PDFS - Earnings call transcript Q2 2021

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Operator

Good day and thank you for standing by. Welcome to the PDF Solutions’ Second Quarter 2021 Conference Call. At this time, all participant’s line are in a listen only mode. After the speakers presentation, there will be a question-and-answer session for which instructions will be given at that time. I would now like to hand the call over to Joseph Diaz of Lytham Partners. sir. ahead, go Please

Joseph Diaz

And on all your this interest your Donna. joining time you us ongoing Solutions. PDF today call. in thanks you, of to for and Thank We appreciate

Lytham is operator the I’m Partner the PDF. firm indicated, Relations name Partners, As Joe are we my a Diaz, Managing consulting for Investor at

it on the Company’s you yet a have available If copy of at is pdf.com. do not today’s press release, website

the future will meaning during made the of be statements PDF’s Litigation Forward-Looking materially. could call Act and statements within performance, actual the the XXXX, of Some differ solutions. rates Reform of this course for Securities financial Private including conference its growth results demand of regarding results, PDF’s

Annual December conference Form year based forward-looking Report the available fiscal You filings. XXXX subsequent stated XX, for on on this call Company Risk refer should the Company’s section XX-K ended to similar and risks The entitled to SEC The are disclosures and statements PDF in today. information the Factors on on no and conclusion Chief remarks, that call introduce Vice Solutions’, will Adnan and to Executive PDF I At who Officer. your Kibarian, for John would prepared like President to Raza, has them. Executive be questions. said, followed update President will of by the Officer, management’s Financial the Chief With we obligation open

President of PDF CEO and Solutions. now me Kibarian, over the turn John Let to call John.

John Kibarian

joining Thank our today. you for us call on

show start semiconductor QX We on by Investor From release for with semiconductor of QX, appreciate for the before our posted. more discussion strong. progress to seen the was industry quarter to please press the already update. Building commentary and the our our detailed financial report will each Highlights half electronics it go-to the business impressions in not earnings handing highlights. second being manufacturing quarter provide objective providing our I business us have long-term PDF the today. the very time for expectations where taking has of of there, industry. our for year, analytics Section second you quarter, I will in join second and management conclude If the the for second go platform towards your to activity website, over been our and of Adnan XX-Q data on the

year, first For and the half the XX, of total XX, up doubled first June to as June with than half of are more, the of XX% XXXX. XXXX compared has backlog more compared XXXX bookings

In second two ability their for edge between platform, the and In and which the contracts to chain we that be As we benefit data we XX fosters solutions, analytics can requires data, our data the manufacturing collaboration analytics customers, demonstrate the SaaS particular, to suppliers. customers and wise model edge. to three. from note. bring nanometers customers they ramping strong of platform use and platform Increasingly supply before, said of quality where the believe cloud, the the analytics right both the requiring on equipment leading developing applied processes to a bookings from right successful are there of them were quarter, with

The is integrated multi-year, Chinese existing DRAM customers. first contract for multi an a node

to already reflected infrastructure start first Exensio subscription a by DFI equipment strong in begin multi-million of of agreement This has the has the while systems, industry been Cimetrix deployment another having in start subscription the in larger customer completed. for node contracts analytics these quarter a part, deployment The for interest with the conductivity basis. agreement multi-year increased of products. is quickly quick on dollar is second to CV system us the The a enabled

the orders as well as assembly testing front-end most included complex some quarter equipment, This from tools. of fab

our of development included. equipment kits with us is on enable starts software with software then for the customer run-time They with software tour for our licensing licenses which SDKs equipment. each business their Our integration or pay to

the year, revenue licenses. half record first the we from For experienced of run-time

run-time We also bodes have strong design wins future well equipment platforms on licenses. new that for

to customers continue quarter, the adopt signed in bookings In us SaaS to largest enabled to quite the contract salvage second as advantages deployment companies on-premise of the their cloud cloud. Exensio are quarter our the U.S.-based a to solution. with by the benchmark, our grow and one meaningful. like Our data big companies found move cost moving that of who Exensio most cloud They performance

