New Risk • May 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Large one-off items impacting financial results. Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Chi-Foon Chan was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 10
PDF Solutions, Inc. Reaffirms Earnings Guidance for the Year 2026 PDF Solutions, Inc. reaffirmed earnings guidance for the year 2026. For the year, the company expects 20% annual revenue growth prior guidance for this year. Announcement • May 04
PDF Solutions, Inc., Annual General Meeting, Jun 16, 2026 PDF Solutions, Inc., Annual General Meeting, Jun 16, 2026. Location: corporate headquarters, 2858 de la cruz boulevard, california 95050, santa clara United States Announcement • Apr 21
PDF Solutions, Inc. to Report Q1, 2026 Results on May 07, 2026 PDF Solutions, Inc. announced that they will report Q1, 2026 results After-Market on May 07, 2026 Announcement • Feb 13
PDF Solutions, Inc. Provides Earnings Guidance for the Year 2026 PDF Solutions, Inc. provided earnings guidance for the year 2026. For the year, the company expects revenues to grow consistent with 20% long-term revenue growth target. Announcement • Jan 27
PDF Solutions, Inc. to Report Q4, 2025 Results on Feb 12, 2026 PDF Solutions, Inc. announced that they will report Q4, 2025 results After-Market on Feb 12, 2026 Announcement • Nov 07
PDF Solutions, Inc. Reaffirms Earnings Guidance for the Year 2025 PDF Solutions, Inc. reaffirmed earnings guidance for the year 2025. For the year, the company expects 21-23% annual revenue growth prior guidance range. Announcement • Oct 21
PDF Solutions, Inc. to Report Q3, 2025 Results on Nov 06, 2025 PDF Solutions, Inc. announced that they will report Q3, 2025 results After-Market on Nov 06, 2025 Announcement • Oct 02
PDF Solutions, Inc. Announces Next Generation of Its Exensio®? Ai/Ml Solution PDF Solutions, Inc. announced the upcoming release of the next generation of its Exensio AI/ML (i.e. ModelOps) solution: Exensio Studio AI. For nearly 20 years PDF Solutions has provided leading data solutions for semiconductor manufacturing. Over the years, the scope of the PDF Solutions Platform has evolved in response to the growing reliance on big data analytics to deliver operational efficiency and to include the latest developments in IT technology. Now, added to that Platform is the new Exensio Studio AI that combines Exensio analytics and Tiber™? AI Studio (formerly cnvrg.io), which PDF Solutions is licensing from Intel Corporation. Across the semiconductor industry, Exensio software is the leading commercial, comprehensive solution for data analytics for mission critical use cases. Exensio Studio AI will integrate with the Exensio manufacturing data infrastructure and is designed to leverage the PDF Solutions' semantic model to clean, normalize, and align FDC, characterization, test, assembly, and supply chain data. Intel Corporation already uses Tiber AI Studio to build, deploy, and manage AI models across its manufacturing operations, and now plans to deploy Exensio Studio AI to benefit from the single, big-data repository for all manufacturing data that Exensio provides. New Licenses and Support for Existing Users: PDF Solutions will also continue the distribution and support of Tiber AI Studio as a stand-alone product available from PDF Solutions under the name Exensio Workbench for AI. PDF Solutions is open to offer commercial technical support, including a migration roadmap, for continued use by, and support of prior customers of Intel's Tiber AI Studio. Announcement • Sep 23
PDF Solutions, Inc. Reaffirms Earnings Guidance for the Year 2025 PDF Solutions, Inc. reaffirmed earnings guidance for the year 2025. For the year, the company reaffirms its full-year 2025 revenue growth guidance of 21% to 23% compared to 2024. Announcement • Aug 08
Pdf Solutions, Inc. Reaffirms Earnings Guidance for the Year 2025 PDF Solutions, Inc. reaffirms earnings guidance for the year 2025. For the year, the company reaffirms 21-23% annual revenue growth prior guidance range for this year. Announcement • Jul 18
PDF Solutions, Inc. to Report Q2, 2025 Results on Aug 07, 2025 PDF Solutions, Inc. announced that they will report Q2, 2025 results at 4:00 PM, Eastern Standard Time on Aug 07, 2025 Announcement • May 09
