PDFS - Earnings call transcript Q4 2021

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Operator

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

Joseph Diaz

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

at Investor is operator the I'm we're the for yet do indicated, on if name have of website Relations As release, Joseph a it's firm consulting available pdf.com. copy my Lytham Diaz. Partners, you not PDF, the today's Company's press

the for meaning call statements demand Some within of today. has no results, will on during PDF Reform and to Litigation conference this statements materially. differ regarding rates, financial call them. obligation are including to The The the Company the be of update information could Act made this future PDF performance, XXXX. Securities forward-looking growth Private its forward-looking based of and to referred solutions. statements risks on results available PDF's

the Company's year Form Risk to SEC You titled Factors I'd section Executive John filings. advised XX, Officer. With President, December ended open for ' Kibarian, Chief Raza, the and Officer. and will for your remarks, on call PDF the be disclosures of Adnan XX-K by Chief introduce President He And Financial that, XXXX. refer in are to management's similar conclusion At subsequent on Report the followed to will like Annual the Executive prepared Solutions Vice we fiscal questions.

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

John Kibarian

us for joining you on today's call. Thank

the has website full year, for posted. press Investors and to report the fourth seen the quarter earnings our If go our been and where section of already release you've not each please management

in is and celebrated our XXXX the in total the fourth we discuss stronger foundation record our have year quarter, to year XXXX we exciting tremendous establish more beyond. business Analytics where will business. a a laid and growth. for was XXth Also in In achieved Adnan that As detail, year business revenue,

today QX coming the providing progress we PDF what perspective So in continued for position summarizing the I gotten in believe year, provide journey, made point we and some XXXX, success. has for expectations long-term us this our to in will to and what addition will our on

our we [Indiscernible] for been manufacturing, in During consistent leader persistent a innovation. have XX-years, Analytics and demonstrating

have the that deep combining dedication our fundamental of We knowledge and team advanced application capabilities to of marketing years, products with customer including our has addition bring virtually selling solutions the else Besides company perspectives. a model. the longevity unique extended business over our everything team base, and manufacturing changed continuous members and strategy, of new by with and a Analytics, and

quality information competitive yield realized the our our with by the that many In to of that of integrated Analytics and was end what Yield market business, missing make scaling, we Yield Ramp that best characterization IYR XXXX, N provide we engineers that customers by For systems robust the geometry defined combining call we the years, enable business, waning. the IYR. our improvements. were foundry or accelerate Ramp, business By drivers

for of where that drive system broader from IBMs increasingly, by the fabs. the test notes, where software Many better their been analytics. Fabless software whether entire once drivers and our new edge ramping than manufacturing, control and foundries model, over years. and The business quality, chip fabrication slide many now a would the new tools managed is new much our customers deeper and engagement evolution use the is in by second benefit IYR XXX. Ramp They that every of systems. up yield particular, include customers the an now Today, of is companies our of and pay or applications New to not use of future is ramp as are over vast Where our majority cloud of the the part customers the XXXX the notes. data our the important tools that PDFS wafer base package equipment Cimetrix of new for communicate faster, to model founders still benefit companies quarters opportunities and the systems primarily systems unique and manufacturing primarily to of from and a control new use manufacturing just PDF third that demonstrate performance. and that believe are their qualify leading success had the Analytics offering, processing. revenue. evidenced nodes we to access Yield tied our control before. In for to However, we products the on-premise The availability business QX Analytics our their and and across subscriptions Development number customers of business the the aspect new of affect industry handful the cloud business customer from and XXXX. have and industry the making ratably in to these

However than our the were Analytics more substantially grew and XXXX, are majority industry for for of year-over-year, nodes. mature our products chip up that built bookings faster platform Exensio for Overall customers use revenues.

