Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 05, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | PDF SOLUTIONS INC | |
Entity Central Index Key | 1,120,914 | |
Trading Symbol | pdfs | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 32,274,543 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 96,788 | $ 101,267 |
Accounts receivable, net of allowance of $333 and $374, respectively | 52,744 | 57,564 |
Prepaid expenses and other current assets | 10,890 | 5,069 |
Total current assets | 160,422 | 163,900 |
Property and equipment, net | 34,120 | 25,386 |
Goodwill | 1,923 | 1,923 |
Intangible assets, net | 5,317 | 6,074 |
Deferred tax assets | 17,714 | 16,348 |
Other non-current assets | 8,163 | 10,545 |
Total assets | 227,659 | 224,176 |
Current liabilities: | ||
Accounts payable | 3,286 | 2,536 |
Accrued compensation and related benefits | 4,969 | 6,493 |
Accrued and other current liabilities | 4,386 | 2,627 |
Deferred revenues – current portion | 7,360 | 7,981 |
Billings in excess of recognized revenues | 669 | |
Total current liabilities | 20,670 | 19,637 |
Long-term income taxes payable | 4,140 | 3,902 |
Other non-current liabilities | 1,954 | 2,269 |
Total liabilities | 26,764 | 25,808 |
Commitments and contingencies (Note 9) | ||
Stockholders’ equity: | ||
Preferred stock, $0.00015 par value, 5,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common stock, $0.00015 par value, 70,000 shares authorized: shares issued 40,509 and 39,799, respectively; shares outstanding 32,257 and 32,112, respectively | 5 | 5 |
Additional paid-in-capital | 308,098 | 297,950 |
Treasury stock at cost, 8,252 and 7,688 shares, respectively | (78,752) | (71,793) |
Accumulated deficit | (27,337) | (27,089) |
Accumulated other comprehensive loss | (1,119) | (705) |
Total stockholders’ equity | 200,895 | 198,368 |
Total liabilities and stockholders’ equity | $ 227,659 | $ 224,176 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts receivable, allowance | $ 333 | $ 374 |
Preferred stock, par value (in dollars per share) | $ 0.00015 | $ 0.00015 |
Preferred stock, shares authorized (in shares) | 5,000 | 5,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.00015 | $ 0.00015 |
Common stock, shares authorized (in shares) | 70,000 | 70,000 |
Common stock, shares issued (in shares) | 40,509 | 39,799 |
Common stock, shares outstanding (in shares) | 35,257 | 32,112 |
Treasury stock, shares (in shares) | 8,252 | 7,688 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues: | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 20,213 | $ 26,517 | $ 66,069 | $ 75,094 |
Costs of Design-to-silicon-yield solutions: | ||||
Gross profit | 9,530 | 14,086 | 32,987 | 39,854 |
Operating expenses: | ||||
Research and development | 6,755 | 7,875 | 21,100 | 22,432 |
Selling, general and administrative | 5,507 | 5,680 | 17,801 | 17,775 |
Amortization of other acquired intangible assets | 108 | 107 | 326 | 291 |
Total operating expenses | 12,370 | 13,662 | 39,227 | 40,498 |
Income (loss) from operations | (2,840) | 424 | (6,240) | (644) |
Interest and other income (expense), net | 223 | (104) | 283 | (305) |
Income (loss) before income taxes | (2,617) | 320 | (5,957) | (949) |
Income tax benefit | (535) | (270) | (1,355) | (2,246) |
Net income (loss) | $ (2,082) | $ 590 | $ (4,602) | $ 1,297 |
Net income (loss) per share: | ||||
Basic (in dollars per share) | $ (0.06) | $ 0.02 | $ (0.14) | $ 0.04 |
Diluted (in dollars per share) | $ (0.06) | $ 0.02 | $ (0.14) | $ 0.04 |
Weighted average common shares: | ||||
Basic (in shares) | 32,184 | 32,078 | 32,105 | 32,060 |
Diluted (in shares) | 32,184 | 32,969 | 32,105 | 33,317 |
Net income (loss) | $ (2,082) | $ 590 | $ (4,602) | $ 1,297 |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustments, net of tax | (168) | 409 | (414) | 1,117 |
Comprehensive income (loss) | (2,250) | 999 | (5,016) | 2,414 |
License and Service [Member] | ||||
Revenues: | ||||
Revenue from Contract with Customer, Including Assessed Tax | 13,976 | 19,229 | 47,431 | 55,426 |
Costs of Design-to-silicon-yield solutions: | ||||
Direct costs of Design-to-silicon-yield solutions | 10,539 | 12,295 | 32,651 | 34,913 |
Amortization of acquired technology | 144 | 136 | 431 | 327 |
Total cost of Design-to-silicon-yield solutions | 10,683 | 12,431 | 33,082 | 35,240 |
Gainshare Performance Incentives [Member] | ||||
Revenues: | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 6,237 | $ 7,288 | $ 18,638 | $ 19,668 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (4,602) | $ 1,297 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 3,689 | 3,549 |
Stock-based compensation expense | 7,825 | 8,737 |
Amortization of acquired intangible assets | 757 | 618 |
Deferred taxes | (2,298) | (3,514) |
Loss on disposal of property and equipment | 4 | 5 |
Provision for (reversal of) allowance for doubtful accounts | (41) | 124 |
Unrealized loss (gain) on foreign currency forward contract | 59 | (6) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 5,654 | (4,921) |
Prepaid expenses and other current assets | (3,444) | (1,142) |
Accounts payable | (598) | 1,611 |
Accrued compensation and related benefits | (1,377) | (721) |
Accrued and other liabilities | (252) | (225) |
Deferred revenues | 632 | (682) |
Billings in excess of recognized revenues | 669 | 200 |
Other non-current assets | 2,367 | 1,331 |
Net cash provided by operating activities | 9,043 | 6,261 |
Cash flows from investing activities: | ||
Purchases of property and equipment | (8,747) | (6,942) |
Payments of business acquisitions, net of cash acquired | (3,841) | |
Net cash used in investing activities | (8,747) | (10,783) |
Cash flows from financing activities: | ||
Proceeds from exercise of stock options | 469 | 2,304 |
Repurchases of common stock | (5,248) | (13,418) |
Proceeds from employee stock purchase plan | 1,832 | 1,866 |
Payments for taxes related to net share settlement of equity awards | (1,711) | (2,439) |
Net cash used in financing activities | (4,658) | (11,687) |
Effect of exchange rate changes on cash and cash equivalents | (117) | 172 |
Net decrease in cash and cash equivalents | (4,479) | (16,037) |
Cash and cash equivalents, beginning of period | 101,267 | 116,787 |
Cash and cash equivalents, end of period | 96,788 | 100,750 |
Supplemental disclosure of cash flow information: | ||
Taxes | 1,616 | 1,876 |
Property and equipment received and accrued in accounts payable and accrued and other liabilities | 3,398 | 1,533 |
Tenant allowance paid by landlord for leasehold improvements | $ 1,536 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Basis of Presentation The interim unaudited condensed consolidated financial statements included herein have been prepared by PDF Solutions, Inc. (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), including the instructions to the Quarterly Report on Form 10 10 X. not may 10 December 31, 2017. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries after the elimination of all intercompany balances and transactions. The condensed consolidated balance sheet at December 31, 2017 not Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in these financial statements include significant estimates and judgments made in recognizing revenue, accounting for goodwill and intangible assets, stock-based compensation expense and accounting for income taxes. Actual results could differ from those estimates. For a discussion of significant estimates and judgments made in recognizing revenue under the new revenue standard, see Note 2. Recently Adopted Accounting Pronouncements In May 2014, No. 2014 09, 606 605 606, five first first 2018. 2. In August 2016, No. 2016 15, 230 December 15, 2017, January 1, 2018, not In November 2016, No. 2016 18, 230 December 15, 2017, January 1, 2018, not In January 2017, No. 2017 01, December 15, 2017. January 1, 2018, not In May 2017, No. 2017 09, 718 718. December 15, 2017. January 1, 2018, not Recent Accounting Standards or Updates Not In February 2016, No. 2016 02, 842 December 15, 2018, In January 2017, No. 2017 04, 350 2 December 15, 2019, not In February 2018, No. 2018 02, 220 December 2017. December 15, 2018 not In March 2018, 2018 05, 740 No. 118. December 22, 2017, 118 118 740 not one 5. |
Note 2 - Revenue Recognition
