Exhibit 99.2
Supplemental Data Sheet Amounts in thousands (except customers, interactions and employees)
Unaudited
Last updated April 28, 2010
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| | Q1 | | Q2 | | Q3 | | Q4 | | | FY | | | Q1 | | Q2 | | Q3 | | Q4 | | | YTD | | | Q1 |
| | 2008 | | 2008 | | 2008 | | 2008 | | | 2008 | | | 2009 | | 2009 | | 2009 | | 2009 | | | 2009 | | | 2010 |
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Revenue | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenue | | | 32,898 | | | | 35,221 | | | | 36,237 | | | | 36,079 | | | | | 140,435 | | | | | 36,037 | | | | 36,340 | | | | 38,731 | | | | 41,579 | | | | | 152,687 | | | | | 42,102 | |
YoY Growth | | | 28 | % | | | 33 | % | | | 24 | % | | | 18 | % | | | | 25 | % | | | | 10 | % | | | 3 | % | | | 7 | % | | | 15 | % | | | | 9 | % | | | | 17 | % |
Recurring Revenue | | | 24,412 | | | | 25,459 | | | | 25,917 | | | | 26,476 | | | | | 102,264 | | | | | 25,955 | | | | 27,393 | | | | 29,741 | | | | 32,161 | | | | | 115,250 | | | | | 33,025 | |
YoY Growth | | | 27 | % | | | 25 | % | | | 19 | % | | | 12 | % | | | | 20 | % | | | | 6 | % | | | 8 | % | | | 15 | % | | | 21 | % | | | | 13 | % | | | | 27 | % |
Pro Service Revenue | | | 8,342 | | | | 9,648 | | | | 10,281 | | | | 9,588 | | | | | 37,859 | | | | | 9,992 | | | | 8,916 | | | | 8,977 | | | | 9,407 | | | | | 37,292 | | | | | 9,077 | |
YoY Growth | | | 42 | % | | | 67 | % | | | 49 | % | | | 46 | % | | | | 51 | % | | | | 20 | % | | | -8 | % | | | -13 | % | | | -2 | % | | | | -1 | % | | | | -9 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
North America Revenue % | | | 67 | % | | | 67 | % | | | 70 | % | | | 74 | % | | | | 69 | % | | | | 75 | % | | | 72 | % | | | 72 | % | | | 71 | % | | | | 72 | % | | | | 71 | % |
EMEA Revenue % | | | 25 | % | | | 25 | % | | | 22 | % | | | 19 | % | | | | 23 | % | | | | 18 | % | | | 19 | % | | | 19 | % | | | 19 | % | | | | 19 | % | | | | 19 | % |
APAC Revenue % | | | 8 | % | | | 8 | % | | | 8 | % | | | 7 | % | | | | 8 | % | | | | 7 | % | | | 9 | % | | | 9 | % | | | 10 | % | | | | 9 | % | | | | 10 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Bookings Metrics | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Bookings | | | 37,112 | | | | 43,416 | | | | 39,037 | | | | 46,215 | | | | | 165,780 | | | | | 23,746 | | | | 48,653 | | | | 51,733 | | | | 55,527 | | | | | 179,659 | | | | | 60,449 | |
% of Bookings Billed in Quarter | | | 72 | % | | | 74 | % | | | 76 | % | | | 77 | % | | | | | | | | | 75 | % | | | 55 | % | | | 60 | % | | | 54 | % | | | | | | | | | 40 | % |
Average Term (months) | | | 21 | | | | 20 | | | | 19 | | | | 21 | | | | | 20 | | | | | 19 | | | | 27 | | | | 21 | | | | 25 | | | | | 23 | | | | | 32 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Backlog | | | 138,629 | | | | 147,052 | | | | 145,088 | | | | 150,872 | | | | | | | | | | 138,000 | | | | 152,424 | | | | 166,305 | | | | 179,892 | | | | | | | | | | 196,225 | |
Current Backlog | | | 88,419 | | | | 95,498 | | | | 95,044 | | | | 101,995 | | | | | | | | | | 96,546 | | | | 103,984 | | | | 115,944 | | | | 121,275 | | | | | | | | | | 120,606 | |
Non-Current Backlog | | | 50,210 | | | | 51,554 | | | | 50,044 | | | | 48,877 | | | | | | | | | | 41,454 | | | | 48,440 | | | | 50,361 | | | | 58,617 | | | | | | | | | | 75,619 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Average Selling Price (ASP) | | | 90 | | | | 107 | | | | 98 | | | | 96 | | | | | 98 | | | | | 74 | | | | 99 | | | | 112 | | | | 95 | | | | | 102 | | | | | 91 | |
Deal Size Distribution | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
> $1M | | | 4 | | | | 6 | | | | 4 | | | | 7 | | | | | 21 | | | | | 1 | | | | 10 | | | | 7 | | | | 8 | | | | | 26 | | | | | 14 | |
