SALT LAKE CITY, Aug. 4, 2016 /PRNewswire/ -- inContact, Inc.
(NASDAQ: SAAS), the leading provider of cloud contact center
software and workforce optimization tools, today reported financial
results for the second quarter ended June
30, 2016.
"I'm pleased to report strong revenues and positive adjusted
EBITDA in the second quarter of 2016," said Paul Jarman, inContact CEO. "During the quarter
we closed 170 total contracts, including 111 new logo customers and
59 expansion deals with existing customers."
Revenue
Software segment revenue totaled $42.4
million for the quarter ended June
30, 2016, an increase of 24% from $34.1 million in Q2 2015. Consolidated revenue
for the quarter ended June 30, 2016
was $63.8 million versus $53.1 million for the same period in 2015, an
increase of 20%.
As of June 2016 our Annualized
Monthly Recurring Software Revenue was $164.4 million, an increase of 33% from
$124.0 million as of June 2015.
Gross Margin
Software segment gross margin for the quarter ended June 30, 2016 was 59% versus 58% for the same
period in 2015. Non-GAAP Software segment gross margin which
represents the elimination of amortization of acquired intangible
assets and stock-based compensation was 63% for the second quarter
of 2016, versus 62% in the second quarter of 2015 (see
reconciliation of non-GAAP measures below). Second quarter 2016
Network connectivity segment gross margin was 37% versus 37% for
the same period in 2015.
Consolidated gross margin percentage was 52% in the second
quarter of 2016 compared to 50% for the same period in 2015.
Non-GAAP consolidated gross margin which represents the elimination
of amortization of acquired intangible assets and stock-based
compensation was 54% for the second quarter 2016 compared to 53%
for the same period in 2015 (see reconciliation of non-GAAP
measures below).
Operating Expenses
Operating expenses for the second quarter of 2016 were
$38.6 million or 61% of total revenue
versus $32.2 million or 61% of total
revenue during the same period in 2015. Non-GAAP operating
expenses which represents the elimination of amortization of
acquired intangible assets and stock-based compensation for the
second quarter of 2016 were $36.8
million or 58% of total revenue versus $30.8 million or 58% of total revenue during the
same period in 2015 (see reconciliation of non-GAAP measures
below). The second quarter of 2016 operating expenses
includes $2.5 million in
non-recurring expenses, $1.9 million
of which relates to our proposed merger with NICE-Systems
Ltd. After adjusting for non-recurring items, operating
expenses in the current quarter were $36.1
million or 57% of total revenues compared to 61% in the same
period of 2015. On a non-GAAP basis, operating expenses as a
percent of total revenues were 54% and 58% for Q2 2016 compared to
Q2 2015, respectively.
Adjusted EBITDA
Adjusted EBITDA for the second quarter of 2016 was $3.0 million versus $1.4
million during the same period in 2015, an increase of 115%.
Adjusted EBITDA, after adjustment for the $2.5 million in non-recurring operating expenses
was $5.5 million, an increase of 292%
versus our second quarter 2015 operating results. Adjusted EBITDA
is a non-GAAP measure management believes provides important
insight into our operating results (see reconciliation of non-GAAP
measures below).
Net Loss
Net loss for the quarter ended June 30,
2016 was $7.4 million, or
($0.12) per basic and diluted share,
as compared to net loss of $7.3
million or ($0.12) per basic
and diluted share for the same period in 2015. Non-GAAP net
loss for the quarter ended June 30,
2016 was $3.1 million, or
($0.05) per basic and diluted share,
as compared to non-GAAP net loss of $3.4
million or ($0.06) per basic
and diluted share for the same period in 2015. Net loss, after
adjustment for the $2.5 million in
non-recurring operating expenses was $4.9
million on a GAAP basis and $0.6
million on a non-GAAP basis (see reconciliation of non-GAAP
measures below).
Guidance for 2016
Given the announcement made on May 18,
2016 regarding the Company's entry into a definitive
agreement to be acquired by NICE-Systems Ltd., we will not be
providing financial guidance for the third quarter or full year
2016. The company's previously issued financial guidance
should no longer be relied upon.
