| · |
Strong growth trajectory continues with second quarter revenue increasing 41% y/y to $146.1 million and collections increasing 37% y/y to $159.9 million
|
| · |
Increased free cash flow in the second quarter to our highest quarterly amount ever, $23.9 million, up 37% y/y
|
| · |
Results driven by strong cohort performance and continued increases in conversion and retention as users of all types adopt enhanced and new products
|
| · |
Raised outlook for 2018 reflecting continued strong development momentum and cohort performance to drive top line growth and free cash flow
|
|
Three months ended
June 30,
|
||||||||||||||||
|
$ in thousands
|
2017
|
2018
|
Y/Y growth
|
Prior Q2 2018 Outlook
|
||||||||||||
|
Revenue
|
$
|
103,522
|
$
|
146,132
|
41
|
%
|
$
|
144,000 - 145,000
|
||||||||
|
Collections
|
$
|
117,121
|
$
|
159,895
|
37
|
%
|
$
|
158,000 - 159,000
|
||||||||
|
Operating Income (Loss)
|
$
|
(10,563
|
)
|
$
|
(6,507
|
)
|
NA
|
|||||||||
|
Non-GAAP Operating Income
|
$
|
3,516
|
$
|
12,939
|
268
|
%
|
||||||||||
|
Net Cash Provided by Operating Activities
|
$
|
19,651
|
$
|
27,268
|
39
|
%
|
||||||||||
|
Free Cash Flow
|
$
|
17,412
|
$
|
23,857
|
37
|
%
|
||||||||||
| · |
Revenue in the second quarter of 2018 was $146.1 million, a 41% increase over the same period last year. Under ASC 605, second quarter revenue would have been $144 million, a 39% increase over last year
|
| · |
Collections in the second quarter of 2018 were $159.9 million, a 37% increase over the prior year period
|
| · |
Gross margin on a GAAP basis in the second quarter of 2018 was 79%, compared to 83% for the second quarter of 2017; non-GAAP gross margin in the second quarter of 2018, calculated as non-GAAP gross profit as a percent of revenue, was 80%, compared to 84% for the second quarter of 2017
|
| o |
Under ASC 605, second quarter 2018 GAAP gross margin as a percent of revenue would have also been 79% and non-GAAP gross margin as a percent of revenue would have also been 80%
|
| · |
Results in the second quarter include the impact of the change from net (agent) to gross (principal) accounting related to the amended terms of our partnership agreement with Google announced earlier this year. As previously stated, this impact is an approximately $30 million benefit to FY 2018 revenue and collections and approximately $7-8 million each quarter in 2018. This impact also has resulted in a year-over-year decrease in our GAAP and non-GAAP gross margin
|
| · |
GAAP net loss in the second quarter of 2018 was $(5.6) million, or $(0.12) per share, compared to a net loss of $(14.3) million, or $(0.31) per share, for the second quarter of 2017. Under ASC 605, second quarter 2018 GAAP net loss would have been $(6.9) million
|
| · |
Non-GAAP net income in the second quarter of 2018 was $13.8 million, or $0.29 per share, compared to a non-GAAP net loss of $(0.2) million, or $(0.00) per share for the second quarter of 2017. Under ASC 605, second quarter 2018 non-GAAP net income would have been $12.6 million
|
| · |
Net cash provided by operating activities in the second quarter of 2018 was $27.3 million, while capital expenditures totaled $3.4 million, leading to free cash flow of $23.9 million, compared to $17.4 million of free cash flow in the second quarter of 2017, a 37% year-over-year increase
|
| · |
Added 205,000 net premium subscriptions in the second quarter of 2018 to reach 3.7 million as of June 30, 2018, a 28% increase over the total number of subscriptions at the end of the second quarter of 2017
|
| · |
Added 5.8 million registered users in the second quarter of 2018. Registered users as of June 30, 2018 were 131 million, representing a 20% increase compared to the end of the second quarter of 2017
|
| · |
Momentum in Wix Code Adoption Continues: Usage of Wix Code continues to increase as users across sectors and skill levels are building a wide variety of websites and applications with the product. Activity in the Wix Code Forum, our online community for users to find help and interact with one another, is also increasing as users have contributed over 35,000 posts and comments and have generated over 1 million views.
