PDF SOLUTIONS (PDFS) Company Report

PDF Solutions reported record total revenues of $219.0 million for the full year 2025, a 22% year-over-year increase, and $62.4 million for Q4 2025, a 25% year-over-year increase. The company achieved a full-year gross margin of 76% and an operating margin of 21%, exceeding its prior long-term targets.
For 2026, PDF Solutions anticipates total revenue growth consistent with its 20% target model. The company also expects to nearly double the number of eProbe machines in the field during 2026.
In 2025, PDF Solutions completed its largest acquisition ever of secureWISE and licensed Tiber AI Studio, now known as Exensio Studio AI, from Intel. The company also signed multiple contracts for its Sapience Manufacturing Hub and a large eight-figure contract for Exensio Enterprise.
The company ended 2025 with a backlog of $254 million , generated $24 million in operating cash flow, and reported $0.94 per share in EPS for the full year.

Feb 12, 2026, 10:00 PM

Transcript

PDF Solutions Reports Record Q4 and Full Year 2025 Results, Provides 2026 Revenue Guidance

PDFS

Earnings

Guidance Update

M&A

PDF Solutions reported record total revenues of $62.4 million in Q4 2025, a 25% year-over-year increase, and $219.0 million for the full year 2025, representing 22% growth.
For the full year 2025, the company achieved a gross margin of 76% and an operating margin of 21%, exceeding prior long-term targets, with EPS of $0.94.
The company ended 2025 with a backlog of $254 million and anticipates 2026 revenues to grow consistent with its 20% long-term target.
Strategic achievements in 2025 included the acquisition of secureWISE, licensing of Tiber AI Studio (now Exensio Studio AI), deployment of Sapiens Manufacturing Hub, and shipping four DirectScan systems.

Feb 12, 2026, 10:00 PM

Transcript

PDF Solutions Reports Record Q4 and Full-Year 2025 Results, Provides 2026 Outlook

PDFS

Earnings

Guidance Update

M&A

PDF Solutions reported strong financial results for Q4 and full-year 2025, with total revenues of $62.4 million in Q4 (up 25% year-over-year) and $219.0 million for the full year (up 22% year-over-year).
The company achieved full-year 2025 EPS of $0.94 per share, a 12% increase year-over-year, and exceeded its prior long-term margin targets with a 76% gross margin and 21% operating margin for the full year.
Strategic achievements in 2025 included the acquisition of secureWISE for approximately $130 million, signing multiple contracts for its Sapiens Manufacturing Hub, and enhancing its Exensio analytics platform with AI operations capabilities and scalable analytics.
PDF Solutions ended 2025 with a backlog of $254 million and expects 2026 revenues to grow consistent with its 20% long-term target model.
The company reported $42 million in cash and equivalents and $68 million in debt at the end of 2025, while generating $24 million in operating cash flow for the year.

Feb 12, 2026, 10:00 PM

Transcript

PDF Solutions Reports Record Q4 and Full Year 2025 Financial Results

PDFS

Earnings

Revenue Acceleration/Inflection

M&A

PDF Solutions, Inc. reported record total revenues of $62.4 million for the fourth quarter of 2025, a 25% increase over the prior year's comparable quarter, and $219.0 million for the full year 2025, up 22% from 2024.
For Q4 2025, the company reported a GAAP diluted loss per share of $(0.00) and non-GAAP diluted earnings per share of $0.30. For the full year 2025, GAAP diluted loss per share was $(0.02) and non-GAAP diluted earnings per share was $0.94.
The company ended 2025 with an ending backlog of $254 million and anticipates 2026 revenues to grow consistent with its 20% long-term revenue growth target.
Operating cash flow for Q4 2025 was $17.3 million and for the full year 2025 was $24.1 million.
In 2025, PDF Solutions completed the acquisition of SecureWise LLC, a widely-used, secure, remote connectivity solution.

Feb 12, 2026, 9:26 PM

8-K

PDF Solutions Outlines Strong Market Growth and Ambitious Financial Targets

PDFS

Revenue Acceleration/Inflection

Guidance Update

New Projects/Investments

The semiconductor market is projected to reach ~$1.1 trillion by 2030, with AI representing ~67% of this market and growing 3x faster than the overall semi market. Governments are expected to deploy over $1.5 trillion in the semi ecosystem through 2030.
PDF Solutions' addressable market is expected to grow from ~$2.6 billion in 2023 to over $5.3 billion in 2030. The company reported $179 million in revenue for FY2024 and $207 million for TTM Q3 2025, with analytics revenue comprising 94% of total revenue in TTM Q3 2025.
For YTD Q3 2025, PDF Solutions achieved 76% Non-GAAP Gross Margin and 20% Non-GAAP Operating Margin. The company has set new long-term financial targets, including 20% total revenue growth, >77% Non-GAAP Gross Margins, and >27% Non-GAAP Operating Margin.
The total backlog grew 2.7 times from $108 million in 2020 to $292 million in Q3 2025, representing a 23% CAGR. Recurring revenue for TTM Q3 2025 was $182 million.