PDF Solutions, Inc. Reaffirms Earnings Guidance for the Year 2025 PDF Solutions, Inc. reaffirmed earnings guidance for the year 2025. For the period, company reaffirm 21% - 23% annual revenue growth prior guidance range for this year. Announcement • Apr 30
PDF Solutions, Inc., Annual General Meeting, Jun 17, 2025 PDF Solutions, Inc., Annual General Meeting, Jun 17, 2025. Location: 2858 de la cruz boulevard, california 95050, santa clara United States Announcement • Apr 22
PDF Solutions, Inc. to Report Q1, 2025 Results on May 08, 2025 PDF Solutions, Inc. announced that they will report Q1, 2025 results After-Market on May 08, 2025 Announcement • Mar 08
PDF Solutions, Inc. (NasdaqGS:PDFS) completed the acquisition of secureWISE, LLC from Telit IOT Solutions Inc. PDF Solutions, Inc. (NasdaqGS:PDFS) entered into a definitive agreement to acquire secureWISE, LLC from Telit IOT Solutions Inc. for $130 million on February 19, 2025. The purchase price is subject to customary purchase price adjustments. The consideration will be funded by a combination of cash on hand and $70 million of new bank debt. A termination fee of $6.5 million is to be paid by PDF. The acquisition was approved by PDF board and is subject to certain closing conditions and is expected to close in the first calendar quarter of 2025.
TD Securities (USA) LLC acted as financial advisor, Chad Rolston, Bret Stancil and Robert McGuire of Latham & Watkins LLP acted as legal advisor to PDF Solutions. Sylvain Dhennin of Hogan Lovells acted as legal advisor to Telit IOT Solutions. Houlihan Lokey, Inc. (NYSE:HLI) acted as financial advisor to secureWISE and Telit IOT Solutions.
PDF Solutions, Inc. (NasdaqGS:PDFS) completed the acquisition of secureWISE, LLC from Telit IOT Solutions Inc. on March 7, 2025. Announcement • Feb 21
PDF Solutions, Inc. (NasdaqGS:PDFS) entered into a definitive agreement to acquire secureWISE, LLC from Telit IOT Solutions Inc. for $130 million. PDF Solutions, Inc. (NasdaqGS:PDFS) entered into a definitive agreement to acquire secureWISE, LLC from Telit IOT Solutions Inc. for $130 million on February 19, 2025. The purchase price is subject to customary purchase price adjustments. The consideration will be funded by a combination of cash on hand and $70 million of new bank debt. The acquisition is subject to certain closing conditions and is expected to close in the first calendar quarter of 2025. TD Securities (USA) LLC acted as financial advisor and Latham & Watkins LLP acted as legal advisor to PDF Solutions. Announcement • Feb 14
PDF Solutions, Inc. Provides Revenue Guidance for the Year 2025 PDF Solutions, Inc. provided revenue guidance for the year 2025. In 2025, the company expects full year revenues to grow at a rate approaching 15% year over year. Announcement • Jan 28
PDF Solutions, Inc. to Report Q4, 2024 Results on Feb 13, 2025 PDF Solutions, Inc. announced that they will report Q4, 2024 results After-Market on Feb 13, 2025 Buy Or Sell Opportunity • Nov 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.1% to €27.80. The fair value is estimated to be €35.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 50% in 2 years. Earnings are forecast to grow by 565% in the next 2 years. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: US$0.057 (vs US$0.13 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0.057 (up from US$0.13 loss in 3Q 2023). Revenue: US$46.4m (up 9.6% from 3Q 2023). Net income: US$2.21m (up US$7.18m from 3Q 2023). Profit margin: 4.8% (up from net loss in 3Q 2023). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Oct 17
PDF Solutions, Inc. to Report Q3, 2024 Results on Nov 07, 2024 PDF Solutions, Inc. announced that they will report Q3, 2024 results After-Market on Nov 07, 2024 Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: US$0.044 (vs US$0.18 in 2Q 2023) Second quarter 2024 results: EPS: US$0.044 (down from US$0.18 in 2Q 2023). Revenue: US$41.7m (flat on 2Q 2023). Net income: US$1.71m (down 75% from 2Q 2023). Profit margin: 4.1% (down from 16% in 2Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Aug 09
PDF Solutions, Inc. Reiterates Revenue Guidance for the Second Half of 2024 PDF Solutions, Inc. reiterated revenue guidance for the second half of 2024. For the period, the company expected revenue for the second half of the year will grow by 20% over the comparable period of the prior year. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Significant insider selling over the past 3 months (€1.0m sold). Buy Or Sell Opportunity • Jul 24