Note 2 - Revenue Recognition | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 2 . REVENUE RECOGNITION On January 1, 2018, 606, not January 1, 2018. 2018 606 not The Company also considered the impact of subtopic ASC 340 40. 606, 340 40, The most significant impacts of the adoption of Topic 606 ● At the adoption date, the Company recorded a net decrease of $4.4 606 605, January 1, 2018 $0.8 $1.9 $2.5 $0.5 ● For fiscal 2018, 606 605. 605 2018 three nine September 30, 2018 $0.5 The adoption of Topic 606 may 605 606 605. In addition, under the Company’s previous accounting practices, revenue was recognized from Gainshare performance incentive agreements in the period of receipt of related Gainshare acknowledgement reports, which was generally one 606, not Under Topic 605, 606, The following table summarizes the effects of adopting Topic 606 September 30, 2018: (In thousands) As reported under Topic 606 Adjustments Balances under Topic 605 Accounts receivable, net of allowance $ 52,744 $ 125 $ 52,869 Prepaid expenses and other current assets 10,890 (3,490 ) 7,400 Deferred tax assets 17,714 435 18,149 Other non-current assets 8,163 (28 ) 8,135 Deferred revenues – current portion 7,360 2,150 9,510 Long-term income taxes payable 4,140 (1,046 ) 3,094 Other non-current liabilities 1,954 616 2,570 Accumulated deficit $ (27,337 ) $ (4,679 ) $ (32,016 ) The Company’s net cash provided by operating activities for the three nine September 30, 2018 not 606. 606 nine September 30, 2018: (In thousands) As reported under Topic 606 Adjustments Balances under Topic 605 Net income (loss) $ (4,602 ) $ (325 ) $ (4,927 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Deferred taxes (2,298 ) (137 ) (2,435 ) Changes in operating assets and liabilities: Accounts receivable, net of allowance 5,654 (917 ) 4,737 Prepaid expenses and other current assets (3,444 ) 1,100 (2,344 ) Other non-current assets 2,367 28 2,395 Other accrued and long-term liabilities (252 ) 3 (249 ) Deferred revenue $ 632 $ 248 $ 880 The Company derives revenue from two Revenue is recognized when control of products or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those promised products or services. The Company determines revenue recognition through the following five ● Identification of the contract, or contracts, with a customer ● Identification of the performance obligations in the contract ● Determination of the transaction price ● Allocation of the transaction price to the performance obligations in the contract ● Recognition of revenue when, or as, performance obligations are satisfied The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company enters into contracts that can include various combinations of licenses, products and services, some of which are distinct and are accounted for as separate performance obligations. For contracts with multiple performance obligations, the Company allocates the transaction price of the contract to each performance obligation, generally on a relative basis using its standalone selling price. Nature of Products and Services Design-to-silicon-yield solutions — The Company recognizes revenue for each element of Design-to-silicon-yield solutions as follows: The Company generates a significant portion of its Design-to-silicon-yield solutions revenue from fixed-price solution implementation service contracts delivered over a specific period of time. Revenue under project–based contracts for solution implementation services is recognized as services are performed using a percentage-of-completion method based on costs or labor-hours inputs. Due to the nature of the work performed in these arrangements, the estimation of costs or hours at completion is complex, subject to many variables and requires significant judgment. Key factors reviewed by the Company to estimate costs to complete each contract are future labor and product costs and expected productivity efficiencies. If circumstances arise that change the original estimates of revenues, costs, or the extent of progress toward completion, revisions to the estimates are made. These revisions may On occasion, the Company includes its products as a component of its fixed-price service contracts. In such instances, the Company determines whether the services performed and products included are distinct. In most cases, the arrangement is a single performance obligation and therefore, follows the pattern of transfer as the service is provided. The Company applies a measure of progress (typically hours-to-hours or cost-to-cost) to any fixed consideration. As a result, revenue is generally recognized over the period the services are performed using percentage-of-completion method. This results in revenue recognition that corresponds with the value to the client of the services transferred to date relative to the remaining services promised. The Company also licenses our Design-for-Inspection ("DFI") system as a separate component of fixed-price service contracts. The Company allocates revenue to all deliverables based on their standalone selling prices, or SSP. In such instances, the Company applies judgment to estimate the range of SSPs for each performance obligation. The Company licenses some of its software products separately from solution implementations, primarily its Exensio software platform and related products. The majority of these products are delivered as on premise software licenses, while others can be delivered entirely or partially through Software-as-a-Service (SaaS) or cloud delivery models. Revenue from perpetual ( one Gainshare Performance Incentives — When the Company enters into a contract to provide yield improvement services, the contract usually includes two 1 2 The following table summarizes the effects of adopting Topic 606 three September 30, 2018: (In thousands) As reported under Topic 606 Adjustments Balances under Topic 605 Design-to-silicon-yield solutions $ 13,976 $ (522 ) $ 13,454 Total revenue 20,213 (522 ) 19,691 Gross margin 9,530 (522 ) 9,008 Selling, general and administrative 5,507 (49 ) 5,458 Total operating expenses 12,370 (49 ) 12,321 Income (loss) from operations (2,840 ) (473 ) (3,313 ) Income (loss) before taxes (2,617 ) (473 ) (3,090 ) Income tax benefit (535 ) (92 ) (627 ) Net loss $ (2,082 ) $ (381 ) $ (2,463 ) The following table summarizes the effects of adopting Topic 606 nine September 30, 2018: (In thousands) As reported under Topic 606 Adjustments Balances under Topic 605 Design-to-silicon-yield solutions $ 47,431 $ (539 ) $ 46,892 Total revenue 66,069 (539 ) 65,530 Gross margin 32,987 (539 ) 32,448 Selling, general and administrative 17,801 (122 ) 17,679 Total operating expenses 39,227 (122 ) 39,105 Income (loss) from operations (6,240 ) (417 ) (6,657 ) Income (loss) before taxes (5,957 ) (417 ) (6,374 ) Income tax benefit (1,355 ) (92 ) (1,447 ) Net loss $ (4,602 ) $ (325 ) $ (4,927 ) Disaggregation of revenue In accordance with ASC 606 10 50, The following table shows the revenues from contracts with customers by the nature of transactions for the three nine September 30, 2018: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Product and licenses $ 7,729 $ 22,044 Support and services 11,905 43,095 Other 579 930 Total $ 20,213 $ 66,069 Product and licenses include a portion of time-based software which is recognized in the period, perpetual software, and Gainshare performance incentives. The remaining portions of revenue from these contracts correspond to services or other types of performance obligations reported as either services revenue or other revenue. Under Topic 606, 59% 41% three September 30, 2018, 66% 34% nine September 30, 2018, 59% 58% three nine September 30, 2018, 63% 58% three nine September 30, 2017, 7. Significant Judgments More judgments and estimates are required under Topic 606 605. 