Exhibit 99.1

Silver Spring Networks Reports Third Quarter 2015 Financial Results

$0.10 non-GAAP Earnings Per Share on $75 million Top-Line

51% Growth in non-GAAP Gross Profit

29% Growth in Endpoints Delivered

$4 Million in Positive Cash Flow from Operations

Redwood City, CA – November 3, 2015 – Silver Spring Networks, Inc. (NYSE: SSNI) today announced financial results for its third quarter ended September 30, 2015.

Third Quarter Results (all comparisons made are against the prior year period, unless otherwise stated)

• Non-GAAP revenue $74.7 million, up 5%.

• GAAP revenue $69.5 million, up 148%.

• Non-GAAP gross margin 44%, up 13 points.

• GAAP gross margin 47%, up 42 points.

• Non-GAAP net income $4.9 million versus a net loss of ($7.0) million.

• GAAP net loss ($0.6) million versus ($37.3) million.

• Non-GAAP earnings per share $0.10 versus ($0.14) loss per share.

• GAAP loss per share ($0.01) versus ($0.77) loss per share.

• $121.9 million net cash and short-term investments balance, on $4.3 million in cash flow from operations.

“We had another great quarter, expanding our footprint by delivering over 800,000 endpoints, achieving record gross margins, and generating solid cash flow,” said Scott Lang, Executive Chairman. “Our third quarter results demonstrate the strength of our business model and the leadership position we have built over the past decade.”

“I am excited to join Silver Spring Networks,” said Mike Bell, President and CEO. My first few months as CEO have reinforced my view of the strength of Silver Spring’s technology platform, business model and established leadership position at some of the world’s leading utilities and most iconic cities. I see significant potential for continued innovation and growth in our core smart grid and smart city markets, and longer term look to leverage our technology and platform into the broader Internet of Things opportunity.”

Business Highlights (through November 3, 2015, unless otherwise stated):

• Delivered record 44% non-GAAP gross margin performance in the third quarter, due to growth, favorable product mix and manufacturing efficiencies.

• Selected by Halifax, Nova Scotia Canada, to deploy our smart street light solution to network and control 43,000 LED luminaires over its 400,000 residents and over 12,000 square mile geographic area.

• Expanded smart cities opportunity through an agreement with Acuity Brands, to jointly develop an intelligent lighting platform for utilities, cities and large campus operators.

• Consumers Energy of Michigan launched its innovative consumer engagement and energy efficiency program, offering advanced capabilities to nearly 3 million residential electric and natural gas customers, on Silver Spring’s CustomerIQ Suite.

• AusNet Services successfully connected their first installations of Silver Spring-powered advanced metering just 5 months after contract signing.

• Unveiled several new innovative products, including SLV6, our next generation smart city control and management platform with more than 100 new features to expand support for smart city deployments and create more value for existing street light networks, and Operations Optimizer, the next generation of the flagship solution from Detectent that supports AMI Operations, Grid Operations, Revenue Assurance and Customer Programs.

• 22.3 million cumulative network endpoints delivered from inception through September 30, 2015, up 13% from a year ago.

Conference Call

Silver Spring will host a conference call today at 1:15 pm PT (4:15 pm ET) to review its results for the Third quarter ended September 30, 2015 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 November 23, 2015 and can be accessed at 877-660-6853 (domestic) or 201-612-7415 (international) passcode 13622294. 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 22.3 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, recurring non-GAAP revenue, recurring non-GAAP revenue per endpoint, cost of non-GAAP revenue, non-GAAP gross profit (loss), non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP income (loss) per share, 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), gross margin, operating loss, net income (loss), net income (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 then recognized as revenue when all revenue recognition criteria has 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.

Recurring non-GAAP revenue is non-GAAP revenue from managed services and SaaS, as well as customer support and other service offerings. Recurring non-GAAP revenue is primarily recurring in nature and includes managed services, hosting and software maintenance, and support fees, as well as one-time managed services and SaaS set up fees. Customer support and other services are provided to customers outside of

managed services and SaaS offerings, and are also recurring in nature. Silver Spring reconciles recurring GAAP revenue to recurring non-GAAP revenue by adding revenue to the change in deferred revenue in a given period.

Recurring non-GAAP revenue per endpoint represents a trailing twelve-month recurring non-GAAP revenue per cumulative endpoint shipped from inception to date.

