$PDFS
PDF SOLUTIONS INC

2022 Q3 Form 10-Q Financial Statement

#000155837022013302 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $39.86M $34.67M $33.50M
YoY Change 34.87% 26.44% 38.42%
Cost Of Revenue $12.55M $12.04M $11.53M
YoY Change 13.32% 11.66% 8.12%
Gross Profit $27.32M $22.63M $21.97M
YoY Change 47.77% 36.02% 62.29%
Gross Profit Margin 68.53% 65.26% 65.58%
Selling, General & Admin $12.01M $9.770M $10.84M
YoY Change 24.93% 3.83% 14.53%
% of Gross Profit 43.95% 43.18% 49.34%
Research & Development $14.30M $13.37M $14.09M
YoY Change 34.21% 20.88% 29.96%
% of Gross Profit 52.36% 59.11% 64.13%
Depreciation & Amortization $2.271M $2.260M $1.380M
YoY Change 1.84% -8.61% -19.67%
% of Gross Profit 8.31% 9.99% 6.28%
Operating Expenses $26.31M $23.14M $24.93M
YoY Change 29.81% 13.04% 22.77%
Operating Profit $1.007M -$518.0K -$2.959M
YoY Change -156.54% -86.51% -56.28%
Interest Expense $1.511M $991.0K $310.0K
YoY Change 678.87% -507.82% -29.55%
% of Operating Profit 150.05%
Other Income/Expense, Net
YoY Change
Pretax Income $2.200M $159.0K -$2.963M
YoY Change -215.73% -103.62% -55.38%
Income Tax $815.0K $1.306M $1.200M
% Of Pretax Income 37.05% 821.38%
Net Earnings $1.385M -$1.147M -$4.150M
YoY Change -157.54% -74.42% -45.37%
Net Earnings / Revenue 3.47% -3.31% -12.39%
Basic Earnings Per Share $0.04 -$0.03 -$0.11
Diluted Earnings Per Share $0.04 -$0.03 -$0.11
COMMON SHARES
Basic Shares Outstanding 37.28M 37.03M 37.61M
Diluted Shares Outstanding 38.05M 37.03M 37.61M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $116.1M $117.3M $134.2M
YoY Change -17.8% -15.77% 1.47%
Cash & Equivalents $93.73M $81.34M $35.80M
Short-Term Investments $22.36M $35.91M $98.44M
Other Short-Term Assets $9.463M $10.41M $8.857M
YoY Change -8.11% -18.14% -22.31%
Inventory
Prepaid Expenses
Receivables $54.98M $36.12M $37.75M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $180.5M $163.8M $180.9M
YoY Change -2.53% -10.03% 1.35%
LONG-TERM ASSETS
Property, Plant & Equipment $38.74M $38.39M $36.84M
YoY Change 2.43% 1.09% -3.42%
Goodwill $14.10M $14.10M $14.10M
YoY Change -7.87% -7.87% -7.87%
Intangibles $18.93M $19.51M $20.37M
YoY Change -14.35% -14.73% -14.13%
Long-Term Investments
YoY Change
Other Assets $7.611M $8.088M $8.840M
YoY Change -15.39% -13.7% -3.28%
Total Long-Term Assets $85.45M $85.39M $84.73M
YoY Change -5.08% -6.81% -8.59%
TOTAL ASSETS
Total Short-Term Assets $180.5M $163.8M $180.9M
Total Long-Term Assets $85.45M $85.39M $84.73M
Total Assets $266.0M $249.2M $265.6M
YoY Change -3.36% -8.95% -2.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.186M $3.382M $4.053M
YoY Change 61.56% -52.22% 319.13%
Accrued Expenses $6.472M $6.237M $4.602M
YoY Change 10.56% 5.48% -44.36%
Deferred Revenue $26.46M $19.57M $23.87M
YoY Change 19.16% 22.71% 35.78%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $52.40M $41.79M $42.57M
YoY Change 27.38% 4.04% 21.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.37M $9.498M $2.034M
YoY Change 295.65% 420.15% 18.6%
Total Long-Term Liabilities $10.37M $9.498M $2.034M
YoY Change 295.65% 420.15% 18.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $52.40M $41.79M $42.57M
Total Long-Term Liabilities $10.37M $9.498M $2.034M
Total Liabilities $62.77M $51.29M $52.01M
YoY Change 21.25% 1.48% 13.37%
SHAREHOLDERS EQUITY
Retained Earnings -$101.6M -$103.0M -$101.9M
YoY Change 12.03% 16.65% 21.52%
Common Stock $6.000K $6.000K $6.000K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $133.0M $131.4M $113.9M
YoY Change 27.86% 27.43% 11.42%
Treasury Stock Shares $11.15M $11.08M $10.34M
Shareholders Equity $203.2M $197.9M $213.6M
YoY Change
Total Liabilities & Shareholders Equity $266.0M $249.2M $265.6M
YoY Change -3.36% -8.95% -2.05%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $1.385M -$1.147M -$4.150M
YoY Change -157.54% -74.42% -45.37%
Depreciation, Depletion And Amortization $2.271M $2.260M $1.380M
YoY Change 1.84% -8.61% -19.67%
Cash From Operating Activities $1.403M $3.624M $2.996M
YoY Change -65.12% -55.45% -135.99%
INVESTING ACTIVITIES
Capital Expenditures -$2.268M -$2.822M $1.765M
YoY Change 42.46% 431.45% 201.19%
Acquisitions
YoY Change
Other Investing Activities $13.63M $62.54M $14.04M
YoY Change -175.75% 940.93% -75.37%
Cash From Investing Activities $11.36M $59.72M $12.28M
YoY Change -158.01% 992.32% -78.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.778M
YoY Change 27.75%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 184.0K -17.38M -6.990M
YoY Change -154.93% 2537.33% 55.44%
NET CHANGE
Cash From Operating Activities 1.403M 3.624M 2.996M
Cash From Investing Activities 11.36M 59.72M 12.28M
Cash From Financing Activities 184.0K -17.38M -6.990M
Net Change In Cash 12.95M 45.96M 8.115M
YoY Change -181.44% 255.1% -81.34%
FREE CASH FLOW
Cash From Operating Activities $1.403M $3.624M $2.996M
Capital Expenditures -$2.268M -$2.822M $1.765M
Free Cash Flow $3.671M $6.446M $1.231M
YoY Change -34.61% -25.62% -113.81%

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37028000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37004000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37316000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36989000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
219585000
CY2022Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1502000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
675000
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3389000
CY2022Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
5778000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
5553000
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4581000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
213567000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
113000
CY2022Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
800000
CY2022Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
16693000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
3872000
