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PDF Solutions (PDFS) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · PDF Solutions (PDFS) Q3 2026 earnings results →

Q3 2026 Revenue up 20% year over year to $68.3M · 10¢ of every $1 of revenue kept as net profit · operating margin 12.1%

PDF Solutions made $68.3M in Q3 2026 (+20% Y/Y): Platform $58.3M, Volume-Based $10.0M. Operating margin 12.1%, net earnings $6.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$68.3M
Year over year+20%
Operating margin12.1%
Net earnings$6.8M
Operating cash flow$13.8M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $68.3M in Q3 2026, up 20% year over year and up 11% from the previous quarter. Platform was the largest line at 85% of revenue. Platform added $10.3M year over year (up 22%), 92% of the total change.

Operating profit was $8.3M, a 12.1% margin (up 3.7 points year over year). Of the extra revenue versus Q3 2025, 31% reached operating profit, above the 8% margin then. The fastest-growing cost line was Research & development (+26%). Net earnings were $6.8M, up 429% year over year. The effective tax rate was 18.1%.

Operating cash flow was $13.8M (up 319% year over year), 201% of net earnings. Non-cash charges added back $2.2M of depreciation and amortization and $8.5M of share-based compensation. Working capital and other items used $3.8M. Capital expenditures of $14.9M exceeded it, leaving free cash flow of −$1.1M.

Quarterly history

PDF Solutions revenue by quarterPDF Solutions revenue by quarter$47.8MQ1 2025$51.7MQ2 2025$57.1MQ3 2025$62.4MQ4 2025$60.1MQ1 2026$61.5MQ2 2026$68.3MQ3 2026
PDF Solutions net earnings by quarterPDF Solutions net earnings by quarter−$3.0MQ1 2025$1.1MQ2 2025$1.3MQ3 2025−$48KQ4 2025$4.8MQ1 2026$4.3MQ2 2026$6.8MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$68.3M+20%12.1%$6.8M$13.8M
Q2 202610-QAug 6, 2026$61.5M+19%8.2%$4.3M$16.4M
Q1 202610-QMay 7, 2026$60.1M+26%10.5%$4.8M$1.7M
Q4 202510-KFeb 24, 2026$62.4M+25%5.5%−$48K$17.3M
Q3 202510-QNov 6, 2025$57.1M+23%8.5%$1.3M$3.3M
Q2 202510-QAug 7, 2025$51.7M+24%2.2%$1.1M−$5.2M
Q1 202510-QMay 8, 2025$47.8M+16%-7.4%−$3.0M$8.6M

Charts

PDF Solutions: revenue growth, year over year and quarter over quarterPDF Solutions: revenue growth, year over year and quarter over quarterY/YQ/Q+16%Q1 2025+24%+8%Q2 2025+23%+10%Q3 2025+25%+9%Q4 2025+26%-4%Q1 2026+19%+2%Q2 2026+20%+11%Q3 2026
Latest (Q3 2026): Y/Y +20%, Q/Q +11%.
PDF Solutions: where the cash came from (+) and went (−), TTM to Q3 2026PDF Solutions: where the cash came from (+) and went (−), TTM to Q3 2026Other financing$86.1MCash drawn (+) / kept (−)−$71.3MCapital spending−$49.2MOperating cash flow$49.2MTaxes on employees’ shares−$11.9MNet borrowing (+) / repaid (−)−$2.5MOther investing−$246KExchange rates−$168K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
PDF Solutions: profit against cash, quarter by quarterPDF Solutions: profit against cash, quarter by quarterNet incomeOperating cash flow$539K$1.6MQ4 2024−$3.0M$8.6MQ1 2025$1.1M−$5.2MQ2 2025$1.3M$3.3MQ3 2025−$48K$17.3MQ4 2025$4.8M$1.7MQ1 2026$4.3M$16.4MQ2 2026$6.8M$13.8MQ3 2026
Latest (Q3 2026): Net income $6.8M, Operating cash flow $13.8M.
PDF Solutions: diluted shares by fiscal yearPDF Solutions: diluted shares by fiscal year34MFY202037MFY202137MFY202239MFY202339MFY202439MFY2025
+14.1% since FY2020: more shares outstanding (issuance, stock pay).
PDF Solutions: long-term debt falling due (FY2025)PDF Solutions: long-term debt falling due (FY2025)$2.5M2026$2.5M2027$2.5M2028$2.5M2029$58.1M2030
Cash $42.2M, short-term investments $0, long-term debt $67.0M at 2025-12-31.
PDF Solutions in its industry: growth against margin (192 companies, SIC 7372)PDF Solutions in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYPDFS (+20%, 12%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About PDF Solutions

We provide comprehensive data solutions designed to empower organizations across the semiconductor and electronics ecosystems to improve the yield and quality of their products and operational efficiency for increased profitability. We derive revenues from two categories, Platform and Volume-based fees. Our offerings that contribute to Platform revenue are licenses for software (other than Cimetrix® runtime licenses) and related software maintenance and technical support services; software-as-a-service (“SaaS”); engineering services; fixed fees associated with Characterization Vehicle® systems; and licenses and purchase contracts for DirectScan™ systems (formerly known as “DFI systems”). Volume-based revenue is derived from Cimetrix runtime licenses, secureWISE® data, and variable/royalty fees associated with CV® systems (sometimes referred to as Gainshare).

In its own words, from its 10-K, filed Feb 24, 2026.

PDF Solutions against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +20% against the peers' median +19%. Operating margin: 12.1% against the peers' median 15.2%.

CompanyQuarterRevenueY/YOp. margin
PDFS PDF SolutionsQ3 2026$68.3M+20%12.1%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: PDF Solutions 10-Q on SEC EDGAR · CIK 1120914 · Services-Prepackaged Software

Guidance and outlook

PDF Solutions: what its forward-looking statements are about (10-Q filed 2026-11-05)PDF Solutions: what its forward-looking statements are about (10-Q filed 2026-11-05)Capital spending4Demand3The economy2Other2Costs2Margins1Legal & regulation1
15 statements; tone +0.07 (−1 all cautious, +1 all confident); 3 hedged.
PDF Solutions: outlook statements against the filing beforePDF Solutions: outlook statements against the filing beforeConfident3Cautious2

13F: who owns PDFS and who is buying

Largest holders of PDFS (13F)Largest holders of PDFS (13F)BlackRock$393MNeedham Investment Management LLC$146MWasatch Advisors LP$135MVanguard Capital Management LLC$118MVanguard Portfolio Management LLC$103MState Street$98.2MVanguard Group$88.1MRanger Investment Management, L.P.$81.4MSnyder Capital Management L P$73.2MJupiter Topco LLC$65.7M
Funds' net buying of PDFS by quarter (13F)Funds' net buying of PDFS by quarter (13F)$17.0M2024-09−$7.8M2024-12$3.0M2025-03$28.8M2025-06$21.2M2025-09−$5.0M2025-12$5.2M2026-03$421M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PDFS

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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