Pdf Solutions Inc 8-K, filed Nov 5, 2026

Pdf Solutions Inc (PDFS)

8-K 2026-11-05 For: 2026-11-05

Added on November 06, 2026

About this 8-K

Pdf Solutions Inc filed this 8-K on November 5, 2026.

PDF Solutions reported record third-quarter revenue of $68.3 million, up 20% year over year. GAAP diluted EPS was $0.16, non-GAAP diluted EPS was $0.40, and ending backlog was $247.2 million. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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Delaware	25-1701361
(State or Other Jurisdiction of Incorporation)	(I.R.S. Employer Identification No.)

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.00015 par value	PDFS	The NASDAQ Stock Market LLC

Exhibit No.		Description
99.1		Press Release dated November 5, 2026, regarding financial results and certain other information related to the third quarter ended September 30, 2026.

99.2		Management Report by PDF Solutions, Inc. for the quarter ended September 30, 2026.

104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

	PDF SOLUTIONS, INC. (Registrant)

	By:	/s/ Adnan Raza
		Adnan Raza
		EVP, Finance, and Chief Financial Officer (principal financial and accounting officer)

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

	●	Record quarterly total revenues of $68.3 million, up 20% over last year’s comparable quarter
	●	GAAP gross margin of 73% and non-GAAP gross margin of 77%
	●	GAAP operating margin of 12% and non-GAAP operating margin of 28%
	●	GAAP diluted earnings per share (EPS) of $0.16 and non-GAAP diluted EPS of $0.40
	●	Ending backlog of $247.2 million

	September 30,			December 31,
	2026			2025
ASSETS
Current assets:
Cash and cash equivalents	$	107,131		$	42,220
Accounts receivable, net		96,869			82,938
Prepaid expenses and other current assets		53,185			38,735
Total current assets		257,185			163,893
Property and equipment, net		104,333			81,609
Operating lease right-of-use assets, net		7,439			4,778
Goodwill		94,990			95,005
Intangible assets, net		46,060			52,194
Deferred tax assets, net		541			69
Other non-current assets		30,408			21,149
Total assets	$	540,956		$	418,697

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	12,639		$	17,076
Accrued compensation and related benefits		20,154			22,437
Accrued and other current liabilities		8,275			8,719
Operating lease liabilities ‒ current portion		2,025			1,982
Deferred revenues ‒ current portion		32,776			19,441
Current portion of long-term debt, net		2,237			2,236
Total current liabilities		78,106			71,891
Long-term income taxes		5,331			4,273
Operating lease liabilities – non-current portion		6,278			3,838
Long-term debt, net		63,096			64,763
Other non-current liabilities		5,137			2,910
Total liabilities		157,948			147,675

Stockholders’ equity:
Common stock and additional paid-in capital		641,287			533,509
Treasury stock, at cost		(177,433	)		(165,808	)
Accumulated deficit		(78,725	)		(94,628	)
Accumulated other comprehensive loss		(2,121	)		(2,051	)
Total stockholders’ equity		383,008			271,022
Total liabilities and stockholders’ equity	$	540,956		$	418,697

	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,			September 30,
	2026			2026			2025			2026			2025

Revenues (1):
Platform	$	58,331		$	49,130		$	48,001		$	158,397		$	128,522
Volume-based		10,003			12,399			9,114			31,596			28,099
Total revenues		68,334			61,529			57,115			189,993			156,621

Costs and Expenses:
Costs of revenues		18,593			19,107			15,840			54,638			43,681
Research and development		19,446			17,316			15,435			55,090			44,976
Selling, general, and administrative		20,969			18,984			19,944			57,445			63,060
Amortization of acquired intangible assets		1,040			1,058			1,069			3,157			2,515
Income from operations		8,286			5,064			4,827			19,663			2,389
Interest expense		(1,123	)		(1,106	)		(1,238	)		(3,318	)		(2,791	)
Interest income and other, net		1,189			666			(102	)		2,447			964
Income before income tax expense		8,352			4,624			3,487			18,792			562
Income tax expense		(1,511	)		(353	)		(2,193	)		(2,889	)		(1,154	)
Net income (loss)	$	6,841		$	4,271		$	1,294		$	15,903		$	(592	)

Net income (loss) per share:
Basic	$	0.16		$	0.10		$	0.03		$	0.39		$	(0.02	)
Diluted	$	0.16		$	0.10		$	0.03		$	0.38		$	(0.02	)

Weighted average common shares used to calculate net income (loss) per share:
Basic		42,193			40,932			39,500			41,003			39,247
Diluted		42,976			41,776			39,619			41,718			39,247

