« Back |
Fourth Quarter and 2017 Revenue Increase 37% and 36% Year-over-Year, Respectively
“We generated strong fourth quarter results, which once again exceeded
the high end of our guidance for revenue and adjusted EBITDA, leading to
a banner year for 2017 with 36% year-over-year growth in revenues and
positive adjusted EBITDA for the second year in a row,” said
Fourth Quarter 2017 Financial Highlights
-
Total revenue was
$29.2 million , an increase of 37% compared to$21.3 million for the fourth quarter of 2016. -
GAAP operating loss was
$(5.2) million , compared to a GAAP operating loss of$(2.6) million for the fourth quarter of 2016. -
Non-GAAP operating income was
$0.1 million , compared to non-GAAP operating loss of$(0.9) million for the fourth quarter of 2016. Non-GAAP operating loss excludes stock-based compensation and amortization of intangible assets related to acquisitions. -
GAAP net loss was
$(5.8) million , compared to$(2.6) million for the fourth quarter of 2016. GAAP net loss per share was$(0.20) , based on 28.3 million basic and diluted weighted average common shares outstanding, compared to$(0.10) for the fourth quarter of 2016, based on 27.1 million basic and diluted weighted average common shares outstanding. -
Non-GAAP net loss was
$(0.5) million , compared to$(0.9) million in the fourth quarter of 2016. Non-GAAP net loss per share was$(0.02) , based on 28.3 million basic and diluted weighted average common shares outstanding, compared to$(0.03) for the fourth quarter of 2016, based on 27.1 million basic and diluted weighted average common shares outstanding. Non-GAAP net loss excludes stock-based compensation and amortization of intangible assets related to acquisitions. -
Adjusted EBITDA was
$1.8 million , compared to$0.4 million in the fourth quarter of 2016. Adjusted EBITDA represents net loss before interest income and interest expense, income tax expense and benefit, depreciation and amortization expense and stock-based compensation expense. -
Cash flow from operations was
$0.5 million compared to$3.0 million for the fourth quarter of 2016. -
Free cash flow was an outflow of
$(1.4) million compared to free cash of$1.5 million for the fourth quarter of 2016. Free cash flow is cash flow from operations, less cash used for capital expenditures and additions to capitalized software development costs.
Full Year 2017 Financial Highlights
-
Total revenue was
$104.4 million , an increase of 36% compared to$76.8 million for 2016. -
GAAP operating loss was
$(19.3) million , compared to a GAAP operating loss of$(10.8) million for 2016. -
Non-GAAP operating loss was
$(6.2) million , compared to non-GAAP operating loss of$(4.5) million for 2016. -
GAAP net loss was
$(19.6) million , compared to$(11.3) million for 2016. GAAP net loss per share was$(0.70) , based on 27.9 million basic and diluted weighted average common shares outstanding, compared to$(0.68) for 2016, based on 16.7 million basic and diluted weighted average common shares outstanding. -
Non-GAAP net loss was
$(6.6) million , compared to$(5.0) million in 2016. Non-GAAP net loss per share was$(0.24) , based on 27.9 million basic and diluted weighted average common shares outstanding, compared to$(0.30) for 2016, based on 16.7 million basic and diluted weighted average common shares outstanding. -
Adjusted EBITDA was
$0.1 million , compared to$0.0 million in 2016. -
Cash flow from operations was
$4.9 million compared to$9.5 million for 2016. -
Free cash flow was an outflow of
$(3.0) million compared to free cash of$3.0 million for 2016. -
Cash and cash equivalents as of
December 31, 2017 totaled$102.8 million , an increase from$23.6 million as ofSeptember 30, 2017 , primarily due to proceeds from a convertible notes offering completed during the fourth quarter.
Recent Business Highlights
- Ended 2017 with 3,711 global customers, up from 3,205 at the end of 2016.
-
Selected by the
New York City Emergency Management Department as the new mass notification platform for its citywide Notify NYC program. -
Selected by the
Vermont Department of Public Safety ,Division of Emergency Management as the new mass notification service provider for its state-wide VT-ALERT program. -
Announced offer to acquire
Unified Messaging Systems to enhance product offerings and expand geographic footprint.
