| [November 04, 2015] |
 |
Intralinks Announces Third Quarter 2015 Results
Intralinks Holdings, Inc. (NYSE:IL), a leading, global SaaS provider of
secure content collaboration solutions, today announced its results for
the third quarter ended September 30, 2015.
"The investments we're making in our platform are positioning us well in
the market, with offerings that provide customers with the security and
collaboration capabilities that they increasingly demand. As a result,
the business continued to perform during the third quarter, with overall
revenue increasing by 12% in constant currency year-over-year," said Ron
Hovsepian, Intralinks' president and CEO. "Both our Enterprise and M&A
businesses remained strong with each posting 12% year-over-year constant
currency growth. Enterprise 12-month backlog increased 18% as customers
continue to respond positively to our offerings. The business is
positioned to finish 2015 strongly."
Third Quarter 2015
Total revenue was $69.6 million, compared to $65.6 million for the
corresponding quarter last year, an increase of 6% or 12% in constant
currency.
-
M&A revenue was $35.6 million, compared to $33.9 million for the
corresponding quarter last year, an increase of 5% or 12% in constant
currency.
-
Enterprise revenue was $27.1 million, compared to $25.1 million for
the corresponding quarter last year, an increase of 8% or 12% in
constant currency.
-
DCM revenue was $6.9 million, compared to $6.6 million for the
corresponding quarter last year, an increase of 5% in both actual and
constant currency.
GAAP gross margin was 72.3%, compared to 74.0% for the corresponding
quarter last year. Non-GAAP adjusted gross margin was 75.5%, compared to
77.4% for the corresponding quarter last year.
GAAP operating loss was $(4.7) million, compared to $(3.9) million for
the corresponding quarter last year. Non-GAAP adjusted operating income
was $4.3 million, compared to $4.9 million for the corresponding quarter
last year.
GAAP net loss was $(6.6) million, compared to $(4.4) million for the
corresponding quarter last year. GAAP net loss per share was $(0.11) on
the basis of 57.4 million weighted average shares outstanding. In the
corresponding quarter last year, GAAP net loss per share was $(0.08) on
the basis of 56.0 million weighted average shares outstanding.
Non-GAAP adjusted net income was $1.8 million, compared to $1.6 million
for the corresponding quarter last year. Non-GAAP adjusted net earnings
per share was $0.03 on the basis of 59.4 million weighted average shares
outstanding. In the corresponding quarter last year, non-GAAP adjusted
net income per share was $0.03 on the basis of 57.5 million weighted
average shares outstanding.
Non-GAAP adjusted EBITDA was $11.0 million, compared to $11.4 million
for the corresponding quarter last year.
Cash, cash equivalents and investments were $56.9 million at September
30, 2015 compared to $56.8 million at June 30, 2015.
Business Outlook:
Based on information available as of November 4, 2015, Intralinks is
providing guidance for 2015 as follows:
Full Year 2015
Revenue: $273.5 million to $275.0 million
GAAP operating loss:
$(25.9) million to $(23.9) million
Non-GAAP adjusted operating
income: $10.0 million to $12.0 million
Non-GAAP adjusted EBITDA:
$38.0 million to $40.0 million
GAAP net loss per share: $(0.58) to
$(0.54)
Non-GAAP adjusted net income per share: $0.05 to $0.07
Our full-year guidance above is based on current foreign exchange rates.
Excluding the impact of foreign currency exchange rates, our full-year
guidance at the midpoint reflects 12% revenue growth.
Quarterly Conference Call
Intralinks will host a conference call today at 5:00 p.m. Eastern Time
(ET) to discuss the company's third quarter 2015 financial results and
business outlook. To access this call, dial 888-348-8637 (domestic) or
412-902-4244 (international). A passcode is not required. This
presentation will also be webcast live on the investor relations section
on the Intralinks website at www.Intralinks.com/ir.
Following the conference call, a replay will be available until November
11, 2015 at 877-870-5176 (domestic) or 858-384-5517 (international). The
passcode for the replay is 10074187. An archived webcast of this
conference call will also be available on the investor relations section
on the Intralinks website at www.Intralinks.com/ir.
