Pdf Solutions Financials
This page shows Pdf Solutions (PDFS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Higher-margin growth is improving the core engine, but a debt-funded balance-sheet expansion is absorbing cash first.
FY2025 looked weaker on the surface than FY2024, but the strain came below the operating line: operating margin improved from0.5% to2.7% . At the same time, operating cash flow reached$24.1M , yet new interest expense and heavier capex kept net income and free cash flow negative.
Gross margin widened from
Liquidity remains healthy, with a current ratio of 2.3x, but the company is less cash-cushioned than it was at 3.4x in FY2024. The combination of goodwill rising to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Pdf Solutions's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Pdf Solutions has an operating margin of 2.7%, meaning the company retains $3 of operating profit per $100 of revenue. This below-average margin results in a low score of 25/100, suggesting thin profitability after operating expenses. This is up from 0.5% the prior year.
Pdf Solutions's revenue surged 22.0% year-over-year to $219.0M, reflecting rapid business expansion. This strong growth earns a score of 58/100.
Pdf Solutions carries a low D/E ratio of 0.24, meaning only $0.24 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.
Pdf Solutions's current ratio of 2.28 indicates adequate short-term liquidity, earning a score of 42/100. The company can meet its near-term obligations, though with limited headroom.
While Pdf Solutions generated $24.1M in operating cash flow, capex of $32.6M consumed most of it, leaving -$8.6M in free cash flow. This results in a low score of 18/100, reflecting heavy capital investment rather than weak cash generation.
Pdf Solutions generates a -0.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 13/100. This is down from 1.7% the prior year.
Pdf Solutions scores 8.10, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.9B) relative to total liabilities ($147.7M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Pdf Solutions passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Pdf Solutions generates $-40.09 in operating cash flow ($24.1M OCF vs -$600K net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Pdf Solutions earns $1.5 in operating income for every $1 of interest expense ($5.8M vs $4.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Pdf Solutions generated $219.0M in revenue in fiscal year 2025. This represents an increase of 22.0% from the prior year.
Pdf Solutions's EBITDA was $9.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 117.7% from the prior year.
Pdf Solutions reported -$600K in net income in fiscal year 2025. This represents a decrease of 114.6% from the prior year.
Pdf Solutions earned $-0.02 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 120.0% from the prior year.
Cash & Balance Sheet
Pdf Solutions generated -$8.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 15.1% from the prior year.
Pdf Solutions held $42.2M in cash against $64.8M in long-term debt as of fiscal year 2025.
Pdf Solutions had 40M shares outstanding in fiscal year 2025. This represents an increase of 1.9% from the prior year.
Margins & Returns
Pdf Solutions's gross margin was 72.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.5 percentage points from the prior year.
Pdf Solutions's operating margin was 2.7% in fiscal year 2025, reflecting core business profitability. This is up 2.2 percentage points from the prior year.
Pdf Solutions's net profit margin was -0.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.6 percentage points from the prior year.
Pdf Solutions's ROE was -0.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.9 percentage points from the prior year.
Capital Allocation
Pdf Solutions invested $64.2M in research and development in fiscal year 2025. This represents an increase of 19.9% from the prior year.
Pdf Solutions spent $244K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 96.5% from the prior year.
Pdf Solutions invested $32.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 90.2% from the prior year.
