Exhibit 99.1

Silver Spring Networks Reports First Quarter Financial Results

Redwood City, CA – May 6, 2014 – Silver Spring Networks, Inc. (NYSE: SSNI) today announced financial results for its first quarter of 2014.

Q1 2014 Results (all comparisons made are against the prior year period)

• Non-GAAP revenue was $71.8 million, down 3%.

• GAAP revenue was $44.2 million, down 18%.

• Non-GAAP gross margin was 30.0%, as compared with 29.2% a year ago.

• GAAP gross margin was 25.9%, as compared with 18.9% a year ago.

• Non-GAAP net loss was $9.0 million, as compared with $8.4 million a year ago.

• GAAP net loss was $27.8 million, as compared with $64.4 million a year ago. GAAP net loss in the year ago quarter includes non-cash charges of $42.1 million in connection with our initial public offering.

• Cash and investments of $140.5 million and no debt.

“We made progress this quarter on our business model with strong growth in new solutions and Managed and SaaS,” said Scott Lang, Chairman, President, and Chief Executive Officer. “Despite the near-term timing delays of new customer awards, our innovative networking technology and expanding global market opportunity position us well for long term growth.”

Business Highlights (through May 6, 2014, unless otherwise stated)

• 18.7 million cumulative network endpoints delivered from inception through March 31, 2014, up 13% from a year ago.

• Working with clients that represent an incremental 24 million homes and businesses that are piloting or deploying our technology in phases.

• New solution non-GAAP revenue (distribution automation and demand side management) of $9.4M – up 74% year-over-year.

• Managed and SaaS non-GAAP revenue of $10.0 million – up 19% year-over year.

• Florida Power & Light to network 75,000 street lights – North America’s largest networked street light deployment.

Conference Call

Silver Spring will host a conference call today at 1:30 pm PT (4:30 pm ET) to review its results for the first quarter ended March 31, 2014 and its outlook for the future. During the course of this call, Silver Spring may also disclose material developments affecting its business and/or financial performance. Listeners may access the conference call live at 877-407-0832 (U.S.) or 201-689-8433 (International) or via webcast at http://ir.silverspringnet.com. A dial-in replay of the conference call will be available until May 20, 2014 and can be accessed at 877-660-6853 (domestic) or 201-612-7415 (international) passcode 13580613. An audio webcast replay of the conference call will be available for one year at http://ir.silverspringnet.com.

About Silver Spring Networks

Silver Spring Networks is a leading networking platform and solutions provider for smart energy networks. Silver Spring’s pioneering IPv6 networking platform, with over 18.5 million Silver Spring enabled devices delivered, is connecting utilities to homes and business throughout the world with the goal of achieving greater energy efficiency for the planet. Silver Spring’s innovative solutions enable utilities to gain operational efficiencies, improve grid reliability, and empower consumers to monitor and manage energy consumption. Silver Spring Networks’ customers include major utilities around the globe such as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, CPS Energy, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Progress Energy, and Singapore Power, among others. To learn more, please visit www.silverspringnet.com.

Non-GAAP and Other Financial Measures

Silver Spring believes that its results of operations under generally accepted accounting principles, or GAAP, when considered in isolation, may only provide limited insight into the performance of its business in any given period. As a result, Silver Spring manages its business, makes planning decisions, evaluates its performance and allocates resources by assessing non-GAAP measures such as non-GAAP revenue, cost of non-GAAP revenue, non-GAAP gross profit (loss), non-GAAP operating income (loss), non-GAAP net income (loss), non-GAAP earnings (loss) per share, and adjusted EBITDA, and total backlog, in addition to other financial measures presented in accordance with GAAP. Silver Spring believes that these non-GAAP and other financial measures offer valuable supplemental information regarding the performance of its business, and will help investors better understand the sales volumes, and gross margin and profitability trends, as well as the cash flow characteristics, of its business. The non-GAAP measures should not be considered in isolation from, are not a substitute for, and do not purport to be an alternative to, revenue, cost of revenue, gross profit (loss), operating loss, net loss, loss per share or any other performance measure derived in accordance with GAAP. Silver Spring may consider whether other significant non-recurring items that arise in the future should also be excluded in calculating the non-GAAP financial measures it uses.

