PDF SOLUTIONS INC
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
PDFS$39.16-3.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $15,903 | $(592) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Stock-based compensation expense | 20,866 | 19,059 |
| Depreciation and amortization | 5,922 | 2,637 |
| Amortization of acquired intangible assets | 6,111 | 5,189 |
| Amortization of costs capitalized to obtain revenue contracts | 2,336 | 2,217 |
| Net accretion of discounts on short-term investments | — | (279) |
| Recovery from previously written-off property and equipment | — | (641) |
| Deferred taxes | 312 | 36 |
| Other | (233) | (303) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (13,639) | 1,737 |
| Prepaid expenses and other current assets | (16,826) | (19,042) |
| Operating lease right-of-use assets | 1,561 | 1,180 |
| Other non-current assets | (3,196) | 1,303 |
| Accounts payable | (253) | 3,208 |
| Accrued compensation and related benefits | (2,859) | 140 |
| Accrued and other liabilities | 852 | (2,821) |
| Deferred revenues | 16,434 | (5,054) |
| Operating lease liabilities | (1,457) | (1,262) |
| Net cash provided by operating activities | 31,834 | 6,712 |
| Cash flows from investing activities: | ||
| Proceeds from maturities and sales of short-term investments | — | 27,498 |
| Purchases of short-term investments | — | (2,937) |
| Purchases of property and equipment | (39,407) | (22,840) |
| Prepayment for the purchase of property and equipment | (246) | (214) |
| Recovery from previously written-off property and equipment | — | 641 |
| Payment for business acquisition, net of cash acquired | — | (129,718) |
| Net cash used in investing activities | (39,653) | (127,570) |
| Cash flows from financing activities: | ||
| Proceeds from shares issued under secondary offering, net of underwriting discounts and commissions of $3,860 | 81,791 | — |
| Proceeds from exercise of stock options and employee stock purchase plan | 4,431 | 4,243 |
| Payments for taxes related to net share settlement of equity awards | (11,625) | (5,946) |
| Repurchase of common stock | — | (244) |
| Repayments of long-term debt | (1,875) | (1,250) |
| Proceeds from long-term debt, net of debt discount | — | 69,550 |
| Payments of debt issuance costs | (144) | (900) |
| Net cash provided by financing activities | 72,578 | 65,453 |
| Effect of exchange rate changes on cash and cash equivalents | 152 | 691 |
| Net change in cash and cash equivalents | 64,911 | (54,714) |
| Cash and cash equivalents at beginning of period | 42,220 | 90,594 |
| Cash and cash equivalents at end of period | $107,131 | $35,880 |
Continued on next page
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS–** CONTINUED**
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Supplemental disclosure of cash flow information: | ||
| Cash payments for: | ||
| Income taxes | $1,532 | $2,148 |
| Amounts included in the measurement of operating lease liabilities | $1,716 | $1,449 |
| Interest on long-term debt | $3,046 | $2,622 |
| Supplemental disclosure of noncash information: | ||
| Prepayments for purchase of property and equipment transferred from prepaid assets to property and equipment | $264 | $377 |
| Property and equipment received and accrued in accounts payable and accrued and other current liabilities | $6,213 | $11,318 |
| Stock-based compensation capitalized as property and equipment | $690 | $322 |
| Net carrying value of property and equipment expensed in cost of revenues, and property and equipment transferred to sales-type leases and from other non-current assets, net | $5,602 | $3,242 |
| Operating lease liabilities arising from obtaining right-of-use assets | $4,981 | $2,292 |
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