QUARTERLY RESULTS OF OPERATIONS (unaudited) |
QUARTERLY RESULTS OF OPERATIONS (unaudited)
The following tables set forth our unaudited quarterly results of operations data for the eight most recent quarters for the period ended December 31, 2015. We have prepared this information on the same basis as the consolidated statements of operations and the information includes all adjustments that we consider necessary for a fair statement of its financial position and operating results for the quarters presented. | | | | | | | | | | | | | | | | | | | | Three Months Ended | | | March 31, 2015 | | June 30, 2015 | | September 30, 2015 | | December 31, 2015 | | | (in thousands, except per share data) | Consolidated Statement of Operations Data: | | | | | | | | | Revenue, net | | | | | | | | | Direct | | $ | 36,135 |
| | $ | 34,428 |
| | $ | 33,621 |
| | $ | 33,599 |
| Partner and other | | 362,209 |
| | 353,585 |
| | 357,590 |
| | 446,671 |
| Total net revenue | | 398,344 |
| | 388,013 |
| | 391,211 |
| | 480,270 |
| Cost of goods sold | | | | | | | | | Direct | | 32,527 |
| | 31,235 |
| | 31,989 |
| | 32,326 |
| Partner and other | | 290,380 |
| | 283,121 |
| | 286,771 |
| | 364,835 |
| Total cost of goods sold | | 322,907 |
| | 314,356 |
| | 318,760 |
| | 397,161 |
| Gross profit | | 75,437 |
| | 73,657 |
| | 72,451 |
| | 83,109 |
| Operating expenses: | | | | | | | | | Sales and marketing | | 27,972 |
| | 28,087 |
| | 30,062 |
| | 38,347 |
| Technology | | 23,087 |
| | 24,059 |
| | 25,084 |
| | 26,303 |
| General and administrative | | 20,534 |
| | 19,429 |
| | 20,676 |
| | 21,548 |
| Total operating expenses | | 71,593 |
| | 71,575 |
| | 75,822 |
| | 86,198 |
| Operating income | | 3,844 |
| | 2,082 |
| | (3,371 | ) | | (3,089 | ) | Interest income | | 43 |
| | 38 |
| | 37 |
| | 37 |
| Interest expense | | (4 | ) | | (8 | ) | | (62 | ) | | (66 | ) | Other income, net | | 605 |
| | 1,163 |
| | 764 |
| | 1,102 |
| Net income (loss) before income taxes | | 4,488 |
| | 3,275 |
| | (2,632 | ) | | (2,016 | ) | Provision (benefit) for income taxes | | 1,940 |
| | 1,849 |
| | (15 | ) | | (1,879 | ) | Consolidated net income (loss) | | 2,548 |
| | 1,426 |
| | (2,617 | ) | | (137 | ) | Less: Net loss attributable to noncontrolling interests | | (191 | ) | | (242 | ) | | (546 | ) | | (247 | ) | Net income (loss) attributable to stockholders of Overstock.com, Inc. | | $ | 2,739 |
| | $ | 1,668 |
| | $ | (2,071 | ) | | $ | 110 |
| Net income (loss) per common share—basic: | | | | | | | | | Net income (loss) attributable to common shares—basic | | $ | 0.11 |
| | $ | 0.07 |
| | $ | (0.08 | ) | | $ | 0.00 |
| Weighted average common shares outstanding—basic | | 24,213 |
| | 24,306 |
| | 24,681 |
| | 25,234 |
| Net income (loss) per common share—diluted: | | | | | | | | | Net income (loss) attributable to common shares—diluted | | $ | 0.11 |
| | $ | 0.07 |
| | $ | (0.08 | ) | | $ | 0.00 |
| Weighted average common shares outstanding—diluted | | 24,390 |
| | 24,398 |
| | 24,681 |
| | 25,266 |
|
| | | | | | | | | | | | | | | | | | | | Three Months Ended | | | March 31, 2014 | | June 30, 2014 | | September 30, 2014 | | December 31, 2014 | | | (in thousands, except per share data) | Consolidated Statement of Operations Data: | | | | | | | | | Revenue, net | | | | | | | | | Direct | | $ | 38,047 |
| | $ | 33,215 |
| | $ | 33,592 |
| | $ | 42,606 |
| Partner and other | | 303,160 |
| | 299,330 |
| | 319,399 |
| | 427,754 |
| Total net revenue | | 341,207 |
| | 332,545 |
| | 352,991 |
| | 470,360 |
| Cost of goods sold | | | | | | | | | Direct | | 33,097 |
| | 29,473 |
| | 29,385 |
| | 37,298 |
| Partner and other | | 244,114 |
| | 240,447 |
| | 256,548 |
| | 347,682 |
| Total cost of goods sold | | 277,211 |
| | 269,920 |
| | 285,933 |
| | 384,980 |
| Gross profit | | 63,996 |
| | 62,625 |
| | 67,058 |
| | 85,380 |
| Operating expenses: | | | | | | | | | Sales and marketing | | 23,392 |
| | 23,543 |
| | 25,428 |
| | 37,098 |
| Technology | | 19,601 |
| | 21,408 |
| | 22,202 |
| | 23,047 |
| General and administrative | | 15,296 |
| | 15,881 |
| | 17,073 |
| | 23,527 |
| Restructuring | | (360 | ) | | — |
| | — |
| | — |
| Total operating expenses | | 57,929 |
| | 60,832 |
| | 64,703 |
| | 83,672 |
| Operating income | | 6,067 |
| | 1,793 |
| | 2,355 |
| | 1,708 |
| Interest income | | 41 |
| | 37 |
| | 36 |
| | 38 |
| Interest expense | | (7 | ) | | (12 | ) | | (11 | ) | | (9 | ) | Other income (expense), net | | 459 |
| | 524 |
| | (350 | ) | | 536 |
| Net income before income taxes | | 6,560 |
| | 2,342 |
| | 2,030 |
| | 2,273 |
| Provision for income taxes | | 2,590 |
| | 433 |
| | 413 |
| | 968 |
| Consolidated net income | | 3,970 |
| | 1,909 |
| | 1,617 |
| | 1,305 |
| Less: Net loss attributable to noncontrolling interests | | — |
| | — |
| | — |
| | (53 | ) | Net income attributable to stockholders of Overstock.com, Inc. | | $ | 3,970 |
| | $ | 1,909 |
| | $ | 1,617 |
| | $ | 1,358 |
| Net income per common share—basic: | | | | | | | | | Net income per share—basic | | $ | 0.17 |
| | $ | 0.08 |
| | $ | 0.07 |
| | $ | 0.06 |
| Weighted average common shares outstanding—basic | | 23,926 |
| | 24,009 |
| | 24,027 |
| | 24,031 |
| Net income per common share—diluted: | | | | | | | | | Net income per share—diluted | | $ | 0.16 |
| | $ | 0.08 |
| | $ | 0.07 |
| | $ | 0.06 |
| Weighted average common shares outstanding—diluted | | 24,339 |
| | 24,247 |
| | 24,283 |
| | 24,399 |
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