Science & Technology
Science and Technology
Science and Technology
Fri, February 6, 2009
Thu, February 5, 2009 Omniture: Omniture Reports Fourth Quarter and Fiscal Year 2008 Financial Results
OREM, UT--(Marketwire - February 5, 2009) - Omniture, Inc. (
"We are seeing real proof points that our transition from a web analytics company to an optimization company has been completed. For example, our annual deal size has increased by over 50% from 18 months ago and 50% of our bookings are now coming from up-sells and cross-sells of optimization products to our existing customers," stated Josh James, CEO and co-founder. "2009 is about tying together the many building blocks we have assembled, including expanding our partner ecosystem, and focusing on delivering even deeper integration with our products for our loyal enterprise customers."
Omniture's GAAP net loss was $8.1 million or $0.11 per diluted share in the fourth quarter of 2008, compared to a net loss of $1.8 million or $0.03 per diluted share in the fourth quarter of 2007. Non-GAAP net income was $9.2 million or $0.12 per diluted share for the fourth quarter, compared to non-GAAP net income of $4.6 million or $0.07 per diluted share in the fourth quarter of 2007. Non-GAAP net income excludes the effect of acquisition-related adjustments to deferred revenue, stock-based compensation, amortization of certain intangible assets, imputed interest related to patent license agreements and certain acquisition-related expenses and non-cash tax adjustments.
In 2008, Omniture achieved record revenue of $296 million, compared to $143 million in 2007. On a year-over-year basis, annual revenue grew by 107%. Non-GAAP revenue for 2008 was $309 million, an increase of 113% from $145 million in 2007. Omniture's annual GAAP net loss for 2008 was $44.8 million or $0.63 per diluted share, compared to a net loss of $9.4 million, or $0.18 per diluted share, for 2007. Omniture's non-GAAP net income for 2008 was $32.0 million, or $0.42 per diluted share, in 2008, compared to non-GAAP net income of $11.8 million, or $0.20 per diluted share, for 2007.
Fourth quarter and fiscal 2008 adjusted EBITDA was $17.3 million and $59.4 million respectively. Adjusted EBITDA is defined as loss from operations on a GAAP basis less depreciation and amortization, stock-based compensation and the acquisition-related adjustment to deferred revenue.
During the fourth quarter of 2008, Omniture added over 250 new customers, bringing its total to more than 5,100. New customer relationships secured in the fourth quarter include: Carnival Cruise Lines, Expressen, Hyundai, Irish Life & Permanent plc, Kohl's, Norwegian Cruise Line, Red Box Automated Retail, LLC, Starbrands, The Scotts Miracle-Gro Company, Timex and United Way America.
Guidance
- Q1 FY 2009: GAAP revenue for the first quarter is expected to be in the range of $85 million to $87 million. GAAP net loss is expected to be in the range of $0.11 to $0.10 per share based upon an estimated weighted average share count of 75.2 million in the first quarter of 2009. Non-GAAP revenue for the company's first quarter is expected to be in the range of $86 million to $88 million. Non-GAAP net income for the first quarter is expected to be between $0.11 to $0.12 per diluted share based upon an estimated weighted average fully diluted share count of 78.0 million in the first quarter of 2009. Omniture expects positive adjusted EBITDA in the range of $17.0 million to $18.0 million.
Information for Conference Call to Discuss Q4 FY 2008 Financial Results
Omniture, Inc. will host a conference call and simultaneous audio-only webcast at 5:00 p.m. (Eastern Time). To access the conference call, dial 888-837-7915, or 617-213-4872 for international callers. The access code is 54987626. Please call 10 minutes prior to the scheduled conference call time. The webcast will be available on the "Investor Relations" section of the company's corporate Web site at [ www.omtr.com ]. A replay of the conference call will be accessible by telephone after 7:00 p.m. (Eastern Time) by dialing 888-286-8010, or 617-801-6888 for international callers. The access code is 67618419. The conference call will also be archived on the company's corporate Web site. Both the replay and archived webcast will be available until February 19, 2009.
About Non-GAAP Financial Measures
In this release and during our conference call as described above we use or plan to discuss certain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States of America, or GAAP. A reconciliation between non-GAAP and GAAP measures can be found in the accompanying tables and on the "Investor Relations" section of our corporate web site at [ www.omtr.com ]. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies.