Cost of non-GAAP revenue represents the cost associated with products and services that have been delivered to the customer, excluding stock-based compensation, amortization of intangibles and acquisition-related charges. 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 cost of non-GAAP revenue by adding cost of revenue and the change in deferred cost of revenue, less stock-based compensation, amortization of intangibles and acquisition-related charges, 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 gross margin is non-GAAP gross profit (loss) as a percentage of non-GAAP revenue.

Non-GAAP operating income (loss) represents operating income (loss) adjusted for non-GAAP revenue and cost of non-GAAP revenue and excludes expenses related to the amortization of intangible assets, stock-based compensation, acquisition-related charges, restructuring and legal settlements. Non-GAAP operating margin is non-GAAP operating income (loss) as a percentage of non-GAAP revenue.

Non-GAAP net income (loss) represents net income (loss) adjusted for changes in deferred revenue and deferred cost of revenue, and excludes expenses related to the amortization of intangible assets, stock-based compensation, acquisition-related charges, income tax benefit related to acquisitions, restructuring and legal settlements.

Non-GAAP income (loss) per share represents non-GAAP net income (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, (benefit) provision for income taxes, depreciation and amortization, stock-based compensation, acquisition-related charges, restructuring, legal settlements and certain other items management believes affect the comparability of operating results.

Total backlog represents future product and service billings that Silver Spring expects to generate pursuant to contracts entered into with its 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 deployments; future innovation; 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; receipt by our customers of required regulatory approvals; 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, including our new fifth generation networking platform and products; 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; 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 November 3, 2015. 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 preliminary financial results set forth in this press release are estimates based on information currently available to Silver Spring.

For additional information, please contact:

Mark McKechnie

Investor Relations

650-839-4664

mmckechnie@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 September 30,						Nine Months Ended September 30,
	2015			2014			2015		2014
Revenue:
Product revenue	$	50,093		$	16,321		$	209,839	$	69,299
Service revenue		19,412			11,720			80,473		44,578
Net revenue		69,505			28,041			290,312		113,877
Cost of revenue:
Product cost of revenue		21,377			10,791			118,527		42,120
Service cost of revenue		15,141			15,947			47,387		45,598
Total cost of revenue		36,518			26,738			165,914		87,718
Gross profit		32,987			1,303			124,398		26,159
Operating expenses:
Research and development		15,837			16,986			47,581		52,053
Sales and marketing		7,900			10,248			26,109		28,325
General and administrative		9,305			9,601			31,889		33,156
Restructuring		339			1,888			1,611		1,888
Total operating expenses		33,381			38,723			107,190		115,422
Operating (loss) income		(394	)		(37,420	)		17,208		(89,263	)
Other (expense) income, net		(99	)		7			263		55
(Loss) income before income taxes		(493	)		(37,413	)		17,471		(89,208	)
(Provision) benefit for income taxes		(129	)		140			637		(463	)
Net (loss) income	$	(622	)	$	(37,273	)	$	18,108	$	(89,671	)
Net (loss) income per share:
Basic	$	(0.01	)	$	(0.77	)	$	0.36	$	(1.86	)
Diluted	$	(0.01	)	$	(0.77	)	$	0.35	$	(1.86	)
Weighted average shares used to compute net (loss) income per share:
Basic		50,188			48,551			49,789		48,189
Diluted		50,188			48,551			51,257		48,189

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

The following tables reconcile the Company’s net (loss) income and net (loss) income 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 net income (loss) per share.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Net (loss) income	$	(622	)	$	(37,273	)	$	18,108		$	(89,671	)
Change in deferred revenue, net of foreign currency translation		5,192			42,847			(83,376	)		92,465
Change in deferred cost of revenue, net of foreign currency translation		(6,712	)		(25,244	)		40,292			(62,302	)
Amortization of intangibles		421			299			1,252			395
Stock-based compensation		5,853			10,476			21,537			31,470
Acquisition-related charges		559			—			2,045			—
Income tax benefit related to Detectent acquisition		(114	)		—			(1,128	)		—
Restructuring		339			1,888			1,611			1,888
Legal settlements		—			—			—			(100	)
Non-GAAP net income (loss)	$	4,916		$	(7,007	)	$	341		$	(25,855	)
Non-GAAP net income (loss) per share:
Basic	$	0.10		$	(0.14	)	$	0.01		$	(0.54	)
Diluted	$	0.10		$	(0.14	)	$	0.01		$	(0.54	)
Weighted average shares used to compute Non-GAAP net income (loss) per share:
Basic		50,188			48,551			49,789			48,189
Diluted		51,713			48,551			51,257			48,189