CY2021Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-8125000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
225253000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
234506000
CY2021Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
921000
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
568000
CY2021Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1463000
CY2021Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4523000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
3369000
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
290000
CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
887000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
2742000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4274000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
223124000
us-gaap Profit Loss
ProfitLoss
-5297000
us-gaap Profit Loss
ProfitLoss
-12081000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2773000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3345000
us-gaap Share Based Compensation
ShareBasedCompensation
9425000
us-gaap Share Based Compensation
ShareBasedCompensation
6111000
pdfs Amortization Of Acquired Intangible Assets
AmortizationOfAcquiredIntangibleAssets
1734000
pdfs Amortization Of Acquired Intangible Assets
AmortizationOfAcquiredIntangibleAssets
1698000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
755000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
327000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
17000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
84000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-20000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-133000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3910000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3989000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3208000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1235000
pdfs Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-1238000
pdfs Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-740000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-1002000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-362000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3633000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1723000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
1362000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1028000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2147000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
116000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-4789000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-3514000
pdfs Increase Decrease Contract With Customer Liability Revenue Recognized
IncreaseDecreaseContractWithCustomerLiabilityRevenueRecognized
480000
pdfs Increase Decrease Contract With Customer Liability Revenue Recognized
IncreaseDecreaseContractWithCustomerLiabilityRevenueRecognized
848000
pdfs Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-1316000
pdfs Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-837000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6620000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-195000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
112500000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
109000000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
35920000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
788000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
793000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
45992000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4454000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1121000
pdfs Prepayments To Acquire Property Plant And Equipment
PrepaymentsToAcquirePropertyPlantAndEquipment
133000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
71993000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
61887000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1502000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
921000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4189000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2350000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
22471000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4523000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-24370000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5159000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-584000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-128000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
53659000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
56405000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
27684000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33815000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
81343000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
90220000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81343000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
87201000
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
3019000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
81343000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
90220000
us-gaap Income Taxes Paid
IncomeTaxesPaid
1690000
us-gaap Income Taxes Paid
IncomeTaxesPaid
1275000
us-gaap Operating Lease Payments
OperatingLeasePayments
795000
us-gaap Operating Lease Payments
OperatingLeasePayments
1076000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2466000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
530000
pdfs Advances For Purchase Of Fixed Assets Transferred From Prepaid Assets To Property And Equipment
AdvancesForPurchaseOfFixedAssetsTransferredFromPrepaidAssetsToPropertyAndEquipment
333000
pdfs Advances For Purchase Of Fixed Assets Transferred From Prepaid Assets To Property And Equipment
AdvancesForPurchaseOfFixedAssetsTransferredFromPrepaidAssetsToPropertyAndEquipment
