Exhibit 99.2
WebMD Health Corp.
Supplemental Non-GAAP Financial Information of the Registrant
For the Quarters ended March 31, 2008, June 30, 2008, September 30, 2008 and December 31,
2008 and for the Year ended December 31, 2008
(in thousands)
| | | | | | | | | | | | | | | | | | | | |
| | For the quarter ended, | | | For the year ended | |
| | March 31, 2008 | | | June 30, 2008 | | | September 30, 2008 | | | December 31, 2008 | | | December 31, 2008 | |
| | | | | | | | | | | | | | | | | | | | |
Revenue: | | | | | | | | | | | | | | | | | | | | |
Advertising and sponsorship | | $ | 56,482 | | | $ | 62,728 | | | $ | 72,438 | | | $ | 85,576 | | | $ | 277,224 | |
Licensing | | | 21,923 | | | | 21,866 | | | | 22,139 | | | | 23,198 | | | | 89,126 | |
Print | | | 2,245 | | | | 1,410 | | | | 2,220 | | | | 1,317 | | | | 7,192 | |
| | | | | | | | | | | | | | | |
| | $ | 80,650 | | | $ | 86,004 | | | $ | 96,797 | | | $ | 110,091 | | | $ | 373,542 | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Earnings before interest, taxes, non-cash and other items (“Adjusted EBITDA”) (a) | | $ | 16,332 | | | $ | 18,392 | | | $ | 25,467 | | | $ | 33,909 | | | $ | 94,100 | |
| | | | | | | | | | | | | | | | | | | | |
Interest, taxes, non-cash and other items (b) | | | | | | | | | | | | | | | | | | | | |
Interest income | | | 3,453 | | | | 2,350 | | | | 2,616 | | | | 2,033 | | | | 10,452 | |
Depreciation and amoritization | | | (6,672 | ) | | | (7,087 | ) | | | (7,056 | ) | | | (7,106 | ) | | | (27,921 | ) |
Non-cash advertising | | | (1,558 | ) | | | — | | | | (178 | ) | | | (3,361 | ) | | | (5,097 | ) |
Non-cash stock-based compensation | | | (3,680 | ) | | | (3,465 | ) | | | (3,512 | ) | | | (2,657 | ) | | | (13,314 | ) |
Impairment of auction rate securities | | | (27,406 | ) | | | — | | | | — | | | | — | | | | (27,406 | ) |
Restructuring | | | — | | | | — | | | | — | | | | (2,910 | ) | | | (2,910 | ) |
Income tax (provision) benefit | | | (3,432 | ) | | | (4,501 | ) | | | (7,375 | ) | | | 13,097 | | | | (2,211 | ) |
| | | | | | | | | | | | | | | |
Income (loss) from continuing operations | | | (22,963 | ) | | | 5,689 | | | | 9,962 | | | | 33,005 | | | | 25,693 | |
Income (loss) from discontinued operations | | | (372 | ) | | | 663 | | | | 804 | | | | (86 | ) | | | 1,009 | |
| | | | | | | | | | | | | | | |
Net income (loss) | | $ | (23,335 | ) | | $ | 6,352 | | | $ | 10,766 | | | $ | 32,919 | | | $ | 26,702 | |
| | | | | | | | | | | | | | | |
| | |
(a) | | See Annex A — Explanation of Non-GAAP Financial Measures |
|
(b) | | Reconciliation of Non-GAAP measure to net income (loss) |