deployments our for and DFI edge. deliver the value from to of leading our systems that applications CV and increased we cloud As customers we

and equipment than equipment Our products software. advanced advance Cimetrix PDF Analytics also platform Cimetrix Exensio business synergy to The for market provide enables faster our the from as more companies communications new new of the for and and between grew the standards vendors options applications. process with control information better kinds

previous design we many runtime was Again, experienced Cimetrix our equipment software the on-premise in were convert XXXX. quarters. of fourth cloud CV a manufacturability In the with and also with to activity subscriptions apply bookings. they quarter, and for also significant customer. with We the another shipped the to important find our contributions stock business systems as trends contract anticipate edge the a tools. to we in time to extended quick their fourth Exensio license our leading applications. strong we This For OEMs our quarter, quick-start

to announced logic cloud we diagnostics which Stephens partnership product the further faster by with with our be up also Customers cause capabilities quarter, diagnostic entitlement During products. from and link products the will partnership IDA. as supply their leveraging module, [Indiscernible] bring to Exensio believe new our the introduction limited critical market will customers Tessent memory to Coupled and Siemens world. Advantest achieve leading root their on Exensio EDA use the able understanding Exensio and to on yields, are with we be able with Exensio

our December in partnership for webinar experienced January between at system for the and from had IDM, Exensio. collaboration engineers builds first IBM interoperability and strong our This Following on up on with Siemens our companies. and announcement, interest Sideview we fabless,

being that valuable from in Analytics an Our foundation IBM when the build is and as customers of world OEMs, integrated more stem our with PDF well each systems direct our in linked platform can of our customer on where the useful by We industry there Cimetrix as facility and Advantest, algorithms our assembly and partnerships, software nodes, for like of as and EDA equipment as is at with train data our the process nodes, other for is such Siemens, belief our customers techniques of our any all world semiconductor Analytics. the aid partnerships suppliers. products collaborative capability to mountains which owned of case when or new their processing, is the processing strong from conventional manufacturing also are inadequate. core It mature for all new open machinery to analytics, with MES. believe they're and are one They available besides that semiconductor

is Tier driving products anticipate particularly integrated demand in suppliers Fabs, Tier the of our continued is realizing in As OSATs demand This the We in carmakers all services. Analytics on the began robust interest XXXX, and PDF's system semiconductor from broad-based. environment suppliers. of cloud, we customers, and Governments’ and and supply fabless, X broad-based X chain. including all auto system remains platform, are companies importance companies, semiconductor equipment a for cross-section for circuits companies

in I XX% we reconfirmed annual rate. revenue Analyst And industry Out XXXX We set this. subsequently growth have a we the growth. long-term anticipate summarized, compound Given Day, we met growth target at Analytics just XX%, tailwinds continued in above of for analytics In revenue, also. for we new revenue for to bookings only strong due revenue not XXXX, target total to grow both company part XXXX bookings. XXXX, again momentum this anticipate in continued overall and

full anticipate levels XXXX, the year impact lower we For we second in that Gainshare of XXXX. the the see the concluded of contracts also year quarter as for Gainshare

revenue we years, continued total to take talk I we has in to in anticipate Analytics business the XX% stockholders, have target the full-year made confidence in this evolution want be this remind our what we customers, to implies Gainshare on XX% and I that contractors, our reflecting Overall, of with over our and meaningfully time XXXX experience culture. off expect started above year XX past eight reinforced our growing a over employees, years. decline the of again. growth Our this revenue growth. last

willing to customer PDF to serve aspect make of company, demonstrated Solutions have We just sure can our and that needs. we our able are reinvent every about

While reinventing stockholders. business, our and while we partners, to our employees, remain our values, to true respectful

business collection, manufacturing, For characterization, example, whole from model our all building years, serve cloth. assembly e-beam the a customers control, to ' while have developed ability SasS last we floor over these data test equipment and

key We see our one in and need. needs for solutions the believing our as critical we Executives accomplished our changes entire their make our a in why me can customers have going so accomplished and anticipation by deliver persistent them things sure the and reasons is could companies we they that team while to needs. be supplier. future This was tell of their the teammates new there these investment PDF for by of were welcoming customers anticipating at customers select advance this

future to present we solutions on both developing ' serve new build will our our forward, our while that capabilities differentiated ability enable needs. customers sustain adopting to us and will and Moving

an to our managed executing PDF in history in tight has to contractors employees the Finally, the concert, for their work and year. I thank revenue largest We of year want what bookings our during all efforts and been company. exceptional of