|
| · |
Recently Launched Wix Mobile Site Builder: In response to increasing requests from our users, we recently launched a Wix mobile site builder. This product utilizes the same AI technology that we released in June 2016. Users can now create a professional looking customized website entirely from a mobile device. Users are then able to modify the site further on either a mobile device or on a desktop using the Wix Editor. This product is another example of our ability to innovate in response to requests from users who come to Wix to build their brands and businesses online.
|
| · |
Completed Successful Capital Raise: In June and July, Wix raised $443 million in a private offering of its 0% Convertible Senior Notes due 2023. The size of the offering was upsized from the initial base offering and includes the over-allotment option, which the initial purchasers exercised in full. In connection with this offering, Wix entered into negotiated capped call transactions, which are expected generally to reduce the potential dilution to the ordinary shares of Wix upon any conversion of Notes and/or to offset any cash payments Wix is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap. The cap price of the capped call transactions will initially be $211.30 per share, which represents a premium of 100% over the Wix share price of $105.65 on June 21, 2018. Proceeds from the offering were partially used to pay for the capped call transactions with the remaining net proceeds to be used for general corporate purposes.
|
|
Q3 2018 Outlook
|
Y/Y growth
|
||
|
Revenue
|
$152- $153 million
|
37% – 38%
|
|
|
Collections
|
$161 - $162 million
|
34% – 35%
|
|
2018 Outlook
|
|||||||
|
Prior
|
Updated
|
Y/Y growth
|
|||||
|
Revenue
|
$594 - $597 million
|
$597 - $599 million
|
40% - 41%
|
||||
|
Collections
|
$651 - $657 million
|
$656 - $660 million
|
36%
|
||||
|
Free Cash Flow
|
$100 - $102 million
|
$101 - $103 million
|
43% - 46%
|
||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2017
|
2018
|
2017
|
2018
|
|||||||||||||
|
(unaudited)
|
(audited)
|
(unaudited)
|
||||||||||||||
|
Revenue
|
$
|
103,522
|
$
|
146,132
|
$
|
196,060
|
$
|
283,907
|
||||||||
|
Cost of revenue
|
18,025
|
30,437
|
32,888
|
59,481
|
||||||||||||
|
Gross Profit
|
85,497
|
115,695
|
163,172
|
224,426
|
||||||||||||
|
Operating expenses:
|
||||||||||||||||
|
Research and development
|
36,749
|
48,492
|
69,418
|
94,994
|
||||||||||||
|
Selling and marketing
|
48,016
|
58,855
|
102,345
|
125,866
|
||||||||||||
|
General and administrative
|
11,295
|
14,855
|
22,443
|
28,525
|
||||||||||||
|
Total operating expenses
|
96,060
|
122,202
|
194,206
|
249,385
|
||||||||||||
|
Operating loss
|
(10,563
|
)
|
(6,507
|
)
|
(31,034
|
)
|
(24,959
|
)
|
||||||||
|
Financial income (expenses), net
|
(2,043
|
)
|
1,532
|
(1,895
|
)
|
1,403
|
||||||||||
|
Other income
|
1
|
63
|
1
|
84
|
||||||||||||
|
Loss before taxes on income
|
(12,605
|
)
|
(4,912
|
)
|
(32,928
|
)
|
(23,472
|
)
|
||||||||
|
Taxes on income
|
1,659
|
728
|
2,221
|
1,979
|
||||||||||||
|
Net loss
|
$
|
(14,264
|
)
|
$
|
(5,640
|
)
|
$
|
(35,149
|
)