growth having the between marketplace. multiple partnership we by first collaboration that years. $XX in advantage agreement this petabytes sale leverages and the the the The the the quarter, few importantly and and tests. product tests cloud, over sales is integrated of million partnership demonstrates recognize Exensio’s signed of from year next capabilities second in provides revenue above unique minimum under in and of when from of Advantest This agree in than the our less and to Advantest that Given capabilities their over a per anticipate In the first adaptive year Exensio a data with revenue commitment initiated. knowhow we management was our PDF the companies, product differentiated integrated Advantest

interest analytics bodes the in progress continued now seeing the grew basis, are node first electronics year, of I products in companies will up XX% year. the business. control half we first the investments half and very at which our half XX% achieved industry. We year, QX. Looking new bring continued believe process we that for second and in the our elevated to-date. in what semiconductor well we Overall, like would strong in the see we year-over-year pleased of turn On revenue the for the for are of to with a to

we more of to led share by this in of first bookings offering year. the and QX quarter bookings earlier That a off broadly. As And half. rolling anticipate backlog and to strong believe revenue said, for We we be share gains should third contracts the this the revenue. year, base second anticipate of year QX our leading legacy discussed analytics do to remainder below the customers half the strong edge the anticipated due resulting broad exceed gains our continuous solution for for growth cloud we in

pleased manufacturing we Solutions visibility financial We progress and making analytics the revenue PDF platform greater for our build have data streams to year half with industry, in of helps the made the recurring results. to first of provide are us and predictability the which

and to thank continuing supporting for I our COVID-XX innovate Finally, want to customers environment. employees the in our nimbly

would we call Adnan. the will turn Now to after Adnan to which the call up over financials, I a open your questions. like of the review for to

Adnan Raza

Good speak with all you of safe. again afternoon, your keeping everyone. Thank I hope today you and and Good to you, John. are all families

you bring on We the the the pleased to of second progress review are business. results quarter and for the financial up-to-date to

be Our in also results has to as million XX.X will today’s Financial financial on call well second dollar provided with we solid XX.X basis a we year. coming reconciliation million the this the the a results form strong QX coming revenue basis, second in first the last been from continued is total revenues revenue quarter and total after XX% quarters. a the revenue be up filed XXXX SEC XXXX quarter for up in expect XX.X grow was Analytics quarter represented was quarter. versus of On basis in XX-Q the as of financials website. a quarter. to XX% discuss our Please of non-GAAP the all today. that a on materials to XXXX note GAAP and million further percentage comparable in analytics QX of XX% of to

largest the making for platform great to the data are We progress a be semiconductor electronics manufacturing and goal global towards industry. analytics

booking the X.X increase in John year’s our second Overall spoke of in was from XX%. quarter, We as an a ramp businesses yield second quarter, result strength customer a fee million, integrated compared of During for a revenue gaining fixed about. for revenue to services, Chinese last our contribution saw momentum. that million large X.X

You bookings comparable total period of high the half more XXXX In that first year. XXXX. growth by than a may XX% last two recall that and of increased times that half from by increased bookings XXXX, full-year

continue strong, to for sets the revenue which bookings So, stage growth. be very future

backlog, in the revenue analytics in in decline strength than any and offset quarters. we bookings coming our believe more the Given little

very XXX%. of is of use compared QX, can our grow. million to an the was XXXX, and end backlog At backlog increase XXX.X into XXXX, strong to Our XX.X million

be not in do expect forward, going percentage this we triple backlog the the to growth coming While building in strong. to continue our momentum continue digit believe bookings continue the quarters as can we

