| SILVACO GROUP, INC. | ||||||||||||||||
| GAAP to Non-GAAP Reconciliation | ||||||||||||||||
| (Unaudited, in thousands except per share amounts) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| Reconciliation GAAP to Non-GAAP | 9/30/2024 | 9/30/2023 | 9/30/2024 | 9/30/2023 | ||||||||||||
| GAAP Cost of revenue | $ | 2,786 | $ | 2,274 | $ | 9,620 | $ | 6,672 | ||||||||
| Less: Stock based compensation expense | (313 | ) | - | (2,780 | ) | - | ||||||||||
| Less: Amortization of acquired intangible assets | (249 | ) | - | (498 | ) | - | ||||||||||
| Non-GAAP Cost of revenue | $ | 2,224 | $ | 2,274 | $ | 6,342 | $ | 6,672 | ||||||||
| GAAP Gross profit | $ | 8,186 | $ | 12,670 | $ | 32,201 | $ | 35,088 | ||||||||
| Add: Stock based compensation expense | 313 | - | 2,780 | - | ||||||||||||
| Add: Amortization of acquired intangible assets | 249 | - | 498 | - | ||||||||||||
| Non-GAAP Gross profit | $ | 8,748 | $ | 12,670 | $ | 35,479 | $ | 35,088 | ||||||||
| GAAP Research and development | $ | 4,134 | $ | 3,289 | $ | 15,457 | $ | 9,833 | ||||||||
| Less: Stock based compensation expense | (491 | ) | - | (4,556 | ) | - | ||||||||||
| Less: Amortization of acquired intangible assets | (46 | ) | (82 | ) | (163 | ) | (257 | ) | ||||||||
| Non-GAAP Research and development | $ | 3,597 | $ | 3,207 | $ | 10,738 | $ | 9,576 | ||||||||
| GAAP Sales and marketing | $ | 3,834 | $ | 3,139 | $ | 14,317 | $ | 8,874 | ||||||||
| Less: Stock based compensation expense | (379 | ) | - | (3,931 | ) | - | ||||||||||
| Less: IPO preparation costs | - | - | (178 | ) | - | |||||||||||
| Non-GAAP Sales and marketing | $ | 3,455 | $ | 3,139 | $ | 10,208 | $ | 8,874 | ||||||||
| GAAP General and administrative | $ | 7,128 | $ | 4,500 | $ | 30,042 | $ | 13,311 | ||||||||
| Less: Stock based compensation expense | (1,376 | ) | - | (13,121 | ) | - | ||||||||||
| Less: Acquisition-related estimated litigation claim and legal costs | (1,491 | ) | (723 | ) | (4,106 | ) | (1,192 | ) | ||||||||
| Less: IPO preparation costs | - | (197 | ) | (695 | ) | (1,176 | ) | |||||||||
| Non-GAAP General and administrative | $ | 4,261 | $ | 3,580 | $ | 12,120 | $ | 10,943 | ||||||||
| GAAP Estimated litigation claim | $ | 392 | $ | - | $ | 15,088 | $ | - | ||||||||
| Less: Acquisition-related estimated litigation claim and legal costs | (392 | ) | - | (15,088 | ) | - | ||||||||||
| Non-GAAP Litigation claim | $ | - | $ | 0 | $ | - | $ | - | ||||||||
| GAAP Operating expenses | $ | 15,488 | $ | 10,928 | $ | 74,904 | $ | 32,018 | ||||||||
| Less: Stock based compensation expense | (2,246 | ) | - | (21,608 | ) | - | ||||||||||
| Less: Acquisition-related estimated litigation claim and legal costs | (1,883 | ) | (723 | ) | (19,194 | ) | (1,192 | ) | ||||||||
| Less: IPO preparation costs | - | (197 | ) | (873 | ) | (1,176 | ) | |||||||||
| Less: Amortization of acquired intangible assets | (46 | ) | (82 | ) | (163 | ) | (257 | ) | ||||||||
| Non-GAAP Operating expenses | $ | 11,313 | $ | 9,926 | $ | 33,066 | $ | 29,393 | ||||||||
| GAAP (Loss) income from operations | $ | (7,302 | ) | $ | 1,742 | $ | (42,703 | ) | $ | 3,070 | ||||||
| Add: Stock based compensation expense | 2,559 | - | 24,388 | - | ||||||||||||
| Add: Acquisition-related estimated litigation claim and legal costs | 1,883 | 723 | 19,194 | 1,192 | ||||||||||||
| Add: IPO preparation costs | - | 197 | 873 | 1,176 | ||||||||||||
| Add: Amortization of acquired intangible assets | 295 | 82 | 661 | 257 | ||||||||||||
| Non-GAAP (Loss) income from operations | $ | (2,565 | ) | $ | 2,744 | $ | 2,413 | $ | 5,695 | |||||||
| GAAP Net (loss) income | $ | (6,551 | ) | $ | 1,448 | $ | (43,561 | ) | $ | 1,931 | ||||||
| Add: Stock based compensation expense | 2,559 | - | 24,388 | - | ||||||||||||
| Add: Amortization of acquired intangible assets | 295 | 82 | 661 | 257 | ||||||||||||
| Add: Acquisition-related estimated litigation claim and legal costs | 1,883 | 723 | 19,194 | 1,192 | ||||||||||||
| Add: IPO preparation costs | - | 197 | 873 | 1,176 | ||||||||||||
| Add: Loss on debt extinguishment | - | - | 718 | - | ||||||||||||
| Add: Change in fair value of consideration | - | (9 | ) | (18 | ) | 332 | ||||||||||
| Add: Foreign exchange (gain) loss | 174 | (77 | ) | 418 | 338 | |||||||||||
| Add: Income tax effect of non-GAAP adjustment | (189 | ) | (38 | ) | (265 | ) | (142 | ) | ||||||||
| Non-GAAP Net (loss) income | $ | (1,829 | ) | $ | 2,326 | $ | 2,408 | $ | 5,084 | |||||||
| GAAP Net (loss) income per share: | ||||||||||||||||
| Basic and diluted: | $ | (0.23 | ) | $ | 0.07 | $ | (1.77 | ) | $ | 0.10 | ||||||
| Non-GAAP Net (loss) income per share: | ||||||||||||||||
| Basic | $ | (0.06 | ) | $ | 0.12 | $ | 0.10 | $ | 0.25 | |||||||
| Diluted | $ | (0.06 | ) | $ | 0.12 | $ | 0.09 | $ | 0.25 | |||||||
| Weighted average shares used in GAAP and non-GAAP net (loss) income per share: | ||||||||||||||||
| Basic | 29,048,080 | 20,000,000 | 24,633,030 | 20,000,000 | ||||||||||||
| Diluted | 29,048,080 | 20,000,000 | 26,244,892 | 20,000,000 | ||||||||||||
