Safe Harbor Non-GAAP Financial Information

Size: px
Start display at page:

Download "Safe Harbor Non-GAAP Financial Information"

Transcription

1 1

2 Safe Harbor This document contains forwardlooking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including financial projections subject to risks, uncertainties and other factors that could materially affect our actual results. Actual results may differ materially from those indicated by such forwardlooking statements as a result of various important factors including, among others, competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. Any forwardlooking statements or financial projections represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forwardlooking statements or financial projections. Further, our financial projections do not consider the impact of any pending or future changes to accounting pronouncements under US Generally Accepted Accounting Principles. For additional discussion of factors that could impact our operational and financial results, please refer to our Form 10K for the fiscal year ended June 30, 2017 and subsequently filed Form 10Qs and Form 8Ks or amendments thereto. NonGAAP Financial Information The financial results and projections in this document are presented on both a GAAP and a nongaap basis. NonGAAP projections include core operating income, adjusted EBITDA, adjusted EBITDA margin, core operating margin, core earnings per share and constant currency growth. Reconciliations of our nongaap results and guidance to the most directly comparable GAAP results and guidance are included at the end of this document. 2 2

3 Q3 Core Results Strategic Plan Subscription and Transaction Revenue Growth 24% Well above 1520% target Drive subscription and transaction revenue growth of 1520% per year Established Products Subscription and Transaction Revenue Total Revenue Core Operating Income 51.6M 78.2M 16.3M Attractive economic model with expanding margins Invest in market leading cloud payment solutions Core Operating Margin 21% Sell key product sets in subscription and transaction revenue model Transitioning Products Subscription and Transaction Revenue Growth 11% Subscription and Transaction Revenue 15.7M Total Revenue 22.9M 19 million of annual subscriptions currently in implementation and not yet live Expand operating and EBITDA margins Allocate capital with discipline Core Operating Income 1.6M Core Operating Margin 7% Subscription and Transaction Revenue Growth 21% Margins will expand as new subscriptions go live Consolidated Bottomline Subscription and Transaction Revenue 67.4M Total Revenue 101.1M Core Operating Income 18.0M Core Operating Margin 18% 92 million annualized EBITDA is up 21% yearoveryear, reflecting attractive business model Adjusted EBITDA 23.1M Adjusted EBITDA Margin 23% Increased 28% year over year Core EPS 0.30 Core operating income, adjusted EBITDA, adjusted EBITDA margin, core operating margin and core EPS are nongaap measures. Definitions and reconciliations to the most directly comparable GAAP measures are included at the end of this document. Growth rates expressed in constant currency. 3 3

4 Revenue Mix Evolution 67% of revenue is subscription and transaction, growing at 1520% per year (up from 65% a year ago) 85% of overall revenue is recurring Strategically, we provide services only as necessary to ensure our customers success We offer software license only in select market circumstances 85% of Revenue is Recurring Maintenance 19% Fiscal Years Software License Revenue Subs & Trans 67% Services 11% Software 3% 4 Fiscal Years Fiscal Years 4 4

5 Q4 18 Core Guidance (in millions, except for per share amounts and margin percentages) Established Transitioning Total Bottomline Subscription & transaction revenue Total Revenue Core operating income (1) Core operating margin % (1) 20% 10% 17% Adjusted EBITDA (1) 22 Adjusted EBITDA as a % of Revenue (1) 22% EPS ) Core operating income, adjusted EBITDA, core operating margin and core EPS are non GAAP measures. Definitions and reconciliations to the most directly comparable GAAP measures are included at the end of this document. 2) Transitioning product represents our Digital Banking Segment as defined in our SEC filings. 5

6 FY19 Core Guidance (in millions, except for per share amounts and margin percentages) Established Transitioning Total Bottomline Subscription & transaction revenue Total Revenue Core operating income (1) Core operating margin % (1) 21 22% 6 12% 18 20% Adjusted EBITDA (1) Adjusted EBITDA as a % of Revenue (1) 23 24% EPS ) Core operating income, adjusted EBITDA, core operating margin and core EPS are non GAAP measures. Definitions and reconciliations to the most directly comparable GAAP measures are included at the end of this document. 2) Transitioning product represents our Digital Banking Segment as defined in our SEC filings. 6

7 Reconciliations to the Most Directly Comparable GAAP Results and Guidance and Definitions of NonGAAP Financial Measures 7 5

8 Q4 18 GAAP Reconciliation (in millions, except for per share amounts and margin percentages) Established Transitioning Total Bottomline Subscription & transaction revenue Total Revenue GAAP Operating income 1 GAAP Operating income % 1% GAAP Net Income 0 GAAP EPS ) Transitioning product represents our Digital Banking Segment as defined in our SEC filings. 8

9 Q4 18 Guidance Reconciliation (in millions, except for per share amounts) Operating Income Operating Margin Total Bottomline Q4 18 Q4 18 GAAP Operating Income / GAAP Operating Margin 1.4 1% Adjustments: Amortization of Intangible Assets 5.8 6% Equity Based Compensation 8.7 9% Global ERP system implementation and other costs 1.6 2% Minimum pension liability adjustments 0% Core Operating Income / Core Operating Margin % GAAP earnings per share 0.00 Adjustments: Amortization of Intangible Assets 0.15 Equity Based Compensation 0.22 Global ERP system implementation costs 0.04 Minimum pension liability adjustments Amortization of debt issuance and debt discount costs 0.00 Non recurring tax benefit Tax effect on non GAAP income (0.12) Core earnings per share ) Core operating income, adjusted EBITDA, adjusted EBITDA margin, core operating margin and core EPS are non GAAP measures. Definitions are included at the end of this document. 2) The table above presents a reconciliation of our Core guidance to our GAAP guidance. It is impracticable to separately reconcile GAAP guidance to Core guidance for the Established Products and Transitioning Product components of our business, because the non GAAP adjustments affecting such a reconciliation are excluded from our operating segment measures of profit or loss and therefore these amounts are not tracked in or allocated to any individual operating component of our business and are not available without unreasonable efforts. 3) We have assumed a Core tax rate of 25%. For Other Income (expense) we have assumed consistent draw on our revolver and consistent interest rates. 9

10 Q4 18 Guidance Reconciliation (continued) Reconciliation of Reconciliation of Adjusted EBITDA Adjusted EBITDA Margin Q4 18 Q4 18 GAAP Net income / GAAP Net income margin 0 0% Adjustments: Other expense, net 1.3 1% Provision for (benefit from) income taxes (0.2) (0%) Depreciation and amortization 4.5 4% Amortization of acquired intangible assets 5.8 6% Stock based compensation expense 8.7 9% Acquisition and integration related expenses 0% Restructuring expenses 0% Minimum pension liability adjustments 0% Global ERP system implementation and other costs 1.6 2% Adjusted EBITDA / Adjusted EBITDA margin 22 22% 1) The table above presents a reconciliation of our Core guidance to our GAAP guidance. Adjusted EBITDA and Adjusted EBITDA margin are non GAAP measures. Definitions are included at the end of this document. 2) We have assumed a Core tax rate of 25%. For Other Income (expense) we have assumed consistent draw on our revolver and consistent interest rates. 10

11 FY19 GAAP Reconciliation (in millions, except for per share amounts and margin percentages) Established Transitioning Total Bottomline Subscription & transaction revenue Total Revenue GAAP Operating income 22 GAAP Operating margin % 5% GAAP Net income 13 GAAP EPS ) Transitioning product represents our Digital Banking Segment as defined in our SEC filings. 11