Now finances perspective his turn will our to review over I and provide who call the will on Adnan, business. the

Adnan Raza

of and John. you I are Good your all and you and a families you, afternoon, weekend. well Thank today, with great enjoyed hope Good football speak to again everyone.

year quarter pleased of the section results earnings in our review of for fourth We are Investor management report our and the website. posted the release We the financial to our full XXXX. and Relations

financials GAAP results will today's call the in be with will of website. provided auditors. reconciliation basis our GAAP March the our XX-K is the non by that in note on we filed with be Please Form and discuss - a review all to Our early after on results in final materials SEC financial a

indicated XXXX, $XX year As XX% a revenue record in million, of We million generated was Solutions. his a comments, year-over-year in increase. John XXXX strong for versus PDF $XXX

is were growth targets. share and revenue. business revenue decline share The bookings. $X.XX compared Analytics per XX% non-GAAP that. for prior in versus year-over-year XX% for well Earnings recall record noting remarkable came compensated and profitability in XX% in growth basis in XX% accounted more XXXX grew in gross was year for year outgrowing improvement. basis to at full far a on negative Non-GAAP expected of margin XXXX revenue the full per year. Analytics than $X.XX to it of Analytics of compared total While our at a in Bookings for XXXX a than of for a a revenues, the more XX% was that XXXX; XX% the Analytics is itself, growth $X.XX up excess on rate the year-over-year that year XX% increased IYR worth revenue

year just increased Our be versus us and into base and will Analytics as for for we faster XXXX, XX% believe long-term a to continue revenue total us, XXXX. confidence, give is our grow to grow The meaningful year. means in strong and which that increase sets XX% XXXX than growth for backlog also it backlog, more revenue XXXX that did bookings last target another beyond. full-year in We than expected at can model, total company

in and quarter, For QX. revenue up slightly a XX% year last in the basis sequential of quarter basis on the to for XXXX, Non-GAAP was XXXX. also margin from $XX.X better fourth from at a XX% sequential million total was revenue million, better $XX.X the QX, was up the million gross came from quarter XX%. Analytics on slightly and fourth $XX.X comparable quarter fourth

the comments. Turning full will back year to provide I XXXX, now detailed

so or revenue $XX.X million For the increased full XX% year of to Analytics XXXX.

to of provider the number global Analytics our Exensio overall that for to is be business. analytics leading XXXX. adopting component of cloud large now platform taking in semiconductor continue the trend transition our become supply look the software to Our customers The the is strong. hold, now chain continues We dominant over to

We has applications. was been contribution to are also able with Notably, the results complementary Analytics Cimetrix we revenue revenue strategic pleased for just the more standpoint, company year total drive are XXXX year. our to the capture From data learning ago. very from more the Symmetrix XXXX machine a Analytics than a the from full-year [Indiscernible] as

For down in as XXXX about revenue of million, represented from XXXX, million revenue. XX% IYR was $XX.X and $XX.X overall expected

XXXX decrease our our to IYR XXXX, expected. of expected, of calls, the their remains earnings we and as key to period large of contracts contributed year-over-year As end Analytics. some Gainshare company in from and focus of revenue IYR to mentioned XXXX came in The past the

possibilities XX% engagements those improvement. year, for Gainshare the we years. proud for for basis margin expansion backdrop to to throughout accomplished to margin model royalties, contributed revenue. via many revenue we opportunities capture XXX of future gross in end non-GAAP where However, high We're high-margin, select a our the point we an expense will XXXX XX.X% margin XXXX, that this increased from growth benefit of basis, shareholders against up the management long-term gross for On of initiatives and IVR as see us the

representing for a margins and full XXXX We which a gross increased achieving XX%, continue more to to and of primarily sales cloud million, costs growth of Bookings compared combination long-term of increased gross R&D Analyst both XX% target XXXX margin it. prior-year. of year top a full increased had Day, in the XX% operating shared remarkable of year totaled $XXX.X Cimetrix driven year as we carries booking and end totaled to business, during the path $XX.X growth driven to than the million XXXX, our where large our $XX majority expenses by up is XXXX. year Cimetrix XX% of for support year million, booking. increase Advantest up X.X on compared This to at high of million, the Backlog from XX% by to business. expenses the the expenses. Cost XXXX therefore the our the with carries of XX% SG&A the see

rules older For write-down prior year $X.X versus took the a as $X.X only. for CapEx the the equipment purposes year, GAAP million million totaled for we $X prior-generation for in required by million year.

