Trulia (TRLA) 8-K Condensed Consolidated Statements of Operations

Exhibit 99.1

TRULIA, INC.

Condensed Consolidated Statements of Operations

(In thousands, except share and per share data)

(Unaudited)

	Three Months Ended Sept 30,						Nine Months Ended Sept 30,
	2013			2012			2013			2012
Revenues		40,283		$	18,544			93,998		$	47,531
Costs and expenses:
Cost of revenues (exclusive of amortization of product development cost)		6,069			2,615			13,694			7,308
Technology and development		10,058			5,235			21,484			15,140
Sales and marketing		20,189			8,441			45,785			23,638
General and administrative		9,826			3,631			20,568			9,656
Acquisition related costs		4,060			—			6,065			—
Total costs and expenses		50,202			19,922			107,596			55,742
Loss from operations		(9,919	)		(1,378	)		(13,598	)		(8,211	)
Interest income		33			3			112			10
Interest expense		(203	)		(268	)		(655	)		(759	)
Change in fair value of warrant liability		—			(46	)		—			(369	)
Loss before provision for income taxes		(10,089	)		(1,689	)		(14,141	)		(9,329	)
Income tax benefit		7,869			—			7,529			—
Net loss attributable to common stockholders	$	(2,220	)	$	(1,689	)	$	(6,612	)	$	(9,329	)
Net loss per share attributable to common stockholders, basic and diluted	$	(0.06	)	$	(0.19	)	$	(0.21	)	$	(1.23	)
Weighted average shares used in computing net loss per share attributable to common stockholders, basic and diluted		34,557,842			8,805,722			31,734,356			7,572,902
Reconciliation to adjusted net income (loss) and adjusted net income (loss) per share attributable to common stockholders, basic and diluted, adjusted for stock-based compensation and acquisition related costs:
Net loss attributable to common stockholders		(2,220	)		(1,689	)		(6,612	)		(9,329	)
Stock-based compensation (Note A)		7,290			793			10,668			1,809
Acquisition related costs		4,060			—			6,065			—
Adjusted net income (loss) per share attributable to common stockholders	$	9,130		$	(896	)	$	10,121		$	(7,520	)
Adjusted net income (loss) per share attributable to common stockholders, basic		0.26			(0.10	)		0.32			(0.99	)
Adjusted net income (loss) per share attributable to common stockholders, diluted		0.24			(0.10	)		0.30			(0.99	)
Weighted average shares used in computing net income/(loss) per share attributable to common stockholders, diluted		37,427,935			8,805,722			34,297,275			7,572,902
Reconciliation to Adjusted EBITDA:
Net loss attributable to common stockholders	$	(2,220	)	$	(1,689	)	$	(6,612	)	$	(9,329	)
Non-GAAP adjustments:
Interest income		(33	)		(3	)		(112	)		(10	)
Interest expense		203			268			655			759
Depreciation and amortization		3,380			886			6,288			2,472
Change in fair value of warrant liability		—			46			—			369
Income taxes		(7,869	)		—			(7,529	)		—
Stock-based compensation (Note A)		7,290			793			10,668			1,809
Acquisition related costs		4,060			—			6,065			—
Adjusted EBITDA	$	4,811		$	301		$	9,423		$	(3,930	)
Reconciliaton to pro forma net loss and Adjusted EBITDA, assuming a full quarter contribution from Market Leader:
Net loss attributable to common stockholders	$	(2,220	)
Market Leader net loss in Q3’13 pre-acquisition period		(8,948	)
Additional pro forma amortization		(1,655	)
Additional pro forma stock-based compensation		(1,780	)
Pro forma net loss	$	(14,603	)
Reconciliation to Adjusted EBITDA:
Non-GAAP adjustments:
Interest income		(35	)
Interest expense		203
Depreciation and amortization		2,089
Change in fair value of warrant liability		3,814
Income taxes		(7,869	)
Stock-based compensation (Note A)		11,486
Acquisition related costs		10,623
Adjusted EBITDA	$	5,708

Note (A)

Stock -based compensation was allocated as follows:

	Three Months Ended Sept 30,				Nine Months Ended Sept 30,
	2013		2012		2013		2012
Cost of revenues	$	200	$	6	$	298	$	20
Technology and development		2,039		253		3,028		629
Sales and marketing		1,526		97		2,348		276
General and administrative		3,525		437		4,994		884
Total stock-based compensation	$	7,290	$	793	$	10,668	$	1,809

TRULIA, INC.