PDFS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $60.1M-3.6% | $62.4M+9.3% | $57.1M+10.4% | $51.7M+8.3% | $47.8M-4.6% | $50.1M+7.9% | $46.4M+11.4% | $41.7M |
| Cost of Revenue | $16.9M0.0% | $16.9M+7.0% | $15.8M+6.4% | $14.9M+14.9% | $13.0M-18.5% | $15.9M+27.4% | $12.5M+2.1% | $12.2M |
| Gross Profit | $43.2M-5.0% | $45.5M+10.1% | $41.3M+12.0% | $36.8M+5.8% | $34.8M+1.9% | $34.2M+0.8% | $33.9M+15.3% | $29.4M |
| R&D Expenses | $18.3M-4.8% | $19.3M+24.8% | $15.4M+3.5% | $14.9M+1.9% | $14.6M+1.5% | $14.4M+6.7% | $13.5M+6.9% | $12.6M |
| SG&A Expenses | $17.5M-19.3% | $21.7M+8.7% | $19.9M+1.0% | $19.7M-15.5% | $23.4M+22.5% | $19.1M+5.4% | $18.1M+11.3% | $16.3M |
| Operating Income | $6.3M+82.6% | $3.5M-28.4% | $4.8M+332.1% | $1.1M+131.4% | -$3.6M-794.3% | $512K-75.8% | $2.1M+702.7% | $264K |
| Interest Expense | $1.1M-6.4% | $1.2M-6.0% | $1.2M-0.3% | $1.2M+299.4% | $311K | N/A | $0 | $0 |
| Income Tax | $1.0M-61.9% | $2.7M+22.5% | $2.2M+304.0% | -$1.1M-3086.1% | $36K-96.1% | $935K-34.3% | $1.4M+3647.4% | $38K |
| Net Income | $4.8M+59987.5% | -$8K-100.6% | $1.3M+12.9% | $1.1M+137.8% | -$3.0M-621.0% | $582K-73.6% | $2.2M+29.4% | $1.7M |
| EPS (Diluted) | $0.12 | N/A | $0.030.0% | $0.03+137.5% | $-0.08 | N/A | $0.06+50.0% | $0.04 |
PDFS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $430.6M+2.8% | $418.7M+3.0% | $406.4M+3.9% | $391.1M+0.3% | $390.0M+23.7% | $315.3M+2.6% | $307.4M+3.1% | $298.0M |
| Current Assets | $175.6M+7.2% | $163.9M+12.2% | $146.1M+8.4% | $134.8M-4.1% | $140.6M-31.7% | $206.0M+7.6% | $191.4M-1.0% | $193.3M |
| Cash & Equivalents | $31.2M-26.2% | $42.2M+17.7% | $35.9M-4.1% | $37.4M-14.4% | $43.7M-51.7% | $90.6M-6.1% | $96.4M+4.8% | $92.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $96.0M+15.8% | $82.9M+10.7% | $74.9M+8.2% | $69.3M+8.8% | $63.7M-13.5% | $73.6M+57.8% | $46.7M-17.3% | $56.4M |
| Goodwill | $95.0M0.0% | $95.0M-1.8% | $96.8M0.0% | $96.8M+0.2% | $96.6M+546.3% | $15.0M-0.4% | $15.0M+0.4% | $15.0M |
| Total Liabilities | $150.1M+1.6% | $147.7M+4.0% | $142.0M+6.3% | $133.6M-5.2% | $141.0M+103.6% | $69.3M+3.5% | $66.9M+1.6% | $65.8M |
| Current Liabilities | $75.0M+4.3% | $71.9M+8.8% | $66.1M+16.0% | $57.0M-11.4% | $64.3M+6.2% | $60.5M+4.9% | $57.7M+4.1% | $55.5M |
| Long-Term Debt | $64.2M-0.8% | $64.8M-0.9% | $65.3M-0.8% | $65.9M-0.8% | $66.4M | $0 | N/A | N/A |
| Total Equity | $280.5M+3.5% | $271.0M+2.5% | $264.4M+2.7% | $257.5M+3.4% | $249.0M+1.2% | $246.0M+2.3% | $240.5M+3.6% | $232.2M |
| Retained Earnings | -$89.8M+5.1% | -$94.6M-0.1% | -$94.6M+1.3% | -$95.9M+1.2% | -$97.0M-3.2% | -$94.0M+0.6% | -$94.5M+2.3% | -$96.7M |
PDFS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.7M-90.3% | $17.3M+427.6% | $3.3M+163.0% | -$5.2M-160.4% | $8.6M+438.0% | $1.6M-82.7% | $9.3M+1256.0% | $684K |
| Capital Expenditures | $10.5M+7.0% | $9.8M+58.2% | $6.2M-27.6% | $8.5M+5.4% | $8.1M+43.8% | $5.6M+35.0% | $4.2M-21.5% | $5.3M |
| Free Cash Flow | -$8.8M-216.5% | $7.5M+360.2% | -$2.9M+78.9% | -$13.8M-2672.1% | $535K+113.3% | -$4.0M-179.0% | $5.1M+210.0% | -$4.6M |
| Investing Cash Flow | -$10.5M-7.2% | -$9.8M-194.6% | -$3.3M-763.4% | -$385K+99.7% | -$123.9M-1922.6% | -$6.1M-52.9% | -$4.0M-158.6% | $6.8M |
| Financing Cash Flow | -$2.1M-141.1% | -$890K+25.3% | -$1.2M+9.2% | -$1.3M-101.9% | $68.0M+21010.2% | -$325K+81.5% | -$1.8M-337.7% | -$401K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | $0-100.0% | $244K | N/A | N/A | $0 | $0 | $0 |
PDFS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.8%-1.0pp | 72.9%+0.6pp | 72.3%+1.0pp | 71.2%-1.7pp | 72.9%+4.6pp | 68.3%-4.8pp | 73.1%+2.5pp | 70.6% |
| Operating Margin | 10.5%+5.0pp | 5.5%-2.9pp | 8.5%+6.3pp | 2.2%+9.6pp | -7.4%-8.5pp | 1.0%-3.5pp | 4.6%+3.9pp | 0.6% |
