Exhibit 99.1
Amber Road Announces Third Quarter 2017 Financial Results
EAST RUTHERFORD, N.J.--(BUSINESS WIRE)--November 2, 2017--Amber Road, Inc. (NYSE:AMBR), a leading provider of global trade management (GTM) solutions, today announced its financial results for the third quarter ended September 30, 2017.
Jim Preuninger, Chief Executive Officer of Amber Road, stated, “I am particularly pleased that we generated positive Adjusted EBITDA as we set the Company on a path towards sustainable and growing profitability and cash flow. We continue to benefit from the investments we have made to expand our presence into new geographies and markets, extending our competitive differentiation through product innovation while maintaining a strong focus on cost controls to improve profitability. We enter the seasonally strong fourth quarter with a solid pipeline of opportunities and good visibility into these opportunities.”
Third Quarter 2017 Financial Highlights
Revenue
- Total revenue was $20.2 million, an increase compared to $18.9 million for the comparable period of 2016.
- Subscription revenue was $14.9 million, an increase compared to $14.1 million for the comparable period of 2016.
- Professional services revenue was $5.3 million, an increase compared to $4.8 million for the comparable period of 2016.
Operating Loss
- GAAP operating loss was $(1.8) million, compared to $(3.5) million for the comparable period of 2016.
- Non-GAAP adjusted operating loss(1) was $(11,862), compared to $(1.7) million for the comparable period of 2016.
Net Loss
- GAAP net loss was $(2.2) million, compared to $(3.8) million for the comparable period of 2016.
- GAAP basic and diluted net loss per common share was $(0.08), compared to $(0.14) for the comparable period of 2016, based on 27.5 million and 26.8 million basic and diluted weighted average common shares outstanding, respectively.
- Non-GAAP adjusted net loss(1) was $(0.4) million, compared to $(2.0) million for the comparable period of 2016.
- Non-GAAP adjusted net loss per common share was $(0.02), compared to $(0.08) for the comparable period of 2016, based on 27.5 million and 26.8 million basic and diluted weighted average common shares outstanding, respectively.
Adjusted EBITDA
- Adjusted EBITDA was $1.0 million for the three months ended September 30, 2017 and $16,140 for the comparable period of 2016.
Balance Sheet and Cash Flow
- Cash and cash equivalents at September 30, 2017 totaled $8.3 million, compared to $15.4 million at December 31, 2016.
- Cash used in operating activities was $(2.8) million for the nine months ended September 30, 2017, compared to cash used in operating activities of $(38,854) for the nine months ended September 30, 2016.
A reconciliation of GAAP operating loss and net loss to Non-GAAP adjusted operating loss and net loss, of GAAP net loss to Adjusted EBITDA and of GAAP total revenue to Non-GAAP total revenue has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”
Third Quarter 2017 Business Highlights
- Announced that GEODIS, part of SCNF Logistics, has chosen the Amber Road Export On-Demand solution to screen third-party trade partners to ensure compliance with global sanctions and embargo lists. Using the Restricted Party Screening module in Amber Road’s Export On-Demand solution, GEODIS will be able to transform its screening processes, replacing numerous disparate and partial systems with a single system covering its worldwide operations.
- Announced that its software platform has expanded support for the new import filing requirements under the United States Automated Commercial Environment (ACE) Single Window for Partner Government Agencies (PGAs). US Customs and Border Protection is leveraging the ACE system to implement the concept of the Single Window with all PGAs.
Business Outlook
Based on information available as of November 2, 2017, Amber Road is issuing guidance for the fourth quarter and full year 2017. Refer to the reconciliation of GAAP guidance to non-GAAP guidance tables at the end of this release for details on non-GAAP adjustments.
Fourth Quarter 2017:
- Total revenue is expected to be in the range of $20.0 million to $20.6 million.
- Non-GAAP adjusted operating loss(1) is expected to be in the range of $(1.2) million to $(0.6) million.
- Non-GAAP adjusted net loss per common share is expected to be in the range of $(0.07) to $(0.04). This assumes 28.0 million basic and diluted shares outstanding.
Full Year 2017:
- Total revenue is expected to be in the range of $78.4 million to $79.0 million.
- Non-GAAP adjusted operating loss(1) is expected to be in the range of $(6.4) million to $(5.8) million.
- Non-GAAP adjusted net loss per common share is expected to be in the range of $(0.31) to $(0.29). This assumes 28.0 million basic and diluted shares outstanding.