SILVER SPRING NETWORKS, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

	September 30, 2015			December 31, 2014 (a)
ASSETS
Current assets:
Cash and cash equivalents	$	63,455		$	60,457
Short-term investments		58,460			60,339
Accounts receivable		44,125			54,740
Inventory		3,761			6,722
Deferred cost of revenue		196,602			29,585
Deferred tax assets		357			5,278
Prepaid expenses and other current assets		9,596			5,146
Total current assets		376,356			222,267
Property and equipment, net		12,326			12,860
Goodwill and intangible assets		14,885			8,221
Deferred cost of revenue, non-current		96,128			303,445
Deferred tax assets, non-current		25,033			354
Other long-term assets		5,088			1,047
Total assets	$	529,816		$	548,194
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Accounts payable	$	28,083		$	27,530
Deferred revenue		320,241			91,688
Deferred tax liability		24,879			249
Accrued and other liabilities		34,257			24,421
Total current liabilities		407,460			143,888
Deferred revenue, non-current		205,759			517,905
Deferred tax liability, non-current		—			5,146
Other liabilities		15,850			15,074
Total liabilities		629,069			682,013
Total stockholders’ deficit		(99,253	)		(133,819	)
Total liabilities and stockholders’ deficit	$	529,816		$	548,194

(a) Derived from audited consolidated financial statements

SILVER SPRING NETWORKS

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

(In thousands)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
OPERATING ACTIVITIES
Net (loss) income	$	(622	)	$	(37,273	)	$	18,108		$	(89,671	)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Deferred taxes		172			11			(935	)		917
Depreciation and amortization		1,990			1,771			5,892			4,704
Stock-based compensation		5,853			10,476			21,537			31,470
Other non-cash adjustments		230			386			354			511
Changes in assets and liabilities:
Accounts receivable		(2,568	)		(9,791	)		11,073			1,795
Inventory		810			56			3,043			(161	)
Prepaid expenses and other assets		(1,396	)		924			(4,192	)		(2,590	)
Contingent consideration related to Detectent acquisition held in escrow		—			—			(4,000	)		—
Deferred cost of revenue		(6,686	)		(25,175	)		40,308			(62,510	)
Accounts payable		2,239			237			(131	)		(3,165	)
Customer deposits		(1,307	)		(71	)		151			33
Deferred revenue		4,841			42,310			(84,190	)		92,413
Accrued and other liabilities		716			(405	)		6,412			3,865
Net cash provided by (used in) operating activities		4,272			(15,734	)		13,430			(22,389	)
INVESTING ACTIVITIES
Payments for business acquisition, net of cash and cash equivalents acquired		—			—			(7,098	)		(8,750	)
Proceeds from sales of available-for-sale investments		4,086			7,151			11,486			42,459
Proceeds from maturities of available-for-sale investments		1,500			—			9,250			6,750
Purchases of available-for-sale investments		(7,287	)		(7,120	)		(18,910	)		(46,621	)
Purchases of property and equipment		(1,617	)		(524	)		(3,529	)		(4,222	)
Net cash used in investing activities		(3,318	)		(493	)		(8,801	)		(10,384	)
FINANCING ACTIVITIES
Payments on capital lease obligations		(238	)		(397	)		(994	)		(1,145	)
Proceeds from issuance of common stock, net of repurchases		1,619			2,099			3,655			6,846
Taxes paid related to net share settlement of equity awards		(456	)		(147	)		(3,968	)		(5,410	)
Net cash provided by (used in) financing activities		925			1,555			(1,307	)		291
Effect of exchange rate changes on cash and cash equivalents		(184	)		—			(324	)		—
Net increase (decrease) in cash and cash equivalents		1,695			(14,672	)		2,998			(32,482	)
Cash and cash equivalents - beginning of period		61,760			64,786			60,457			82,596
Cash and cash equivalents - end of period	$	63,455		$	50,114		$	63,455		$	50,114

SILVER SPRING NETWORKS, INC.