About Intralinks
Intralinks Holdings, Inc. (NYSE:IL) is a leading, global technology
provider of secure enterprise content collaboration solutions. Through
innovative Software-as-a-Service solutions, Intralinks software is
designed to enable the exchange, control and management of information
between organizations securely and compliantly when working through the
firewall. More than 3.1 million professionals at 99% of the Fortune 1000
companies have depended on Intralinks' experience. With a track record
of enabling high-stakes transactions and business collaborations valued
at more than $28.1 trillion, Intralinks is a trusted provider of
easy-to-use, enterprise strength, cloud-based collaboration solutions.
For more information, visit www.Intralinks.com.
Non-GAAP Financial Measures
This press release includes information about certain financial measures
that are not prepared in accordance with generally accepted accounting
principles in the United States ("GAAP" or "U.S. GAAP"). These non-GAAP
measures are not based on any standardized methodology prescribed by
GAAP and are not necessarily comparable to similar measures presented by
other companies.
Management defines its non-GAAP financial measures as follows:
-
Non-GAAP adjusted gross profit represents the corresponding GAAP
measure adjusted to exclude, if applicable: (1) amortization of
intangible assets and (2) stock-based compensation expense.
-
Non-GAAP adjusted operating income represents the corresponding GAAP
measure adjusted to exclude, if applicable: (1) amortization of
intangible assets, (2) stock-based compensation expense and (3)
impairment charges or asset write-offs.
-
Non-GAAP adjusted net income represents the corresponding GAAP measure
adjusted to exclude, if applicable: (1) amortization of intangible
assets, (2) stock-based compensation expense and (3) impairment
charges or asset write-offs. The income tax expense included in
non-GAAP adjusted net income is calculated using an estimated
long-term effective tax rate.
-
Non-GAAP adjusted net income per share represents non-GAAP adjusted
net income (which is defined above) divided by fully diluted weighted
average shares outstanding.
-
Non-GAAP adjusted EBITDA represents net loss adjusted to exclude, if
applicable: (1) depreciation and amortization, (2) amortization of
intangible assets, (3) stock-based compensation expense, (4)
impairment charges or asset write-offs, (5) interest expense, (6)
amortization of debt issuance costs, (7) other (income) expense, net,
and (8) income tax (benefit) expense.
-
Free cash flow represents net cash provided by operating activities
less capitalized software development costs and capital expenditures.
-
The Company refers to growth rates at constant currency so that the
results can be viewed without the impact of fluctuations in foreign
currency exchange rates to facilitate comparisons of the Company's
performance from one period to another. Constant currency for revenue
is calculated by retranslating current and prior period revenue at a
consistent rate.
Management believes that these non-GAAP financial measures, when viewed
with our results under U.S. GAAP and the accompanying reconciliations,
provide useful information about our period-over-period growth and
provide additional information that is useful for evaluating our
operating performance. In addition, free cash flow provides management
with useful information for managing the cash needs of our business.
Management also believes that these non-GAAP financial measures provide
a more meaningful comparison of our operating results against those of
other companies in our industry, as well as on a period-over-period
basis, because these measures exclude items that are not representative
of our operating performance, such as amortization of intangible assets,
stock-based compensation expense and interest expense. Management
believes that including these costs in our results of operations results
in a lack of comparability between our operating results and those of
our peers in the industry. However, non-GAAP adjusted gross profit,
non-GAAP adjusted operating income, non-GAAP adjusted net income,
non-GAAP adjusted net income per share, non-GAAP adjusted EBITDA and
free cash flow are not measures of financial performance under U.S. GAAP
and, accordingly, should not be considered substitutes for or superior
to gross profit, loss from operations, net loss, net loss per share and
net cash provided by operating activities as indicators of operating
performance.
Reconciliations of GAAP to Non-GAAP financial measures are included in
this press release.