| Net Margin | 8.0%+8.0pp | -0.0%-2.3pp | 2.3%+0.1pp | 2.2%+8.6pp | -6.3%-7.5pp | 1.2%-3.6pp | 4.8%+0.7pp | 4.1% |
| Return on Equity | 1.7%+1.7pp | -0.0%-0.5pp | 0.5%+0.0pp | 0.4%+1.7pp | -1.2%-1.5pp | 0.2%-0.7pp | 0.9%+0.2pp | 0.7% |
| Return on Assets | 1.1%+1.1pp | 0.0%-0.3pp | 0.3%+0.0pp | 0.3%+1.1pp | -0.8%-1.0pp | 0.2%-0.5pp | 0.7%+0.1pp | 0.6% |
| Current Ratio | 2.34+0.1 | 2.28+0.1 | 2.21-0.2 | 2.37+0.2 | 2.19-1.2 | 3.40+0.1 | 3.32-0.2 | 3.48 |
| Debt-to-Equity | 0.230.0 | 0.240.0 | 0.250.0 | 0.26-0.0 | 0.27+0.3 | 0.00-0.3 | 0.280.0 | 0.28 |
| FCF Margin | -14.6%-26.7pp | 12.1%+17.2pp | -5.1%+21.5pp | -26.6%-27.7pp | 1.1%+9.2pp | -8.1%-19.0pp | 11.0%+22.1pp | -11.1% |
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Frequently Asked Questions
What is Pdf Solutions's annual revenue?
Pdf Solutions (PDFS) reported $219.0M in total revenue for fiscal year 2025. This represents a 22.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Pdf Solutions's revenue growing?
Pdf Solutions (PDFS) revenue grew by 22% year-over-year, from $179.5M to $219.0M in fiscal year 2025.
Is Pdf Solutions profitable?
No, Pdf Solutions (PDFS) reported a net income of -$600K in fiscal year 2025, with a net profit margin of -0.3%.
What is Pdf Solutions's EBITDA?
Pdf Solutions (PDFS) had EBITDA of $9.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Pdf Solutions have?
As of fiscal year 2025, Pdf Solutions (PDFS) had $42.2M in cash and equivalents against $64.8M in long-term debt.
What is Pdf Solutions's gross margin?
Pdf Solutions (PDFS) had a gross margin of 72.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Pdf Solutions's operating margin?
Pdf Solutions (PDFS) had an operating margin of 2.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Pdf Solutions's net profit margin?
Pdf Solutions (PDFS) had a net profit margin of -0.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Pdf Solutions's return on equity (ROE)?
Pdf Solutions (PDFS) has a return on equity of -0.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Pdf Solutions's free cash flow?
Pdf Solutions (PDFS) generated -$8.6M in free cash flow during fiscal year 2025. This represents a -15.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Pdf Solutions's operating cash flow?
Pdf Solutions (PDFS) generated $24.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Pdf Solutions's total assets?
Pdf Solutions (PDFS) had $418.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Pdf Solutions's capital expenditures?
Pdf Solutions (PDFS) invested $32.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Pdf Solutions spend on research and development?
Pdf Solutions (PDFS) invested $64.2M in research and development during fiscal year 2025.
What is Pdf Solutions's current ratio?
Pdf Solutions (PDFS) had a current ratio of 2.28 as of fiscal year 2025, which is generally considered healthy.
What is Pdf Solutions's debt-to-equity ratio?
Pdf Solutions (PDFS) had a debt-to-equity ratio of 0.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pdf Solutions's return on assets (ROA)?
Pdf Solutions (PDFS) had a return on assets of -0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Pdf Solutions's Altman Z-Score?
Pdf Solutions (PDFS) has an Altman Z-Score of 8.10, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Pdf Solutions's Piotroski F-Score?
Pdf Solutions (PDFS) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pdf Solutions's earnings high quality?
Pdf Solutions (PDFS) has an earnings quality ratio of -40.09x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Pdf Solutions cover its interest payments?
Pdf Solutions (PDFS) has an interest coverage ratio of 1.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Pdf Solutions?
Pdf Solutions (PDFS) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.