CONFERENCE CALL INFORMATION
There will be no earnings call held in conjunction with this
release. Please visit http://investor.incontact.com for the
latest inContact releases and information.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
All statements included in this press release, other than
statements or characterizations of historical fact, are
forward-looking statements. These forward-looking statements are
based on inContact's current expectations, estimates and
projections about inContact's industry, management's beliefs, and
certain assumptions made by management, all of which are subject to
change. Forward-looking statements can often be identified by words
such as "anticipates," "expects," "intends," "plans," "predicts,"
"believes," "seeks," "estimates," "may," "will," "should," "would,"
"could," "potential," "continue," "ongoing," similar expressions,
and variations or negatives of these words and include, but are not
limited to, statements regarding projected results of operations
and management's future strategic plans. These forward-looking
statements are not guarantees of future results and are subject to
risks, uncertainties and assumptions that could cause our actual
results to differ materially and adversely from those expressed in
any forward-looking statement.
The risks and uncertainties referred to above include, but are
not limited to, risks associated with inContact's business model;
our ability to develop or acquire, and gain market acceptance for
new products, including our new sales and marketing and voice
automation products, in a cost-effective and timely manner; the
gain or loss of key customers; competitive pressures; its ability
to expand operations; fluctuations in its earnings as a result of
the impact of stock-based compensation expense; interruptions or
delays in our hosting operations; breaches of our security
measures; its ability to protect our intellectual property from
infringement, and to avoid infringing on the intellectual property
rights of third parties; and its ability to expand, retain and
motivate our employees and manage its growth. Further information
on potential factors that could affect our financial results is
included in inContact's annual report on Form 10-K, quarterly
reports of Form 10-Q, and in other filings with the Securities and
Exchange Commission. The forward-looking statements in this release
speak only as of the date they are made. inContact undertakes no
obligation to revise or update publicly any forward-looking
statement for any reason.
|
INCONTACT,
INC.
|
|
CONDENSED
CONSOLIDATED BALANCE SHEETS - (Unaudited)
|
|
(in
thousands)
|
|
|
|
|
|
June
30,
|
|
December
31,
|
|
2016
|
|
2015
|
|
ASSETS
|
|
|
|
|
Current
assets:
|
|
|
|
|
Cash and cash
equivalents
|
$
37,864
|
|
$
29,050
|
|
Restricted
cash
|
-
|
|
81
|
|
Investments
|
54,812
|
|
75,109
|
|
Accounts and other
receivables, net of allowance for uncollectible
|
|
|
|
|
accounts of $1,781
and $2,555, respectively
|
37,384
|
|
37,185
|
|
Other current
assets
|
8,365
|
|
9,243
|
|
Total current
assets
|
138,425
|
|
150,668
|
|
|
|
|
|
Property and
equipment, net
|
52,542
|
|
42,569
|
|
Intangible assets,
net
|
28,351
|
|
19,232
|
|
Goodwill
|
49,016
|
|
39,247
|
|
Other
assets
|
3,184
|
|
2,421
|
|
Total
assets
|
$ 271,518
|
|
$
254,137
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
Trade accounts
payable
|
$
16,212
|
|
$
11,607
|
|
Accrued
liabilities
|
15,757
|
|
12,828
|
|
Accrued
commissions
|
4,581
|
|
4,615
|
|
Current portion of
deferred revenue
|
14,270
|
|
11,530
|
|
Total current
liabilities
|
50,820
|
|
40,580
|
|
|
|
|
|
Deferred
revenue
|
6,824
|
|
6,082
|
|
Deferred rent and
lease incentive obligation
|
6,381
|
|
3
|
|
Deferred tax
liability, net
|
348
|
|
230
|
|
Long-term
debt
|
84,122
|
|
81,985
|
|
Total
liabilities
|
148,495
|
|
128,880
|
|
|
|
|
|
Total stockholders'
equity
|
123,023
|
|
125,257
|
|
Total liabilities and
stockholders' equity
|
$ 271,518
|
|
$
254,137
|
|
|
|
|
|
|
|
|
|
INCONTACT,
INC.