Business Outlook
Based on information available as of today,
First Quarter 2018 |
Full Year 2018 |
|||||||||||||||
Total Revenue |
$29.4 | to | $29.7 | $135.6 | to | $137.1 | ||||||||||
GAAP net income/(loss) |
$(12.5) | $(12.2) | $(46.0) | $(45.0) | ||||||||||||
GAAP net income/(loss) per share |
$(0.44) | $(0.43) | $(1.60) | $(1.56) | ||||||||||||
Non-GAAP net income/(loss) |
$(6.0) | $(5.7) | $(17.6) |
$(16.6) |
||||||||||||
Non-GAAP net income/(loss) per share |
$(0.21) | $(0.20) | $(0.61) | $(0.58) | ||||||||||||
Basic and diluted weighted average shares outstanding |
28.5 | 28.5 | 28.8 | 28.8 | ||||||||||||
Adjusted EBITDA |
$(2.8) | $(2.5) | $(4.0) | $(3.0) |
(All figures in millions, except per share data)
Conference Call Information
What: | Everbridge Fourth Quarter and Full Year 2017 Financial Results Conference Call | |||
When: | Wednesday, February 21, 2018 | |||
Time: | 4:30 p.m. ET | |||
Live Call: | (844) 413-0949, domestic | |||
(216) 562-0459, international | ||||
Replay: | (855) 859-2056, passcode2669359, domestic | |||
(404) 537-3406, passcode2669359, international | ||||
Webcast (live & replay): |
http://ir.everbridge.com/phoenix.zhtml?c=254229&p=irol-EventDetails&EventId=5267538 |
|||
About
Non-GAAP Financial Measures
This press release contains the following non-GAAP financial measures: non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP gross margin, non-GAAP sales and marketing, non-GAAP research and development, non-GAAP general and administrative, non-GAAP operating expenses, non-GAAP operating income/(loss), non-GAAP net income/(loss), non-GAAP net income/(loss) per share, adjusted EBITDA, and free cash flow.
We believe that these non-GAAP measures of financial results provide
useful information to management and investors regarding certain
financial and business trends relating to
We do not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in the Company's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, management presents non-GAAP financial measures in connection with GAAP results. We urge investors to review the reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures, which are included in this press release, and not to rely on any single financial measure to evaluate our business.
Cautionary Language Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995, including but not limited to, statements
regarding the anticipated opportunity and trends for growth in our
critical communications and enterprise safety applications and our
overall business, our market opportunity, our expectations regarding
sales of our products, our goal to maintain market leadership and extend
the markets in which we compete for customers, and our expected
financial results for the first quarter of 2018 and the full fiscal year
2018. These forward-looking statements are made as of the date of this
press release and were based on current expectations, estimates,
forecasts and projections as well as the beliefs and assumptions of
management. Words such as "expect," "anticipate," "should," "believe,"
"target," "project," "goals," "estimate," "potential," "predict," "may,"
"will," "could," "intend," variations of these terms or the negative of
these terms and similar expressions are intended to identify these
forward-looking statements. Forward-looking statements are subject to a
number of risks and uncertainties, many of which involve factors or