UNAUDITED RECONCILIATION OF NET REVENUE BETWEEN GAAP AND NON-GAAP

(in thousands, except percentages)

	Q3 2014			Q4 2014			Q1 2015			Q2 2015			Q3 2015			YoY% Change
TYPE
GAAP net revenue:
Product net revenue	$	16,321		$	60,034		$	105,035		$	54,711		$	50,093			207	%
Service net revenue
Managed services and SaaS (a)		7,546			10,569			12,974			10,608			11,223			49	%
Professional services (a)		4,174			6,808			25,631			11,848			8,189			96	%
Total service net revenue		11,720			17,377			38,605			22,456			19,412			66	%
Total GAAP net revenue	$	28,041		$	77,411		$	143,640		$	77,167		$	69,505			148	%
% Product		58	%		78	%		73	%		71	%		72	%
% Service		42	%		22	%		27	%		29	%		28	%
Change in deferred net revenue:
Change in deferred product revenue	$	33,238		$	(9,991	)	$	(64,034	)	$	(10,015	)	$	1,785
Change in deferred service revenue:
Managed services and SaaS		3,960			984			(419	)		2,387			1,397
Professional services		5,649			1,962			(16,088	)		(399	)		2,010
Total change in deferred service revenue		9,609			2,946			(16,507	)		1,988			3,407
Total change in deferred revenue	$	42,847		$	(7,045	)	$	(80,541	)	$	(8,027	)	$	5,192
Non-GAAP revenue:
Product net revenue		49,559			50,043			41,001			44,696			51,878			5	%
Service net revenue:
Managed services and SaaS (a)		11,506			11,553			12,555			12,995			12,620			10	%
Professional services (a)		9,823			8,770			9,543			11,449			10,199			4	%
Total service net revenue		21,329			20,323			22,098			24,444			22,819			7	%
Total non-GAAP net revenue	$	70,888		$	70,366		$	63,099		$	69,140		$	74,697			5	%
% Product		70	%		71	%		65	%		65	%		69	%
% Service		30	%		29	%		35	%		35	%		31	%
RECURRING REVENUE PER ENDPOINT
Recurring GAAP revenue (TTM) (a)	$	32,987		$	35,220		$	39,673		$	41,697		$	45,374
Changes in deferred revenue, net of foreign currency translations		9,688			9,284			6,851			6,912			4,349
Recurring non-GAAP revenue (TTM) (a)	$	42,675		$	44,504		$	46,524		$	48,609		$	49,723
Cumulative network endpoints delivered		19,714			20,266			20,814			21,506			22,321
Recurring GAAP revenue per endpoint delivered (a)	$	1.67		$	1.74		$	1.91		$	1.94		$	2.03			21	%
Recurring non-GAAP revenue per endpoint delivered (a)	$	2.16		$	2.20			2.24			2.26		$	2.23			3	%
SOLUTION
GAAP net revenue
Advanced metering infrastructure	$	21,417		$	72,456		$	112,865		$	66,907		$	60,149			181	%
New solutions		6,624			4,955			30,775			10,260			9,356			41	%
Total GAAP net revenue	$	28,041		$	77,411		$	143,640		$	77,167		$	69,505			148	%
% Advanced metering infrastructure		76	%		94	%		79	%		87	%		87	%
% New solutions		24	%		6	%		21	%		13	%		13	%
Change in deferred net revenue
Advanced metering infrastructure	$	39,828		$	(12,441	)	$	(64,828	)	$	(10,976	)	$	3,586
New solutions		3,019			5,396			(15,713	)		2,949			1,606
Total change in deferred net revenue	$	42,847		$	(7,045	)	$	(80,541	)	$	(8,027	)	$	5,192
Non-GAAP net revenue
Advanced metering infrastructure	$	61,245		$	60,015		$	48,037		$	55,931		$	63,735			4	%
New solutions		9,643			10,351			15,062			13,209			10,962			14	%
Total Non-GAAP net revenue	$	70,888		$	70,366		$	63,099		$	69,140		$	74,697			5	%
% Advanced metering infrastructure		86	%		85	%		76	%		81	%		85	%
% New solutions		14	%		15	%		24	%		19	%		15	%
GEOGRAPHY
GAAP net revenue
United States		15,700		$	30,017			122,582			72,360		$	53,113			238	%
International		12,341			47,394			21,058			4,807			16,392			33	%
Total GAAP net revenue	$	28,041		$	77,411		$	143,640		$	77,167		$	69,505			148	%
% United States		56	%		39	%		85	%		94	%		76	%
% International		44	%		61	%		15	%		6	%		24	%
Change in deferred net revenue
United States	$	48,248		$	29,176		$	(66,533	)	$	(17,955	)	$	12,467
International		(5,401	)		(36,221	)		(14,008	)		9,928			(7,275	)
Total change in deferred net revenue	$	42,847		$	(7,045	)	$	(80,541	)	$	(8,027	)	$	5,192
Non-GAAP net revenue
United States	$	63,948		$	59,193		$	56,049		$	54,405		$	65,580			3	%
International		6,940			11,173			7,050			14,735			9,117			31	%
Total non-GAAP net revenue	$	70,888		$	70,366		$	63,099		$	69,140		$	74,697			5	%
% United States		90	%		84	%		89	%		79	%		88	%
% International		10	%		16	%		11	%		21	%		12	%