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
|
|
(in thousands,
except per share data)
|
|
|
|
|
|
|
|
|
|
Three
Months
|
|
Six
Months
|
|
Ended June
30,
|
|
Ended June
30,
|
|
2016
|
|
2015
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
Net
revenue:
|
|
|
|
|
|
|
|
|
Software
|
$ 42,360
|
|
$ 34,052
|
|
$ 83,908
|
|
$
66,518
|
|
Network
connectivity
|
21,438
|
|
19,019
|
|
42,277
|
|
37,891
|
|
Total net
revenue
|
63,798
|
|
53,071
|
|
126,185
|
|
104,409
|
|
Costs of
revenue:
|
|
|
|
|
|
|
|
|
Software
|
17,274
|
|
14,360
|
|
33,939
|
|
28,057
|
|
Network
connectivity
|
13,486
|
|
11,983
|
|
26,922
|
|
23,794
|
|
Total costs of
revenue
|
30,760
|
|
26,343
|
|
60,861
|
|
51,851
|
|
Gross
profit
|
33,038
|
|
26,728
|
|
65,324
|
|
52,558
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Selling and
marketing
|
18,117
|
|
16,264
|
|
36,327
|
|
31,739
|
|
Research and
development
|
9,220
|
|
7,040
|
|
17,829
|
|
13,693
|
|
General and
administrative
|
11,274
|
|
8,871
|
|
19,949
|
|
17,949
|
|
Total operating
expenses
|
38,611
|
|
32,175
|
|
74,105
|
|
63,381
|
|
Loss from
operations
|
(5,573)
|
|
(5,447)
|
|
(8,781)
|
|
(10,823)
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
Interest
expense
|
(1,819)
|
|
(1,768)
|
|
(3,582)
|
|
(2,202)
|
|
Interest
income
|
172
|
|
58
|
|
326
|
|
58
|
|
Other
expense
|
(5)
|
|
(1)
|
|
(6)
|
|
-
|
|
Loss before income
taxes
|
(7,225)
|
|
(7,158)
|
|
(12,043)
|
|
(12,967)
|
|
Income tax benefit
(expense)
|
(194)
|
|
(132)
|
|
2,396
|
|
(311)
|
|
Net loss
|
$ (7,419)
|
|
$ (7,290)
|
|
$ (9,647)
|
|
$ (13,278)
|
|
|
|
|
|
|
|
|
|
Net loss per common
share:
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
$
(0.12)
|
|
$
(0.12)
|
|
$
(0.15)
|
|
$
(0.22)
|
|
Weighted average
common shares outstanding:
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
62,649
|
|
61,501
|
|
62,456
|
|
61,263
|
|
INCONTACT,
INC.
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS - (Unaudited)
|
|
(in
thousands)
|
|
|
|
|
|
Six Months Ended June
30,
|
|
2016
|
|
2015
|
|
Cash flows from
operating activities:
|
|
|
|
|
Net loss
|
$ (9,647)
|
|
$ (13,278)
|
|
Adjustments to
reconcile net loss to net cash from operating
|
|
|
|
|
activities:
|
|
|
|
|
Depreciation of
property and equipment
|
6,472
|
|
4,877
|
|
Amortization of
software development costs
|
4,042
|
|
3,192
|
|
Amortization of
intangible assets
|
2,506
|
|
2,599
|
|
Amortization of
deferred debt issuance costs
|
193
|
|
296
|
|
Stock-based
compensation
|
4,538
|
|
4,210
|
|
Loss on disposal of
property and equipment
|
1,296
|
|
72
|
|
Interest
accretion
|
1,944
|
|
921
|
|
Amortization of
investment premium
|
476
|
|
-
|
|
Deferred income
taxes
|
(2,548)
|
|
-
|
|
Changes in operating
assets and liabilities, net of business
acquisitions:
|
|
|
|
|
Accounts and other
receivables, net
|
(100)
|
|
(2,311)
|
|
Other current
assets
|
943
|
|
(1,400)
|
|
Other non-current
assets
|
(763)
|
|
192
|
|
Trade accounts
payable
|
4,029
|
|
1,144
|
|
Accrued
liabilities
|
2,877
|
|
1,253
|
|
Accrued
commissions
|
(34)
|
|
441
|
|
Deferred rent and
lease incentive obligation
|
6,382
|
|
(185)
|
|
Deferred
revenue
|
3,226
|
|
3,166
|
|
Net cash provided by
(used in) operating activities
|
25,832
|
|
5,189
|
|
Cash flows from
investing activities:
|
|
|
|
|
Decrease in
restricted cash
|
81
|
|
-
|
|