963000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1137000
pdfs Noncash Release Of Restricted Cash Reducing Goodwill Acquisition Purchase Price Adjustment
NoncashReleaseOfRestrictedCashReducingGoodwillAcquisitionPurchasePriceAdjustment
469000
CY2021Q2 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2022Q2 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in these financial statements include revenue recognition, the estimated useful lives of property and equipment and intangible assets, assumptions made in analysis of allowance for doubtful accounts, impairment of goodwill and long-lived assets, valuation for deferred tax assets, and accounting for lease obligations, stock-based compensation expense, and income tax uncertainties and contingencies. Actual results could differ from those estimates and may result in material effects on the Company’s operating results and financial position.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The global COVID-19 pandemic (“COVID-19”) has impacted the operations and purchasing decisions of companies worldwide. As of the date of issuance of the condensed consolidated financial statements, the Company is not aware of any specific event or circumstance relating to COVID-19 that would require updates to the Company’s estimates and judgments or revisions to the carrying value of its assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the financial statements.</p>
pdfs Number Of Revenue Sources
NumberOfRevenueSources
2
CY2022Q2 pdfs Percent Of Revenue
PercentOfRevenue
1
CY2021Q2 pdfs Percent Of Revenue
PercentOfRevenue
1
pdfs Percent Of Revenue
PercentOfRevenue
1
pdfs Percent Of Revenue
PercentOfRevenue
1
CY2022Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
2800000
CY2021Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
400000
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2021 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
7200000
CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6500000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
11800000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
10500000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
184400000
CY2022Q2 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
500000
CY2021Q2 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
400000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
500000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
100000
CY2022Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
600000
CY2021Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
200000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
800000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
300000
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2022Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
8900000
CY2021Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
11800000
CY2022Q2 pdfs Unbilled Receivables Not Expected To Be Billed And Collected In Next Twelve Months
UnbilledReceivablesNotExpectedToBeBilledAndCollectedInNextTwelveMonths
1100000
CY2021Q4 pdfs Unbilled Receivables Not Expected To Be Billed And Collected In Next Twelve Months
UnbilledReceivablesNotExpectedToBeBilledAndCollectedInNextTwelveMonths
1300000
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
81959000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
76712000
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
43569000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
41417000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
38390000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
35295000
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1400000
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1600000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2800000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
3300000
CY2021Q4 pdfs Write Down In Value Of Long Lived Asset Held For Use
WriteDownInValueOfLongLivedAssetHeldForUse
3200000
CY2022Q2 us-gaap Goodwill
Goodwill
14100000
CY2021Q4 us-gaap Goodwill
Goodwill
14100000
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
47288000
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
27783000
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
19505000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
47288000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
26049000
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
21239000
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
867000
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
849000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1734000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1698000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1734000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3444000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3046000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2882000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2712000
CY2022Q2 pdfs Finitelived Intangible Asset Expected Amortization After Year Four
FinitelivedIntangibleAssetExpectedAmortizationAfterYearFour
5687000
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
19505000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2022Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2022Q2 pdfs Number Of Finance Leases
NumberOfFinanceLeases
0
CY2021Q4 pdfs Number Of Finance Leases
NumberOfFinanceLeases
0
CY2022Q1 pdfs Operating Lease Right Of Use Asset Adjustment For Early Termination
OperatingLeaseRightOfUseAssetAdjustmentForEarlyTermination
500000
CY2022Q1 pdfs Operating Lease Liability Adjustment For Early Lease Termination
OperatingLeaseLiabilityAdjustmentForEarlyLeaseTermination
600000
pdfs Lease Termination Expense
LeaseTerminationExpense
-100000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
353000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
484000
us-gaap Operating Lease Cost
OperatingLeaseCost
