PDF Solutions® Announces Record 2024 Fourth Quarter and Full Year Total Revenues
PDF Solutions (PDFS) reported record financial results for Q4 and full year 2024. Q4 total revenues reached $50.1 million, up 22% year-over-year, with analytics revenue of $47.9 million. Full-year 2024 revenues were $179.5 million, an 8% increase from 2023.
Q4 2024 showed GAAP gross margin of 68% and non-GAAP gross margin of 72%. GAAP diluted EPS was $0.01, while non-GAAP diluted EPS reached $0.25. For the full year 2024, GAAP diluted EPS was $0.10 and non-GAAP diluted EPS was $0.84.
The company ended 2024 with a strong backlog of $221.4 million and cash, cash equivalents, and short-term investments of $114.9 million. Management expects full-year 2025 revenue growth approaching 15% year-over-year.
PDF Solutions (PDFS) ha riportato risultati finanziari record per il quarto trimestre e l'intero anno 2024. I ricavi totali del quarto trimestre hanno raggiunto 50,1 milioni di dollari, con un aumento del 22% rispetto all'anno precedente, con ricavi da analisi pari a 47,9 milioni di dollari. I ricavi totali per l'intero anno 2024 sono stati 179,5 milioni di dollari, con un aumento dell'8% rispetto al 2023.
Nel quarto trimestre del 2024, il margine lordo GAAP era del 68% e il margine lordo non GAAP del 72%. L'EPS diluito GAAP era di 0,01 dollari, mentre l'EPS diluito non GAAP ha raggiunto 0,25 dollari. Per l'intero anno 2024, l'EPS diluito GAAP era di 0,10 dollari e l'EPS diluito non GAAP era di 0,84 dollari.
L'azienda ha concluso il 2024 con un forte portafoglio ordini di 221,4 milioni di dollari e disponibilità liquide, equivalenti e investimenti a breve termine per 114,9 milioni di dollari. La direzione prevede una crescita dei ricavi per l'intero anno 2025 vicina al 15% rispetto all'anno precedente.
PDF Solutions (PDFS) reportó resultados financieros récord para el cuarto trimestre y el año completo 2024. Los ingresos totales del cuarto trimestre alcanzaron 50.1 millones de dólares, un aumento del 22% interanual, con ingresos por análisis de 47.9 millones de dólares. Los ingresos totales para el año completo 2024 fueron 179.5 millones de dólares, un aumento del 8% respecto a 2023.
El cuarto trimestre de 2024 mostró un margen bruto GAAP del 68% y un margen bruto no GAAP del 72%. El EPS diluido GAAP fue de 0.01 dólares, mientras que el EPS diluido no GAAP alcanzó 0.25 dólares. Para el año completo 2024, el EPS diluido GAAP fue de 0.10 dólares y el EPS diluido no GAAP fue de 0.84 dólares.
La empresa terminó 2024 con una sólida cartera de pedidos de 221.4 millones de dólares y efectivo, equivalentes de efectivo e inversiones a corto plazo de 114.9 millones de dólares. La dirección espera un crecimiento de los ingresos para el año completo 2025 cercano al 15% interanual.
PDF Solutions (PDFS)는 2024년 4분기와 전체 연도에 대한 기록적인 재무 결과를 보고했습니다. 4분기 총 수익은 5,010만 달러에 달하며, 전년 대비 22% 증가했으며, 분석 수익은 4,790만 달러였습니다. 2024년 전체 수익은 1억 7,950만 달러로, 2023년 대비 8% 증가했습니다.
2024년 4분기의 GAAP 총 마진은 68%였고, 비 GAAP 총 마진은 72%였습니다. GAAP 희석 EPS는 0.01달러였으며, 비 GAAP 희석 EPS는 0.25달러에 도달했습니다. 2024년 전체에 대한 GAAP 희석 EPS는 0.10달러였고 비 GAAP 희석 EPS는 0.84달러였습니다.
회사는 2024년을 2억 2,140만 달러의 강력한 미수금과 1억 1,490만 달러의 현금, 현금성 자산 및 단기 투자로 마감했습니다. 경영진은 2025년 전체 수익이 전년 대비 15% 가량 증가할 것으로 예상하고 있습니다.
