Silvaco Reports Second Quarter 2024 Financial Results
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SILVACO GROUP, INC. | |
CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME | | (Unaudited, in thousands except share and per share amounts) | | | | | | | | | | | |
Three Months Ended June 30, | |
Six Months Ended June 30, | | | |
2024 | | | |
2023 | | | |
2024 | | | |
2023 | | | Revenue: | | | | | | | | | Software license revenue | $ | 11,023 | | | $ | 8,845 | | | $ | 23,281 | | | $ | 19,510 | | | Maintenance and service | | 3,937 | | | | 3,680 | | | | 7,568 | | | | 7,306 | | | Total revenue | |
14,960 | | | |
12,525 | | | |
30,849 | | | |
26,816 | | | Cost of revenue | |
4,861 | | | |
2,373 | | | |
6,834 | | | |
4,398 | | | Gross profit | |
10,099 | | | |
10,152 | | | |
24,015 | | | |
22,418 | | | Operating expenses: | | | | | | | | | Research and development | | 7,707 | | | | 3,169 | | | | 11,323 | | | | 6,544 | | | Selling and marketing | | 7,171 | | | | 2,930 | | | | 10,483 | | | | 5,735 | | | General and administrative | | 18,314 | | | | 4,258 | | | | 22,914 | | | | 8,811 | | | Estimated litigation claim | | 14,696 | | | | — | | | | 14,696 | | | | — | | | Total operating expenses | |
47,888 | | | |
10,357 | | | |
59,416 | | | |
21,090 | | | Operating (loss) income | |
(37,789 |
) | | |
(205 |
) | | |
(35,401 |
) | | |
1,328 | | | Loss on debt extinguishment | | (718 | ) | | | — | | | | (718 | ) | | | — | | | Interest income | | 682 | | | | 2 | | | | 682 | | | | 3 | | | Interest and other expense, net | | (349 | ) | | | (240 | ) | | | (554 | ) | | | (572 | ) | | (Loss) income before income tax provision | |
(38,174 |
) | | |
(443 |
) | | |
(35,991 |
) | | |
759 | | | Income tax provision (benefit) | | 214 | | | | (112 | ) | | | 1,019 | | | | 276 | | | Net (loss) income |
$ |
(38,388 |
) | |
$ |
(331 |
) | |
$ |
(37,010 |
) | |
$ |
483 | | | (Loss) earnings per share attributable to common stockholders: | | | | | | | | | Basic and diluted | $ | (1.55 | ) | | $ | (0.02 | ) | | $ | (1.66 | ) | | $ | 0.02 | | | Weighted average shares used in computing per share amounts: | | | | | | | | | Basic and diluted | | 24,811,112 | | | | 20,000,000 | | | | 22,405,557 | | | | 20,000,000 | | | | | | | | | | |
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