The goal. progress us the provide got mix product anticipated to lower The goal progress QX we make which gross continue non-GAAP and XX% margin in software of towards XX%. to transition margin especially gross gross revenues. margin, backlog can confidence continue to bookings is given gross to growth increase that work to During quarter, Favorable us our continues margin gain to XXXX. in share we our important,

from contracts. operating and On to due personnel related cost the also X.X our our of to million to investments Cimetrix primarily due spending sales prior expenses, due by QX costs software infrastructure personnel year, side prior year, cloud, Within acquisition, to costs in to deliver PDF on increased and compared X.X were subcontractor related compared Cimetrix of and customer primarily million, up from QX hardware R&D our and side. to

year was Cimetrix compared of the Our X.X prior of SG&A million increase to QX driven acquisition. by

are customers a and looking technology with to increasingly Exensio as regards CV analytics DFI mentioned, of nodes. our at for some combined CV As John solution and leading edge DFI systems

for million We flows, and expect compared history. million cash from of operations approximately to XXX million in XXX with cash equivalence and to the generate December, the quarter generated operations from XXXX. at X.X year consistent with cash the cash we our On cash ended we flow

buy cloud the we strategic growth. of the us opportunities X.X available. positions as become consider During and We Cimetrix believe investments well approximately they to for acquisition strength related our used infrastructure balance to the backs acquisition that cash of first sheet half continued stock the of million for payments year, future

for Looking forward, year-over-year calendar and XX% of to expected to we now between And gaining total basis. given remainder full-year are our the with expect strong on results the a XXXX grow revenues XXXX. backlog bookings, XX% confidence year anticipated

We XX% to that, operator the analytics to commence full-year over a year-over-year also the on the expect than session. grow to With more XXXX Operator. call will Q&A I revenues turn basis.

Operator

McPeake [Operator Instructions] from Rosenblatt your And question Securities. first John comes from

open, now is line sir. Your

John McPeake

I which kick But when a to saying of question. come have was right here job. with And down looks like right? going been I that I’m my off dull calculations nice hung, thorn a Is here What somewhat kind nicely. Okay. DSOs,

Adnan Raza

to this Yes, in this We a to our tax do with new quarter work had compared did collections the quarter put some honest processes We yes. is, fantastic and some to with did team and really you, AR well job. be last balances quarter. we the

quarter. this I customers some think half for of our

John McPeake

doing day think, not I’m mean, exact the figure I one the it stay from from XXX Adnan. days, using would quarter do the Can XX-days, Yes, it down XX. to of you to here,

Adnan Raza

on the look, metric, will located. are is us customer building I region to think, to this continue mean, yes, I stay they important cash, we obviously, for depending the on focused continue where it and

the sometimes -. it increased other. that focus And over tell last have we execute can I hopefully to But way quarters, on you will or result one few the the and this

John McPeake

all affecting Nice your increased guess, but adversary in that. love what you little edge focus that not nuclear adversary of I And I it kind bid hear of is last open production get would guys from has an potential on then just couple been the leading ended open to a - an just missiles question, miles of XXX at work kind production, to saying? is domestic question bit, business a there are cars. particularly of of trying States, ended on And United a

John Kibarian

will that I yes, John. Sure, take one

acts in additional multiple which have create U.S. United States, So would are U.S. is do remarks. I that know it factories, opportunities expanding leading my edge customers the not are And development us. impacting in I partly policy, that is also anticipate think, about locating that that in customers there prepared modes, specifically is and and government’s We billion, across just for $XX pass, the the we should that what the probably

prepared I’m the characterization complex like my is activity, government anticipated probably remarks, irrespective the Exensio on vehicles, customers prepared edge, government of and we enhanced remarks, by impacting, bookings think I technologies. up I activity. as see who for it said, That in bringing almost strong these being the of DFI, happening that continued integration said, is as and not but because leading the very XD the do we

John McPeake

I But had in there? what for has thanks, pass if leader So, and will any worked it question, the I guys. queue another get the along back

Operator

from comes question next your the And line you. of DA Thank from Davidson. Tom Diffely

now sir. Your line open, is

Thomas Diffely

little hoping Yes, a color. good afternoon. John, I get more was to

how about DFI, a before. I made of think you analytic an with the than more looking to than solution are at it customers comment

seeing looks what a Just more are you like? color DFI, and little on in what that opportunity

