MaxPoint (Nasdaq:MXPT) today announced its financial results for
the quarter ended June 30, 2017.
Financial Highlights:
- Revenue of $32.8 million decreased 9% in the
second quarter of 2017, compared to $35.9 million for the second
quarter of 2016.
- Revenue ex-TAC1 of $23.4 million increased 1%
in the second quarter of 2017, compared to $23.2 million for the
second quarter of 2016.
- Net loss of $5.0 million in the second quarter
of 2017 compared to a net loss of $6.7 million for the second
quarter of 2016.
- Adjusted EBITDA1 of $(0.7) million in the
second quarter of 2017 compared to $(3.1) million for the second
quarter of 2016.
- Net loss per basic and diluted share of $0.75
in the second quarter of 2017 compared to $1.02 for the second
quarter of 2016.
- Non-GAAP net loss per basic and diluted share1
of $0.55 in the second quarter of 2017 compared to $0.87 for the
second quarter of 2016.
“During the second quarter, we saw significant growth from new
products and our path to profitability as we begin to reap the
benefit of fundamental changes made to our business in 2016,” said
Joe Epperson, MaxPoint’s Co-founder and CEO. “We continue to be on
track with our goal of becoming adjusted EBITDA positive in 2017
and cash flow positive in 2018.”
Second Quarter Operating Highlights:
- Our total number of enterprise customers1 decreased to 735 in
the second quarter, down 4% from 764 for the second quarter of
2016.
- During the quarter, non-display advertising, which includes
mobile, video and social, accounted for 62% of revenue, up from 49%
of revenue in the second quarter of 2016.
- During the quarter, revenue from mobile advertising on phones
and tablets accounted for 57% of revenue, up from 45% of revenue in
the second quarter of 2016.
Business Outlook
The following forward-looking statements reflect MaxPoint’s
expectations as of August 14, 2017.
Third Quarter 2017 Guidance:
- Revenue ex-TAC1 for the third quarter ending September 30,
2017 is expected to be between $25.0 million and $28.2
million.
- Adjusted EBITDA1 for the third quarter ending
September 30, 2017 is expected to be between $1.1 million and
$3.1 million.
Fiscal Year 2017 Guidance:
- Revenue ex-TAC1 for the fiscal year ending December 31,
2017 is expected to be between $101.5 million and $105.5
million.
- Adjusted EBITDA1 for the fiscal year ending December 31,
2017 is expected to be between $2.5 million and $4.5 million.
1 Represents a Non-GAAP financial measure or operating
performance metric. Please see the discussion below under the
heading “Non-GAAP Financial Measures and Operating Performance
Metrics” and the reconciliations that follow within this
release.
MaxPoint is not able to provide a reconciliation to GAAP revenue
or GAAP net loss for its third quarter and full year 2017 Revenue
ex-TAC and Adjusted EBITDA guidance at this time because of the
difficulty of estimating certain items that are excluded from
Revenue ex-TAC and Adjusted EBITDA guidance, such as traffic
acquisition costs and the items excluded from net loss to calculate
Adjusted EBITDA, the effect of which may be significant.
Reverse Stock Split
On April 25, 2016, we amended our amended and restated
certificate of incorporation effecting a 1-for-4 reverse stock
split of our outstanding shares of capital stock. The reverse stock
split did not change the number of our authorized shares of capital
stock or cause an adjustment to the par value of our capital stock.
As a result of the reverse stock split, we were required to adjust
the share amounts under our equity incentive plans and common stock
warrant agreements with third parties. All disclosures of
shares and per share data in this earnings release have been
adjusted to reflect the reverse stock split for all periods
presented.
Conference Call
The Company will host a conference call today, Monday,
August 14, 2017 at 5:00PM ET to discuss these results.
The conference call can be accessed at (855) 294-2073 or (661)
378-9969 (International), conference ID #51162061. The call
will also be webcast simultaneously at
http://edge.media-server.com/m/p/p6rai3vu. Following completion of
the call, a recorded replay of the webcast will be available within
the “News & Events” section of the Company’s investor relations
website at http://ir.maxpoint.com. To listen to the telephone
replay, call toll free (855) 859-2056 or (404) 537-3406, conference
ID #51162061. The telephone replay will be available from 8:00 PM
ET August 14 through 11:59 PM ET August 21, 2017.
