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Fourth Quarter and 2016 Revenue Increase 31% Year-over-Year
Industry’s First Critical Event Management Platform Elevates Strategic Value
“Continued business momentum contributed to a strong finish in 2016.
Revenue and adjusted EBITDA both exceeded the high end of our guidance
ranges,” said
Ellertson continued, “Our enthusiasm in 2017 is enhanced by the new capabilities enabled by our recent acquisitions of Crisis Commander and IDV Solutions. The combination of our mass notification technology and IDV’s Visual Command Center enables us to offer the industry’s first Critical Event Management Platform. We believe this platform will expand our value proposition and increase our market opportunity while elevating our strategic position with customers and expanding our usage throughout the enterprise space. As such, we believe we are better positioned than ever to extend our market leadership in an underpenetrated market as our business continues to scale.”
Fourth Quarter 2016 Financial Highlights
-
Total revenue was
$21.3 million , an increase of 31% compared to$16.2 million for the fourth quarter of 2015. -
GAAP operating loss was
$(2.6) million , compared to a GAAP operating loss of$(4.0) million for the fourth quarter of 2015. -
Non-GAAP operating loss was
$(0.9) million , compared to non-GAAP operating loss of$(2.5) million for the fourth quarter of 2015. Non-GAAP operating loss excludes stock-based compensation and amortization of intangible assets related to acquisitions. -
GAAP net loss was
$(2.6) million , compared to$(4.0) million for the fourth quarter of 2015. GAAP net loss per share was$(0.10) , based on 27.1 million basic and diluted weighted average common shares outstanding, compared to$(0.33) for the fourth quarter of 2015, based on 12.3 million basic and diluted weighted average common shares outstanding. -
Non-GAAP net loss was
$(0.9) million , compared to$(2.5) million in the fourth quarter of 2015. Non-GAAP net loss per share was$(0.03) , based on 27.1 million basic and diluted weighted average common shares outstanding, compared to$(0.20) for the fourth quarter of 2015, based on 12.3 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
$0.4 million , compared to$(1.7) million in the fourth quarter of 2015. 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
$3.0 million compared to$0.4 million for the fourth quarter of 2015. -
Free cash flow was
$1.5 million compared to$(1.1) million for the fourth quarter of 2015. Free cash flow is cash flow from operations, less cash used for capital expenditures and additions to capitalized software development costs.
Full Year 2016 Financial Highlights
-
Total revenue was
$76.8 million , an increase of 31% compared to$58.7 million for 2015. -
GAAP operating loss was
$(10.8) million , compared to a GAAP operating loss of$(10.8) million for 2015. -
Non-GAAP operating loss was
$(4.5) million , compared to non-GAAP operating loss of$(6.2) million for 2015. -
GAAP net loss was
$(11.3) million , compared to$(10.8) million for 2015. GAAP net loss per share was$(0.68) , based on 16.7 million basic and diluted weighted average common shares outstanding, compared to$(0.88) for 2015, based on 12.3 million basic and diluted weighted average common shares outstanding. -
Non-GAAP net loss was
$(5.0) million , compared to$(6.2) million in 2015. Non-GAAP net loss per share was$(0.30) , based on 16.7 million basic and diluted weighted average common shares outstanding, compared to$(0.51) for 2015, based on 12.3 million basic and diluted weighted average common shares outstanding. -
Adjusted EBITDA was
$0.0 million , compared to$(3.4) million in 2015. -
Cash flow from operations was
$9.5 million compared to$4.5 million for 2015. -
Free cash flow was
$3.0 million compared to$(3.0) million for 2015. -
Cash as of
December 31, 2016 totaled$60.8 million , compared to$62.3 million as ofSeptember 30, 2016 .
Recent Business Highlights
- Ended 2016 with 3,205 global customers, up from 2,662 at the end of 2015.
- Unveiled the Everbridge Fall 2016 Product Release which improves the way that communities and corporations of all sizes can assess threats, locate key people, automate processes and communicate effectively.