While these non-GAAP measures are not a substitute for GAAP results, we believe they provide a basis for evaluating the company's operating results because they are helpful in understanding our past financial performance and our future results and facilitate comparisons of results between periods. We believe the calculation of non-GAAP revenue, which reflects the revenue excluded from the GAAP results due to purchase accounting adjustments to reduce deferred revenue to its fair value, provides a meaningful comparison to our historic GAAP revenue. We also believe the calculation of net income and loss, calculated without acquisition-related accounting adjustments to deferred revenue, stock-based compensation expense, the amortization of certain intangible assets, imputed interest expense and certain acquisition-related expenses and non-cash tax adjustments, provides a meaningful comparison to our net loss figures. We also believe that adjusted EBITDA, which we calculate as loss from operations on a GAAP basis less depreciation and amortization, stock-based compensation and acquisition-related adjustments to deferred revenue, is an indicator of the company's financial results and cash flows and is useful to investors in evaluating operating performance. Our management regularly uses these non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures have been reconciled to the nearest GAAP measure as required under the rules and regulations promulgated by the U.S. Securities and Exchange Commission.
About Omniture
Omniture, Inc. is a leading provider of online business optimization software, enabling customers to manage and enhance online, offline and multi-channel business initiatives. Omniture's software, which it hosts and delivers to its customers as an on-demand subscription service and on-premise solution, enables customers to capture, store and analyze information generated by their Web sites and other sources and to gain critical business insights into the performance and efficiency of marketing and sales initiatives and other business processes. In addition, Omniture offers a range of professional services that complement its online services, including implementation, best practices, consulting, customer support and user training through Omniture University. Omniture's more than 5,100 customers include eBay, AOL, Wal-Mart, Gannett, Microsoft, Neiman Marcus, Oracle, General Motors, Sony and HP. [ www.omniture.com ]
Note on Forward-looking Statements
Management believes that certain statements in this release may constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, including, but not limited to, statements regarding our transition from a web analytics company to an optimization company, our ability to increase the sales of our optimization products and expand our partner ecosystem and integrate our products, and our current expectations regarding GAAP and non-GAAP revenue, GAAP and non-GAAP net income and net loss, and adjusted EBITDA. These statements are based on current expectations and assumptions regarding future events and business performance and involve certain risks and uncertainties that could cause actual results to differ materially, including, but not limited to, risks associated with current uncertainty in and deterioration of global economic conditions, which could negatively impact the demand for our products and services and other related matters and could result in reductions in spending by our customers for our products and services and changes in customers' subscription and renewal patterns, the potential that we or our customers or partners may not realize the benefits we currently expect from our recent acquisitions and strategic partner relationships, risks that the expected financial effect of our recent acquisitions and strategic partner relationships may not be realized, risks inherent in the integration and combination of complex products and technologies from our acquisitions and strategic partner relationships, our ability to continue to attract new customers and sell additional services to our existing customers, including our SiteCatalyst service and the new combined offerings from our acquisitions, the significant capital requirements of our business model that make it more difficult to achieve positive cash flow and profitability if we continue to grow rapidly, our ability to develop or acquire new products and services, our ability to raise capital in the future, particularly in light of the ongoing financial crisis affecting the banking system and financial and capital markets and the going concern threats to investment banks and other financial institutions that have resulted in a tightening in the credit markets, reduced liquidity in many financial markets and increased volatility in the equity and debt markets, risks associated with our acquisition and strategic partner strategy and disruptions in our business, operations and financial results as a result of acquisitions and strategic partner relationships, the ability of our expanding sales organization to become productive, possible fluctuations in our operating results and rate of growth, the continued growth of the market for on-demand, online business optimization services, changes in the competitive dynamics of our markets, including the potential for increased pressure on the pricing of our products and services in light of the ongoing economic crisis, the inaccurate assessment of changes in our markets, errors, interruptions or delays in our services or other performance problems with our services, our ability to hire, retain and motivate our employees and manage our growth, our ability to effectively expand our sales and marketing capabilities, our ability to develop and maintain strategic partner relationships with third parties with respect to either technology integration or channel development and respond to potential changes in the financial stability and solvency of our strategic partners that may result from the economic crisis, our ability to expand our international operations and to profitably sell our services to customers located outside the United States and to manage the associated fluctuations in currency exchange rates, our ability to implement and maintain proper and effective internal controls, the adoption of laws or regulations, or interpretations of existing law, that could limit our ability to collect and use Internet user information, and the blocking or erasing of "cookies"; and such other risks as identified in Omniture's quarterly report on Form 10-Q for the period ended September 30, 2008, and from time to time in other reports filed by Omniture with the U.S. Securities and Exchange Commission. These reports are available on our Web site at [ www.omtr.com ]. Omniture undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
Copyright (c) 2009 Omniture, Inc. All rights reserved. Omniture and SiteCatalyst are registered trademarks of Omniture, Inc. in the United States, Japan, Canada and the European Community. Omniture, Inc. owns other registered and unregistered trademarks throughout the world. Other names used herein may be trademarks of their respective owners.
