PDFSPDF SOLUTIONS INC
Services-Prepackaged Software
- Revenue
- $219M
- 22% YoY
- Operating margin
- 2.7%
- 412% YoY
- EBITDA
- $10M
- 118% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -4.9×
- −$48M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired12% of revenueOver 10% of revenue
- Payouts exceed cash flowClear1% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear18% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $111M | $149M | $166M | $179M | $219M | 22% |
| Operating income | — | — | −$151K | $935K | $6M | 525% |
| Net income | −$22M | −$3M | $3M | $4M | −$600K | 115% |
| Operating cash flow | $4M | $32M | $15M | $10M | $24M | 148% |
| Capex | $4M | $8M | $11M | $17M | $33M | 90% |
| Stock-based comp | $13M | $20M | $21M | $25M | $26M | 3.5% |
| Buybacks | $5M | $22M | $743K | $7M | $244K | 96% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $694K | $694K | 132 | 141 |
| FY2024 | $590K | $590K | 125 | 118 |
| FY2023 | $596K | $596K | 149 | 119 |
| FY2022 | $655K | $655K | 132 | 98 |
| FY2021 | $409K | $409K | 147 | 127 |