Endnotes:
| (1) | | For 2017, non-GAAP adjusted operating loss and adjusted net loss excludes stock-based compensation and change in fair value of contingent consideration liability. For 2016, non-GAAP adjusted operating loss and adjusted net loss excludes stock-based compensation, change in fair value of contingent consideration liability, purchase accounting deferred revenue adjustment, acquisition compensation costs and acquisition related costs. |
Conference Call Information
Amber Road will host a conference call on Thursday, November 2, 2017 at 5:00 p.m. Eastern Time (ET) to discuss the Company’s third quarter financial results and its business outlook. To access this call, dial (800)-289-0548 (domestic) or (719) 457-2615 (international). The conference ID is 2296616. Additionally, a live webcast of the conference call will be available in the “Investor Relations” section of the Company’s web site at www.AmberRoad.com.
Following the conference call, a replay will be available until November 9, 2017 at (844)-512-2921 (domestic) or (412)-317-6671 (international). The replay pass code is 2296616. An archived webcast of this conference call will also be available in the “Investor Relations” section of the Company’s web site at www.AmberRoad.com.
About Amber Road
Amber Road’s (NYSE: AMBR) mission is to dramatically transform the way companies conduct global trade. As a leading provider of cloud-based global trade management (GTM) software, trade content and training, we help companies all over the world create value through their global supply chain by improving margins, achieving greater agility and lowering risk. We do this by creating a digital model of the global supply chain that enables collaboration between buyers, sellers and logistics companies. We replace manual and outdated processes with comprehensive automation for global trade activities, including sourcing, supplier management, production tracking, transportation management, supply chain visibility, import and export compliance, and duty management. We provide rich data analytics to uncover areas for optimization and deliver a platform that is responsive and flexible to adapt to the ever-changing nature of global trade.
Non-GAAP Financial Measures
To provide investors with additional information regarding our financial results, Amber Road has provided non-GAAP financial measures and non-GAAP guidance within this press release including non-GAAP adjusted operating and net loss and adjusted EBITDA, financial measures that are not calculated in accordance with generally accepted accounting principles, or GAAP. Provided below is a reconciliation of GAAP operating and net loss to non-GAAP adjusted operating and net loss, and net loss to adjusted EBITDA. EBITDA consists of net loss plus depreciation and amortization, interest expense (income) and income tax expense. Adjusted EBITDA consists of EBITDA plus stock-based compensation, changes in the fair value of contingent consideration liability, purchase accounting adjustment to deferred revenue, acquisition compensation costs and acquisition related costs. Amber Road has included these non-GAAP measures in this press release because it assists in comparing performance on a consistent basis across reporting periods, as it removes from operating results the impact of the Company’s capital structure. Amber Road believes these non-GAAP measures are useful to an investor in evaluating its operating performance because they are often used by the financial community to measure a company’s operating performance without regard to items such as depreciation and amortization, which can vary depending upon accounting methods and the book value of assets, and to present a meaningful measure of performance exclusive of its capital structure and the method by which assets were acquired.
Amber Road’s use of these non-GAAP measures has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of its results as reported under GAAP. Some of these limitations are:
- although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and these non-GAAP measures do not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements;
- these non-GAAP measures do not reflect changes in, or cash requirements for, working capital needs;
- these non-GAAP measures do not reflect the potentially dilutive impact of equity-based compensation;
- these non-GAAP measures do not reflect interest or tax payments that may represent a reduction in cash available; and
- other companies, including companies in Amber Road’s industry, may calculate adjusted EBITDA differently, which reduces its usefulness as a comparative measure.
Because of these and other limitations, you should consider these non-GAAP measures together with other GAAP-based financial performance measures, including various cash flow metrics, net loss and other GAAP results. A reconciliation of GAAP operating and net loss to non-GAAP adjusted operating and net loss, and adjusted EBITDA has been provided in the financial statement tables included in this press release.
Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts, but instead represent only our current expectations and beliefs, and therefore, contain risks and uncertainties about future events or our future financial performance, including, but not limited to, achieving revenue from bookings, closing business from the sales pipeline, new customer deployments and maintaining these relationships, the ability to reduce operating losses and use of cash, and attaining profitability. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” and similar expressions, whether in the negative or affirmative. These statements are only predictions and may be inaccurate. Actual events or results may differ materially. In evaluating these statements, you should specifically consider various factors, including the risks outlined in our filings with the Securities and Exchange Commission (SEC), including, without limitation, our annual, periodic and current SEC reports. These factors may cause our actual results to differ materially from any forward-looking statement. Although we believe that the expectations reflected in the forward-looking statements are reasonable, our future results, levels of activity, performance or achievements may differ from our expectations. Other than as required by law, we do not undertake to update any of the forward-looking statements after the date of this press release, even though our situation may change in the future.
| |
| AMBER ROAD, INC. AND SUBSIDIARIES |
| Condensed Consolidated Balance Sheet |
| (Unaudited) |
| | | | |
| | September 30,
2017 | | December 31,
2016 |
| Assets | | | | |
| Current assets: | | | | |
| Cash and cash equivalents | | $ | 8,282,234 | | | $ | 15,408,133 | |
| Accounts receivable, net | | 15,465,557 | | | 19,661,156 | |
| Unbilled receivables | | 992,875 | | | 314,328 | |
| Deferred commissions | | 4,396,974 | | | 4,420,632 | |
| Prepaid expenses and other current assets | | 1,926,004 | | | 1,719,612 | |
| Total current assets | | 31,063,644 | | | 41,523,861 | |
| Property and equipment, net | | 9,894,886 | | | 9,978,255 | |
| Goodwill | | 43,777,158 | | | 43,907,017 | |
| Other intangibles, net | | 5,263,149 | | | 6,148,820 | |
| Deferred commissions | | 7,013,656 | | | 8,046,664 | |
| Deposits and other assets | | 1,154,004 | | | 884,471 | |
| Total assets | | $ | 98,166,497 | | | $ | 110,489,088 | |
| Liabilities and Stockholders’ Equity | | | | |
| Current liabilities: | | | | |
| Accounts payable | | $ | 1,860,562 | | | $ | 2,724,591 | |
| Accrued expenses | | 9,365,484 | | | 14,127,304 | |
| Current portion of capital lease obligations | | 1,270,056 | | | 1,155,964 | |
| Deferred revenue | | 35,199,938 | | | 34,464,264 | |
| Current portion of term loan, net of discount | | 714,391 | | | 593,336 | |
| Total current liabilities | | 48,410,431 | | | 53,065,459 | |
| Capital lease obligations, less current portion | | 1,564,396 | | | 1,276,700 | |
| Deferred revenue, less current portion | | 1,887,526 | | | 2,135,620 | |
| Term loan, net of discount, less current portion | | 13,017,989 | | | 13,614,514 | |
| Revolving credit facility | | 6,100,000 | | | 6,000,000 | |
| Other noncurrent liabilities | | 1,560,533 | | | 1,825,317 | |
| Total liabilities | | 72,540,875 | | | 77,917,610 | |
| Stockholders’ equity: | | | | |
Common stock, $0.001 par value; 100,000,000 shares authorized; issued and outstanding 27,209,232 and
26,926,268 shares at September 30, 2017 and December 31, 2016, respectively | | 27,209 | | | 26,926 | |
| Additional paid-in capital | | 193,265,714 | | | 188,811,896 | |
| Accumulated other comprehensive loss | | (1,568,375 | ) | | (1,336,792 | ) |
| Accumulated deficit | | (166,098,926 | ) | | (154,930,552 | ) |
| Total stockholders’ equity | | 25,625,622 | | | 32,571,478 | |
