PDF SOLUTIONS INC
For the period ended Mar 31, 2024. Filed May 9, 2024.
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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.
Mar 31, 2024 · Filed May 9, 2024
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
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Three Months Ended March 31, | ||||||
| | 2024 | 2023 | ||||
| Cash flows from operating activities: | | | | | | |
| Net income (loss) | | $(393) | | $355 | ||
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | | | | | ||
| Depreciation and amortization | | 1,064 | | 1,304 | ||
| Stock-based compensation expense | | 6,110 | | 4,884 | ||
| Amortization of acquired intangible assets | | 843 | | 878 | ||
| Amortization of costs capitalized to obtain revenue contracts | | 634 | | 456 | ||
| Net accretion of discounts on short-term investments | | | (485) | | | (231) |
| Deferred taxes | | 9 | | (23) | ||
| Other | | (74) | | — | ||
| Changes in operating assets and liabilities: | | | | | ||
| Accounts receivable | | (2,389) | | (4,872) | ||
| Prepaid expenses and other current assets | | (408) | | (973) | ||
| Operating lease right-of-use assets | | 306 | | 302 | ||
| Other non-current assets | | (5,864) | | (476) | ||
| Accounts payable | | 1,801 | | 1,261 | ||
| Accrued compensation and related benefits | | (5,214) | | (3,132) | ||
| Accrued and other liabilities | | 213 | | 260 | ||
| Deferred revenues | | 1,529 | | 723 | ||
| Billings in excess of recognized revenues | | 775 | | (1,510) | ||
| Operating lease liabilities | | (319) | | (188) | ||
| Net cash used in operating activities | | (1,862) | | (982) | ||
| | | | | | | |
| Cash flows from investing activities: | | | | | | |
| Proceeds from maturities and sales of short-term investments | | 19,000 | | 7,000 | ||
| Purchases of short-term investments | | | (19,619) | | | (6,351) |
| Purchases of property and equipment | | | (2,023) | | | (2,902) |
| Net cash used in investing activities | | (2,642) | | (2,253) | ||
| | | | | | | |
| Cash flows from financing activities: | | | | |||
| Proceeds from exercise of stock options | | 25 | | 345 | ||
| Proceeds from employee stock purchase plan | | 1,916 | | 1,663 | ||
| Payments for taxes related to net share settlement of equity awards | | (3,794) | | (4,101) | ||
| Repurchases of common stock | | (6,899) | | — | ||
| Net cash used in financing activities | | (8,752) | | (2,093) | ||
| | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (466) | | 86 | ||
| Net change in cash and cash equivalents | | (13,722) | | (5,242) | ||
| Cash and cash equivalents at beginning of period | | 98,978 | | 119,624 | ||
| Cash and cash equivalents at end of period | | $85,256 | | $114,382 | ||
Continued on next page.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – CONTINUED
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Three Months Ended March 31, | ||||||
| | | 2024 | 2023 | |||
| Supplemental disclosure of cash flow information: | | | | | | |
| Cash paid during the year for taxes | | $668 | | $1,985 | ||
| Cash paid for amounts included in the measurement of operating lease liabilities | | $405 | | $276 | ||
| | | | | | | |
| Supplemental disclosure of noncash information: | | | | | | |
| Property and equipment received and accrued in accounts payable and accrued and other liabilities | | $745 | | $1,714 | ||
| Advances for purchase of fixed assets transferred from prepaid assets to property and equipment | | $— | | $21 | ||
| Operating lease liabilities arising from obtaining right-of-use assets | | $142 | | $— | ||
| Property and equipment transferred to sales-type leases | | $3,652 | | $— | ||
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