John Kibarian

of that with and it key the tune and would how asked gets all of styles capability because capability, the spots, that customers use Yes, figured to out series is, of the up. measuring way. efficiently. customers to unique the And the collecting active different analyzes seeing, layouts. the little a up to to on if products and Chinese careful is system us the DFI lots a different tens with team circuit, combination one were and millions and then product dependencies part using a a - inspect turn And drive of and a issues bring the This so called sure very seeing they can using of rates, do they question of kind issues fill our be the you layout product, that. learn you those of which on capability all designs really Tom. layout, of find the of on trying to helps are tremendous are by to the of manufacturing things of are very was process, what even be in of these too, design. design Fire of our combining create, the calculating the then is for a really technical huge of you any tremendous are to you Fire all one But be John helpful identifying go. these see process like other of part machine data you are very looks to we analyze we a in it XXD as and came is it seeing processes. these data product ways to ability take analyze a they given I in lot there statistics that are can’t And complex some it failure just This it to of particular go learning back amount going wafer, to layout literally deep how bring and in that of Exensio have on interactions machine you of problem What

Thomas Diffely

Okay.

or data So the to is thought -. keep though they you the try would to want and use service that more that going forward do big would internally data to analysis

John Kibarian

machines it at and up this, The because quite in - need is and that the overall to for and overall that computing down scale the basically of subscription. is be would machine up why to cloud substantially No. look you the all advantage hardware of onsite, software. is a dependencies, of these typical bundle cloud an big deployment using an part Exensio of there the plus always end being Exensio go And

combination. hardware deployment the also software a As cloud is

Thomas Diffely

Yes.

helpful, then at doing share mix when your the look And well, the do think thank margin impact quarters? the does the analytics gain in you. half, business couple meaningfully of the Okay. that That quite second structure, down, coming you you is of over next but,

Adnan Raza

Yes.

I it say. is think early to

obviously many our with confident bit your well, between quarters We To look, We feel will bit mix prepared margin. How a those I it heading XX%. little about hope precise better a as that deals. we on. on are towards said will think, depend remarks larger being not come it the is deals in we little have takes? point, it

that, rest flat up it incrementally for stays think is fair the year, it to best. maybe at of say the I

Thomas Diffely

you mentioned then expenses next that, there year the personnel the well? or obviously expected adder as Are the to personnel. And been costs over biggest also Okay. over last of quarters couple have in the increases

Adnan Raza

Yes.

So, it question. is great a

growing. investing we a but that a So doing, to at as goal are will seminar than going yes, be slower more, spending I well, rate be is revenue think we the talks do our what be we is will our little bit revenue,

cost more basis, than be then combined on OpEx we the you less look should spend trickles which a sales to the bottom So, with should revenue a spending bit line. together, growth, at hopefully of

Thomas Diffely

the the impressive a give obviously of Okay. for what finally Can sense duration us or And nice then the you is? backlog, of average length backlog. backlog some what the

Adnan Raza

of the of the the rest Majority majority of up timeframe, two two Yes. of the years. within over next contracts, the kind of the that backlog but to years, five-year and majority them next realization

Thomas Diffely

John. two, maybe recently, close you to you, little just much in harder done for interactions in last it over Okay. where that have at more changed quarters? still customer been And they traditionally then your is the When Are position deals look a you one person? some three of a the

John Kibarian

I had customers, calls we the did becoming I of used I business in-person to And Hey executive John way. pretty one the last Tom, got are now said, visit. natural. Yes, are question. One calls doing a number week this with

to is way this Now, go.

to starting last me close, did into for one date And will so deployment that, the way are do because probably past of confidence even quarter, figuring XXXXs. working sometime was second anticipate the XX we us out in how to in I middle the we years this way. sizeable making and out larger, this I better, over to work And see our this that the great think is that -- progress with better into data us contracts pretty complex China on carry I half are year of contract amazing the goes

share nodes have gain they on their who For and are circling the generating already from gain deployed. customer are that trick already seeing we a share up

contract I are had think yet difficult, and probably the remotely. that confidence most right, And and just that So, barriers we other some the able to some language was that close many things. we customer

feel our half year. this we in to do second about ability contracts of So, good more the complex close