$100K-$1M | | | 73 | | | | 86 | | | | 76 | | | | 91 | | | | | 326 | | | | | 59 | | | | 60 | | | | 83 | | | | 90 | | | | | 292 | | | | | 91 | |
<$100K | | | 464 | | | | 470 | | | | 528 | | | | 527 | | | | | 1,989 | | | | | 443 | | | | 421 | | | | 388 | | | | 435 | | | | | 1,687 | | | | | 423 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Top 4 industry sales-TTM | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
High-Tech | | | 18 | % | | | 21 | % | | | 22 | % | | | 23 | % | | | | | | | | | 21 | % | | | 21 | % | | | 22 | % | | | 20 | % | | | | | | | | | 22 | % |
Telecom | | | 19 | % | | | 15 | % | | | 13 | % | | | 13 | % | | | | | | | | | 12 | % | | | 10 | % | | | 13 | % | | | 16 | % | | | | | | | | | 15 | % |
Retail/CPG | | | 14 | % | | | 15 | % | | | 15 | % | | | 14 | % | | | | | | | | | 15 | % | | | 14 | % | | | 13 | % | | | 15 | % | | | | | | | | | 15 | % |
Public Sector | | | 13 | % | | | 12 | % | | | 12 | % | | | 14 | % | | | | | | | | | 14 | % | | | 15 | % | | | 18 | % | | | 16 | % | | | | | | | | | 15 | % |
All other | | | 36 | % | | | 37 | % | | | 38 | % | | | 36 | % | | | | | | | | | 38 | % | | | 40 | % | | | 34 | % | | | 33 | % | | | | | | | | | 33 | % |
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Margin & Earnings Metrics (Non-GAAP)* | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Gross Margin % | | | 63 | % | | | 64 | % | | | 64 | % | | | 67 | % | | | | 64 | % | | | | 67 | % | | | 70 | % | | | 71 | % | | | 70 | % | | | | 70 | % | | | | 69 | % |
Software Margin % | | | 80 | % | | | 81 | % | | | 80 | % | | | 81 | % | | | | 80 | % | | | | 81 | % | | | 82 | % | | | 83 | % | | | 82 | % | | | | 82 | % | | | | 83 | % |
Professional Services Margin % | | | 15 | % | | | 21 | % | | | 22 | % | | | 26 | % | | | | 21 | % | | | | 31 | % | | | 31 | % | | | 31 | % | | | 28 | % | | | | 30 | % | | | | 20 | % |
Operating expense as % of Revenue | | | 72 | % | | | 69 | % | | | 65 | % | | | 63 | % | | | | 67 | % | | | | 60 | % | | | 63 | % | | | 61 | % | | | 62 | % | | | | 62 | % | | | | 63 | % |
Operating Margin % | | | -9 | % | | | -5 | % | | | -1 | % | | | 4 | % | | | | -3 | % | | | | 7 | % | | | 7 | % | | | 10 | % | | | 8 | % | | | | 8 | % | | | | 6 | % |
Operating Margin | | | (2,976 | ) | | | (1,759 | ) | | | (444 | ) | | | 1,267 | | | | | (3,912 | ) | | | | 2,531 | | | | 2,510 | | | | 3,693 | | | | 3,408 | | | | | 12,142 | | | | | 2,490 | |
Non-GAAP EPS (Diluted) | | $ | (0.06 | ) | | $ | (0.04 | ) | | $ | — | | | $ | 0.06 | | | | $ | (0.04 | ) | | | $ | 0.09 | | | $ | 0.09 | | | $ | 0.12 | | | $ | 0.10 | | | | $ | 0.39 | | | | $ | 0.07 | |
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Other Metrics | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Headcount | | | 718 | | | | 765 | | | | 777 | | | | 737 | | | | | 737 | | | | | 742 | | | | 756 | | | | 792 | | | | 797 | | | | | 797 | | | | | 836 | |
New Customer | | | 64 | | | | 73 | | | | 68 | | | | 59 | | | | | 264 | | | | | 26 | | | | 53 | | | | 82 | ** | | | 51 | | | | | 212 | | | | | 46 | |
Total Customers | | | 1,800 | | | | 1,900 | | | | 1,900 | | | | 1,900 | | | | | 1,900 | | | | | 1,900 | | | | 1,900 | | | | 1,900 | | | | 1,900 | | | | | 1,900 | | | | | 1,900 | |
Interactions (in millions) | | | 463 | | | | 477 | | | | 576 | | | | 583 | | | | | 2,099 | | | | | 584 | | | | 586 | | | | 620 | | | | 704 | | | | | 2,494 | | | | | 765 | |
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* | | Excludes stock-based compensation and Q4’09 excludes stock-based compensation and $1M settlement gain |
|
** | | Q3’09 customer count includes acquired customers from HiveLive acquisition |
Note: The supplemental data sheet refers to certain non-GAAP financial results. Please refer to our reconciliations of GAAP, which can be found in our Company’s earnings release(s), which is posted on the Investor Relations portion of our website.