-
Acquired
Sweden -basedSvensk Krisledning AB inDecember 2016 , the developer of the SaaS mobile crisis management solution, Crisis Commander. The acquired solution extends the Everbridge Suite by enabling complementary mobile collaboration, task assignment and response management during critical events. -
Acquired IDV
Solutions, LLC in
January 2017 , a leading provider of threat assessment and operational visualization software. In combination with Everbridge’s critical communication, incident management and employee safety capabilities, IDV’s Visual Command Center® application will form a key component of the industry’s first Critical Event Management™ (CEM) platform for dynamically assessing, responding to, and managing the resolution of the wide range of threats and disruptions which impact organizations’ daily operations.
Business Outlook
Based on information available as of today,
First Quarter 2017 |
Full Year 2017 |
|||||||||||||||||
Total Revenue |
$22.0 | to | $22.2 | $100.0 | to | $101.0 | ||||||||||||
GAAP net income/(loss) |
$(7.8) | $(7.6) | $(18.1) | $(17.1) | ||||||||||||||
GAAP net income/(loss) per share | $(0.29) | $(0.28) | $(0.66) | $(0.63) | ||||||||||||||
Non-GAAP net income/(loss) |
$(5.2) | $(5.0) | $(9.1) | $(8.1) | ||||||||||||||
Non-GAAP net income/(loss) per share |
$(0.19) | $(0.18) | $(0.33) | $(0.30) | ||||||||||||||
Basic and diluted weighted average shares outstanding |
27.18 | 27.18 | 27.35 | 27.35 | ||||||||||||||
Adjusted EBITDA |
$(3.7) | $(3.5) | $(2.8) | $(1.8) | ||||||||||||||
(All figures in millions, except per share)
Conference Call Information
What: | Everbridge Fourth Quarter and Full Year 2016 Financial Results Conference Call | ||
When: | Monday, February 27, 2017 | ||
Time: | 4:30 p.m. ET | ||
Live Call: |
(844) 413-0949, domestic |
||
Replay: |
(855) 859-2056, passcode 60646265, domestic |
||
Webcast (live & replay): |
http://ir.everbridge.com/phoenix.zhtml?c=254229&p=irol-calendar |
||
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 2017 and the full fiscal year
2017. 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: 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; our ability to successfully integrate businesses and
assets that we have acquired or may acquire in the future; 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 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 31, |
December 31, |
||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | 60,765 | $ | 8,578 | |||||||
Accounts receivable, net | 17,812 | 15,699 | |||||||||
Prepaid expenses | 1,770 | 1,371 | |||||||||
Other current assets | 2,536 | 3,972 | |||||||||
Total current assets | 82,883 | 29,620 | |||||||||
Property and equipment, net | 2,923 | 3,620 | |||||||||
Capitalized software development costs, net | 8,792 | 8,178 | |||||||||
Goodwill | 9,676 | 7,839 | |||||||||
Intangible assets, net | 3,940 | 4,119 | |||||||||
Other assets | 108 | 133 | |||||||||
Total assets | $ | 108,322 | $ | 53,509 | |||||||
Current liabilities: | |||||||||||
Accounts payable | $ | 2,434 | $ | 3,521 | |||||||
Accrued payroll and employee related liabilities | 7,456 | 6,062 | |||||||||
Accrued expenses | 1,957 | 1,460 | |||||||||
Term loan | - | 830 | |||||||||
Deferred revenue | 50,412 | 39,159 | |||||||||
