Santa Clara, CA, November 7, 2024, – PDF Solutions, Inc. (Nasdaq: PDFS), a leading provider of comprehensive data solutions for the semiconductor and electronics ecosystem, today announced financial results for its third quarter ended September 30, 2024.
Financial Highlights of Third Quarter 2024
- Record analytics revenues of $44.8 million, up 13% over last year’s comparable quarter
- Record quarterly revenues of $46.4 million, up 10% over last year’s comparable quarter
- GAAP gross margin of 73% and Non-GAAP gross margin of 77%
- GAAP diluted earnings per share (EPS) of $0.06 and non-GAAP diluted EPS of $0.25
- Backlog of $239.2 million as of September 30, 2024
Total revenues for the third quarter of 2024 were $46.4 million, compared to $41.7 million for the second quarter of 2024 and $42.4 million for the third quarter of 2023. Analytics revenue for the third quarter of 2024 was $44.8 million, compared to $38.1 million for the second quarter of 2024 and $39.5 million for the third quarter of 2023. Integrated Yield Ramp revenue for the third quarter of 2024 was $1.7 million, compared to $3.5 million for the second quarter of 2024 and $2.9 million for the third quarter of 2023.
GAAP gross margin for the third quarter of 2024 was 73%, compared to 71% for the second quarter of 2024 and 66% for the third quarter of 2023.
Non-GAAP gross margin for the third quarter of 2024 was 77%, compared to 75% for the second quarter of 2024 and 70% for the third quarter of 2023.
On a GAAP basis, net income for the third quarter of 2024 was $2.2 million, or $0.06 per diluted share, compared to a net income of $1.7 million, or $0.04 per diluted share, for the second quarter of 2024, and a net loss of $5.0 million, or ($0.13) per diluted share, for the third quarter of 2023.
Non-GAAP net income for the third quarter of 2024 was $9.9 million, or $0.25 per diluted share, compared to a non-GAAP net income of $7.1 million, or $0.18 per diluted share, for the second quarter of 2024, and non-GAAP net income of $8.0 million, or $0.20 per diluted share, for the third quarter of 2023.
Cash, cash equivalents and short-term investments as of September 30, 2024, were $120.2 million.
재무 전망
“Our bookings for the first 9 months of 2024 have now exceeded our bookings for the full year of 2023, and we are pleased with our results for the third quarter. We now expect fourth quarter revenue to grow on a year-over-year basis in line with our long-term revenue growth target of 20%,” said John Kibarian, CEO and President.
전화 회의
As previously announced, PDF Solutions will discuss these results on a live conference call beginning at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time today. To participate on the live call, analysts and investors should pre-register at: https://register.vevent.com/register/BI1b05df01d9534a648d4fd2cd753be31c. Registrants will receive dial-in information and a unique passcode to access the call. We encourage participants to dial into the call ten minutes ahead of the scheduled time. The teleconference will also be webcast simultaneously on the Company’s website at https://ir.pdf.com/webcasts. A replay of the conference call webcast will be available after the call on the Company’s investor relations website. A copy of this press release, including the disclosure and reconciliation of certain non-GAAP financial measures to the comparable GAAP measures, which non-GAAP measures may be used periodically by PDF Solutions’ management when discussing financial results with investors and analysts, will also be available on PDF Solutions’ website at http://www.pdf.com/press-releases following the date of this release.
Third Quarter 2024 Financial Commentary Available Online
A Management Report reviewing the Company’s third quarter 2024 financial results will be furnished to the Securities and Exchange Commission on Form 8-K and published on the Company’s website at http://ir.pdf.com/financial-reports. Analysts and investors are encouraged to review this commentary prior to participating in the conference call.