Non-GAAP revenue represents amounts invoiced for products for which ownership, typically evidenced by title and risk of loss, has transferred or services that have been provided to the customer, and for which payment is expected to be made in accordance with normal payment terms. Non-GAAP revenue excludes amounts for undelivered products, services to be performed in the future, and amounts paid or payable to customers. Non-GAAP revenue is initially recorded as deferred revenue and is recognized as GAAP revenue when all revenue recognition criteria have been met under Silver Spring’s accounting policies as described in Silver Spring’s filings with the Securities and Exchange Commission. Silver Spring reconciles revenue to non-GAAP revenue by adding revenue to the change in deferred revenue in a given period.

Cost of non-GAAP revenue represents the cost associated with products and services that have been delivered to the customer, excluding stock-based compensation and amortization of intangibles. Cost of product shipments for which revenue is not recognized in the period incurred is recorded as deferred cost of revenue. Deferred cost of revenue is expensed in the statement of operations as cost of revenue when the corresponding revenue is recognized. Costs related to services are expensed in the period incurred. Silver Spring reconciles cost of revenue to non-GAAP cost of revenue by adding cost of revenue to the change in deferred cost of revenue, less stock-based compensation and amortization of intangibles included in cost of revenue, in a given period.

Non-GAAP gross profit (loss) is the difference between non-GAAP revenue and cost of non-GAAP revenue.

Non-GAAP operating income (loss) represents operating loss adjusted for non-GAAP revenue and cost of non-GAAP revenue and excludes expenses related to the amortization of intangible assets, legal settlements, and stock-based compensation.

Non-GAAP net income (loss) represents net loss adjusted for non-GAAP revenue and cost of non-GAAP revenue, and excludes expenses related to the amortization of intangible assets, legal settlements, stock-based compensation, changes in fair value of preferred stock warrant liabilities and embedded derivatives, and loss on extinguishment of promissory notes.

Non-GAAP earnings (loss) per share represents non-GAAP net loss divided by weighted average shares outstanding for the period.

Adjusted EBITDA is net income (loss) adjusted for changes in deferred revenue and deferred cost of revenue, other (income) expense, net, provision for income taxes, depreciation and amortization, stock-based compensation and certain other items management believes affect the comparability of operating results.

Total backlog represents future product and service billings that we expect to generate pursuant to contracts that we have entered into with our utility customers and meter manufacturers. Total backlog includes order backlog, which represents future billings for open purchase orders and other firm commitments.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding the momentum in Silver Spring Networks’ business, future growth, and future financial results. Statements including words such as “anticipate”, “believe”, “estimate” or “expect” and statements in the future tense are forward-looking statements. These forward-looking statements are preliminary estimates and expectations based on current information and are subject to business and economic risks and uncertainties that could cause actual events or actual future results to differ materially from the expectations set forth in the forward-looking statements. Important factors that could cause results to differ materially from the statements herein include: timing around customer decisions and deployment pace; dependence on a limited number of customers and key suppliers; general economic risks; specific economic risks in different geographies and among different industries; failure to maintain or increase renewals and increase business from existing customers; uncertainties around continued success in sales growth and market share gains; lengthy sales cycles with no assurances that a prospective customer will select Silver Spring’s products and services; amounts included in backlog may not result in billings or revenue; adverse publicity about, or consumer or political opposition to, the smart grid; security breaches involving smart grid products or services; the ability to integrate technology into third-party devices and Silver Spring’s relationship with third-party manufacturers; execution and customer adoption risks related to new product introductions and innovation; the ability to attract and retain personnel, including members of Silver Spring’s management team; changes in strategy; technological changes that make Silver Spring’s products and services less competitive; competition, particularly from larger companies with more resources than Silver Spring; risks related to retention of management; international business uncertainties; the ability to acquire and integrate other businesses; and other risk factors set forth from time to time in Silver Spring’s filings with the SEC, copies of which are available free of charge at the SEC’s website at www.sec.gov. All forward-looking statements in this press release reflect Silver Spring’s expectations as of May 6, 2014. Silver Spring undertakes no obligation, and expressly disclaims any obligation, to update any forward-looking statements in this press release in light of new information or future events. In addition, the financial results set forth in this press release are estimates based on information currently available to Silver Spring.

