Analyst%20 Metrics 2012 Q2 Final
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- The document provides key metrics and financials for LinkedIn from Q1 2009 to Q2 2012, including members, unique visitors, page views, customers, and revenue by product line. - Members grew from 37 million in 2009 to over 173 million in Q2 2012, with quarterly growth rates averaging around 12%. Revenue increased from $23 million in 2009 to over $228 million in 2012, with the majority coming from talent solutions. - Talent solutions (hiring and marketing) made up the largest portion of revenue and grew faster than the company average, while page views and unique visitors also steadily increased over the period.
Analyst%20 Metrics 2012 Q2 Final
- 1. SELECTED COMPANY METRICS AND FINANCIALS As of 6/30/2012 FY 2009 FY 2010 FY 2011 FY 2012 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 FY09 FY10 FY11 COMPANY METRICS Members (MM) 37.3 42.0 48.0 55.1 64.2 71.8 80.6 90.4 101.5 115.8 131.2 145.0 160.6 173.9 55.1 90.4 145.0 % y/y 87% 81% 73% 71% 72% 71% 68% 64% 58% 61% 63% 60% 58% 50% 71% 64% 60% % q/q 16% 13% 14% 15% 16% 12% 12% 12% 12% 14% 13% 11% 11% 8% Comscore Unique Visitors (MM) LinkedIn Standalone 36.2 45.6 44.7 53.3 65.1 75.1 81.8 87.6 92.0 102.5 106.1 52.2 84.1 % y/y 80% 65% 83% 64% 41% 37% 30% 61% % q/q 26% -‐2% 19% 22% 15% 9% 7% 5% 11% 3% *LinkedIn Properties 113.5 % y/y % q/q Comscore Page Views (BN) LinkedIn Standalone 2.8 3.6 3.9 5.0 5.5 7.1 7.1 7.6 7.6 9.4 9.3 18.1 29.4 % y/y 98% 96% 80% 51% 39% 33% 31% 63% % q/q 30% 9% 28% 9% 29% 0% 7% 0% 24% -‐1% *LinkedIn Properties 9.4 % y/y % q/q LinkedIn Corporate Solutions Customers 1,008 1,116 1,260 1,585 1,827 2,306 2,849 3,865 4,774 6,072 7,366 9,236 10,403 12,053 1,585 3,865 9,236 % y/y 81% 107% 126% 144% 161% 163% 159% 139% 118% 99% 144% 139% % q/q 11% 13% 26% 15% 26% 24% 36% 24% 27% 21% 25% 13% 16% * LinkedIn Properties includes SlideShare as of June '12, Q2'12 measures only include one month of SlideShare REVENUE MIX BY PRODUCT Net Revenue ($MM) $ 23.2 $ 27.8 $ 29.8 $ 39.3 $ 44.7 $ 54.9 $ 61.8 $ 81.7 $ 93.9 $ 121.0 $ 139.5 $ 167.7 $ 188.5 $ 228.2 $ 120.1 $ 243.1 $ 522.2 % y/y 61% 45% 44% 60% 92% 98% 107% 108% 110% 120% 126% 105% 101% 89% 