(a) Certain amounts have been reclassified in 2014 from Professional services to Managed services and SaaS related to product support which is recurring in nature to conform to current period presentation.

SILVER SPRING NETWORKS, INC.

UNAUDITED SUPPLEMENTAL FINANCIAL INFORMATION

(in thousands, except percentages and headcount)

	Q3 2014			Q4 2014			Q1 2015			Q2 2015			Q3 2015			YoY% Change
CASH FLOW DATA
Operating cash flow	$	(15,734	)	$	13,624		$	(455	)	$	9,613		$	4,272			127	%
Operating cash flow - TTM		(20,545	)		(8,765	)		(5,960	)		7,048			27,054			232	%
BALANCE SHEET DATA
Cash, cash equivalents and short-term investments	$	110,466		$	120,796		$	111,215		$	118,555		$	121,915			10	%
Deferred net revenue
End of quarter		617,416			609,593			529,984			521,176			526,000
Less: Beginning of quarter		(575,106	)		(617,416	)		(609,593	)		(529,984	)		(521,176	)
Foreign currency translation adjustment and other		537			778			(932	)		781			368
Change in deferred net revenue, net of foreign currency translation and other	$	42,847		$	(7,045	)	$	(80,541	)	$	(8,027	)	$	5,192
Deferred cost of revenue
End of quarter	$	338,633		$	333,030		$	300,524		$	286,044		$	292,730
Less: Beginning of quarter		(313,458	)		(338,633	)		(333,030	)		(300,524	)		(286,044	)
Foreign currency translation adjustment		69			68			(10	)		(8	)		26
Change in deferred cost of revenue, net of foreign currency translation	$	25,244		$	(5,535	)	$	(32,516	)	$	(14,488	)	$	6,712
STOCK-BASED COMPENSATION
Cost of goods sold	$	2,770		$	218		$	1,723		$	2,209		$	1,197			-57	%
Research and development		3,042			785			2,180			2,832			1,771			-42	%
Sales and marketing		1,783			479			1,238			1,287			914			-49	%
General and administrative		2,881			909			1,882			2,333			1,971			-32	%
	$	10,476		$	2,391		$	7,023		$	8,661		$	5,853			-44	%
EMPLOYEES		589			576			623			640			645			10	%
HOMES & BUSINESSES
Cumulative network endpoints delivered *		19,714			20,266			20,814			21,506			22,321			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)