flow, carefully For and the million, year, we $X.X revenues we as increased generated expenses. positive managed cash successfully

of We another are cash operating history. our flow with with pleased year positive generation consistent

to approximately equivalents the $XXX year million debt. quarter and to million ended sheet, cash we with balance prior of carry compared we the Turning $XXX and the no in

a $X the $X XXXX year. head robust into another uses with stock during $X.X well-positioned we made back terms XXXX off hold In funded major cash remaining approximately very business the we Coming of of for of paid buybacks million, for year, of solid approximately expenditures the million. million, acquisition, Cimetrix capital and performance,

As mentioned IYR just did full-year we in grow believe can in XXXX. we revenue grow expect revenue model that we than excess which experiencing XXXX, XX% long-term means I even of revenue earlier, Analytics a decline, while in to it as of faster our target total

revenues, can year make and the the years answer income in our contribution I gross expanding We our goal quarters can With to incremental and and into that, now margin, Operator and sales year. operating our remain our this gross Operator. sales With have spend platform gross of footprint to session. our the and profitable ahead. believe successfully our We growing positive another to committed turn manage believe cost of the commence to We coming resources we margin, can deliver and we question over embedded market marketing leading our also to customers. call progress we mass margins. to consistent margin of critical towards core Exensio expand shareholders XX% will our seek expanding for shift and

Operator

have you presenters. from our Strong And Thank Craig-Hallum. Instructions] [Operator from we Christian question first

sir. Your line is open

Tyler Burmeister

question Tyler for us thanks is the and this on couple letting questions. ask guys, a of Hey

of time your 'XX it In be First, QX. XX% in the was contracts that so will you the a previous be can contract wondering you this but sure I last guess any that's customer expect that called magnitude. you maybe helpful. make that signed revenue, significant want couple couple of you booked be quarters type with put the I contracts. to Would start quick point clarification, just customer with the here I if of multiyear over on we would and if then you can same customer? frame frame

John Kibarian

start previous the little Sure. hardware duration be a to previous smaller contract software a quick quick mix one, start, last bit to part, the with we similar in this a of similar This elements the the time but expect than follow-up size one. than the slightly and different was

terms very, comment talking really at that there careful there. one be XX% won't that specific about for so in about expect about are we XXXX. customers, -- one very least do we're customer In of always customer will us We

Tyler Burmeister

That's maybe modeling question. of the a And little great. color. Appreciate bit then a

I being down think, down. Your selling in or SG&A QX expense was mostly due XXX,XXX OpEx sequentially, or so, to

in or stay we invest look about wondering us levels 'XX, you R&D should at aware OpEx, of? if estimator help could just modestly we be As that for QX ramp things of to sort we there any that think in SG&A was Should growth, as one-time

Adnan Raza

comments, in to would profit expect margins From perspective, just a operating those No. alluded we expand. we like our

in so expenses, that I sales commented cost marketing side. we our we our can between manage also and sales that the would think more invest operating the and we of cost

growth increasing expect we the would rate, revenue Specifically thereby on operating than to less that spend, our margin. expand total the total

R&D and comfortable but we expanding are, I SG&A margins. towards continue to the will we're think the the On where feeling operating work spend, we

Tyler Burmeister

color. from Thanks. All That's right. That's guys. me, the great. I appreciate all

Operator

Instructions]. [Operator

our from Tom We go from next question Diffely have Davidson. D.A. ahead. Please

Tom Diffely

and basis afternoon for a for question. us little thanks on for like Good give detail or an bit Adnan, year. organic if was wondering could Yes. the the bookings revenue you I of things

