Exhibit 99.1
SELECTED CONSOLIDATED FINANCIAL DATA
The consolidated selected financial data set forth below presents the consolidated financial results of Ask Jeeves, Inc. and our subsidiaries and should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and our Consolidated Financial Statements and the related notes, included in this Current Report. The consolidated operating information set forth below for the periods in the three years ended December 31, 2002 and the consolidated balance sheet data as of December 31, 2002 and 2001, are derived from and qualified by reference to our audited financial statements included in this Current Report. The consolidated operating information set forth below for the years ended December 31, 1999 and 1998, and the consolidated balance sheet data as of December 31, 2000, 1999 and 1998 are derived from and qualified by reference to our audited financial statements that are not included in this Current Report. Our historical results are not necessarily indicative of results for any future period.
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| | | | | Year Ended December 31, |
| | | | | 2002 | | 2001 | | 2000 | | 1999 | | 1998 |
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Consolidated Statements of Operations Data: | | | | | | | | | | | | | | | | | | | | |
Revenues | | $ | 65,048 | | | $ | 51,569 | | | $ | 71,799 | | | $ | 14,682 | | | $ | 577 | |
Cost of revenues | | | 19,295 | | | | 20,526 | | | | 22,691 | | | | 4,509 | | | | 603 | |
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Gross profit (loss) | | | 45,753 | | | | 31,043 | | | | 49,108 | | | | 10,173 | | | | (26 | ) |
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Operating expenses: | | | | | | | | | | | | | | | | | | | | |
| Product development | | | 13,286 | | | | 14,242 | | | | 14,537 | | | | 6,027 | | | | 1,104 | |
| Sales and marketing | | | 25,943 | | | | 29,741 | | | | 65,182 | | | | 25,666 | | | | 1,614 | |
| General and administrative | | | 15,138 | | | | 17,461 | | | | 27,070 | | | | 6,952 | | | | 1,100 | |
| Stock-based compensation | | | 76 | | | | 597 | | | | 2,534 | | | | 3,329 | | | | 25 | |
| Amortization of goodwill and other intangible assets | | | — | | | | 22,823 | | | | 82,581 | | | | — | | | | — | |
| Write-off of in-process technology | | | — | | | | — | | | | 11,652 | | | | 183 | | | | — | |
| Impairment of long-lived assets | | | 2,593 | | | | 355,183 | | | | — | | | | — | | | | — | |
| Restructuring costs | | | 1,653 | | | | 17,337 | | | | 12,456 | | | | — | | | | — | |
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| | | Total operating expenses | | | 58,689 | | | | 457,384 | | | | 216,012 | | | | 42,157 | | | | 3,843 | |
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Operating loss | | | (12,936 | ) | | | (426,341 | ) | | | (166,904 | ) | | | (31,984 | ) | | | (3,869 | ) |
Gain on dissolution of joint venture | | | 974 | | | | 13,356 | | | | — | | | | — | | | | — | |
Interest and other income, net | | | 1,106 | | | | 3,221 | | | | 2,252 | | | | 1,735 | | | | 52 | |
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Loss before income tax provision | | | (10,856 | ) | | | (409,764 | ) | | | (164,652 | ) | | | (30,249 | ) | | | (3,817 | ) |
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Income tax provision | | | — | | | | — | | | | 1,810 | | | | — | | | | — | |
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Loss from continuing operations | | $ | (10,856 | ) | | $ | (409,764 | ) | | $ | (166,462 | ) | | $ | (30,249 | ) | | $ | (3,817 | ) |
Loss from discontinued operations | | | (10,447 | ) | | | (15,494 | ) | | | (23,144 | ) | | | (22,680 | ) | | | (2,989 | ) |
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Net loss | | $ | (21,303 | ) | | $ | (425,258 | ) | | $ | (189,606 | ) | | $ | (52,929 | ) | | $ | (6,806 | ) |
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Basic and diluted net loss per share: | | | | | | | | | | | | | | | | | | | | |
Loss from continuing operations | | $ | (0.27 | ) | | $ | (11.06 | ) | | $ | (4.84 | ) | | $ | (1.51 | ) | | $ | (0.42 | ) |
Loss from discontinued operations | | $ | (0.25 | ) | | $ | (0.42 | ) | | $ | (0.67 | ) | | $ | (1.13 | ) | | $ | (0.32 | ) |
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Net loss per share | | $ | (0.52 | ) | | $ | (11.48 | ) | | $ | (5.51 | ) | | $ | (2.64 | ) | | $ | (0.74 | ) |
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Weighted average shares outstanding used in computing basic and diluted net loss per share | | | 40,698,137 | | | | 37,032,933 | | | | 34,399,200 | | | | 20,046,959 | | | | 9,162,624 | |
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Revenues from related parties | | $ | 6,189 | | | $ | 18,991 | | | $ | 12,308 | | | $ | 118 | | | $ | — | |
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| | December 31, |
| | 2002 | | 2001 | | 2000 | | 1999 | | 1998 |
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Consolidated Balance Sheet Data: | | | | | | | | | | | | | | | | | | | | |
Cash, cash equivalents and marketable securities | | $ | 44,440 | | | $ | 76,602 | | | $ | 104,966 | | | $ | 51,530 | | | $ | 8,511 | |
Total assets | | $ | 72,176 | | | $ | 111,338 | | | $ | 537,867 | | | $ | 75,764 | | | $ | 9,933 | |
Capital lease obligations, less current portion | | $ | — | | | $ | 573 | | | $ | 1,465 | | | $ | 2,351 | | | $ | 46 | |
Total stockholders’ equity | | $ | 29,277 | | | $ | 47,214 | | | $ | 465,768 | | | $ | 41,451 | | | $ | 8,291 | |