PDF Solutions, Inc. (NASDAQ:PDFS) Q2 2022 Earnings Conference Call August 11, 2022 5:00 PM ET
Company Participants
John Kibarian – President and Chief Executive Officer
Adnan Raza – Chief Financial Officer
Conference Call Participants
Tom Diffely – D.A. Davidson
Gus Richard – Northland
Blair Abernethy – Rosenblatt
Operator
Good day, ladies and gentlemen, and welcome to PDF Solutions Conference Call to Discuss its Financial Results for the Second Quarter Ending Sunday, June 30, 2022. [Operator Instructions] As a reminder, this conference is being recorded. If you have not yet received a copy of the corresponding press release, it has been posted to PDF’s website at www.pdf.com.
Some of the statements that will be made in the course of the conference are forward-looking, including statements regarding PDF’s future financial results and performance, growth rates and demand for its solutions. PDF’s actual results could differ materially.
You should refer to section entitled Risk Factors on Pages 17 through 30 of PDF annual report on Form 10-K for the fiscal year ended December 31, 2021, and similar disclosures in subsequent SEC filings. The forward-looking statements and risks stated in this conference call are based on information available to PDF today, and PDF assumes no obligation to update them.
Now I’d like to turn the conference over to John Kibarian, PDF’s President and Chief Executive Officer; and Adnan Raza, PDF’s Chief Financial Officer. Mr. Kibarian, please go ahead.
John Kibarian
Thank you for joining us on our call today. If you’ve not already seen our earnings press release, financial report and 10-Q for the second quarter, please go to the Investors section of our website where each has been posted. We appreciate you’re taking time to join us today. I will start the discussion by providing commentary on our Q2 highlights. From there, I’ll provide our impressions to the semiconductor industry and conclude our expectations for PDF’s business in the second half of the year before handing it over to Adnan for a more detailed financial update.
Highlights for the second quarter show progress towards our long-term objective of being the go-to manufacturing data and analytics platform for the semiconductor electronics ecosystem. Our bookings in the second quarter include significant customer renewals of Exensio, new customers deploying Exensio, additional wins for symmetric equipment connectivity solutions and yield ramp solutions. The largest Exensio renewal in the quarter was a U.S. based and renewed at an increase to ARR of approximately 30%.