Forward-Looking Statements
This press release contains forward-looking statements,
including the quotations from management and the statements in
“Business Outlook,” that are subject to a number of risks,
uncertainties, assumptions and other factors that could cause
actual results and the timing of certain events to differ
materially from future results expressed or implied by such
statements including, but not limited to: our limited operating
history, particularly as a public company, which makes it difficult
to evaluate our current business and future prospects; our ability
to achieve or sustain profitability; the effects of increased
competition in our market and our ability to compete effectively;
our ability to attract new customers; our ability to maintain or
increase the allocation of our existing customers’ marketing spend
to us; changes in our customers’ advertising budget allocations,
agency affiliations or marketing strategies; our ability to develop
new products and services, enhance our existing products and
services or make necessary changes to our technology platform or
business model; our ability to expand our business internationally;
our ability to comply with, and the effect on our business of,
evolving legal standards and regulations, particularly concerning
privacy and data protection; the seasonality of our business; our
dependence on the continued growth of the digital advertising
market; our ability to maintain a supply of media inventory or
impressions; our ability to retain key employees and attract
additional key employees; our ability to maintain effective
internal controls; our recognition of revenue from customer
subscriptions over the term of the customer agreements; and general
market, political, economic and business conditions, including
internationally. Additional factors that could cause actual results
to differ materially from those anticipated by our forward-looking
statements are described under “Risk Factors” in our Annual Report
on Form 10-K for the year ended December 31, 2016. Additional
information will also be provided in our Quarterly Report on Form
10-Q for the quarter ended June 30, 2017.
You should not rely upon forward-looking statements as
predictions of future events. Furthermore, such
forward-looking statements are only as of the date of this press
release. Except as required by law, we disclaim any obligation
to update these forward-looking statements publicly, or to update
the reasons actual results could differ materially from those
anticipated in these forward-looking statements, even if new
information becomes available in the future.
Non-GAAP Financial Measures and Operating Performance
Metrics
To supplement our consolidated financial statements, which are
prepared and presented in accordance with U.S. Generally Accepted
Accounting Principles (“GAAP”), we use the following Non-GAAP
financial measures: Revenue ex-TAC, Adjusted EBITDA, Non-GAAP net
loss and Non-GAAP net loss per basic and diluted share. We also use
number of enterprise customers, which is an operating performance
metric. The presentation of this financial information is not
intended to be considered in isolation or as a substitute for, or
superior to, the financial information prepared and presented in
accordance with GAAP.
We use these Non-GAAP financial measures for financial and
operational decision-making and as a means to evaluate
period-to-period performance. Our management believes that these
Non-GAAP financial measures provide meaningful supplemental
information regarding our results by (1) excluding certain expenses
and charges that may not be indicative of our recurring core
business activities; and (2) providing information for comparable
periods that help both management and investors assess our
operating performance. We believe these Non-GAAP financial measures
are useful to investors both because they allow for greater
transparency with respect to key metrics used by management in its
financial and operational decision-making and because they help our
institutional investors and the analyst community analyze our
business.
For more information on these Non-GAAP financial measures, see
the following descriptions and the tables below captioned
“Supplemental Information Including Reconciliations of Non-GAAP
Measures to the Nearest Comparable GAAP Measure.”
Revenue ex-TAC
Revenue ex-TAC is a Non-GAAP financial measure defined by us as
revenue less traffic acquisition costs. Traffic acquisition costs
consist of purchases of advertising impressions from real-time
bidding exchanges. We believe that Revenue ex-TAC is a meaningful
measure of operating performance because it is frequently used for
internal management purposes, indicates the effectiveness of
delivering results to advertisers and facilitates a more complete
period-to-period understanding of factors and trends affecting our
underlying revenue performance. A limitation of Revenue ex-TAC is
that it is a measure that other companies, including companies in
our industry that have similar business arrangements, either may
not use or may calculate differently, which reduces its usefulness
as a comparative measure. Because of these and other limitations,
we consider, and you should consider, Revenue ex-TAC alongside
other GAAP financial measures, such as revenue, gross profit and
total operating expenses.
Adjusted EBITDA
To provide investors with additional information regarding our
financial results, we provide Adjusted EBITDA, a Non-GAAP financial
measure. We define Adjusted EBITDA as net loss before income taxes,
interest, amortization of deferred financing costs and depreciation
and amortization, adjusted to eliminate stock-based compensation
expense.