12 FY19 Guidance Reconciliation (in millions, except for per share amounts) Operating Income Operating Margin Total Bottomline FY19 FY19 GAAP Operating Income / GAAP Operating Margin 22 5% Adjustments: Amortization of Intangible Assets % Equity Based Compensation % Global ERP system implementation and other costs 3.2 1% Acquisition and integration related expenses 0% Restructuring benefit 0% Minimum pension liability adjustments 0% Core Operating Income / Core Operating Margin 81 19% GAAP earnings per share 0.33 Adjustments: Amortization of Intangible Assets 0.52 Equity Based Compensation 0.89 Global ERP system implementation and other costs 0.08 Acquisition and integration related expenses Restructuring benefit Minimum pension liability adjustments Amortization of debt issuance and debt discount costs 0.01 Tax effect on non GAAP income (0.40) Core earnings per share ) Core operating income, adjusted EBITDA, adjusted EBITDA margin, core operating margin and core EPS are non GAAP measures. Definitions are included at the end of this document. 2) The table above presents a reconciliation of our Core guidance to our GAAP guidance. It is impracticable to separately reconcile GAAP guidance to Core guidance for the Established Products and Transitioning Product components of our business, because the non GAAP adjustments affecting such a reconciliation are excluded from our operating segment measures of profit or loss and therefore these amounts are not tracked in or allocated to any individual operating component of our business and are not available without unreasonable efforts. 3) We have assumed a Core tax rate of 25%. For Other Income (expense) we have assumed consistent draw on our revolver and consistent interest rates. 12

13 FY19 Guidance Reconciliation (continued) Reconciliation of Adjusted EBITDA FY19 Reconciliation of Adjusted EBITDA Margin FY19 GAAP Net income / GAAP Net income margin 13 3% Adjustments: Other expense, net 5.2 1% Provision for (benefit from) income taxes 3.1 1% Depreciation and amortization % Amortization of acquired intangible assets % Stock based compensation expense % Acquisition and integration related expenses 0% Restructuring expenses 0% Minimum pension liability adjustments 0% Global ERP system implementation and other costs 3.2 1% Adjusted EBITDA / Adjusted EBITDA margin % 1) The table above presents a reconciliation of our Core guidance to our GAAP guidance. Adjusted EBITDA and Adjusted EBITDA margin are non GAAP measures. Definitions are included at the end of this document. 2) We have assumed a Core tax rate of 25%. For Other Income (expense) we have assumed consistent draw on our revolver and consistent interest rates. 13

14 Bottomline Technologies Reconciliation of NonGAAP Measures Three Months Ended March 31, 2018 Amortization of AcquisitionRelated Intangible Assets GAAP Revenues: Subscriptions and transactions Software licenses Service and maintenance Other Total revenues 67,378 3,134 29,476 1,148 Stockbased Compensation Acquisition and IntegrationRelated Expenses Restructuring Expenses 101,136 Cost of revenues: Subscriptions and transactions Software licenses Service and maintenance Other 30, , (724) (619) (102) (196) (138) Total cost of revenues 45,716 (1,343) (102) (334) Gross profit 55,420 1, Operating expenses: Sales and marketing Product development and engineering General and administrative Amortization of acquisitionrelated intangible assets 22,418 14,131 12,755 5,818 (5,818) (3,441) (1,311) (2,497) (19) (103) (476) (129) (546) Total operating expenses 55,122 (5,818) (7,249) (122) 5,818 8, Income (loss) from operations 298 Other expense, net (1,293) Income (loss) before income taxes Provision for income taxes Net Income (loss) (995) 7 (1) Basic net income (loss) per share Diluted net income (loss) per share (1) Shares used in computing net income (loss) per share: Basic Diluted (1,002) (0.03) (0.03) Minimum Pension Liability Adjustments Amortization of Debt Issuance and Debt Discount costs Global ERP System Implementation and Other Costs Tax Effect on NonGAAP Income NonGAAP 67,378 3,134 29,476 1,148 % of Revenue 67% 3% 29% 1% 101, % 29, , Margins 56% 93% 56% 19% 1 43,938 (1) 57,198 57% (1,558) 18,502 12,673 8,051 % of Revenue 18% 13% 8% 0% (1,151) 2 (1,558) 39,226 39% 1,485 (3) 1,558 17,972 18% 108 (1,185) 1% 108 1,558 4,916 16,787 4,923 17% 5% % 1, % (4,916) 4.9% 11,864 12% 5,818 8, ,485 5, % 8, % % 1, % (3) (3) 0.0% 38,348 38, ,334 (1) Core net income and core earnings per share are nongaap measures and exclude certain items, specifically amortization of acquired intangible assets, goodwill impairment charges, stockbased compensation, acquisition and integrationrelated expenses, restructuring related costs, minimum pension liability adjustments, noncore charges associated with our convertible notes and revolving credit facility, global enterprise resource planning (ERP) system implementation costs, and other noncore or nonrecurring gains or losses that arise from time to time. In computing diluted core earnings per share, we exclude the weighted average dilutive effect of shares issuable under our convertible senior notes to the extent that any such dilution would be offset by our note hedges; the note hedges would be considered an antidilutive security under GAAP. 14

15 Bottomline Technologies Reconciliation of NonGAAP Measures Three Months Ended March 31, 2017 GAAP Revenues: Subscriptions and transactions Software licenses Service and maintenance Other Total revenues 55,851 2,735 26,344 1,169 86,099 Amortization of AcquisitionRelated Intangible Assets Stockbased Compensation Acquisition and IntegrationRelated Expenses Restructuring Expenses Minimum Pension Liability Adjustments Amortization of Debt Issuance and Debt Discount costs Global ERP System Implementation and Other Costs Tax Effect on NonGAAP Income 86, % 25, , Margins 55% 90% 56% 29% 37,884 48,215 56% Cost of revenues: Subscriptions and transactions Software licenses Service and maintenance Other 25, , (392) (725) (149) (235) (75) (15) (99) Total cost of revenues 39,574 (1,117) (149) (310) (114) Gross profit 46,525 1, NonGAAP % of Revenue 65% 3% 31% 1% 55,851 2,735 26,344 1,169 Operating expenses: Sales and marketing Product development and engineering General and administrative Amortization of acquisitionrelated intangible assets 18,976 13,057 10,863 6,006 (6,006) (3,013) (1,265) (1,959) (2) (350) (219) (19) (13) (69) (71) (10) (2,076) 15,675 11,700 6,455 % of Revenue 18% 14% 7% 0% Total operating expenses 48,902 (6,006) (6,237) (352) (251) (150) (2,076) 33,830 39% Income (loss) from operations (2,377) 6,006 7, ,076 14,385 17% Other expense, net (4,479) 3,592 Income (loss) before income taxes Provision for (benefit from) income taxes (6,856) (232) 6,006 7, ,592 2,076 4,726 13,498 4,494 16% 5% Net Income (loss) (1) (6,624) 6, % 7, % % % % 3, % 2, % (4,726) 5.5% 9,004 10% Basic net loss per share (0.17) Diluted net income (loss) per share (1) (0.17) Shares used in computing net income (loss) per share: Basic Diluted 37,965 37,965 (887) 1% ,344 (1) Core net income and core earnings per share are nongaap measures and exclude certain items, specifically amortization of acquisitionrelated intangible assets, goodwill impairment charges, stockbased compensation, acquisition and integrationrelated expenses, restructuring related costs, minimum pension liability adjustments, noncore charges associated with our convertible notes and revolving credit facility, global enterprise resource planning (ERP) system implementation costs, and other noncore or nonrecurring gains or losses that arise from time to time. In computing diluted core earnings per share, we exclude the weighted average dilutive effect of shares issuable under our convertible senior notes to the extent that any such dilution would be offset by our note hedges; the note hedges would be considered an antidilutive security under GAAP. 15

