Pdf Solutions, Inc. · NASDAQ:PDFS
Pdf Solutions — Investor Presentation (March 2026)
33 slides from Pdf Solutions's investor presentation, March 2026
Slide 1: Investor Presentation
PDF Solutions Investor Presentation John Kibarian President & CEO, Co-Founder Kimon Michaels Executive VP, Products and Solutions, Co-Founder March 2026 Adnan Raza Executive VP, Finance & CFO
Slide 2: PDF Corporate Overview
PDF CORPORATE OVERVIEW PDF Solutions: Enabling the Digital Transformation of Semiconductor Manufacturing We generate and integrate data across the supply chain, and using AI we drive fast improvements in yield, quality, and efficiency. founded HQ Santa Clara, CA, USA offices & support teams worldwid
Slide 3: Key Industry Themes
Key Industry Themes The semiconductor industry is evolving to the 3D era The semiconductor market is growing rapidly: ~$1.1T in 2030 The industry needs a unified analytics platform PDF is the largest independent analytics platform, growing in industry relevance © © 2026 2026 PDF PDF Solutions, Solut
Slide 4: Semiconductor Industry Growth Driven By AI
Semiconductor Industry Growth Driven By AI ▪ By 2030, AI represents ~67% of the semi market ▪ AI expected to grow 3x faster than the semi market at ~30% CAGR ▪ AI growth driven by both Cloud and Edge applications Sources: International Business Strategies © 2026 PDF Solutions, Inc. or its subsidiari
Slide 5: The Market Opportunity Requires Solutions to Three Key Manufacturing and R&D Challenges
The Market Opportunity Requires Solutions to Three Key Manufacturing and R&D Challenges operating through a leveraging AI at all innovations in 3D complex global levels, from design to supply chain manufacturing PDF Solutions is instrumental to addressing these challenges © 2026 PDF Solutions, Inc.
Slide 6: Rapidly Growing Market Opportunity In 3D
Rapidly Growing Market Opportunity In 3D 2030 Foundry Market: ~$100B for <2nm wafers 2030 Advanced Packaging Market: ~$80B Sources: International Business Strategies, Yole Group © 2026 PDF Solutions, Inc. or its subsidiaries 6
Slide 7: An Expanding, Complex Global Semiconductor Supply Chain
An Expanding, Complex Global Semiconductor Supply Chain European Union Governments expected to deploy over South Korea $1.5T in the semi ecosystem through €43B in public funding aimed at doubling EU’s share of global chip ₩33T semiconductor support 2030 output to 20% by 2030(2) package, inclusive of
Slide 8: AI Adoption to Support Centralized Learning Across A Global Network
AI Adoption to Support Centralized Learning Across A Global Network Talent Shortage Labor Cost Variances Dispersed Manufacturing McKinsey estimates shortfall of Regional differences in labor Use engineering centers to drive semiconductor engineers could costs also helping to drive AI improvements gl
Slide 9: The PDF Platform brings together data, analytics, and orchestration
The PDF Platform brings together data, analytics, and orchestration to meet the challenges facing the semiconductor ecosystem. Big Data Infrastructure • Analytics & AI • Mission Critical Actions innovations in 3D global supply chain Characterization Smart Supply Chain & Technology Manufacturing & Or
Slide 10: The Semiconductor Ecosystem
The Semiconductor Ecosystem SUSS MicroTec Nikon ACCRETECH Representative companies, not intended to disclose customers © 2026 PDF Solutions, Inc. or its subsidiaries 10
Slide 11: Trusted by the Top Companies in the Industry
Trusted by the Top Companies in the Industry “Exensio links together the huge “PDFS integrates data […] and “PDF Solutions: a partner Committed, variety of data types necessary to provides templates to standardize, Experienced, and trusted in the perform analysis across the value streamline, and aut
Slide 12: Our Partners - Based on Industry Standards & Integrated with Leading Solutions Providers
Our Partners - Based on Industry Standards & Integrated with Leading Solutions Providers Financial: Links business & supply chain data with E2E MES: Integrated offering with PDF manufacturing data for analytics automation/analysis of quality & cost Test: Enhanced solutions for Collaboration with pT
Slide 13: The Operations Operating System of the Industry
The Operations Operating System of the Industry LEAD WITH INDUSTRY STANDARDS ENTERPRISE READINESS ECOSYSTEM REACH ENTERPRISE APPLICATIONS 10s of Ks 100+ SEMI INDUSTRY equipment tools Eg, E187, 188, 190, 191 INTEGRATION OEMs Chair 10 committees MES, PLM, ERP, SCM >300 Petabytes manufacturing sites co
Slide 14: Growing Manufacturing Costs and CapEx Necessitate the Need for Analytics
Growing Manufacturing Costs and CapEx Necessitate the Need for Analytics to Drive Efficiency Global Semi Manufacturing & ▪ Semi wafer manufacturing represents Equipment ~50% of the semiconductor market ~$780B ▪ Growing need for analytics driven by Semi CapEx spending ▪ Technology scaling Semi manufa
Slide 15: PDF Solutions Transformation and Addressable Market Expansion
PDF Solutions Transformation and Addressable Market Expansion PDF’s Transformation PDF Addressable Market 2010 2020 2030+ Yield Ramp & Technology Development Manufacturing Analytics High Volume Manufacturing Equipment & Supply Chain Orchestration • 2019 – 2023 addressable market expansion exceeded t
