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PDF Solutions, Inc. provides proprietary software, physical intellectual property for integrated circuit designs, electrical measurement hardware tools, proven methodologies, and professional services in the United States, Japan, China, and internationally. The company offers Exensio software, such as Manufacturing Analytics, which uses a proprietary database schema to store collected data; Process Control, which provides failure detection and classification capabilities for monitoring, alarming, and controlling manufacturing tool sets; Test Operations, which offer data collection and analysis capabilities; and Assembly Operations, which provide device manufacturers with the capability to link assembly and packaging data, including fabrication and characterization data across the product life cycle. It also provides Sapience Data Platform, which unifies fragmented data from diverse equipment and protocols across the factory floor; Sapience Manufacturing Hub enterprise, a connectivity platform between enterprise applications; DirectScan systems, such as Proprietary Software and eProbe Non-Contact E-Beam Tool; and Characterization Vehicle (CV) system, which includes CV Test Chips, pdFasTest Electrical Tester, and Exensio characterization software. In addition, the company offers Cimetrix software products that enable equipment manufacturers to provide standard interfaces on their products for equipment communication, control, and data collection; equipment factory connectivity products, such as Cimetrix CIMConnect, Cimetrix CIM300, and Cimetrix CIMPortal Plus; equipment factory connectivity testing and control products; secureWISE systems, including software, servers, and networks; software-as-a-service; software and hardware installation and configuration; system/data integration, and value realization; and technical support and maintenance for hardware and software. PDF Solutions, Inc. was founded in 1991 and is headquartered in Santa Clara, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $219M | $18M | $-1M | $-9M | -0.2% | 22.0% | -115.8% |
| 2024 | $179M | $13M | $4M | $-8M | 1.6% | 8.2% | 30.7% |
| 2023 | $166M | $13M | $3M | $3M | 1.4% | 11.6% | -190.6% |
| 2022 | $149M | $7M | $-3M | $24M | -1.6% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 148.55 | 165.84 | 179.46 | 219.02 |
| Operating Revenue | - | 148.55 | 165.84 | 179.46 | 219.02 |
| Cost Of Revenue | - | 47.91 | 51.75 | 54.14 | 60.62 |
| Gross Profit | - | 100.64 | 114.09 | 125.32 | 158.40 |
| Operating Expense | - | 102.73 | 114.24 | 124.39 | 152.55 |
| Selling General And Administration | - | 45.34 | 62.22 | 69.92 | 84.74 |
| Total Expenses | - | 150.64 | 165.99 | 178.53 | 213.18 |
| Operating Income | - | -2.09 | -0.15 | 0.94 | 5.85 |
| Total Operating Income As Reported | - | - | -0.15 | 0.94 | 5.85 |
| EBITDA | - | 6.92 | 13.41 | 13.44 | 18.50 |
| Normalized EBITDA | - | 6.92 | 13.41 | 13.44 | 18.50 |
| EBIT | - | -2.09 | 4.87 | 6.58 | 7.16 |
| Interest Income | - | 2.56 | 5.02 | 5.64 | 1.31 |
| Interest Expense | - | - | 0 | 0 | 3.96 |
| Net Interest Income | - | 2.56 | 5.02 | 5.64 | -2.65 |
| Other Income Expense | -3.18 | - | - | - | - |
| Interest Income Non Operating | - | 2.56 | 5.02 | 5.64 | 1.31 |
| Interest Expense Non Operating | - | - | 0 | 0 | 3.96 |
| Net Non Operating Interest Income Expense | - | 2.56 | 5.02 | 5.64 | -2.65 |
| Pretax Income | - | 0.47 | 4.87 | 6.58 | 3.20 |
| Tax Provision | - | 3.90 | 1.76 | 2.52 | 3.84 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -3.43 | 3.10 | 4.06 | -0.64 |
| Net Income From Continuing And Discontinued Operation | - | -3.43 | 3.10 | 4.06 | -0.64 |
| Net Income From Continuing Operation Net Minority Interest | - | -3.43 | 3.10 | 4.06 | -0.64 |
| Net Income | - | -3.43 | 3.10 | 4.06 | -0.64 |
| Net Income Common Stockholders | - | -3.43 | 3.10 | 4.06 | -0.64 |
| Net Income Including Noncontrolling Interests | - | -3.43 | 3.10 | 4.06 | -0.64 |
| Normalized Income | - | -3.43 | 3.10 | 4.06 | -0.64 |
| Diluted NI Availto Com Stockholders | - | -3.43 | 3.10 | 4.06 | -0.64 |
| Basic Average Shares | - | 37.31 | 38.02 | 38.60 | 39.32 |
| Diluted Average Shares | - | 37.31 | 38.94 | 39.05 | 39.32 |
| Reconciled Depreciation | - | 9.01 | 8.54 | 6.86 | 11.34 |
| Reconciled Cost Of Revenue | - | 40.17 | 44.50 | 48.18 | 52.87 |
| Total Unusual Items | -3.18 | 0 | 0 | - | - |
| Total Unusual Items Excluding Goodwill | -3.18 | 0 | 0 | - | - |
| Special Income Charges | -3.18 | 0 | 0 | - | - |
| Impairment Of Capital Assets | 3.18 | 0 | 0 | - | - |
| Restructuring And Mergern Acquisition | 0 | 0 | - | - | - |
| Depreciation Amortization Depletion Income Statement | - | 1.27 | 1.28 | 0.90 | 3.58 |
| Depreciation And Amortization In Income Statement | - | 1.27 | 1.28 | 0.90 | 3.58 |
| Total Other Finance Cost | -0.68 | -2.56 | -5.02 | -5.64 | - |
| Amortization | - | 1.27 | 1.28 | 0.90 | 3.58 |
| Amortization Of Intangibles Income Statement | - | 1.27 | 1.28 | 0.90 | 3.58 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| PDF Solutions, Inc.this co. | PDFS | $2.4B | -3688.94 | 8.71 | -0.2% | 129.30 |
| Quantum Computing Inc. | QUBT | $2.5B | -135.15 | 1.58 | -1.2% | -130.81 |
| Agilysys, Inc. | AGYS | $2.5B | 64.93 | 7.71 | 11.9% | 40.93 |
| PagSeguro Digital Ltd. | PAGS | $2.5B | 1.16 | 0.17 | 14.5% | 5.00 |
| Bandwidth Inc. | BAND | $2.3B | -181.49 |
| - |
| - |
| - |
| - |
| - |
| 5.86 |
| -3.2% |
| 69.40 |
| AvePoint, Inc. | AVPT | $2.3B | 66.35 | 4.82 | 7.3% | 46.83 |
| BigBear.ai Holdings, Inc. | BBAI | $2.3B | -7.77 | 3.73 | -48.0% | -8.19 |
| A10 Networks, Inc. | ATEN | $2.3B | 54.16 | 10.79 | 19.9% | 33.13 |
| LiveRamp Holdings, Inc. | RAMP | $2.2B | 15.39 | 2.31 | 15.0% | 17.01 |
| Peer Median | - | 8.28 | 4.28 | 9.6% | 25.07 | |