We have presented Adjusted EBITDA because it is a key measure
used by our management and board of directors to understand and
evaluate our core operating performance and trends, to prepare and
approve our annual budget and to develop short- and long-term
operating plans. In particular, we believe the exclusion of certain
items in calculating Adjusted EBITDA can provide a useful measure
for period-to-period comparisons of our business. Accordingly, we
believe that Adjusted EBITDA provides useful information to
investors in understanding and evaluating our operating
results.
Our use of Adjusted EBITDA has limitations as an analytical
tool, and you should not consider it in isolation or as a
substitute for analysis of our 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 Adjusted EBITDA does not reflect cash capital
expenditure requirements for such replacements or for new capital
expenditure requirements;
- Adjusted EBITDA does not reflect changes in, or cash
requirements for, our working capital needs;
- Adjusted EBITDA does not reflect the potentially dilutive
impact of stock-based compensation;
- Adjusted EBITDA does not reflect interest or tax payments that
may represent a reduction in cash available to us;
- Our definition of Adjusted EBITDA for use as an operating
result measure differs from the Adjusted EBITDA definition used by
our lender to calculate our amended loan and security agreement
quarterly covenant; and
- Other companies, including companies in our industry, may
calculate Adjusted EBITDA differently, which reduces its usefulness
as a comparative measure.
Because of these and other limitations, we consider, and you
should consider, Adjusted EBITDA together with other GAAP-based
financial performance measures, including various cash flow
metrics, net loss and our other GAAP results.
Number of Enterprise Customers
Our number of enterprise customers is a key operating metric. We
believe our ability to increase the revenue we generate from
existing customers and attract new customers is an important
component of our growth strategy. We also believe that those
customers from which we have generated more than $10,000 of revenue
during any trailing twelve-month period best identifies customers
that are actively using our solution and contribute more
meaningfully to revenue. We refer to these customers as our
enterprise customers. Our ability to generate additional revenue
from our enterprise customers is an important indicator of our
ability to grow revenue over time.
In those cases where we work with multiple brands or divisions
within the same company or where the company runs marketing
campaigns in multiple geographies, even though multiple insertion
orders may be involved, we count that company as a single customer.
When an insertion order is with an advertising agency, we consider
the company on behalf of which the marketing campaign is conducted
as our enterprise customer. If a company has its marketing spend
with us managed by multiple advertising agencies, that company is
counted as a single enterprise customer.
While the number of our enterprise customers has generally
increased over time, this number can also fluctuate from quarter to
quarter due to the seasonal trends in the advertising spend of our
enterprise and other customers, which can impact the timing and
amount of revenue we generate from them. Therefore, there is not
necessarily a direct correlation between a change in the number of
enterprise customers for a particular period and an increase or
decrease in our revenue during that period.
Non-GAAP Net Loss
We define Non-GAAP net loss as net loss less non-cash
stock-based compensation expense. We believe the exclusion of this
non-cash charge can provide a useful measure for period-to-period
comparisons of our business. A limitation of Non-GAAP net loss is
that it is a measure that other companies, including companies in
our industry that have similar business arrangements, either may
not use or may calculate differently, which reduces its usefulness
as a comparative measure. Because of these and other limitations,
we consider, and you should consider, Non-GAAP net loss together
with other GAAP-based financial performance measures, including
various cash flow metrics, net loss and our other GAAP results.
Non-GAAP Net Loss per Basic and Diluted Share
We define Non-GAAP net loss per basic and diluted share as net
loss less non-cash stock-based compensation expense per basic and
diluted share. We consider, and you should consider, Non-GAAP net
loss per basic and diluted share together with other GAAP-based
financial performance measures, including net loss per basic and
diluted share, net loss and our other GAAP results.
About MaxPoint
MaxPoint is a marketing technology company that generates
hyperlocal intelligence to optimize brand and retail performance.
We provide a platform for brands to connect the digital world with
the physical world through hyperlocal execution, measurement, and
consumer insights.