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to €34.40. The fair value is estimated to be €27.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 16% in a year. Earnings are forecast to grow by 442% in the next year. Announcement • Jul 19
PDF Solutions, Inc. to Report Q2, 2024 Results on Aug 08, 2024 PDF Solutions, Inc. announced that they will report Q2, 2024 results After-Market on Aug 08, 2024 Buy Or Sell Opportunity • Jul 09
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to €33.80. The fair value is estimated to be €27.78, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 16% in a year. Earnings are forecast to grow by 442% in the next year. Buy Or Sell Opportunity • Jul 01
Now 19% overvalued after recent price rise Over the last 90 days, the stock has risen 9.9% to €33.20. The fair value is estimated to be €27.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 16% in a year. Earnings are forecast to grow by 442% in the next year. Buy Or Sell Opportunity • Jun 19
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 6.0% to €32.00. The fair value is estimated to be €25.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 16% in a year. Earnings are forecast to grow by 442% in the next year. Buy Or Sell Opportunity • Jun 13
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 7.1% to €33.00. The fair value is estimated to be €26.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 16% in a year. Earnings are forecast to grow by 442% in the next year. Recent Insider Transactions • Jun 09
Independent Director recently sold €175k worth of stock On the 3rd of June, Shuo Zhang sold around 6k shares on-market at roughly €31.84 per share. This transaction amounted to 41% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €857k. Insiders have been net sellers, collectively disposing of €2.2m more than they bought in the last 12 months. Recent Insider Transactions • May 20
Executive VP of Finance & CFO recently sold €857k worth of stock On the 17th of May, Adnan Raza sold around 27k shares on-market at roughly €31.18 per share. This transaction amounted to 97% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Adnan's only on-market trade for the last 12 months. Reported Earnings • May 11
First quarter 2024 earnings released: US$0.01 loss per share (vs US$0.009 profit in 1Q 2023) First quarter 2024 results: US$0.01 loss per share (down from US$0.009 profit in 1Q 2023). Revenue: US$41.3m (up 1.4% from 1Q 2023). Net loss: US$393.0k (down 211% from profit in 1Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Announcement • May 01
PDF Solutions, Inc., Annual General Meeting, Jun 18, 2024 PDF Solutions, Inc., Annual General Meeting, Jun 18, 2024, at 10:00 Pacific Daylight. Location: the Company’s corporate headquarters, located at 2858 De La Cruz Boulevard, Santa Clara, California 95050 United States Agenda: To discuss the election of three Class II members of the Board of Directors to hold office until the first annual meeting of stockholders that is held after December 31, 2026, or until such director’s respective successor is duly elected and qualified; to discuss the ratification of the appointment of BPM LLP as independent registered public accounting firm for the fiscal year ending December 31, 2024; to the approval of an amendment to amended and restated certificate of incorporation to include an officer exculpation provision; to approval of Ninth Amended and Restated 2011 Stock Incentive Plan; to approval of First Amended and Restated 2021 Employee Stock Purchase Plan; to approval, by a non-binding advisory vote, of the compensation of named executive officers disclosed in this Proxy Statement; and to discuss other matters. Announcement • Apr 20
PDF Solutions, Inc. to Report Q1, 2024 Results on May 09, 2024 PDF Solutions, Inc. announced that they will report Q1, 2024 results After-Market on May 09, 2024 Buy Or Sell Opportunity • Mar 09
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to €32.20. The fair value is estimated to be €26.43, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 630% in the next 2 years. Recent Insider Transactions • Feb 25