52% 102% 115% % q/q -‐6% 19% 7% 32% 14% 23% 13% 32% 15% 29% 15% 20% 12% 21% Hiring Solutions ($MM) $ 6.3 $ 8.1 $ 9.4 $ 12.4 $ 16.9 $ 21.7 $ 27.3 $ 36.0 $ 46.3 $ 58.6 $ 71.0 $ 84.9 $ 102.6 $ 121.6 $ 36.1 $ 101.9 $ 260.9 % y/y 84% 107% 102% 130% 170% 168% 191% 190% 174% 170% 160% 136% 121% 107% 108% 182% 156% % q/q 17% 29% 15% 32% 37% 28% 26% 32% 29% 27% 21% 20% 21% 19% Marketing Solutions ($MM) $ 6.1 $ 8.7 $ 9.0 $ 14.5 $ 14.2 $ 18.3 $ 18.8 $ 27.9 $ 27.7 $ 38.6 $ 40.1 $ 49.5 $ 48.0 $ 63.1 $ 38.3 $ 79.3 $ 155.8 % y/y 61% 48% 61% 35% 133% 110% 110% 93% 95% 111% 113% 77% 73% 64% 47% 107% 97% % q/q -‐43% 43% 3% 61% -‐2% 29% 3% 48% -‐1% 39% 4% 24% -‐3% 32% Premium Subscriptions ($MM) $ 10.9 $ 10.9 $ 11.4 $ 12.5 $ 13.6 $ 14.9 $ 15.7 $ 17.8 $ 19.9 $ 23.9 $ 28.4 $ 33.3 $ 37.9 $ 43.5 $ 45.7 $ 61.9 $ 105.5 % y/y 51% 18% 10% 46% 25% 36% 37% 42% 47% 60% 81% 87% 91% 82% 29% 35% 70% % q/q 27% 0% 5% 9% 9% 10% 6% 13% 12% 20% 19% 17% 14% 15% Percent of Total: Hiring Solutions 27% 29% 32% 31% 38% 40% 44% 44% 49% 48% 51% 50% 54% 53% 30% 42% 50% Marketing Solutions 26% 32% 30% 37% 32% 33% 31% 34% 30% 32% 29% 30% 26% 28% 32% 33% 30% Premium Subscriptions 47% 39% 38% 32% 30% 27% 25% 22% 21% 20% 20% 20% 20% 19% 38% 25% 20% Page 1 of 4
- 2. SELECTED COMPANY METRICS AND FINANCIALS As of 6/30/2012 FY 2009 FY 2010 FY 2011 FY 2012 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 FY09 FY10 FY11 REVENUE MIX BY GEOGRAPHY Net Revenue ($MM) $ 23.2 $ 27.8 $ 29.8 $ 39.3 $ 44.7 $ 54.9 $ 61.8 $ 81.7 $ 93.9 $ 121.0 $ 139.5 $ 167.7 $ 188.5 $ 228.2 $ 120.1 $ 243.1 $ 522.2 % y/y 61% 45% 44% 60% 92% 98% 107% 108% 110% 120% 126% 105% 101% 89% 52% 102% 115% % q/q -‐6% 19% 7% 32% 14% 23% 13% 32% 15% 29% 15% 20% 12% 21% US $ 17.4 $ 20.4 $ 22.3 $ 28.4 $ 32.5 $ 40.3 $ 45.7 $ 58.4 $ 65.1 $ 82.7 $ 94.0 $ 112.0 $ 120.8 $ 147.3 $ 88.5 $ 177.0 $ 353.8 % y/y 53% 34% 37% 55% 87% 98% 105% 106% 100% 105% 106% 92% 86% 78% 45% 100% 100% % q/q -‐5% 17% 9% 27% 15% 24% 13% 28% 11% 27% 14% 19% 8% 22% EMEA $ 4.6 $ 5.8 $ 5.7 $ 8.8 $ 8.9 $ 11.0 $ 11.4 $ 16.1 $ 19.7 $ 25.9 $ 28.9 $ 35.5 $ 42.8 $ 50.1 $ 24.9 $ 47.5 $ 110.0 % y/y 94% 89% 100% 84% 120% 135% 154% 120% 117% 94% 91% 132% % q/q 27% -‐2% 54% 2% 23% 4% 41% 22% 31% 12% 23% 21% 17% APAC $ 