Forward Looking Statements
This press release contains forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. This press release contains expressed or
implied forward-looking statements that are not based on historical
information relating to, among other things, expectations and
assumptions concerning management's forecast of financial performance,
future business growth, and management's plans, objectives, and
strategies. These statements are neither promises nor guarantees, but
are subject to a variety of risks and uncertainties, many of which are
beyond our control, which could cause actual results to differ
materially from those contemplated in these forward-looking statements.
In particular, the risks and uncertainties include, among other things:
the uncertainty of our future profitability; our ability to sustain
positive cash flow or to attain our enterprise backlog objectives;
periodic fluctuations in our operating results; fluctuations in currency
exchange rates; our ability to manage our expected growth; risks related
to our substantial debt balances and our ability to generate or obtain
sufficient capital to service our debt and fund our business; our
ability to maintain the security and integrity of our systems; risks
associated with the privacy and protection of information in our
possession; our ability to increase our penetration in our principal
existing markets and expand into additional markets; our ability to
expand into new geographic markets; delays in market adoption and
penetration of our products and services; difficulties developing,
integrating and introducing new products and services; our dependence on
the volume of financial and strategic business transactions; our
dependence on customer referrals and relationships; our ability to
maintain and expand our direct sales capabilities; our ability to
develop and maintain strategic relationships to sell and deliver our
solutions; customer renewal rates and attrition; our ability to maintain
the compatibility of our services with third-party applications;
competition and our ability to maintain our average sales prices; our
ability to adapt to changing technologies; interruptions or delays in
our service; international risks; uncertainties surrounding domestic and
global economic conditions; our ability to protect our intellectual
property; costs of being a public company; and risks related to changes
in laws, regulations or governmental policy, including data privacy and
tax regulations. Further information on these and other factors that
could affect our financial results is contained in our public filings
with the Securities and Exchange Commission from time to time, including
our Annual Report on Form 10-K for the year ended December 31, 2014 and
subsequent quarterly reports. Existing and prospective investors are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof.
Intralinks undertakes no obligation to update or revise the information
contained in this press release, whether as a result of new information,
future events or circumstances or otherwise.
"Intralinks", "Intralinks VIA" and the Intralinks stylized logo are
registered trademarks of Intralinks, Inc. © 2015 Intralinks, Inc.
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Intralinks Holdings, Inc.
Consolidated Balance Sheets
(In Thousands, Except Share Data)
(unaudited)
|
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|
|
|
|
|
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September 30,
2015
|
|
|
December 31,
2014
|
|
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ASSETS
|
|
|
|
|
|
|
|
|
Current assets:
|
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|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
$
|
39,435
|
|
|
$
|
40,682
|
|
|
Investments
|
|
|
17,481
|
|
|
11,825
|
|
|
Accounts receivable, net of allowances of $4,582 and $3,158,
respectively
|
|
|
52,165
|
|
|
47,338
|
|
|
Deferred taxes
|
|
|
6,059
|
|
|
9,578
|
|
|
Prepaid expenses
|
|
|
7,455
|
|
|
6,602
|
|
|
Other current assets
|
|
|
4,217
|
|
|
3,626
|
|
|
Total current assets
|
|
|
126,812
|
|
|
119,651
|
|
|
Investments
|
|
|
-
|
|
|
12,630
|
|
|
Fixed assets, net
|
|
|
20,863
|
|
|
16,245
|
|
|
Capitalized software, net
|
|
|
44,269
|
|
|
39,798
|
|
|
Goodwill
|
|
|
224,383
|
|
|
224,383
|
|
|
Other intangibles, net
|
|
|
44,094
|
|
|
62,055
|
|
|
Other assets
|
|
|
7,900
|
|
|
6,676
|
|
|
Total assets
|
|
|
$
|
468,321
|
|
|
$
|
481,438
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
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|
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Current liabilities:
|
|
|
|
|
|
|
|