Omniture, Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) % Three Months Ended Three Months Ended Increase December 31, December 31, (Decrease) =================== =================== ========= % of % of 2007 Revenues 2008 Revenues ======== ======== ======== ======== Revenues: Subscription, license and maintenance $ 39,728 92 % $ 74,362 90 % 87% Professional services and other 3,385 8 8,637 10 155 -------- -------- -------- -------- Total revenues 43,113 100 82,999 100 93 Cost of revenues (1): Subscription, license and maintenance 13,838 32 31,062 38 124 Professional services and other 2,206 5 4,337 5 97 -------- -------- -------- -------- Total cost of revenues 16,044 37 35,399 43 121 -------- -------- -------- -------- Gross profit 27,069 63 47,600 57 76 Operating expenses (1): Sales and marketing 17,227 40 33,723 41 96 Research and development 5,489 13 9,126 11 66 General and administrative 7,576 18 12,044 14 59 -------- -------- -------- -------- Total operating expenses 30,292 71 54,893 66 81 -------- -------- -------- -------- Loss from operations (3,223) (8) (7,293) (9) 126 Interest income 2,067 5 210 - (90) Interest expense (149) - (235) - 58 Other expense, net (189) - (834) (1) 341 -------- -------- -------- -------- Loss before income taxes (1,494) (3) (8,152) (10) 446 Provision for (benefit from) income taxes 333 1 (69) - (121) -------- -------- -------- -------- Net loss $ (1,827) (4)% $ (8,083) (10)% 342% ======== ======== ======== ======== Net loss per share: Net loss per share, basic and diluted $ (0.03) $ (0.11) 267% Weighted-average number of shares, basic and diluted 59,421 72,731 22% Adjusted EBITDA (2) $ 7,198 17 % $ 17,269 21 % 140% (1) Amounts include stock-based compensation expenses, as follows: Cost of subscription, license and maintenance revenues $ 428 1 % $ 864 1 % Cost of professional services and other revenues 117 0 234 0 Sales and marketing 1,504 4 3,082 4 Research and development 853 2 1,497 2 General and administrative 1,224 3 1,808 2 -------- -------- -------- -------- Total stock-based compensation expenses $ 4,126 10 % $ 7,485 9 % ======== ======== ======== ======== (2) Adjusted EBITDA is equal to the loss from operations less depreciation and amortization, stock-based compensation and the acquisition-related adjustment to deferred revenue Omniture, Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) % Year Ended Year Ended Increase December 31, December 31, (Decrease) ==================== ==================== ========= % of % of 2007 Revenues 2008 Revenues ========= ======== ========= ======== Revenues: Subscription, license and maintenance $ 132,010 92 % $ 265,686 90 % 101% Professional services and other 11,117 8 29,927 10 169 --------- -------- --------- -------- Total revenues 143,127 100 295,613 100 107 Cost of revenues (1): Subscription, license and maintenance 46,411 32 110,786 38 139 Professional services and other 6,953 5 15,154 5 118 --------- -------- --------- -------- Total cost of revenues 53,364 37 125,940 43 136 --------- -------- --------- -------- Gross profit 89,763 63 169,673 57 89 Operating expenses (1): Sales and marketing 61,610 43 129,814 44 111 Research and development 17,257 12 36,966 12 114 General and administrative 24,218 17 46,037 16 90 --------- -------- --------- -------- Total operating expenses 103,085 72 212,817 72 106 --------- -------- --------- -------- Loss from operations (13,322) (9) (43,144) (15) 224 Interest income 5,816 4 1,869 1 (68) Interest expense (835) (1) (953) (1) 14 Other expense, net (554) - (1,375) - 148 --------- -------- --------- -------- Loss before income taxes (8,895) (6) (43,603) (15) 390 Provision for income taxes 534 1 1,163 - 118 --------- -------- --------- -------- Net loss $ (9,429) (7)% $ (44,766) (15)% 375% ========= ======== ========= ======== Net loss per share: Net loss per share, basic and diluted $ (0.18) $ (0.63) 250% Weighted-average number of