Notes payable | - | 2,018 | |||||||||
Other current liabilities | 548 | 569 | |||||||||
Total current liabilities | 62,807 | 53,619 | |||||||||
Long-term liabilities: | |||||||||||
Deferred revenue, noncurrent | 2,222 | 1,308 | |||||||||
Line of credit | - | 9,976 | |||||||||
Term loan, net of current portion | - | 4,146 | |||||||||
Deferred tax liabilities | 494 | 345 | |||||||||
Other long-term liabilities |
447 | 166 | |||||||||
Total liabilities | $ | 65,970 | $ | 69,560 | |||||||
Stockholders' equity (deficit): | |||||||||||
Series A preferred stock | $ | - | $ | 3 | |||||||
Series A-1 preferred stock | - | 5 | |||||||||
Class A common stock | - | 1 | |||||||||
Common stock | 27 | 11 | |||||||||
Additional paid-in capital | 132,246 | 62,274 | |||||||||
Accumulated deficit | (89,618 | ) | (78,332 | ) | |||||||
Accumulated other comprehensive loss | (303 | ) | (13 | ) | |||||||
Total stockholders' equity (deficit) | 42,352 | (16,051 | ) | ||||||||
Total liabilities and stockholders' equity (deficit) | $ | 108,322 | $ | 53,509 |
Consolidated Statements of Comprehensive Loss | ||||||||||||||||||||||
(in thousands, except share and per share data) | ||||||||||||||||||||||
(unaudited) |
||||||||||||||||||||||
Three months ended | Year ended | |||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||||||||
Revenue | $ | 21,280 | $ | 16,220 | $ | 76,846 | $ | 58,720 | ||||||||||||||
Cost of revenue | 6,443 | 5,579 | 23,767 | 19,789 | ||||||||||||||||||
Gross profit | 14,837 | 10,641 | 53,079 | 38,931 | ||||||||||||||||||
69.72 | % | 65.60 | % | 69.07 | % | 66.30 | % | |||||||||||||||
Operating expenses: | ||||||||||||||||||||||
Sales and marketing | 9,188 | 7,827 | 34,847 | 25,925 | ||||||||||||||||||
Research and development | 4,205 | 3,027 | 14,765 | 11,521 | ||||||||||||||||||
General and administrative | 4,041 | 3,831 | 14,293 | 12,272 | ||||||||||||||||||
Total operating expenses | 17,434 | 14,685 | 63,905 | 49,718 | ||||||||||||||||||
Operating loss | (2,597 | ) | (4,044 | ) | (10,826 | ) | (10,787 | ) | ||||||||||||||
Other income (expense): | ||||||||||||||||||||||
Interest income | 34 | - | 34 | 1 | ||||||||||||||||||
Interest expense | - | (133 | ) | (506 | ) | (538 | ) | |||||||||||||||
Other income (expense), net | (14 | ) | (10 | ) | (12 | ) | (62 | ) | ||||||||||||||
Total other income (expense), net | 20 | (143 | ) | (484 | ) | (599 | ) | |||||||||||||||
Loss before income taxes | (2,577 | ) | (4,187 | ) | (11,310 | ) | (11,386 | ) | ||||||||||||||
Income taxes, net | (51 | ) | 188 | 24 | 562 | |||||||||||||||||
Net loss | $ | (2,628 | ) | $ | (3,999 | ) | $ | (11,286 | ) | $ | (10,824 | ) | ||||||||||
Net loss per share attributable to common stockholders: | ||||||||||||||||||||||
Basic | $ | (0.10 | ) | $ | (0.33 | ) | $ | (0.68 | ) | $ | (0.88 | ) | ||||||||||
Diluted | $ | (0.10 | ) | $ | (0.33 | ) | $ | (0.68 | ) | $ | (0.88 | ) | ||||||||||
Weighted-average common shares outstanding: | ||||||||||||||||||||||
Basic | 27,149,528 | 12,265,998 | 16,659,561 | 12,257,413 | ||||||||||||||||||
Diluted | 27,149,528 | 12,265,998 | 16,659,561 | 12,257,413 | ||||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||||
Foreign currency translation adjustment, net | 10 | 28 | (290 | ) | 29 | |||||||||||||||||
of tax | ||||||||||||||||||||||