Lead Independent Director recently sold €480k worth of stock On the 21st of February, Joseph Bronson sold around 15k shares on-market at roughly €32.03 per share. This transaction amounted to 39% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.9m more than they bought in the last 12 months. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: US$0.082 (vs US$0.092 loss in FY 2022) Full year 2023 results: EPS: US$0.082 (up from US$0.092 loss in FY 2022). Revenue: US$165.8m (up 12% from FY 2022). Net income: US$3.11m (up US$6.53m from FY 2022). Profit margin: 1.9% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Feb 16
Pdf Solutions, Inc. Announces Revenue Guidance for First Half of 2024 PDF Solutions, Inc. announced revenue guidance for first half of 2024. For the period, management expects revenue for the first half of 2024 to be flat over the comparable period of the prior year and for revenue for the second half of the year to grow by 20% over the comparable period of the prior year. Announcement • Jan 23
PDF Solutions, Inc. to Report Q4, 2023 Results on Feb 15, 2024 PDF Solutions, Inc. announced that they will report Q4, 2023 results After-Market on Feb 15, 2024 Buying Opportunity • Jan 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.9%. The fair value is estimated to be €33.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings is also forecast to grow by 62% per annum over the same time period. Announcement • Dec 19
PDF Solutions, Inc. Appoints Chi-Foon Chan to the Board as a Class II Director On December 14, 2023, the Board of Directors of PDF Solutions, Inc. appointed Chi-Foon Chan to the Board as a Class II Director effective immediately to serve until the first Annual Meeting of Stockholders held after December 31, 2023. Dr. Chan has been appointed to the Nominating and Corporate Governance committee of the Board. In connection with his appointment, and pursuant to the Company’s 2024 Director Compensation Program for Non-Employee Directors adopted by the Board on December 14, 2023, Dr. Chan will receive an annual cash retainer of $40,000 and an additional $4,000 cash retainer for serving as a member of the Nominating and Corporate Governance committee, and a restricted stock unit award valued at $300,000. The restricted stock unit award will vest with respect to 1/4th of the total shares subject to such award on the grant effective date and 1/4th of the total shares subject to such award every anniversary of the grant effective date thereafter until fully vested. Dr. Chan currently serves as a member of the Board of Advisors at Intel Corporation since 2022. He was President, Co-Chief Executive Officer, and a member of the Board of Directors of Synopsys, Inc. from 2012 to 2022 and President, Chief Operating Officer, and a member of the Board of Directors of Synopsys, Inc. from 1998 to 2012. Prior to that he was a Senior Engineering Manager at Intel Corporation and General Manager-Microprocessor Division at NEC Electronics Corporation. He received a Bachelor and a Master of Science in Electrical Engineering from Rutgers State University and a Ph.D. in Computer Engineering from Case Western Reserve University. There are no arrangements or understandings between Dr. Chan and any other persons pursuant to which Dr. Chan was appointed as Director. He does not have any family relationship with any of the Company’s directors or executive officers or any persons nominated or chosen by the Company to be a director or executive officer. Recent Insider Transactions • Dec 15
Independent Director recently sold €165k worth of stock On the 13th of December, Michael Gustafson sold around 6k shares on-market at roughly €28.66 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.8m more than they bought in the last 12 months. Reported Earnings • Nov 09
Third quarter 2023 earnings released: US$0.13 loss per share (vs US$0.037 profit in 3Q 2022) Third quarter 2023 results: US$0.13 loss per share (down from US$0.037 profit in 3Q 2022). Revenue: US$42.4m (up 6.2% from 3Q 2022). Net loss: US$4.97m (down 459% from profit in 3Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Oct 25
PDF Solutions, Inc. Reaffirms Revenue Guidance for the Year 2023 PDF Solutions, Inc. reaffirmed revenue guidance for the year 2023. For the year, the company confirmed that it continues to expect its revenue growth rate will be in the lower double digits on a year-over-year percentage basis. Announcement • Oct 21
PDF Solutions, Inc. to Report Q3, 2023 Results on Nov 08, 2023 PDF Solutions, Inc. announced that they will report Q3, 2023 results After-Market on Nov 08, 2023 Announcement • Sep 06
