PDF Solutions® Reports Second Quarter 2025 Financial Results
PDF Solutions (NASDAQ:PDFS) reported strong financial results for Q2 2025, achieving record quarterly revenues of $51.7 million, a 24% increase year-over-year. The company's analytics revenue reached a record $48.8 million, up 28% from the previous year.
The company reported GAAP diluted EPS of $0.03 and non-GAAP diluted EPS of $0.19. Gross margins remained robust with GAAP at 71% and non-GAAP at 76%. The company's backlog grew to $232.6 million as of June 30, 2025.
CEO John Kibarian reaffirmed the company's annual revenue growth guidance of 21-23%, citing strong customer activity and platform development driven by AI-driven digitization. The quarter saw record bookings in both Sapience™ Manufacturing Hub and secureWISE® product lines.
PDF Solutions (NASDAQ:PDFS) ha riportato risultati finanziari solidi per il secondo trimestre del 2025, raggiungendo ricavi trimestrali record di 51,7 milioni di dollari, con un aumento del 24% rispetto all'anno precedente. I ricavi derivanti dall'analitica hanno raggiunto un record di 48,8 milioni di dollari, in crescita del 28% rispetto all'anno precedente.
L'azienda ha registrato un utile diluito per azione GAAP di 0,03 dollari e un utile diluito non-GAAP per azione di 0,19 dollari. I margini lordi sono rimasti solidi, con il GAAP al 71% e il non-GAAP al 76%. L'ordine arretrato dell'azienda è cresciuto fino a 232,6 milioni di dollari al 30 giugno 2025.
Il CEO John Kibarian ha confermato la previsione di crescita dei ricavi annuali tra il 21% e il 23%, citando una forte attività dei clienti e lo sviluppo della piattaforma guidato dalla digitalizzazione basata sull'intelligenza artificiale. Il trimestre ha registrato prenotazioni record sia per le linee di prodotto Sapience™ Manufacturing Hub che secureWISE®.
PDF Solutions (NASDAQ:PDFS) reportó sólidos resultados financieros para el segundo trimestre de 2025, alcanzando ingresos trimestrales récord de 51,7 millones de dólares, un aumento del 24% interanual. Los ingresos por analítica de la compañía alcanzaron un récord de 48,8 millones de dólares, un 28% más que el año anterior.
La empresa reportó un EPS diluido GAAP de 0,03 dólares y un EPS diluido non-GAAP de 0,19 dólares. Los márgenes brutos se mantuvieron sólidos con GAAP en 71% y non-GAAP en 76%. La cartera de pedidos de la compañía creció a 232,6 millones de dólares al 30 de junio de 2025.
El CEO John Kibarian reafirmó la guía de crecimiento anual de ingresos de la empresa entre 21% y 23%, citando una fuerte actividad de clientes y desarrollo de la plataforma impulsado por la digitalización basada en IA. El trimestre vio reservas récord en las líneas de productos Sapience™ Manufacturing Hub y secureWISE®.
PDF Solutions (NASDAQ:PDFS)는 2025년 2분기에 강력한 재무 실적을 보고하며 분기별 매출 기록인 5,170만 달러를 달성해 전년 대비 24% 증가했습니다. 회사의 분석 수익은 전년 대비 28% 증가한 4,880만 달러로 최고치를 기록했습니다.
회사는 GAAP 희석 주당순이익(EPS) 0.03달러와 비-GAAP 희석 주당순이익 0.19달러를 보고했습니다. 총 마진은 GAAP 기준 71%, 비-GAAP 기준 76%로 견고하게 유지되었습니다. 2025년 6월 30일 기준 회사의 수주 잔액은 2억 3,260만 달러로 증가했습니다.
CEO John Kibarian은 AI 기반 디지털화가 주도하는 강력한 고객 활동과 플랫폼 개발을 언급하며 연간 매출 성장 가이던스를 21-23%로 재확인했습니다. 이번 분기에는 Sapience™ Manufacturing Hub와 secureWISE® 제품 라인에서 기록적인 예약 실적을 보였습니다.
