About PDF Solutions
PDF Solutions (NASDAQ: PDFS) offers an end-to-end analytics platform that empowers engineers and data scientists across the semiconductor ecosystem to rapidly improve the yield, quality, and profitability of their products. By combining industry-leading data analytics and professional services with exclusive, differentiated product data generated during the manufacturing process, PDF Solutions is delivering on the promise of Industry 4.0 today by transforming how the ecosystem collects, analyzes, and shares data. Key Fortune 500 organizations around the world rely on PDF Solutions to remove the data barriers that encumber and constrain new product introductions and to deliver the machine learning insights that drive efficient and profitable high-volume manufacturing.
Headquartered in Santa Clara, California, PDF Solutions also operates worldwide in Canada, China, France, Germany, Italy, Japan, Korea, and Taiwan. For the Company’s latest news and information, visit http://www.pdf.com/.
Characterization Vehicle, Design-for-Inspection, DFI, Exensio, 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, | ||||||||
| 2019 | 2018 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 97,605 | $ | 96,089 | ||||
| Accounts receivable, net | 40,651 | 51,570 | ||||||
| Prepaid expenses and other current assets | 9,320 | 9,562 | ||||||
| Total current assets | 147,576 | 157,221 | ||||||
| Property and equipment, net | 40,798 | 35,681 | ||||||
| Operating lease right-of-use assets, net | 7,609 | — | ||||||
| Goodwill | 2,293 | 1,923 | ||||||
| Intangible assets, net | 6,221 | 5,064 | ||||||
| Deferred tax assets | 25,327 | 19,044 | ||||||
| Other non-current assets | 9,720 | 6,972 | ||||||
| Total assets | $ | 239,544 | $ | 225,905 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 7,636 | $ | 2,454 | ||||
| Accrued compensation and related benefits | 5,072 | 4,727 | ||||||
| Accrued and other current liabilities | 1,665 | 3,235 | ||||||
| Operating lease liabilities - current portion | 1,867 | — | ||||||
| Deferred revenues - current portion | 10,639 | 8,477 | ||||||
| Billings in excess of recognized revenues | 1,117 | 635 | ||||||
| Total current liabilities | 27,996 | 19,528 | ||||||
| Long-term income taxes payable | 5,368 | 3,751 | ||||||
| Non-current operating lease liabilities | 7,677 | — | ||||||
| Other non-current liabilities | 2,346 | 2,831 | ||||||
| Total liabilities | 43,387 | 26,110 | ||||||
| Stockholders’ equity: | ||||||||
| Common stock and additional paid-in-capital | 325,202 | 310,665 | ||||||
| Treasury stock at cost | (91,695 | ) | (79,142 | ) | ||||
| Accumulated deficit | (35,870 | ) | (30,452 | ) | ||||
| Accumulated other comprehensive loss | (1,480 | ) | (1,276 | ) | ||||
| Total stockholders’ equity | 196,157 | 199,795 | ||||||
| Total liabilities and stockholders’ equity | $ | 239,544 | $ | 225,905 | ||||