shares, basic and diluted 53,710 71,458 33% Adjusted EBITDA (2) $ 22,377 16 % $ 59,414 20 % 166% (1) Amounts include stock-based compensation expenses, as follows: Cost of subscription, license and maintenance revenues $ 1,502 1 % $ 4,221 2 % Cost of professional services and other revenues 430 0 968 0 Sales and marketing 4,982 3 12,268 4 Research and development 2,615 2 6,849 2 General and administrative 3,935 3 8,282 3 --------- -------- --------- -------- Total stock-based compensation expenses $ 13,464 9 % $ 32,588 11 % ========= ======== ========= ======== (2) Adjusted EBITDA is equal to the loss from operations less depreciation and amortization, stock-based compensation and the acquisition-related adjustment to deferred revenue Omniture, Inc. Reconciliation of Non-GAAP Measures (in thousands, except per share data) (unaudited) Three Months Ended Year Ended December 31, December 31, ==================== ==================== 2007 2008 2007 2008 ========= ========= ========= ========= Reconciliation of Total Revenues on a GAAP Basis to Total Revenues on a Non-GAAP Basis: Total revenues on a GAAP basis $ 43,113 $ 82,999 $ 143,127 $ 295,613 Acquisition-related adjustment to Instadia deferred revenue (1) - - 333 - Acquisition-related adjustment to Touch Clarity deferred revenue (1) 414 - 1,377 378 Acquisition-related adjustment to Offermatica deferred revenue (1) 139 39 139 656 Acquisition-related adjustment to Visual Sciences deferred revenue (1) - 1,384 - 11,942 Acquisition-related adjustment to Mercado deferred revenue (1) - 418 - 418 --------- --------- --------- --------- Total revenues on a non-GAAP basis $ 43,666 $ 84,840 $ 144,976 $ 309,007 ========= ========= ========= ========= Reconciliation of Net Loss on a GAAP Basis to Net Income on a Non-GAAP Basis: Net loss on a GAAP basis $ (1,827) $ (8,083) $ (9,429) $ (44,766) Acquisition-related adjustment to deferred revenue (1) 553 1,841 1,849 13,394 Amortization of intangible assets (2) 1,693 7,873 5,459 30,530 Stock-based compensation 4,126 7,485 13,464 32,588 Imputed interest on patent license obligation (3) 15 53 168 234 Loss on foreign currency forward contract related to Instadia acquisition (4) - - 243 - --------- --------- --------- --------- Net income on a non-GAAP basis $ 4,560 $ 9,169 $ 11,754 $ 31,980 ========= ========= ========= ========= Reconciliation of Diluted Net Loss per Share on a GAAP Basis to Diluted Net Income per Share on a Non-GAAP Basis: Diluted net loss per share on a GAAP basis $ (0.03) $ (0.11) $ (0.18) $ (0.63) Acquisition-related adjustment to deferred revenue (1) 0.01 0.03 0.03 0.19 Amortization of intangible assets (2) 0.03 0.11 0.11 0.43 Stock-based compensation 0.07 0.10 0.25 0.46 Loss on foreign currency forward contract related to Instadia acquisition (4) - - 0.01 - Impact of difference in number of GAAP and non-GAAP diluted shares (0.01) (0.01) (0.02) (0.03) --------- --------- --------- --------- Diluted net income per share on a non-GAAP basis $ 0.07 $ 0.12 $ 0.20 $ 0.42 ========= ========= ========= ========= Reconciliation of Net Loss on a GAAP Basis to Adjusted EBITDA: Net loss on a GAAP basis $ (1,827) $ (8,083) $ (9,429) $ (44,766) Other (income) expense, net (1,729) 859 (4,427) 459 Provision for (benefit from) income taxes 333 (69) 534 1,163 --------- --------- --------- --------- Loss from operations on a GAAP basis (3,223) (7,293) (13,322) (43,144) Depreciation and amortization 5,742 15,236 20,386 56,576 Stock-based compensation 4,126 7,485 13,464 32,588 Acquisition-related adjustment to deferred revenue (1) 553 1,841 1,849 13,394 --------- --------- --------- --------- Adjusted EBITDA $ 7,198 $ 17,269 $ 22,377 $ 59,414 ========= ========= ========= ========= (1) This item is recorded in subscription, license and maintenance revenue in the Condensed Consolidated Statements of Operations (2) Amortization of intangible assets is allocated as follows in the Condensed