circumstances that are beyond our control. Our actual results could
differ materially from those stated or implied in forward-looking
statements due to a number of factors, including but not limited to: the
ability of our products and services to perform as intended and meet our
customers’ expectations; our ability to attract new customers and retain
and increase sales to existing customers; our ability to increase sales
of our Mass Notification application and/or ability to increase sales of
our other applications; developments in the market for targeted and
contextually relevant critical communications or the associated
regulatory environment; our estimates of market opportunity and
forecasts of market growth may prove to be inaccurate; we have not been
profitable on a consistent basis historically and may not achieve or
maintain profitability in the future; the lengthy and unpredictable
sales cycles for new customers; nature of our business exposes us to
inherent liability risks; our ability to attract, integrate and retain
qualified personnel; our ability to successfully integrate businesses
and assets that we have acquired or may acquire in the future; our
ability to maintain successful relationships with our channel partners
and technology partners; our ability to manage our growth effectively;
our ability to respond to competitive pressures; potential liability
related to privacy and security of personally identifiable information;
our ability to protect our intellectual property rights, and the other
risks detailed in our risk factors discussed in filings with the
All
Consolidated Balance Sheets | ||||||||||||
(in thousands) | ||||||||||||
(unaudited) | ||||||||||||
December |
December 31, |
|||||||||||
Current assets: | ||||||||||||
Cash and cash equivalents | $ | 102,754 | $ | 60,765 | ||||||||
Restricted cash | 297 | - | ||||||||||
Short-term investments | 42,908 | - | ||||||||||
Accounts receivable, net | 31,699 | 17,812 | ||||||||||
Prepaid expenses | 2,563 | 1,770 | ||||||||||
Other current assets | 3,240 | 2,536 | ||||||||||
Total current assets | 183,461 | 82,883 | ||||||||||
Property and equipment, net | 2,796 | 2,923 | ||||||||||
Capitalized software development costs, net | 10,005 | 8,792 | ||||||||||
Goodwill | 31,328 | 9,676 | ||||||||||
Intangible assets, net | 8,634 | 3,940 | ||||||||||
Other assets | 189 | 108 | ||||||||||
Total assets | $ | 236,413 | $ | 108,322 | ||||||||
Current liabilities: | ||||||||||||
Accounts payable | $ | 2,446 | $ | 2,434 | ||||||||
Accrued payroll and employee related liabilities | 11,111 | 7,456 | ||||||||||
Accrued expenses | 1,825 | 1,957 | ||||||||||
Deferred revenue | 70,090 | 51,388 | ||||||||||
Contingent consideration liabilities | 682 | - | ||||||||||
Other current liabilities | 808 | 548 | ||||||||||
Total current liabilities | 86,962 | 63,783 | ||||||||||
Long-term liabilities: | ||||||||||||
Deferred revenue, noncurrent | 2,982 | 1,246 | ||||||||||
Convertible debt | 89,481 | - | ||||||||||
Deferred tax liabilities | 482 | 494 | ||||||||||
Other long term liabilities | 515 | 447 | ||||||||||
Total liabilities | $ | 180,422 | $ | 65,970 | ||||||||
Stockholders' equity: | ||||||||||||
Common stock | 28 | 27 | ||||||||||
Additional paid-in capital | 164,995 | 132,246 | ||||||||||
Accumulated deficit | (109,252 | ) | (89,618 | ) | ||||||||
Accumulated other comprehensive income (loss) | 220 | (303 | ) | |||||||||