606 may may In services arrangements, the Company typically satisfies the performance obligation and recognizes revenue over time. In Design-to-silicon-yield service arrangements, the performance obligation is satisfied over time either because the client controls the asset as it is created (e.g., when the asset is built at the customer site) or because the Company’s performance does not For revenue under project–based contracts for fixed-price solution implementation services, revenue is recognized as services are performed using a percentage-of-completion method based on costs or the labor-hours input method, whichever is the most appropriate measure of the progress towards completion of the contract. Due to the nature of the work performed in these arrangements, the estimation of percentage-of-completion is complex, subject to many variables and requires significant judgment. Key factors reviewed by the Company to estimate costs to complete each contract are future labor and product costs and expected productivity efficiencies. If circumstances arise that change the original estimates of revenues, costs, or extent of progress toward completion, revisions to the estimates are made. These revisions may The Company’s contracts with customers often include promises to transfer products, licenses and services, including professional services, technical support services, and rights to unspecified updates to a customer. Determining whether products, licenses and services are distinct performance obligations that should be accounted for separately, or are not not not may one may The Company is required to record Gainshare royalty revenue in the same period in which the usage occurs. Because the Company generally does not Contract Balances The Company performs its obligation under a contract with a customer by transferring products or services in exchange for consideration from the customer. The timing of the Company’s performance often differs from the timing of the customer’s payment, which results in the recognition of a receivable, a contract asset, or a contract liability. The Company classifies the right to consideration in exchange for products or services transferred to a client as either a receivable or a contract asset. A receivable is a right to consideration that is unconditional as compared to a contract asset which is a right to consideration that is conditional upon factors other than the passage of time. The majority of the Company’s contract assets represent unbilled amounts related to fixed-price solution implementation service contracts when the costs or labor-hours input method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the client, and the right to consideration is subject to milestone completion or client acceptance. The contract assets are generally classified as current and are recorded on a net basis with deferred revenue (i.e. contract liabilities) at the contract level. The contract assets are included in prepaid expenses and other current assets in the condensed consolidated balance sheets. At September 30, 2018 January 1, 2018, $3.1 $1.9 twelve $0.3 $0.9 September 30, 2018 January 1, 2018. During the three nine September 30, 2018, $4.4 $12.0 606, 2018. At September 30, 2018, $38.7 2 5 not not one Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 90 not not The amount of revenue recognized in the three nine September 30, 2018 $1.3 $1.6 Costs to obtain or fulfill a contract The Company capitalizes the incremental costs to obtain or fulfill a contract with a customer, including direct sales commissions and related fees, when it expects to recover those costs. As a result, these costs will need to be capitalized and amortized over an appropriate period, which may not not September 30, 2018, $0.4 $0.1 $0.3 three nine September 30, 2018, no no no $0.4 $0.6 September 30, 2018 December 31, 2017, |
Note 3 - Balance Sheet Componen
Note 3 - Balance Sheet Components | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 3. Accounts receivable include amounts that are unbilled at the end of the period that are expected to be billed and collected within a 12 $22.7 $22.2 September 30, 2018, December 31, 2017, not 12 $6.4 $8.6 September 30, 2018 December 31, 2017, Property and equipment, net consists of (in thousands): September 30, December 31, (Dollars in thousands) 2018 2017 Computer equipment $ 10,446 $ 10,729 Software 4,121 3,348 Furniture, fixtures and equipment 4,420 3,676 Leasehold improvements 5,573 1,980 Test equipment 14,694 13,796 Construction-in-progress 17,928 12,527 57,182 46,056 Less: accumulated depreciation and amortization (23,062 ) (20,670 ) Total $ 34,120 $ 25,386 Test equipment includes some DFI assets at customer sites that are contributing to DFI solution revenues. The construction-in-progress balance as of September 30, 2018 December 31, 2017 $5.6 $1.2 $1.3 three September 30, 2018 2017, $3.7 $3.5 nine September 30, 2018 2017, As of both September 30, 2018, December 31, 2017, $1.9 Intangible assets balance was $5.3 $6.1 September 30, 2018, December 31, 2017, September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Amortization Gross Net Gross Net Period Carrying Accumulated Carrying Carrying Accumulated Carrying (Dollars in thousands) (Years) Amount Amortization Amount Amount Amortization Amount Customer relationships 1 - 9 $ 6,740 $ (4,421 ) $ 2,319 $ 6,740 $ (4,145 ) $ 2,595 Developed technology 4 - 6 15,820 (13,261 ) 2,559 15,820 (12,829 ) 2,991 Tradename 2 - 4 790 (641 ) 149 790 (622 ) 168 Patent 7 - 10 1800 (1,510 ) 290 1,800 (1,480 ) 320 Total $ 25,150 $ (19,833 ) $ 5,317 $ 25,150 $ (19,076 ) $ 6,074 The weighted average remaining amortization period for acquired identifiable intangible assets was 6.1 September 30, 2018. three nine September 30, 2018, $0.3 $0.8 three nine September 30, 2017, $0.2 $0.6 Year ending December 31, Amount 2018 (remaining three months) $ 253 2019 1,009 2020 1,009 2021 833 2022 626 2023 and thereafter 1,587 Total future amortization expense $ 5,317 Intangible assets are amortized over their useful lives unless these lives are determined to be indefinite. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not three nine September 30, 2018, no |
Note 4 - Stockholders' Equity
Note 4 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | 4. Stock-based compensation is estimated at the grant date based on the award’s fair value and is recognized on a straight-line basis over the vesting periods, generally four . Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Costs of Design-to-silicon-yield solutions $ 787 $ 1,184 $ 2,768 $ 3,445 Research and development 725 877 2,449 2,558 Selling, general and administrative 756 888 2,608 2,734 Stock-based compensation expenses $ 2,268 $ 2,949 $ 7,825 $ 8,737 On September 30, 2018, Stock Plans — November 16, 2011, 2011 four May 31, 2017, 2011 “2011 2011 may 7,800,000 3,500,000 2001 1.33 no ten four As of September 30, 2018, 9,600,000 2011 4.0 2011 0.5 2001 2011 September 30, 2018. September 30, 2018, no 2011 2001 2001 The Company estimated the fair value of share-based awards granted under the 2011 Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Expected life (in years) 4.43 4.41 4.43 4.41 Volatility 44.01 % 41.49 % 43.82 % 41.53 % Risk-free interest rate 2.73 % 1.65 % 2.71 % 1.69 % Expected dividend - - - - Weighted average fair value per share of options granted during the period $ 4.21 $ 5.78 $ 4.22 $ 6.14 The Company granted 87,000 three September 30, 2018. Stock option activity under the Company’s Stock Plans during the nine September 30, 2018 Number of Options (in thousands) Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Outstanding, January 1, 2018 1,045 $ 9.65 Granted (weighted average fair value of $4.22 per share) 98 $ 10.71 Exercised (68 ) $ 6.88 Canceled or expired (30 ) $ 13.84 Outstanding, September 30, 2018 1,045 $ 9.81 4.64 $ 1,422 Vested and expected to vest, September 30, 2018 1,039 $ 9.77 4.59 $ 1,422 Exercisable, September 30, 2018 806 $ 8.60 3.31 $ 1,422 The aggregate intrinsic value in the table above represents the total intrinsic value based on the Company’s closing stock price of $9.03 September 30, 2018. nine September 30, 2018 $0.3 As of September 30, 2018, $1.1 3.0 $0.3 nine September 30, 2018. Restricted stock unit activity during the nine September 30, 2018 Shares (in thousands) Weighted Average Grant Date Fair Value Per Share Outstanding, January 1, 2018 1,617 $ 15.66 Granted 113 $ 10.70 Vested (440 ) $ 15.73 Forfeited (116 ) $ 15.21 Outstanding, September 30, 2018 1,174 $ 15.21 As of September 30, 2018, $14 2.2 not Employee Stock Purchase Plan July 2001, ten 10% 85% twenty-four four six six January 1 1 675,000 2 2% 3 May 18, 2010, May 17, 2020. The Company estimated the fair value of purchase rights granted under the ESPP during the period using the Black-Scholes-Merton option-pricing model with the following weighted average assumptions, resulting in the following weighted average fair values: Nine Months Ended September 30, 2018 2017 Expected life (in years) 1.25 1.25 Volatility 42.85 % 40.63 % Risk-free interest rate 2.48 % 1.25 % Expected dividend — — Weighted average fair value per share of options granted during the period $ 3.62 $ 5.22 During the three September 30, 2018 2017, 92,345 99,550 $8.925 $9.53 nine September 30, 2018 2017, 200,704 199,827 $9.12 $9.33 September 30, 2018, $1.7 1.83 September 30, 2018, 4.7 Stock Repurchase Program May 29, 2018, 2016 2018 $25.0 two three nine September 30, 2018, zero 437,007 2016 2018 September 30, 2018, 1,279,189 $14.59 2016 $18.7 2018 September 30, 2018, $25.0 |