The company’s proprietary Digital Zip® technology and the
MaxPoint Intelligence Platform™ predict the most likely buyers of a
specific product at a particular retail location and then execute
cross-channel digital marketing programs to reach these buyers. For
more information, visit maxpoint.com.
| MaxPoint Interactive, Inc. and
SubsidiaryCondensed Consolidated Balance
Sheets(Unaudited)(in thousands,
except share data) |
| |
| |
As of December 31, |
|
As of June 30, |
| |
2016 |
|
2017 |
|
Assets |
|
|
|
| Current assets: |
|
|
|
| Cash and
cash equivalents |
$ |
24,221 |
|
|
$ |
15,696 |
|
| Accounts
receivable, net |
43,432 |
|
|
30,746 |
|
| Prepaid
expenses and other current assets |
1,477 |
|
|
2,394 |
|
| Total
current assets |
69,130 |
|
|
48,836 |
|
| Property, equipment and
software, net |
20,125 |
|
|
19,338 |
|
| Other long-term
assets |
60 |
|
|
140 |
|
| Total
assets |
$ |
89,315 |
|
|
$ |
68,314 |
|
| Liabilities and
Stockholders’ equity |
|
|
|
| Current
liabilities: |
|
|
|
| Accounts
payable |
$ |
12,660 |
|
|
$ |
10,192 |
|
| Accrued
expenses and other current liabilities |
9,400 |
|
|
7,040 |
|
| Revolving
line of credit |
27,489 |
|
|
23,471 |
|
| Total
current liabilities |
49,549 |
|
|
40,703 |
|
| Other long-term
liabilities |
1,218 |
|
|
1,085 |
|
| Total
liabilities |
50,767 |
|
|
41,788 |
|
| Commitments and
contingencies |
|
|
|
| Stockholders’
equity: |
|
|
|
| Common
stock, $0.00005 par value; 500,000,000 shares authorized, 6,632,889
and 6,764,021 shares issued and outstanding as of December 31, 2016
and June 30, 2017, respectively |
1 |
|
|
1 |
|
|
Additional paid-in capital |
107,898 |
|
|
110,110 |
|
|
Accumulated other comprehensive loss |
(200 |
) |
|
(169 |
) |
|
Accumulated deficit |
(69,151 |
) |
|
(83,416 |
) |
| Total
stockholders’ equity |
38,548 |
|
|
26,526 |
|
| Total
liabilities and stockholders’ equity |
$ |
89,315 |
|
|
$ |
68,314 |
|
| MaxPoint Interactive, Inc. and
SubsidiaryCondensed Consolidated
Statements of
Operations(Unaudited)(in
thousands, except share and per share data) |
|
|
| |
Three Months Ended June 30, |
|
Six Months Ended June 30, |
| |
2016 |
|
2017 |
|
2016 |
|
2017 |
| Revenue |
$ |
35,939 |
|
|
$ |
32,847 |
|
|
$ |
65,389 |
|
|
$ |
60,700 |
|
| Traffic acquisition
costs |
12,775 |
|
|
9,444 |
|
|
22,863 |
|
|
18,243 |
|
| Other cost of
revenue |
4,932 |
|
|
5,398 |
|
|
9,575 |
|
|
10,074 |
|
| Gross
profit |
18,232 |
|
|
18,005 |
|
|
32,951 |
|
|
32,383 |
|
| Operating
expenses: |
|
|
|
|
|
|
|
| Sales and
marketing |
13,205 |
|
|
12,483 |
|
|
26,554 |
|
|
24,866 |
|
| Research
and development |
7,081 |
|
|
6,367 |
|
|
13,588 |
|
|
12,791 |
|
| General
and administrative |
4,383 |
|
|
3,982 |
|
|
9,701 |
|
|
8,594 |
|
| Total
operating expenses |
24,669 |
|
|
22,832 |
|
|
49,843 |
|
|
46,251 |
|
| Loss from
operations |
(6,437 |
) |
|
(4,827 |
) |
|
(16,892 |
) |
|
(13,868 |
) |
| Other expense
(income): |
|
|
|
|
|
|
|
| Interest
expense |
236 |
|
|
186 |
|
|
500 |
|
|
358 |
|
| Interest
income |
— |
|
|
— |
|
|
(3 |
) |