PDF Solutions (PDFS) a annoncé des résultats financiers record pour le quatrième trimestre et pour l'année entière 2024. Les revenus totaux du quatrième trimestre ont atteint 50,1 millions de dollars, en hausse de 22% par rapport à l'année précédente, avec des revenus analytiques de 47,9 millions de dollars. Les revenus totaux pour l'année 2024 étaient de 179,5 millions de dollars, soit une augmentation de 8% par rapport à 2023.
Le quatrième trimestre 2024 a montré une marge brute GAAP de 68% et une marge brute non GAAP de 72%. Le bénéfice par action dilué GAAP était de 0,01 dollar, tandis que le bénéfice par action dilué non GAAP a atteint 0,25 dollar. Pour l'année complète 2024, le bénéfice par action dilué GAAP était de 0,10 dollar et le bénéfice par action dilué non GAAP était de 0,84 dollar.
L'entreprise a terminé 2024 avec un solide carnet de commandes de 221,4 millions de dollars et des liquidités, équivalents de liquidités et investissements à court terme de 114,9 millions de dollars. La direction s'attend à une croissance des revenus pour l'année 2025 d'environ 15% par rapport à l'année précédente.
PDF Solutions (PDFS) hat für das vierte Quartal und das gesamte Jahr 2024 Rekordergebnisse erzielt. Die Gesamterlöse im vierten Quartal beliefen sich auf 50,1 Millionen Dollar, was einem Anstieg von 22% im Vergleich zum Vorjahr entspricht, mit Erlösen aus Analysen von 47,9 Millionen Dollar. Die Gesamterlöse für das Jahr 2024 betrugen 179,5 Millionen Dollar, ein Anstieg von 8% gegenüber 2023.
Im vierten Quartal 2024 betrug die GAAP-Bruttomarge 68% und die Non-GAAP-Bruttomarge 72%. Der verwässerte GAAP-EPS betrug 0,01 Dollar, während der verwässerte Non-GAAP-EPS 0,25 Dollar erreichte. Für das gesamte Jahr 2024 betrug der verwässerte GAAP-EPS 0,10 Dollar und der verwässerte Non-GAAP-EPS 0,84 Dollar.
Das Unternehmen schloss das Jahr 2024 mit einem starken Auftragsbestand von 221,4 Millionen Dollar und Barmitteln, Barmitteläquivalenten und kurzfristigen Investitionen von 114,9 Millionen Dollar ab. Das Management erwartet für das Jahr 2025 ein Umsatzwachstum von etwa 15% im Vergleich zum Vorjahr.
- Record Q4 revenues of $50.1M, up 22% YoY
- Record analytics revenue of $47.9M in Q4, up 22% YoY
- Full year 2024 revenues reached $179.5M, up 8% YoY
- Strong backlog of $221.4M as of December 31, 2024
- Projected 15% revenue growth for 2025
- Non-GAAP net income increased to $32.6M in 2024 from $28.5M in 2023
- Q4 GAAP net income declined to $0.5M from $2.2M in Q3 2024
- Q4 GAAP gross margin decreased to 68% from 73% in Q3 2024
- Q4 non-GAAP gross margin dropped to 72% from 77% in Q3 2024
Insights
PDF Solutions delivered impressive Q4 results that underscore its successful transformation into a data analytics powerhouse. The analytics segment, contributing
The robust backlog of
The early completion of an eProbe evaluation leading to a sale, coupled with multiple Exensio deals and growth in Cimetrix connectivity business, signals strong market positioning across the semiconductor ecosystem. With
SANTA CLARA, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) -- PDF Solutions, Inc. (Nasdaq: PDFS), a leading provider of comprehensive data solutions for the semiconductor and electronics ecosystem, today announced financial results for its fourth quarter and year ended December 31, 2024.