Note 5 - Income Taxes
Note 5 - Income Taxes | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 5. Income tax benefit decreased by $0.9 nine September 30, 2018 $1.3 $2.2 nine September 30, 2017. 2.27% 236.7% nine September 30, 2018 2017, nine September 30, 2018, 2017, 35% 21%. The Company’s total amount of unrecognized tax benefits, excluding interest and penalties, as of September 30, 2018, $12.9 $7.6 December 31, 2017, $12.9 $7.7 September 30, 2018, $2.9 $10.7 $5.3 The valuation allowance was approximately $9.4 $9.1 September 30, 2018, December 31, 2017, not not The Company is required to assess whether it is more-likely-than- not not not In December 2017, No. 118, 118 not one fourth 2017, no 2017 10 Effective January 1, 2018, 1 2 first 2018, The Company conducts business globally and, as a result, files numerous consolidated and separate income tax returns in the U.S. including federal and various states, and foreign jurisdictions. Because the Company used some of the tax attributes carried forward from previous years to tax years that are still open, statutes of limitation remain open for all tax years to the extent of the attributes carried forward into tax year 2002 not |
Note 6 - Net Income Per Share
Note 6 - Net Income Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 6. Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding for the period (excluding outstanding stock options and shares subject to repurchase). Diluted net income per share is computed using the weighted-average number of common shares outstanding for the period plus the potential effect of dilutive securities that are convertible into common shares (using the treasury stock method), except in cases in which the effect would be anti-dilutive. The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share (in thousands except per share amount): Three Months Nine Months Ended September 30, Ended September 30, 2018 2017 2018 2017 Numerator: Net income (loss) $ (2,082 ) $ 590 $ (4,602 ) $ 1,297 Denominator: Basic weighted-average common shares outstanding 32,184 32,078 32,105 32,060 Effect of dilutive options and restricted stock - 891 - 1,257 Diluted weighted average shares outstanding 32,184 32,969 32,105 33,317 Net income (loss) per share - Basic $ (0.06 ) $ 0.02 $ (0.14 ) $ 0.04 Net income (loss) per share - Diluted $ (0.06 ) $ 0.02 $ (0.14 ) $ 0.04 For the three nine September 30, 2018, no The following table sets forth potential shares of common stock that are not Three Months Nine Months Ended September 30, Ended September 30, 2018 2017 2018 2017 Outstanding stock options - 211 - 109 Nonvested restricted stock units - 15 - 12 Employee Stock Purchase Plan - 68 - 42 Total - 294 - 163 |
Note 7 - Customer and Geographi
Note 7 - Customer and Geographic Information | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 7. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker, the chief executive officer, reviews discrete financial information presented on a consolidated basis for purposes of regularly making operating decisions and assessing financial performance. Accordingly, the Company considers itself to be in one The Company had revenues from individual customers in excess of 10% Three Months Nine Months Ended September 30, Ended September 30, Customer 2018 2017 2018 2017 A 38 % 38 % 39 % 41 % The Company had gross accounts receivable from individual customers in excess of 10% September 30, December 31, Customer 2018 2017 A 41 % 41 % B 19 % 15 % Revenues from customers by geographic area based on the location of the customers’ work sites are as follows (in thousands): Three Months Ended September 30, 2018 2017 Revenues Percentage of Revenues Revenues Percentage of Revenues United States $ 8,366 41 % $ 9,750 37 % China 4,644 23 % 6,452 24 % Taiwan 936 5 % 2,414 9 % Rest of the world 6,267 31 % 7,901 30 % Total revenue $ 20,213 100 % $ 26,517 100 % Nine Months Ended September 30, 2018 2017 Revenues Percentage of Revenues Revenues Percentage of Revenues United States $ 27,430 42 % $ 30,610 41 % China 14,186 21 % 12,891 17 % Taiwan 4,109 6 % 9,894 13 % Rest of the world 20,344 31 % 21,699 29 % Total revenue $ 66,069 100 % $ 75,094 100 % Long-lived assets, net by geographic area are as follows (in thousands): September 30, December 31, 2018 2017 United States $ 33,690 $ 24,883 Rest of the world 430 503 Total long-lived assets, net $ 34,120 $ 25,386 |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 8. Fair value is the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The multiple assumptions used to value financial instruments are referred to as inputs, and a hierarchy for inputs used in measuring fair value is established, that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. These inputs are ranked according to a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three Level 1 Inputs are quoted prices in active markets for identical assets or liabilities. Level 2 Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not Level 3 Inputs are derived from valuation techniques in which one The following table represents the Company’s assets measured at fair value on a recurring basis as of September 30, 2018, As of September 30, 2018 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets Total (Level 1) (Level 2) (Level 3) Money market mutual funds $ 26,934 $ 26,934 $ — $ — The following table represents the Company’s assets measured at fair value on a recurring basis as of December 31, 2017, As of December 31, 2017 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets Total (Level 1) (Level 2) (Level 3) Money market mutual funds $ 26,638 $ 26,638 $ — $ — The Company enters into foreign currency forward contracts to reduce the exposure to foreign currency exchange rate fluctuations on certain foreign currency denominated monetary assets and liabilities, primarily on third not not three September 30, 2018 2017, $0.1 $0.2 nine September 30, 2018 2017, $0.5 $0.7 The Company carries these derivatives financial instruments on its Condensed Consolidated Balance Sheets at their fair values. The Company’s foreign currency forward contracts are classified as Level 2 not September 30, 2018, one $8.1 $47,000 December 31, 2017, one $8.2 $12,000 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. Leases The Company leases administrative and sales offices and certain equipment under noncancelable operating leases, which contain various renewal options and, in some cases, require payment of common area costs, taxes and utilities. These operating leases expire at various times through 2028. $0.6 three September 30, 2018 2017, $1.9 $1.6 nine September 30, 2018 2017, Future minimum lease payments under noncancelable operating leases at September 30, 2018 Year ending December 31, Amount 2018 (remaining three months) $ 357 2019 1,659 2020 1,813 2021 1,654 2022 1,483 2023 and thereafter 4,799 Total future minimum lease payments $ 11,765 In April 2018, 20,800 ten September 1, 2018. $7.3 $0.4 $1.5 Indemnifications 90 third not Purchase obligations September 30, 2018, $10.0 15 Indemnification of Officers and Directors In addition, the Bylaws of the Company provide that the Company is required to indemnify its officers and directors even when indemnification would otherwise be discretionary, and the Company is required to advance expenses to its officers and directors as incurred in connection with proceedings against them for which they may may not Litigation September 30, 2018, not no no |
Note 10 - Subsequent Event