Adnan Raza

Yeah.

the I a growth the of be that growth growth providing pretty to feel that, trends for Cimetrix But acquisitions is have Obviously, of color the first the in. coming is even -- is year. as pieces rest Gary, where impact. we're we business all full-year there's now think and we about that strong happy look, uplift the that this continues without the Exensio

bookings, of that terms In XX%. over is I we it the comment think made up

terms the In for made up of -- backlog, XX% comment we full-year that over the is basis. XX% around it

So John the good some can within maybe of and deals. two aggregate those feeling about also business, pretty numbers component the highlight

John Kibarian

Tom. point, Another

that's You a there. turns much really the than runtime the may our is license recognize mostly business, It that revenue right? Cimetrix bookings doesn't impact more

take from organic Symmetrix majority your that vast say you estimate the bookings the you'd subtract If the what of business. that were revenue, you declared as of from bookings, came

Tom Diffely

John. at through business at a initial that at set basis, Okay. Thank maintain when customer that will run a a what is DFI John, the a that you, current Also on go-forward look year? level, start on That's is the should the helpful. basis? a quick quarterly business you you be Are rate, ramping

John Kibarian

come it's exactly, know between our through lumpy I in this to third would going year, on. do we the say ramp expect that the second it through other quarters. way would Besides anticipate on. that have kind of Timing it customer, don't the We do year. the and it I We year. through activities linearly ramping

Tom Diffely

this do many between customers, think have end to traditional year? how field the you in And the by new your customers could Okay. of [Indiscernible] tools you

John Kibarian

we'll put would ability don't in think no at three our be installed the some place. world by by goal year. two this our be point But limited than to -- machines to in of have more end or we're I limited

Tom Diffely

largely older current now has Gainshare customers completely are Okay. due Gainshare and traditional the aging on the with finally And is your then just done you relatively -- customers? piece,

John Kibarian

year down. correct. up. to without right? That's but floor QX the previous previous is that roughly center, a your in as build prepared we the this slowly in Gainshare basis, we on level the said are historical we and on will contracts, back and QX it said call, be expect full we a And quarterly Because as saw remarks,

Tom Diffely

change more for at One look Okay. question the you When the in operating anything quickly. expansion, Adnan, DFI model? that does

Adnan Raza

decline the I revenue why the has is of all even Cimetrix seeing benefit pieces. edge on the the Exensio hearing feel that number impacting the about operating hearing another in the think you're of year. of Which starting as to for gross tone growth, IYR face two, this pieces. done should talking operating You're for of seeing us, business and profit is strong, basis, carry a our growing us then the in profitable And really expansion, we're from optimism are we and Number on full-year which why year is well margin to you're No, expenses well increased as one. confident leading therefore this

Tom Diffely

Great. you your time for both today. Thank

Adnan Raza

thing. Sure

Operator

Instructions]. [Operator

Richard from We ahead. from Gus have question next Northland. Please our go

Gus Richard

for Thanks the taking question. Yes.

the start quarter; component is you curious on signed quick there that? in DFI of the a Just contracts

John Kibarian

is -- for as for said, foundry This fabless DFM, interface. for we

software to IP it. not But So include and P DFI does design about a and it's really foundation primarily. characterization for That it's design just rules.

Gus Richard

Okay.

of it's thing? and So that sort CBs

John Kibarian

systems in IP for -analyses helps and IP foundation and the optimize a weaknesses layer that Exensio Yeah, that. there's pre and Exensio engineers of foundation looks

foundry So interface. around it's all geared fabless

Gus Richard

Okay, And then I understand. --

John Kibarian

[Indiscernible] to this, Gus.