Consolidated Balance Sheets Amounts in thousands
Unaudited
Last updated April 28, 2010
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| | Mar 31, | | Jun 30, | | Sep 30, | | Dec 31, | | | Mar 31, | | Jun 30, | | Sep 30, | | Dec 31, | | | Mar 31, | | Jun 30, | | Sep 30, | | Dec 31, | | | Mar 31, |
| | 2007 | | 2007 | | 2007 | | 2007 | | | 2008 | | 2008 | | 2008 | | 2008 | | | 2009 | | 2009 | | 2009 | | 2009 | | | 2010 |
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Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | | 44,899 | | | | 33,842 | | | | 33,109 | | | | 43,681 | | | | | 44,591 | | | | 52,781 | | | | 51,145 | | | | 51,405 | | | | | 51,462 | | | | 46,987 | | | | 32,388 | | | | 41,546 | | | | | 43,114 | |
Short-term investments | | | 37,578 | | | | 52,911 | | | | 56,823 | | | | 52,644 | | | | | 36,585 | | | | 41,540 | | | | 46,444 | | | | 34,412 | | | | | 36,517 | | | | 42,808 | | | | 60,634 | | | | 54,977 | | | | | 55,293 | |
Accounts receivable | | | 25,050 | | | | 27,797 | | | | 24,690 | | | | 29,480 | | | | | 27,503 | | | | 26,722 | | | | 27,820 | | | | 36,770 | | | | | 24,220 | | | | 31,670 | | | | 31,034 | | | | 31,850 | | | | | 29,723 | |
Term receivables | | | 20,555 | | | | 15,756 | | | | 13,773 | | | | 13,069 | | | | | 9,616 | | | | 8,814 | | | | 6,875 | | | | 5,752 | | | | | 4,810 | | | | 4,107 | | | | 3,011 | | | | 2,417 | | | | | 1,762 | |
Less allowance for doubtful accounts | | | (2,273 | ) | | | (2,046 | ) | | | (2,009 | ) | | | (1,918 | ) | | | | (2,056 | ) | | | (2,177 | ) | | | (2,148 | ) | | | (2,277 | ) | | | | (1,901 | ) | | | (1,910 | ) | | | (1,701 | ) | | | (1,914 | ) | | | | (1,794 | ) |
Prepaid & other current assets | | | 3,676 | | | | 4,980 | | | | 5,786 | | | | 5,979 | | | | | 6,773 | | | | 7,082 | | | | 7,497 | | | | 7,531 | | | | | 7,593 | | | | 7,815 | | | | 8,689 | | | | 8,828 | | | | | 9,620 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 129,485 | | | | 133,240 | | | | 132,172 | | | | 142,935 | | | | | 123,012 | | | | 134,762 | | | | 137,633 | | | | 133,593 | | | | | 122,701 | | | | 131,477 | | | | 134,055 | | | | 137,704 | | | | | 137,718 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term investments | | | — | | | | — | | | | — | | | | — | | | | | 17,810 | | | | 11,925 | | | | 4,612 | | | | 4,963 | | | | | 4,980 | | | | 4,792 | | | | — | | | | — | | | | | — | |
Property and equipment, net | | | 10,715 | | | | 10,494 | | | | 10,451 | | | | 10,856 | | | | | 10,807 | | | | 10,798 | | | | 10,377 | | | | 10,141 | | | | | 9,187 | | | | 9,775 | | | | 9,781 | | | | 10,122 | | | | | 10,154 | |
Term receivables, noncurrent | | | 19,349 | | | | 13,239 | | | | 11,170 | | | | 9,859 | | | | | 8,059 | | | | 5,728 | | | | 4,420 | | | | 3,547 | | | | | 2,804 | | | | 2,159 | | | | 1,447 | | | | 1,105 | | | | | 810 | |
Intangible and other assets, net | | | 9,380 | | | | 9,352 | | | | 9,221 | | | | 10,136 | | | | | 10,016 | | | | 10,025 | | | | 10,268 | | | | 10,093 | | | | | 9,274 | | | | 9,379 | | | | 14,991 | | | | 15,504 | | | | | 16,181 | |
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Total assets | | | 168,929 | | | | 166,325 | | | | 163,014 | | | | 173,786 | | | | | 169,704 | | | | 173,238 | | | | 167,310 | | | | 162,337 | | | | | 148,946 | | | | 157,582 | | | | 160,274 | | | | 164,435 | | | | | 164,863 | |
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Liabilities, Preferred Stock and Stockholders’ Equity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | �� | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Accounts payable and accrued liabilities | | | 13,818 | | | | 14,688 | | | | 14,855 | | | | 15,790 | | | | | 18,146 | | | | 17,919 | | | | 17,405 | | | | 16,223 | | | | | 14,309 | | | | 17,847 | | | | 16,601 | | | | 16,573 | | | | | 19,967 | |
Commissions and bonuses payable | | | 2,902 | | | | 2,918 | | | | 2,889 | | | | 5,044 | | | | | 3,531 | | | | 4,279 | | | | 4,351 | | | | 5,665 | | | | | 3,084 | | | | 4,958 | | | | 4,838 | | | | 6,271 | | | | | 4,964 | |