0.6 $ 0.8 $ 0.9 $ 1.0 $ 1.6 $ 1.7 $ 2.4 $ 3.7 $ 4.5 $ 6.3 $ 8.6 $ 10.1 $ 12.8 $ 15.9 $ 3.3 $ 9.4 $ 29.6 % y/y 191% 104% 163% 265% 173% 281% 259% 170% 185% 152% 185% 213% % q/q 44% 13% 12% 60% 1% 46% 56% 20% 40% 37% 17% 26% 24% Other Americas $ 0.6 $ 0.7 $ 0.9 $ 1.2 $ 1.6 $ 2.0 $ 2.3 $ 3.4 $ 4.6 $ 6.1 $ 7.9 $ 10.1 $ 12.0 $ 15.0 $ 3.4 $ 9.2 $ 28.8 % y/y 147% 172% 158% 189% 189% 214% 251% 197% 161% 145% 170% 213% % q/q 12% 21% 35% 35% 23% 15% 51% 35% 34% 29% 28% 18% 25% Percent of Total US 75% 73% 75% 72% 73% 73% 74% 71% 69% 68% 67% 67% 64% 65% 74% 73% 68% International 25% 27% 25% 28% 27% 27% 26% 29% 31% 32% 33% 33% 36% 35% 26% 27% 32% EMEA 20% 21% 19% 22% 20% 20% 18% 20% 21% 22% 21% 21% 23% 22% 20% 19% 21% APAC 2% 3% 3% 3% 4% 3% 4% 5% 5% 5% 6% 6% 7% 7% 3% 4% 5% Other Americas 3% 3% 3% 3% 3% 4% 4% 4% 5% 5% 6% 6% 6% 7% 3% 4% 6% REVENUE MIX BY CHANNEL Net Revenue ($MM) $ 23.2 $ 27.8 $ 29.8 $ 39.3 $ 44.7 $ 54.9 $ 61.8 $ 81.7 $ 93.9 $ 121.0 $ 139.5 $ 167.7 $ 188.5 $ 228.2 $ 120.1 $ 243.1 $ 522.2 % y/y 61% 45% 44% 60% 92% 98% 107% 108% 110% 120% 126% 105% 101% 89% 52% 102% 115% % q/q -‐6% 19% 7% 32% 14% 23% 13% 32% 15% 29% 15% 20% 12% 21% Field Sales ($MM) $ 11.7 $ 15.0 $ 15.0 $ 22.3 $ 23.7 $ 30.2 $ 33.6 $ 48.3 $ 50.6 $ 66.7 $ 74.5 $ 95.8 $ 101.5 $ 129.4 $ 64.0 $ 135.7 $ 287.6 % y/y 108% 68% 56% 70% 102% 102% 123% 116% 114% 121% 122% 99% 100% 94% 72% 112% 112% % q/q -‐11% 28% 0% 48% 6% 28% 11% 44% 5% 32% 12% 29% 6% 28% Online Sales ($MM) $ 11.5 $ 12.8 $ 14.8 $ 17.0 $ 21.0 $ 24.7 $ 28.2 $ 33.4 $ 43.3 $ 54.3 $ 65.0 $ 71.9 $ 87.0 $ 98.8 $ 56.1 $ 107.4 $ 234.6 % y/y 31% 26% 34% 48% 82% 93% 91% 97% 106% 120% 130% 115% 101% 82% 35% 91% 118% % q/q 0% 11% 15% 15% 24% 17% 14% 18% 29% 25% 20% 11% 21% 14% Percent of Total: Field Sales 50% 54% 50% 57% 53% 55% 54% 59% 54% 55% 53% 57% 54% 57% 53% 56% 55% Online Sales 50% 46% 50% 43% 47% 45% 46% 41% 46% 45% 47% 43% 46% 43% 47% 44% 45% GAAP P&L GAAP ($MM) Net revenue $ 23.2 $ 27.8 $ 29.8 $ 39.3 $ 44.7 $ 54.9 $ 61.8 $ 81.7 $ 93.9 $ 121.0 $ 139.5 $ 167.7 $ 188.5 $ 228.2 $ 120.1 $ 243.1 $ 522.2 Cost of revenue 5.6 6.0 6.4 7.8 8.3 9.8 11.8 14.8 16.8 18.4 22.1 24.2 25.1 30.4 25.9 44.8 81.4 Sales & marketing 5.3 5.9 6.3 9.3 10.5 13.1 14.8 20.6 29.4 36.0 46.1 53.2 