16 Bottomline Technologies Reconciliation of NonGAAP Measures Nine Months Ended March 31, 2018 GAAP Revenues: Subscriptions and transactions Software licenses Service and maintenance Other Total revenues 191,279 8,119 85,251 2, ,627 Cost of revenues: Subscriptions and transactions Software licenses Service and maintenance Other Amortization of AcquisitionRelated Intangible Assets Stockbased Compensation Acquisition and IntegrationRelated Expenses Restructuring Expenses Minimum Pension Liability Adjustments Amortization of Debt Issuance and Debt Discount costs Global ERP System Implementation and Other Costs Nonrecurring Tax Benefit (2) Tax Effect on NonGAAP Income NonGAAP 191,279 8,119 85,251 2,978 % of Revenue 66% 3% 30% 1% 287, % Margins 57% 92% 57% 23% 85, ,993 2,298 (2,082) (1,815) (131) (194) (138) (2) (14) 82, ,026 2,298 Total cost of revenues 127,295 (3,897) (131) (332) (16) 122,919 Gross profit 160,332 3, ,708 57% Operating expenses: Sales and marketing Product development and engineering General and administrative Amortization of acquisitionrelated intangible assets (8) (9) (2) (4,973) 52,373 37,342 21,971 % of Revenue 18% 13% 8% 0% (1,144) (19) (4,973) 111,686 39% 1, ,973 53,022 18% 6,393 (2,895) 1% 35 6,393 4,973 4,402 14,035 50,127 14,406 17% 5% % 6, % 4, % (4,402) 1.5% (14,035) 4.9% 35,721 12% 63,119 41,838 35,565 16,708 (16,708) (10,213) (4,094) (6,928) (50) (269) (1,146) (475) (124) (545) 157,230 (16,708) (21,235) (1,465) 3,102 16,708 25,132 1,596 Other expense, net (9,288) Income (loss) before income taxes Provision for (benefit from) income taxes (6,186) (4,031) 16,708 25,132 1,596 1,476 (2,155) 16, % 25, % 1, % 1, % Total operating expenses Income (loss) from operations Net Income (loss) (1) Basic net income (loss) per share Diluted net income (loss) per share (1) Shares used in computing net income (loss) per share: Basic Diluted (0.06) (0.06) 38,055 38, ,851 (1) Core net income and core earnings per share are nongaap measures and exclude certain items, specifically amortization of acquisitionrelated intangible assets, goodwill impairment charges, stockbased compensation, acquisition and integrationrelated expenses, restructuring related costs, minimum pension liability adjustments, noncore charges associated with our convertible notes and revolving credit facility, global enterprise resource planning (ERP) system implementation costs, and other noncore or nonrecurring gains or losses that arise from time to time. In computing diluted core earnings per share, we exclude the weighted average dilutive effect of shares issuable under our convertible senior notes to the extent that any such dilution would be offset by our note hedges; the note hedges would be considered an antidilutive security under GAAP. (2) The nonrecurring tax benefit in the nine months ended March 31, 2018 represents a benefit arising from the revaluation of certain deferred tax liabilities as a result of the U.S. Tax Cuts and Jobs Act. 16

17 Bottomline Technologies Reconciliation of NonGAAP Measures Nine Months Ended March 31, 2017 GAAP Revenues: Subscriptions and transactions Software licenses Service and maintenance Other 163,627 8,348 79,937 3,999 Total revenues 255,911 Cost of revenues: Subscriptions and transactions Software licenses Service and maintenance Other Amortization of AcquisitionRelated Intangible Assets Goodwill Impairment Charge Stockbased Compensation Acquisition and IntegrationRelated Expenses Restructuring Expenses Minimum Pension Liability Adjustments Amortization of Debt Issuance and Debt Discount costs Global ERP System Implementation and Other Costs Nonrecurring Tax Benefit (2) Tax Effect on NonGAAP Income NonGAAP % of Revenue 64% 3% 31% 2% 163,627 8,348 79,937 3, , % Margins 56% 93% 55% 28% 74, ,308 2,891 (1,174) (2,809) (442) (235) (75) (43) (301) 72, ,123 2,891 Total cost of revenues 117,323 (3,983) (442) (310) (344) 112,244 Gross profit 138,588 3, ,667 56% Operating expenses: Sales and marketing Product development and engineering General and administrative Amortization of acquisitionrelated intangible assets Goodwill impairment charge 57,176 39,074 35,339 18,381 7,529 (18,381) (7,529) (9,416) (3,970) (6,840) (22) (14) (1,794) (219) (19) (13) (214) (214) (33) (6,673) 47,305 34,857 19,986 % of Revenue 18% 14% 8% 0% 0% Total operating expenses 157,499 (18,381) (7,529) (20,226) (1,830) (251) (461) (6,673) 102,148 40% Income (loss) from operations (18,911) 18,381 7,529 24,209 2, ,673 41,519 16% Other expense, net (12,596) 10,418 (2,178) 1% Income (loss) before income taxes Provision for (benefit from) income taxes (31,507) (4,029) 18,381 7,529 24,209 2, ,418 6,673 4,461 11,856 39,341 12,288 15% 5% (27,478) 18, % 7, % 24, % 2, % % % 10, % 6, % (4,461) 1.7% (11,856) 4.6% 27,053 11% Net Income (loss) (1) Basic net loss per share (0.73) Diluted net income (loss) per share (1) (0.73) Shares used in computing net income (loss) per share: Basic Diluted 37,891 37, ,078 (1) Core net income and core earnings per share are nongaap measures and exclude certain items, specifically amortization of acquisitionrelated intangible assets, goodwill impairment charges, stockbased compensation, acquisition and integrationrelated expenses, restructuring related costs, minimum pension liability adjustments, noncore charges associated with our convertible notes and revolving credit facility, global enterprise resource planning (ERP) system implementation costs, and other noncore or nonrecurring gains or losses that arise from time to time. In computing diluted core earnings per share, we exclude the weighted average dilutive effect of shares issuable under our convertible senior notes to the extent that any such dilution would be offset by our note hedges; the note hedges would be considered an antidilutive security under GAAP. (2) The nonrecurring tax benefit in the nine months ended March 31, 2017 represents a tax benefit in Switzerland related to the impairment of their investment in Intellinx, Ltd. 17

18 Reconciliation of Adjusted EBITDA and Adjusted EBITDA margin Reconciliation of Adjusted EBITDA Reconciliation of Adjusted EBITDA Margin Three Months Ended Three Months Ended 3/31/18 3/31/17 3/31/18 3/31/17 GAAP Net loss / GAAP Net loss margin (1,002) (6,624) (1%) (8%) Adjustments: Other expense, net 1,293 4,479 1% 5% Provision for (benefit from) income taxes 7 (232) 0% (0%) Depreciation and amortization 5,095 4,684 5% 5% Amortization of acquisitionrelated intangible assets 5,818 6,006 6% 7% Stockbased compensation expense 8,592 7,354 9% 9% Acquisition and integrationrelated expenses % 1% Restructuring expenses 1, % 1% Minimum pension liability adjustments (3) 264 0% 0% Global ERP system implementation and other costs 1,558 2,076 2% 2% Adjusted EBITDA / Adjusted EBITDA margin 23,067 19,069 23% 22% (1) The table above presents reconciliations of adjusted EBITDA to GAAP Net loss and Adjusted EBITDA margin to GAAP Net loss margin. Adjusted EBITDA and Adjusted EBITDA margin are nongaap measures. Adjusted EBITDA represents our GAAP net income or loss, adjusted for charges related to interest expense, income taxes, depreciation and amortization, and other charges. Adjusted EBITDA margin represents Adjusted EBITDA divided by revenue. 18