PDF Solutions (NASDAQ:PDFS) a annoncé des résultats financiers solides pour le deuxième trimestre 2025, atteignant un chiffre d'affaires trimestriel record de 51,7 millions de dollars, soit une augmentation de 24 % par rapport à l'année précédente. Les revenus analytiques de la société ont atteint un record de 48,8 millions de dollars, en hausse de 28 % par rapport à l'année précédente.
La société a déclaré un BPA dilué GAAP de 0,03 $ et un BPA dilué non-GAAP de 0,19 $. Les marges brutes sont restées solides, avec 71 % selon GAAP et 76 % selon non-GAAP. Le carnet de commandes de l'entreprise a augmenté pour atteindre 232,6 millions de dollars au 30 juin 2025.
Le PDG John Kibarian a réaffirmé les prévisions de croissance annuelle du chiffre d'affaires entre 21 % et 23 %, citant une forte activité client et le développement de la plateforme soutenu par la numérisation pilotée par l'IA. Le trimestre a enregistré des commandes record sur les gammes de produits Sapience™ Manufacturing Hub et secureWISE®.
PDF Solutions (NASDAQ:PDFS) meldete starke Finanzergebnisse für das zweite Quartal 2025 und erzielte rekordverdächtige Quartalserlöse von 51,7 Millionen US-Dollar, eine Steigerung von 24 % im Jahresvergleich. Die Analyseerlöse des Unternehmens erreichten mit 48,8 Millionen US-Dollar einen Rekord, was einem Anstieg von 28 % gegenüber dem Vorjahr entspricht.
Das Unternehmen berichtete über ein GAAP verwässertes Ergebnis je Aktie (EPS) von 0,03 US-Dollar und ein non-GAAP verwässertes EPS von 0,19 US-Dollar. Die Bruttomargen blieben robust bei 71 % GAAP und 76 % non-GAAP. Der Auftragsbestand des Unternehmens wuchs bis zum 30. Juni 2025 auf 232,6 Millionen US-Dollar.
CEO John Kibarian bestätigte die Prognose für das jährliche Umsatzwachstum von 21-23 % und verwies auf eine starke Kundenaktivität sowie die plattformbasierte Entwicklung, die durch KI-getriebene Digitalisierung vorangetrieben wird. Im Quartal wurden Rekordbuchungen sowohl bei den Produktlinien Sapience™ Manufacturing Hub als auch secureWISE® verzeichnet.
- None.
- GAAP net income decreased to $1.1M from $1.7M in Q2 2024
- Sequential decline in non-GAAP net income from $8.1M to $7.3M
- Integrated Yield Ramp revenue declined to $2.9M from $3.5M YoY
Insights
PDF Solutions delivered strong Q2 results with record revenues up 24% YoY and growing backlog, maintaining solid profitability.
PDF Solutions has posted impressive growth metrics in Q2 2025, with
The company maintained healthy profitability with GAAP gross margins holding steady at
Particularly noteworthy is the growing backlog, which increased to
The company's strategic positioning appears strong, focusing on AI-driven digitization for semiconductor manufacturing - an area experiencing robust demand. Management has maintained their full-year guidance of
Announces Record Second Quarter 2025 Total Revenues
SANTA CLARA, Calif., Aug. 07, 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 second quarter ended June 30, 2025.