Financial Highlights of Fourth Quarter 2024
- Record quarterly total revenues of
$50.1 million , up22% over last year’s comparable quarter - Record quarterly analytics revenue of
$47.9 million , up22% over last year’s comparable quarter - GAAP gross margin of
68% and non-GAAP gross margin of72% - GAAP diluted earnings per share (EPS) of
$0.01 and non-GAAP diluted EPS of$0.25
Financial Highlights of Full Year 2024
- Record full year total revenues of
$179.5 million , up8% over last year - Record full year analytics revenue of
$169.3 million , up11% over last year - GAAP gross margin of
70% and non-GAAP gross margin of74% - GAAP diluted EPS of
$0.10 and non-GAAP diluted EPS of$0.84 - Backlog of
$221.4 million as of December 31, 2024
Total revenues for the fourth quarter of 2024 were
GAAP gross margin for the fourth quarter of 2024 was
Non-GAAP gross margin for the fourth quarter of 2024 was
On a GAAP basis, net income for the fourth quarter of 2024 was
Non-GAAP net income for the fourth quarter of 2024 was
Cash, cash equivalents and short-term investments as of December 31, 2024, were
Financial Outlook
“We are pleased with the progress we are making with our customers. During the fourth quarter of 2024, we completed an ongoing manufacturing evaluation of an eProbe machine earlier than the customer’s schedule, resulting in the sale to this new leading edge customer, booked multiple Exensio deals, and saw growth in our Cimetrix connectivity business from runtime licenses. In 2025, we expect our full year revenues to grow at a rate approaching
Conference Call
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.
Fourth Quarter and Full Year 2024 Financial Commentary Available Online
A Management Report reviewing the Company’s fourth quarter and full year 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.
Information Regarding Use of Non-GAAP Financial Measures
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 the 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 for certain legal proceedings, non-recurring legal, tax and accounting service-related costs, loss on damaged equipment in-transit, net of recovery from 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 certain legal proceedings and non-recurring legal, tax and accounting services) 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.
Forward-Looking Statements
This 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 2025 and other statements identified by words such as “could,” “expects,” “intends,” “may,” “plans,” “potential,” “should,” “will,” “would,” or similar expressions and the negatives of those terms, that are subject to future events and circumstances. Other than statements of historical fact, all statements contained in this press release and the planned conference call are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those expressed in these forward-looking statements. Risks and uncertainties that could cause results to differ materially include risks associated with: the effectiveness of the Company’s business and technology strategies; current semiconductor industry trends and competition; rates of 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 and investments in research and development; the continuing impact of macroeconomic conditions, including inflation, changing interest rates and tariffs, the evolving trade regulatory environment and geopolitical tensions, and other trends on the semiconductor industry, the Company’s customers, operations, and supply and demand for its products; supply chain disruptions; the success of the Company’s strategic growth opportunities and partnerships; recent and future acquisitions, strategic alliances and relationships and 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; the sufficiency of the Company’s cash resources and anticipated funds from operations; the Company’s ability to obtain additional financing if needed and its 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 this press release and 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. The Company has not filed its Annual Report on Form 10-K for the year ended December 31, 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 the Company files its Annual Report on Form 10-K.
About PDF Solutions
PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystem to improve manufacturing yield, product quality and operational efficiency leading to 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 manufacturing equipment, collecting data generated during manufacturing and test operations, and using advanced analytics and machine learning models to enable profitable, high-volume manufacturing.