65.9 75.7 26.8 59.0 164.7 Product development 8.5 8.7 10.0 12.1 12.1 14.8 17.2 21.0 24.7 30.4 35.0 42.1 47.1 60.1 39.4 65.1 132.2 General & administrative 3.9 4.0 4.9 6.6 6.7 7.7 9.1 11.6 13.6 16.7 20.1 24.5 24.9 31.0 19.5 35.1 74.9 Depreciation & amortization 2.5 2.8 3.1 3.5 3.9 4.2 4.8 6.6 8.2 9.6 11.6 13.8 14.9 17.5 11.9 19.6 43.1 Income (loss) from operations $ (2.6) $ 0.2 $ (0.9) $ (0.0) $ 3.2 $ 5.3 $ 4.0 $ 7.1 $ 1.3 $ 9.9 $ 4.6 $ 10.0 $ 10.6 $ 13.5 $ (3.4) $ 19.6 $ 25.8 Other income (expense), net 0.1 0.3 (0.0) (0.1) (0.3) (0.4) 0.4 (0.3) 0.4 0.0 (1.8) (1.6) 0.2 (0.7) 0.2 (0.6) (2.9) Provision (benefit) for income taxes 0.4 (0.1) 0.1 0.4 1.0 0.7 0.5 1.4 (0.3) 5.4 4.4 1.5 5.8 10.0 0.8 3.6 11.0 Net income (loss) $ (2.9) $ 0.6 $ (1.1) $ (0.6) $ 1.8 $ 4.3 $ 4.0 $ 5.3 $ 2.1 $ 4.5 $ (1.6) $ 6.9 $ 5.0 $ 2.8 $ (4.0) $ 15.4 $ 11.9 Net income (loss) attributable to common shares $ (2.9) $ -‐ $ (1.1) $ (0.6) $ -‐ $ 0.9 $ 0.9 $ 1.6 $ -‐ $ 4.5 $ (1.6) $ 6.9 $ 5.0 $ 2.8 $ (4.0) $ 3.4 $ 11.9 Basic shares outstanding (MM) 41.4 40.5 41.3 41.6 42.0 42.2 42.5 43.1 43.7 69.4 96.3 98.5 102.2 104.2 41.2 42.4 77.2 Diluted shares outstanding (MM) 41.4 41.3 41.3 41.6 44.2 45.6 46.6 49.4 51.5 103.1 96.3 108.6 111.3 112.3 41.2 46.5 104.1 Basic GAAP EPS attributable to common shares ($0.07) $0.00 ($0.03) ($0.01) $0.00 $0.02 $0.02 $0.04 $0.00 $0.07 ($0.02) $0.07 $0.05 $0.03 ($0.10) $0.08 $0.15 Diluted GAAP EPS attributable to common shares ($0.07) $0.00 ($0.03) ($0.01) $0.00 $0.02 $0.02 $0.03 $0.00 $0.04 ($0.02) $0.06 $0.04 $0.03 ($0.10) $0.07 $0.11 Page 2 of 4
- 3. SELECTED COMPANY METRICS AND FINANCIALS As of 6/30/2012 FY 2009 FY 2010 FY 2011 FY 2012 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 FY09 FY10 FY11 GAAP TO NON-‐GAAP RECONCILIATIONS PRE-‐TAX RECONCILIATIONS Cost of Revenue $ 5.6 $ 6.0 $ 6.4 $ 7.8 $ 8.3 $ 9.8 $ 11.8 $ 14.8 $ 16.8 $ 18.4 $ 22.1 $ 24.2 $ 25.1 $ 30.4 $ 25.9 $ 44.8 $ 81.4 Stock-‐based compensation 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.3 0.5 0.7 0.8 1.2 0.4 0.4 1.7 Non-‐GAAP Cost of Revenue 5.5 6.0 6.3 7.7 8.2 9.8 11.7 14.7 16.6 18.1 21.6 23.5 24.3 29.1 25.5 44.4 79.8 % net revenue 24% 21% 21% 20% 18% 18% 19% 18% 18% 15% 16% 14% 13% 13% 21% 18% 15% GAAP