|
$
|
(25,451
|
)
|
||||
|
Basic and diluted net loss per share
|
$
|
(0.31
|
)
|
$
|
(0.12
|
)
|
$
|
(0.78
|
)
|
$
|
(0.54
|
)
|
||||
|
Basic and diluted weighted-average shares used to compute net loss per share
|
45,390,479
|
47,689,337
|
45,043,215
|
47,258,381
|
||||||||||||
|
As of
|
||||||||
|
December 31,
|
June 30,
|
|||||||
|
2017
|
2018
|
|||||||
|
(audited)
|
(unaudited)
|
|||||||
|
Assets
|
||||||||
|
Current Assets:
|
||||||||
|
Cash and cash equivalents
|
$
|
85,230
|
$
|
354,253
|
||||
|
Short term deposits
|
115,382
|
248,948
|
||||||
|
Restricted cash and deposit
|
949
|
949
|
||||||
|
Marketable securities
|
32,730
|
33,020
|
||||||
|
Trade receivables
|
11,400
|
8,676
|
||||||
|
Prepaid expenses and other current assets
|
19,246
|
25,453
|
||||||
|
Total current assets
|
264,937
|
671,299
|
||||||
|
Property, equipment and software, net
|
||||||||
|
Long Term Assets:
|
||||||||
|
Property and equipment, net
|
16,201
|
19,752
|
||||||
|
Prepaid expenses and other long-term assets
|
3,823
|
1,424
|
||||||
|
Intangible assets and goodwill, net
|
45,052
|
43,693
|
||||||
|
Total long-term assets
|
65,076
|
64,869
|
||||||
|
Total assets
|
$
|
330,013
|
$
|
736,168
|
||||
|
Liabilities and Shareholder's Equity
|
||||||||
|
Current Liabilities:
|
||||||||
|
Trade payables
|
$
|
34,240
|
$
|
38,497
|
||||
|
Employees and payroll accruals
|
28,067
|
41,564
|
||||||
|
Deferred revenues
|
202,482
|
214,206
|
||||||
|
Accrued expenses and other current liabilities
|
37,592
|
41,047
|
||||||
|
Total current liabilities
|
302,381
|
335,314
|
||||||
|
Long term deferred revenues
|
14,329
|
10,095
|
||||||
|
Long term deferred tax liability
|
764
|
683
|
||||||
|
Convertible senior notes
|
-
|
285,018
|
||||||
|
Long term loan
|
1,219
|
1,219
|
||||||
|
Total long term liabilities
|
16,312
|
297,015
|
||||||
|
Total liabilities
|
318,693
|
632,329
|
||||||
|
Shareholders' Equity
|
||||||||
|
Ordinary shares
|
80
|
85
|
||||||
|
Additional paid-in capital
|
311,107
|
415,968
|
||||||
|
Other comprehensive loss
|
(286
|
)
|
(1,893
|
)
|
||||
|
Accumulated deficit
|
(299,581
|
)
|
(310,321
|
)
|
||||
|
Total shareholders' equity
|
11,320
|
103,839
|
||||||
|
Total liabilities and shareholders' equity
|
$
|
330,013
|
$
|
736,168
|
||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2017
|
2018
|
2017
|
2018
|
|||||||||||||
|
(unaudited)
|
(audited)
|
(unaudited)
|
||||||||||||||
|
OPERATING ACTIVITIES:
|
||||||||||||||||
|
Net loss
|
$
|
(14,264
|
)
|
$
|
(5,640
|
)
|
$
|
(35,149
|
)
|
$
|
(25,451
|
)
|
||||
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||||||||||
|
Depreciation
|
1,346
|
2,196
|
2,643
|
4,093
|
||||||||||||
|
Amortization
|
1,142
|
731
|
1,462
|
1,319
|
||||||||||||
|
Share based compensation expenses
|
11,980
|
17,769
|
20,962
|
33,443
|
||||||||||||
|
Increase in accrued interest and exchange rate on short term and long term deposits
|
(53
|
)
|
(545
|
)
|
(167
|
)
|
(897
|
)
|
||||||||
|
Amortization of premium and discount and accrued interest on marketable securities, net
|
-
|
45
|
-
|
12
|
||||||||||||
|
Deferred income taxes, net
|