Current portion of long-term debt | | | 32 | | | | 32 | | | | 42 | | | | 43 | | | | | 44 | | | | 44 | | | | 45 | | | | 46 | | | | | 46 | | | | 45 | | | | 34 | | | | 22 | | | | | 10 | |
Deferred revenue | | | 67,444 | | | | 66,660 | | | | 69,665 | | | | 76,995 | | | | | 73,575 | | | | 76,693 | | | | 72,008 | | | | 77,584 | | | | | 72,885 | | | | 75,972 | | | | 75,643 | | | | 74,446 | | | | | 68,103 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 84,196 | | | | 84,298 | | | | 87,451 | | | | 97,872 | | | | | 95,296 | | | | 98,935 | | | | 93,809 | | | | 99,518 | | | | | 90,324 | | | | 98,822 | | | | 97,116 | | | | 97,312 | | | | | 93,044 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Deferred revenue, noncurrent | | | 41,241 | | | | 41,718 | | | | 37,139 | | | | 37,665 | | | | | 38,079 | | | | 39,289 | | | | 37,201 | | | | 35,614 | | | | | 30,322 | | | | 28,112 | | | | 28,298 | | | | 26,881 | | | | | 27,592 | |
Long-term debt | | | 77 | | | | 69 | | | | 79 | | | | 68 | | | | | 57 | | | | 45 | | | | 34 | | | | 22 | | | | | 10 | | | | — | | | | — | | | | — | | | | | — | |
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Stockholders’ equity (deficit): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Common stock | | | 33 | | | | 33 | | | | 33 | | | | 33 | | | | | 34 | | | | 34 | | | | 34 | | | | 34 | | | | | 34 | | | | 34 | | | | 34 | | | | 34 | | | | | 34 | |
Additional paid-in capital | | | 88,064 | | | | 90,750 | | | | 92,486 | | | | 95,377 | | | | | 97,107 | | | | 99,187 | | | | 101,337 | | | | 102,662 | | | | | 104,345 | | | | 107,281 | | | | 109,394 | | | | 112,439 | | | | | 115,680 | |
Treasury stock, at cost | | | — | | | | — | | | | — | | | | — | | | | | — | | | | — | | | | — | | | | (13,209 | ) | | | | (15,007 | ) | | | (15,007 | ) | | | (15,007 | ) | | | (15,007 | ) | | | | (15,007 | ) |
Other comprehensive income (loss) | | | (384 | ) | | | (504 | ) | | | (551 | ) | | | (292 | ) | | | | (536 | ) | | | (787 | ) | | | (193 | ) | | | 1,916 | | | | | 1,875 | | | | 1,260 | | | | 1,394 | | | | 1,125 | | | | | 1,284 | |
Accumulated deficit | | | (44,298 | ) | | | (50,039 | ) | | | (53,623 | ) | | | (56,937 | ) | | | | (60,333 | ) | | | (63,465 | ) | | | (64,912 | ) | | | (64,220 | ) | | | | (62,957 | ) | | | (62,920 | ) | | | (60,955 | ) | | | (58,349 | ) | | | | (57,764 | ) |
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Total stockholders’ equity | | | 43,415 | | | | 40,240 | | | | 38,345 | | | | 38,181 | | | | | 36,272 | | | | 34,969 | | | | 36,266 | | | | 27,183 | | | | | 28,290 | | | | 30,648 | | | | 34,860 | | | | 40,242 | | | | | 44,227 | |
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Total liabilities, preferred stock and stockholders’ equity | | | 168,929 | | | | 166,325 | | | | 163,014 | | | | 173,786 | | | | | 169,704 | | | | 173,238 | | | | 167,310 | | | | 162,337 | | | | | 148,946 | | | | 157,582 | | | | 160,274 | | | | 164,435 | | | | | 164,863 | |
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Consolidated Statements of Operations Amounts in thousands (except per share amounts)
Unaudited
Last updated April 28, 2010
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| | 2007 | | | | 2008 | | | | 2009 | | | | 2010 | |
| | Q1 | | | Q2 | | | Q3 | | | Q4 | | | FY | | | | Q1 | | | Q2 | | | Q3 | | | Q4 | | | YTD | | | | Q1 | | | Q2 | | | Q3 | | | Q4 | | | YTD | | | | Q1 | |
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Revenue: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Software, hosting and support | | | 19,819 | | | | 20,693 | | | | 22,366 | | | | 24,105 | | | | 86,983 | | | | | 24,556 | | | | 25,573 | | | | 25,956 | | | | 26,491 | | | | 102,576 | | | | | 26,045 | | | | 27,424 | | | | 29,754 | | | | 32,172 | | | | 115,395 | | | | | 33,025 | |
Professional services | | | 5,883 | | | | 5,772 | | | | 6,880 | | | | 6,559 | | | | 25,094 | | | | | 8,342 | | | | 9,648 | | | | 10,281 | | | | 9,588 | | | | 37,859 | | | | | 9,992 | | | | 8,916 | | | | 8,977 | | | | 9,407 | | | | 37,292 | | | | | 9,077 | |