Note 10 - Subsequent Event | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 10. Restructuring On September 27, 2018, October 24, 2018. $1.2 $2.3 fourth 2018 first 2019. fourth 2018 2019. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The interim unaudited condensed consolidated financial statements included herein have been prepared by PDF Solutions, Inc. (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), including the instructions to the Quarterly Report on Form 10 10 X. not may 10 December 31, 2017. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries after the elimination of all intercompany balances and transactions. The condensed consolidated balance sheet at December 31, 2017 not |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in these financial statements include significant estimates and judgments made in recognizing revenue, accounting for goodwill and intangible assets, stock-based compensation expense and accounting for income taxes. Actual results could differ from those estimates. For a discussion of significant estimates and judgments made in recognizing revenue under the new revenue standard, see Note 2. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In May 2014, No. 2014 09, 606 605 606, five first first 2018. 2. In August 2016, No. 2016 15, 230 December 15, 2017, January 1, 2018, not In November 2016, No. 2016 18, 230 December 15, 2017, January 1, 2018, not In January 2017, No. 2017 01, December 15, 2017. January 1, 2018, not In May 2017, No. 2017 09, 718 718. December 15, 2017. January 1, 2018, not Recent Accounting Standards or Updates Not In February 2016, No. 2016 02, 842 December 15, 2018, In January 2017, No. 2017 04, 350 2 December 15, 2019, not In February 2018, No. 2018 02, 220 December 2017. December 15, 2018 not In March 2018, 2018 05, 740 No. 118. December 22, 2017, 118 118 740 not one 5. |
Note 2 - Revenue Recognition (T
Note 2 - Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | (In thousands) As reported under Topic 606 Adjustments Balances under Topic 605 Accounts receivable, net of allowance $ 52,744 $ 125 $ 52,869 Prepaid expenses and other current assets 10,890 (3,490 ) 7,400 Deferred tax assets 17,714 435 18,149 Other non-current assets 8,163 (28 ) 8,135 Deferred revenues – current portion 7,360 2,150 9,510 Long-term income taxes payable 4,140 (1,046 ) 3,094 Other non-current liabilities 1,954 616 2,570 Accumulated deficit $ (27,337 ) $ (4,679 ) $ (32,016 ) (In thousands) As reported under Topic 606 Adjustments Balances under Topic 605 Net income (loss) $ (4,602 ) $ (325 ) $ (4,927 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Deferred taxes (2,298 ) (137 ) (2,435 ) Changes in operating assets and liabilities: Accounts receivable, net of allowance 5,654 (917 ) 4,737 Prepaid expenses and other current assets (3,444 ) 1,100 (2,344 ) Other non-current assets 2,367 28 2,395 Other accrued and long-term liabilities (252 ) 3 (249 ) Deferred revenue $ 632 $ 248 $ 880 (In thousands) As reported under Topic 606 Adjustments Balances under Topic 605 Design-to-silicon-yield solutions $ 13,976 $ (522 ) $ 13,454 Total revenue 20,213 (522 ) 19,691 Gross margin 9,530 (522 ) 9,008 Selling, general and administrative 5,507 (49 ) 5,458 Total operating expenses 12,370 (49 ) 12,321 Income (loss) from operations (2,840 ) (473 ) (3,313 ) Income (loss) before taxes (2,617 ) (473 ) (3,090 ) Income tax benefit (535 ) (92 ) (627 ) Net loss $ (2,082 ) $ (381 ) $ (2,463 ) (In thousands) As reported under Topic 606 Adjustments Balances under Topic 605 Design-to-silicon-yield solutions $ 47,431 $ (539 ) $ 46,892 Total revenue 66,069 (539 ) 65,530 Gross margin 32,987 (539 ) 32,448 Selling, general and administrative 17,801 (122 ) 17,679 Total operating expenses 39,227 (122 ) 39,105 Income (loss) from operations (6,240 ) (417 ) (6,657 ) Income (loss) before taxes (5,957 ) (417 ) (6,374 ) Income tax benefit (1,355 ) (92 ) (1,447 ) Net loss $ (4,602 ) $ (325 ) $ (4,927 ) |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Product and licenses $ 7,729 $ 22,044 Support and services 11,905 43,095 Other 579 930 Total $ 20,213 $ 66,069 |
Note 3 - Balance Sheet Compon_2
Note 3 - Balance Sheet Components (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, December 31, (Dollars in thousands) 2018 2017 Computer equipment $ 10,446 $ 10,729 Software 4,121 3,348 Furniture, fixtures and equipment 4,420 3,676 Leasehold improvements 5,573 1,980 Test equipment 14,694 13,796 Construction-in-progress 17,928 12,527 57,182 46,056 Less: accumulated depreciation and amortization (23,062 ) (20,670 ) Total $ 34,120 $ 25,386 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | September 30, 2018 December 31, 2017 Amortization Gross Net Gross Net Period Carrying Accumulated Carrying Carrying Accumulated Carrying (Dollars in thousands) (Years) Amount Amortization Amount Amount Amortization Amount Customer relationships 1 - 9 $ 6,740 $ (4,421 ) $ 2,319 $ 6,740 $ (4,145 ) $ 2,595 Developed technology 4 - 6 15,820 (13,261 ) 2,559 15,820 (12,829 ) 2,991 Tradename 2 - 4 790 (641 ) 149 790 (622 ) 168 Patent 7 - 10 1800 (1,510 ) 290 1,800 (1,480 ) 320 Total $ 25,150 $ (19,833 ) $ 5,317 $ 25,150 $ (19,076 ) $ 6,074 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ending December 31, Amount 2018 (remaining three months) $ 253 2019 1,009 2020 1,009 2021 833 2022 626 2023 and thereafter 1,587 Total future amortization expense $ 5,317 |
Note 4 - Stockholders' Equity (
Note 4 - Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Costs of Design-to-silicon-yield solutions $ 787 $ 1,184 $ 2,768 $ 3,445 Research and development 725 877 2,449 2,558 Selling, general and administrative 756 888 2,608 2,734 Stock-based compensation expenses $ 2,268 $ 2,949 $ 7,825 $ 8,737 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Expected life (in years) 4.43 4.41 4.43 4.41 Volatility 44.01 % 41.49 % 43.82 % 41.53 % Risk-free interest rate 2.73 % 1.65 % 2.71 % 1.69 % Expected dividend - - - - Weighted average fair value per share of options granted during the period $ 4.21 $ 5.78 $ 4.22 $ 6.14 Nine Months Ended September 30, 2018 2017 Expected life (in years) 1.25 1.25 Volatility 42.85 % 40.63 % Risk-free interest rate 2.48 % 1.25 % Expected dividend — — Weighted average fair value per share of options granted during the period $ 3.62 $ 5.22 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Options (in thousands) Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Outstanding, January 1, 2018 1,045 $ 9.65 Granted (weighted average fair value of $4.22 per share) 98 $ 10.71 Exercised (68 ) $ 6.88 Canceled or expired (30 ) $ 13.84 Outstanding, September 30, 2018 1,045 $ 9.81 4.64 $ 1,422 Vested and expected to vest, September 30, 2018 1,039 $ 9.77 4.59 $ 1,422 Exercisable, September 30, 2018 806 $ 8.60 3.31 $ 1,422 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Shares (in thousands) Weighted Average Grant Date Fair Value Per Share Outstanding, January 1, 2018 1,617 $ 15.66 Granted 113 $ 10.70 Vested (440 ) $ 15.73 Forfeited (116 ) $ 15.21 Outstanding, September 30, 2018 1,174 $ 15.21 |
Note 6 - Net Income Per Share (
Note 6 - Net Income Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Nine Months Ended September 30, Ended September 30, 2018 2017 2018 2017 Numerator: Net income (loss) $ (2,082 ) $ 590 $ (4,602 ) $ 1,297 Denominator: Basic weighted-average common shares outstanding 32,184 32,078 32,105 32,060 Effect of dilutive options and restricted stock - 891 - 1,257 Diluted weighted average shares outstanding 32,184 32,969 32,105 33,317 Net income (loss) per share - Basic $ (0.06 ) $ 0.02 $ (0.14 ) $ 0.04 Net income (loss) per share - Diluted $ (0.06 ) $ 0.02 $ (0.14 ) $ 0.04 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Nine Months Ended September 30, Ended September 30, 2018 2017 2018 2017 Outstanding stock options - 211 - 109 Nonvested restricted stock units - 15 - 12 Employee Stock Purchase Plan - 68 - 42 Total - 294 - 163 |
Note 7 - Customer and Geograp_2
Note 7 - Customer and Geographic Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Three Months Nine Months Ended September 30, Ended September 30, Customer 2018 2017 2018 2017 A 38 % 38 % 39 % 41 % |