19 Reconciliation of Adjusted EBITDA and Adjusted EBITDA margin Reconciliation of Adjusted EBITDA Reconciliation of Adjusted EBITDA Margin Nine Months Ended Nine Months Ended 3/31/18 3/31/17 3/31/18 3/31/17 GAAP Net loss / GAAP Net loss margin (2,155) (27,478) (1%) (11%) Adjustments: Other expense, net 9,288 12,596 3% 5% Benefit from income taxes (4,031) (4,029) (1%) (2%) Depreciation and amortization 14,638 12,925 5% 5% Amortization of acquisitionrelated intangible assets 16,708 18,381 6% 7% Goodwill impairment charge 7,529 0% 3% Stockbased compensation expense 25,132 24,209 8% 10% Acquisition and integrationrelated expenses 1,596 2,272 1% 1% Restructuring expenses 1, % 0% Minimum pension liability adjustments % 0% Global ERP system implementation and other costs 4,973 6,673 2% 3% Adjusted EBITDA / Adjusted EBITDA margin 67,660 54,444 24% 21% (1) The table above presents reconciliations of adjusted EBITDA to GAAP Net loss and Adjusted EBITDA margin to GAAP Net loss margin. Adjusted EBITDA and Adjusted EBITDA margin are nongaap measures. Adjusted EBITDA represents our GAAP net income or loss, adjusted for charges related to interest expense, income taxes, depreciation and amortization, and other charges. Adjusted EBITDA margin represents Adjusted EBITDA divided by revenue. 19

20 Reconciliation of Diluted Core Earnings Per Share Three Months Ended Nine Months Ended 3/31/18 3/31/17 3/31/18 3/31/17 GAAP basic and diluted net loss per share (0.03) (0.17) (0.06) (0.73) Plus: Amortization of acquisitionrelated intangible assets Goodwill impairment charge 0.20 Stockbased compensation expense Acquisition and integrationrelated expenses Restructuring expenses Global ERP system implementation and other costs Minimum pension liability adjustments (0.00) Amortization of debt issuance and debt discount costs Nonrecurring tax benefit (0.11) (0.12) Tax effects on nongaap income (0.12) (0.12) (0.36) (0.30) Diluted core earnings per share Numerator: Three Months Ended Nine Months Ended 3/31/18 3/31/17 3/31/18 3/31/17 Core net income 11,864 9,004 35,721 27,053 Denominator: Weighted average shares used in computing basic and diluted net loss per share for GAAP 38,348 37,965 38,055 37,891 Impact of dilutive securities (shares related to conversion feature on convertible senior notes, stock options, restricted stock awards and employee stock purchase plan) (1) GAAP diluted shares 39,334 38,344 38,996 38,078 Impact of note hedges (2) (145) Weighted average shares used in computing diluted core earnings per share 39,334 38,344 38,851 38,078 (1) These securities are antidilutive on a GAAP basis as a result of our net loss, but are considered dilutive on a nongaap basis in periods where we report nongaap net income. (2) In computing diluted core earnings per share, we exclude the weighted average dilutive effect of shares issuable under our convertible senior notes to the extent that any such dilution would be offset by our note hedges; the note hedges would be considered an antidilutive security under GAAP. 20

21 NonGAAP Financial Measures We have presented supplemental nongaap financial measures as part of this earnings release. The presentation of this nongaap financial information should not be considered in isolation from, or as a substitute for, our financial results presented in accordance with GAAP. Core net income, core earnings per share, adjusted EBITDA and adjusted EBITDA as a percent of revenue are nongaap financial measures. Core net income and core earnings per share exclude certain items, specifically amortization of acquisition related intangible assets, goodwill impairment charges, stockbased compensation, acquisition and integrationrelated expenses, restructuring related costs, minimum pension liability adjustments, noncore charges associated with our convertible notes and revolving credit facility, global enterprise resource planning (ERP) system implementation and other costs, and other noncore or nonrecurring gains or losses that arise from time to time. Noncore charges associated with our convertible notes and revolving credit facility consist of the amortization of debt issuance and debt discount costs. Acquisition and integrationrelated expenses include legal and professional fees and other direct transaction costs associated with business and asset acquisitions, costs associated with integrating acquired businesses, including costs for transitional employees or services, integration related professional services costs and other incremental charges we incur as a direct result of acquisition and integration efforts. Global ERP system implementation and other costs relate to direct and incremental costs incurred in connection with our multiphase implementation of a new, global ERP solution, the related technology infrastructure and costs related to our implementation of the new revenue recognition standard under US GAAP. In computing diluted core earnings per share, we exclude the weighted average dilutive effect of shares issuable under our convertible notes to the extent that any such dilution would be offset by our note hedges; the note hedges would be considered an antidilutive security under GAAP. Periodically, such as in periods that include significant foreign currency volatility, we may present certain metrics on a constant currency basis, to show the impact of period to period results normalized for the impact of foreign currency rate changes. We calculate constant currency information by translating prior period financial results using current period foreign exchange rates. Adjusted EBITDA and adjusted EBITDA as a percent of revenue represent our GAAP net income or loss, adjusted for charges related to interest expense, income taxes, depreciation and amortization and other charges, as noted in the reconciliation that follows. We believe that these supplemental nongaap financial measures are useful to investors because they allow for an evaluation of the company with a focus on the performance of its core operations, including more meaningful comparisons of financial results to historical periods and to the financial results of less acquisitive peer and competitor companies. Our executive management team uses these same nongaap financial measures internally to assess the ongoing performance of the company. Additionally, the same nongaap information is used for planning purposes, including the preparation of operating budgets and in communications with our board of directors with respect to our core financial performance. Since this information is not a GAAP measurement of financial performance, there are material limitations to its usefulness on a standalone basis, including the lack of comparability of this presentation to the GAAP financial results of other companies. 21

Safe Harbor Non-GAAP Financial Information

Safe Harbor Non-GAAP Financial Information 1 Safe Harbor This document contains forwardlooking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including financial projections subject to risks, uncertainties

More information

Supplementary Materials First Quarter Fiscal 2018 Earnings Call

Supplementary Materials First Quarter Fiscal 2018 Earnings Call Supplementary Materials First Quarter Fiscal 2018 Earnings Call November 2, 2017 Safe Harbor This document contains forwardlooking statements within the meaning of the Private Securities Litigation Reform

More information

Supplementary Materials Second Quarter Fiscal 2018 Earnings Call

Supplementary Materials Second Quarter Fiscal 2018 Earnings Call Supplementary Materials Second Quarter Fiscal 2018 Earnings Call February 1, 2018 1 Safe Harbor This document contains forwardlooking statements within the meaning of the Private Securities Litigation

More information

Safe Harbor. Non-GAAP Financial Information

Safe Harbor. Non-GAAP Financial Information 1 Safe Harbor This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including financial projections subject to risks, uncertainties

More information

Bottomline Technologies Reports Second Quarter Results

Bottomline Technologies Reports Second Quarter Results Bottomline Technologies Reports Second Quarter Results Strong Growth in Subscription and Transaction Revenue Highlights Second Quarter PORTSMOUTH, N.H. February 1, 2018 Bottomline Technologies (NASDAQ:EPAY),

More information

Bottomline Technologies Reports Third Quarter Results

Bottomline Technologies Reports Third Quarter Results Bottomline Technologies Reports Third Quarter Results 21% Growth in Subscription and Transaction Revenue Highlights Third Quarter PORTSMOUTH, N.H. May 3, 2018 Bottomline Technologies (NASDAQ:EPAY), a leading