698000
us-gaap Operating Lease Cost
OperatingLeaseCost
969000
CY2022Q2 pdfs Shortterm And Variable Lease Cost
ShorttermAndVariableLeaseCost
274000
CY2021Q2 pdfs Shortterm And Variable Lease Cost
ShorttermAndVariableLeaseCost
233000
pdfs Shortterm And Variable Lease Cost
ShorttermAndVariableLeaseCost
557000
pdfs Shortterm And Variable Lease Cost
ShorttermAndVariableLeaseCost
407000
CY2022Q2 us-gaap Lease Cost
LeaseCost
627000
CY2021Q2 us-gaap Lease Cost
LeaseCost
717000
us-gaap Lease Cost
LeaseCost
1255000
us-gaap Lease Cost
LeaseCost
1376000
pdfs Lease Termination Expense
LeaseTerminationExpense
-100000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y6M
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y8M12D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0496
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0525
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
798000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1488000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1366000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1258000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1154000
CY2022Q2 pdfs Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
1701000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7765000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
997000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
6768000
CY2022Q2 pdfs Operating Lease Liability Amount Related To Extension Of Lease Term
OperatingLeaseLiabilityAmountRelatedToExtensionOfLeaseTerm
1100000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1500000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3872000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2742000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9425000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6111000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
226000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.78
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
87000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
9.10
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
4000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
13.30
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
2000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
8.79
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
133000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.19
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y9M18D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
848000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
133000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
15.18
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y9M10D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
843000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
112000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
15.16
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y2M19D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
714000
CY2022Q2 us-gaap Share Price
SharePrice
21.51
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1500000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
1500000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2500000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000.0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.889
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.095
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
15200000
CY2022Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1900000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
14700000
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1900000
CY2022Q2 pdfs Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued In Long Term Liabilities
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccruedInLongTermLiabilities
2400000
CY2022Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
600000
CY2022Q2 pdfs Unrecognized Tax Benefits In Deferred Tax Assets
UnrecognizedTaxBenefitsInDeferredTaxAssets
13400000
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
51600000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
51600000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-1147000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-4484000
us-gaap Net Income Loss
NetIncomeLoss
-5297000
us-gaap Net Income Loss
NetIncomeLoss
-12081000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37028000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37004000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37316000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36989000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37028000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37004000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37316000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36989000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
774000
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1165000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
937000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1253000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q2 us-gaap Noncurrent Assets
NoncurrentAssets
43630000
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
40703000
CY2022Q2 pdfs Cash Cash Equivalents Short Term Investments Fair Value Disclosure
CashCashEquivalentsShortTermInvestmentsFairValueDisclosure
100927000
CY2021Q4 pdfs Cash Cash Equivalents Short Term Investments Fair Value Disclosure
CashCashEquivalentsShortTermInvestmentsFairValueDisclosure
125016000
pdfs Term Of Product Warranty
TermOfProductWarranty
P90D
CY2022Q2 us-gaap Purchase Obligation
PurchaseObligation
14000000.0
pdfs Threshold Payment Period Of Majority Of Purchase Obligation
ThresholdPaymentPeriodOfMajorityOfPurchaseObligation
P12M
CY2022Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0

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