비일반회계기준 재무 척도 사용에 관한 정보
In addition to providing results that are determined in accordance with Accounting Principles Generally Accepted in the United States of America (“GAAP”), PDF Solutions also provides certain non-GAAP financial measures. Non-GAAP gross profit and margin exclude stock-based compensation expense and amortization of acquired technology under costs of revenues. Non-GAAP net income excludes stock-based compensation expense, amortization of acquired technology under costs of revenues, amortization of other acquired intangible assets, and the effects of certain non-recurring items, such as expenses related to an arbitration proceeding for a disputed contract with a customer, acquisition-related costs, proceeds from the sale of previously written-off property and equipment, and their related income tax effects, as applicable, as well as adjustments for the valuation allowance for deferred tax assets and reconciling items. These non-GAAP financial measures are used by management internally to measure the Company’s profitability and performance. PDF Solutions’ management believes that these non-GAAP measures provide useful supplemental information to investors regarding the Company’s ongoing operations in light of the fact that none of these categories of expense and income has a current effect on the future uses of cash (with the exception of expenses related to an arbitration proceeding for a disputed contract with a customer) nor do they impact the generation of current or future revenues. These non-GAAP results should not be considered an alternative to, or a substitute for, GAAP financial information, and may differ from similarly titled non-GAAP measures used by other companies. In particular, these non-GAAP financial measures are not a substitute for GAAP measures of income or loss as a measure of performance, or to cash flows from operating, investing and financing activities as a measure of liquidity. Since management uses these non-GAAP financial measures internally to measure profitability and performance, PDF Solutions has included these non-GAAP measures to give investors an opportunity to see the Company’s financial results as viewed by management. A reconciliation of the comparable GAAP financial measures to the non-GAAP financial measures is provided at the end of the Company’s condensed consolidated financial statements presented below.
미래예측 진술
The press release and the planned conference call include forward-looking statements regarding the Company’s future expected business performance and financial results, including expectations about total revenue growth for the fourth quarter of 2024, that are subject to future events and circumstances. Actual results could differ materially from those expressed in these forward-looking statements. Risks and uncertainties that could cause results to differ materially include, but are not limited to, risks associated with: expectations about the effectiveness of our business and technology strategies; expectations regarding global economic trends; expectations regarding recent and future acquisitions; current semiconductor industry trends; expectations of continued adoption of the Company’s solutions by new and existing customers; project milestones or delays and performance criteria achieved; cost and schedule of new product development; the provision of technology and services prior to the execution of a final contract; the impact of global inflation and changing interest rates; the continuing impact of macroeconomic conditions and other trends on the semiconductor industry, our customers, our operations, and supply and demand for our products; supply chain disruptions; the success of the Company’s strategic growth opportunities and partnerships; the Company’s ability to successfully integrate acquired businesses and technologies; whether the Company can successfully convert backlog into revenue; customers’ production volumes under contracts that provide Gainshare; possible impacts from the evolving trade regulatory environment and geopolitical tensions; our assessment of the sufficiency of our cash resources and anticipated funds from operations; our ability to obtain additional financing if needed; our ability to use support and updates for certain open-source software, and other risks set forth in PDF Solutions’ periodic public filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K and amendments to such reports. The forward-looking statements made in the conference call are made as of the date hereof, and PDF Solutions does not assume any obligation to update such statements nor the reasons why actual results could differ materially from those projected in such statements. We have not filed our Form 10-Q for the quarter ended September 30, 2024. As a result, all financial results described in this earnings release should be considered preliminary, and are subject to change to reflect any necessary adjustments or changes in accounting estimates, that are identified prior to the time we file our Form 10-Q.
PDF 솔루션 정보
PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystem to improve the yield and quality of their products and operational efficiency for increased profitability. The Company’s products and services are used by Fortune 500 companies across the semiconductor and electronics ecosystem to achieve smart manufacturing goals by connecting and controlling equipment, collecting data generated during manufacturing and test operations, and performing advanced analytics and machine learning to enable profitable, high-volume manufacturing.
1991년에 설립된 PDF Solutions는 캘리포니아주 산타클라라에 본사를 두고 있으며 북미, 유럽 및 아시아 전역에서 사업을 운영하고 있습니다. 회사는 (직접 또는 하나 이상의 자회사를 통해) SEMI, INEMI, TPCA, IPC, OPC 재단 및 DMDII의 정회원입니다. PDF 솔루션에 대한 최신 뉴스와 정보를 확인하거나 사무실 위치를 찾으려면 https://www.pdf.com 을 방문하십시오.
PDF 솔루션 및 PDF 솔루션 로고는 PDF Solutions, Inc. 또는 그 자회사의 상표 또는 등록 상표입니다.
회사 연락처:
아드난 라자
최고 재무 책임자
(408) 516-0237
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소니아 세고비아
투자자 관계
(408) 938-6491
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