Sales & Marketing 5.3 5.9 6.3 9.3 10.5 13.1 14.8 20.6 29.4 36.0 46.1 53.2 65.9 75.7 26.8 59.0 164.7 Stock-‐based compensation 0.2 0.1 0.2 0.2 0.3 0.3 0.3 0.4 1.1 2.1 2.6 2.3 2.9 4.3 0.7 1.2 8.1 Non-‐GAAP Sales & Marketing 5.2 5.8 6.2 9.1 10.2 12.8 14.5 20.3 28.3 33.9 43.5 51.0 63.0 71.4 26.2 57.8 156.6 % net revenue 22% 21% 21% 23% 23% 23% 23% 25% 30% 28% 31% 30% 33% 31% 22% 24% 30% GAAP Product & Development 8.5 8.7 10.0 12.1 12.1 14.8 17.2 21.0 24.7 30.4 35.0 42.1 47.1 60.1 39.4 65.1 132.2 Stock-‐based compensation 0.5 0.5 0.6 0.7 0.7 0.7 0.8 1.1 1.6 2.9 3.7 5.4 5.9 10.6 2.3 3.2 13.6 Non-‐GAAP Product Development 8.0 8.2 9.4 11.4 11.5 14.1 16.4 19.9 23.1 27.5 31.3 36.6 41.2 49.5 37.1 61.9 118.6 % net revenue 35% 30% 32% 29% 26% 26% 27% 24% 25% 23% 22% 22% 22% 22% 31% 25% 23% GAAP General & Administrative 3.9 4.0 4.9 6.6 6.7 7.7 9.1 11.6 13.6 16.7 20.1 24.5 24.9 31.0 19.5 35.1 74.9 Stock-‐based compensation 0.7 0.6 0.7 0.8 0.9 0.9 1.0 1.1 1.0 1.5 1.7 2.2 3.1 3.2 2.8 3.9 6.4 Non-‐GAAP General & Adminstrative 3.2 3.4 4.2 5.8 5.8 6.8 8.1 10.5 12.7 15.2 18.4 22.3 21.8 27.8 16.7 31.1 68.5 % net revenue 14% 12% 14% 15% 13% 12% 13% 13% 13% 13% 13% 13% 12% 12% 14% 13% 13% GAAP Income from Operations (2.6) 0.2 (0.9) (0.0) 3.2 5.3 4.0 7.1 1.3 9.9 4.6 10.0 10.6 13.5 (3.4) 19.6 25.8 Stock-‐based compensation 1.4 1.4 1.5 1.8 1.9 2.0 2.2 2.7 3.8 6.8 8.5 10.6 12.6 19.3 6.2 8.8 29.8 Amortization of intangible assets 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.7 0.8 0.9 0.8 1.2 1.3 1.9 0.2 1.0 3.6 Non-‐GAAP Operating Income (1.2) 1.6 0.6 1.9 5.2 7.3 6.4 10.5 5.9 17.6 13.9 21.8 24.5 34.7 3.0 29.4 59.2 % margin -‐5% 6% 2% 5% 12% 13% 10% 13% 6% 15% 10% 13% 13% 15% 3% 12% 11% Depreciation 2.4 2.7 3.1 3.4 3.9 4.1 4.7 5.8 7.4 8.7 10.7 12.6 13.6 15.7 11.6 18.6 39.5 ADJUSTED EBITDA RECONCILIATION GAAP Net Income (2.9) 0.6 (1.1) (0.6) 1.8 4.3 4.0 5.3 2.1 4.5 (1.6) 6.9 5.0 2.8 (4.0) 15.4 11.9 Provision (benefit) for income taxes 0.4 (0.1) 0.1 0.4 1.0 0.7 0.5 1.4 (0.3) 5.4 4.4 1.5 5.8 10.0 0.8 3.6 11.0 Other income (expense), net (0.1) (0.3) 0.0 0.1 0.3 0.4 (0.4) 0.3 (0.4) (0.0) 1.8 1.6 (0.2) 0.7 (0.2) 0.6 2.9 Depreciation & amortization 2.5 2.8 3.1 3.5 3.9 4.2 4.8 6.6 8.2 9.6 11.6 13.8 14.9 17.5 11.9 