For additional information, please contact:

Tricia Gugler

Investor Relations

650-839-4504

tgugler@silverspringnet.com

Noel Hartzell

Global Communications

650-839-4184

nhartzell@silverspringnet.com

SILVER SPRING NETWORKS

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

	Three Months Ended March 31,
	2014			2013
Revenue:
Product revenue	$	28,227		$	41,720
Service revenue		16,002			11,983
Net revenue		44,229			53,703
Cost of revenue:
Product cost of revenue		17,915			25,743
Service cost of revenue		14,870			17,826
Total cost of revenue		32,785			43,569
Gross profit		11,444			10,134
Operating expenses:
Research and development		17,725			25,119
Sales and marketing		9,223			10,453
General and administrative		11,667			14,136
Total operating expenses		38,615			49,708
Operating income (loss)		(27,171	)		(39,574	)
Other income (expense)
Interest income (expense), net		(37	)		(1,052	)
Conversion of promissory notes and remeasurement of warrants and derivatives		—			(23,676	)
Other income (expense), net		(37	)		(24,728	)
Income (loss) before provision for income taxes		(27,208	)		(64,302	)
Provision (benefit) for income taxes		599			64
Net income (loss)		(27,807	)		(64,366	)
Deemed dividend to convertible preferred stockholders		—			(105,000	)
Net income (loss) attributable to common stockholders	$	(27,807	)	$	(169,366	)
Net income (loss) per share
Basic net income (loss) per share attributable to common stockholders	$	(0.58	)	$	(16.18	)
Diluted net income (loss) per share attributable to common stockholders	$	(0.58	)	$	(16.18	)
Weighted average number of shares used in computation
Basic		47,693			10,469
Diluted		47,693			10,469

Non-GAAP results (in thousands, except per share data)

The following tables reconcile the Company's net income (loss) and income (loss) per share as presented in its unaudited Condensed Consolidated Statements of Operations and prepared in accordance with GAAP to its non-GAAP net income (loss) and non-GAAP income (loss) per share.

	Three Months Ended March 31,
	2014			2013
Net income (loss)	$	(27,807	)	$	(64,366	)
Change in deferred revenue, net of foreign currency translation		27,621			20,068
Change in deferred cost of revenue, net of foreign currency translation		(20,257	)		(15,423	)
Amortization of intangibles in cost of revenue		48			48
Conversion of promissory notes and remeasurement of warrants and derivatives		—			23,676
Convertible notes accretion / interest		—			935
Stock-based compensation		11,432			26,668
Non-GAAP net income (loss)	$	(8,963	)	$	(8,394	)
Non-GAAP income (loss) per share
Basic	$	(0.19	)	$	(0.80	)
Diluted	$	(0.19	)	$	(0.80	)
Weighted average number of shares used in computation
Basic		47,693			10,469
Diluted		47,693			10,469

SILVER SPRING NETWORKS, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except par values)

