Business Overview - PDF Solutions is a leading commercial data and analytics platform in the semiconductor and electronics industry[5] - The company's platform addresses the needs of the semiconductor ecosystem with integrated solutions for characterization, smart manufacturing, and supply chain orchestration[19, 20] - PDF Solutions has a strong presence with >140k equipment factory connections with over >40k process tools[37] - The company has 350+ revenue generating customers in 33 countries as of TTM Q1'25[37] Market Opportunity and Growth - AI-related devices are expected to represent 71% of total semiconductor revenue in 2030[8] - The total semiconductor analytics TAM is projected to reach $26.1 billion by 2030+ from $10.4 billion in 2019[49] - PDF Solutions estimates its serviceable addressable market (SAM) at ~$2.6 billion based on 2023 data[52] - The company targets total revenue growth of >20% year-over-year[38] Financial Performance - In Q1 2025, PDF Solutions reported revenue of $47.8 million[62] - The company's backlog was $226.7 million as of Q1 2025[62] - The non-GAAP gross margin was 77% and the non-GAAP operating margin was 18% in Q1 2025[62] - As of Q1 2025, the company had $54.1 million in cash and $68.7 million in debt[57, 62]