	Q3 2014			Q4 2014			Q1 2015			Q2 2015			Q3 2015			YOY% Change
QUARTERLY RECONCILIATION OF RESULTS
Net revenue
GAAP net revenue	$	28,041		$	77,411		$	143,640		$	77,167		$	69,505			148	%
Change in deferred revenue, net of foreign currency translation		42,847			(7,045	)		(80,541	)		(8,027	)		5,192
Non-GAAP net revenue	$	70,888		$	70,366		$	63,099		$	69,140		$	74,697			5	%
Gross profit
GAAP gross profit	$	1,303		$	30,178		$	71,455		$	19,956		$	32,987			2432	%
Change in deferred revenue, net of foreign currency translation		42,847			(7,045	)		(80,541	)		(8,027	)		5,192
Change in deferred cost of revenue, net of foreign currency translation		(25,244	)		5,535			32,516			14,488			(6,712	)
Amortization of intangible assets		182			140			262			260			260
Stock-based compensation		2,770			218			1,723			2,209			1,197
Acquisition-related charges (a)		—			—			11			60			14
Non-GAAP gross profit	$	21,858		$	29,026		$	25,426		$	28,946		$	32,938			51	%
GAAP gross margin % (as a % of GAAP net revenue)		5	%		39	%		50	%		26	%		47	%
Non-GAAP gross margin % (as a % of non-GAAP net revenue)		31	%		41	%		40	%		42	%		44	%
Operating (loss) income
GAAP operating (loss) income	$	(37,420	)	$	1,392		$	34,141		$	(16,539	)	$	(394	)		99	%
Change in deferred revenue, net of foreign currency translation		42,847			(7,045	)		(80,541	)		(8,027	)		5,192
Change in deferred cost of revenue, net of foreign currency translation		(25,244	)		5,535			32,516			14,488			(6,712	)
Amortization of intangible assets		299			219			409			422			421
Stock-based compensation		10,476			2,391			7,023			8,661			5,853
Acquisition-related charges (a)		—			—			735			751			559
Restructuring		1,888			(99	)		194			1,078			339
Non-GAAP operating (loss) income	$	(7,154	)	$	2,393		$	(5,523	)	$	834		$	5,258			173	%
GAAP operating margin % (as a % of GAAP revenue)		-133	%		2	%		24	%		-21	%		-1	%
Non-GAAP operating margin % (as a % of non-GAAP net revenue)		-10	%		3	%		-9	%		1	%		7	%
Adjusted EBITDA
GAAP net (loss) income	$	(37,273	)	$	501		$	34,905		$	(16,175	)	$	(622	)		98	%
Change in deferred revenue, net of foreign currency translation		42,847			(7,045	)		(80,541	)		(8,027	)		5,192
Change in deferred cost of revenue, net of foreign currency translation		(25,244	)		5,535			32,516			14,488			(6,712	)
Other (income) expense, net		(7	)		(68	)		(288	)		(74	)		99
(Benefit) provision for income taxes		(140	)		959			(476	)		(290	)		129
Depreciation and amortization		1,771			1,763			1,949			1,953			1,990
Stock-based compensation		10,476			2,391			7,023			8,661			5,853
Acquisition-related charges (a)		—			—			735			751			559
Restructuring		1,888			(99	)		194			1,078			339
Adjusted EBITDA	$	(5,682	)	$	3,937		$	(3,983	)	$	2,365		$	6,827			220	%
Net (loss) income
GAAP net (loss) income	$	(37,273	)	$	501		$	34,905		$	(16,175	)	$	(622	)		98	%
Change in deferred revenue, net of foreign currency translation		42,847			(7,045	)		(80,541	)		(8,027	)		5,192
Change in deferred cost of revenue, net of foreign currency translation		(25,244	)		5,535			32,516			14,488			(6,712	)
Amortization of intangible assets		299			219			409			422			421
Stock-based compensation		10,476			2,391			7,023			8,661			5,853
Acquisition-related charges (a)		—			—			735			751			559
Income tax benefit related to Detectent acquisition		—			—			(890	)		(124	)		(114	)
Restructuring		1,888			(99	)		194			1,078			339
Non-GAAP net (loss) income	$	(7,007	)	$	1,502		$	(5,649	)	$	1,074		$	4,916			170	%
GAAP net margin % (as a % of GAAP revenue)		-133	%		1	%		24	%		-21	%		-1	%
Non-GAAP net margin % (as a % of non-GAAP net revenue)		-10	%		2	%		-9	%		2	%		7	%
GAAP net (loss) income per share
Basic	$	(0.77	)	$	0.01		$	0.71		$	(0.32	)	$	(0.01	)
Diluted	$	(0.77	)	$	0.01		$	0.69		$	(0.32	)	$	(0.01	)
Weighted average number of shares used in computation
Basic		48,551			48,929			49,306			49,862			50,188
Diluted		48,551			50,191			50,899			49,862			50,188
Non-GAAP net (loss) income per share
Basic	$	(0.14	)	$	0.03		$	(0.11	)	$	0.02		$	0.10
Diluted	$	(0.14	)	$	0.03		$	(0.11	)	$	0.02		$	0.10
Weighted average number of shares used in computation
Basic		48,551			48,929			49,306			49,862			50,188
Diluted		48,551			50,191			49,306			51,390			51,713

(a) Acquisition-related charges in 2014 were not included.