More information

Supplementary Materials. For use in conjunction with the November 2, 2016 Earnings Call

Supplementary Materials. For use in conjunction with the November 2, 2016 Earnings Call Supplementary Materials For use in conjunction with the November 2, 2016 Earnings Call 1 Safe Harbor This document contains forward-looking information and financial projections subject to risks, uncertainties

More information

Bottomline Technologies Reports Second Quarter Results

Bottomline Technologies Reports Second Quarter Results Bottomline Technologies Reports Second Quarter Results Strong Growth in Subscription and Transaction Revenue Highlights Second Quarter PORTSMOUTH, N.H. February 1, 2017 Bottomline Technologies (NASDAQ:

More information

Bottomline Technologies Reports Fourth Quarter Results

Bottomline Technologies Reports Fourth Quarter Results Bottomline Technologies Reports Fourth Quarter Results 20% Growth in Subscription and Transaction Revenue Highlights Fourth Quarter PORTSMOUTH, N.H. August 9, 2018 Bottomline Technologies (NASDAQ:EPAY),

More information

FAIR ISAAC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)

FAIR ISAAC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) June 30, September 30, 2018 2017 ASSETS: Current assets: Cash and cash equivalents $ 119,929 $ 105,618 Accounts receivable, net 182,419 168,586 Prepaid

More information

FAIR ISAAC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)

FAIR ISAAC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) 2018 2017 ASSETS: Current assets: Cash and cash equivalents $ 90,023 $ 105,618 Accounts receivable, net 208,865 168,586 Prepaid expenses and other current

More information

Bottomline Technologies Reconciliation to Non GAAP Measures Three Months Ended June 30, 2013

Bottomline Technologies Reconciliation to Non GAAP Measures Three Months Ended June 30, 2013 Reconciliation to Measures Three Months Ended June 30, 2013 Non Cash Amortization of Equity Based Integration Restructuring Interest GAAP Intangible Assets Compensation Related Expenses Expenses Expense

More information

FAIR ISAAC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)

FAIR ISAAC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) June 30, September 30, 2016 2015 ASSETS: Current assets: Cash and cash equivalents $ 118,155 $ 86,120 Accounts receivable, net 155,196 158,773 Prepaid

More information

FAIR ISAAC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)

FAIR ISAAC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) March 31, September 30, 2016 2015 ASSETS: Current assets: Cash and cash equivalents $ 85,374 $ 86,120 Accounts receivable, net 155,207 158,773 Prepaid

More information

Bottomline Technologies Reports Fourth Quarter and Fiscal Year 2016 Results

Bottomline Technologies Reports Fourth Quarter and Fiscal Year 2016 Results Bottomline Technologies Reports Fourth Quarter and Fiscal Year 2016 Results Strong Growth in Subscription and Transaction Revenue Highlights Fourth Quarter PORTSMOUTH, N.H. August 25, 2016 Bottomline Technologies

More information

Verint Systems Inc. and Subsidiaries Supplemental Information About Non-GAAP Financial Measures

Verint Systems Inc. and Subsidiaries Supplemental Information About Non-GAAP Financial Measures Verint Systems Inc. and Subsidiaries Supplemental Information About Non-GAAP Financial Measures The following tables include a reconciliation of certain financial measures consisting of non-gaap revenue,

More information

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS , INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 504,063 $ 615,555 $ 1,654,843 $ 1,791,647 Cost of revenues 332,266 438,559 1,103,196 1,237,722 Gross

More information

Itron, Inc. Comparison of Key 2015 Financial Metrics to Preliminary Results Announced February 17, Total operating expenses 486, ,839

Itron, Inc. Comparison of Key 2015 Financial Metrics to Preliminary Results Announced February 17, Total operating expenses 486, ,839 Itron, Inc. Comparison of Key 2015 Financial Metrics to Preliminary Results Announced February 17, 2016 (Unaudited, in thousands, except per share data) (announced Feb. 17, 2016) Preliminary FY 2015 Final

More information

Verint Systems Inc. and Subsidiaries Supplemental Information About Non-GAAP Financial Measures

Verint Systems Inc. and Subsidiaries Supplemental Information About Non-GAAP Financial Measures Verint Systems Inc. and Subsidiaries Supplemental Information About Non-GAAP Financial Measures The following tables include a reconciliation of certain financial measures consisting of non-gaap revenue,

More information

Fourth Quarter and Full-Year 2018 Earnings Call February 20, 2019

Fourth Quarter and Full-Year 2018 Earnings Call February 20, 2019 Fourth Quarter and Full-Year 2018 Earnings Call February 20, 2019 1 2019 2017 ServiceSource International, Inc. All rights reserved. Important Information This presentation refers to certain non-gaap financial

More information

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS , INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 489,353 $ 482,175 $ 964,148 $ 929,711 Cost of revenues 326,312 322,587 646,572 630,000 Gross profit

More information

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS , INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 474,795 $ 447,536 Cost of revenues 320,260 307,413 Gross profit 154,535 140,123 Operating expenses

More information

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS , INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 571,640 $ 563,691 Cost of revenues 388,535 378,713 Gross profit 183,105 184,978 Operating expenses

More information

New Revenue Rules ASC 606. September 5, 2017

New Revenue Rules ASC 606. September 5, 2017 New Revenue Rules ASC 606 September 5, 2017 2 Welcome Safe Harbor Non-GAAP Financial Measures and Other Key Performance Measures To supplement our condensed consolidated financial statements, which are

More information

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS , INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 447,536 $ 571,640 Cost of revenues 307,413 388,535 Gross profit 140,123 183,105 Operating expenses

More information

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS , INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 523,335 $ 642,477 $ 2,178,178 $ 2,434,124 Cost of revenues 359,835 449,944 1,463,031 1,687,666 Gross

More information

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS , INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 470,103 $ 489,353 $ 918,350 $ 964,148 Cost of revenues 351,532 326,312 661,580 646,572 Gross profit

More information

Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands and par value)

Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands and par value) Assets Current assets: Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands and par value) As of December 31, 2015 As of 2016 (unaudited) Cash and

More information

CSG SYSTEMS INTERNATIONAL, INC. DISCLOSURES FOR NON-GAAP FINANCIAL MEASURES

CSG SYSTEMS INTERNATIONAL, INC. DISCLOSURES FOR NON-GAAP FINANCIAL MEASURES CSG SYSTEMS INTERNATIONAL, INC. DISCLOSURES FOR NON-GAAP FINANCIAL MEASURES Use of Non-GAAP Financial Measures and Limitations To supplement its condensed consolidated financial statements presented in

More information

Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands and par value)

Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands and par value) Assets Current assets: Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands and par value) As of December 31, 2015 As of December 31, 2016 (unaudited)

More information

EMC CORPORATION Consolidated Income Statements (in thousands, except per share amounts) Unaudited

EMC CORPORATION Consolidated Income Statements (in thousands, except per share amounts) Unaudited Consolidated Income Statements (in thousands, except per share amounts) Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2011 2010 2011 2010 Revenues: Product

More information

Verint Systems Inc. and Subsidiaries. Supplemental Information About Non-GAAP Financial Measures

Verint Systems Inc. and Subsidiaries. Supplemental Information About Non-GAAP Financial Measures Verint Systems Inc. and Subsidiaries Supplemental Information About Non-GAAP Financial Measures The following tables include a reconciliation of certain financial measures consisting of non-gaap revenue,

More information

Digital River, Inc. First Quarter Results (In thousands, except share data) Subject to reclassification

Digital River, Inc. First Quarter Results (In thousands, except share data) Subject to reclassification (In thousands, except share data) Consolidated Balance Sheets (Unaudited) December 31, Assets Current assets Cash and cash equivalents $ 500,742 $ 542,851 Short-term investments 144,615 162,794 Accounts