Consolidated Statement of Operations: Three Months Ended Year Ended December 31, December 31, ==================== ==================== 2007 2008 2007 2008 ========= ========= ========= ========= Cost of subscription, license and maintenance revenues $ 1,189 $ 4,854 $ 3,810 $ 18,684 Sales and marketing 420 2,941 1,362 11,503 General and administrative 84 78 287 343 --------- --------- --------- --------- Total amortization of intangible assets $ 1,693 $ 7,873 $ 5,459 $ 30,530 ========= ========= ========= ========= (3) This item is recorded in interest expense in the Condensed Consolidated Statements of Operations (4) This item is recorded in other expense, net in the Condensed Consolidated Statements of Operations Omniture, Inc. Reconciliation of Forward Looking Measures (in millions, except per share data) (unaudited) Reconciliation of Forward Looking Total Revenues on a GAAP Basis to Total Revenues on a Non-GAAP Basis Three Months Ended March 31, 2009 =================== Total revenues on a GAAP basis $85 to $87 Acquisition-related adjustment to deferred revenue 1.0 ------------------- Total revenues on a non-GAAP basis $86 to $88 =================== Reconciliation of Forward Looking GAAP Diluted Net Loss Per Share to Non-GAAP Diluted Net Income Per Share Three Months Ended March 31, 2009 =================== Diluted net loss per share on a GAAP basis $(0.11) to $(0.10) Acquisition-related adjustment to deferred revenue 0.01 Stock-based compensation 0.10 Amortization of intangible assets 0.11 ------------------- Diluted net income per share on a non-GAAP basis $0.11 to $0.12 =================== Reconciliation of Forward Looking Net Loss on a GAAP Basis to Adjusted EBITDA Three Months Ended March 31, 2009 =================== Net loss on a GAAP basis $(8.2) to $(7.2) Other expense, net 0.3 Provision for income taxes 0.6 ------------------- Loss from operations on a GAAP basis (7.3) to (6.3) Depreciation and amortization 15.6 Stock-based compensation 7.7 Acquisition-related adjustment to deferred revenue 1.0 ------------------- Adjusted EBITDA $17.0 to $18.0 =================== Omniture, Inc. Additional Metrics (unaudited) March June September December March June 31, 30, 30, 31, 31, 30, 2006 2006 2006 2006 2007 2007 ========= ========= ========= ========= ========= ========= Full-time employee headcount 312 324 323 353 465 531 Quarterly number of transactions captured (in billions) 288.5 315.0 362.7 420.7 496.0 520.0 September December March June September December 30, 31, 31, 30, 30, 31, 2007 2007 2008 2008 2008 2008 ========= ========= ========= ========= ========= ========= Full-time employee headcount 578 713 985 1,045 1,087 1,189 Quarterly number of transactions captured (in billions) 561.3 619.3 851.5 886.6 938.8 993.5 Three Months Ended Year Ended December 31, December 31, ==================== ==================== 2007 2008 2007 2008 ========= ========= ========= ========= Revenues by geography (in thousands): Customers within the United States $ 31,727 $ 59,537 $ 106,258 $ 213,212 Customers outside the United States 11,386 23,462 36,869 82,401 --------- --------- --------- --------- Total revenues $ 43,113 $ 82,999 $ 143,127 $ 295,613 ========= ========= ========= ========= Revenues by geography as a percentage of total revenues: Customers within the United States 74% 72% 74% 72% Customers outside the United States 26 28 26 28 --------- --------- --------- --------- Total 100% 100% 100% 100% ========= ========= ========= ========= Omniture, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Three Months Ended Year Ended December 31, December 31, ==================== ==================== 2007 2008 2007 2008 ========= ========= ========= ========= Cash flows from operating activities: Net loss $ (1,827) $ (8,083) $ (9,429) $ (44,766) Adjustments to reconcile net loss to net cash (used in) provided by operating activities: Depreciation and amortization 5,742 15,236 