Thomas Diffely

is Thanks Great. good time to that hear. today. for your

John Kibarian

you. Thank

Operator

Your Schwab you. Instructions] Craig question Thank Capital. of Christian comes next from from Hallum [Operator line the

is open. now line Your

Christian Schwab

quarter guys. Hi. Good

talking that A, many using to idea your In fact, big could how secondly, - to Can ramped us how Chinese you you manufacturers IYR. it about at you customer that a potential you And contract? get that over have the large customer of, Chinese like an and give new XX-year products? strengthen are sounds timeframe other, potentially drove

John Kibarian

Okay, reverse Christian. sure. order, will I thinking be

has in basis, technology generally of big deploy game provide and take don’t yields. our we a the there a customers two. China, us, invest them teams the means with been on on number system ramp So, on share on that them we going basis gain a And them to we are share part help because a basically, is

been few booking eight of share was would gain last year share number gain and So, the period, the we us on the up to their longer second then is take always part But off been order in there and contract, did is, trickle there of seen numbers This into have they this of selective we through we year liked. and have it, we on a good years, which range, have and of with confidence very gain which that XX-years. is, where a partner to in that did solutions as the get period, have half a deployment share the start some potential would early figure they we nodes, the than a gain working taken for years on seeing customers share prices, good a be is basis. gave

is substantial longer contract title But actually the a it quite of is than So, activity. XX-years. the

us is worth still how is of estimate. terms hard In eventually for Christian to that the contract much

terms to seeing some very, how with We have ramp in very there. customers Chinese get been we they have little of history historically but much they slow to volumes, very volume our improvements are

to I technologies think have past. manufacture as technology advancing ability in than as semiconductor the they their started they the more

Christian Schwab

type share, meaningful with - my could there you manufacturers the second guess anything you on give us could I other and is new is, sit, another Okay. if question you large with of potential with likes more to would where any of even that to other were And an is who get of partnering going there and customers update efficient - there, switch, manufacturing any on that Foundry out and update or happen make can kind that there Advantest need any the anything some manufacturers data be updates decided great. they

John Kibarian

it is you pretty consulting when the course. of Yes, It running knows in that. is of old super mean everyone catch-up you for manufacturer like Pittsburgh greater joke a the We say - large area. much

So, know in that been have quarter, first about in we customers, expect bookings already their careful the year. always we the in are customers a understand, have that with just activity, potential half ones both that why. And existing and That have opportunities. not, super the level said, my of I customers past, that to and not second you as customers with we those PDF customers, Chris year first broader about, companies we I historically have bookings big customers of in talk community both the said, we as the how some with have as tremendous prepared half increased PDF’s the reflect of well remarks, historically the been

Christian Schwab

Great. No questions. other

Operator

Thank you. [Operator Instructions].

comes question Samjo line from next Andrew of Capital. from the Wiener Your

now open. Your line is

Andrew Wiener

just to is that afternoon, wanted it quickly, I included Is Hi. One correctly. heard make DFI multi-node I the sure tool? John. pretty deal, Good Chinese

John Kibarian

that part well. are right DFI the had customer other that is have contract some tool as the onsite of to and contracts this There use they in that says of

Andrew Wiener

quick-start also then think you DFI Exensio. that I And Okay. was you referenced and a contract, said

a that is So, -. contract that

John Kibarian

vehicle as well. And Exensio

Andrew Wiener

contemplates that that tool customer. So a shifting the DFI contract of to

John Kibarian

Both correct.

while that get up negotiate we of there You a machine shipped in terms settlement. actually

Andrew Wiener

Okay.

associated with of contract your revenues significant that much are But a if discussions is again had quick-start heard correctly, technology it. so, deployment more that would that in the contract be And fair? about I you meaningful broader

John Kibarian

correct. That is

Andrew Wiener

Okay.