|
Accounts Payable
|
|
|
$
|
13,014
|
|
|
$
|
10,624
|
|
|
Current portion of long-term debt
|
|
|
800
|
|
|
906
|
|
|
Deferred revenue
|
|
|
52,525
|
|
|
49,193
|
|
|
Accrued expenses and other current liabilities
|
|
|
27,997
|
|
|
26,974
|
|
|
Total current liabilities
|
|
|
94,336
|
|
|
87,697
|
|
|
Long-term debt
|
|
|
77,453
|
|
|
77,933
|
|
|
Deferred taxes
|
|
|
6,059
|
|
|
9,578
|
|
|
Other long-term liabilities
|
|
|
4,882
|
|
|
5,291
|
|
|
Commitments and contingencies
|
|
|
|
|
|
|
|
|
Stockholders' equity:
|
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|
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|
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Undesignated Preferred Stock, $0.001 par value; 10,000,000 shares
authorized; 0 shares issued and outstanding
|
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-
|
|
|
-
|
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Common Stock, $0.001 par value; 300,000,000 shares authorized;
58,257,919 and
57,084,340 shares issued and outstanding,
respectively
|
|
|
58
|
|
|
57
|
|
|
Additional paid-in capital
|
|
|
453,205
|
|
|
441,596
|
|
|
Accumulated deficit
|
|
|
(163,614
|
)
|
|
(139,210
|
)
|
|
Accumulated other comprehensive loss
|
|
|
(4,058
|
)
|
|
(1,504
|
)
|
|
Total stockholders' equity
|
|
|
285,591
|
|
|
300,939
|
|
|
Total liabilities and stockholders' equity
|
|
|
$
|
468,321
|
|
|
$
|
481,438
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intralinks Holdings, Inc.
Consolidated Statements of Operations
(In Thousands, Except Share and Per Share Data)
(unaudited)
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Three months ended September 30,
|
|
Nine months ended September 30,
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|
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2015
|
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2014
|
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2015
|
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2014
|
|
Revenue
|
|
|
|
$
|
69,588
|
|
|
$
|
65,605
|
|
|
$
|
204,869
|
|
|
$
|
188,403
|
|
|
Cost of revenue
|
|
|
|
19,304
|
|
|
17,082
|
|
|
57,189
|
|
|
51,167
|
|
|
Gross profit
|
|
|
|
50,284
|
|
|
48,523
|
|
|
147,680
|
|
|
137,236
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|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
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Sales and marketing
|
|
|
|
29,496
|
|
|
29,366
|
|
|
91,666
|
|
|
85,357
|
|
|
General and administrative
|
|
|
|
18,652
|
|
|
17,930
|
|
|
55,406
|
|
|
52,883
|
|
|
Product development
|
|
|
|
6,859
|
|
|
5,150
|
|
|
19,107
|
|
|
16,075
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|
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Total operating expenses
|
|
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|
55,007
|
|
|
52,446
|
|
|
166,179
|
|
|
154,315
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|
Loss from operations
|
|
|
|
(4,723
|
)
|
|
(3,923
|
)
|
|
(18,499
|
)
|
|
(17,079
|
)
|
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Interest expense
|
|
|
|
1,124
|
|
|
1,126
|
|
|
3,323
|
|
|
3,091
|
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|
Amortization of debt issuance costs
|
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|
|
143
|
|
|
143
|
|
|
429
|
|
|
436
|
|
|
Other expense, net
|
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|
|
151
|
|
|
995
|
|
|
989
|
|
|
786
|
|
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Net loss before income tax
|
|
|
|
(6,141
|
)
|
|
(6,187
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)
|
|
(23,240
|
)
|
|
(21,392
|
)
|
|
Income tax expense (benefit)
|
|
|
|
420
|
|
|
(1,836
|
)
|
|
1,164
|
|
|
(5,989
|
)
|
|
Net loss
|
|
|
|
$
|
(6,561
|
)
|
|
$
|
(4,351
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)
|
|
$
|
(24,404
|
)
|
|
$
|
(15,403
|
)
|
|
Net loss per common share:
|
|
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|
|
|
|
|
|
|
|
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Basic
|
|
|
|
$
|
(0.11
|
)
|
|
$
|
(0.08
|
)
|
|
$
|
(0.43
|
)
|
|
$
|
(0.28
|
)
|
|
Diluted
|
|
|
|
$
|
(0.11
|
)
|
|
$
|
(0.08
|
)
|
|
$
|
(0.43
|
)
|
|
$
|
(0.28
|
)
|
|
Weighted average number of shares:
|
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|
|
|
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|
|
|
|
|
|
Basic
|
|
|
|
57,446,774
|
|
|
56,001,583
|
|
|
56,970,515
|
|
|
55,799,506
|
|
|
Diluted
|
|
|
|
57,446,774
|
|
|
56,001,583
|
|
|
56,970,515
|
|
|
55,799,506
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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Intralinks Holdings, Inc.