| Total liabilities and stockholders’ equity | | $ | 98,166,497 | | | $ | 110,489,088 | |
| | | | | | | | |
| |
AMBER ROAD, INC. AND SUBSIDIARIES |
Condensed Consolidated Statement of Operations |
(Unaudited) |
| |
| | Three Months Ended
September 30, | | Nine Months Ended
September 30, |
| | 2017 | | 2016 | | 2017 | | 2016 |
| Revenue: | | | | | | | | |
| Subscription | | $ | 14,944,160 | | | $ | 14,079,394 | | | $ | 43,532,217 | | | $ | 39,358,586 | |
| Professional services | | 5,269,090 | | | 4,771,407 | | | 14,910,883 | | | 14,595,827 | |
| Total revenue | | 20,213,250 | | | 18,850,801 | | | 58,443,100 | | | 53,954,413 | |
| Cost of revenue (1): | | | | | | | | |
| Cost of subscription revenue | | 4,903,483 | | | 4,964,971 | | | 16,066,645 | | | 14,988,695 | |
| Cost of professional services revenue | | 4,247,519 | | | 3,845,548 | | | 12,396,228 | | | 11,872,116 | |
| Total cost of revenue | | 9,151,002 | | | 8,810,519 | | | 28,462,873 | | | 26,860,811 | |
| Gross profit | | 11,062,248 | | | 10,040,282 | | | 29,980,227 | | | 27,093,602 | |
| Operating expenses (1): | | | | | | | | |
| Sales and marketing | | 5,551,239 | | | 5,488,309 | | | 17,043,562 | | | 16,968,999 | |
| Research and development | | 3,830,431 | | | 4,231,492 | | | 11,201,577 | | | 12,119,137 | |
| General and administrative | | 3,517,187 | | | 3,782,591 | | | 11,247,825 | | | 11,329,134 | |
| Total operating expenses | | 12,898,857 | | | 13,502,392 | | | 39,492,964 | | | 40,417,270 | |
| Loss from operations | | (1,836,609 | ) | | (3,462,110 | ) | | (9,512,737 | ) | | (13,323,668 | ) |
| Interest income | | 1,238 | | | 4,810 | | | 2,564 | | | 55,858 | |
| Interest expense | | (272,293 | ) | | (221,370 | ) | | (751,644 | ) | | (643,543 | ) |
| Loss before income taxes | | (2,107,664 | ) | | (3,678,670 | ) | | (10,261,817 | ) | | (13,911,353 | ) |
| Income tax expense | | 130,039 | | | 112,580 | | | 906,557 | | | 306,465 | |
| Net loss | | $ | (2,237,703 | ) | | $ | (3,791,250 | ) | | $ | (11,168,374 | ) | | $ | (14,217,818 | ) |
| | | | | | | | |
| Net loss per common share: | | | | | | | | |
| Basic and diluted | | $ | (0.08 | ) | | $ | (0.14 | ) | | $ | (0.41 | ) | | $ | (0.53 | ) |
| Weighted-average common shares outstanding: | | | | | | | | |
| Basic and diluted | | 27,471,248 | | | 26,809,137 | | | 27,377,058 | | | 26,609,322 | |
| | | | | | | | | | | | |
________________________________________________________________________
| |
| (1) Includes stock-based compensation as follows: |
| |
| | Three Months Ended
September 30, | | Nine Months Ended
September 30, |
| | 2017 | | 2016 | | 2017 | | 2016 |
| Cost of subscription revenue | | $ | 214,033 | | | $ | 219,120 | | | $ | 591,965 | | | $ | 638,069 |
| Cost of professional services revenue | | 153,357 | | | 128,254 | | | 405,129 | | | 377,467 |
| Sales and marketing | | 321,226 | | | 238,324 | | | 780,626 | | | 675,057 |
| Research and development | | 401,567 | | | 304,501 | | | 987,427 | | | 847,057 |
| General and administrative | | 734,564 | | | 564,626 | | | 1,513,898 | | | 1,669,410 |
| | $ | 1,824,747 | | | $ | 1,454,825 | | | $ | 4,279,045 | | | $ | 4,207,060 |
| | | | | | | | | | | | | | | |
| |
| AMBER ROAD, INC. AND SUBSIDIARIES |
| Condensed Consolidated Statement of Cash Flows |
| (Unaudited) |
| |
| | Nine Months Ended
September 30, |
| | 2017 | | 2016 |
| Cash flows from operating activities: | | | | |
| Net loss | | $ | (11,168,374 | ) | | $ | (14,217,818 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | |
| Depreciation and amortization | | 4,015,240 | | | 5,063,509 | |
| Bad debt expense | | 305,612 | | | 523,403 | |
| Stock-based compensation | | 4,279,045 | | | 4,207,060 | |
| Acquisition related deferred compensation | | — | | | 851,931 | |
| Changes in fair value of contingent consideration liability | | 18,525 | | | 10,469 | |