PDF Solutions, Inc. Launches a Freemium Entry Point for its Exensio(R) Analytics Platform PDF Solutions, Inc. announced the launch of a freemium entry point for its Exensio Analytics Platform, providing users a new way to start using and experience the market- leading analytics platform. At this entry point, users can access and use limited, off-line features of the Exensio(R) Analytics Platform for insights into their yield and test operations through a thin client architecture. This will give them access to a subset of offline data anytime, anywhere. It provides highly-interactive tools designed to quickly identify and characterize yield and test problems, drill down into their root causes, and templates to create rules for outlier detection and escape prevention. Built on a big data structure, the Exensio Analytics Platform is designed to power fast, high-volume, scalable storage and analysis, and automate data wrangle, integration, and alignment. New users -- or existing customers -- can utilize the freemium option to try new applications before they buy. The freemium-level Exensio Analytics Platform includes the following functionality: ExensiM Manufacturing Analytics is designed to provide efficient yield monitoring and powerful tools for root cause analysis and automation and reporting for new product introduction and production yield management. Exensio Test Operations Lite is designed to monitor and optimize test programs, equipment, and outlier detection for test operations analytics and optimization. Exensio Automation and Reporting is designed to provide out-of-the-box reporting templates for management level reporting. Announcement • Aug 11
PDF Solutions, Inc. Provides Revenue Guidance for the Year 2023 PDF Solutions, Inc. provided revenue guidance for the year 2023. The company expects 2023 revenue growth rate to be lower double digit percent on a year-over-year basis. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: US$0.18 (vs US$0.031 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.18 (up from US$0.031 loss in 2Q 2022). Revenue: US$41.6m (up 20% from 2Q 2022). Net income: US$6.84m (up US$7.98m from 2Q 2022). Profit margin: 16% (up from net loss in 2Q 2022). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Announcement • Jul 21
PDF Solutions, Inc. to Report Q2, 2023 Results on Aug 08, 2023 PDF Solutions, Inc. announced that they will report Q2, 2023 results After-Market on Aug 08, 2023 Announcement • Jul 12
PDF Solutions, Inc. (NasdaqGS:PDFS) acquired Lantern Machinery Analytics, Inc. PDF Solutions, Inc. (NasdaqGS:PDFS) acquired Lantern Machinery Analytics, Inc. on July 10, 2023.
PDF Solutions, Inc. (NasdaqGS:PDFS) completed the acquisition of Lantern Machinery Analytics, Inc. on July 10, 2023. Announcement • May 11
Pdf Solutions, Inc. Provides Revenue Guidance for the Year 2023 PDF Solutions, Inc. provided revenue guidance for the year 2023. In spite of macroenvironment headwinds and a high revenue base from the strong performance in 2022, company expect 2023 revenue growth rate to approach mid-teens percent on a year-over-year basis. Reported Earnings • May 10
First quarter 2023 earnings released: EPS: US$0.009 (vs US$0.11 loss in 1Q 2022) First quarter 2023 results: EPS: US$0.009 (up from US$0.11 loss in 1Q 2022). Revenue: US$40.8m (up 22% from 1Q 2022). Net income: US$355.0k (up US$4.51m from 1Q 2022). Profit margin: 0.9% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Mar 08
Independent Director recently sold €467k worth of stock On the 28th of February, Michael Gustafson sold around 13k shares on-market at roughly €35.10 per share. This transaction amounted to 56% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.2m more than they bought in the last 12 months. Recent Insider Transactions • Feb 28
Lead Independent Director recently sold €429k worth of stock On the 22nd of February, Joseph Bronson sold around 13k shares on-market at roughly €34.30 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €599k. Insiders have been net sellers, collectively disposing of €2.7m more than they bought in the last 12 months. Reported Earnings • Feb 18
Full year 2022 earnings released: US$0.092 loss per share (vs US$0.58 loss in FY 2021) Full year 2022 results: US$0.092 loss per share (improved from US$0.58 loss in FY 2021). Revenue: US$148.5m (up 34% from FY 2021). Net loss: US$3.43m (loss narrowed 84% from FY 2021). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Announcement • Feb 17
