PDF Solutions (PDFS) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and PDF Solutions published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. PDF Solutions reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• In Q4 2025 PDF Solutions changed its revenue categories to Platform and Volume-based and reclassified prior periods. Total revenues did not change.

Source: PDF Solutions Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How PDF Solutions splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• PDF Solutions's Platform revenue was $58.3 million in Q3 2026, up 22% from $48.0 million in Q3 2025, 85% of total revenue.
• PDF Solutions's Volume-based revenue was $10.0 million in Q3 2026, up 10% from $9.1 million in Q3 2025, 15% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

PDF Solutions gives an annual revenue growth target, stated by its CEO in the release, and no quarterly revenue or EPS range.

In its Q3 2026 release, PDF Solutions said:

“Based on actual results through the third quarter and the pipeline for the fourth quarter, we reaffirm our 20% annual revenue growth target for 2026.”

Source: PDF Solutions Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PDFS forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and GAAP diluted EPS, each as first reported in that quarter's release. PDF Solutions printed Q4 2025 diluted EPS as $(0.00), a net loss of less than half a cent per share.

We do not hold a confirmed date for PDF Solutions's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

PDF Solutions reported record total revenues of $68.3 million in Q3 2026, up 20% from $57.1 million a year earlier and up 11% from Q2 2026. It splits revenue into two categories. Platform revenue, which covers software licenses and maintenance, SaaS, engineering services, CV systems and DirectScan systems, was $58.3 million, up 22%. Volume-based revenue, from Cimetrix runtime licenses, secureWISE data and Gainshare, was $10.0 million, up 10%. (PDF Solutions Q3 2026 release, Nov 5, 2026; PDF Solutions Q3 2026 management report, Nov 5, 2026)

PDF Solutions' 10-Q attributes the Platform increase to higher revenues from CV and DirectScan and secureWISE systems, partly offset by slightly lower revenues from Cimetrix and Exensio software and services. Volume-based revenue rose mainly on Cimetrix runtime licenses, partly offset by lower secureWISE data usage revenue. (PDF Solutions Form 10-Q, Q3 2026, Nov 5, 2026)

PDF Solutions' revenue is concentrated in a few customers. One customer accounted for 26% of revenue in Q3 2026, against 12% a year earlier, and another for 20%, against 38%. By geography, Japan jumped to $21.7 million, 32% of revenue, from $10.1 million, while the United States fell to $22.7 million, 33%, from $30.1 million. China was $11.1 million, or 16%. (PDF Solutions Form 10-Q, Q3 2026, Nov 5, 2026; PDF Solutions Q3 2026 management report, Nov 5, 2026)

Recurring revenue was 88% of the total in the quarter, against 95% a year earlier, and upfront revenue, which includes Exensio perpetual licenses, certain CV test chip designs and hardware sales and sales-type leases, was 12%, against 5%. Ending backlog was $247.2 million, against $270.7 million at the end of Q2 2026 and $292.0 million a year earlier. (PDF Solutions Q3 2026 management report, Nov 5, 2026; PDF Solutions Q3 2026 release, Nov 5, 2026; PDF Solutions Form 10-K, 2025, Feb 24, 2026)

PDF Solutions' GAAP net income was $6.8 million, or $0.16 per diluted share, in Q3 2026, against $1.3 million, or $0.03, a year earlier. Non-GAAP net income was $17.2 million, or $0.40 per diluted share, against $9.8 million, or $0.25. Non-GAAP results exclude stock-based compensation ($8.5 million in the quarter), amortization of acquired intangible assets ($2.0 million), legal costs mainly tied to an arbitration proceeding ($436 thousand) and acquisition-related costs, along with tax adjustments for the valuation allowance on deferred tax assets. (PDF Solutions Q3 2026 release, Nov 5, 2026)

PDF Solutions' effective tax rate was 18% in Q3 2026, against 63% a year earlier and 102% in Q4 2025, because on a GAAP basis it carries a valuation allowance and gets no deferred tax benefit for foreign tax credits or research and development credits. Its non-GAAP tax expense is calculated without that allowance. (PDF Solutions Q3 2026 management report, Nov 5, 2026; PDF Solutions Q3 2026 release, Nov 5, 2026)

Diluted weighted average shares were 42,976 thousand, against 39,619 thousand a year earlier. PDF Solutions has not repurchased shares in 2026. Outstanding debt principal was $66.2 million at the end of the quarter, and capital expenditures were $15.1 million, more than operating cash flow of $13.8 million. (PDF Solutions Q3 2026 release, Nov 5, 2026; PDF Solutions Q3 2026 management report, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

PDF Solutions does not give a quarterly revenue or EPS range in its release. Its outlook is an annual revenue growth target, and with Q3 2026 CEO John Kibarian reaffirmed the 20% target for 2026 based on results through the third quarter and the fourth-quarter pipeline. Revenue for the first nine months was $190.0 million, against $156.6 million a year earlier. (PDF Solutions Q3 2026 release, Nov 5, 2026)

In September 2026 PDF Solutions announced Exensio Aurora, a new architecture for its Exensio analytics software that it says is built for semiconductor manufacturing data at petabyte scale and for deploying agentic AI across manufacturing operations and the supply chain. (PDF Solutions Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover PDF Solutions, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones PDF Solutions's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PDFS is on is PDFS a buy or a sell?, what analysts expect next is on the PDFS forecast, and what the company does is on the PDF Solutions (PDFS) stock page.

Every number on this page can be traced to a document PDF Solutions published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.