| Accretion of debt discount | | 28,981 | | | 47,186 | |
| Changes in operating assets and liabilities: | | | | |
| Accounts receivable and unbilled receivables | | 3,239,595 | | | 5,352,339 | |
| Prepaid expenses and other assets | | 823,889 | | | (2,074,943 | ) |
| Accounts payable | | (967,975 | ) | | (418,732 | ) |
| Accrued expenses | | (1,172,824 | ) | | 2,669,696 | |
| Settlement of contingent accrued compensation related to former ecVision founder | | (2,366,469 | ) | | — | |
| Other liabilities | | (264,429 | ) | | (2,025,820 | ) |
| Deferred revenue | | 477,278 | | | (27,134 | ) |
| Net cash used in operating activities | | (2,751,906 | ) | | (38,854 | ) |
| Cash flows from investing activities: | | | | |
| Capital expenditures | | (169,739 | ) | | (220,718 | ) |
| Addition of capitalized software development costs | | (1,217,126 | ) | | (1,859,969 | ) |
| Addition of intangible assets | | — | | | (275,000 | ) |
| Cash paid for deposits | | (205,264 | ) | | (143,836 | ) |
| Decrease (increase) in restricted cash | | (259 | ) | | 113,094 | |
| Net cash used in investing activities | | (1,592,388 | ) | | (2,386,429 | ) |
| Cash flows from financing activities: | | | | |
| Proceeds from revolving line of credit | | 18,350,000 | | | 14,250,000 | |
| Payments on revolving line of credit | | (18,250,000 | ) | | (13,750,000 | ) |
| Payments on term loan | | (468,750 | ) | | (281,250 | ) |
| Debt financing costs | | (35,701 | ) | | — | |
| Repayments on capital lease obligations | | (1,237,031 | ) | | (1,052,029 | ) |
| Proceeds from the exercise of stock options | | 175,056 | | | 1,467,749 | |
| Contingent consideration related to ecVision acquisition | | (1,308,525 | ) | | — | |
| Net cash provided by (used in) financing activities | | (2,774,951 | ) | | 634,470 | |
| Effect of exchange rate on cash and cash equivalents | | (6,654 | ) | | (423,250 | ) |
| Net decrease in cash and cash equivalents | | (7,125,899 | ) | | (2,214,063 | ) |
| Cash and cash equivalents at beginning of period | | 15,408,133 | | | 17,854,523 | |
| Cash and cash equivalents at end of period | | $ | 8,282,234 | | | $ | 15,640,460 | |
| | | | |
| Supplemental disclosures of cash flow information: | | | | |
| Cash paid for interest | | $ | 717,057 | | | $ | 564,401 | |
| Non-cash property and equipment acquired under capital lease | | 1,638,819 | | | 246,286 | |
| Non-cash property and equipment purchases in accounts payable | | 46,545 | | | — | |
| | | | | | |
| |
| Reconciliation of Net Loss to Adjusted EBITDA |
| (Unaudited) |
| |
| | Three Months Ended
September 30, | | Nine Months Ended
September 30, |
| | 2017 | | 2016 | | 2017 | | 2016 |
| Net loss | | $ | (2,237,703 | ) | | $ | (3,791,250 | ) | | $ | (11,168,374 | ) | | $ | (14,217,818 | ) |
| Depreciation and amortization expense | | 1,007,083 | | | 1,729,448 | | | 4,015,240 | | | 5,063,509 | |
| Interest expense | | 272,293 | | | 221,370 | | | 751,644 | | | 643,543 | |
| Interest income | | (1,238 | ) | | (4,810 | ) | | (2,564 | ) | | (55,858 | ) |
| Income tax expense | | 130,039 | | | 112,580 | | | 906,557 | | | 306,465 | |
| EBITDA | | (829,526 | ) | | (1,732,662 | ) | | (5,497,497 | ) | | (8,260,159 | ) |
| Stock-based compensation | | 1,824,747 | | | 1,454,825 | | | 4,279,045 | | | 4,207,060 | |
| Change in fair value of contingent consideration liability | | — | | | 10,000 | | | 18,525 | | | 10,469 | |
| Purchase accounting deferred revenue adjustment | | — | | | — | | | — | | | 69,095 | |
| Acquisition compensation costs | | — | | | 283,977 | | | — | | | 851,931 | |
| Acquisition related costs | | — | | | — | | | — | | | 5,420 | |
| Adjusted EBITDA | | $ | 995,221 | | | $ | 16,140 | | | $ | (1,199,927 | ) | | $ | (3,116,184 | ) |
| | | | | | | | | | | | | | | | |
| |
| Reconciliation of Net Loss to Non-GAAP Adjusted Net Loss |
| (Unaudited) |