Sales and maturities
of available for sale investments
|
50,781
|
|
986
|
|
Purchases of
available for sale investments
|
(30,868)
|
|
(64,122)
|
|
Capitalized software
development costs
|
(7,159)
|
|
(4,418)
|
|
Purchases of property
and equipment
|
(13,846)
|
|
(8,196)
|
|
Business
acquisitions, net of cash acquired
|
(18,446)
|
|
-
|
|
Payments made on
deposits
|
-
|
|
(19)
|
|
Net cash used in
investing activities
|
(19,457)
|
|
(75,769)
|
|
Cash flows from
financing activities:
|
|
|
|
|
Proceeds from
exercise of options
|
2,599
|
|
2,294
|
|
Proceeds from sale of
stock under employee stock purchase plan
|
826
|
|
806
|
|
Principal payments
under debt and capital lease obligations
|
-
|
|
(11,824)
|
|
Purchase of treasury
stock
|
(986)
|
|
(538)
|
|
Payments under
revolving credit agreement
|
-
|
|
(11,000)
|
|
Proceeds from
issuance of convertible notes, net
|
-
|
|
111,190
|
|
Net cash provided by
financing activities
|
2,439
|
|
90,928
|
|
Net (decrease)
increase in cash and cash equivalents
|
8,814
|
|
20,348
|
|
Cash and cash
equivalents at the beginning of the period
|
29,050
|
|
32,414
|
|
Cash and cash
equivalents at the end of the period
|
$ 37,864
|
|
$
52,762
|
SEGMENT REPORTING
We operate under two business segments: Software and Network
connectivity. The Software segment includes all revenue related to
the delivery of our software applications, plus the associated
professional services and setup fees. The Network connectivity
segment includes all voice and data long distance services provided
to customers.
For segment reporting, we classify operating expenses as either
"direct" or "indirect." Direct expense refers to costs attributable
solely to either selling and marketing efforts or research and
development efforts. Indirect expense refers to costs that
management considers to be overhead in running the business.
Management evaluates expenditures for both selling and marketing
and research and development efforts at the segment level without
the allocation of overhead expenses, such as rent, utilities and
depreciation on property and equipment.
Operating segment revenues and profitability for the three
months ended June 30, 2016 and 2015
were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30, 2016
|
|
Three Months Ended
June 30, 2015
|
|
|
|
Network
|
|
|
|
|
|
Network
|
|
|
|
Software
|
|
Connectivity
|
|
Consolidated
|
|
Software
|
|
Connectivity
|
|
Consolidated
|
|
Net
revenue
|
$
42,360
|
|
$
21,438
|
|
$
63,798
|
|
$
34,052
|
|
$
19,019
|
|
$
53,071
|
|
Costs of
revenue
|
17,274
|
|
13,486
|
|
30,760
|
|
14,360
|
|
11,983
|
|
26,343
|
|
Gross
profit
|
25,086
|
|
7,952
|
|
33,038
|
|
19,692
|
|
7,036
|
|
26,728
|
|
Gross
margin
|
59%
|
|
37%
|
|
52%
|
|
58%
|
|
37%
|
|
50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Direct selling and
marketing
|
16,244
|
|
837
|
|
17,081
|
|
14,668
|
|
936
|
|
15,604
|
|
Direct research and
development
|
8,482
|
|
-
|
|
8,482
|
|
6,659
|
|
-
|
|
6,659
|
|
Indirect
|
12,378
|
|
670
|
|
13,048
|
|
8,695
|
|
1,217
|
|
9,912
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
$ (12,018)
|
|
$
6,445
|
|
$
(5,573)
|
|
$ (10,330)
|
|
$
4,883
|
|
$
(5,447)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
June 30, 2016
|
|
Six Months Ended
June 30, 2015
|
|
|
|
Network
|
|
|
|
|
|
Network
|
|
|
|
Software
|
|
Connectivity