SILVER SPRING NETWORKS, INC.

RECONCILIATION OF GAAP TO NON-GAAP MEASURES

(in thousands, except percentages)

	Three Months Ended September 30, 2015
	GAAP			Change in Deferred Revenue and Deferred Cost of Revenue (b)			Stock-based Compensation			Amortization of Intangible Assets			Acquisition- Related Costs			Non-GAAP
Product revenue	$	50,093		$	1,785		$	—		$	—		$	—		$	51,878
Service revenue
Managed services and SaaS		11,223			1,397			—			—			—			12,620
Professional services		8,189			2,010			—			—			—			10,199
Total service net revenue	$	19,412		$	3,407		$	—		$	—		$	—		$	22,819
Net revenue	$	69,505		$	5,192		$	—		$	—		$	—		$	74,697
Product cost of revenue	$	21,377		$	6,712		$	(252	)	$	(260	)	$	—		$	27,577
Service cost of revenue
Managed services and SaaS		8,086			—			(438	)		—			(14	)		7,634
Professional services		7,055			—			(507	)		—			—			6,548
Total service cost of revenue	$	15,141		$	—		$	(945	)	$	—		$	(14	)	$	14,182
Total cost of revenue	$	36,518		$	6,712		$	(1,197	)	$	(260	)	$	(14	)	$	41,759
Gross profit	$	32,987		$	(1,520	)	$	1,197		$	260		$	14		$	32,938
Product gross margin %		57.3	%		-11.5	%		0.5	%		0.5	%		—			46.8	%
Service gross margin %
Managed services and SaaS gross margin %		28.0	%		8.0	%		3.5	%		—			0.1	%		39.5	%
Professional services gross margin %		13.8	%		17.0	%		5.0	%		—			—			35.8	%
Total service gross margin %		22.0	%		11.6	%		4.1	%		—			0.1	%		37.9	%
Total gross margin %		47.5	%		-5.3	%		1.6	%		0.3	%		0.0	%		44.1	%

	Three Months Ended September 30, 2014
	GAAP			Change in Deferred Revenue and Deferred Cost of Revenue (b)			Stock-based Compensation			Amortization of Intangible Assets			Acquisition- Related Costs		Non-GAAP
Product revenue	$	16,321		$	33,238		$	—		$	—		$	—	$	49,559
Service revenue
Managed services and SaaS (a)		7,546			3,960			—			—			—		11,506
Professional services (a)		4,174			5,649			—			—			—		9,823
Total service net revenue	$	11,720		$	9,609		$	—		$	—		$	—	$	21,329
Net revenue	$	28,041		$	42,847		$	—		$	—		$	—	$	70,888
Product cost of revenue	$	10,791		$	25,244		$	(840	)	$	(182	)	$	—	$	35,013
Service cost of revenue
Managed services and SaaS (a)		6,677			—			(325	)		—			—		6,352
Professional services (a)		9,270			—			(1,605	)		—			—		7,665
Total service cost of revenue	$	15,947		$	—		$	(1,930	)	$	—		$	—	$	14,017
Total cost of revenue	$	26,738		$	25,244		$	(2,770	)	$	(182	)	$	—	$	49,030
Gross profit	$	1,303		$	17,603		$	2,770		$	182		$	—	$	21,858
Product gross margin %		33.9	%		-6.6	%		1.7	%		0.3	%		—		29.3	%
Service gross margin %
Managed services and SaaS gross margin % (a)		11.5	%		30.5	%		2.8	%		—			—		44.8	%
Professional services gross margin % (a)		-122.1	%		127.7	%		16.3	%		—			—		22.0	%
Total service gross margin %		-36.1	%		61.3	%		9.0	%		0.0	%		—		34.3	%
Total gross margin %		4.6	%		22.0	%		3.9	%		0.3	%		—		30.8	%

(a) Certain amounts have been reclassified in 2014 from Professional services to Managed services and SaaS related to product support which is recurring in nature to conform to current period presentation.