Slide 16: Annual revenue trend from FY2015 to FY2025
Annual revenue trend from FY2015 to FY2025 “TRANSITION” to Analytics Phase “GROW” Analytics Phase $219M PDF Actual Revenue $179M $166M $149M $107M $111M $98M $102M $86M $86M $88M FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 © 2026 PDF Solutions, Inc. or its subsidiari
Slide 17: Strong Expansion on Gross and Operating Margin
Strong Expansion on Gross and Operating Margin Gross Margin (%) Operating Margin (%) 21% 76% 17% 17% 15% 74% 73% 72% 71% 70% 69% 68% 2% 3% 1% 64% (1%) (0%) 63% (1%) 60% 58% (17%) (19%) FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 © 2026 PDF Solutions, Inc. or i
Slide 18: Revenue Mix: Platform vs. Volume-Based
Revenue Mix: Platform vs. Volume-Based Quarterly $57M $62M $52M $10M $50M $9M $46M $48M $41M $42M $6M $9M $5M $10M $5M $6M $48M $53M $41M $44M $43M $36M $36M $37M Q1-FY24 Q2-FY24 Q3-FY24 Q4-FY24 Q1-FY25 Q2-FY25 Q3-FY25 Q4-FY25 Annual $219M $38M $166M $179M Platform Revenue $22M Volume-Based Revenue
Slide 19: Revenue Mix: Recurring vs. Upfront
Revenue Mix: Recurring vs. Upfront $62M Quarterly $57M $1M $50M $52M $3M $46M $48M $6M $41M $42M $4M $2M $12M $11M $8M $61M $54M $44M $46M $39M $36M $38M $33M Q1-FY24 Q2-FY24 Q3-FY24 Q4-FY24 Q1-FY25 Q2-FY25 Q3-FY25 Q4-FY25 Annual $219M $14M $166M $179M Recurring Revenue $149M $21M $34M • SaaS, TBL s
Slide 20: Meaningful Leverage from eProbe Machine Investment
Meaningful Leverage from eProbe Machine Investment $5+ EXPECTED ROI >5x machine cost in lifetime revenue STRATEGIC SHIFT From owned hardware → subscription Mirrors cloud platform transition in industry SUBSCRIPTION ADVANTAGE $1 To customer: Ability to upgrade with minimal cost To PDF: Recurring reve
Slide 21: Strong Backlog Growth Increases Revenue Visibility
Strong Backlog Growth Increases Revenue Visibility $254M DUAL FOCUS Growing backlog + building long- Backlog term customer relationships 2.4x STRONG GROWTH METRICS $108M Revenue CAGR: 20% (2020 → 2025) Backlog: 2.4x growth from 2020 2020 2025 Total Backlog © 2026 PDF Solutions, Inc. or its subsidiar
Slide 22: Global Geographic Revenue Distribution
Global Geographic Revenue Distribution $88M $111M $149M $166M $179M $219M 22% 19% 25% 26% 32% 37% 15% 16% 16% 12% 13% 6% 18% 16% 9% 10% 21% 5% 56% 50% 48% 45% 42% 41% Globally diverse geographic distribution 2020 2021 2022 2023 2024 2025 United States Japan China Rest of the world © 2026 PDF Solutio
Slide 23: Capital Allocation over 2020 to 2025 period
Capital Allocation over 2020 to 2025 period Return Capital to Invest in Stockholders through Organic Growth Stock Buyback BALANCE SHEET $42.2M CAPEX M&A & Investments Share Repurchase Q4 2025 cash $81.4M $165.5M $34.9M $67.0M Invest in M&A to Q4 2025 debt Enhance Growth © 2026 PDF Solutions, Inc. or
Slide 24: Long-Term Financial Targets
Long-Term Financial Targets Prior Targets New Targets Total Revenue Growth >20% 20% Non-GAAP Gross Margins >75% >77% Non-GAAP Operating Margin 20% >27% Assumes Semi Industry and Semi CapEx both grow 10% or greater per year © 2026 PDF Solutions, Inc. or its subsidiaries 24
Slide 25: Q4 2025 Results Summary
Q4 2025 Results Summary Operating Diluted EPS Revenue Gross Margin Backlog Geographic Cash and Debt Margin Mix Non-GAAP: $62.4M Non-GAAP: 77% $254.2M Cash: $42.2M Non-GAAP: 24% $0.30 GAAP: 73% US: 58% Debt: $67.0M GAAP: 6% GAAP: $(0.00) Japan: 13% China: 12% ROW: 17% © 2026 PDF Solutions, Inc. or it
Slide 26: Financials - Appendix
Financials - Appendix
Slide 27: Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income
Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income © 2026 PDF Solutions, Inc. or its subsidiaries 27
Slide 28: Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income
Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income © 2026 PDF Solutions, Inc. or its subsidiaries 28
Slide 29: Reconciliation of GAAP to Non-GAAP Spending by Function
Reconciliation of GAAP to Non-GAAP Spending by Function © 2026 PDF Solutions, Inc. or its subsidiaries 29
Slide 30: Reconciliation of GAAP to Non-GAAP Spending by Function
Reconciliation of GAAP to Non-GAAP Spending by Function © 2026 PDF Solutions, Inc. or its subsidiaries 30
Slide 31: Forward Looking Statements
Forward Looking Statements Certain statements in this presentation, and statements that may be made when discussing it, include forward-looking statements regarding the Company’s future expected business performance and financial results, including expectations about target metrics, portfolio streng
Slide 32: GAAP / Non-GAAP Presentation
GAAP / Non-GAAP Presentation In addition to providing results that are determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”), the Company also provides certain non-GAAP financial measures. Non-GAAP gross profit and margin exclude stock- based
Slide 33: Thank You
Thank You PDF / SOLUTIONS’ www.pdf.com INSTAGRAM TWITTER FACEBOOK LINKEDIN WECHAT YOUTUBE @pdfs.Inc @pdt_solutions | pdfsolutionsinc | @pdf-solutions | @pdfs_cn | @pdf_solutions