Condensed Balance Sheets

(In thousands)

(Unaudited)

	Sept 30, 2013		December 31, 2012
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	43,417	$	100,017
Accounts receivable		13,679		6,095
Prepaid expenses and other current assets		5,853		1,413
Total current assets		62,949		107,525
Restricted cash		1,885		385
Property and equipment, net		12,524		7,069
Intangible assets, net		121,699		445
Goodwill		255,904		2,155
Other assets		622		1,385
TOTAL ASSETS	$	455,583	$	118,964
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	$	1,954		525
Accrued liabilities		10,061		2,916
Accrued compensation and benefits		10,001		4,500
Deferred revenue		12,089		13,296
Long-term debt, current portion		3,748		2,665
Other current liabilities		601		991
Total current liabilities		38,454		24,893
Long-term debt, net of current portion		4,269		7,094
Other long-term liabilities		1,551		443
Total liabilities		44,274		32,430
Total stockholders’ equity		411,309		86,534
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	455,583	$	118,964

TRULIA, INC.

Statements of Cash Flows

(In thousands)

(Unaudited)

	Nine Months Ended September 30,
	2013			2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(6,612	)	$	(9,329	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		6,288			2,472
Stock-based compensation		10,551			1,809
Provision for doubtful accounts		325			53
Change in fair value of warrant liability		—			369
Increase in stock appreciation rights liability		117			—
Release of valuation allowance		(7,923	)		—
Amortization of debt discount		105			131
Amortization of debt issue cost		21			23
Changes in operating assets and liabilities:
Accounts receivable		(6,961	)		(2,691	)
Prepaid expenses and other current assets		(1,802	)		(809	)
Other assets		—			(533	)
Accounts payable		(5,334	)		(1,061	)
Accrued liabilities		3,609			2,385
Accrued compensation and benefits		3,248			1,382
Deferred revenue		(1,207	)		8,416
Other long-term liabilities		(184	)		(265	)
Net cash used in operating activities		(5,759	)		2,352
CASH FLOWS FROM INVESTING ACTIVITIES:
Increase in restricted cash and deposits		(1,500	)		—
Decrease in restricted cash and deposits		413			—
Reclass from cash equivalents to short-term investments		—			(85	)
Maturities of short-term investments		2,999			4,300
Purchases of property and equipment		(8,191	)		(3,387	)
Acquisition, net of cash acquired of $9.7 million in 2013 and $0 in 2012		(160,813	)		—
Net cash used in investing activities		(167,092	)		828
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from follow-on offering, net of underwriting discounts		114,056			93,279
Payments of costs related to public offerings		(1,034	)		(2,401	)
Repayments on long-term debt		(1,848	)		—
Value of equity awards withheld for tax liability		(201	)		—
Repayments on capital lease liability		(167	)		(250	)
Proceeds from exercise of stock options		5,445			741
Net cash provided by financing activities		116,251			91,369
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(56,600	)		94,549
CASH AND CASH EQUIVALENTS — Beginning of period		100,017			7,041
CASH AND CASH EQUIVALENTS — End of period	$	43,417		$	101,590
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	$	544		$	586
Cash paid for income taxes	$	395		$	4
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Unpaid deferred IPO/follow-on public offering costs	$	—		$	1,431
Stock-based compensation capitalized in product development costs	$	407		$	30
Conversion of preferred stock warrants to common stock warrants	$	—		$	666
Purchase of equipment under capital leases	$	—		$	119
Net change related to purchase of equipment in accounts payable and accrued liabilities	$	136		$	(90	)
Release of valuation allowance	$	7,923		$	—
Shares issued and assumed related to acquisition		5,340,271			—

	Three Months Ended September 30,
	2013		2012
Marketplace revenue - reclassified ($ millions)	$	24.8	$	12.7
Marketplace revenue - prior classification ($ millions)	$	22.9	$	11.9
Media revenue - reclassified ($ millions)	$	9.0	$	5.9
Media revenue - prior classification ($ millions)	$	10.9	$	6.7