	March 31, 2014			December 31, 2013 (a)
ASSETS
Current assets:
Cash and cash equivalents	$	78,492		$	82,596
Short-term investments		62,003			63,256
Accounts receivable		61,423			69,724
Inventory		4,859			4,350
Deferred cost of revenue		33,875			37,460
Prepaid expenses and other current assets		5,920			4,758
Total current assets		246,572			262,144
Property and equipment, net		12,526			12,364
Deferred cost of revenue, non-current		262,614			238,663
Deferred tax assets, non-current		1,202			1,613
Other long-term assets		1,505			1,567
TOTAL ASSETS	$	524,419		$	516,351
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Accounts payable	$	28,455		$	31,317
Accrued liabilities		21,784			21,282
Deferred revenue		96,038			111,293
Current portion of capital lease obligations		1,604			1,615
Deferred tax liability		1,176			1,176
Total current liabilities		149,057			166,683
Deferred revenue, non-current		456,290			413,360
Other liabilities		16,161			14,426
Stockholders’ deficit:
Preferred stock, $0.001 par value, 10,000 shares authorized and no shares issued or outstanding as of March 31, 2014 and December 31, 2013		—			—
Common stock and additional paid-in capital, $0.001 par value; 1,000,000 shares authorized, 48,194 and 47,384 shares issued and outstanding as of March 31, 2014 and December 31, 2013		547,916			539,013
Accumulated other comprehensive income (loss)		63			130
Accumulated deficit		(645,068	)		(617,261	)
Total stockholders’ deficit		(97,089	)		(78,118	)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	524,419		$	516,351

(a) Derived from audited consolidated financial statements

SILVER SPRING NETWORKS

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

(In thousands)

	Three Months Ended March 31,
	2014			2013
OPERATING ACTIVITIES
Net income (loss)	$	(27,807	)	$	(64,366	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		1,466			1,677
Stock-based compensation		11,432			26,668
Conversion of promissory notes and remeasurement of warrants and derivatives		—			23,676
Other non-cash adjustments		630			980
Changes in assets and liabilities:
Accounts receivable		8,301			6,539
Inventory		(596	)		(4,564	)
Prepaid expenses and other current assets		(1,158	)		(1,121	)
Deferred cost of revenue		(20,366	)		(15,410	)
Other long-term assets		14			2,322
Accounts payable		(3,124	)		(1,637	)
Accrued liabilities		(1,908	)		(1,887	)
Customer deposits		107			(241	)
Deferred revenue		27,675			20,121
Other liabilities		2,074			(1,670	)
Net cash provided by (used in) operating activities		(3,260	)		(8,913	)
INVESTING ACTIVITIES
Proceeds from sales and maturity of short-term investments		18,466			—
Purchase of short-term investments		(17,354	)		—
Purchases of property and equipment		(1,742	)		(1,323	)
Net cash provided by (used in) investing activities		(630	)		(1,323	)
FINANCING ACTIVITIES
Payment upon termination of preferred stock warrants of a related party		—			(12,000	)
Proceeds from initial public offering, net of offering costs		—			86,238
Proceeds from private placement of common stock with a related party		—			12,000
Payments on capital lease obligations		(356	)		(453	)
Proceeds from issuance of common stock, net of repurchases		4,555			14
Taxes paid related to net share settlement of equity awards		(4,413	)		(5,855	)
Net cash provided by (used in) financing activities		(214	)		79,944
Net increase in cash and cash equivalents		(4,104	)		69,708
Cash and cash equivalents – beginning of period		82,596			72,646
Cash and cash equivalents – end of period	$	78,492		$	142,354

SILVER SPRING NETWORKS, INC.

UNAUDITED RECONCILIATION OF NET REVENUE BETWEEN GAAP AND NON-GAAP

(in thousands, except percentages)