(184
|
)
|
(307
|
)
|
(397
|
)
|
(405
|
)
|
||||||||
|
Decrease in trade receivables
|
1,124
|
2,536
|
760
|
2,724
|
||||||||||||
|
Decrease (increase) in prepaid expenses and other current and long-term assets
|
743
|
(8,277
|
)
|
(3,170
|
)
|
(17,549
|
)
|
|||||||||
|
Increase in trade payables
|
2,151
|
3,826
|
6,659
|
3,382
|
||||||||||||
|
Increase (decrease) in employees and payroll accruals
|
(5,160
|
)
|
4,978
|
(205
|
)
|
13,431
|
||||||||||
|
Increase in short term and long term deferred revenues
|
13,599
|
13,763
|
35,607
|
35,643
|
||||||||||||
|
Increase (decrease) in accrued expenses and other current liabilities
|
7,227
|
(3,807
|
)
|
7,043
|
2,302
|
|||||||||||
|
Net cash provided by operating activities
|
19,651
|
27,268
|
36,048
|
52,047
|
||||||||||||
|
INVESTING ACTIVITIES:
|
||||||||||||||||
|
Proceeds from short-term deposits and restricted deposits
|
16,664
|
5,337
|
33,050
|
19,111
|
||||||||||||
|
Investment in short-term deposits and restricted deposits
|
(5,000
|
)
|
(125,001
|
)
|
(15,650
|
)
|
(151,780
|
)
|
||||||||
|
Investment in marketable securities
|
-
|
(11,576
|
)
|
-
|
(14,979
|
)
|
||||||||||
|
Proceeds from marketable securities
|
-
|
11,496
|
-
|
14,436
|
||||||||||||
|
Purchase of property and equipment
|
(2,239
|
)
|
(3,296
|
)
|
(3,855
|
)
|
(6,507
|
)
|
||||||||
|
Capitalization of software development costs
|
-
|
(115
|
)
|
-
|
(262
|
)
|
||||||||||
|
Acquisition of Intangible assets
|
-
|
(500
|
)
|
-
|
(500
|
)
|
||||||||||
|
Payment for Businesses acquired
|
(3,257
|
)
|
-
|
(33,091
|
)
|
-
|
||||||||||
|
Net cash used in investing activities
|
6,168
|
(123,655
|
)
|
(19,546
|
)
|
(140,481
|
)
|
|||||||||
|
FINANCING ACTIVITIES:
|
||||||||||||||||
|
Proceeds from exercise of options and ESPP shares
|
7,416
|
11,587
|
14,736
|
21,891
|
||||||||||||
|
Proceeds from Convertible notes,net
|
-
|
335,566
|
-
|
335,566
|
||||||||||||
|
Credit line repayment
|
-
|
-
|
(170
|
)
|
-
|
|||||||||||
|
Net cash provided by financing activities
|
7,416
|
347,153
|
14,566
|
357,457
|
||||||||||||
|
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
|
33,235
|
250,766
|
31,068
|
269,023
|
||||||||||||
|
CASH AND CASH EQUIVALENTS—Beginning of period
|
90,897
|
103,487
|
93,064
|
85,230
|
||||||||||||
|
CASH AND CASH EQUIVALENTS—End of period
|
$
|
124,132
|
$
|
354,253
|
$
|
124,132
|
$
|
354,253
|
||||||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2017
|
2018
|
2017
|
2018
|
|||||||||||||
|
(unaudited)
|
(unaudited)
|
|||||||||||||||
|
Revenues
|
$
|
103,522
|
$
|
146,132
|
$
|
196,060
|
$
|
283,907
|
||||||||
|
Collections
|
$
|
117,121
|
$
|
159,895
|
$
|
231,667
|
$
|
319,550
|
||||||||
|
Free Cash Flow
|
$
|
17,412
|
$
|
23,857
|
$
|
32,193
|
$
|
45,278
|
||||||||
|
Number of registered users at period end (*)
|
108,739
|
131,027
|
108,739
|
131,027
|
||||||||||||
|
Number of premium subscriptions at period end (*)
|
2,865
|
3,659
|
2,865
|
3,659
|
||||||||||||
|
(*) Excludes users and subscriptions of DeviantArt
|
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2017
|
2018
|
2017
|
2018
|
|||||||||||||
|
(unaudited)