19.6 43.1 Stock-‐based compensation 1.4 1.4 1.5 1.8 1.9 2.0 2.2 2.7 3.8 6.8 8.5 10.6 12.6 19.3 6.2 8.8 29.8 Adjusted EBITDA $ 1.3 $ 4.4 $ 3.7 $ 5.3 $ 9.1 $ 11.5 $ 11.1 $ 16.3 $ 13.3 $ 26.3 $ 24.7 $ 34.4 $ 38.1 $ 50.4 $ 14.7 $ 48.0 $ 98.7 % margin 6% 16% 12% 13% 20% 21% 18% 20% 14% 22% 18% 21% 20% 22% 12% 20% 19% NON-‐GAAP NET INCOME RECONCILIATION GAAP Net Income (2.9) 0.6 (1.1) (0.6) 1.8 4.3 4.0 5.3 2.1 4.5 (1.6) 6.9 5.0 2.8 (4.0) 15.4 11.9 Stock-‐based compensation 1.4 1.4 1.5 1.8 1.9 2.0 2.2 2.7 3.8 6.8 8.5 10.6 12.6 19.3 6.2 8.8 29.8 Amortization of intangible assets 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.7 0.8 0.9 0.8 1.2 1.3 1.9 0.2 1.0 3.6 Income tax effect of non-‐GAAP adjustments 0.6 (0.5) 0.0 (0.2) 0.4 0.1 (0.3) (3.5) (1.0) (1.4) (1.1) (5.4) (2.0) (5.9) (0.1) (3.3) (8.8) Non-‐GAAP Net Income $ (0.8) $ 1.5 $ 0.5 $ 1.1 $ 4.2 $ 6.4 $ 6.0 $ 5.2 $ 5.8 $ 10.8 $ 6.6 $ 13.3 $ 16.9 $ 18.1 $ 2.3 $ 21.9 $ 36.5 % margin -‐4% 6% 2% 3% 9% 12% 10% 6% 6% 9% 5% 8% 9% 8% 2% 9% 7% NON-‐GAAP SHARE COUNT RECONCILIATION GAAP Basic Shares Outstanding (MM) 41.4 40.5 41.3 41.6 42.0 42.2 42.5 43.1 43.7 69.4 96.3 98.5 102.2 104.2 41.2 42.4 77.2 Assumed Conversion of Preferred Stock Basic 45.6 45.6 45.6 45.6 45.6 45.6 45.6 45.6 45.6 23.6 0.0 0.0 0.0 0.0 45.6 45.6 0.0 Non-‐GAAP Basic Shares Outstanding (MM) 87.0 86.1 86.9 87.3 87.6 87.9 88.2 88.7 89.4 93.0 96.3 98.5 102.2 104.2 86.8 88.1 77.2 GAAP Diluted Shares Outstanding (MM) 41.4 41.3 41.3 41.6 44.2 45.6 46.6 49.4 51.5 103.1 96.3 108.6 111.3 112.3 41.2 46.5 104.1 Assumed Conversion of Preferred Stock Diluted 45.6 45.6 45.6 45.6 45.6 45.6 45.6 45.6 45.6 0.0 0.0 0.0 0.0 0.0 45.6 45.6 0.0 Dilutive Shares under Treasury Stock Method 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.2 0.0 0.0 0.0 4.8 0.0 0.0 Non-‐GAAP Diluted Shares Outstanding (MM) 87.0 87.0 86.9 87.3 89.9 91.3 92.2 95.0 97.1 103.1 107.5 108.6 111.3 112.3 91.6 92.1 104.1 NON-‐GAAP EPS Basic Non-‐GAAP EPS ($0.01) $0.02 $0.01 $0.01 $0.05 $0.07 $0.07 $0.06 $0.06 $0.12 $0.07 $0.14 $0.17 $0.17 $0.03 $0.25 $0.47 Diluted Non-‐GAAP EPS ($0.01) $0.02 $0.01 $0.01 $0.05 $0.07 $0.07 $0.05 $0.06 $0.10 $0.06 $0.12 $0.15 $0.16 $0.03 $0.24 $0.35 Page 3 of 4