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Total revenue | | | 25,702 | | | | 26,465 | | | | 29,246 | | | | 30,664 | | | | 112,077 | | | | | 32,898 | | | | 35,221 | | | | 36,237 | | | | 36,079 | | | | 140,435 | | | | | 36,037 | | | | 36,340 | | | | 38,731 | | | | 41,579 | | | | 152,687 | | | | | 42,102 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cost of revenue: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Software, hosting and support | | | 4,394 | | | | 4,565 | | | | 4,604 | | | | 4,848 | | | | 18,411 | | | | | 5,035 | | | | 5,043 | | | | 5,305 | | | | 5,014 | | | | 20,397 | | | | | 4,949 | | | | 4,954 | | | | 5,232 | | | | 5,813 | | | | 20,948 | | | | | 5,879 | |
Professional services | | | 5,171 | | | | 5,036 | | | | 5,667 | | | | 6,138 | | | | 22,012 | | | | | 7,285 | | | | 7,810 | | | | 8,133 | | | | 7,212 | | | | 30,440 | | | | | 7,008 | | | | 6,346 | | | | 6,365 | | | | 6,891 | | | | 26,610 | | | | | 7,332 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total cost of revenue | | | 9,565 | | | | 9,601 | | | | 10,271 | | | | 10,986 | | | | 40,423 | | | | | 12,320 | | | | 12,853 | | | | 13,438 | | | | 12,226 | | | | 50,837 | | | | | 11,957 | | | | 11,300 | | | | 11,597 | | | | 12,704 | | | | 47,558 | | | | | 13,211 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | 16,137 | | | | 16,864 | | | | 18,975 | | | | 19,678 | | | | 71,654 | | | | | 20,578 | | | | 22,368 | | | | 22,799 | | | | 23,853 | | | | 89,598 | | | | | 24,080 | | | | 25,040 | | | | 27,134 | | | | 28,875 | | | | 105,129 | | | | | 28,891 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Sales and marketing | | | 15,727 | | | | 15,788 | | | | 16,516 | | | | 17,087 | | | | 65,118 | | | | | 16,818 | | | | 17,627 | | | | 16,889 | | | | 16,294 | | | | 67,628 | | | | | 14,863 | | | | 16,008 | | | | 16,175 | | | | 17,705 | | | | 64,751 | | | | | 18,724 | |
Research and development | | | 4,296 | | | | 4,343 | | | | 4,308 | | | | 4,137 | | | | 17,084 | | | | | 4,486 | | | | 4,507 | | | | 4,671 | | | | 4,628 | | | | 18,292 | | | | | 4,756 | | | | 5,051 | | | | 5,100 | | | | 5,314 | | | | 20,221 | | | | | 5,132 | |
General and administrative | | | 2,860 | | | | 3,178 | | | | 2,680 | | | | 2,782 | | | | 11,500 | | | | | 3,516 | | | | 3,890 | | | | 3,215 | | | | 2,994 | | | | 13,615 | | | | | 3,446 | | | | 4,207 | | | | 4,018 | | | | 4,130 | | | | 15,801 | | | | | 4,299 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total operating expenses | | | 22,883 | | | | 23,309 | | | | 23,504 | | | | 24,006 | | | | 93,702 | | | | | 24,820 | | | | 26,024 | | | | 24,775 | | | | 23,916 | | | | 99,535 | | | | | 23,065 | | | | 25,266 | | | | 25,293 | | | | 27,149 | | | | 100,773 | | | | | 28,155 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating income (loss) | | | (6,746 | ) | | | (6,445 | ) | | | (4,529 | ) | | | (4,328 | ) | | | (22,048 | ) | | | | (4,242 | ) | | | (3,656 | ) | | | (1,976 | ) | | | (63 | ) | | | (9,937 | ) | | | | 1,015 | | | | (226 | ) | | | 1,841 | | | | 1,726 | | | | 4,356 | | | | | 736 | |
Interest and other income, net | | | 828 | | | | 885 | | | | 1,004 | | | | 966 | | | | 3,683 | | | | | 938 | | | | 519 | | | | 552 | | | | 687 | | | | 2,696 | | | | | 401 | | | | 351 | | | | 342 | | | | 1,000 | | | | 2,094 | | | | | 183 | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | (5,918 | ) | | | (5,560 | ) | | | (3,525 | ) | | | (3,362 | ) | | | (18,365 | ) | | | | (3,304 | ) | | | (3,137 | ) | | | (1,424 | ) | | | 624 | | | | (7,241 | ) | | | | 1,416 | | | | 125 | | | | 2,183 | | | | 2,726 | | | | 6,450 | | | | | 919 | |
(Provision) benefit for income taxes | | | (84 | ) | | | (181 | ) | | | (59 | ) | | | 48 | | | | (276 | ) | | | | (92 | ) | | | 5 | | | | (23 | ) | | | 68 | | | | (42 | ) | | | | (153 | ) | | | (89 | ) | | | (218 | ) | | | (119 | ) | | | (579 | ) | | | | (334 | ) |
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Net income (loss) | | | (6,002 | ) | | | (5,741 | ) | | | (3,584 | ) | | | (3,314 | ) | | | (18,641 | ) | | | | (3,396 | ) | | | (3,132 | ) | | | (1,447 | ) | | | 692 | | | | (7,283 | ) | | | | 1,263 | | | | 36 | | | | 1,965 | | | | 2,607 | | | | 5,871 | | | | | 585 | |