|
|
Consolidated
|
|
Software
|
|
Connectivity
|
|
Consolidated
|
|
Net
revenue
|
$
83,908
|
|
$
42,277
|
|
$
126,185
|
|
$
66,518
|
|
$
37,891
|
|
$
104,409
|
|
Costs of
revenue
|
33,939
|
|
26,922
|
|
60,861
|
|
28,057
|
|
23,794
|
|
51,851
|
|
Gross
profit
|
49,969
|
|
15,355
|
|
65,324
|
|
38,461
|
|
14,097
|
|
52,558
|
|
Gross
margin
|
60%
|
|
36%
|
|
52%
|
|
58%
|
|
37%
|
|
50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Direct selling and
marketing
|
32,669
|
|
1,694
|
|
34,363
|
|
28,654
|
|
1,759
|
|
30,413
|
|
Direct research and
development
|
16,448
|
|
-
|
|
16,448
|
|
12,952
|
|
-
|
|
12,952
|
|
Indirect
|
21,727
|
|
1,567
|
|
23,294
|
|
17,730
|
|
2,286
|
|
20,016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
$ (20,875)
|
|
$
12,094
|
|
$
(8,781)
|
|
$ (20,875)
|
|
$
10,052
|
|
$
(10,823)
|
RECONCILIATION of NON-GAAP MEASURES:
"Adjusted EBITDA" is Earnings Before deductions for Interest,
Taxes, Depreciation and Amortization and Stock-Based Compensation.
The "Non-GAAP" measures represent the elimination of amortization
of acquired intangible assets and stock-based compensation. Neither
are measures of financial performance under generally accepted
accounting principles (GAAP). The Adjusted EBITDA and the Non-GAAP
measures are provided for the use of the reader in understanding
our operating results and are not prepared in accordance with, nor
does it serve as an alternative to GAAP measures and may be
materially different from similar measures used by other companies.
While not a substitute for information prepared in accordance with
GAAP, management believes that this information is helpful for
investors to more easily understand our operating financial
performance. Management also believes these measures may better
enable an investor to form views of our potential financial
performance in the future. These measures have limitations as
analytical tools, and investors should not consider these measures
in isolation or as a substitute for analysis of our results
prepared in accordance with GAAP.
|
Reconciliation of
Adjusted EBITDA to Net loss applicable to
|
|
common
stockholders as it is presented on the Condensed
Consolidated
|
|
Statements of
Operations for inContact, Inc.
|
|
(in thousands -
unaudited)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
Net loss
|
$(7,419)
|
|
$(7,290)
|
|
$(9,647)
|
|
$(13,278)
|
|
Depreciation and
amortization
|
$
6,562
|
|
$
5,264
|
|
13,020
|
|
10,668
|
|
Stock-based
compensation
|
$
2,049
|
|
$
1,596
|
|
4,538
|
|
4,210
|
|
Interest income and
expense, net
|
$
1,647
|
|
$
1,710
|
|
3,256
|
|
2,144
|
|
Income tax
expense
|
$
194
|
|
$
132
|
|
(2,396)
|
|
311
|
|
Adjusted
EBITDA
|
$
3,033
|
|
$
1,412
|
|
$
8,771
|
|
$
4,055
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Consolidated Gross Profit and Margin to Consolidated Non-GAAP Gross
Profit and Margin
(in thousands -
unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
Consolidated gross
profit
|
|
|
$ 33,038
|
|
$ 26,728
|
|
$ 65,324
|
|
$ 52,558
|
|
Consolidated gross
margin
|
|
|
52%
|
|
50%
|
|
52%
|
|
50%
|
|
Add back:
|
|
|
|
|
|
|
|
|
|
|
Amortization of acquired intangibles
|
|
|
1,201
|
|
1,217
|
|
2,467
|
|
2,560
|
|
Stock-based compensation
|
|
|
285
|
|
271
|
|
553
|
|
538
|
|
Non-GAAP gross
profit
|
|
$ 34,524
|
|
$ 28,216
|
|
$ 68,344
|
|