DEX the I goals going, about in either fit would that year, we of about didn’t call, about, is some to on you it as sort how deployments around Networks. of wanted talk DEX Maybe commercial and just transparency that far you adoption set lead but talk, and industry supply Networks you reliability this issues have to maybe driving can deployment your Secondarily, how broader chain driving some past ultimately commercial have talked that of mentioned the as for revenues. the this or in

John Kibarian

acronyms so with Yes, letter we obviously PDF. three here Sure. just always have

as be establish to expect can – Exchange we ability cached for quality let see a production we to real customers, to more get have who are refer models Network. second facilities, run run screening. like database. for get we as growing more able they up database, Data for you to number And on Those party we those. third element now don’t to that we actually those think want that advanced is outposts be got sets XX are an the more for has communications more as and under to of customers and them, they able a DEX was to business series are the and of where, those half out flawless that So of year, time and the run of this the This the rules, rules. been of are the, proportion, These then right testers. these me short-term they haven’t, grow our lives that as and now more done And this with put like quality, complex facilities that to on substantially evaluating primarily models ultimate test resident our software run we product But factories in things the to they their by suppliers produced. the equipment logic screening running chips and have

is with is much Some And compute on edge the have all shipping also compute that important our said with that edge box, are that is communicating the I becoming who this XX. very of for goal the between in And our already, compute involved test have we accepted activity now double I our is edge being an and to element. under about. as deployments kind year, over they of the this application Advantest, equipment community. think, it that cloud And is

to that Now double. see we like would about

Andrew Wiener

to Are sort today do certain of generating transitions or And from to what meaningful a you is driver to sales? of what, get revenue you commercial be that a Exensio need scale?

John Kibarian

great a Andrew. is question, That

cost have and for our fix with nodes, nodes it communicated tenant these the to deploy they operated by remarks way rollout a has data been So, that deploying past are relatively owned prepared I out quarter, many they as And And is there. multiple customers. might around lot in are the a and of they multi DEX PDF. in meaningful shift

plus of costs. plus of And is but that and piece it B is kind and as that more customers yes, there kind to to of is B you grow of get fixed more substantially, capacity a Y that big cost incremental that were to It quite So scale, i.e. and deploying X more they a system have there. some if that we that is do. shows

in And So part more more anticipate important is we a yes, offering. It generating today. revenue of that to us years. we cloud for more becomes coming the scale, our as and Exensio get overall generating

Andrew Wiener

Alright, thank great. you. Okay perfect

Operator

Mr. comes your Thank line the RiverPark. next Gary of Schnierow from is you. from And question

is line open, sir. now Your

Gary Schnierow

is I revenue DFI DFI was on context to your as moving guys, down, the DFI like, put that it it businesses the of and Hey, want today, follow-up CV big positively. you eProbes that was looks I and you like and also year-over-year. like how X.X and Can the think sounds million said, in it

you on that minute talking the on about a little of kind more equipment ago. give two explain and DFI where a color issues bit you were So, are those

John Kibarian

Sure Gary. Yes.

So, I will try to handle that.

of can the half deploy have have revenues of been year. the Characterization for of at bookings first we value relatively like quick-start you So period, in And of in parts of a When short in rolling lumpy those contracts the of quarter these half belief. half past this we you in standpoint kind and very look at the the second quick-start would, in The year, you the over the the was we large duration. revenue to our of time revenue. meaningful to the than half be overall the year that, versus is And have, first look from second the that are be a larger expect DFI of four the the systems booking up part substantially rec This that model if was lower a substantially we quarter. see result than a give year year. the a as a analytics revenue in anticipate

of type Exensio this As remarks, and and is of we software also Characterization the capability. hardware our the which Adnan’s prepared is capabilities, which includes hardware described really combination as a a IP infrastructure, well vehicles, DFI bundle infrastructure, vehicle as in characterization

So, I substantial say look year, bit revenue a of to decent and this point. stream piece anticipate half contract business that think bookings very out, time a at back next in timing just the we of you over on you the quite going growth first when this with on a are this see little year, let’s was