Receivables by Major Customers [Table Text Block] | September 30, December 31, Customer 2018 2017 A 41 % 41 % B 19 % 15 % |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Three Months Ended September 30, 2018 2017 Revenues Percentage of Revenues Revenues Percentage of Revenues United States $ 8,366 41 % $ 9,750 37 % China 4,644 23 % 6,452 24 % Taiwan 936 5 % 2,414 9 % Rest of the world 6,267 31 % 7,901 30 % Total revenue $ 20,213 100 % $ 26,517 100 % Nine Months Ended September 30, 2018 2017 Revenues Percentage of Revenues Revenues Percentage of Revenues United States $ 27,430 42 % $ 30,610 41 % China 14,186 21 % 12,891 17 % Taiwan 4,109 6 % 9,894 13 % Rest of the world 20,344 31 % 21,699 29 % Total revenue $ 66,069 100 % $ 75,094 100 % |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | September 30, December 31, 2018 2017 United States $ 33,690 $ 24,883 Rest of the world 430 503 Total long-lived assets, net $ 34,120 $ 25,386 |
Note 8 - Fair Value Measureme_2
Note 8 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | As of September 30, 2018 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets Total (Level 1) (Level 2) (Level 3) Money market mutual funds $ 26,934 $ 26,934 $ — $ — As of December 31, 2017 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets Total (Level 1) (Level 2) (Level 3) Money market mutual funds $ 26,638 $ 26,638 $ — $ — |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year ending December 31, Amount 2018 (remaining three months) $ 357 2019 1,659 2020 1,813 2021 1,654 2022 1,483 2023 and thereafter 4,799 Total future minimum lease payments $ 11,765 |
Note 2 - Revenue Recognition (D
Note 2 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jan. 01, 2018 | Dec. 31, 2017 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (27,337) | $ (27,337) | $ (27,089) | |||
Capitalized Contract Cost, Net, Total | $ 500 | |||||
Revenue from Contract with Customer, Including Assessed Tax | 20,213 | $ 26,517 | 66,069 | $ 75,094 | ||
Contract with Customer, Liability, Noncurrent | 300 | 300 | 900 | |||
Contract with Customer, Liability, Revenue Recognized | 4,400 | 12,000 | ||||
Revenue, Remaining Performance Obligation, Amount | 38,700 | 38,700 | ||||
Contract with Customer, Performance Obligation Satisfied in Previous Period | 1,300 | 1,600 | ||||
Capitalized Contract Cost, Amortization | 100 | 300 | ||||
Capitalized Contract Cost, Impairment Loss | 0 | 0 | ||||
Prepaid Expenses and Other Current Assets [Member] | ||||||
Contract with Customer, Asset, Net, Current, Total | 3,100 | 3,100 | 1,900 | |||
Prepaid Expenses and Other Current Assets and Other Non-current Assets [Member] | ||||||
Deferred Costs, Total | $ 400 | $ 400 | $ 600 | |||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Transferred over Time [Member] | ||||||
Concentration Risk, Percentage | 59.00% | 66.00% | ||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Transferred at Point in Time [Member] | ||||||
Concentration Risk, Percentage | 41.00% | 34.00% | ||||
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 20,213 | $ 26,517 | $ 66,069 | $ 75,094 | ||
Concentration Risk, Percentage | 100.00% | 100.00% | 100.00% | 100.00% | ||
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | Countries other than the United States [Member] | ||||||
Concentration Risk, Percentage | 59.00% | 63.00% | 58.00% | 58.00% | ||
Accounting Standards Update 2014-09 [Member] | ||||||
Retained Earnings (Accumulated Deficit), Ending Balance | (4,400) | |||||
Accounts Receivable, Net, Total | 800 | |||||
Contract with Customer, Asset, Net, Total | 1,900 | |||||
Contract with Customer, Liability, Total | $ (2,500) | |||||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (4,679) | $ (4,679) | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ (522) | $ (539) |
Note 2 - Revenue Recognition -
Note 2 - Revenue Recognition - Adoption of ASC 606 (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jan. 01, 2018 | Dec. 31, 2017 | |
Accounts receivable, net of allowance | $ 52,744 | $ 52,744 | $ 57,564 | |||
Prepaid expenses and other current assets | 10,890 | 10,890 | 5,069 | |||
Deferred tax assets | 17,714 | 17,714 | 16,348 | |||
Other non-current assets | 8,163 | 8,163 | 10,545 | |||
Deferred revenues – current portion | 7,360 | 7,360 | 7,981 | |||
Long-term income taxes payable | 4,140 | 4,140 | 3,902 | |||
Other non-current liabilities | 1,954 | 1,954 | 2,269 | |||
Accumulated deficit | (27,337) | (27,337) | $ (27,089) | |||
Net income (loss) | (2,082) | $ 590 | (4,602) | $ 1,297 | ||
Deferred taxes | (2,298) | (3,514) | ||||
Accounts receivable, net of allowance | 5,654 | (4,921) | ||||
Prepaid expenses and other current assets | (3,444) | (1,142) | ||||
Other non-current assets | 2,367 | 1,331 | ||||
Other accrued and long-term liabilities | (252) | (225) | ||||
Deferred revenue | 632 | |||||
Revenues | 20,213 | 26,517 | 66,069 | 75,094 | ||
Gross margin | 9,530 | 14,086 | 32,987 | 39,854 | ||
Selling, general and administrative | 5,507 | 5,680 | 17,801 | 17,775 | ||
Total operating expenses | 12,370 | 13,662 | 39,227 | 40,498 | ||
Income (loss) from operations | (2,840) | 424 | (6,240) | (644) | ||
Income (loss) before taxes | (2,617) | 320 | (5,957) | (949) | ||
Income tax benefit | (535) | (270) | (1,355) | (2,246) | ||
Accounting Standards Update 2014-09 [Member] | ||||||
Accumulated deficit | $ (4,400) | |||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | ||||||
Accounts receivable, net of allowance | 125 | 125 | ||||
Prepaid expenses and other current assets | (3,490) | (3,490) | ||||
Deferred tax assets | 435 | 435 | ||||
Other non-current assets | (28) | (28) | ||||
Deferred revenues – current portion | 2,150 | 2,150 | ||||
Long-term income taxes payable | (1,046) | (1,046) | ||||
Other non-current liabilities | 616 | 616 | ||||
Accumulated deficit | (4,679) | (4,679) | ||||
Net income (loss) | (381) | (325) | ||||
Deferred taxes | (137) | |||||
Accounts receivable, net of allowance | (917) | |||||
Prepaid expenses and other current assets | 1,100 | |||||
Other non-current assets | 28 | |||||
Other accrued and long-term liabilities | 3 | |||||
Deferred revenue | 248 | |||||
Revenues | (522) | (539) | ||||
Gross margin | (522) | (539) | ||||
Selling, general and administrative | (49) | (122) | ||||
Total operating expenses | (49) | (122) | ||||
Income (loss) from operations | (473) | (417) | ||||
Income (loss) before taxes | (473) | (417) | ||||
Income tax benefit | (92) | (92) | ||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||||||
Accounts receivable, net of allowance | 52,869 | 52,869 | ||||
Prepaid expenses and other current assets | 7,400 | 7,400 | ||||
Deferred tax assets | 18,149 | 18,149 | ||||
Other non-current assets | 8,135 | 8,135 | ||||
Deferred revenues – current portion | 9,510 | 9,510 | ||||
Long-term income taxes payable | 3,094 | 3,094 | ||||
Other non-current liabilities | 2,570 | 2,570 | ||||
Accumulated deficit | (32,016) | (32,016) | ||||
Net income (loss) | (2,463) | (4,927) | ||||
Deferred taxes | (2,435) | |||||
Accounts receivable, net of allowance | 4,737 | |||||
Prepaid expenses and other current assets | (2,344) | |||||
Other non-current assets | 2,395 | |||||
Other accrued and long-term liabilities | (249) | |||||
Deferred revenue | 880 | |||||
Revenues | 19,691 | 65,530 | ||||
Gross margin | 9,008 | 32,448 | ||||
Selling, general and administrative | 5,458 | 17,679 | ||||
Total operating expenses | 12,321 | 39,105 | ||||
Income (loss) from operations | (3,313) | (6,657) | ||||
Income (loss) before taxes | (3,090) | (6,374) | ||||
Income tax benefit | (627) | (1,447) | ||||
License and Service [Member] | ||||||
Revenues | 13,976 | $ 19,229 | 47,431 | $ 55,426 | ||
License and Service [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | ||||||
Revenues | (522) | (539) | ||||
License and Service [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||||||
Revenues | $ 13,454 | $ 46,892 |
Note 2 - Revenue Recognition _2
Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues | $ 20,213 | $ 26,517 | $ 66,069 | $ 75,094 |
License [Member] | ||||
Revenues | 7,729 | 22,044 | ||
Service [Member] | ||||
Revenues | 11,905 | 43,095 | ||
Product and Service, Other [Member] | ||||
Revenues | $ 579 | $ 930 |
Note 3 - Balance Sheet Compon_3
Note 3 - Balance Sheet Components (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Unbilled Receivables, Current | $ 22,700 | $ 22,700 | $ 22,200 | ||
Unbilled Receivables, Not Billable, Amount Expected to be Collected after Next Twelve Months | 6,400 | 6,400 | 8,600 | ||
Property, Plant and Equipment, Gross, Ending Balance | 57,182 | 57,182 | 46,056 | ||
Depreciation, Depletion and Amortization, Nonproduction, Total | 1,200 | $ 1,300 | 3,700 | $ 3,500 | |