|
(unaudited)
|
|||||||||||||||
|
Revenues
|
$
|
103,522
|
$
|
146,132
|
$
|
196,060
|
$
|
283,907
|
||||||||
|
Change in deferred revenues
|
13,599
|
13,763
|
35,607
|
35,643
|
||||||||||||
|
Collections
|
$
|
117,121
|
$
|
159,895
|
$
|
231,667
|
$
|
319,550
|
||||||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2017
|
2018
|
2017
|
2018
|
|||||||||||||
|
(unaudited)
|
(unaudited)
|
|||||||||||||||
|
(1) Share based compensation expenses:
|
||||||||||||||||
|
Cost of revenues
|
$
|
695
|
$
|
1,087
|
$
|
1,201
|
$
|
2,166
|
||||||||
|
Research and development
|
6,586
|
9,470
|
11,312
|
17,955
|
||||||||||||
|
Selling and marketing
|
1,778
|
2,352
|
3,197
|
4,394
|
||||||||||||
|
General and administrative
|
2,920
|
4,860
|
5,251
|
8,928
|
||||||||||||
|
Total share based compensation expenses
|
11,979
|
17,769
|
20,961
|
33,443
|
||||||||||||
|
(2) Amortization
|
1,240
|
731
|
1,426
|
1,319
|
||||||||||||
|
(3) Acquisition related expenses
|
860
|
946
|
4,625
|
2,374
|
||||||||||||
|
Total adjustments of GAAP to Non GAAP
|
$
|
14,079
|
$
|
19,446
|
$
|
27,012
|
$
|
37,136
|
||||||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2017
|
2018
|
2017
|
2018
|
|||||||||||||
|
(unaudited)
|
(unaudited)
|
|||||||||||||||
|
Gross Profit
|
$
|
85,497
|
$
|
115,695
|
$
|
163,172
|
$
|
224,426
|
||||||||
|
Share based compensation expenses
|
695
|
1,087
|
1,201
|
2,166
|
||||||||||||
|
Amortization
|
1,040
|
142
|
1,040
|
284
|
||||||||||||
|
Acquisition related expenses
|
-
|
-
|
28
|
-
|
||||||||||||
|
Non GAAP Gross Profit
|
87,232
|
116,924
|
165,441
|
226,876
|
||||||||||||
|
Non GAAP Gross margin
|
84
|
%
|
80
|
%
|
84
|
%
|
80
|
%
|
||||||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
| 2017 | 2018 | 2017 |
2018
|
|||||||||||||
|
(unaudited)
|
(unaudited)
|
|||||||||||||||
|
Operating loss
|
$
|
(10,563
|
)
|
$
|
(6,507
|
)
|
$
|
(31,034
|
)
|
$
|
(24,959
|
)
|
||||
|
Adjustments:
|
||||||||||||||||
|
Share based compensation expenses
|
11,979
|
17,769
|
20,961
|
33,443
|
||||||||||||
|
Amortization
|
1,240
|
731
|
1,426
|
1,319
|
||||||||||||
|
Acquisition related expenses
|
860
|
946
|
4,625
|
2,374
|
||||||||||||
|
Total adjustments
|
$
|
14,079
|
$
|
19,446
|
$
|
27,012
|
$
|
37,136
|
||||||||
|
Non GAAP operating income (loss)
|
$
|
3,516
|
$
|
12,939
|
$
|
(4,022
|
)
|
$
|
12,177
|
|||||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2017
|
2018
|
2017
|
2018
|
|||||||||||||
|
(unaudited)
|
(unaudited)
|
|||||||||||||||
|
Net loss
|
$
|
(14,264
|
)
|
$
|
(5,640
|
)
|
$
|
(35,149
|
)
|
$
|
(25,451
|
)
|
||||
|
Share based compensation expense and other Non GAAP adjustments
|
14,079
|
19,446
|
27,012
|
37,136
|
||||||||||||
|
Non-GAAP net income/(loss)
|
$
|
(185
|
)
|
$
|
13,806
|
$
|
(8,137
|
)
|
$
|
11,685
|
||||||
|
Basic Non GAAP net income/(loss) per share
|
$
|
(0.00
|
)
|
$
|
0.29
|
$
|
(0.18
|
)
|
$
|
0.25
|
||||||
|
Weighted average shares used in computing basic Non GAAP net income/(loss) per share
|
45,390,479
|
47,689,337
|
45,043,215
|
47,258,381
|
||||||||||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2017
|
2018
|
2017
|