PDF Solutions, Inc. Provides Revenue Guidance for the Year 2023 PDF Solutions, Inc. provided revenue guidance for the year 2023. In spite of macroenvironment headwinds and a high revenue base from the strong performance in 2022, the company expects 2023 revenue growth rate to approach mid-teens percent on a year-over-year basis, benefiting from strong backlog. Announcement • Jan 27
PDF Solutions, Inc. to Report Q4, 2022 Results on Feb 16, 2023 PDF Solutions, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 16, 2023 Buying Opportunity • Jan 13
Now 21% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be €34.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 24%. Recent Insider Transactions • Nov 30
Executive VP of Finance & CFO recently sold €357k worth of stock On the 29th of November, Adnan Raza sold around 12k shares on-market at roughly €29.22 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Adnan has been a net seller over the last 12 months, reducing personal holdings by €1.2m. Recent Insider Transactions • Nov 19
Independent Director recently sold €144k worth of stock On the 16th of November, Michael Gustafson sold around 5k shares on-market at roughly €28.76 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.3m more than they bought in the last 12 months. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Jane Li was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: US$0.037 (vs US$0.065 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.037 (up from US$0.065 loss in 3Q 2021). Revenue: US$39.9m (up 35% from 3Q 2021). Net income: US$1.39m (up US$3.79m from 3Q 2021). Profit margin: 3.5% (up from net loss in 3Q 2021). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Oct 21
PDF Solutions, Inc. to Report Q3, 2022 Results on Nov 10, 2022 PDF Solutions, Inc. announced that they will report Q3, 2022 results After-Market on Nov 10, 2022 Reported Earnings • Aug 13
Second quarter 2022 earnings released: US$0.031 loss per share (vs US$0.12 loss in 2Q 2021) Second quarter 2022 results: US$0.031 loss per share (up from US$0.12 loss in 2Q 2021). Revenue: US$34.7m (up 26% from 2Q 2021). Net loss: US$1.15m (loss narrowed 74% from 2Q 2021). Over the next year, revenue is forecast to grow 19%, compared to a 12% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Announcement • Aug 12
PDF Solutions, Inc. Provides Revenue Guidance for the Full Year 2022 PDF Solutions, Inc. provided revenue guidance for the full year 2022. for the year, the company expects total revenues to grow approximately 25% on a year-over-year basis. Board Change • Aug 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Jane Li was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 29
PDF Solutions, Inc. to Report Q2, 2022 Results on Aug 11, 2022 PDF Solutions, Inc. announced that they will report Q2, 2022 results After-Market on Aug 11, 2022 Recent Insider Transactions • Jun 15
Executive VP of Finance & CFO recently sold €129k worth of stock On the 13th of June, Adnan Raza sold around 6k shares on-market at roughly €20.98 per share. This was the largest sale by an insider in the last 3 months. This was Adnan's only on-market trade for the last 12 months. Reported Earnings • May 14
First quarter 2022 earnings released: US$0.11 loss per share (vs US$0.20 loss in 1Q 2021) First quarter 2022 results: US$0.11 loss per share (up from US$0.20 loss in 1Q 2021). Revenue: US$33.5m (up 38% from 1Q 2021). Net loss: US$4.15m (loss narrowed 45% from 1Q 2021). Over the next year, revenue is forecast to grow 19%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • May 13
PDF Solutions, Inc. Provides Revenue Guidance for the Full Year 2022 PDF Solutions, Inc. provided revenue guidance for the full year 2022. The company expects full year 2022 total revenues to grow between 20% to 25% on a year-over-year basis. Recent Insider Transactions • Mar 24
Independent Director recently sold €257k worth of stock On the 15th of March, Shuo Zhang sold around 11k shares on-market at roughly €23.29 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €343k more than they bought in the last 12 months. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: US$0.58 loss per share (up from US$1.17 loss in FY 2020). Revenue: US$111.1m (up 26% from FY 2020). Net loss: US$21.5m (loss narrowed 47% from FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 19%, compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Announcement • Feb 16