Goodwill, Ending Balance | 1,923 | 1,923 | 1,923 | ||
Finite-Lived Intangible Assets, Net, Ending Balance | 5,317 | $ 5,317 | 6,074 | ||
Finite-Lived Intangible Assets, Remaining Amortization Period | 6 years 36 days | ||||
Amortization of Intangible Assets, Total | 300 | $ 200 | $ 757 | $ 618 | |
Impairment of Intangible Assets, Finite-lived | 0 | 0 | |||
Leasehold Improvements [Member] | |||||
Property, Plant and Equipment, Gross, Ending Balance | $ 5,573 | $ 5,573 | $ 1,980 |
Note 3 - Balance Sheet Compon_4
Note 3 - Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Property and equipment, gross | $ 57,182 | $ 46,056 |
Less: accumulated depreciation and amortization | (23,062) | (20,670) |
Total | 34,120 | 25,386 |
Computer Equipment [Member] | ||
Property and equipment, gross | 10,446 | 10,729 |
Software and Software Development Costs [Member] | ||
Property and equipment, gross | 4,121 | 3,348 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | 4,420 | 3,676 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 5,573 | 1,980 |
Test Equipment [Member] | ||
Property and equipment, gross | 14,694 | 13,796 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 17,928 | $ 12,527 |
Note 3 - Balance Sheet Compon_5
Note 3 - Balance Sheet Components - Intangible Assets (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Gross Carrying Amount | $ 25,150 | $ 25,150 |
Accumulated Amortization | (19,833) | (19,076) |
Intangible assets, net | 5,317 | 6,074 |
Customer Relationships [Member] | ||
Gross Carrying Amount | 6,740 | 6,740 |
Accumulated Amortization | (4,421) | (4,145) |
Intangible assets, net | $ 2,319 | 2,595 |
Customer Relationships [Member] | Minimum [Member] | ||
Amortization Period (Year) | 1 year | |
Customer Relationships [Member] | Maximum [Member] | ||
Amortization Period (Year) | 9 years | |
Developed Technology Rights [Member] | ||
Gross Carrying Amount | $ 15,820 | 15,820 |
Accumulated Amortization | (13,261) | (12,829) |
Intangible assets, net | $ 2,559 | 2,991 |
Developed Technology Rights [Member] | Minimum [Member] | ||
Amortization Period (Year) | 4 years | |
Developed Technology Rights [Member] | Maximum [Member] | ||
Amortization Period (Year) | 6 years | |
Trade Names [Member] | ||
Gross Carrying Amount | $ 790 | 790 |
Accumulated Amortization | (641) | (622) |
Intangible assets, net | $ 149 | 168 |
Trade Names [Member] | Minimum [Member] | ||
Amortization Period (Year) | 2 years | |
Trade Names [Member] | Maximum [Member] | ||
Amortization Period (Year) | 4 years | |
Patents [Member] | ||
Gross Carrying Amount | $ 1,800 | 1,800 |
Accumulated Amortization | (1,510) | (1,480) |
Intangible assets, net | $ 290 | $ 320 |
Patents [Member] | Minimum [Member] | ||
Amortization Period (Year) | 7 years | |
Patents [Member] | Maximum [Member] | ||
Amortization Period (Year) | 10 years |
Note 3 - Balance Sheet Compon_6
Note 3 - Balance Sheet Components - Annual Amortization of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
2018 (remaining three months) | $ 253 | |
2,019 | 1,009 | |
2,020 | 1,009 | |
2,021 | 833 | |
2,022 | 626 | |
2023 and thereafter | 1,587 | |
Total future amortization expense | $ 5,317 | $ 6,074 |
Note 4 - Stockholders' Equity_2
Note 4 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions | May 31, 2017 | Oct. 25, 2016 | Jul. 31, 2001 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2001 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 30,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 1,045,000 | 1,045,000 | 1,045,000 | 1,045,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 87,000 | 98,000 | ||||||||
Share Price | $ 9.03 | $ 9.03 | $ 9.03 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 0.3 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 0.3 | |||||||||
Stock Repurchase Program, Authorized Amount | $ 25 | |||||||||
Stock Repurchase Program, Period in Force | 2 years | |||||||||
Treasury Stock, Shares, Acquired | 0 | 437,007 | 1,279,189 | |||||||
Treasury Stock Acquired, Average Cost Per Share | $ 14.59 | |||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 18.7 | |||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 25 | $ 25 | 25 | |||||||
Employee Stock Option [Member] | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | 1.1 | $ 1.1 | 1.1 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years | |||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 14 | $ 14 | $ 14 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 73 days | |||||||||
Twenty Eleven Stock Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 7,800,000 | |||||||||
Share Based Compensation Arrangement By Share Based Payment Award Shares Reserved Decrease Rate | 1.33 | |||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 9,600,000 | 9,600,000 | 9,600,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 4,000,000 | 4,000,000 | 4,000,000 | |||||||
Twenty Eleven Stock Incentive Plan [Member] | Employee Stock Option [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||||||||
Shares Previously Issued Under the 2001 Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,500,000 | |||||||||
Two Thousand One Stock Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 500,000 | |||||||||
Outside of the 2011, 2001 or IDS Plans [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 0 | 0 | 0 | |||||||
Employee Stock Purchase Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 1.7 | $ 1.7 | $ 1.7 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 302 days | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | |||||||||
ESPP Maximum Annual Share Replenishment | 675,000 | |||||||||
ESPP Maximum Annual Share Replenishment Percentage of Prior Year Outstanding Company Common Stock | 2.00% | |||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 92,345 | 99,550 | 200,704 | 199,827 | ||||||
Employee Stock Purchase Plan Weighted Average Purchase Price of Shares Purchased | $ 8.925 | $ 9.53 | $ 9.12 | $ 9.33 | ||||||
Number Of ESPP Shares Available For Future Issuance | 4,700,000 | 4,700,000 | 4,700,000 |
Note 4 - Stockholders' Equity -
Note 4 - Stockholders' Equity - Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Allocation of recognized period costs | $ 2,268 | $ 2,949 | $ 7,825 | $ 8,737 |
Cost of Sales [Member] | ||||
Allocation of recognized period costs | 787 | 1,184 | 2,768 | 3,445 |
Research and Development Expense [Member] | ||||
Allocation of recognized period costs | 725 | 877 | 2,449 | 2,558 |
Selling, General and Administrative Expenses [Member] | ||||
Allocation of recognized period costs | $ 756 | $ 888 | $ 2,608 | $ 2,734 |
Note 4 - Stockholders' Equity_3
Note 4 - Stockholders' Equity - Stock Options, Valuation Assumptions (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Weighted average fair value (in dollars per share) | $ 4.22 | |||
Stock Plans [Member] | ||||
Expected life (Year) | 4 years 156 days | 4 years 149 days | 4 years 156 days | 4 years 149 days |
Volatility | 44.01% | 41.49% | 43.82% | 41.53% |
Risk-free interest rate | 2.73% | 1.65% | 2.71% | 1.69% |
Expected dividend | 0.00% | 0.00% | ||
Weighted average fair value (in dollars per share) | $ 4.21 | $ 5.78 | $ 4.22 | $ 6.14 |
Employee Stock Purchase Plan [Member] | ||||
Expected life (Year) | 1 year 91 days | 1 year 91 days | ||
Volatility | 42.85% | 40.63% | ||
Risk-free interest rate | 2.48% | 1.25% | ||
Expected dividend | 0.00% | 0.00% | ||
Weighted average fair value (in dollars per share) | $ 3.62 | $ 5.22 |
Note 4 - Stockholders' Equity_4
Note 4 - Stockholders' Equity - Stock Options Activity (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2018USD ($)$ / sharesshares | Sep. 30, 2018USD ($)$ / sharesshares | |
Outstanding (in shares) | shares | 1,045,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 9.65 | |
Granted (in shares) | shares | 87,000 | 98,000 |
Granted, weighted average exercise price (in dollars per share) | $ / shares | $ 10.71 | |
Exercised (in shares) | shares | (68,000) | |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 6.88 | |
Canceled or expired (in shares) | shares | (30,000) | |
Canceled or expired, weighted average exercise price (in dollars per share) | $ / shares | $ 13.84 | |
Outstanding (in shares) | shares | 1,045,000 | 1,045,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 9.81 | $ 9.81 |
Outstanding, weighted average remaining term (Year) | 4 years 233 days | |
