PDF Solutions Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>PDF Solutions Inc. has filed its 2023 10-K report, detailing financial positions and equity components as of year-end.</b>

AI Summary

PDF SOLUTIONS INC (PDFS) filed a Annual Report (10-K) with the SEC on February 27, 2024. The company filed its 10-K report for the fiscal year ending December 31, 2023. The filing includes data related to common stock, retained earnings, and additional paid-in capital as of December 31, 2023. Information on stock repurchase programs initiated in 2022 and 2020 is referenced. Details regarding the valuation allowance of deferred tax assets and allowance for credit loss are provided for fiscal years 2020-2023. The report references employee stock option plans and purchase plans.

Why It Matters

For investors and stakeholders tracking PDF SOLUTIONS INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of PDF Solutions Inc.'s financial health and equity structure for the fiscal year 2023, crucial for investors assessing performance and stability. The inclusion of data on stock repurchase programs, deferred tax assets, and credit loss allowances offers insights into the company's capital management strategies and risk mitigation efforts.

Risk Assessment

Risk Level: low — PDF SOLUTIONS INC shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant new financial information or strategic shifts that would indicate high risk.

Analyst Insight

Review the detailed financial statements and disclosures within the 10-K to understand PDF Solutions Inc.'s performance and financial position for fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting Period)
• 2024-02-27 — Filing Date (Date of Report)
• 100 — Public Document Count (Associated Documents)
• 000-31311 — SEC File Number (Company's SEC Filing Number)

Key Players & Entities

• PDF SOLUTIONS INC (company) — Filer
• 2023-12-31 (date) — Fiscal Year End
• 2024-02-27 (date) — Filing Date
• DE (jurisdiction) — State of Incorporation
• CA (jurisdiction) — Business Address State
• 95050 (postal_code) — Business Address Zip
• 4082807900 (phone_number) — Business Phone

FAQ

Industry Context

PDF Solutions Inc. operates in the software services industry, specifically focusing on prepackaged software solutions.

Regulatory Implications

The filing is a standard Form 10-K, adhering to the regulations set forth by the Securities and Exchange Commission (SEC) for public companies.

What Investors Should Do

1. Analyze the balance sheet for detailed figures on assets, liabilities, and equity as of December 31, 2023.
2. Examine disclosures related to stock repurchase programs and their impact on outstanding shares.
3. Review the notes to the financial statements for information on deferred tax assets and credit loss allowances.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-27: Filing Date — Date the 10-K report was officially submitted to the SEC.
• 2022-04-11: Stock Repurchase Program 2022 — Initiation date of a stock repurchase program.
• 2020-06-04: The 2020 Stock Repurchase Program — Initiation date of another stock repurchase program.

Year-Over-Year Comparison

This filing represents the annual 10-K for fiscal year 2023, providing a year-end summary compared to previous periods.

Key Financial Figures

• $0.00015 — ange on which registered Common Stock, $0.00015 par value PDFS The Nasdaq Stock Mar

Filing Documents

• pdfs-20231231x10k.htm (10-K) — 2678KB
• pdfs-20231231xex10d06.htm (EX-10.06) — 33KB
• pdfs-20231231xex21d01.htm (EX-21.01) — 13KB
• pdfs-20231231xex23d01.htm (EX-23.01) — 3KB
• pdfs-20231231xex31d01.htm (EX-31.01) — 14KB
• pdfs-20231231xex31d02.htm (EX-31.02) — 14KB
• pdfs-20231231xex32d01.htm (EX-32.01) — 10KB
• pdfs-20231231xex32d02.htm (EX-32.02) — 9KB
• pdfs-20231231xex97d01.htm (EX-97.01) — 43KB
• pdfs-20231231x10k003.jpg (GRAPHIC) — 63KB
• pdfs-20231231xex10d06001.jpg (GRAPHIC) — 9KB
• 0001558370-24-001843.txt (&nbsp;) — 11428KB
• pdfs-20231231.xsd (EX-101.SCH) — 56KB
• pdfs-20231231_cal.xml (EX-101.CAL) — 81KB
• pdfs-20231231_def.xml (EX-101.DEF) — 256KB
• pdfs-20231231_lab.xml (EX-101.LAB) — 597KB
• pdfs-20231231_pre.xml (EX-101.PRE) — 468KB
• pdfs-20231231x10k_htm.xml (XML) — 2272KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 16 Item 1B. Unresolved Staff Comments 34 Item 1C. Cybersecurity 34 Item 2.