|
— |
|
|
Amortization of deferred financing costs |
10 |
|
|
21 |
|
|
28 |
|
|
39 |
|
| Total
other expense |
246 |
|
|
207 |
|
|
525 |
|
|
397 |
|
| Loss before income
taxes |
(6,683 |
) |
|
(5,034 |
) |
|
(17,417 |
) |
|
(14,265 |
) |
| Provision for income
taxes |
— |
|
|
— |
|
|
— |
|
|
— |
|
| Net loss |
$ |
(6,683 |
) |
|
$ |
(5,034 |
) |
|
$ |
(17,417 |
) |
|
$ |
(14,265 |
) |
| |
|
|
|
|
|
|
|
| Net loss per basic and
diluted share of common stock |
$ |
(1.02 |
) |
|
$ |
(0.75 |
) |
|
$ |
(2.65 |
) |
|
$ |
(2.13 |
) |
| |
|
|
|
|
|
|
|
| Weighted-average shares
used to compute net loss per basic and diluted share of common
stock |
6,581,722 |
|
|
6,734,408 |
|
|
6,573,467 |
|
|
6,689,192 |
|
| MaxPoint Interactive, Inc. and
SubsidiaryCondensed Consolidated Statements of
Cash Flows(Unaudited)(in
thousands) |
| |
| |
Six Months Ended June 30, |
| |
2016 |
|
2017 |
| Cash flows from
operating activities: |
|
|
|
| Net
loss |
$ |
(17,417 |
) |
|
$ |
(14,265 |
) |
|
Adjustments to reconcile net loss to net cash (used in) provided by
operating activities: |
|
|
|
|
Depreciation and amortization |
4,612 |
|
|
5,410 |
|
|
Stock-based compensation expense |
1,778 |
|
|
2,400 |
|
| Bad debt
expense |
328 |
|
|
(3 |
) |
| Loss on
disposal of asset |
4 |
|
|
— |
|
|
Amortization of deferred financing costs |
28 |
|
|
39 |
|
| Changes
in operating assets and liabilities: |
|
|
|
| Accounts
receivable |
6,175 |
|
|
12,702 |
|
| Prepaid
expenses and other current assets |
(1,312 |
) |
|
(897 |
) |
| Security
deposits |
(20 |
) |
|
— |
|
| Accounts
payable |
(3,704 |
) |
|
(2,480 |
) |
| Accrued
expenses and other current liabilities |
1,559 |
|
|
(2,371 |
) |
| Other
long-term liabilities |
382 |
|
|
(133 |
) |
| Net cash
(used in) provided by operating activities |
(7,587 |
) |
|
402 |
|
| Cash flows from
investing activities: |
|
|
|
| Purchases
of property, equipment and software |
(1,251 |
) |
|
(1,168 |
) |
|
Capitalized internal-use software costs |
(3,581 |
) |
|
(3,043 |
) |
| Changes
to restricted cash |
1,861 |
|
|
— |
|
| Net cash
used in investing activities |
(2,971 |
) |
|
(4,211 |
) |
| Cash flows from
financing activities: |
|
|
|
| Proceeds
from debt |
3,400 |
|
|
68,700 |
|
| Repayment
of debt |
(7,000 |
) |
|
(72,718 |
) |
| Proceeds
from stock option exercises |
73 |
|
|
48 |
|
| Proceeds
from issuance of common stock under employee stock purchase
plan |
202 |
|
|
154 |
|
| Tax
withholdings related to net share settlements of restricted stock
units |
— |
|
|
(458 |
) |
| Payments
for repurchases of common stock |
(125 |
) |
|
(325 |
) |
| Payments
of issuance costs related to debt |
(54 |
) |
|
(132 |
) |
| Net cash
used in financing activities |
(3,504 |
) |
|
(4,731 |
) |
| Effect of exchange rate
changes on cash and cash equivalents |
(28 |
) |
|
15 |
|
| Net decrease in cash
and cash equivalents |
(14,090 |
) |
|
(8,525 |
) |
| Cash and cash
equivalents at beginning of period |
41,143 |
|
|
24,221 |
|
| Cash and cash
equivalents at end of period |
$ |
27,053 |
|
|
$ |