Outstanding, intrinsic value | $ | $ 1,422 | $ 1,422 |
Vested and expected to vest (in shares) | shares | 1,039,000 | 1,039,000 |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ / shares | $ 9.77 | $ 9.77 |
Vested and expected to vest, weighted average remaining term (Year) | 4 years 215 days | |
Vested and expected to vest, intrinsic value | $ | $ 1,422 | $ 1,422 |
Exercisable (in shares) | shares | 806,000 | 806,000 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 8.60 | $ 8.60 |
Exercisable, weighted average remaining term (Year) | 3 years 113 days | |
Exercisable, intrinsic value | $ | $ 1,422 | $ 1,422 |
Note 4 - Stockholders' Equity_5
Note 4 - Stockholders' Equity - Stock Options Activity (Details) (Parentheticals) | 9 Months Ended |
Sep. 30, 2018$ / shares | |
Weighted average fair value (in dollars per share) | $ 4.22 |
Note 4 - Stockholders' Equity_6
Note 4 - Stockholders' Equity - Nonvested Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Outstanding (in shares) | shares | 1,617 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 15.66 |
Granted (in shares) | shares | 113 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 10.70 |
Vested (in shares) | shares | (440) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 15.73 |
Forfeited (in shares) | shares | (116) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 15.21 |
Outstanding (in shares) | shares | 1,174 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 15.21 |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Increase (Decrease) in Income Taxes | $ (900) | |||||
Income Tax Expense (Benefit), Total | $ (535) | $ (270) | $ (1,355) | $ (2,246) | ||
Effective Income Tax Rate Reconciliation, Percent, Total | 2.27% | 236.70% | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | |||||
Unrecognized Tax Benefits, Ending Balance | 12,900 | $ 12,900 | $ 12,900 | |||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 7,600 | 7,600 | 7,700 | |||
Unrecognized Tax Benefits In Long Term Liabilities | 2,900 | 2,900 | ||||
Unrecognized Tax Benefits In Deferred Tax Assets | 10,700 | 10,700 | ||||
Unrecognized Tax Benefits In Deferred Tax Asset Subject To Full Valuation Allowance | 5,300 | 5,300 | ||||
Deferred Tax Assets, Valuation Allowance, Total | $ 9,400 | $ 9,400 | $ 9,100 | |||
Scenario, Forecast [Member] | ||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 6 - Net Income Per Share -
Note 6 - Net Income Per Share - Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Numerator: | ||||
Net income (loss) | $ (2,082) | $ 590 | $ (4,602) | $ 1,297 |
Basic weighted-average common shares outstanding (in shares) | 32,184 | 32,078 | 32,105 | 32,060 |
Effect of dilutive options and restricted stock (in shares) | 891 | 1,257 | ||
Diluted weighted average shares outstanding (in shares) | 32,184 | 32,969 | 32,105 | 33,317 |
Net income (loss) per share - Basic (in dollars per share) | $ (0.06) | $ 0.02 | $ (0.14) | $ 0.04 |
Net income (loss) per share - Diluted (in dollars per share) | $ (0.06) | $ 0.02 | $ (0.14) | $ 0.04 |
Note 6 - Net Income Per Share_2
Note 6 - Net Income Per Share - Anti-dilutive Securities (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Anti-dilutive securities (in shares) | 294 | 163 | ||
Employee Stock Option [Member] | ||||
Anti-dilutive securities (in shares) | 211 | 109 | ||
Restricted Stock Units (RSUs) [Member] | ||||
Anti-dilutive securities (in shares) | 15 | 12 | ||
Employee Stock Purchase Plan [Member] | ||||
Anti-dilutive securities (in shares) | 68 | 42 |
Note 7 - Customer and Geograp_3
Note 7 - Customer and Geographic Information (Details Textual) | 9 Months Ended |
Sep. 30, 2018 | |
Number of Operating Segments | 1 |
Note 7 - Customer and Geograp_4
Note 7 - Customer and Geographic Information - Revenue Percentage by Major Customers (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Customer A [Member] | ||||
Receivables percentage by major customer | 38.00% | 38.00% | 39.00% | 41.00% |
Note 7 - Customer and Geograp_5
Note 7 - Customer and Geographic Information - Receivables Percentage by Major Customers (Details) - Customer Concentration Risk [Member] - Accounts Receivable [Member] | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Customer A [Member] | ||
Receivables percentage by major customer | 41.00% | 41.00% |
Customer B [Member] | ||
Receivables percentage by major customer | 19.00% | 15.00% |
Note 7 - Customer and Geograp_6
Note 7 - Customer and Geographic Information - Revenues by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 20,213 | $ 26,517 | $ 66,069 | $ 75,094 |
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 20,213 | $ 26,517 | $ 66,069 | $ 75,094 |
Concentration Risk, Percentage | 100.00% | 100.00% | 100.00% | 100.00% |
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | UNITED STATES | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 8,366 | $ 9,750 | $ 27,430 | $ 30,610 |
Concentration Risk, Percentage | 41.00% | 37.00% | 42.00% | 41.00% |
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | CHINA | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 4,644 | $ 6,452 | $ 14,186 | $ 12,891 |
Concentration Risk, Percentage | 23.00% | 24.00% | 21.00% | 17.00% |
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | TAIWAN, PROVINCE OF CHINA | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 936 | $ 2,414 | $ 4,109 | $ 9,894 |
Concentration Risk, Percentage | 5.00% | 9.00% | 6.00% | 13.00% |
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | Rest of the World [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 6,267 | $ 7,901 | $ 20,344 | $ 21,699 |
Concentration Risk, Percentage | 31.00% | 30.00% | 31.00% | 29.00% |
Note 7 - Customer and Geograp_7
Note 7 - Customer and Geographic Information - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Long-lived assets | $ 34,120 | $ 25,386 |
UNITED STATES | ||
Long-lived assets | 33,690 | 24,883 |
Rest of the World [Member] | ||
Long-lived assets | $ 430 | $ 503 |
Note 8 - Fair Value Measureme_3
Note 8 - Fair Value Measurements (Details Textual) - Foreign Exchange Contract [Member] - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | |
Derivative Asset, Notional Amount | $ 8,100,000 | $ 8,100,000 | $ 8,200,000 | |||
Other Current Assets [Member] | ||||||
Derivative Asset, Current | $ 47,000 | $ 12,000 | ||||
Other Nonoperating Income (Expense) [Member] | ||||||
Derivative, Gain (Loss) on Derivative, Net, Total | $ (100,000) | $ 200,000 | $ (500,000) | $ 700,000 |
Note 8 - Fair Value Measureme_4
Note 8 - Fair Value Measurements - Fair Value, Assets Measured on a Recurring Basis (Details) - Money Market Funds [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Money market mutual funds | $ 26,934 | $ 26,638 |
Fair Value, Inputs, Level 1 [Member] | ||
Money market mutual funds | 26,934 | 26,638 |
Fair Value, Inputs, Level 2 [Member] | ||
Money market mutual funds | ||
Fair Value, Inputs, Level 3 [Member] | ||
Money market mutual funds |
Note 9 - Commitments and Cont_3
Note 9 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 01, 2018 | |
Operating Leases, Rent Expense, Net, Total | $ 600 | $ 600 | $ 1,900 | $ 1,600 | |
Operating Leases, Future Minimum Payments Due, Total | 11,765 | 11,765 | |||
Purchase Obligation, Due in Next Twelve Months | $ 10,000 | ||||
Loss Contingency Accrual, Ending Balance | $ 0 | $ 0 | |||
Lease in Santa Clara, California [Member] | |||||
Lessee, Operating Lease, Term of Contract | 10 years | ||||
Operating Leases, Future Minimum Payments Due, Total | $ 7,300 | ||||
Operating Lease, Abatement Allowance | 400 | ||||
Operating Lease, Tenant Improvement Allowance | $ 1,500 |
Note 9 - Commitments and Cont_4
Note 9 - Commitments and Contingencies - Future Minimum Lease Payments Under Noncancelable Operating Leases (Details) $ in Thousands | Sep. 30, 2018USD ($) |
2018 (remaining three months) | $ 357 |
2,019 | 1,659 |
2,020 | 1,813 |
2,021 | 1,654 |
2,022 | 1,483 |
2023 and thereafter | 4,799 |
Total future minimum lease payments | $ 11,765 |
Note 10 - Subsequent Event (Det
Note 10 - Subsequent Event (Details Textual) - Subsequent Event [Member] - Reduction in Its Workforce to Reduce Expenses [Member] $ in Millions | Oct. 24, 2018USD ($) |
Employee Severance [Member] | |
Restructuring Charges, Total | $ 1.2 |
Transition Assistance [Member] | |
Restructuring Charges, Total | $ 2.3 |