Financial Highlights of Second Quarter 2025
- Record quarterly total revenues of
$51.7 million , up24% over last year’s comparable quarter - Record quarterly analytics revenue of
$48.8 million , up28% over last year’s comparable quarter - GAAP gross margin of
71% and non-GAAP gross margin of76% - GAAP diluted earnings per share (EPS) of
$0.03 and non-GAAP diluted EPS of$0.19 - Backlog grew versus the last quarter to
$232.6 million as of June 30, 2025
Total revenues for the second quarter of 2025 were
GAAP gross margin for the second quarter of 2025 was
Non-GAAP gross margin for the second quarter of 2025 was
On a GAAP basis, net income for the second quarter of 2025 was
Non-GAAP net income for the second quarter of 2025 was
Financial Outlook
“The second quarter of 2025 saw strong customer activity and platform development, driven by AI-driven digitization. We achieved record bookings in both our Sapience™ Manufacturing Hub product family and newly acquired secureWISE® offering. The PDF Platform - spanning analytics, AI/Model Ops, enterprise connectivity, equipment, and supply chain - empowers customers to handle today’s complex manufacturing and testing environments and data requirements. With a strong portfolio and momentum, we reaffirm our 21
PDF Solutions® Reports Second Quarter 2025 Financial Results
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-conf.media-server.com/register/BId4a92799e4e24169a58f6ea3c713566b. 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 on and following the date of this release.
Second Quarter 2025 Financial Commentary Available Online
A Management Report reviewing the Company’s second quarter 2025 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, amortization of debt issuance costs and the effects of certain non-recurring items, such as expenses for certain legal proceedings, non-recurring legal, finance, integration and other costs, 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, finance, integration and other costs) 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 unaudited condensed consolidated financial statements presented below.
PDF Solutions® Reports Second Quarter 2025 Financial Results
About PDF Solutions
PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystems 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 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.
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, portfolio strength and momentum 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 impacting the semiconductor industry, the Company’s customers, operations, and supply and demand for its products; supply chain disruptions; changes in laws and regulations, including recent tax and data privacy laws and regulations, or the interpretation or enforcement thereof; 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 and uncertainties discussed 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, 2024, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K and any amendments to such reports. All 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.
PDF Solutions® Reports Second Quarter 2025 Financial Results
PDF SOLUTIONS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In thousands)
| June 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 37,415 | $ | 90,594 | ||||
| Short-term investments | 2,987 | 24,291 | ||||||
| Accounts receivable, net | 69,264 | 73,649 | ||||||
| Prepaid expenses and other current assets | 25,124 | 17,445 | ||||||
| Total current assets | 134,790 | 205,979 | ||||||
| Property and equipment, net | 61,853 | 48,465 | ||||||
| Operating lease right-of-use assets, net | 4,843 | 4,029 | ||||||
| Goodwill | 96,798 | 14,953 | ||||||