PDF Solutions, Inc. Provides Revenue Guidance for the Full Year 2022 PDF Solutions, Inc. provides revenue guidance for the full year 2022. For the full year 2022, the company expects total revenues to grow greater than 20% on a year-over-year basis. Announcement • Feb 02
PDF Solutions, Inc. to Report Q4, 2021 Results on Feb 15, 2022 PDF Solutions, Inc. announced that they will report Q4, 2021 results After-Market on Feb 15, 2022 Recent Insider Transactions • Nov 20
Independent Director recently sold €86k worth of stock On the 12th of November, Michael Gustafson sold around 3k shares on-market at roughly €28.82 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Nov 10
Third quarter 2021 earnings released: US$0.065 loss per share (vs US$0.077 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$29.6m (up 28% from 3Q 2020). Net loss: US$2.41m (loss narrowed 12% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. Breakeven Date Change • Nov 09
Forecast to breakeven in 2023 The 4 analysts covering PDF Solutions expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$12.1m in 2023. Average annual earnings growth of 100% is required to achieve expected profit on schedule. Announcement • Sep 17
New Solution for Dynamic Parametric Test Is First Integrated Product from Advantest and PDF Solutions Partnership Advantest Corporation and PDF Solutions Inc. have launched their first jointly developed offering since forming a partnership in July 2020. The new Advantest Cloud Solutions (ACS) Dynamic Parametric Test (DPT) powered by PDF Exensio® solution is already being used in production by a large integrated device manufacturer. ACS is a highly secure single scalable data platform enabling an open solution ecosystem that helps customers address the most pressing challenges of the Smart Manufacturing era. This new solution integrates PDF Solutions’ Exensio® portfolio of data analytics with Advantest’s V93000 Parametric Test System. The ACS DPT solution is designed to optimize parametric testing on the V93000 test platform with real-time performance and minimal human interaction. Test flows within ACS DPT are designed to be adjusted dynamically to improve test coverage, enhance the characterization of aberrant measurements, and more efficiently collect additional data to support root-cause identification and downstream analytics. ACS DPT is designed to streamline this flow by allowing users to fully determine a wafer’s condition during initial testing. Collected data can be analyzed nearly instantaneously, allowing the test process to be fine-tuned in real time. The improved approach achieved with ACS helps eliminate the need for re-testing while also conserving product engineers’ valuable time and talents. Reported Earnings • Aug 11
Second quarter 2021 earnings released: US$0.12 loss per share (vs US$0.11 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: US$27.4m (up 28% from 2Q 2020). Net loss: US$4.48m (loss widened 23% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Executive Departure • Jun 16
Independent Director Gerald Yin has left the company On the 15th of June, Gerald Yin's tenure as Independent Director ended after 3.0 years in the role. We don't have any record of a personal shareholding under Gerald's name. Gerald is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 22.00 years. Breakeven Date Change • Jun 03
Forecast to breakeven in 2023 The 4 analysts covering PDF Solutions expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 66% per year to 2022. The company is expected to make a profit of US$8.21m in 2023. Average annual earnings growth of 67% is required to achieve expected profit on schedule. Reported Earnings • May 08
First quarter 2021 earnings released: US$0.20 loss per share (vs US$0.016 loss in 1Q 2020) The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: US$24.2m (up 14% from 1Q 2020). Net loss: US$7.60m (loss widened US$7.07m from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue misses expectations Revenue missed analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 20%, compared to a 17% growth forecast for the Semiconductor industry in Germany.