2018
|
|||||||||||||
|
(unaudited)
|
(unaudited)
|
|||||||||||||||
|
Net cash provided by operating activities
|
$
|
19,651
|
$
|
27,268
|
$
|
36,048
|
$
|
52,047
|
||||||||
|
Capital expenditures, net
|
(2,239
|
)
|
(3,411
|
)
|
(3,855
|
)
|
(6,769
|
)
|
||||||||
|
Free Cash Flow
|
$
|
17,412
|
$
|
23,857
|
$
|
32,193
|
$
|
45,278
|
||||||||
|
Three Months Ended
|
Year Ending
|
|||||||||||||||
|
June 30, 2018
|
December 31, 2018
|
|||||||||||||||
|
Low
|
High
|
Low
|
High
|
|||||||||||||
|
Projected revenues (*)
|
152,000
|
153,000
|
597,000
|
599,000
|
||||||||||||
|
Projected change in deferred revenues
|
9,000
|
9,000
|
59,000
|
61,000
|
||||||||||||
|
Projected collections
|
$
|
161,000
|
$
|
162,000
|
$
|
656,000
|
$
|
660,000
|
||||||||
|
(*) Guidance under ASC 606
|
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2017
|
2018
|
2017
|
2018
|
|||||||||||||
|
(unaudited)
|
(unaudited)
|
|||||||||||||||
|
Basic and diluted weighted average number of shares outstanding
|
45,390,479
|
47,689,337
|
45,043,215
|
47,258,381
|
||||||||||||
| The following items have been excluded from the diluted weighted average number of shares outstanding because they are anti-dilutive: | ||||||||||||||||
|
Stock options
|
8,545,217
|
8,040,188
|
8,545,217
|
8,040,188
|
||||||||||||
|
Restricted share units
|
1,938,381
|
2,117,774
|
1,938,381
|
2,117,774
|
||||||||||||
|
55,874,077
|
57,847,299
|
55,526,813
|
57,416,343
|
|||||||||||||
|
Proforma weighted avg number of shares outstanding , net of cashless net exercise of options
|
56,390,273
|
56,390,273
|
||||||||||||||
|
Three Months ended June 30,
|
||||||||||||
|
2018
|
2018
|
2018
|
||||||||||
|
ASC 606
|
ASC 605
|
Impact
|
||||||||||
|
Revenues
|
$
|
146,132
|
$
|
143,991
|
$
|
2,141
|
||||||
|
y/y%
|
41
|
%
|
39
|
%
|
||||||||
|
Cost of revenues
|
30,437
|
29,535
|
902
|
|||||||||
|
Gross Profit (loss)
|
115,695
|
114,456
|
1,239
|
|||||||||
|
79
|
%
|
79
|
%
|
|||||||||
|
Operating expenses:
|
||||||||||||
|
Research and development
|
48,492
|
48,492
|
-
|
|||||||||
|
Marketing
|
58,855
|
58,855
|
-
|
|||||||||
|
General and administrative
|
14,855
|
14,855
|
-
|
|||||||||
|
Total operating expenses
|
122,202
|
122,202
|
-
|
|||||||||
|
Operating loss
|
(6,507
|
)
|
(7,746
|
)
|
1,239
|
|||||||
|
Financial income (expenses), net
|
1,532
|
1,532
|
-
|
|||||||||
|
Other expenses
|
63
|
63
|
-
|
|||||||||
|
Loss before taxes on income
|
(4,912
|
)
|
(6,151
|
)
|
1,239
|
|||||||
|
Taxes on income
|
728
|
728
|
-
|
|||||||||
|
Net loss
|
(5,640
|
)
|
(6,879
|
)
|
1,239
|
|||||||
|
Basic and diluted net loss per share
|
$
|
(0.12
|
)
|
$
|
(0.14
|
)
|
$
|
0.02
|
||||
|
Basic and diluted weighted-average shares used to compute net loss per share
|
47,689,337
|
47,689,337
|
-
|
|||||||||
|
Adjustments to Non GAAP
|
||||||||||||
|
Total Adjustments
|
$
|
19,446
|
$
|
19,446
|
$
|
-
|
||||||
|
Non GAAP operating income (loss)
|
$
|
12,939
|
$
|
11,700
|
$
|
1,239
|
||||||
|
Non-GAAP net income/(loss)
|
$
|
13,806
|
$
|
12,567
|
$
|
1,239
|
||||||
|
Basic Non GAAP net income/(loss) per share
|
$
|
0.29
|
$
|
0.26
|
$
|
0.03
|
||||||