PDF Solutions® Reports Fourth Quarter and Full Year 2021 Results

About PDF Solutions

PDF Solutions (NASDAQ: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor 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 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.

Founded in 1991, PDF Solutions is headquartered in Santa Clara, California, with operations across Europe and Asia. The Company (directly or through one or more subsidiaries) is an active member of SEMI, INEMI, TPCA, IPC, the OPC Foundation, and DMDII. For the latest news and information about PDF Solutions or to find office locations, visit http://www.pdf.com/.

PDF Solutions and the PDF Solutions logo are trademarks or registered trademarks of PDF Solutions, Inc. or its subsidiaries.

PDF SOLUTIONS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In thousands)

       December 31, 
   2021   2020 
       
ASSETS      
Current assets:      
Cash and cash equivalents $27,684  $30,315 
Short-term investments  112,542   114,981 
Accounts receivable, net  40,087   34,140 
Prepaid expenses and other current assets  8,194   13,944 
Total current assets  188,507   193,380 
Property and equipment, net  35,295   39,242 
Operating lease right-of-use assets, net  5,408   6,672 
Goodwill  14,123   15,774 
Intangible assets, net     21,239       24,573  
Deferred tax assets, net     75       249  
Other non-current assets     9,121       7,690  
Total assets   $ 273,768     $ 287,580  
             
LIABILITIES AND STOCKHOLDERS’ EQUITY            
Current liabilities:            
Accounts payable   $ 5,554     $ 4,399  
Accrued compensation and related benefits     9,495       8,339  
Accrued and other current liabilities     3,328       6,309  
Operating lease liabilities ‒ current portion     1,758       1,926  
Deferred revenues ‒ current portion     23,691       19,895  
Billings in excess of recognized revenues           1,337  
Total current liabilities     43,826       42,205  
Long-term income taxes payable     2,656       2,956  
Non-current operating lease liabilities     5,258       6,516  
Other non-current liabilities     2,443       1,397  
Total liabilities     54,183       53,074  
             
Stockholders’ equity:            
Common stock and additional paid-in-capital     423,075       407,179  
Treasury stock at cost     (104,705 )     (96,215 )
Accumulated deficit     (97,721 )     (76,233 )
Accumulated other comprehensive loss     (1,064 )     (225 )
Total stockholders’ equity     219,585       234,506  
Total liabilities and stockholders’ equity   $ 273,768     $ 287,580  

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