Consolidated Statements of Cash Flows
(In Thousands)
(unaudited)
|
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|
|
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|
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Nine months ended September 30,
|
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|
|
2015
|
|
2014
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
Net loss
|
|
|
$
|
(24,404
|
)
|
|
$
|
(15,403
|
)
|
|
Adjustments to reconcile net loss to net cash provided by operating
activities:
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
20,222
|
|
|
18,779
|
|
|
Amortization of intangible assets
|
|
|
17,961
|
|
|
17,803
|
|
|
Stock-based compensation expense
|
|
|
8,932
|
|
|
7,684
|
|
|
Deferred income tax benefit
|
|
|
-
|
|
|
(9,100
|
)
|
|
Other, net
|
|
|
3,192
|
|
|
3,206
|
|
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
Accounts receivable
|
|
|
(7,419
|
)
|
|
(12,070
|
)
|
|
Prepaid expenses and other assets
|
|
|
(2,510
|
)
|
|
(1,814
|
)
|
|
Accounts payable
|
|
|
2,254
|
|
|
914
|
|
|
Accrued expenses and other liabilities
|
|
|
349
|
|
|
(929
|
)
|
|
Deferred revenue
|
|
|
3,577
|
|
|
4,522
|
|
|
Net cash provided by operating activities
|
|
|
22,154
|
|
|
13,592
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
Capitalized software development costs
|
|
|
(18,594
|
)
|
|
(19,652
|
)
|
|
Capital expenditures
|
|
|
(10,589
|
)
|
|
(7,041
|
)
|
|
Purchases of investments
|
|
|
-
|
|
|
(27,062
|
)
|
|
Maturities of investments
|
|
|
6,750
|
|
|
29,179
|
|
|
Purchases of cost method investments
|
|
|
(1,000
|
)
|
|
(3,499
|
)
|
|
Acquisitions, net of cash acquired
|
|
|
-
|
|
|
(8,632
|
)
|
|
Restricted cash
|
|
|
-
|
|
|
2,443
|
|
|
Net cash used in investing activities
|
|
|
(23,433
|
)
|
|
(34,264
|
)
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
Proceeds from issuance of long-term debt
|
|
|
-
|
|
|
79,200
|
|
|
Payments on long-term debt
|
|
|
(600
|
)
|
|
(75,298
|
)
|
|
Payments of outstanding financing arrangements
|
|
|
(228
|
)
|
|
(300
|
)
|
|
Debt issuance costs
|
|
|
-
|
|
|
(2,829
|
)
|
|
Exercise of stock options and issuance of common stock, net of
withholding taxes
|
|
|
2,677
|
|
|
474
|
|
|
Other
|
|
|
(562
|
)
|
|
(188
|
)
|
|
Net cash provided by financing activities
|
|
|
1,287
|
|
|
1,059
|
|
|
Effect of foreign exchange rate changes on cash and cash equivalents
|
|
|
(1,255
|
)
|
|
(44
|
)
|
|
Net decrease in cash and cash equivalents
|
|
|
(1,247
|
)
|
|
(19,657
|
)
|
|
Cash and cash equivalents at beginning of period
|
|
|
40,682
|
|
|
50,540
|
|
|
Cash and cash equivalents at end of period
|
|
|
$
|
39,435
|
|
|
$
|