More information

GAAP/Non-GAAP Reconciliation and Other Management Metrics. 3rd Quarter 2017

GAAP/Non-GAAP Reconciliation and Other Management Metrics. 3rd Quarter 2017 GAAP/Non-GAAP Reconciliation and Other Management Metrics 3rd Quarter 2017 Use of Non-GAAP Financial Information Use of Non-GAAP Financial Information The Company occasionally utilizes financial measures

More information

Q3 FY 18 Financial Results

Q3 FY 18 Financial Results Q3 FY 18 Financial Results February 6, 2018. Forward-Looking Statements and Non-GAAP Financial Measures This presentation contains forward-looking statements, as that term is defined under the federal

More information

Bottomline Technologies Reports Third Quarter Results

Bottomline Technologies Reports Third Quarter Results Bottomline Technologies Reports Third Quarter Results Strong Revenue Growth Highlights Third Quarter PORTSMOUTH, N.H. May 1, 2014 Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based

More information

EMC CORPORATION Consolidated Income Statements (in thousands, except per share amounts) Unaudited

EMC CORPORATION Consolidated Income Statements (in thousands, except per share amounts) Unaudited EMC CORPORATION Consolidated Income Statements (in thousands, except per share amounts) Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2012 2011 2012 2011

More information

DANA HOLDING CORPORATION Quarterly Financial Information and Reconciliations of Non-GAAP Financial Measures

DANA HOLDING CORPORATION Quarterly Financial Information and Reconciliations of Non-GAAP Financial Measures Quarterly Financial Information and Reconciliations of Non-GAAP Financial Measures Non-GAAP Financial Measures Adjusted EBITDA is a non-gaap financial measure which we have defined as earnings from continuing

More information

Share-Based Compensation Expenses

Share-Based Compensation Expenses Reconciliation of GAAP to Non-GAAP Data Three Months Ended April 30, 2018 (in thousands, except percentages and per share data) GAAP Share-Based Compensation Expenses Other Operating Expenses (2) Amortization

More information

ORACLE CORPORATION. Q4 FISCAL 2013 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data)

ORACLE CORPORATION. Q4 FISCAL 2013 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) Q4 FISCAL 2013 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ( in millions, except per share data) REVENUES Software Revenues Hardware systems support Hardware Systems Revenues Services

More information

GILAT SATELLITE NETWORKS LTD. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS U.S. dollars in thousands (except share and per share data)

GILAT SATELLITE NETWORKS LTD. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS U.S. dollars in thousands (except share and per share data) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (except share and per share data) 2016 2015 2016 2015 Audited Revenues $ 279,551 $ 197,543 $ 80,345 $ 67,682 Cost of revenues 204,061 143,318 56,147 47,181

More information

EMC CORPORATION Consolidated Income Statements (in millions, except per share amounts) (unaudited)

EMC CORPORATION Consolidated Income Statements (in millions, except per share amounts) (unaudited) EMC CORPORATION Consolidated Income Statements (in millions, except per share amounts) Three Months Ended March 31, March 31, 2016 2015 Revenues: Product sales $ 2,682 $ 2,905 Services 2,793 2,708 5,475

More information

Q Financial Results

Q Financial Results Q3 2018 Financial Results November 1, 2018 Copyright Fortinet Inc. All rights reserved. 1 Safe Harbor Statement Information, statements and projections contained in these presentation slides and related

More information

KEYSIGHT TECHNOLOGIES, INC. Financial Information Index of Schedules

KEYSIGHT TECHNOLOGIES, INC. Financial Information Index of Schedules Financial Information Index of Schedules Financial Statements: Page Condensed Consolidated Statement of Operations - Three months ended 2017 and 2016 1 Condensed Consolidated Statement of Operations -

More information

ORACLE CORPORATION. Q3 FISCAL 2019 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data)

ORACLE CORPORATION. Q3 FISCAL 2019 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) % Increase Three Months Ended February 28, % Increase (Decrease) % of % of (Decrease) in Constant 2019 Revenues 2018

More information

Endurance International Group Reports 2017 Fourth Quarter and Full Year Results

Endurance International Group Reports 2017 Fourth Quarter and Full Year Results Endurance International Group Reports 2017 Fourth Quarter and Full Year Results Fiscal Year 2017 GAAP revenue of $1.177 billion Net loss of $99.8 million Adjusted EBITDA of $350.8 million Cash flow from

More information

Digital River, Inc. Fourth Quarter Results (In thousands, except share data) Subject to reclassification

Digital River, Inc. Fourth Quarter Results (In thousands, except share data) Subject to reclassification (In thousands, except share data) Consolidated Balance Sheets (Unaudited) 2012 2011 Assets Current assets Cash and cash equivalents $ 542,851 $ 497,193 Short-term investments 162,794 223,349 Accounts receivable,

More information

KEYSIGHT TECHNOLOGIES, INC. Financial Information Index of Schedules

KEYSIGHT TECHNOLOGIES, INC. Financial Information Index of Schedules Financial Information Index of Schedules Financial Statements: Page Condensed Consolidated Statement of Operations - Three months ended 2018 and 2017 1 Condensed Consolidated Statement of Operations -

More information

EMC CORPORATION Consolidated Income Statements (in millions, except per share amounts) (unaudited)

EMC CORPORATION Consolidated Income Statements (in millions, except per share amounts) (unaudited) EMC CORPORATION Consolidated Income Statements (in millions, except per share amounts) Three Months Ended Twelve Months Ended December 31, December 31, December 31, December 31, 2013 2012 2013 2012 Revenues:

More information

ORACLE CORPORATION. Q2 FISCAL 2019 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data)

ORACLE CORPORATION. Q2 FISCAL 2019 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) REVENUES Cloud license and on premise license OPERATING EXPENSES Sales and marketing Research and development General

More information

3 rd Quarter 2018 Earnings Release Conference Call

3 rd Quarter 2018 Earnings Release Conference Call 3 rd Quarter 2018 Earnings Release Conference Call October 31, 2018 1 2018 Belden Inc. belden.com @beldeninc Safe Harbor Statement Our commentary and responses to your questions may contain forward-looking

More information

ServiceNow, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (Unaudited)

ServiceNow, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (Unaudited) Condensed Consolidated Statements of Operations (in thousands, except share and per share data) Revenues: Subscription $ 179,907 $ 117,375 Professional services and other 32,057 21,715 Total revenues 211,964

More information

KEYSIGHT TECHNOLOGIES, INC. Financial Information Index of Schedules

KEYSIGHT TECHNOLOGIES, INC. Financial Information Index of Schedules Financial Information Index of Schedules Financial Statements: Page Condensed Consolidated Statement of Operations - Three months ended 2018 and 2017 1 Condensed Consolidated Statement of Operations -

More information

Salesforce Announces Fiscal 2015 Third Quarter Results

Salesforce Announces Fiscal 2015 Third Quarter Results John Cummings Salesforce Investor Relations 415-778-4188 jcummings@salesforce.com Chi Hea Cho Salesforce Public Relations 415-281-5304 chcho@salesforce.com Salesforce Announces Fiscal 2015 Third Quarter

More information

SS&C Technologies Holdings, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited)

SS&C Technologies Holdings, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) SS&C Technologies Holdings, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) 2017 2016 2017 2016 Revenues: Software-enabled services

More information

KEYSIGHT TECHNOLOGIES, INC. Financial Information Index of Schedules

KEYSIGHT TECHNOLOGIES, INC. Financial Information Index of Schedules Financial Information Index of Schedules Financial Statements: Page Condensed Consolidated Statement of Operations - Three months ended 2018 and 2017 1 Condensed Consolidated Statement of Operations -