Total comprehensive loss | $ | (2,618 | ) | $ | (3,971 | ) | $ | (11,576 | ) | $ | (10,795 | ) | ||||||||||
Stock-based compensation expense included in the above: | ||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||
Three months ended | Year ended | |||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||||||||
Cost of revenue | $ | 45 | $ | 47 | $ | 180 | $ | 150 | ||||||||||||||
Sales and marketing | 222 | 115 | 725 | 315 | ||||||||||||||||||
Research and development | 85 | 84 | 348 | 297 | ||||||||||||||||||
General and administrative | 584 | 376 | 1,848 | 760 | ||||||||||||||||||
Total stock-based compensation | $ | 936 | $ | 622 | $ | 3,101 | $ | 1,522 |
Consolidated Statements of Cash Flows | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
(unaudited) | |||||||||||||||||||||
Three months ended | Year ended | ||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net loss | $ | (2,628 | ) | $ | (3,999 | ) | $ | (11,286 | ) | $ | (10,824 | ) | |||||||||
Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||||||||||||||||
Depreciation and amortization | 2,067 | 1,732 | 7,742 | 5,976 | |||||||||||||||||
Loss on disposal of assets | - | - | 74 | - | |||||||||||||||||
Deferred income taxes | 86 | (431 | ) | (138 | ) | (431 | ) | ||||||||||||||
Accretion of interest on notes payable | - | 25 | - | 130 | |||||||||||||||||
Non-cash interest expense on line of credit and term loan | - | 7 | 67 | 11 | |||||||||||||||||
Provision for doubtful accounts | 292 | 35 | 387 | 366 | |||||||||||||||||
Stock-based compensation | 929 | 588 | 3,056 | 1,488 | |||||||||||||||||
Increase (decrease) in operating assets and liabilities: | |||||||||||||||||||||
Accounts receivable, net | (1,904 | ) | (3,715 | ) | (2,295 | ) | (4,813 | ) | |||||||||||||
Prepaid expenses | 840 | 353 | (348 | ) | (656 | ) | |||||||||||||||
Other assets | 647 | 326 | (1,096 | ) | (408 | ) | |||||||||||||||
Accounts payable | (674 | ) | (177 | ) | (423 | ) | 866 | ||||||||||||||
Accrued payroll and employee liabilities | (246 | ) | 709 | 1,312 | 1,181 | ||||||||||||||||
Accrued expenses | 234 | 175 | 539 | (171 | ) | ||||||||||||||||
Deferred revenue | 3,377 | 4,670 | 11,982 | 11,623 | |||||||||||||||||
Other liabilities | (52 | ) | 60 | (70 | ) | 113 | |||||||||||||||
Net cash provided by operating activities | 2,968 | 358 | 9,503 | 4,451 | |||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Capital expenditures | (231 | ) | (172 | ) | (970 | ) | (2,502 | ) | |||||||||||||
Payments for acquisitions, net of acquired cash | (2,306 | ) | - | (2,306 | ) | - | |||||||||||||||
Additions to capitalized software development costs | (1,200 | ) | (1,255 | ) | (5,494 | ) | (4,902 | ) | |||||||||||||
Change in restricted cash | - | 77 | - | - | |||||||||||||||||
Purchase of intangibles | (250 | ) | - | (250 | ) | - | |||||||||||||||
Net cash used in investing activities | (3,987 | ) | (1,350 | ) | (9,020 | ) | (7,404 | ) | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Proceeds from line of credit | - | 7,000 | 9,500 | 12,000 | |||||||||||||||||
Payments on line of credit | - | - | (19,500 | ) | (5,000 | ) | |||||||||||||||
Payments of issuance cost relating to the line of credit and term loan | - | - | (19 | ) | (59 | ) | |||||||||||||||