$ 55,656
|
|
Non-GAAP gross
margin
|
|
54%
|
|
53%
|
|
54%
|
|
53%
|
|
Reconciliation of
Software Segment Gross Profit and Margin to Non-GAAP Software
Segment Gross Profit
(in thousands -
unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
Software segment
gross profit
|
|
|
$ 25,086
|
|
$ 19,692
|
|
$ 49,969
|
|
$ 38,461
|
|
Software gross
margin
|
|
|
59%
|
|
58%
|
|
60%
|
|
58%
|
|
Add back:
|
|
|
|
|
|
|
|
|
|
|
Amortization of acquired intangibles
|
|
|
1,202
|
|
1,217
|
|
2,468
|
|
2,560
|
|
Stock-based compensation
|
|
|
281
|
|
262
|
|
545
|
|
524
|
|
Non-GAAP software
gross profit
|
|
$ 26,569
|
|
$ 21,171
|
|
$ 52,982
|
|
$ 41,545
|
|
Non-GAAP software
gross margin
|
|
63%
|
|
62%
|
|
63%
|
|
62%
|
|
Reconciliation of
Consolidated Operating Expenses to Non-GAAP Consolidated Operating
Expenses
(in thousands -
unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
Consolidated
operating expenses
|
|
|
$ 38,611
|
|
$ 32,175
|
|
$ 74,105
|
|
$ 63,381
|
|
Operating expenses as
a % of total revenue
|
|
|
61%
|
|
61%
|
|
59%
|
|
61%
|
|
Subtract:
|
|
|
|
|
|
|
|
|
|
|
Amortization of acquired intangibles
|
|
|
(19)
|
|
(19)
|
|
(39)
|
|
(39)
|
|
Stock-based compensation
|
|
|
(1,763)
|
|
(1,326)
|
|
(3,985)
|
|
(3,672)
|
|
Non-GAAP operating
expenses
|
|
$ 36,829
|
|
$ 30,830
|
|
$ 70,081
|
|
$ 59,670
|
|
Non-GAAP consolidated
operating expenses, as a % of total revenue
|
|
58%
|
|
58%
|
|
56%
|
|
57%
|
|
Reconciliation of
Consolidated Net Loss to Non-GAAP Consolidated Net
Loss
|
|
(in thousands -
unaudited)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
Net loss
|
$ (7,419)
|
|
$ (7,290)
|
|
$ (9,647)
|
|
$(13,278)
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
Amortization of
acquired intangibles
|
1,221
|
|
1,236
|
|
2,506
|
|
2,599
|
|
Stock-based
compensation
|
2,049
|
|
1,596
|
|
4,538
|
|
4,210
|
|
Interest
accretion
|
1,093
|
|
1,018
|
|
2,137
|
|
1,217
|
|
Tax benefit
(1)
|
-
|
|
-
|
|
(2,666)
|
|
-
|
|
Non-GAAP Net
Loss
|
$ (3,056)
|
|
$ (3,440)
|
|
$ (3,132)
|
|
$
(5,252)
|
|
|
|
|
|
|
|
|
|
Non-GAAP basic and
diluted earnings per share
|
$
(0.05)
|
|
$
(0.06)
|
|
$
(0.05)
|
|
$
(0.09)
|
|
|
|
(1)
|
The one-time,
non-cash, $2.7 million tax benefit, associated with the acquisition
of AC2, has been eliminated in the 2016 reconciliation to enhance
comparability.
|
About inContact
inContact (NASDAQ: SAAS) is the cloud contact center software
leader, with the most complete, easiest and most reliable solution
to help organizations achieve their customer experience goals.
inContact continuously innovates in the cloud and is the only
provider to offer a complete solution that includes the customer
interaction cloud, an expert service model and the broadest partner
ecosystem. Recognized as a market leader by Gartner, IDC, Frost
& Sullivan, Ovum and DMG, inContact supports over 6 billion
interactions per year for enterprise, midmarket, government
organizations and business process outsourcers (BPOs) who operate
in multiple divisions, locations and global regions. To learn more,
visit www.incontact.com.
inContact® is the registered trademark of inContact, Inc.
Logo -
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To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/incontact-reports-second-quarter-2016-financial-results-300309543.html
SOURCE inContact, Inc.