Q3 2026 Key Metrics	FINANCIAL RESULTS SUMMARY

Total Revenues: $68.3M	■ Q3 2026 Total revenues of $68.3M was up 11% over Q2 2026, and up 20% over Q3 2025 ■ Q3 2026 Platform revenue of $58.3M was up 19% over Q2 2026, and up 22% over Q3 2025 ■ Q3 2026 Volume-based revenue of $10.0M was down 19% from Q2 2026, and up 10% over Q3 2025 ■ Q3 2026 Recurring revenue was 88%, Q2 2026 was 80%, and Q3 2025 was 95% ■ Q3 2026 Upfront revenue was 12%, Q2 2026 was 20%, and Q3 2025 was 5%

GAAP Gross Margin: 73%

Non-GAAP Gross Margin: 77%

GAAP Operating Margin: 12%

Non-GAAP Operating Margin: 28%

GAAP Diluted EPS: $0.16

Non-GAAP Diluted EPS: $0.40

Operating Cash Flow: $13.8M

Cash Used for Capital Expenditures: $15.1M

	Q3’26		Q2’26		Q1’26		Q4’25		Q3’25
Revenues	$68,334		$61,529		$60,130		$62,403		$57,115
GAAP Gross Margin	73	%	69	%	72	%	73	%	72	%
Non-GAAP Gross Margin	77	%	73	%	76	%	77	%	76	%
GAAP Operating Margin	12	%	8	%	10	%	6	%	8	%
Non-GAAP Operating Margin	28	%	22	%	25	%	24	%	23	%
Outstanding Debt Principal	$66,250		$67,500		$67,500		$68,125		$68,750
Operating Cash Flow	$13,759		$16,401		$1,674		$17,341		$3,287
Cash Used for Capital Expenditures (CAPEX)	$15,071		$14,082		$10,500		$9,791		$6,325
$ Shares Repurchased	$—		$—		$—		$—		$244
Weighted Average Common Shares Outstanding	42.2		40.9		39.9		39.5		39.5
Effective Tax Rate	18	%	8	%	18	%	102	%	63	%

	Nine Months Ended September 30,
	2026		2025		2024
Revenues	$189,993		$156,621		$129,380
GAAP Gross Margin	71	%	72	%	70	%
Non-GAAP Gross Margin	75	%	76	%	75	%
GAAP Operating Margin	10	%	2	%	<1%
Non-GAAP Operating Margin	25	%	20	%	17	%
Outstanding Debt Principal	$66,250		$68,750		$—
Operating Cash Flow	$31,834		$6,712		$8,097
Cash Used for CAPEX	$39,653		$23,054		$11,938
$ Shares Repurchased	$—		$244		$6,899
Weighted Average Common Shares Outstanding	41.0		39.2		38.5
Effective Tax Rate	15	%	205	%	31	%

	Q3’26		Q2’26		Q1’26		Q4’25		Q3’25
United States	$22,702		$34,036		$24,507		$36,439		$30,143
% of Total	33	%	55	%	41	%	58	%	53	%
Japan	$21,655		$6,563		$8,679		$8,156		$10,091
% of Total	32	%	11	%	14	%	13	%	18	%
China	$11,068		$8,723		$8,514		$7,866		$5,842
% of Total	16	%	14	%	14	%	12	%	10	%
Rest of the world	$12,909		$12,207		$18,430		$9,942		$11,039
% of Total	19	%	20	%	31	%	17	%	19	%
Total revenues	$68,334		$61,529		$60,130		$62,403		$57,115

	Nine Months Ended September 30,
	2026		2025		2024
United States	$81,245		$68,325		$58,021
% of Total	43	%	43	%	45	%
Japan	$36,897		$31,131		$25,495
% of Total	19	%	20	%	20	%
China	$28,305		$26,075		$17,526
% of Total	15	%	17	%	14	%
Rest of the world	$43,546		$31,090		$28,338
% of Total	23	%	20	%	21	%
Total revenues	$189,993		$156,621		$129,380

	Q3’26			Q2’26			Q1’26			Q4’25			Q3’25
GAAP
Total revenues	$	68,334		$	61,529		$	60,130		$	62,403		$	57,115
Costs of revenues		18,593			19,107			16,938			16,942			15,840
GAAP gross profit	$	49,741		$	42,422		$	43,192		$	45,461		$	41,275
GAAP gross margin		73	%		69	%		72	%		73	%		72	%

Non-GAAP
GAAP gross profit	$	49,741		$	42,422		$	43,192		$	45,461		$	41,275
Adjustments to reconcile GAAP to non-GAAP gross profit:
Stock-based compensation expense		1,593			1,258			1,279			1,379			1,274
Amortization of acquired technology under costs of revenues		958			998			998			998			998
Non-GAAP gross profit	$	52,292		$	44,678		$	45,469		$	47,838		$	43,547
Non-GAAP gross margin		77	%		73	%		76	%		77	%		76	%