| Intangible assets, net | 56,330 | 12,307 | ||||||
| Deferred tax assets, net | 1,209 | 43 | ||||||
| Other non-current assets | 35,310 | 29,513 | ||||||
| Total assets | $ | 391,133 | $ | 315,289 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 6,555 | $ | 8,255 | ||||
| Accrued compensation and related benefits | 13,984 | 16,855 | ||||||
| Accrued and other current liabilities | 9,069 | 8,752 | ||||||
| Operating lease liabilities ‒ current portion | 1,752 | 1,675 | ||||||
| Deferred revenues ‒ current portion | 23,363 | 25,005 | ||||||
| Current portion of long-term debt, net | 2,240 | — | ||||||
| Total current liabilities | 56,963 | 60,542 | ||||||
| Long-term income taxes | 2,958 | 2,915 | ||||||
| Non-current operating lease liabilities | 4,176 | 3,504 | ||||||
| Long-term debt, net | 65,877 | — | ||||||
| Other non-current liabilities | 3,639 | 2,291 | ||||||
| Total liabilities | 133,613 | 69,252 | ||||||
| Stockholders’ equity: | ||||||||
| Common stock and additional paid-in capital | 518,061 | 502,908 | ||||||
| Treasury stock, at cost | (162,887 | ) | (159,352 | ) | ||||
| Accumulated deficit | (95,874 | ) | (93,988 | ) | ||||
| Accumulated other comprehensive loss | (1,780 | ) | (3,531 | ) | ||||
| Total stockholders’ equity | 257,520 | 246,037 | ||||||
| Total liabilities and stockholders’ equity | $ | 391,133 | $ | 315,289 | ||||
PDF Solutions® Reports Second Quarter 2025 Financial Results
PDF SOLUTIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except per share amounts)
| Three months ended | Six months ended | |||||||||||||||||||
| June 30, | March 31, | June 30, | June 30, | June 30, | ||||||||||||||||
| 2025 (1) | 2025 (1) | 2024 | 2025 (1) | 2024 | ||||||||||||||||
| Revenues: | ||||||||||||||||||||
| Analytics | $ | 48,822 | $ | 42,471 | $ | 38,114 | $ | 91,293 | $ | 76,577 | ||||||||||
| Integrated yield ramp | 2,906 | 5,307 | 3,547 | 8,213 | 6,394 | |||||||||||||||
| Total revenues | 51,728 | 47,778 | 41,661 | 99,506 | 82,971 | |||||||||||||||
| Costs and Expenses: | ||||||||||||||||||||
| Costs of revenues | 14,886 | 12,955 | 12,230 | 27,841 | 25,759 | |||||||||||||||
| Research and development | 14,913 | 14,628 | 12,649 | 29,541 | 25,633 | |||||||||||||||
| Selling, general, and administrative | 19,744 | 23,372 | 16,259 | 43,116 | 32,757 | |||||||||||||||
| Amortization of acquired intangible assets | 1,068 | 378 | 259 | 1,446 | 518 | |||||||||||||||
| Income (loss) from operations | 1,117 | (3,555 | ) | 264 | (2,438 | ) | (1,696 | ) | ||||||||||||
| Interest expense | (1,242 | ) | (311 | ) | — | (1,553 | ) | — | ||||||||||||
| Interest income and other, net | 196 | 870 | 1,479 | 1,066 | 3,171 | |||||||||||||||
| Income (loss) before income tax benefit (expense) | 71 | (2,996 | ) | 1,743 | (2,925 | ) | 1,475 | |||||||||||||
| Income tax benefit (expense) | 1,075 | (36 | ) | (38 | ) | 1,039 | (163 | ) | ||||||||||||
| Net income (loss) | $ | 1,146 | $ | (3,032 | ) | $ | 1,705 | $ | (1,886 | ) | $ | 1,312 | ||||||||
| Net income (loss) per share: | ||||||||||||||||||||
| Basic | $ | 0.03 | $ | (0.08 | ) | $ | 0.04 | $ | (0.05 | ) | $ | 0.03 | ||||||||
| Diluted | $ | 0.03 | $ | (0.08 | ) | $ | 0.04 | $ | (0.05 | ) | $ | 0.03 | ||||||||
| Weighted average common shares used to calculate net income (loss) per share: | ||||||||||||||||||||
| Basic | 39,148 | 39,088 | 38,619 | 39,118 | 38,456 | |||||||||||||||
| Diluted | 39,260 | 39,088 | 39,132 | 39,118 | 38,989 | |||||||||||||||
| (1 | ) | Analytics Revenue includes revenue from SecureWise LLC, a wholly owned subsidiary we acquired in March 2025. |
PDF Solutions® Reports Second Quarter 2025 Financial Results
PDF SOLUTIONS, INC.
