| Add: IPO preparation costs | 607 | 711 | 873 | 979 | ||||||||||||
| Add: Amortization of acquired intangible assets | 296 | 74 | 366 | 175 | ||||||||||||
| Non-GAAP Income (loss) from operations | $ | 1,660 | $ | 813 | $ | 4,978 | $ | 2,951 | ||||||||
| GAAP Net income (loss) | $ | (38,388 | ) | $ | (331 | ) | $ | (37,010 | ) | $ | 483 | |||||
| Add: Stock-based compensation | 21,829 | — | 21,829 | — | ||||||||||||
| Add: Acquisition related estimated litigation claim and legal costs | 16,717 | 233 | 17,311 | 469 | ||||||||||||
| Add: IPO preparation costs | 607 | 711 | 873 | 979 | ||||||||||||
| Add: Amortization of acquired intangible assets | 296 | 74 | 366 | 175 | ||||||||||||
| Add: Loss on debt extinguishment | 718 | — | 718 | — | ||||||||||||
| Add: Change in fair value of contingent consideration | (10 | ) | 65 | (18 | ) | 341 | ||||||||||
| Add: Foreign exchange loss | 114 | 168 | 244 | 415 | ||||||||||||
| Add: Income tax effect of non-GAAP adjustments | (43 | ) | (81 | ) | (76 | ) | (104 | ) | ||||||||
| Non-GAAP Net income (loss) | $ | 1,840 | $ | 839 | $ | 4,237 | $ | 2,758 | ||||||||
| GAAP Net income (loss) per share: | ||||||||||||||||
| Basic and diluted: | $ | (1.55 | ) | $ | (0.02 | ) | $ | (1.65 | ) | $ | 0.02 | |||||
| Non-GAAP Net income (loss) per share: | ||||||||||||||||
| Basic: | $ | 0.07 | $ | 0.04 | $ | 0.19 | $ | 0.14 | ||||||||
| Diluted: | $ | 0.07 | $ | 0.04 | $ | 0.18 | $ | 0.14 | ||||||||
| Weighted average shares used in GAAP and non-GAAP net income (loss) per share: | ||||||||||||||||
| Basic: | 24,811,112 | 20,000,000 | 22,405,557 | 20,000,000 | ||||||||||||
| Diluted: | 25,408,465 | 20,000,000 | 23,052,554 | 20,000,000 | ||||||||||||