	Q1			Q2			Q3			Q4			Q1			YoY%
	CY13			CY13			CY13			CY13			CY14			Change
TYPE
GAAP net revenue
Product net revenue	$	41,720		$	47,996		$	56,650		$	77,944		$	28,227			–32	%
Service net revenue
Managed services and SaaS		4,559			37,508			9,835			8,159			7,797			71	%
Professional services		7,424			18,006			5,996			11,061			8,205			11	%
Total service net revenue	$	11,983		$	55,514		$	15,831		$	19,220		$	16,002			34	%
Total GAAP net revenue	$	53,703		$	103,510		$	72,481		$	97,164		$	44,229			–18	%
% Product		78	%		46	%		78	%		80	%		64	%
% Service		22	%		54	%		22	%		20	%		36	%
Change in deferred net revenue
Change in deferred product revenue	$	14,702		$	17,905		$	16,017		$	(7,054	)	$	24,006
Change in deferred service revenue
Managed services and SaaS		3,825			(28,245	)		16			1,000			2,219
Professional services		1,541			(6,719	)		5,702			(1,462	)		1,396
Total change in deferred service revenue	$	5,366		$	(34,964	)	$	5,718		$	(462	)	$	3,615
Total change in deferred revenue	$	20,068		$	(17,059	)	$	21,735		$	(7,516	)	$	27,621
Non-GAAP revenue
Product net revenue	$	56,422		$	65,901		$	72,667		$	70,890		$	52,233			–7	%
Service net revenue
Managed services and SaaS		8,384			9,263			9,851			9,159			10,016			19	%
Professional services		8,965			11,287			11,698			9,599			9,601			7	%
Total service net revenue	$	17,349		$	20,550		$	21,549		$	18,758		$	19,617			13	%
Total non-GAAP net revenue	$	73,771		$	86,451		$	94,216		$	89,648		$	71,850			–3	%
% Product		76	%		76	%		77	%		79	%		73	%
% Service		24	%		24	%		23	%		21	%		27	%
SOLUTION
GAAP net revenue
Advanced metering infrastructure	$	45,149		$	97,598		$	66,774		$	91,842		$	40,023			–11	%
New solutions		8,554			5,912			5,707			5,322			4,206			–51	%
Total GAAP net revenue	$	53,703		$	103,510		$	72,481		$	97,164		$	44,229			–18	%
% Advanced metering infrastructure		84	%		94	%		92	%		95	%		90	%
% New solutions		16	%		6	%		8	%		5	%		10	%
Change in deferred net revenue
Advanced metering infrastructure	$	23,219		$	(21,380	)	$	19,244		$	(9,532	)	$	22,422
New solutions		(3,151	)		4,321			2,491			2,016			5,199
Total change in deferred net revenue	$	20,068		$	(17,059	)	$	21,735		$	(7,516	)	$	27,621
Non-GAAP net revenue
Advanced metering infrastructure	$	68,368		$	76,218		$	86,018		$	82,310		$	62,445			–9	%
New solutions		5,403			10,233			8,198			7,338			9,405			74	%
Total Non-GAAP net revenue	$	73,771		$	86,451		$	94,216		$	89,648		$	71,850			–3	%
% Advanced metering infrastructure		93	%		88	%		91	%		92	%		87	%
% New solutions		7	%		12	%		9	%		8	%		13	%
GEOGRAPHY
GAAP net revenue
United States	$	50,747		$	94,516		$	68,562		$	71,602		$	21,843			–57	%
International		2,956			8,994			3,919			25,562			22,386			657	%
Total GAAP net revenue	$	53,703		$	103,510		$	72,481		$	97,164		$	44,229			–18	%
% United States		94	%		91	%		95	%		74	%		49	%
% International		6	%		9	%		5	%		26	%		51	%
Change in deferred net revenue
United States	$	8,839		$	(21,032	)	$	15,289		$	1,369		$	41,256
International		11,229			3,973			6,446			(8,885	)		(13,635	)
Total change in deferred net revenue	$	20,068		$	(17,059	)	$	21,735		$	(7,516	)	$	27,621
Non-GAAP net revenue
United States	$	59,586		$	73,484		$	83,851		$	72,971		$	63,099			6	%
International		14,185			12,967			10,365			16,677			8,751			–38	%
Total non-GAAP net revenue	$	73,771		$	86,451		$	94,216		$	89,648		$	71,850			–3	%
% United States		81	%		85	%		89	%		81	%		88	%
% International		19	%		15	%		11	%		19	%		12	%

8

SILVER SPRING NETWORKS, INC.