(b) Amounts presented net of foreign currency translation.

SILVER SPRING NETWORKS, INC.

RECONCILIATION OF GAAP TO NON-GAAP MEASURES

(in thousands, except percentages)

	Nine Months Ended September 30, 2015
	GAAP			Change in Deferred Revenue and Deferred Cost of Revenue (b)			Stock-based Compensation			Amortization of Intangible Assets			Acquisition- Related Costs			Non- GAAP
Product revenue	$	209,839		$	(72,264	)	$	—		$	—		$	—		$	137,575
Service revenue
Managed services and SaaS		34,805			3,365			—			—			—			38,170
Professional services		45,668			(14,477	)		—			—			—			31,191
Total service net revenue	$	80,473		$	(11,112	)	$	—		$	—		$	—		$	69,361
Net revenue	$	290,312		$	(83,376	)	$	—		$	—		$	—		$	206,936
Product cost of revenue	$	118,527		$	(40,292	)	$	(1,039	)	$	(782	)	$	—		$	76,414
Service cost of revenue
Managed services and SaaS		24,071			—			(1,680	)		—			(85	)		22,306
Professional services		23,316			—			(2,410	)		—			—			20,906
Total service cost of revenue	$	47,387		$	—		$	(4,090	)	$	—		$	(85	)	$	43,212
Total cost of revenue	$	165,914		$	(40,292	)	$	(5,129	)	$	(782	)	$	(85	)	$	119,626
Gross profit	$	124,398		$	(43,084	)	$	5,129		$	782		$	85		$	87,310
Product gross margin %		43.5	%		-0.4	%		0.8	%		0.6	%		—			44.5	%
Service gross margin %
Managed services and SaaS gross margin %		30.8	%		6.1	%		4.4	%		—			0.2	%		41.6	%
Professional services gross margin %		48.9	%		-23.7	%		7.7	%		—			—			33.0	%
Total service gross margin %		41.1	%		-9.4	%		5.9	%		—			0.1	%		37.7	%
Total gross margin %		42.8	%		-3.6	%		2.5	%		0.4	%		0.0	%		42.2	%

	Nine Months Ended September 30, 2014
	GAAP			Change in Deferred Revenue and Deferred Cost of Revenue (b)			Stock-based Compensation			Amortization of Intangible Assets			Acquisition- Related Costs		Non- GAAP
Product revenue	$	69,299		$	74,682		$	—		$	—		$	—	$	143,981
Service revenue
Managed services and SaaS (a)		24,651			8,300			—			—			—		32,951
Professional services (a)		19,927			9,483			—			—			—		29,410
Total service net revenue	$	44,578		$	17,783		$	—		$	—		$	—	$	62,361
Net revenue	$	113,877		$	92,465		$	—		$	—		$	—	$	206,342
Product cost of revenue	$	42,120		$	62,302		$	(1,914	)	$	(278	)	$	—	$	102,230
Service cost of revenue
Managed services and SaaS (a)		19,769			—			(992	)		—			—		18,777
Professional services (a)		25,829			—			(4,486	)		—			—		21,343
Total service cost of revenue	$	45,598		$	—		$	(5,478	)	$	—		$	—	$	40,120
Total cost of revenue	$	87,718		$	62,302		$	(7,392	)	$	(278	)	$	—	$	142,350
Gross profit	$	26,159		$	30,163		$	7,392		$	278		$	—	$	63,992
Product gross margin %		39.2	%		-11.7	%		1.3	%		0.2	%		—		29.0	%
Service gross margin %
Managed services and SaaS gross margin % (a)		19.8	%		20.2	%		3.0	%		—			—		43.0	%
Professional services gross margin % (a)		-29.6	%		41.8	%		15.3	%		—			—		27.4	%
Total service gross margin %		-2.3	%		29.2	%		8.8	%		—			—		35.7	%
Total gross margin %		23.0	%		4.3	%		3.6	%		0.1	%		—		31.0	%

(a) Certain amounts have been reclassified in 2014 from Professional services to Managed services and SaaS related to product support which is recurring in nature to conform to current period presentation.

(b) Amounts presented net of foreign currency translation.