Total stockholders' equity | 55,991 | 42,352 | ||||||||||
Total liabilities and stockholders' equity | $ | 236,413 | $ | 108,322 | ||||||||
Consolidated Statements of Comprehensive Loss | ||||||||||||||||||||||
(in thousands, except share and per share data) | ||||||||||||||||||||||
(unaudited) | ||||||||||||||||||||||
Three months ended | Year ended | |||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||||||||
Revenue | $ | 29,175 | $ | 21,280 | $ | 104,352 | $ | 76,846 | ||||||||||||||
Cost of revenue | 8,534 | 6,443 | 31,503 | 23,767 | ||||||||||||||||||
Gross profit | 20,641 | 14,837 | 72,849 | 53,079 | ||||||||||||||||||
70.75 | % | 69.72 | % | 69.81 | % | 69.07 | % | |||||||||||||||
Operating expenses: | ||||||||||||||||||||||
Sales and marketing | 13,409 | 9,188 | 46,998 | 34,847 | ||||||||||||||||||
Research and development | 6,159 | 4,205 | 22,241 | 14,765 | ||||||||||||||||||
General and administrative | 6,255 | 4,041 | 22,895 | 14,293 | ||||||||||||||||||
Total operating expenses | 25,823 | 17,434 | 92,134 | 63,905 | ||||||||||||||||||
Operating loss | (5,182 | ) | (2,597 | ) | (19,285 | ) | (10,826 | ) | ||||||||||||||
Other income (expense): | ||||||||||||||||||||||
Interest and investment income | 241 | 34 | 475 | 34 | ||||||||||||||||||
Interest expense | (686 | ) | - | (691 | ) | (506 | ) | |||||||||||||||
Other income (expense), net | (25 | ) | (14 | ) | (86 | ) | (12 | ) | ||||||||||||||
Total other income (expense), net | (470 | ) | 20 | (302 | ) | (484 | ) | |||||||||||||||
Loss before income taxes | (5,652 | ) | (2,577 | ) | (19,587 | ) | (11,310 | ) | ||||||||||||||
Income taxes, net | (112 | ) | (51 | ) | (47 | ) | 24 | |||||||||||||||
Net loss | $ | (5,764 | ) | $ | (2,628 | ) | $ | (19,634 | ) | $ | (11,286 | ) | ||||||||||
Net loss per share attributable to common stockholders: | ||||||||||||||||||||||
Basic | $ | (0.20 | ) | $ | (0.10 | ) | $ | (0.70 | ) | $ | (0.68 | ) | ||||||||||
Diluted | $ | (0.20 | ) | $ | (0.10 | ) | $ | (0.70 | ) | $ | (0.68 | ) | ||||||||||
Weighted-average common shares outstanding: | ||||||||||||||||||||||
Basic | 28,286,286 | 27,149,528 | 27,862,375 | 16,659,561 | ||||||||||||||||||
Diluted | 28,286,286 | 27,149,528 | 27,862,375 | 16,659,561 | ||||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||||
Foreign currency translation adjustment, net | 200 | 10 | 523 | (290 | ) | |||||||||||||||||
of tax | ||||||||||||||||||||||
Total comprehensive loss | $ | (5,564 | ) | $ | (2,618 | ) | $ | (19,111 | ) | $ | (11,576 | ) | ||||||||||
Stock-based compensation expense included in the above: | ||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||
Three months ended | Year ended | |||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||||||||
Cost of revenue | $ | 312 | $ | 45 | $ | 578 | $ | 180 | ||||||||||||||
Sales and marketing | 1,169 | 222 | 2,419 | 725 | ||||||||||||||||||
Research and development | 776 | 85 | 1,514 | 348 | ||||||||||||||||||
General and administrative | 2,170 | 584 | 4,788 | 1,848 | ||||||||||||||||||
Total stock-based compensation | $ | 4,427 | $ | 936 | $ | 9,299 | $ | 3,101 | ||||||||||||||
Consolidated Statements of Cash Flows | ||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||
(unaudited) | ||||||||||||||||||||||
Three months ended | Year ended | |||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||