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Net income (loss) per share: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic | | $ | (0.18 | ) | | $ | (0.17 | ) | | $ | (0.11 | ) | | $ | (0.10 | ) | | $ | (0.56 | ) | | | $ | (0.10 | ) | | $ | (0.09 | ) | | $ | (0.04 | ) | | $ | 0.02 | | | $ | (0.22 | ) | | | $ | 0.04 | | | $ | 0.00 | | | $ | 0.06 | | | $ | 0.08 | | | $ | 0.18 | | | | $ | 0.02 | |
Diluted | | $ | (0.18 | ) | | $ | (0.17 | ) | | $ | (0.11 | ) | | $ | (0.10 | ) | | $ | (0.56 | ) | | | $ | (0.10 | ) | | $ | (0.09 | ) | | $ | (0.04 | ) | | $ | 0.02 | | | $ | (0.22 | ) | | | $ | 0.04 | | | $ | 0.00 | | | $ | 0.06 | | | $ | 0.08 | | | $ | 0.18 | | | | $ | 0.02 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Shares used in the computation: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic | | | 32,858 | | | | 32,983 | | | | 33,094 | | | | 33,371 | | | | 33,078 | | | | | 33,532 | | | | 33,582 | | | | 33,640 | | | | 32,692 | | | | 33,362 | | | | | 31,784 | | | | 31,677 | | | | 31,733 | | | | 31,815 | | | | 31,752 | | | | | 31,929 | |
Diluted | | | 32,858 | | | | 32,983 | | | | 33,094 | | | | 33,371 | | | | 33,078 | | | | | 33,532 | | | | 33,582 | | | | 33,640 | | | | 33,204 | | | | 33,362 | | | | | 32,249 | | | | 32,160 | | | | 32,424 | | | | 33,047 | | | | 32,336 | | | | | 33,431 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Supplemental information of stock-based compensation expense included in: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cost of software, hosting and support | | | 58 | | | | 79 | | | | 84 | | | | 67 | | | | 288 | | | | | 77 | | | | 79 | | | | 87 | | | | 80 | | | | 323 | | | | | 96 | | | | 142 | | | | 120 | | | | 102 | | | | 460 | | | | | 113 | |
Cost of professional services | | | 125 | | | | 149 | | | | 217 | | | | 156 | | | | 647 | | | | | 153 | | | | 165 | | | | 158 | | | | 162 | | | | 638 | | | | | 133 | | | | 209 | | | | 138 | | | | 132 | | | | 612 | | | | | 114 | |
Sales and marketing | | | 658 | | | | 731 | | | | 542 | | | | 333 | | | | 2,264 | | | | | 538 | | | | 595 | | | | 738 | | | | 583 | | | | 2,454 | | | | | 622 | | | | 952 | | | | 761 | | | | 694 | | | | 3,029 | | | | | 751 | |
Research and development | | | 226 | | | | 289 | | | | 166 | | | | 206 | | | | 887 | | | | | 235 | | | | 242 | | | | 252 | | | | 240 | | | | 969 | | | | | 262 | | | | 377 | | | | 285 | | | | 254 | | | | 1,178 | | | | | 257 | |
General and administrative | | | 235 | | | | 743 | | | | 199 | | | | 208 | | | | 1,385 | | | | | 263 | | | | 816 | | | | 297 | | | | 265 | | | | 1,641 | | | | | 403 | | | | 1,056 | | | | 548 | | | | 500 | | | | 2,507 | | | | | 520 | |
| | | | | | | | | | | | |
Total stock-based compensation | | | 1,302 | | | | 1,991 | | | | 1,208 | | | | 970 | | | | 5,471 | | | | | 1,266 | | | | 1,897 | | | | 1,532 | | | | 1,330 | | | | 6,025 | | | | | 1,516 | | | | 2,736 | | | | 1,852 | | | | 1,682 | | | | 7,786 | | | | | 1,755 | |
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Consolidated Statements of Cash Flow Amounts in thousands
Unaudited
Last updated April 28, 2010
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| | 2007 | | | | 2008 | | | | 2009 | | | | 2010 | |
| | Q1 | | | Q2 | | | Q3 | | | Q4 | | | FY | | | | Q1 | | | Q2 | | | Q3 | | | Q4 | | | YTD | | | | Q1 | | | Q2 | | | Q3 | | | Q4 | | | YTD | | | | Q1 | |
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Operating activities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | (6,002 | ) | | | (5,741 | ) | | | (3,584 | ) | | | (3,314 | ) | | | (18,641 | ) | | | | (3,396 | ) | | | (3,132 | ) | | | (1,447 | ) | | | 692 | | | | (7,283 | ) | | | | 1,263 | | | | 36 | | | | 1,965 | | | | 2,607 | | | | 5,871 | | | | | 585 | |
Noncash adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | 1,675 | | | | 1,880 | | | | 1,869 | | | | 1,842 | | | | 7,266 | | | | | 1,954 | | | | 1,956 | | | | 1,956 | | | | 1,905 | | | | 7,771 | | | | | 1,887 | | | | 1,726 | | | | 1,797 | | | | 2,059 | | | | 7,491 | | | | | 2,065 | |