More information

DELL INC. Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data and percentages) (unaudited)

DELL INC. Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data and percentages) (unaudited) Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data and percentages) Three Months Ended % Growth Rates October 28, July 29, October 29, 2011

More information

Itron Announces Second Quarter 2016 Financial Results

Itron Announces Second Quarter 2016 Financial Results September 1, 2016 Itron Announces Second Quarter 2016 Financial Results Updates Full-Year 2016 Guidance to Reflect Strong Business Momentum Announces New Restructuring Projects; Targeting Additional Annualized

More information

Digital River, Inc. Second Quarter Results (Unaudited, in thousands) Subject to reclassification

Digital River, Inc. Second Quarter Results (Unaudited, in thousands) Subject to reclassification (Unaudited, in thousands) Condensed Consolidated Balance Sheets As of December 31, 2008 2007 Assets: Current assets Cash and cash equivalents $ 276,927 $ 381,788 Short-term investments 201,297 315,636

More information

ServiceNow, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (Unaudited)

ServiceNow, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (Unaudited) Condensed Consolidated Statements of Operations (in thousands, except share and per share data) September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Revenues: Subscription $ 318,934

More information

Q1 FY19 Earnings Release Supplemental Material December 10, 2018

Q1 FY19 Earnings Release Supplemental Material December 10, 2018 Q1 FY19 Earnings Release Supplemental Material December 10, 2018 1 Safe Harbor Statement Certain statements made within this presentation may constitute forward-looking statements within the meaning of

More information

j2 Global Reports Fourth Quarter and Year End 2018 Results and Provides 2019 Outlook

j2 Global Reports Fourth Quarter and Year End 2018 Results and Provides 2019 Outlook j2 Global Reports Fourth Quarter and Year End 2018 Results and Provides 2019 Outlook February 12, 2019 Achieves Record Revenues Provides Fiscal 2019 Financial Estimates Announces Thirtieth Consecutive

More information

Share-Based Compensation Expenses

Share-Based Compensation Expenses Reconciliation of to Data Three Months Ended July 31, 2018 Income Tax Effects (3) of subscription services $ 87,523 $ (8,521) $ (3,787) $ $ $ 75,215 of professional services 112,707 (12,518) (519) 99,670

More information

COGNIZANT REPORTS SECOND QUARTER 2018 RESULTS

COGNIZANT REPORTS SECOND QUARTER 2018 RESULTS Exhibit 99.1 Glenpointe Centre West 500 Frank W. Burr Blvd. Teaneck, NJ 07666 COGNIZANT REPORTS SECOND QUARTER 2018 RESULTS Second quarter 2018 revenue of $4.01 billion, up 9.2% over 2017 Declares quarterly

More information

j2 Global Reports Third Quarter 2018 Results

j2 Global Reports Third Quarter 2018 Results j2 Global Reports Third Quarter 2018 Results November 6, 2018 Achieves Record Third Quarter Revenues (up 7.0% to $292.7 million vs. Q3 2017) Announces Twenty-Ninth Consecutive Quarterly Dividend Increase

More information

1st Quarter FY 2019 Earnings Presentation. August 7, 2018

1st Quarter FY 2019 Earnings Presentation. August 7, 2018 1st Quarter FY 2019 Earnings Presentation August 7, 2018 Non-GAAP financial measures We present non-gaap financial measures of performance which are derived from the unaudited condensed consolidated statements

More information

Reconciliation of Non-GAAP Metrics and Definitions

Reconciliation of Non-GAAP Metrics and Definitions Reconciliation of Non-GAAP Metrics and Definitions Definitions of Non-GAAP Financial Measures Adjusted EBITDA GAAP net income excluding the following items: interest income; income taxes; depreciation

More information

MSCI THIRD QUARTER 2016

MSCI THIRD QUARTER 2016 MSCI THIRD QUARTER 2016 Earnings Presentation October 27, 2016 2016 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end of this document. FORWARD-LOOKING STATEMENTS Forward-Looking

More information

Non-GAAP Financial Measures 19

Non-GAAP Financial Measures 19 Financial Information Index of Schedules Financial Statements: Page Condensed Consolidated Statement of Operations - Three months ended January 31, 2018 and 2017 1 Condensed Consolidated Statement of Comprehensive

More information

AKAMAI REPORTS FIRST QUARTER 2014 FINANCIAL RESULTS

AKAMAI REPORTS FIRST QUARTER 2014 FINANCIAL RESULTS FOR IMMEDIATE RELEASE Contacts: Jeff Young Tom Barth Media Relations Investor Relations Akamai Technologies Akamai Technologies 617-444-3913 617-274-7130 jyoung@akamai.com tbarth@akamai.com AKAMAI REPORTS

More information

Trimble Reports Second Quarter 2018 Results

Trimble Reports Second Quarter 2018 Results Trimble Reports Second Quarter 2018 Results August 1, 2018 - Second Quarter 2018 Revenue $785.5 million - GAAP Diluted Earnings Per Share $0.25; Diluted Earnings Per Share $0.50 SUNNYVALE, Calif., Aug.

More information

Q2 FY2018 Earnings Call. GAAP to non-gaap Reconciliations. May 17, 2018 EXTERNAL USE

Q2 FY2018 Earnings Call. GAAP to non-gaap Reconciliations. May 17, 2018 EXTERNAL USE Q2 FY Earnings Call GAAP to non-gaap Reconciliations May 17, EXTERNAL USE RESULTS Non-GAAP Adjusted Gross Profit Reported gross profit - GAAP basis Certain items associated with acquisitions 1 Non-GAAP

More information

GAAP/Non-GAAP Reconciliation and Other Management Metrics. 1st Quarter 2016

GAAP/Non-GAAP Reconciliation and Other Management Metrics. 1st Quarter 2016 GAAP/Non-GAAP Reconciliation and Other Management Metrics Use of Non-GAAP Financial Information USE OF NON-GAAP FINANCIAL INFORMATION The Company occasionally utilizes financial measures and terms not

More information

Verisign Q4 & Full Year 2012 Earnings Conference Call. January 24, 2013

Verisign Q4 & Full Year 2012 Earnings Conference Call. January 24, 2013 Verisign Q4 & Full Year 2012 Earnings Conference Call January 24, 2013 Safe Harbor Disclosure Statements in this announcement other than historical data and information constitute forward-looking statements

More information

ServiceNow, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (unaudited)

ServiceNow, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (unaudited) Condensed Consolidated Statements of Operations (in thousands, except share and per share data) Revenues: Subscription $ 166,751 $ 104,878 $ 567,217 $ 349,804 Professional services and other 31,253 20,352

More information

FOR IMMEDIATE RELEASE

FOR IMMEDIATE RELEASE FOR IMMEDIATE RELEASE For media inquiries, contact: Eric Armstrong, Citrix Systems, Inc. (954) 267-2977 or eric.armstrong@citrix.com For investor inquiries, contact: Eduardo Fleites, Citrix Systems, Inc.