15,696 |
|
| MaxPoint Interactive, Inc. and
SubsidiaryCondensed Consolidated Statements of
Cash Flows
(continued)(Unaudited)(in
thousands) |
| |
| |
Six Months Ended June 30, |
| |
2016 |
|
2017 |
| Supplemental
disclosures of other cash flow information: |
|
|
|
| Cash paid
for interest |
$ |
529 |
|
|
$ |
407 |
|
| Supplemental
disclosures of non-cash investing and financing
activities: |
|
|
|
| Purchases
of property, equipment and software included in accounts payable
and accruals |
$ |
336 |
|
|
$ |
530 |
|
| Additions
to property, equipment and software from other long-term
assets |
$ |
213 |
|
|
$ |
— |
|
|
Stock-based compensation capitalized in internal-use software
costs |
$ |
216 |
|
|
$ |
393 |
|
| MaxPoint Interactive, Inc. and
SubsidiarySupplemental Information Including
Reconciliations of Non-GAAP Measuresto the Nearest
Comparable GAAP Measure |
| |
| Unaudited Key Financial and Operating Performance
Metrics(in thousands, except number of enterprise customers) |
|
|
| |
Three Months |
|
Six Months |
| Ended June 30, |
Ended June 30, |
| |
2016 |
|
2017 |
|
2016 |
|
2017 |
| |
(in thousands, except number of |
| enterprise customers) |
| Revenue |
$ |
35,939 |
|
|
$ |
32,847 |
|
|
$ |
65,389 |
|
|
$ |
60,700 |
|
| Revenue ex-TAC |
$ |
23,164 |
|
|
$ |
23,403 |
|
|
$ |
42,526 |
|
|
$ |
42,457 |
|
| Adjusted EBITDA |
$ |
(3,102 |
) |
|
$ |
(731 |
) |
|
$ |
(10,286 |
) |
|
$ |
(5,665 |
) |
| Number of enterprise
customers |
764 |
|
|
735 |
|
|
764 |
|
|
735 |
|
|
|
| Unaudited Reconciliation from GAAP Revenue to Non-GAAP
Revenue ex-TAC(in thousands) |
|
|
| |
Three Months |
|
Six Months |
| Ended June 30, |
Ended June 30, |
| |
2016 |
|
2017 |
|
2016 |
|
2017 |
| |
(in thousands) |
| Revenue |
$ |
35,939 |
|
|
$ |
32,847 |
|
|
$ |
65,389 |
|
|
$ |
60,700 |
|
| Less: traffic
acquisition costs |
(12,775 |
) |
|
(9,444 |
) |
|
(22,863 |
) |
|
(18,243 |
) |
| Revenue ex-TAC |
$ |
23,164 |
|
|
$ |
23,403 |
|
|
$ |
42,526 |
|
|
$ |
42,457 |
|
|
|
| Unaudited Reconciliation from GAAP Net Loss to
Non-GAAP Adjusted EBITDA(in thousands) |
|
|
| |
Three Months |
|
Six Months |
| Ended June 30, |
Ended June 30, |
| |
2016 |
|
2017 |
|
2016 |
|
2017 |
| |
(in thousands) |
| Net loss |
$ |
(6,683 |
) |
|
$ |
(5,034 |
) |
|
$ |
(17,417 |
) |
|
$ |
(14,265 |
) |
| Adjustments: |
|
|
|
|
|
|
|
| Interest
expense |
236 |
|
|
186 |
|
|
500 |
|
|
358 |
|
| Interest
income |
— |
|
|
— |
|
|
(3 |
) |
|
— |
|
|
Amortization of deferred financing costs |
10 |
|
|
21 |
|
|
28 |
|
|
39 |
|
| Provision
for income taxes |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Depreciation and amortization |
2,380 |
|
|
2,757 |
|
|
4,612 |
|
|
5,410 |
|
|
Stock-based compensation |
955 |
|
|
1,339 |
|
|
1,994 |
|
|
2,793 |
|
| Adjusted EBITDA |
$ |
(3,102 |
) |
|
$ |
(731 |
) |
|
$ |
(10,286 |
) |
|
$ |
(5,665 |
) |
|
|
| Unaudited Depreciation and Amortization included
in GAAP Net Loss(in thousands) |
|
|
| |
Three Months |
|
Six Months |
| Ended June 30, |
Ended June 30, |
| |
2016 |
|
2017 |
|
2016 |
|
2017 |