UNAUDITED SUPPLEMENTAL FINANCIAL INFORMATION

(in thousands, except percentages and headcount)

CASH FLOW DATA		Q1 CY13			Q2 CY13			Q3 CY13			Q4 CY13			Q1 CY14		YoY% Change
Operating cash flow	$	(8,913	)	$	(14,048	)	$	21,131		$	1,844		$	(3,260	)	63	%
Operating cash flow – TTM		(19,847	)		(19,158	)		12,172			14			5,667		129	%
BALANCE SHEET DATA
Cash, cash equivalents and short-term investments	$	142,354			124,970			143,431			145,852		$	140,495		–1	%
Deferred net revenue
End of quarter		528,176			510,722			532,546			524,653			552,328
Less: Beginning of quarter		(508,056	)		(528,176	)		(510,722	)		(532,546	)		(524,653	)
Foreign currency translation adjustment		(52	)		395			(89	)		377			(54	)
Change in deferred net revenue, net of foreign currency translation	$	20,068		$	(17,059	)	$	21,735		$	(7,516	)	$	27,621
Deferred cost of revenue
End of quarter	$	260,572			268,236			275,101			276,123		$	296,489
Less: Beginning of quarter		(245,163	)		(260,572	)		(268,236	)		(275,101	)		(276,123	)
Foreign currency translation adjustment		14			99			(23	)		(11	)		(109	)
Change in deferred cost of revenue, net of foreign currency translation	$	15,423		$	7,763		$	6,842		$	1,011		$	20,257
STOCK-BASED COMPENSATION
Cost of goods sold	$	6,724		$	2,531		$	1,376		$	1,644		$	2,692		–60	%
Research and development		9,544			3,607			1,905			2,277			3,155		–67	%
Sales and marketing		3,346			1,526			950			1,238			2,045		–39	%
General and administrative		7,054			3,181			2,759			2,842			3,540		–50	%
Total	$	26,668		$	10,845		$	6,990		$	8,001		$	11,432		–57	%
EMPLOYEES		572			589			608			602			617		8	%
HOMES & BUSINESSES
Cumulative network endpoints delivered*		16,507			17,008			17,509			18,184			18,710		13	%

* Endpoints refer to communication modules in electric meters

SILVER SPRING NETWORKS

UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In thousands, except per share data and percentages)