Net loss | $ | (5,764 | ) | $ | (2,628 | ) | $ | (19,634 | ) | $ | (11,286 | ) | ||||||||||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||||||||||||||||
Depreciation and amortization | 2,561 | 2,067 | 10,207 | 7,742 | ||||||||||||||||||
Loss on disposal of assets | - | - | 15 | 74 | ||||||||||||||||||
Non-cash investment income | (130 | ) | - | (204 | ) | - | ||||||||||||||||
Deferred income taxes | (109 | ) | 86 | (47 | ) | (138 | ) | |||||||||||||||
Non-cash interest expense on debt | 493 | - | 493 | 67 | ||||||||||||||||||
Provision for doubtful accounts and sales return reserve | 49 | 292 | 637 | 387 | ||||||||||||||||||
Stock-based compensation | 4,380 | 929 | 9,218 | 3,056 | ||||||||||||||||||
Change in fair value of contingent consideration obligation | (1,020 | ) | - | (1,020 | ) | - | ||||||||||||||||
Increase (decrease) in operating assets and liabilities: | ||||||||||||||||||||||
Accounts receivable, net | (9,476 | ) | (1,904 | ) | (13,067 | ) | (2,295 | ) | ||||||||||||||
Prepaid expenses | 1,001 | 840 | (551 | ) | (348 | ) | ||||||||||||||||
Other assets | 195 | 647 | (785 | ) | (1,096 | ) | ||||||||||||||||
Accounts payable | (910 | ) | (674 | ) | (90 | ) | (423 | ) | ||||||||||||||
Accrued payroll and employee related liabilities | 1,333 | (246 | ) | 3,596 | 1,312 | |||||||||||||||||
Accrued expenses | (78 | ) | 234 | (132 | ) | 539 | ||||||||||||||||
Deferred revenue | 8,577 | 3,377 | 16,378 | 11,982 | ||||||||||||||||||
Other liabilities | (618 | ) | (52 | ) | (151 | ) | (70 | ) | ||||||||||||||
Net cash provided by operating activities | 484 | 2,968 | 4,863 | 9,503 | ||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||
Capital expenditures | (330 | ) | (231 | ) | (1,667 | ) | (970 | ) | ||||||||||||||
Proceeds from sale of leaseback transaction | - | - | 794 | - | ||||||||||||||||||
Payments for acquisition of business, net of acquired cash | - | (2,306 | ) | (21,235 | ) | (2,306 | ) | |||||||||||||||
Additions to capitalized software development costs | (1,574 | ) | (1,200 | ) | (6,160 | ) | (5,494 | ) | ||||||||||||||
Change in restricted cash | - | - | (294 | ) | - | |||||||||||||||||
Purchase of short-term investments | (30,809 | ) | - | (60,764 | ) | - | ||||||||||||||||
Maturities of short-term investments | 12,060 | - | 18,060 | - | ||||||||||||||||||
Purchase of intangibles | - | (250 | ) | - | (250 | ) | ||||||||||||||||
Net cash used in investing activities | (20,653 | ) | (3,987 | ) | (71,266 | ) | (9,020 | ) | ||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||
Proceeds from line of credit | - | - | - | 9,500 | ||||||||||||||||||
Payments on line of credit | - | - | - | (19,500 | ) | |||||||||||||||||
Principal payments on capital leases | - | - | - | (58 | ) | |||||||||||||||||
Payments of issuance costs relating to the line of credit and term loan | - | - | - | (19 | ) | |||||||||||||||||
Proceeds from public offering, net | - | - | 10,444 | 69,750 | ||||||||||||||||||
Payments of public offering costs | - | (588 | ) | (872 | ) | (1,960 | ) | |||||||||||||||
Proceeds from issuance of convertible notes | 115,000 | - | 115,000 | - | ||||||||||||||||||
Payments of debt issuance costs | (3,794 | ) | - | (3,834 | ) | - | ||||||||||||||||
Purchase of convertible note capped call hedge | (12,922 | ) | - | (12,922 | ) | - | ||||||||||||||||
Payment on term loan |
- |
- |
- |
(5,000 | ) | |||||||||||||||||
Payment on note payable | - | - | - | (2,018 | ) | |||||||||||||||||
