PDF Solutions ( (PDFS) ) has released its Q3 earnings. Here is a breakdown of the information PDF Solutions presented to its investors.
PDF Solutions, Inc., a prominent player in the semiconductor and electronics industry, specializes in comprehensive data solutions aimed at enhancing product yield, quality, and operational efficiency. The company has released its financial results for the third quarter of 2024, showcasing notable progress.
In the third quarter of 2024, PDF Solutions achieved record quarterly revenues of $46.4 million, representing a 10% increase from the same period last year. The analytics revenue reached $44.8 million, marking a 13% growth year-over-year. The company reported a significant improvement in its GAAP gross margin, which stood at 73%, and a non-GAAP gross margin of 77%. The GAAP diluted earnings per share were $0.06, while the non-GAAP diluted EPS was $0.25.
The financial performance of PDF Solutions in the third quarter of 2024 reflects a positive trajectory, with total revenues of $46.4 million, up from $41.7 million in the previous quarter. The company also reported a backlog of $239.2 million as of the end of September. The net income on a GAAP basis was $2.2 million, compared to a net loss in the third quarter of 2023, while non-GAAP net income reached $9.9 million.
Looking ahead, the management of PDF Solutions remains optimistic, with expectations for continued revenue growth in line with their long-term target of 20%. This positive outlook is supported by strong bookings and performance in the first three quarters of the year, setting a robust foundation for future growth.