Principal payments on capital leases | - | (27 | ) | (58 | ) | (101 | ) | ||||||||||||||
Proceeds from initial public offering, net of underwriters discount and commissions | - | - | 69,750 | - | |||||||||||||||||
Payments of initial public offering costs | (588 | ) | (248 | ) | (1,960 | ) | (1,391 | ) | |||||||||||||
Payment on note payable | - | (1,779 | ) | (2,018 | ) | (1,779 | ) | ||||||||||||||
(Payments on) proceeds from term loan | - | - | (5,000 | ) | 5,000 | ||||||||||||||||
Proceeds from option exercises | 2 | 15 | 750 | 49 | |||||||||||||||||
Proceeds from warrant exercises | - | - | 25 | - | |||||||||||||||||
Repurchase of common stock | - | - | - | (1,500 | ) | ||||||||||||||||
Net cash (used) provided by financing activities | (586 | ) | 4,961 | 51,470 | 7,219 | ||||||||||||||||
Effect of exchange rates on cash | 74 | (71 | ) | 234 | (100 | ) | |||||||||||||||
Net (decrease) increase in cash | (1,531 | ) | 3,898 | 52,187 | 4,166 | ||||||||||||||||
Cash and cash equivalents, beginning of period | 62,296 | 4,680 | 8,578 | 4,412 | |||||||||||||||||
Cash and cash equivalents, end of period | $ | 60,765 | $ | 8,578 | $ | 60,765 | $ | 8,578 |
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, | |||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||||||||
Cost of revenue | $ | 6,443 | $ | 5,579 | $ | 23,767 | $ | 19,789 | ||||||||||||||
Amortization of acquired intangibles | (567 | ) | (635 | ) | (2,318 | ) | (2,003 | ) | ||||||||||||||
Stock-based compensation | (45 | ) | (47 | ) | (180 | ) | (150 | ) | ||||||||||||||
Non-GAAP cost of revenue | 5,831 | 4,897 | 21,269 | 17,636 | ||||||||||||||||||
Gross profit | 14,837 | 10,641 | 53,079 | 38,931 | ||||||||||||||||||
Amortization of acquired intangibles | 567 | 635 | 2,318 | 2,003 | ||||||||||||||||||
Stock-based compensation | 45 | 47 | 180 | 150 | ||||||||||||||||||
Non-GAAP gross profit | 15,449 | 11,323 | 55,577 | 41,084 | ||||||||||||||||||
Non-GAAP gross margin | 72.60 | % | 69.81 | % | 72.32 | % | 69.97 | % | ||||||||||||||
Sales and marketing | 9,188 | 7,827 | 34,847 | 25,925 | ||||||||||||||||||
Stock-based compensation | (222 | ) | (115 | ) | (725 | ) | (315 | ) | ||||||||||||||
Non-GAAP sales and marketing | 8,966 | 7,712 | 34,122 | 25,610 | ||||||||||||||||||
Research and development | 4,205 | 3,027 | 14,765 | 11,521 | ||||||||||||||||||
Stock-based compensation | (85 | ) | (84 | ) | (348 | ) | (297 | ) | ||||||||||||||
Non-GAAP research and development | 4,120 | 2,943 | 14,417 | 11,224 | ||||||||||||||||||
General and administrative | 4,041 | 3,831 | 14,293 | 12,272 | ||||||||||||||||||
Amortization of acquired intangibles | (215 | ) | (270 | ) | (916 | ) | (1,088 | ) | ||||||||||||||
Stock-based compensation | (584 | ) | (376 | ) | (1,848 | ) | (760 | ) | ||||||||||||||
Non-GAAP general and administrative | 3,242 | 3,185 | 11,529 | 10,424 | ||||||||||||||||||
Total operating expenses | 17,434 | 14,685 | 63,905 | 49,718 | ||||||||||||||||||
Amortization of acquired intangibles | (215 | ) | (270 | ) | (916 | ) | (1,088 | ) | ||||||||||||||
Stock-based compensation | (891 | ) | (575 | ) | (2,921 | ) | (1,372 | ) | ||||||||||||||
Non-GAAP operating expenses | $ | 16,328 | $ | 13,840 | $ | 60,068 | $ | 47,258 | ||||||||||||||
Operating loss | $ | (2,597 | ) | $ | (4,044 | ) | $ | (10,826 | ) | $ | (10,787 | ) | ||||||||||