Payments on contingent consideration | - | - | (3,750 | ) | - | |||||||||||||||||
Proceeds from employee stock purchase plan | - | - | 1,540 | - | ||||||||||||||||||
Proceeds from option exercises | 782 | 2 | 2,869 | 750 | ||||||||||||||||||
Proceeds from exercise of warrants | - | - | - | 25 | ||||||||||||||||||
Net cash provided by (used in) financing activities | 99,066 | (586 | ) | 108,475 | 51,470 | |||||||||||||||||
Effect of exchange rates on cash and cash equivalents | 229 | 74 | (83 | ) | 234 | |||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 79,126 | (1,531 | ) | 41,989 | 52,187 | |||||||||||||||||
Cash and cash equivalents, beginning of period | 23,628 | 62,296 | 60,765 | 8,578 | ||||||||||||||||||
Cash and cash equivalents, end of period | $ | 102,754 | $ | 60,765 | $ | 102,754 | $ | 60,765 | ||||||||||||||
Reconciliation of GAAP measures to non-GAAP measures | ||||||||||||||||||||||
(in thousands, except share and per share data) | ||||||||||||||||||||||
(unaudited) | ||||||||||||||||||||||
Three months ended | Year ended | |||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||||||||
Cost of revenue | $ | 8,534 | $ | 6,443 | $ | 31,503 | $ | 23,767 | ||||||||||||||
Amortization of acquired intangibles | (289 | ) | (567 | ) | (1,614 | ) | (2,318 | ) | ||||||||||||||
Stock-based compensation | (312 | ) | (45 | ) | (578 | ) | (180 | ) | ||||||||||||||
Non-GAAP cost of revenue | 7,933 | 5,831 | 29,311 | 21,269 | ||||||||||||||||||
Gross profit | 20,641 | 14,837 | 72,849 | 53,079 | ||||||||||||||||||
Amortization of acquired intangibles | 289 | 567 | 1,614 | 2,318 | ||||||||||||||||||
Stock-based compensation | 312 | 45 | 578 | 180 | ||||||||||||||||||
Non-GAAP gross profit | 21,242 | 15,449 | 75,041 | 55,577 | ||||||||||||||||||
Non-GAAP gross margin | 72.81 | % | 72.60 | % | 71.91 | % | 72.32 | % | ||||||||||||||
Sales and marketing | 13,409 | 9,188 | 46,998 | 34,847 | ||||||||||||||||||
Stock-based compensation | (1,169 | ) | (222 | ) | (2,419 | ) | (725 | ) | ||||||||||||||
Non-GAAP sales and marketing | 12,240 | 8,966 | 44,579 | 34,122 | ||||||||||||||||||
Research and development | 6,159 | 4,205 | 22,241 | 14,765 | ||||||||||||||||||
Stock-based compensation | (776 | ) | (85 | ) | (1,514 | ) | (348 | ) | ||||||||||||||
Non-GAAP research and development | 5,383 | 4,120 | 20,727 | 14,417 | ||||||||||||||||||
General and administrative | 6,255 | 4,041 | 22,895 | 14,293 | ||||||||||||||||||
Amortization of acquired intangibles | (561 | ) | (215 | ) | (2,123 | ) | (916 | ) | ||||||||||||||
Stock-based compensation | (2,170 | ) | (584 | ) | (4,788 | ) | (1,848 | ) | ||||||||||||||
Non-GAAP general and administrative | 3,524 | 3,242 | 15,984 | 11,529 | ||||||||||||||||||
Total operating expenses | 25,823 | 17,434 | 92,134 | 63,905 | ||||||||||||||||||
Amortization of acquired intangibles | (561 | ) | (215 | ) | (2,123 | ) | (916 | ) | ||||||||||||||
Stock-based compensation | (4,115 | ) | (891 | ) | (8,721 | ) | (2,921 | ) | ||||||||||||||
Non-GAAP operating expenses | $ | 21,147 | $ | 16,328 | $ | 81,290 | $ | 60,068 | ||||||||||||||
Operating loss | $ | (5,182 | ) | $ | (2,597 | ) | $ | (19,285 | ) | $ | (10,826 | ) | ||||||||||
Amortization of acquired intangibles | 850 | 782 | 3,737 | 3,234 | ||||||||||||||||||
Stock-based compensation | 4,427 | 936 | 9,299 | 3,101 | ||||||||||||||||||
Non-GAAP operating income (loss) | $ | 95 | $ | (879 | ) | $ | (6,249 | ) | $ | (4,491 | ) | |||||||||||