30,883
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intralinks Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(In Thousands)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
Gross profit
|
|
|
$
|
50,284
|
|
|
$
|
48,523
|
|
|
$
|
147,680
|
|
|
$
|
137,236
|
|
|
Gross margin
|
|
|
72.3
|
%
|
|
74.0
|
%
|
|
72.1
|
%
|
|
72.8
|
%
|
|
Cost of revenue - amortization of intangible assets
|
|
|
2,083
|
|
|
2,089
|
|
|
6,248
|
|
|
6,123
|
|
|
Cost of revenue - stock-based compensation expense
|
|
|
142
|
|
|
151
|
|
|
358
|
|
|
423
|
|
|
Non-GAAP adjusted gross profit
|
|
|
$
|
52,509
|
|
|
$
|
50,763
|
|
|
$
|
154,286
|
|
|
$
|
143,782
|
|
|
Non-GAAP adjusted gross margin
|
|
|
75.5
|
%
|
|
77.4
|
%
|
|
75.3
|
%
|
|
76.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
|
$
|
(4,723
|
)
|
|
$
|
(3,923
|
)
|
|
$
|
(18,499
|
)
|
|
$
|
(17,079
|
)
|
|
Amortization of intangible assets
|
|
|
5,986
|
|
|
5,989
|
|
|
17,961
|
|
|
17,803
|
|
|
Stock-based compensation expense
|
|
|
3,068
|
|
|
2,787
|
|
|
8,932
|
|
|
7,684
|
|
|
Non-GAAP adjusted operating income
|
|
|
$
|
4,331
|
|
|
$
|
4,853
|
|
|
$
|
8,394
|
|
|
$
|
8,408
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss before income tax
|
|
|
$
|
(6,141
|
)
|
|
$
|
(6,187
|
)
|
|
$
|
(23,240
|
)
|
|
$
|
(21,392
|
)
|
|
Amortization of intangible assets
|
|
|
5,986
|
|
|
5,989
|
|
|
17,961
|
|
|
17,803
|
|
|
Stock-based compensation expense
|
|
|
3,068
|
|
|
2,787
|
|
|
8,932
|
|
|
7,684
|
|
|
Non-GAAP adjusted net income before tax
|
|
|
2,913
|
|
|
2,589
|
|
|
3,653
|
|
|
4,095
|
|
|
Non-GAAP income tax expense
|
|
|
1,107
|
|
|
984
|
|
|
1,388
|
|
|
1,556
|
|
|
Non-GAAP adjusted net income
|
|
|
$
|
1,806
|
|
|
$
|
1,605
|
|
|
$
|
2,265
|
|
|
$
|
2,539
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
|
$
|
(6,561
|
)
|
|
$
|
(4,351
|
)
|
|
$
|
(24,404
|
)
|
|
$
|
(15,403
|
)
|
|
Depreciation and amortization
|
|
|
6,661
|
|
|
6,545
|
|
|
20,222
|
|
|
18,779
|
|
|
Amortization of intangible assets
|
|
|
5,986
|
|
|
5,989
|
|
|
17,961
|
|
|
17,803
|
|
|
Stock-based compensation expense
|
|
|
3,068
|
|
|
2,787
|
|
|
8,932
|
|
|
7,684
|
|
|
Interest expense
|
|
|
1,124
|
|
|
1,126
|
|
|
3,323
|
|
|
3,091
|
|
|
Amortization of debt issuance costs
|
|
|
143
|
|
|
143
|
|
|
429
|
|
|
436
|
|
|
Other expense, net
|
|
|
151
|
|
|
995
|
|
|
989
|
|
|
786
|
|
|
Income tax expense (benefit)
|
|
|
420
|
|
|
(1,836
|
)
|
|
1,164
|
|
|
(5,989
|
)
|
|
Non-GAAP adjusted EBITDA
|
|
|
$
|
10,992
|
|
|
$
|
11,398
|
|
|
$
|
28,616
|
|
|
$
|
27,187
|
|
|
Non-GAAP adjusted EBITDA margin
|
|
|
15.8
|
%
|
|
17.4
|
%
|
|
14.0
|
%
|
|
14.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