Properties

Properties 37 Item 3.

Legal Proceedings

Legal Proceedings 37 Item 4. Mine Safety Disclosures 37 PART II Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 38 Item 6. Reserved 39 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 53 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 88 Item 9A.

Controls and Procedures

Controls and Procedures 88 Item 9B. Other Information 89 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 89 PART III Item 10. Directors, Executive Officers and Corporate Governance 90 Item 11.

Executive Compensation

Executive Compensation 90 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 90 Item 13. Certain Relationships and Related Transactions, and Director Independence 90 Item 14. Principal Accountant Fees and Services 90 PART IV Item 15. Exhibits and Financial Statement Schedules 91 Item 16. Form 10-K Summary 95

Signatures

Signatures 96 2 Table of Contents SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K, particularly in Item 1 "Business" and Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations," includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements include, but are not limited to, statements concerning: expectations about the effectiveness of our business and technology strategies; expectations regarding global economic trends; the impact of rising global inflation and increased interest rates; expectations regarding recent and future acquisitions; current semiconductor industry trends; expectations of the success and market acceptance of our intellectual property and our solutions; the continuing impact of macroeconomic conditions on the semiconductor industry and our business; supply chain disruptions; possible impacts from the evolving trade regulatory environment and geopolitical tensions; and our ability to obtain additional financing if needed. Our actual results could differ materially from those projected in the forward-looking statements as a result of a number of factors, risks and uncertainties discussed in this Form 10-K, especially those contained in Item 1A of this Form 10-K. The words "may," "anticipate," "plan," "continue," "could," "projected," "expect," "believe," "intend," and "assume," the negative of these terms and similar expressions are used to identify forward-looking statements. All forward-looking statements and information included herein is given as of the filing date of this Form 10-K with the Securities and Exchange Commission ("SEC") and based on information available to us at the time of this report and future events or circumstances could differ significantly from these forward-looking s

Business

Item 1. Business We provide comprehensive data solutions designed to empower organizations across the semiconductor and electronics ecosystems to improve the yield and quality of their products and operational efficiency for increased profitability. We derive revenues from two sources, Analytics and Integrated Yield Ramp. Our offerings contribute to Analytics revenue through contract fees for on-premise software and hardware system licenses, software-as-a-service ("SaaS"), and other professional services. Certain of our Characterization services engagements contribute to Integrated Yield Ramp revenue through contract fees and a value-based, variable fee or royalty, which we call Gainshare. We are headquartered in Santa Clara, California and also operate worldwide with offices in Canada, China, France, Germany, Italy, Japan, South Korea, and Taiwan. Business Overview Our customers include Fortune 500 companies across the semiconductor and electronics ecosystem. These companies use our products and services to achieve various goals depending on whether they are integrated device manufacturers ("IDMs"), fabless semiconductor companies, foundries, equipment manufacturers, electronics manufacturing suppliers ("EMS"), original device manufacturers ("ODMs"), outsourced semiconductor assembly and test ("OSATs"), or system houses. For example, our foundry customers generate and analyze key manufacturing data using our solutions to shorten the time necessary for technology development and to provide their fabless customers with a higher yielding process with improved electrical performance, which are both critical metrics for market success. Higher yields in less time can also mean less total raw materials and process runs, which help lower customers' total cost and minimize environmental impact. Also, equipment manufacturers and factories use our connectivity products to implement evolving industry standards for their equipment or operations, respectively, with required

View Full Filing

View this 10-K filing on SEC EDGAR