Net loss | $ | (5,764 | ) | $ | (2,628 | ) | $ | (19,634 | ) | $ | (11,286 | ) | ||||||||||
Amortization of acquired intangibles | 850 | 782 | 3,737 | 3,234 | ||||||||||||||||||
Stock-based compensation | 4,427 | 936 | 9,299 | 3,101 | ||||||||||||||||||
Non-GAAP net loss | $ | (487 | ) | $ | (910 | ) | $ | (6,598 | ) | $ | (4,951 | ) | ||||||||||
Weighted average common shares outstanding, basic and diluted | 28,286,286 | 27,149,528 | 27,862,375 | 16,659,561 | ||||||||||||||||||
Non-GAAP net loss per share | $ | (0.02 | ) | $ | (0.03 | ) | $ | (0.24 | ) | $ | (0.30 | ) | ||||||||||
Net loss | $ | (5,764 | ) | $ | (2,628 | ) | $ | (19,634 | ) | $ | (11,286 | ) | ||||||||||
Interest (income) expense, net | 445 | (34 | ) | 216 | 472 | |||||||||||||||||
Income taxes, net | 112 | 51 | 47 | (24 | ) | |||||||||||||||||
Depreciation and amortization | 2,561 | 2,067 | 10,207 | 7,742 | ||||||||||||||||||
EBITDA | (2,646 | ) | (544 | ) | (9,164 | ) | (3,096 | ) | ||||||||||||||
Stock-based compensation | 4,427 | 936 | 9,299 | 3,101 | ||||||||||||||||||
Adjusted EBITDA | $ | 1,781 | $ | 392 | $ | 135 | $ | 5 | ||||||||||||||
Net cash provided by operating activities | $ | 484 | $ | 2,968 | $ | 4,863 | $ | 9,503 | ||||||||||||||
Capital expenditures | (330 | ) | (231 | ) | (1,667 | ) | (970 | ) | ||||||||||||||
Additions to capitalized software development costs | (1,574 | ) | (1,200 | ) | (6,160 | ) | (5,494 | ) | ||||||||||||||
Free cash flow | $ | (1,420 | ) | $ | 1,537 | $ | (2,964 | ) | $ | 3,039 | ||||||||||||
(Continued) Reconciliation of GAAP measures to non-GAAP measures | |||||||||||||||||||||||
(in millions, except share and per share data) | |||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||
Business outlook: | Three months ended | Year ended | |||||||||||||||||||||
March 31, 2018 | December 31, 2018 | ||||||||||||||||||||||
Low end | High end | Low end | High end | ||||||||||||||||||||
Net loss | $ | (12.5 | ) | $ | (12.2 | ) | $ | (46.0 | ) | $ | (45.0 | ) | |||||||||||
Amortization of acquired intangibles | 0.8 | 0.8 | 3.3 | 3.3 | |||||||||||||||||||
Stock-based compensation | 5.7 | 5.7 | 25.1 | 25.1 | |||||||||||||||||||
Non-GAAP net loss |
$ | (6.0 | ) | $ | (5.7 | ) | $ | (17.6 | ) | $ | (16.6 | ) | |||||||||||
Weighted average common shares outstanding, basic and diluted | 28,500,000 | 28,500,000 | 28,800,000 | 28,800,000 | |||||||||||||||||||
Net loss per share | $ | (0.44 | ) | $ | (0.43 | ) | $ | (1.60 | ) | $ | (1.56 | ) | |||||||||||
Non-GAAP net loss per share | $ | (0.21 | ) | $ | (0.20 | ) | $ | (0.61 | ) | $ | (0.58 | ) | |||||||||||
Net loss | $ | (12.5 | ) | $ | (12.2 | ) | $ | (46.0 | ) | $ | (45.0 | ) | |||||||||||
Interest income (expense), net | 1.3 | 1.3 | 5.6 | 5.6 | |||||||||||||||||||
Benefit from income taxes | - | - | - | - | |||||||||||||||||||
Depreciation and amortization | 2.7 | 2.7 | 11.3 | 11.3 | |||||||||||||||||||
EBITDA | (8.5 | ) | (8.2 | ) | (29.1 | ) | (28.1 | ) | |||||||||||||||
Stock-based compensation | 5.7 | 5.7 | 25.1 | 25.1 | |||||||||||||||||||
Adjusted EBITDA | $ | (2.8 | ) | $ | (2.5 | ) | $ | (4.0 | ) | $ | (3.0 | ) | |||||||||||
View source version on businesswire.com: http://www.businesswire.com/news/home/20180221006378/en/
Source:
Media Contact:
Everbridge
Jeff Benanto, 781-373-9879
jeff.benanto@everbridge.com
or
Investor
Contact:
ICR
Garo Toomajanian, 818-230-9712
ir@everbridge.com