Provision for losses on accounts receivable | | | (69 | ) | | | 13 | | | | 401 | | | | 39 | | | | 384 | | | | | 89 | | | | 26 | | | | 64 | | | | 33 | | | | 212 | | | | | 57 | | | | 30 | | | | 30 | | | | 40 | | | | 157 | | | | | 50 | |
Stock-based compensation expense | | | 1,302 | | | | 1,991 | | | | 1,208 | | | | 970 | | | | 5,471 | | | | | 1,266 | | | | 1,897 | | | | 1,532 | | | | 1,330 | | | | 6,025 | | | | | 1,516 | | | | 2,736 | | | | 1,852 | | | | 1,682 | | | | 7,786 | | | | | 1,755 | |
Changes in operating accounts: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Receivables | | | 15,427 | | | | 8,224 | | | | 6,933 | | | | (3,032 | ) | | | 27,552 | | | | | 7,447 | | | | 4,062 | | | | 1,143 | | | | (7,878 | ) | | | 4,774 | | | | | 13,569 | | | | (5,171 | ) | | | 2,333 | | | | 524 | | | | 11,255 | | | | | 2,449 | |
Prepaid and other current assets | | | (1,471 | ) | | | (1,612 | ) | | | (803 | ) | | | (1,143 | ) | | | (5,029 | ) | | | | (852 | ) | | | (804 | ) | | | (1,168 | ) | | | (900 | ) | | | (3,724 | ) | | | | 399 | | | | (583 | ) | | | (693 | ) | | | (614 | ) | | | (1,491 | ) | | | | (1,054 | ) |
Accounts payable and accrued liabilities | | | 1,748 | | | | 810 | | | | 89 | | | | 1,041 | | | | 3,688 | | | | | 2,292 | | | | (257 | ) | | | 42 | | | | (720 | ) | | | 1,357 | | | | | (1,823 | ) | | | 3,099 | | | | (1,427 | ) | | | (35 | ) | | | (186 | ) | | | | 3,556 | |
Commissions and bonuses payable | | | (1,171 | ) | | | (1 | ) | | | (47 | ) | | | 2,176 | | | | 957 | | | | | (1,523 | ) | | | 742 | | | | 166 | | | | 1,545 | | | | 930 | | | | | (2,553 | ) | | | 1,743 | | | | (132 | ) | | | 1,393 | | | | 451 | | | | | (1,243 | ) |
Deferred revenue | | | (6,056 | ) | | | (814 | ) | | | (2,143 | ) | | | 8,407 | | | | (606 | ) | | | | (3,434 | ) | | | 4,001 | | | | (3,566 | ) | | | 7,168 | | | | 4,169 | | | | | (9,429 | ) | | | (2,038 | ) | | | (569 | ) | | | (2,880 | ) | | | (14,916 | ) | | | | (4,614 | ) |
Other | | | (23 | ) | | | 13 | | | | (130 | ) | | | 132 | | | | (8 | ) | | | | (173 | ) | | | 83 | | | | (52 | ) | | | 635 | | | | 493 | | | | | — | | | | 503 | | | | (247 | ) | | | (555 | ) | | | (321 | ) | | | | (39 | ) |
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Cash provided (used) by operating activities | | | 5,360 | | | | 4,763 | | | | 3,793 | | | | 7,118 | | | | 21,034 | | | | | 3,670 | | | | 8,574 | | | | (1,330 | ) | | | 3,810 | | | | 14,724 | | | | | 4,886 | | | | 2,081 | | | | 4,909 | | | | 4,221 | | | | 16,097 | | | | | 3,510 | |
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Investing activities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Acquistion of property and equipment | | | (1,987 | ) | | | (1,351 | ) | | | (1,426 | ) | | | (2,436 | ) | | | (7,200 | ) | | | | (1,522 | ) | | | (1,536 | ) | | | (1,309 | ) | | | (1,425 | ) | | | (5,792 | ) | | | | (584 | ) | | | (1,841 | ) | | | (1,240 | ) | | | (1,910 | ) | | | (5,591 | ) | | | | (1,640 | ) |
Business acquisitions | | | — | | | | — | | | | — | | | | — | | | | — | | | | | — | | | | — | | | | — | | | | — | | | | — | | | | | — | | | | — | | | | (5,906 | ) | | | — | | | | (5,906 | ) | | | | — | |
Intangible asset additions | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (100 | ) | | | | | | | (144 | ) | | | (410 | ) | | | (654 | ) | | | | (1,034 | ) |
Change in investments, net | | | 1,549 | | | | (15,333 | ) | | | (3,912 | ) | | | 4,179 | | | | (13,517 | ) | | | | (1,970 | ) | | | 748 | | | | 2,218 | | | | 12,435 | | | | 13,431 | | | | | (2,251 | ) | | | (6,059 | ) | | | (13,081 | ) | | | 5,558 | | | | (15,833 | ) | | | | (342 | ) |
Other | | | (29 | ) | | | (32 | ) | | | 1 | | | | 17 | | | | (42 | ) | | | | — | | | | — | | | | — | | | | — | | | | — | | | | | — | | | | — | | | | — | | | | — | | | | — | | | | | — | |
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Cash provided (used) for investing activities | | | (467 | ) | | | (16,716 | ) | | | (5,337 | ) | | | 1,760 | | | | (20,759 | ) | | | | (3,492 | ) | | | (788 | ) | | | 909 | | | | 11,010 | | | | 7,639 | | | | | (2,935 | ) | | | (7,900 | ) | | | (20,371 | ) | | | 3,238 | | | | (27,968 | ) | | | | (3,016 | ) |