Gus Richard

process And it's for? color node what then any on

John Kibarian

it which the think newer protected -- are the I of of node applied nodes. just to I kind don't Typically Yeah. that it is. these I don't customers of things think say confidentiality and course in can

Gus Richard

guys I'm seeing what there their need are fabs. seeing their spectrum, those anything help you clearing looking other productivity Okay. do there so, and can of from Edge demand? the then wondering is Exensio you're Got frequent fabs improve to helpful. any the very it. their That's that And just And end to at process out? and if

John Kibarian

across on think tabs, the customer and floors seeing but base. test this not we're test operations Sure, Guess the -- I I and Yes. on just the Sure. mean,

more go chips So trailing of within customers trailing our with probably the I considered for, or quarterly the SVP and roll of on across us, too, that look front-end call or to what's improve are more identify own We to new need as of from of of the you a on issues what acute more and that continue and the their equipment for with on extend ways ability a that were when kind test -- and run like deployments offers output was the facilities. and downtimes. capabilities technical they some would automotive you they on the prevent, and chips predictive things maintenance an Exensio their out out for that floor edge get can to one industrial And well on going that. where our edge review see scheduled the to that your does control two over operations be [Indiscernible] test process

is remarks, the And usage lot my being same prepared for So in into see business I XXXX, we Exensio majority expect that the part a a quite edge cloud guys. edge stuff. to vast as be as robust Exensio XXXX, trailing throughout looking lot the A said yeah. the were well. of trailing the that deals very of of We

a out to I more so get that's be help good assets. fabrication think continued to And productivity going customers opportunity

Gus Richard

write-down the any equipment just that then And Okay. around what was? more in color the quarter, of

John Kibarian

those with some as that all that that we those were the components part had of machines that in of field those had completed Yes. you of fifties usage We've the machines, the parts put and of we wrote associated spare machines, components extra we a down. purchased into number we one propane

Gus Richard

Thanks for Got much. it. it That's so me.

Operator

Samjo have Please Weiner question We Andrew Capital. Instructions] ahead. from [Operator next from our go

Andrew Wiener

guys. Hi, good afternoon,

John Kibarian

Andrew. Hey,

Andrew Wiener

increase about to XXXX like, want this I Adnan, of If like right? even through to XX% XX% half Analytics minimum thinking that a and I from of it the assume math growth the I correctly. 'XX business the habits of got math business. assume I a get back IYR take growth, rate of that of modest minimum run implies the or in a sort the sure, make on to

Adnan Raza

stealing few be calls his John's At must [Indiscernible] math yeah, the risk a of from good. comment really scores ago,

Andrew Wiener

or how I was second, you've you and then from whether any revenue contribution started opportunity I moat about Siemens we think And opportunities relationship; Whether it's and more when the about versus expect IBM should a think if Siemens partnerships. that, about John, talk not of you'd partnership maybe commercial to the the the perhaps. size could see not, the building hoping of a if

John Kibarian

Sure.

Siemens ability of leaders. revenue and we future the finalize we how they generates products January, and the set. new products. we and their customers they diagnostic were and is not that, the when what that in EDAs would associated with Siemens get in year roadmap is the They the beyond as beyond huge that So then bring those that. debug it revenue Siemens did this we some to version the influence access get product. beta of to Andrew, do to use revenue, small are full announced for terms in access the will [Indiscernible] join it so us. It's ' builder, up of webinar And or partners means market early and early having There a expect use we charge product, access customers for

of we And the so at webinar, when they the customers tell, in have, from companies can of is a look There were the overlap of there what largest attendees number we the good historically been that users parts a of And share but using companies that that were organization was it list diagnostic probably the Exensio not customers, were that the even the not previously Exensio of market. been Exensio then have on customers. tools.