RECONCILIATION OF GAAP GROSS MARGIN TO NON-GAAP GROSS MARGIN (UNAUDITED)
(In thousands)
| Three months ended | Six months ended | |||||||||||||||||||
| June 30, | March 31, | June 30, | June 30, | June 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||
| GAAP | ||||||||||||||||||||
| Total revenues | $ | 51,728 | $ | 47,778 | $ | 41,661 | $ | 99,506 | $ | 82,971 | ||||||||||
| Costs of revenues | 14,886 | 12,955 | 12,230 | 27,841 | 25,759 | |||||||||||||||
| GAAP gross profit | $ | 36,842 | $ | 34,823 | $ | 29,431 | $ | 71,665 | $ | 57,212 | ||||||||||
| GAAP gross margin | 71 | % | 73 | % | 71 | % | 72 | % | 69 | % | ||||||||||
| Non-GAAP | ||||||||||||||||||||
| GAAP gross profit | $ | 36,842 | $ | 34,823 | $ | 29,431 | $ | 71,665 | $ | 57,212 | ||||||||||
| Adjustments to reconcile GAAP to non-GAAP gross margin: | ||||||||||||||||||||
| Stock-based compensation expense | 1,257 | 1,342 | 1,185 | 2,599 | 2,385 | |||||||||||||||
| Amortization of acquired technology | 998 | 678 | 584 | 1,676 | 1,168 | |||||||||||||||
| Non-GAAP gross profit | $ | 39,097 | $ | 36,843 | $ | 31,200 | $ | 75,940 | $ | 60,765 | ||||||||||
| Non-GAAP gross margin | 76 | % | 77 | % | 75 | % | 76 | % | 73 | % | ||||||||||
PDF Solutions® Reports Second Quarter 2025 Financial Results
PDF SOLUTIONS, INC.
RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME (UNAUDITED)
(In thousands, except per share amounts)
| Three months ended | Six months ended | |||||||||||||||||||
| June 30, | March 31, | June 30, | June 30, | June 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||
| GAAP net income (loss) | $ | 1,146 | $ | (3,032 | ) | $ | 1,705 | $ | (1,886 | ) | $ | 1,312 | ||||||||
| Adjustments to reconcile GAAP net income (loss) to non-GAAP net income: | ||||||||||||||||||||
| Stock-based compensation expense | 6,199 | 6,596 | 5,700 | 12,795 | 11,810 | |||||||||||||||
| Amortization of acquired technology under costs of revenues | 998 | 678 | 584 | 1,676 | 1,168 | |||||||||||||||
| Amortization of other acquired intangible assets | 1,068 | 378 | 259 | 1,446 | 518 | |||||||||||||||
| Expenses for certain legal proceedings (1) | 112 | 115 | — | 227 | — | |||||||||||||||
| Non-recurring legal, finance, integration and other costs | 159 | 4,345 | — | 4,504 | — | |||||||||||||||
| Recovery from previously written-off property and equipment | (663 | ) | — | — | (663 | ) | — | |||||||||||||
| Amortization of debt issuance costs | 71 | 5 | — | 76 | — | |||||||||||||||
| Tax impact of valuation allowance for deferred tax assets and reconciling items (2) | (1,789 | ) | (970 | ) | (1,159 | ) | (2,759 | ) | (1,972 | ) | ||||||||||
| Non-GAAP net income | $ | 7,301 | $ | 8,115 | $ | 7,089 | $ | 15,416 | $ | 12,836 | ||||||||||
| GAAP net income (loss) per diluted share | $ | 0.03 | $ | (0.08 | ) | $ | 0.04 | $ | (0.05 | ) | $ | 0.03 | ||||||||
| Non-GAAP net income per diluted share | $ | 0.19 | $ | 0.21 | $ | 0.18 | $ | 0.39 | $ | 0.33 | ||||||||||
| Weighted average common shares used in GAAP net income (loss) per diluted share calculation | 39,260 | 39,088 | 39,132 | 39,118 | 38,989 | |||||||||||||||
| Weighted average common shares used in non-GAAP net income per diluted share calculation | 39,260 | 39,285 | 39,132 | 39,273 | 38,989 | |||||||||||||||
| ________________________ | ||
| (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. |
| Company Contacts: | ||
| Adnan Raza | Sonia Segovia | |
| Chief Financial Officer | Investor Relations | |
| Tel: (408) 280-7900 | Tel: (408) 938-6491 | |
| Email: adnan.raza@pdf.com | Email: sonia.segovia@pdf.com |
FAQ
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