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Financing activities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net proceeds from (payments on) long-term debt | | | (7 | ) | | | (8 | ) | | | (10 | ) | | | (10 | ) | | | (35 | ) | | | | (11 | ) | | | (11 | ) | | | (11 | ) | | | (10 | ) | | | (43 | ) | | | | (12 | ) | | | (11 | ) | | | (12 | ) | | | (11 | ) | | | (46 | ) | | | | (12 | ) |
Proceeds from issuance of stock: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Common stock issued under employee benefit plans | | | 643 | | | | 536 | | | | 509 | | | | 1,966 | | | | 3,653 | | | | | 414 | | | | 234 | | | | 618 | | | | 130 | | | | 1,396 | | | | | 78 | | | | 151 | | | | 167 | | | | 1,352 | | | | 1,748 | | | | | 1,159 | |
Common stock repurchase (Treasury) | | | — | | | | — | | | | — | | | | — | | | | — | | | | | — | | | | — | | | | — | | | | (13,209 | ) | | | (13,209 | ) | | | | (1,798 | ) | | | — | | | | — | | | | — | | | | (1,798 | ) | | | | — | |
Other | | | 49 | | | | 160 | | | | 19 | | | | (45 | ) | | | 183 | | | | | 51 | | | | (53 | ) | | | — | | | | (133 | ) | | | (135 | ) | | | | 89 | | | | 48 | | | | 95 | | | | 9 | | | | 241 | | | | | 327 | |
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Cash provided (used) by financing activities | | | 685 | | | | 688 | | | | 518 | | | | 1,911 | | | | 3,801 | | | | | 454 | | | | 170 | | | | 607 | | | | (13,222 | ) | | | (11,991 | ) | | | | (1,643 | ) | | | 188 | | | | 250 | | | | 1,350 | | | | 145 | | | | | 1,474 | |
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Effect of foreign exchange rates | | | 113 | | | | 208 | | | | 293 | | | | (217 | ) | | | 397 | | | | | 278 | | | | 234 | | | | (1,822 | ) | | | (1,338 | ) | | | (2,648 | ) | | | | (251 | ) | | | 1,156 | | | | 613 | | | | 349 | | | | 1,867 | | | | | (400 | ) |
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Net change in cash and cash equivalents | | | 5,691 | | | | (11,057 | ) | | | (733 | ) | | | 10,572 | | | | 4,473 | | | | | 910 | | | | 8,190 | | | | (1,636 | ) | | | 260 | | | | 7,724 | | | | | 57 | | | | (4,475 | ) | | | (14,599 | ) | | | 9,158 | | | | (9,859 | ) | | | | 1,568 | |
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Cash and cash equivalents at beginning of period | | | 39,208 | | | | 44,899 | | | | 33,842 | | | | 33,109 | | | | 39,208 | | | | | 43,681 | | | | 44,591 | | | | 52,781 | | | | 51,145 | | | | 43,681 | | | | | 51,405 | | | | 51,462 | | | | 46,987 | | | | 32,388 | | | | 51,405 | | | | | 41,546 | |
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Cash and cash equivalents at end of period | | | 44,899 | | | | 33,842 | | | | 33,109 | | | | 43,681 | | | | 43,681 | | | | | 44,591 | | | | 52,781 | | | | 51,145 | | | | 51,405 | | | | 51,405 | | | | | 51,462 | | | | 46,987 | | | | 32,388 | | | | 41,546 | | | | 41,546 | | | | | 43,114 | |
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Currency Component Data Sheet
Unaudited
As of April 28, 2010
| | | | | | | | | | | | |
| | Currency | | | | | Impact of 1 percent |
| | Component of Total | | Currency exchange | | change in fx |
| | Revenue-TTM as of | | rate into USD as of | | exchange rate per |
| | March 31, 2010 | | April 28, 2010 | | 100M in revenue |
GBP | | | 10 | % | | | 1.5191 | | | | 151,910 | |
EUR | | | 6 | % | | | 1.3201 | | | | 79,206 | |
AUD | | | 6 | % | | | 0.9248 | | | | 55,488 | |
USD and other | | | 78 | % | | | n/a | | | | | |
| | | | | | | | | | | | |
Total | | | 100 | % | | | | | | | 286,604 | |
| | | | | | | | | | | | |
| | Currency | | | | | Impact of 1 percent |
| | Component of Total | | Currency exchange | | change in fx |
| | Expense-TTM as of | | rate into USD as of | | exchange rate per |
| | March 31, 2010 | | April 28, 2010 | | 100M in revenue |
GBP | | | 12 | % | | | 1.5191 | | | | 182,292 | |
EUR | | | 1 | % | | | 1.3201 | | | | 13,201 | |
AUD | | | 4 | % | | | 0.9248 | | | | 36,992 | |
USD and other | | | 83 | % | | | n/a | | | | | |
| | | | | | | | | | | | |
Total | | | 100 | % | | | | | | | 232,485 | |
TTM=Trailing Twelve Months