| |
| | Three Months Ended
September 30, | | Nine Months Ended
September 30, |
| | 2017 | | 2016 | | 2017 | | 2016 |
| Net loss | | $ | (2,237,703 | ) | | $ | (3,791,250 | ) | | $ | (11,168,374 | ) | | $ | (14,217,818 | ) |
| Stock-based compensation | | 1,824,747 | | | 1,454,825 | | | 4,279,045 | | | 4,207,060 | |
| Change in fair value of contingent consideration liability | | — | | | 10,000 | | | 18,525 | | | 10,469 | |
| Purchase accounting deferred revenue adjustment | | — | | | — | | | — | | | 69,095 | |
| Acquisition compensation costs | | — | | | 283,977 | | | — | | | 851,931 | |
| Acquisition related costs | | — | | | — | | | — | | | 5,420 | |
| Non-GAAP adjusted net loss | | $ | (412,956 | ) | | $ | (2,042,448 | ) | | $ | (6,870,804 | ) | | $ | (9,073,843 | ) |
| | | | | | | | |
| Adjusted non-GAAP net loss per common share: | | | | | | | | |
| Basic and diluted | | $ | (0.02 | ) | | $ | (0.08 | ) | | $ | (0.25 | ) | | $ | (0.34 | ) |
| | | | | | | | |
| Weighted-average common shares outstanding: | | | | | | | | |
| GAAP weighted average number of common shares outstanding - basic and diluted | | 27,471,248 | | | 26,809,137 | | | 27,377,058 | | | 26,609,322 | |
| | | | | | | | | | | | |
| |
| Reconciliation of Loss from Operations to Non-GAAP Adjusted Loss from Operations |
| (Unaudited) |
| |
| | Three Months Ended
September 30, | | Nine Months Ended
September 30, |
| | 2017 | | 2016 | | 2017 | | 2016 |
| Loss from operations | | $ | (1,836,609 | ) | | $ | (3,462,110 | ) | | $ | (9,512,737 | ) | | $ | (13,323,668 | ) |
| Stock-based compensation | | 1,824,747 | | | 1,454,825 | | | 4,279,045 | | | 4,207,060 | |
| Change in fair value of contingent consideration liability | | — | | | 10,000 | | | 18,525 | | | 10,469 | |
| Purchase accounting deferred revenue adjustment | | — | | | — | | | — | | | 69,095 | |
| Acquisition compensation costs | | — | | | 283,977 | | | — | | | 851,931 | |
| Acquisition related costs | | — | | | — | | | — | | | 5,420 | |
| Non-GAAP adjusted loss from operations | | $ | (11,862 | ) | | $ | (1,713,308 | ) | | $ | (5,215,167 | ) | | $ | (8,179,693 | ) |
| | | | | | | | | | | | | | | | |
Based on information available as of November 2, 2017, the following tables show 2017 GAAP guidance reconciled to non-GAAP guidance for the fourth quarter and full year 2017 as indicated below (numbers in millions, except per share data):
| |
| Reconciliation of Loss from Operations to Non-GAAP Adjusted Loss from Operations Guidance |
| (Unaudited) |
| |
| | Fourth Quarter 2017 | | Full Year 2017 |
| | Low | | High | | Low | | High |
| Loss from operations | | $ | (2.6 | ) | | $ | (2.0 | ) | | $ | (12.1 | ) | | $ | (11.5 | ) |
| Stock-based compensation | | 1.4 | | | 1.4 | | | 5.7 | | | 5.7 | |
| Non-GAAP adjusted loss from operations | | $ | (1.2 | ) | | $ | (0.6 | ) | | $ | (6.4 | ) | | $ | (5.8 | ) |
| | | | | | | | | | | | | | | | |
| |
| Reconciliation of Net Loss per Share to Non-GAAP Adjusted Net Loss per Share Guidance ((1)) |
| (Unaudited) |
| |
| | Fourth Quarter 2017 | | Full Year 2017 |
| | Low | | High | | Low | | High |
| Net loss per share, basic and diluted | | $ | (0.12 | ) | | $ | (0.09 | ) | | $ | (0.51 | ) | | $ | (0.49 | ) |
| Stock-based compensation | | 0.05 | | | 0.05 | | | 0.20 | | | 0.20 | |
| Non-GAAP adjusted net loss per share, basic and diluted | | $ | (0.07 | ) | | $ | (0.04 | ) | | $ | (0.31 | ) | | $ | (0.29 | ) |
| | | | | | | | |
| (1) This assumes weighted average shares outstanding - basic and diluted | | 28.0 | | | 28.0 | | | 28.0 | | | 28.0 | |
CONTACT:
Investor Relations
ICR
Staci Mortenson, 201-806-3663
InvestorRelations@AmberRoad.com
or
Amber Road
Annika Helmrich (US & Canada)
+1 201 806 3656
AnnikaHelmrich@AmberRoad.com
or
Martijn van Gils (Europe & Asia)
+31 858769534
MartijnvanGils@AmberRoad.com