Amortization of acquired intangibles | 782 | 905 | 3,234 | 3,091 | ||||||||||||||||||
Stock-based compensation | 936 | 622 | 3,101 | 1,522 | ||||||||||||||||||
Non-GAAP operating loss | $ | (879 | ) | $ | (2,517 | ) | $ | (4,491 | ) | $ | (6,174 | ) | ||||||||||
Net loss | $ | (2,628 | ) | $ | (3,999 | ) | $ | (11,286 | ) | $ | (10,824 | ) | ||||||||||
Amortization of acquired intangibles | 782 | 905 | 3,234 | 3,091 | ||||||||||||||||||
Stock-based compensation | 936 | 622 | 3,101 | 1,522 | ||||||||||||||||||
Non-GAAP net loss | $ | (910 | ) | $ | (2,472 | ) | $ | (4,951 | ) | $ | (6,211 | ) | ||||||||||
Weighted average common shares outstanding, basic and diluted | 27,149,528 | 12,265,998 | 16,659,561 | 12,257,413 | ||||||||||||||||||
Non-GAAP net loss per share | $ | (0.03 | ) | $ | (0.20 | ) | $ | (0.30 | ) | $ | (0.51 | ) | ||||||||||
Net loss | $ | (2,628 | ) | $ | (3,999 | ) | $ | (11,286 | ) | $ | (10,824 | ) | ||||||||||
Interest expense, net | (34 | ) | 133 | 472 | 537 | |||||||||||||||||
Income taxes, net | 51 | (188 | ) | (24 | ) | (562 | ) | |||||||||||||||
Depreciation and amortization | 2,067 | 1,732 | 7,742 | 5,976 | ||||||||||||||||||
EBITDA | (544 | ) | (2,322 | ) | (3,096 | ) | (4,873 | ) | ||||||||||||||
Stock-based compensation | 936 | 622 | 3,101 | 1,522 | ||||||||||||||||||
Adjusted EBITDA | $ | 392 | $ | (1,700 | ) | $ | 5 | $ | (3,351 | ) | ||||||||||||
Net cash provided by operating activities | $ | 2,968 | $ | 358 | $ | 9,503 | $ | 4,451 | ||||||||||||||
Capital expenditures | (231 | ) | (172 | ) | (970 | ) | (2,502 | ) | ||||||||||||||
Additions to capitalized software development costs | (1,200 | ) | (1,255 | ) | (5,494 | ) | (4,902 | ) | ||||||||||||||
Free cash flow | $ | 1,537 | $ | (1,069 | ) | $ | 3,039 | $ | (2,953 | ) |
(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, 2017 | December 31, 2017 | |||||||||||||||||||||
Low end | High end | Low end | High end | |||||||||||||||||||
Net loss | $ | (7.8 | ) | $ | (7.6 | ) | $ | (18.1 | ) | $ | (17.1 | ) | ||||||||||
Amortization of acquired intangibles | 1.7 | 1.7 | 5.2 | 5.2 | ||||||||||||||||||
Stock-based compensation | 0.9 | 0.9 | 3.8 | 3.8 | ||||||||||||||||||
Non-GAAP net loss | $ | (5.2 | ) | $ | (5.0 | ) | $ | (9.1 | ) | $ | (8.1 | ) | ||||||||||
Weighted average common shares outstanding, basic and diluted | 27,180,000 | 27,180,000 | 27,350,000 | 27,350,000 | ||||||||||||||||||
Net loss per share | $ | (0.29 | ) | $ | (0.28 | ) | $ | (0.66 | ) | $ | (0.63 | ) | ||||||||||
Non-GAAP net loss per share | $ | (0.19 | ) | $ | (0.18 | ) | $ | (0.33 | ) | $ | (0.30 | ) | ||||||||||
Net loss | $ | (7.8 | ) | $ | (7.6 | ) | $ | (18.1 | ) | $ | (17.1 | ) | ||||||||||
Interest income (expense), net | - | - | - | - | ||||||||||||||||||
Benefit from income taxes | - | - | - | - | ||||||||||||||||||
Depreciation and amortization | 3.2 | 3.2 | 11.5 | 11.5 | ||||||||||||||||||
EBITDA | (4.6 | ) | (4.4 | ) | (6.6 | ) | (5.6 | ) | ||||||||||||||
Stock-based compensation | 0.9 | 0.9 | 3.8 | 3.8 | ||||||||||||||||||
Adjusted EBITDA | $ | (3.7 | ) | $ | (3.5 | ) | $ | (2.8 | ) | $ | (1.8 | ) |
View source version on businesswire.com: http://www.businesswire.com/news/home/20170227006378/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