Dec 3, 2025, 11:15 PM

Presentation

PDF Solutions Updates Long-Term Financial Targets and Strategic Vision

PDFS

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

PDF Solutions (PDFS) reaffirmed its 2025 revenue growth rate guidance of 21%-23% and established new long-term targets: 20% revenue growth, gross margins exceeding 77%, and operating margins exceeding 27%.
The company's addressable market is expected to more than double over the next seven years, following a doubling in the past four years, driven by the increasing importance of manufacturing software in the semiconductor industry.
PDFS's backlog has grown significantly from over $100 million in 2020 to over $290 million in the most recent quarter, outpacing revenue growth and reflecting strong customer engagement.
The business has largely transitioned to an analytics model, with 94% of the business now analytics-focused and approximately 80% of total revenue, or over $180 million on a trailing twelve-month basis, being recurring.
PDFS is strategically positioned within a semiconductor industry projected to reach $1.1 trillion by 2030, with 67% of silicon related to AI, emphasizing the need for its unified analytics platform in the evolving 3D era of manufacturing.

Dec 3, 2025, 11:15 PM

Transcript

PDF Solutions Sets Ambitious Long-Term Financial Targets

PDFS

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

PDF Solutions has established new long-term financial targets, including 20% revenue growth, greater than 77% gross margin, and greater than 27% operating margin.
The company is positioning itself as a unified analytics platform for the semiconductor industry, which is projected to grow to $1.1 to $1.2 trillion by 2030.
The business model emphasizes recurring revenue, which constitutes approximately 80% of total revenue, exceeding $180 million on a trailing twelve-month basis, and boasts a backlog of over $290 million.
Investments in its DFI business are expected to yield a 5-plus X return on machine cost over the lifetime of the investment.

Dec 3, 2025, 11:15 PM

Transcript

PDF Solutions to Host 2025 Analyst Day and Reaffirms Revenue Guidance

PDFS

Guidance Update

PDF Solutions will host its 2025 Analyst Day on Wednesday, December 3, 2025, featuring presentations by Chief Financial Officer Adnan Raza and Chief Executive Officer John Kibarian.
A live webcast of the presentation, along with presentation materials, will be available on the Investor Relations section of the company's website at https://ir.pdf.com/webcasts, with a replay also accessible after the event.
The company reaffirmed its prior guidance range of 21-23% annual revenue growth for 2025.

Dec 2, 2025, 12:01 AM

Press Release

PDFS Reports Record Q3 2025 Revenue and Strong Bookings

PDFS

Earnings

Guidance Update

Product Launch

PDFS achieved record quarterly revenue of $57.1 million in Q3 2025, marking a 23% increase year-over-year, with analytics revenue reaching $54.7 million.
The company reported non-GAAP gross margin of 76% for Q3 2025, which is ahead of its long-term target of 75%.
Q3 2025 bookings totaled over $100 million, exceeding the prior two quarters combined, and the quarter ended with a backlog of $292 million, representing a 25% sequential increase and 22% year-over-year increase.
PDFS reaffirmed its guidance for 21%-23% annual revenue growth for the current year.
Key business developments include licensing Intel's Tiber AI Studio for integration into Exensio, signing two eight-figure contracts (one for Exensio with a large IC manufacturer and another for Cimetrix with a major equipment OEM), and shipping two additional eProbe machines under a subscription model.

Nov 6, 2025, 10:00 PM

Transcript

PDF Solutions Reports Record Third Quarter 2025 Financial Results

PDFS

Earnings

Revenue Acceleration/Inflection

Guidance Update

PDF Solutions, Inc. announced record quarterly total revenues of $57.1 million for the third quarter ended September 30, 2025, marking a 23% increase over the comparable quarter last year.
Non-GAAP diluted earnings per share (EPS) for Q3 2025 was $0.25.
The company reported an ending backlog of $292.0 million.
PDF Solutions reaffirmed its 21-23% annual revenue growth guidance for the year.