same And the both as with new customer as for Siemens customers. base to expect our it existing as do within So well be we think will grow true customers well. I the

on we terms [Indiscernible] that heard webinar if engineers the brought what listen asked of the that about and, In Siemens we IBM -- you got questions comments up to call. the by

cloud, As the are days integrate and other. from of, with. on of go their of companies, used got my that systems what a them we goes work to comments working wave software greatly and look old fashioned not get with expect. but kind still people it's apps expect well the to of "Okay, IBM to other to " we on all The just now past. each partner own on as that phone do customers I've to together to work Customers systems what the about some make is of the work, in what it's not people expect, working software It's

really with the themselves, collaboration the configuration. way any data a thing box forth, those connection do the having that and we and circle to big same So by with the the engineers were, we I box? test questions Can integrations own partners this with our direct can call Siemens, And can and we and asked a get we're do Siemens job. back the those many off just the Sideview their graphics, does then more part dots results to might just Exensio Exensio -- of at And " on the the the can "Wow did of work that fire handled move and cloud, on of where more doing the our automatically pre when so we with without We out customers. Exensio, of IBM's in work And And I and background of in Exensio, the and back be? that the the with automatically that's the fault just IBM for of the see the that's really integrated make more click all software out snippets design I pass -integrated. look the and others.

Andrew Wiener

you What along in you holes So look view the sort would about to to potential would -- -- the partnership like of John, what a in lines, look partnerships from lot a past, the you building ecosystem. we've or talked be perspective, importance an XXXX? are those of fill

John Kibarian

Yeah. blow thunder Well want on don't I to any that stuff.

One But to the of when this. be them, excitement that them we'd things some able announce we to I say with can like announce Andrew.

that Am does my to Gus a just is drop If making out? questions ped, are, have add testers, more mean companies that? Will get floor parts lot my I going implication significantly would you be the I think about the ' a going me shipments? that and I a issues yield able of more bottlenecked, what's supply downstream? what's work, unit what on, more capacity my If ship alluded problem where is obviously, chain, test of way to my units. prediction, there's If what understanding as about if to,

customers research. So what we do with industrial able there's to or want lot operations have a of combined would engineering a engineering called to engineering from be semiconductor the

So then touches want a there that you in activities to of it's what lot finance. do

there IP. the too. are customers to look re-designed at understand a up in things. with of what diagnostics, product, When a lots you'd one impact -- products do a you product there's bringing is of across products redesigned we Most reused challenge to like lot wide product As have variety on

to ways questions being the answer all quickly. able of much So more

and library he up. out up could right? can I dinner and same when think parents have We takes corriander at [Indiscernible], his You library of it for something, debate to take this know nag My I Google the on go looked that kid as just go the stuff stuff. at Cilantro like was to my are to just cilantro so look I looks kid. thing, had a to and can I and as phone, would and a kids wanted the phone at searches of to I a me up

or have We them implication of chip same industrial the to wrangle manufacturing. -- having able off kinds engineering our our questions those to go engineer customers those and able data. want want answer that implications to be without So to financial and design implication, ask, whether be to questions they product

Andrew Wiener

the as And to that deployments networks? this tied DEX is of build Okay. out, the you

John Kibarian

do take got on means to you world it. It's want it's action. yes. these our enough -- know then changing say, take in be do you action would equipment. to Right okay, not you because this to criteria to have equipment that got exposed something goes in I well to just To where about course, I what different; screening change on or at my Of to want

why that ' So collaborate its way, for overall Advantest collaborate customers. lets of the the in this get but customers important productive a as that, of a do you And DEX is we out an capacity people with this How we're around so our at in the platform see industry that's And like part boundaries platform having to questions most time. that the which gets more ask world. Gus many us chips get operational cross environment. all can I

Andrew Wiener

you. Thank Great.

Operator

There Instructions] closing for [Operator are will no return Kibarian At further this I time Mr. questions. over the call remarks. to

John Kibarian

again with great QX in you for Thank day. look call. you Have a soon. our to We forward talking participating

Operator

Thank concludes participating. This gentlemen. presentation. Ladies and you for today's

disconnect. may You now

John Kibarian	President, Chief Executive Officer, Director and Co-Founder
Adnan Raza	Executive Vice President of Finance and Chief Financial Officer
Joseph Diaz	Lytham Partners, LLC
Tyler Burmeister	Craig-Hallum Capital Group
Tom Diffely	D.A. Davidson & Co.
Gus Richard	Northland Capital Markets
Andrew Weiner	Samjo Capital

PDF Solutions (PDFS) 16 Feb 222021 Q4 Earnings call transcript