|
$
|
14,204
|
|
|
$
|
2,705
|
|
|
$
|
22,154
|
|
|
$
|
13,592
|
|
|
Capitalized software development costs
|
|
|
(7,382
|
)
|
|
(6,550
|
)
|
|
(18,594
|
)
|
|
(19,652
|
)
|
|
Capital expenditures
|
|
|
(7,809
|
)
|
|
(2,598
|
)
|
|
(10,589
|
)
|
|
(7,041
|
)
|
|
Free cash flow
|
|
|
$
|
(987
|
)
|
|
$
|
(6,443
|
)
|
|
$
|
(7,029
|
)
|
|
$
|
(13,101
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intralinks Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures - Guidance
(In Thousands)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ending
December 31,
2015
|
|
Year Ending
December 31,
2015
|
|
Gross profit
|
|
|
|
$
|
48,642
|
|
|
$
|
196,322
|
|
|
Gross margin
|
|
|
|
70.1
|
%
|
|
71.6
|
%
|
|
Cost of revenue - amortization of intangible assets
|
|
|
|
2,083
|
|
|
8,331
|
|
|
Cost of revenue - stock-based compensation expense
|
|
|
|
140
|
|
|
498
|
|
|
Non-GAAP adjusted gross profit
|
|
|
|
$
|
50,865
|
|
|
$
|
205,151
|
|
|
Non-GAAP adjusted gross margin
|
|
|
|
73.3
|
%
|
|
74.8
|
%
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
|
|
$
|
(6,407
|
)
|
|
$
|
(24,906
|
)
|
|
Amortization of intangible assets
|
|
|
|
5,988
|
|
|
23,949
|
|
|
Stock-based compensation expense
|
|
|
|
3,025
|
|
|
11,957
|
|
|
Non-GAAP adjusted operating income
|
|
|
|
$
|
2,606
|
|
|
$
|
11,000
|
|
|
|
|
|
|
|
|
|
|
Net loss before income tax
|
|
|
|
$
|
(7,382
|
)
|
|
$
|
(30,622
|
)
|
|
Amortization of intangible assets
|
|
|
|
5,988
|
|
|
23,949
|
|
|
Stock-based compensation expense
|
|
|
|
3,025
|
|
|
11,957
|
|
|
Non-GAAP adjusted net income before tax
|
|
|
|
1,631
|
|
|
5,284
|
|
|
Non-GAAP income tax expense
|
|
|
|
620
|
|
|
2,008
|
|
|
Non-GAAP adjusted net income
|
|
|
|
$
|
1,011
|
|
|
$
|
3,276
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
|
|
$
|
(7,861
|
)
|
|
$
|
(32,265
|
)
|
|
Depreciation and amortization
|
|
|
|
7,778
|
|
|
28,000
|
|
|
Amortization of intangible assets
|
|
|
|
5,988
|
|
|
23,949
|
|
|
Stock-based compensation expense
|
|
|
|
3,025
|
|
|
11,957
|
|
|
Interest expense
|
|
|
|
881
|
|
|
4,204
|
|
|
Amortization of debt issuance costs
|
|
|
|
143
|
|
|
572
|
|
|
Other (income) expense, net
|
|
|
|
(50
|
)
|
|
939
|
|
|
Income tax expense
|
|
|
|
480
|
|
|
1,644
|
|
|
Non-GAAP adjusted EBITDA
|
|
|
|
$
|
10,384
|
|
|
$
|
39,000
|
|
|
Non-GAAP adjusted EBITDA margin
|
|
|
|
15.0
|
%
|
|
14.2
|
%
|
|
|
|
|
|
|
|
|
|
|
Note: All forward-looking figures presented in these tables are
stated at the mid-point of the estimated range.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151104006244/en/
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