Founded in 1991, PDF Solutions is headquartered in Santa Clara, California, with operations across North America, 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 https://www.pdf.com.
PDF Solutions and the PDF Solutions logo are trademarks or registered trademarks of PDF Solutions, Inc. or its subsidiaries.
| Company Contacts: | ||
| Adnan Raza | Sonia Segovia | |
| Chief Financial Officer | Investor Relations | |
| Tel: (408) 516-0237 | Tel: (408) 938-6491 | |
| Email: adnan.raza@pdf.com | Email: sonia.segovia@pdf.com | |
PDF SOLUTIONS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In thousands)
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 90,594 | $ | 98,978 | ||||
| Short-term investments | 24,291 | 36,544 | ||||||
| Accounts receivable, net | 73,649 | 44,904 | ||||||
| Prepaid expenses and other current assets | 17,445 | 17,422 | ||||||
| Total current assets | 205,979 | 197,848 | ||||||
| Property and equipment, net | 48,465 | 37,338 | ||||||
| Operating lease right-of-use assets, net | 4,029 | 4,926 | ||||||
| Goodwill | 14,953 | 15,029 | ||||||
| Intangible assets, net | 12,307 | 15,620 | ||||||
| Deferred tax assets, net | 43 | 157 | ||||||
| Other non-current assets | 29,513 | 19,218 | ||||||
| Total assets | $ | 315,289 | $ | 290,136 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 8,255 | $ | 2,561 | ||||
| Accrued compensation and related benefits | 16,855 | 14,800 | ||||||
| Accrued and other current liabilities | 8,752 | 4,633 | ||||||
| Operating lease liabilities ‒ current portion | 1,675 | 1,529 | ||||||
| Deferred revenues ‒ current portion | 24,930 | 25,750 | ||||||
| Billings in excess of recognized revenues | 75 | 1,570 | ||||||
| Total current liabilities | 60,542 | 50,843 | ||||||
| Long-term income taxes | 2,915 | 2,972 | ||||||
| Non-current operating lease liabilities | 3,504 | 4,657 | ||||||
| Other non-current liabilities | 2,291 | 2,718 | ||||||
| Total liabilities | 69,252 | 61,190 | ||||||
| Stockholders’ equity: | ||||||||
| Common stock and additional paid-in capital | 502,908 | 473,301 | ||||||
| Treasury stock, at cost | (159,352 | ) | (143,923 | ) | ||||
| Accumulated deficit | (93,988 | ) | (98,045 | ) | ||||
| Accumulated other comprehensive loss | (3,531 | ) | (2,387 | ) | ||||
| Total stockholders’ equity | 246,037 | 228,946 | ||||||
| Total liabilities and stockholders’ equity | $ | 315,289 | $ | 290,136 | ||||
PDF SOLUTIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except per share amounts)
| Three months ended | Year ended | |||||||||||||||||||
| December 31, | September 30, | December 31, | December 31, | December 31, | ||||||||||||||||
| 2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||||
| Revenues: | ||||||||||||||||||||
| Analytics | $ | 47,926 | $ | 44,750 | $ | 39,128 | $ | 169,253 | $ | 152,085 | ||||||||||
| Integrated yield ramp | 2,159 | 1,659 | 1,997 | 10,212 | 13,750 | |||||||||||||||
| Total revenues | 50,085 | 46,409 | 41,125 | 179,465 | 165,835 | |||||||||||||||
| Costs and Expenses: | ||||||||||||||||||||
| Costs of revenues | 15,901 | 12,484 | 13,194 | 54,144 | 51,749 | |||||||||||||||
| Research and development | 14,417 | 13,516 | 12,308 | 53,566 | 50,736 | |||||||||||||||
| Selling, general, and administrative | 19,073 | 18,094 | 16,194 | 69,924 | 62,216 | |||||||||||||||
| Amortization of acquired intangible assets | 182 | 196 | 306 | 896 | 1,285 | |||||||||||||||
| Interest and other expense (income), net | (962 | ) | (1,511 | ) | (1,020 | ) | (5,644 | ) | (5,020 | ) | ||||||||||
| Income before income tax benefit (expense) | 1,474 | 3,630 | 143 | 6,579 | 4,869 | |||||||||||||||
| Income tax benefit (expense) | (935 | ) | (1,424 | ) | 744 | (2,522 | ) | (1,764 | ) | |||||||||||
| Net income | $ | 539 | $ | 2,206 | $ | 887 | $ | 4,057 | $ | 3,105 | ||||||||||
| Net income per share: | ||||||||||||||||||||
| Basic | $ | 0.01 | $ | 0.06 | $ | 0.02 | $ | 0.11 | $ | 0.08 | ||||||||||
| Diluted | $ | 0.01 | $ | 0.06 | $ | 0.02 | $ | 0.10 | $ | 0.08 | ||||||||||
| Weighted average common shares used to calculate net income per share: | ||||||||||||||||||||
| Basic | 38,783 | 38,710 | 38,269 | 38,602 | 38,015 | |||||||||||||||
| Diluted | 39,104 | 39,105 | 38,814 | 39,047 | 38,937 | |||||||||||||||
PDF SOLUTIONS, INC.
