PDF Solutions Files 10-Q, Details Financials

TL;DR

PDF Solutions 10-Q filed. Financials and stock buybacks detailed.

AI Summary

PDF Solutions Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates. Key financial data and stock repurchase program information are included, reflecting the company's ongoing financial activities and capital management strategies.

Why It Matters

This filing provides investors with a quarterly update on PDF Solutions' financial health and strategic initiatives, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 890000 — Accounts Receivable (As of June 30, 2024, Accounts Receivable was $890,000.)

Key Players & Entities

• PDF SOLUTIONS INC (company) — Filer
• 20240630 (date) — Period of Report
• 20240808 (date) — Filing Date
• 0001120914 (company) — Central Index Key
• 7372 (industry_code) — Standard Industrial Classification
• 251701361 (tax_id) — IRS Number
• DE (state) — State of Incorporation
• 1231 (date) — Fiscal Year End
• 2858 DE LA CRUZ BOULEVARD (address) — Business Address
• SANTA CLARA (city) — Business Address City

FAQ

Key Financial Figures

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

Filing Documents

• pdfs-20240630x10q.htm (10-Q) — 2169KB
• pdfs-20240630xex3d1.htm (EX-3.1) — 61KB
• pdfs-20240630xex31d01.htm (EX-31.01) — 14KB
• pdfs-20240630xex31d02.htm (EX-31.02) — 15KB
• pdfs-20240630xex32d01.htm (EX-32.01) — 10KB
• pdfs-20240630xex32d02.htm (EX-32.02) — 11KB
• 0001558370-24-011600.txt ( ) — 9834KB
• pdfs-20240630.xsd (EX-101.SCH) — 50KB
• pdfs-20240630_cal.xml (EX-101.CAL) — 74KB
• pdfs-20240630_def.xml (EX-101.DEF) — 198KB
• pdfs-20240630_lab.xml (EX-101.LAB) — 496KB
• pdfs-20240630_pre.xml (EX-101.PRE) — 364KB
• pdfs-20240630x10q_htm.xml (XML) — 2200KB

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 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 9

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 29

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 44

Controls and Procedures

Item 4. Controls and Procedures 45

OTHER INFORMATION

PART II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 46

Risk Factors

Item 1A. Risk Factors 46

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 46

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 46

Other Information

Item 5. Other Information 46

Exhibits

Item 6. Exhibits 47 INDEX TO EXHIBITS 47

SIGNATURES

SIGNATURES 48 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) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 91,987 $ 98,978 Short-term investments 25,888 36,544 Accounts receivable, net of allowance for credit losses of $ 890 as of June 30, 2024 and December 31, 2023 56,410 44,904 Prepaid expenses and other current assets 19,007 17,422 Total current assets 193,292 197,848 Property and equipment, net 40,707 37,338 Operating lease right-of-use assets, net 4,424 4,926 Goodwill 14,996 15,029 Intangible assets, net 13,897 15,620 Deferred tax assets, net 145 157 Other non-current assets 30,538 19,218 Total assets $ 297,999 $ 290,136 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 4,219 $ 2,561 Accrued compensation and related benefits 11,468 14,800 Accrued and other current liabilities 5,994 4,633 Operating lease liabilities – current portion 1,609 1,529 Deferred revenues – current portion 31,662 25,750 Billings in excess of recognized revenues 512 1,570 Total current liabilities 55,464 50,843 Long-term income taxes 2,668 2,972 Non-current portion of operating lease liabilities 4,003 4,657 Other non-current liabilities 3,711 2,718 Total liabilities 65,846 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 50,224 and 49,749 , respectively; shares outstanding 38,431 and 38,289 , respectively 6 6 Additional paid-in capital 487,219 473,295 Treasury stock at cost, 11,793 and 11,460 shares, respectively ( 155,084 ) ( 143,923 ) Accumulated deficit ( 96,733 ) ( 98,045 ) Accumulated other comp

View Full Filing

View this 10-Q filing on SEC EDGAR