More information

Q Financial Results

Q Financial Results Q4 2018 Financial Results February 6, 2019 Copyright Fortinet Inc. All rights reserved. 1 Safe Harbor Statement Information, statements and projections contained in these presentation slides and related

More information

2nd Quarter FY 2019 Earnings Presentation. November 6, 2018

2nd Quarter FY 2019 Earnings Presentation. November 6, 2018 2nd Quarter FY 2019 Earnings Presentation November 6, 2018 Non-GAAP financial measures We present non-gaap financial measures of performance which are derived from the unaudited condensed consolidated

More information

Salesforce Announces Record Third Quarter Fiscal 2019 Results

Salesforce Announces Record Third Quarter Fiscal 2019 Results John Cummings Salesforce Investor Relations 415-778-4188 jcummings@salesforce.com Gina Sheibley Salesforce Public Relations 917-297-8988 gsheibley@salesforce.com Salesforce Announces Record Third Quarter

More information

SEAGATE TECHNOLOGY PLC CONDENSED CONSOLIDATED BALANCE SHEETS

SEAGATE TECHNOLOGY PLC CONDENSED CONSOLIDATED BALANCE SHEETS CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) ASSETS Current assets: Cash and cash equivalents $ 1,125 $ 2,479 Short-term investments 6 6 Accounts receivable, net 1,318 1,735 Inventories 868 993

More information

Q Financial Results

Q Financial Results Q2 2018 Financial Results August 1, 2018 Copyright Fortinet Inc. All rights reserved. Safe Harbor Statement Information, statements and projections contained in these presentation slides and related conference

More information

Alphabet Announces First Quarter 2016 Results

Alphabet Announces First Quarter 2016 Results Exhibit 99.1 Alphabet Announces First Quarter 2016 Results MOUNTAIN VIEW, Calif. April 21, 2016 Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended. "Our Q1 results

More information

(24.2) (20.1) Other income (expense), net 3.1 (2.1 ) Consolidated income from operations before income taxes Provision for income taxes

(24.2) (20.1) Other income (expense), net 3.1 (2.1 ) Consolidated income from operations before income taxes Provision for income taxes EQUIFAX CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Three Months Ended March 31, 2017 2016 (Unaudited) Operating revenue $ 832.2 $ 728.3 Operating expenses: Cost of services

More information

quarterly overview November 17, 2005

quarterly overview November 17, 2005 quarterly overview The information contained in the pages below speaks as of the date issued. Investors should not assume that statements made in these documents remain operative at a later time. View,

More information

First Quarter 2018 Financial Review and Analysis (preliminary, unaudited)

First Quarter 2018 Financial Review and Analysis (preliminary, unaudited) First Quarter 2018 Financial Review and Analysis (preliminary, unaudited) Supplemental Presentation Materials Unless otherwise indicated, comparisons are to the same period in the prior year. 1 First Quarter

More information

INSIGHT ENTERPRISES, INC. REPORTS RECORD THIRD QUARTER 2017 RESULTS AND CONFIRMS 2017 GUIDANCE

INSIGHT ENTERPRISES, INC. REPORTS RECORD THIRD QUARTER 2017 RESULTS AND CONFIRMS 2017 GUIDANCE FOR IMMEDIATE RELEASE NASDAQ: NSIT INSIGHT ENTERPRISES, INC. REPORTS RECORD THIRD QUARTER 2017 RESULTS AND CONFIRMS 2017 GUIDANCE TEMPE, AZ November 7, 2017 Insight Enterprises, Inc. (NASDAQ: NSIT) (the

More information

Q Financial Results

Q Financial Results Q1 2018 Financial Results May 3, 2018 Copyright Fortinet Inc. All rights reserved. Safe Harbor Statement Information, statements and projections contained in these presentation slides and related conference

More information

FOR IMMEDIATE RELEASE

FOR IMMEDIATE RELEASE FOR IMMEDIATE RELEASE For media inquiries, contact: Eric Armstrong, Citrix Systems, Inc. (954) 267-2977 or eric.armstrong@citrix.com For investor inquiries, contact: Eduardo Fleites, Citrix Systems, Inc.

More information

Endurance International Group Reports 2016 Third Quarter Results

Endurance International Group Reports 2016 Third Quarter Results Endurance International Group Reports 2016 Third Quarter Results Revenue of $291.2 million Net loss of $(29.8) million Adjusted EBITDA of $85.2 million Cash flow from operations of $36.2 million Free cash

More information

4 th Quarter 2018 Earnings Release Conference Call

4 th Quarter 2018 Earnings Release Conference Call 4 th Quarter 2018 Earnings Release Conference Call February 20, 2019 1 2019 Belden Inc. belden.com @beldeninc Safe Harbor Statement Our commentary and responses to your questions may contain forward-looking

More information

Zebra Technologies Second-Quarter 2018 Results. August 7, 2018

Zebra Technologies Second-Quarter 2018 Results. August 7, 2018 Zebra Technologies Second-Quarter 2018 Results August 7, 2018 Safe Harbor Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements and are

More information

Q3 FY16 FINANCIAL RESULTS CONFERENCE CALL May 10, 2016 at 5:00 pm ET

Q3 FY16 FINANCIAL RESULTS CONFERENCE CALL May 10, 2016 at 5:00 pm ET Q3 FY16 FINANCIAL RESULTS CONFERENCE CALL May 10, 2016 at 5:00 pm ET SAFE HARBOR This presentation may contain certain comments, which are forward-looking statements that involve plans, strategies, economic

More information

EMC CORPORATION Consolidated Income Statements (in thousands, except per share amounts) Unaudited

EMC CORPORATION Consolidated Income Statements (in thousands, except per share amounts) Unaudited EMC CORPORATION Consolidated Income Statements (in thousands, except per share amounts) Six Months Ended June 30, June 30, June 30, June 30, 2012 2011 2012 2011 Revenues: Product sales $ 3,178,737 $ 3,043,984

More information

Zscaler, Inc. Supplemental Financial Information Explanation of Non-GAAP Financial Measures and Other Key Metrics

Zscaler, Inc. Supplemental Financial Information Explanation of Non-GAAP Financial Measures and Other Key Metrics Supplemental Financial Information Explanation of Non-GAAP Financial Measures and Other Key Metrics In addition to our results determined in accordance with U.S. GAAP, we believe the following non-gaap

More information

For Immediate Release Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935 ken.bond@oracle.com deborah.hellinger@oracle.com Q2 FY19

More information

Science Applications International Corporation (SAIC) Third Quarter Fiscal Year 2018 Earnings Call. December 7, 2017

Science Applications International Corporation (SAIC) Third Quarter Fiscal Year 2018 Earnings Call. December 7, 2017 Science Applications International Corporation (SAIC) Third Quarter Fiscal Year 2018 Earnings Call December 7, 2017 Supplemental Financial Information Conference Call Information Date: December 7, 2017

More information

CARBONITE (NASDAQ: CARB)

CARBONITE (NASDAQ: CARB) CARBONITE (NASDAQ: CARB) FOURTH QUARTER AND FY 2016 FINANCIAL RESULTS Thursday, February 9 th 2017 JERRY SISITSKY VP, Investor Relations Phone: 781-928-0713 Email: investor.relations@carbonite.com (NASDAQ:

More information

ON SEMICONDUCTOR CORPORATION AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS. (in millions, except per share data)

ON SEMICONDUCTOR CORPORATION AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS. (in millions, except per share data) ON SEMICONDUCTOR CORPORATION AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS (in millions, except per share data) Revenues $ 1,377.6 $ 1,377.5 $ 1,436.7 Cost of revenues (exclusive of amortization

More information

ORACLE CORPORATION. Q1 FISCAL 2016 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data)

ORACLE CORPORATION. Q1 FISCAL 2016 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) REVENUES % Increase Three Months Ended August 31, % Increase (Decrease) % of % of (Decrease) in Constant 2015 Revenues

More information

Q Preliminary Earnings Results Summary May 3, 2018

Q Preliminary Earnings Results Summary May 3, 2018 Q1 2018 Preliminary Earnings Results Summary May 3, 2018 SAFE HARBOR STATEMENT This presentation may contain projections or other forward-looking statements within the meaning Section 27A of the Private

More information