Delaware
(State
or Other Jurisdictionof Incorporation)
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000-30901
(Commission
File Number)
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94-3282005
(I.R.S.
Employer Identification No.)
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1521 Concord Pike (US 202), Suite 301
Wilmington, DE 19803
(Address
of Principal Executive Offices)(Zip Code)
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(650) 556-9440
(Registrant’s
Telephone Number, Including Area Code)
N/A
(Former
Name or Former Address, if Changed Since Last Report)
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Title
of each class
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Trading symbol(s)
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Name of each exchange on which registered
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Common
Stock, $0.0001 par value per share
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SPRT
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The Nasdaq Stock Market
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Exhibit No.
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Description
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Press
Release of the Company, dated November 8, 2019 (attached
herewith)
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SUPPORT.COM, INC.
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Date:
November 8, 2019
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/s/
Richard Bloom
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Richard
Bloom
President
and Chief Executive Officer
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September 30,
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December 31,
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2019 (1)
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2018 (2)
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Assets
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Current
assets:
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Cash,
cash equivalents and short-term investments
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$44,754
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$49,649
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Accounts
receivable, net
|
10,379
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12,292
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Prepaid
expenses and other current assets
|
485
|
999
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Total current assets
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55,618
|
62,940
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Property
and equipment, net
|
561
|
703
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Intangible
assets, net
|
250
|
250
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Right
of Use assets
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113
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-
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Other
assets
|
687
|
707
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Total assets
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$57,229
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$64,600
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Liabilities and Stockholders' Equity
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Current
liabilities:
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Accounts
payable and accrued compensation
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$2,432
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$3,791
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Other
accrued liabilities
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831
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978
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Accrued
legal settlement
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-
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10,000
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Short-term
lease liability
|
101
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-
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Short-term
deferred revenue
|
1,098
|
1,135
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Total current liabilities
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4,462
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15,904
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Long-term
lease liability
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12
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-
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Other
long-term liabilities
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803
|
800
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Total liabilities
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5,277
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16,704
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Stockholders'
equity:
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Common
stock
|
2
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2
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Additional
paid-in-capital
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269,042
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268,794
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Treasury
stock
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(5,297)
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(5,297)
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Accumulated
other comprehensive loss
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(2,388)
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(2,507)
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Accumulated
deficit
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(209,407)
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(213,096)
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Total stockholders' equity
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51,952
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47,896
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Total liabilities and stockholders' equity
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$57,229
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$64,600
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Three Months Ended
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Nine Months Ended
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Sept. 30, 2019 (1)
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June 30, 2019
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Sept. 30, 2018
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Sept. 30, 2019
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Sept. 30, 2018
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Revenue:
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Services
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$14,327
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$15,508
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$16,759
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$46,698
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$48,179
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Software
and other
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922
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1,188
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1,258
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3,310
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3,828
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Total revenue
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15,249
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16,696
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18,017
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50,008
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52,007
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Cost of revenue:
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Cost
of services
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10,582
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12,686
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14,412
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37,065
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42,985
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Cost
of software and other
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26
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38
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51
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119
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152
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Total cost of revenue
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10,608
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12,724
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14,463
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37,184
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43,137
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Gross
profit
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4,641
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3,972
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3,554
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12,824
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8,870
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Operating expenses:
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Research
and development
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1,132
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915
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690
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2,796
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2,082
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Sales
and marketing
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485
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438
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424
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1,315
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1,383
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General
and administrative
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1,685
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2,090
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1,800
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5,671
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5,623
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Legal
settlement
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-
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10,000
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-
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10,000
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Total operating expenses
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3,302
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3,443
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12,914
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9,782
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19,088
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Income (loss) from operations
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1,339
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529
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(9,360)
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3,042
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(10,218)
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Interest
income and other, net
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265
|
255
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241
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817
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676
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Income (loss) before income taxes
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1,604
|
784
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(9,119)
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3,859
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(9,542)
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Income tax provision (benefit)
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11
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131
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29
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170
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(24)
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Net income (loss)
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$1,593
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$653
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$(9,148)
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$3,689
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$(9,518)
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Net earnings (loss) per share
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Basic
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$0.08
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$0.03
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$(0.49)
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$0.19
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$(0.51)
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Diluted
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$0.08
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$0.03
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$(0.49)
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$0.19
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$(0.51)
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Shares used in computing per share amounts
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Basic
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19,011
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18,962
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18,805
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18,977
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18,786
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Diluted
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19,045
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19,018
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18,805
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19,026
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18,786
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