Gary Schnierow

Okay, great.

weighed the quarter lower first the you feed expect a On had continued bump the was the business IYR share. decline six half that the by same be the gain sounds line in the to in that At year to you than down IYR, of it half. a second like in time, from

the that gain that is fixed that the share just of to to and drop think off? a, business is at consistent continues the is So, way fee it pretty point

John Kibarian

their unique building way think starting there of contracts opportunities around legacy is in opportunities real that to older It is come years are up been it. a reasonable for to many, many there you think see end-of-life. We about some while is China. have some to that Roughly, the

Gary Schnierow

Got it.

Okay. Makes sense.

to in comfortably I it offset I’m it your growth analytics and get right, seems IYR guidance, than look to continued if should so, I that XX% growth. that at annual by that math, why the are Am if doing right? analytics And then greater be doing

John Kibarian

Yes.

You been a must have to math Yes. take high score.

Gary Schnierow

with I year, and growth higher the year this that, much analytics and are whenever this is the next fair year. the say recurring to should billings bookings given least consistent analytics so, it fact that, for growth, from growth And than not at is and nature accelerating so this be, assume rate year, relatively revenue

John Kibarian

Yes.

when I right this kind think, set I first we perspective executing think got from year. that Matthew that too, down did So, heads asked now, of question and our our are you and of

of we and of back how we times, are get gotten long-term the little in will for more question to and half our how because second a we look feel of like growth to XXXX. we are a going where number we to understand going we and come forecast going And the forecast then As bit analytics year, we your overall to have are go go model through refine numbers business. with lots

We have still it growth happy make always make better. to we to this the very like year, And to it better. been with always try tuning we are

year, get next for to with that more come we we this back year. as will height this you to So, around thoughts some

Gary Schnierow

Okay.

so Thanks much for Sounds time. great. the

Operator

a [Operator Instructions] John You follow-up have from the question line Securities. Mr. from of comes Rosenblatt McPeake

open, line sir. now is Your

John McPeake

connecting number, revenue we this get risk. the of Again, that, of are revenues these to the symmetric, some you a could that want of, but get on in dominated have I be have this record equipment customer number, base in have as infrastructure them only taking into We just any are had connects a by a that, to that may from calls you that running, seeing constraint. coming percentage to weren’t lot of or or guys able not but that relatively components, small Exensio, delivery we revenue component is cases, would kind

of much you that, business, your from part are right. particularly are analytics You pretty divorced the in

John Kibarian

on of not do of a On are that chips of the to everybody shift, companies I licensing time, short of And I we divorced be some companies ship every pieces generate were DFI our both runtime the provide semiconductor on equipment components to our of they otherwise know to watch number are equipment, need the the yes, providers Cimetrix, seen chips. our as have I that partners to meeting Cimetrix, chip Operations the that very who they would with companies that side, VP from impact the ship course business. largest of with capital chip in equipment, They well, one test impact and equipment and analytic fully customer chip, probably then ours. a test far and need can’t and of could equipment all greatly in them equipment of sell manufacturers I critical we revenue, our our think, business, we was runtime we and of of that we get from Because, license not we of test dialogues most side, to had we equipment, so have also in think the that it.

place an one seen corn. the the very, be it far, it it year. don’t haven’t think don’t so to not impact been sure impact within so Frankly, substantial second the and us is very expect I been that on So, has yet. runtime seed of has to in understanding we may there That on the we that see will eat the business make year-over-year, Cimetrix And we that we licenses. the half industry

John McPeake

you. Makes sense. Thank

Operator

I for no and to would Mr. queue. closing questions John like Sir. call you remarks. Kibarian Thank the on to over turn

John Kibarian

you participating Thank QX great talking Goodbye. Stay We soon. and our safe for with a call. have to again look you forward day. on

Operator

today’s concludes This conference call.

may now disconnect. You

PDF Solutions (PDFS) 11 Aug 212021 Q2 Earnings call transcript