- 4. SELECTED COMPANY METRICS AND FINANCIALS As of 6/30/2012 FY 2009 FY 2010 FY 2011 FY 2012 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 FY09 FY10 FY11 BALANCE SHEET & CASH FLOWS Balance Sheet: Cash, cash equivalents & short-‐term investments $ 82.5 $ 82.0 $ 85.3 $ 90.0 $ 95.2 $ 98.8 $ 89.6 $ 93.0 $ 106.1 $ 372.1 $ 387.7 $ 577.5 $ 620.8 $ 617.1 $ 90.0 $ 93.0 $ 577.5 Property and equipment, net 20.4 21.6 24.3 25.7 29.9 39.9 48.9 56.7 65.8 83.0 105.1 114.8 123.9 152.4 25.7 56.7 114.8 Working capital 71.7 72.3 70.8 71.9 71.9 69.5 62.5 66.7 64.6 317.1 305.8 499.3 518.0 512.1 71.9 66.7 499.3 Total assets 122.7 125.5 132.1 148.6 160.3 182.3 197.0 238.2 265.3 562.5 605.1 873.7 951.4 1,139.2 148.6 238.2 873.7 Total deferred revenue 17.6 16.9 19.0 25.5 34.3 40.9 45.1 65.0 82.6 99.4 114.1 139.8 174.8 192.0 25.5 65.0 139.8 *Total stockholder's equity 91.9 94.0 95.0 97.1 101.2 108.3 115.4 124.2 134.5 396.5 404.9 625.0 656.1 783.2 97.1 124.2 625.0 Cash Flow Statement: Cash flows provided in operating activities 3.0 3.5 7.0 7.9 13.6 10.7 13.6 16.4 26.6 36.0 46.7 24.2 63.2 47.0 21.4 54.4 133.4 Purchases of property and equipment 1.1 3.3 4.4 4.5 9.0 7.9 19.3 13.8 16.2 23.4 28.7 20.7 22.1 37.6 13.3 50.0 89.0 Free cash flow $ 1.9 $ 0.2 $ 2.7 $ 3.4 $ 4.6 $ 2.8 $ (5.6) $ 2.6 $ 10.4 $ 12.6 $ 17.9 $ 3.5 $ 41.1 $ 9.4 $ 8.1 $ 4.3 $ 44.4 Cash flows used in investing activities (1.1) (3.3) (4.3) (4.3) (9.0) (7.9) (23.7) (15.0) (18.5) (43.9) (31.2) (244.9) (72.7) (131.9) (13.0) (55.6) (338.5) Cash flows provided by financing activities 0.1 (0.7) 0.7 0.9 0.6 0.8 1.1 1.9 5.0 254.3 (0.4) 193.6 12.0 29.9 1.0 4.3 452.5 * note -‐ Equity includes redeemable convertible preferred stock $ -‐ TOTAL HEADCOUNT Total Headcount 348 374 420 480 572 693 862 990 1,288 1,515 1,797 2,116 2,447 2,861 480 990 2,116 % y/y 46% 22% 18% 42% 64% 85% 105% 106% 125% 119% 108% 114% 90% 89% 42% 106% 114% % q/q 3% 7% 12% 14% 19% 21% 24% 15% 30% 18% 19% 18% 16% 17% Average Annualized Revenue per Headcount ($000s) $ 271 $ 308 $ 300 $ 350 $ 340 $ 347 $ 318 $ 353 $ 330 $ 345 $ 337 $ 343 $ 330 $ 344 $ 250 $ 246 $ 247 % y/y 2% 10% 20% 23% 25% 13% 6% 1% -‐3% 0% 6% -‐3% 0% 0% 7% -‐2% 0% % q/q -‐5% 13% -‐2% 16% -‐3% 2% -‐8% 11% -‐7% 5% -‐2% 2% -‐4% 4% Page 4 of 4