PDF Solutions Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>PDF Solutions Inc. filed its Q1 2024 10-Q, detailing financial positions and stock repurchase activities.</b>

AI Summary

PDF SOLUTIONS INC (PDFS) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. PDF Solutions Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes financial data for the first quarter of 2024. Key financial statement items such as Retained Earnings, Additional Paid-In Capital, and Accumulated Other Comprehensive Income are detailed for various periods. Information regarding stock repurchase programs initiated in 2024 and 2022 is present. The company's business address is 2858 De La Cruz Boulevard, Santa Clara, CA.

Why It Matters

For investors and stakeholders tracking PDF SOLUTIONS INC, this filing contains several important signals. This 10-Q provides an update on PDF Solutions' financial health and operational activities for the first quarter of 2024, crucial for investors assessing performance and future outlook. The inclusion of stock repurchase program details indicates management's strategy regarding capital allocation and shareholder returns.

Risk Assessment

Risk Level: low — PDF SOLUTIONS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating a routine disclosure of financial information.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand the company's performance drivers and any shifts in financial position.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-05-09 — Filing Date (Filed as of Date)
• 2024-04-15 — Stock Repurchase Program 2024 Date (Subsequent Event)
• 2022-04-11 — Stock Repurchase Program 2022 Date (Initiation Date)

Key Players & Entities

• PDF SOLUTIONS INC (company) — Filer
• 2858 DE LA CRUZ BOULEVARD (address) — Business Address
• SANTA CLARA (location) — Business Address City
• CA (location) — Business Address State
• 95050 (postal_code) — Business Address Zip
• 4082807900 (phone_number) — Business Phone
• Advantest America Inc (company) — Mentioned in relation to a software license agreement

FAQ

Industry Context

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

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosures from public companies.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity compared to prior periods.
2. Review any disclosures related to stock repurchase programs for insights into capital management.
3. Examine the footnotes for details on accounting policies, commitments, and contingencies.

Key Dates

• 2024-03-31: Quarterly Period End — Financial data presented is as of this date.
• 2024-05-09: Filing Date — Official submission date of the 10-Q report.
• 2024-04-15: Stock Repurchase Program 2024 — Date related to a subsequent stock repurchase program.

Year-Over-Year Comparison

This filing represents the first quarterly report for fiscal year 2024, providing an update from the previous year-end filings.

Key Financial Figures

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

Filing Documents

• pdfs-20240331x10q.htm (10-Q) — 1689KB
• pdfs-20240331xex31d01.htm (EX-31.01) — 14KB
• pdfs-20240331xex31d02.htm (EX-31.02) — 15KB
• pdfs-20240331xex32d01.htm (EX-32.01) — 10KB
• pdfs-20240331xex32d02.htm (EX-32.02) — 11KB
• 0001558370-24-007616.txt (&nbsp;) — 8113KB
• pdfs-20240331.xsd (EX-101.SCH) — 46KB
• pdfs-20240331_cal.xml (EX-101.CAL) — 68KB
• pdfs-20240331_def.xml (EX-101.DEF) — 197KB
• pdfs-20240331_lab.xml (EX-101.LAB) — 482KB
• pdfs-20240331_pre.xml (EX-101.PRE) — 356KB
• pdfs-20240331x10q_htm.xml (XML) — 1645KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Comprehensive Income (Loss ) 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 8

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 42

OTHER INFORMATION

PART II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 42

Risk Factors

Item 1A. Risk Factors 42

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 43

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 43

Other Information

Item 5. Other Information 43

Exhibits

Item 6. Exhibits 44 INDEX TO EXHIBITS 44

SIGNATURES

SIGNATURES 45 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements PDF SOLUTIONS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except par value) March 31, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 85,256 $ 98,978 Short-term investments 37,628 36,544 Accounts receivable, net of allowance for credit losses of $ 890 as of March 31 , 2024 and December 31, 2023 47,267 44,904 Prepaid expenses and other current assets 17,165 17,422 Total current assets 187,316 197,848 Property and equipment, net 36,088 37,338 Operating lease right-of-use assets, net 4,742 4,926 Goodwill 15,003 15,029 Intangible assets, net 14,747 15,620 Deferred tax assets, net 145 157 Other non-current assets 28,782 19,218 Total assets $ 286,823 $ 290,136 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 5,729 $ 2,561 Accrued compensation and related benefits 9,491 14,800 Accrued and other current liabilities 4,963 4,633 Operating lease liabilities – current portion 1,625 1,529 Deferred revenues – current portion 27,643 25,750 Billings in excess of recognized revenues 2,345 1,570 Total current liabilities 51,796 50,843 Long-term income taxes 2,980 2,972 Non-current portion of operating lease liabilities 4,363 4,657 Other non-current liabilities 2,271 2,718 Total liabilities 61,410 61,190 Commitments and contingencies (Note 11) Stockholders' equity: Preferred stock, $ 0.00015 par value, 5,000 shares authorized, no shares issued and outstanding — — Common stock, $ 0.00015 par value, 70,000 shares authorized; shares issued 50,173 and 49,749 , respectively; shares outstanding 38,393 and 38,289 , respectively 6 6 Additional paid-in capital 481,390 473,295 Treasury stock at cost, 11,780 and 11,460 shares, respectively ( 154,616 ) ( 143,923 ) Accumulated deficit ( 9

View Full Filing

View this 10-Q filing on SEC EDGAR