PDF Solutions, Inc. announced total revenues of $46.4 million for the third quarter of 2024, marking an increase from $41.7 million in the second quarter of 2024 and $42.4 million in the third quarter of 2023. Analytics revenue reached $44.8 million, demonstrating growth from $38.1 million in the prior quarter and $39.5 million year-over-year.
The company reported a GAAP gross margin of 73% for Q3 2024, an improvement from 71% in Q2 2024 and 66% in Q3 2023. GAAP net income for the quarter was $2.2 million, or $0.06 per diluted share, a notable turnaround from a net loss of $5.0 million, or ($0.13) per diluted share, in the third quarter of 2023.
Management provided a positive financial outlook, expecting fourth quarter revenue to grow year-over-year in line with its long-term target of 20%. Additionally, bookings for the first nine months of 2024 have already surpassed the total bookings for the full year of 2023, indicating strong customer demand.
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