| |
(in thousands) |
| Other cost of
revenue |
$ |
1,692 |
|
|
$ |
1,988 |
|
|
$ |
3,319 |
|
|
$ |
3,896 |
|
| Sales and
marketing |
120 |
|
|
152 |
|
|
233 |
|
|
304 |
|
| Research and
development |
536 |
|
|
587 |
|
|
999 |
|
|
1,149 |
|
| General and
administrative |
32 |
|
|
30 |
|
|
61 |
|
|
61 |
|
| Total depreciation and
amortization |
$ |
2,380 |
|
|
$ |
2,757 |
|
|
$ |
4,612 |
|
|
$ |
5,410 |
|
|
|
| Unaudited Stock-Based Compensation included in
GAAP Net Loss(in thousands) |
|
|
| |
Three Months |
|
Six Months |
| Ended June 30, |
Ended June 30, |
| |
2016 |
|
2017 |
|
2016 |
|
2017 |
| |
(in thousands) |
| Other cost of
revenue |
$ |
21 |
|
|
$ |
44 |
|
|
$ |
42 |
|
|
$ |
93 |
|
| Sales and
marketing |
186 |
|
|
223 |
|
|
408 |
|
|
513 |
|
| Research and
development |
369 |
|
|
559 |
|
|
758 |
|
|
1,159 |
|
| General and
administrative |
379 |
|
|
513 |
|
|
786 |
|
|
1,028 |
|
| Total stock-based
compensation |
$ |
955 |
|
|
$ |
1,339 |
|
|
$ |
1,994 |
|
|
$ |
2,793 |
|
|
|
| Unaudited Reconciliation from GAAP Net Loss to
Non-GAAP Net Loss(in thousands) |
|
|
| |
Three Months |
|
Six Months |
| Ended June 30, |
Ended June 30, |
| |
2016 |
|
2017 |
|
2016 |
|
2017 |
| |
(in thousands) |
| Net loss |
$ |
(6,683 |
) |
|
$ |
(5,034 |
) |
|
$ |
(17,417 |
) |
|
$ |
(14,265 |
) |
| Stock-based
compensation |
955 |
|
|
1,339 |
|
|
1,994 |
|
|
2,793 |
|
| Non-GAAP net loss |
$ |
(5,728 |
) |
|
$ |
(3,695 |
) |
|
$ |
(15,423 |
) |
|
$ |
(11,472 |
) |
|
|
| Unaudited Reconciliation from GAAP Net Loss per
Basic and Diluted Share toNon-GAAP Net Loss per Basic and Diluted
Share(in thousands, except share and per share data) |
|
|
| |
Three Months |
|
Six Months |
| Ended June 30, |
Ended June 30, |
| |
2016 |
|
2017 |
|
2016 |
|
2017 |
| |
(in thousands, except share and per share
data) |
| Net loss |
$ |
(6,683 |
) |
|
$ |
(5,034 |
) |
|
$ |
(17,417 |
) |
|
$ |
(14,265 |
) |
|
Weighted-average shares used to compute net loss per basic and
diluted share of common stock |
6,581,722 |
|
|
6,734,408 |
|
|
6,573,467 |
|
|
6,689,192 |
|
| Net loss per basic and
diluted share of common stock |
$ |
(1.02 |
) |
|
$ |
(0.75 |
) |
|
$ |
(2.65 |
) |
|
$ |
(2.13 |
) |
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| Non-GAAP net loss |
$ |
(5,728 |
) |
|
$ |
(3,695 |
) |
|
$ |
(15,423 |
) |
|
$ |
(11,472 |
) |
|
Weighted-average shares used to compute net loss per basic and
diluted share of common stock |
6,581,722 |
|
|
6,734,408 |
|
|
6,573,467 |
|
|
6,689,192 |
|
| Non-GAAP
net loss per basic and diluted share of common stock |
$ |
(0.87 |
) |
|
$ |
(0.55 |
) |
|
$ |
(2.35 |
) |
|
$ |
(1.72 |
) |
|
|
MaxPoint Interactive
Media Contact:
Patrick Foarde
Ketchum for MaxPoint
patrick.foarde@ketchum.com
404-879-9254
or
Investor Relations Contact:
Denise Garcia
ir@maxpoint.com
800-916-9960
MaxPoint Interactive, Inc. (NASDAQ:MXPT)
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From Jan 2025 to Feb 2025
MaxPoint Interactive, Inc. (NASDAQ:MXPT)
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