QUARTERLY RECONCILIATION OF RESULTS		Q1 CY13			Q2 CY13			Q3 CY13			Q4 CY13			Q1 CY14		YOY % Change
Net revenue
GAAP net revenue	$	53,703		$	103,510		$	72,481		$	97,164		$	44,229		–18	%
Change in deferred revenue, net of foreign currency translation		20,068			(17,059	)		21,735			(7,516	)		27,621
Non-GAAP net revenue	$	73,771		$	86,451		$	94,216		$	89,648		$	71,850		–3	%
Gross profit
GAAP gross profit	$	10,134		$	48,250		$	23,226		$	33,744		$	11,444		13	%
Change in deferred revenue, net of foreign currency translation		20,068			(17,059	)		21,735			(7,516	)		27,621
Change in deferred cost of revenue, net of foreign currency translation		(15,423	)		(7,763	)		(6,842	)		(1,011	)		(20,257	)
Amortization of intangibles in cost of revenue		48			48			48			48			48
Stock-based compensation		6,724			2,531			1,376			1,644			2,692
Non-GAAP gross profit	$	21,551		$	26,007		$	39,543		$	26,909		$	21,548		0	%
GAAP gross margin % (as a % of GAAP net revenue)		19	%		47	%		32	%		35	%		26	%
Non-GAAP gross margin % (as a % of non-GAAP net revenue)		29	%		30	%		42	%		30	%		30	%
Operating income (loss)
GAAP operating income (loss)	$	(39,574	)	$	9,982		$	(12,115	)	$	(48	)	$	(27,171	)	31	%
Change in deferred revenue, net of foreign currency translation		20,068			(17,059	)		21,735			(7,516	)		27,621
Change in deferred cost of revenue, net of foreign currency translation		(15,423	)		(7,763	)		(6,842	)		(1,011	)		(20,257	)
Amortization of intangibles in cost of revenue		48			48			48			48			48
Stock-based compensation		26,668			10,845			6,990			8,001			11,432
Legal settlements		—			—			—			250			—
Non-GAAP operating income (loss)	$	(8,213	)	$	(3,947	)	$	9,816		$	(276	)	$	(8,327	)	–1	%
GAAP operating margin % (as a % of GAAP revenue)		–74	%		10	%		–17	%		0	%		–61	%
Non-GAAP operating margin % (as a % of non-GAAP net revenue)		–11	%		–5	%		10	%		0	%		–12	%
Adjusted EBITDA
GAAP net income (loss)	$	(64,366	)	$	9,470		$	(12,269	)	$	358		$	(27,807	)	57	%
Change in deferred revenue, net of foreign currency translation		20,068			(17,059	)		21,735			(7,516	)		27,621
Change in deferred cost of revenue, net of foreign currency translation		(15,423	)		(7,763	)		(6,842	)		(1,011	)		(20,257	)
Other (income) expense, net		24,728			184			54			(138	)		37
Provision for income taxes		64			328			100			(268	)		599
Depreciation and amortization		1,677			1,689			1,624			1,656			1,466
Stock-based compensation		26,668			10,845			6,990			8,001			11,432
Legal settlements		—			—			—			250			—
Adjusted EBITDA	$	(6,584	)	$	(2,306	)	$	11,392		$	1,332		$	(6,909	)	–5	%
Net income (loss)
GAAP net income (loss)	$	(64,366	)	$	9,470		$	(12,269	)	$	358		$	(27,807	)	57	%
Change in deferred revenue, net of foreign currency translation		20,068			(17,059	)		21,735			(7,516	)		27,621
Change in deferred cost of revenue, net of foreign currency translation		(15,423	)		(7,763	)		(6,842	)		(1,011	)		(20,257	)
Amortization of intangibles in cost of revenue		48			48			48			48			48
Convertible notes accretion / interest		935			—			—			—			—
Conversion of promissory notes and remeasurement of warrants and derivatives		23,676			—			—			—			—
Stock-based compensation		26,668			10,845			6,990			8,001			11,432
Legal settlements		—			—			—			250			—
Non-GAAP net income (loss)	$	(8,394	)	$	(4,459	)	$	9,662		$	130		$	(8,963	)	–7	%
GAAP net margin % (as a % of GAAP revenue)		–120	%		9	%		–17	%		0	%		–63	%
Non-GAAP net margin % (as a % of non-GAAP net revenue)		–11	%		–5	%		10	%		0	%		–12	%
GAAP income (loss) per share
Basic	$	(16.18	)*	$	0.20		$	(0.26	)	$	0.01		$	(0.58	)
Diluted	$	(16.18	)*	$	0.19		$	(0.26	)	$	0.01		$	(0.58	)
Weighted average number of shares used in computation
Basic		10,469			46,599			46,729			47,198			47,693
Diluted		10,469			48,995			46,729			49,603			47,693
* GAAP income (loss) per share is based on net loss attributable to common stockholders
Non-GAAP income (loss) per share
Basic	$	(0.80	)	$	(0.10	)	$	0.21		$	0.00		$	(0.19	)
Diluted	$	(0.80	)	$	(0.10	)	$	0.19		$	0.00		$	(0.19	)
Weighted average number of shares used in computation
Basic		10,469			46,599			46,729			47,198			47,693
Diluted		10,469			46,599			49,620			49,603			47,693

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