RECONCILIATION OF GAAP GROSS MARGIN TO NON-GAAP GROSS MARGIN (UNAUDITED)
(In thousands)
| Three months ended | Year ended | |||||||||||||||||||
| December 31, | September 30, | December 31, | December 31, | December 31, | ||||||||||||||||
| 2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||||
| GAAP | ||||||||||||||||||||
| Total revenues | $ | 50,085 | $ | 46,409 | $ | 41,125 | $ | 179,465 | $ | 165,835 | ||||||||||
| Costs of revenues | 15,901 | 12,484 | 13,194 | 54,144 | 51,749 | |||||||||||||||
| GAAP gross profit | $ | 34,184 | $ | 33,925 | $ | 27,931 | $ | 125,321 | $ | 114,086 | ||||||||||
| GAAP gross margin | 68 | % | 73 | % | 68 | % | 70 | % | 69 | % | ||||||||||
| Non-GAAP | ||||||||||||||||||||
| GAAP gross profit | $ | 34,184 | $ | 33,925 | $ | 27,931 | $ | 125,321 | $ | 114,086 | ||||||||||
| Adjustments to reconcile GAAP to non-GAAP gross margin: | ||||||||||||||||||||
| Stock-based compensation expense | 1,336 | 1,366 | 1,147 | 5,087 | 4,169 | |||||||||||||||
| Amortization of acquired technology | 583 | 584 | 586 | 2,335 | 2,266 | |||||||||||||||
| Non-GAAP gross profit | $ | 36,103 | $ | 35,875 | $ | 29,664 | $ | 132,743 | $ | 120,521 | ||||||||||
| Non-GAAP gross margin | 72 | % | 77 | % | 72 | % | 74 | % | 73 | % | ||||||||||
PDF SOLUTIONS, INC.
RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME (UNAUDITED)
(In thousands, except per share amounts)
| Three months ended | Year ended | |||||||||||||||||||
| December 31, | September 30, | December 31, | December 31, | December 31, | ||||||||||||||||
| 2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||||
| GAAP net income | $ | 539 | $ | 2,206 | $ | 887 | $ | 4,057 | $ | 3,105 | ||||||||||
| Adjustments to reconcile GAAP net income to non-GAAP net income: | ||||||||||||||||||||
| Stock-based compensation expense | 6,507 | 6,730 | 5,923 | 25,047 | 21,484 | |||||||||||||||
| Amortization of acquired technology under costs of revenues | 583 | 584 | 586 | 2,335 | 2,266 | |||||||||||||||
| Amortization of other acquired intangible assets | 182 | 196 | 306 | 896 | 1,285 | |||||||||||||||
| Expenses for certain legal proceedings (1) | 69 | — | 75 | 69 | 2,600 | |||||||||||||||
| Non-recurring legal, tax and accounting service-related costs | 940 | — | — | 940 | 209 | |||||||||||||||
| Loss on damaged equipment in-transit, net of (recovery) from previously written-off property and equipment | 663 | (55 | ) | — | 608 | (105 | ) | |||||||||||||
| Tax impact of valuation allowance for deferred tax assets and reconciling items (2) | 375 | 262 | (2,060 | ) | (1,335 | ) | (2,374 | ) | ||||||||||||
| Non-GAAP net income | $ | 9,858 | $ | 9,923 | $ | 5,717 | $ | 32,617 | $ | 28,470 | ||||||||||
| GAAP net income per diluted share | $ | 0.01 | $ | 0.06 | $ | 0.02 | $ | 0.10 | $ | 0.08 | ||||||||||
| Non-GAAP net income per diluted share | $ | 0.25 | $ | 0.25 | $ | 0.15 | $ | 0.84 | $ | 0.73 | ||||||||||
| Weighted average common shares used in GAAP net income per diluted share calculation | 39,104 | 39,105 | 38,814 | 39,047 | 38,937 | |||||||||||||||
| Weighted average common shares used in non-GAAP net income per diluted share calculation | 39,104 | 39,105 | 38,814 | 39,047 | 38,937 | |||||||||||||||
(1) Represents legal costs and expenses related to certain litigation and an arbitration proceeding which are expected to continue until these matters are resolved.
(2) The difference between the GAAP and non-GAAP income tax provisions is primarily due to the valuation allowance on a GAAP basis and non-GAAP adjustments. For example, on a GAAP basis, the Company does not receive a deferred tax benefit for foreign tax credits or research and development credits after the valuation allowance. The Company’s non-GAAP tax rate and resulting non-GAAP tax expense is not calculated with a full U.S. federal or state valuation allowance due to the Company’s cumulative non-GAAP income and management’s conclusion that it is more likely than not to utilize its net deferred tax assets (DTAs). Each reporting period, management evaluates the need for a valuation allowance and may place a valuation allowance against its U.S. net DTAs on a non-GAAP basis if it concludes it is more likely than not that it will not be able to utilize some or all of its U.S. DTAs on a non-GAAP basis.
FAQ
What was PDF Solutions (PDFS) revenue growth in Q4 2024?
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