20,386 56,576 Stock-based compensation 4,126 7,485 13,464 32,588 Other non-cash transactions (315) (3) (946) (328) (Gains) losses on foreign currency forward contracts, net - (1,067) 243 (738) Net changes in operating assets and liabilities: Accounts receivable, net (9,170) (10,019) (23,121) (35,173) Prepaid expenses and other assets (1,340) (1,113) (1,599) (1,001) Accounts payable (2,186) (4,124) 2,145 82 Accrued and other liabilities (253) 1,180 617 3,992 Deferred revenues 5,024 8,319 16,245 57,095 --------- --------- --------- --------- Net cash (used in) provided by operating activities (199) 7,811 18,005 68,327 Cash flows from investing activities: Purchases of investments (6,023) (9,980) (144,019) (34,788) Proceeds from sales of investments 35,000 - 48,150 36,970 Maturities of investments 30,000 5,000 40,000 25,000 Purchases of property and equipment (2,783) (3,464) (11,975) (45,335) Purchases of intangible assets (982) (650) (4,545) (3,967) Foreign currency forward contracts - 1,783 (337) 1,454 Business acquisitions, net of cash acquired (34,703) (7,865) (78,882) (68,687) --------- --------- --------- --------- Net cash provided by (used in) investing activities 20,509 (15,176) (151,608) (89,353) Cash flows from financing activities: Proceeds from exercise of stock options 998 158 3,606 8,715 Proceeds from employee stock purchase plan - - 194 330 Proceeds from issuance of common stock, net of issuance costs - - 142,233 - Income tax benefit of stock option exercises 294 - 294 - Repurchases of vested restricted stock - (34) - (1,027) Proceeds from issuance of notes payable 2,364 14,344 2,761 22,350 Principal payments on notes payable and capital lease obligations (1,110) (11,672) (6,129) (19,424) --------- --------- --------- --------- Net cash provided by financing activities 2,546 2,796 142,959 10,944 Effect of exchange rate changes on cash and cash equivalents 8 (102) 122 (663) --------- --------- --------- --------- Net increase (decrease) in cash and cash equivalents 22,864 (4,671) 9,478 (10,745) Cash and cash equivalents at beginning of period 54,901 71,691 68,287 77,765 --------- --------- --------- --------- Cash and cash equivalents at end of period $ 77,765 $ 67,020 $ 77,765 $ 67,020 ========= ========= ========= ========= Omniture, Inc. Condensed Consolidated Balance Sheets (in thousands) (unaudited) December 31, December 31, ============ ============ 2007 2008 ============ ============ Assets: Current assets: Cash and cash equivalents $ 77,765 $ 67,020 Short-term investments 56,924 9,997 Accounts receivable, net 51,971 106,810 Prepaid expenses and other current assets 3,663 10,369 ------------ ------------ Total current assets 190,323 194,196 Property and equipment, net 31,214 61,482 Intangible assets, net 50,769 137,505 Goodwill 94,960 427,565 Long-term investments - 18,136 Other assets 3,457 3,316 ------------ ------------ Total assets $ 370,723 $ 842,200 ============ ============ Liabilities and Stockholders' Equity: Current liabilities: Accounts payable $ 6,470 $ 7,662 Accrued liabilities 17,126 41,179 Current portion of deferred revenues 42,041 101,728 Current portion of notes payable 4,407 1,617 Current portion of capital lease obligations 246 150 ------------ ------------ Total current liabilities 70,290 152,336 Deferred revenues, less current portion 1,815 10,222 Notes payable, less current portion 2,948 13,528 Capital lease obligations, less current portion 173 79 Other liabilities 4,422 8,467 Commitments and contingencies Stockholders' equity: Preferred stock - - Common stock 61 73 Additional paid-in capital 340,424 754,151 Deferred stock-based compensation (1,182) (366) Accumulated other comprehensive income (loss) 40 (3,256) Accumulated deficit (48,268) (93,034) ------------ ------------ Total stockholders' equity 291,075 657,568 ------------ ------------ Total liabilities and stockholders' equity $ 370,723 $ 842,200 ============ ============
