In the news release, Attunity Reports Second Quarter 2016
Results, issued Aug. 3, 2016 by
Attunity Ltd. over PR Newswire, we are advised by the company that
in the table 'RECONCILIATION OF SUPPLEMENTAL NON-GAAP FINANCIAL
INFORMATION', Non-GAAP revenues for the three months ended
June 30, 2016 should be $14,241. The complete, corrected release
follows:
Attunity Reports Second Quarter 2016 Results Revenue grew to
$14.2M, up 16% in the second quarter
of 2016
BURLINGTON, Massachusetts,
Aug. 3, 2016 /PRNewswire/
-- Attunity, Ltd. (NasdaqCM: ATTU), a leading
provider of Big Data management software solutions, today reported
its unaudited financial results for the three-month period ended
June 30, 2016.
"We are pleased with our continued revenue growth. Our success
was driven by the growing demand in the Big Data market where
customers are recognizing the advantages of our innovative product
suite. These advantages enable us to address global enterprise
initiatives that require large scale, heterogeneous and real-time
data integration solutions for Hadoop data lakes. Our investments
in sales and marketing enabled us to increase sales of Attunity
Replicate, including another multi-million dollar, multi-year
customer engagement for Hadoop, as well as to sign several new
customers for our new Attunity Compose offering, launched earlier
in the year," said Shimon Alon,
Chairman and CEO of Attunity. "With a growing pipeline of new
licensing agreements, we expect our growth to continue through the
second half of the year and beyond."
Recent Operational Highlights
- Signed a $4.5 million, three-year
agreement with a large global corporation for its enterprise data
lake initiative, highlighting a growing market opportunity for
Attunity with other large strategic and global agreements
- Successfully continued the launch of Attunity Compose, closing
several agreements with new customers as well as existing Replicate
customers
- Expanded collaboration with Microsoft to facilitate adoption of
SQL Server 2016 and migration from other databases, such as
Oracle
- Launched enhanced version of Attunity Visibility for Hadoop
that enables intelligent data management for growing data lake
environments
- Received several industry awards, including '50 Innovative
Companies to Watch' by the Silicon Review and '30 Coolest Data
Management Vendors' in Big Data 100 list by CRN
Financial Highlights for Q2 2016, compared with Q2 2015
- GAAP total revenue increased 16% to $14.2 million
- Non-GAAP total revenue increased 14% to $14.2 million*
- GAAP operating expenses increased to $18.5 million compared with $12.9 million
- The operating expenses in Q2 2016 include an approximately
$2.1 million charge for partial
impairment of acquired technology associated with the Appfluent
acquisition, as well as $2.0 million
in expenses and amortization associated with acquisitions and
equity-based compensation expenses, compared with $1.8 million in expenses and amortization
associated with acquisitions and equity-based compensation expenses
for the same period in 2015
- Non-GAAP operating expenses increased to $14.4 million compared with $11.1 million*
- GAAP net loss of $2.9 million,
compared with net loss of $0.8
million
- Non-GAAP net income of $0.1
million, compared with non-GAAP net income of $1.1 million*
- Generated positive cash flow from operations of $0.3 million
Big Data Management and Cloud Solutions
Attunity is increasingly recognized across the industry as a
leading provider of Big Data management solutions, including its
award-winning data integration and management offerings that
provide data replication and ingest with real-time change data
capture (CDC), data warehouse automation, data usage analytics,
data connectivity, cloud data delivery, and test data management.
In the second quarter of 2016, the Company's solutions were
recognized by a number of industry sources, including CIO magazine,
CRN and Database Trends and Applications (DBTA) Magazine.
The Company made several product announcements during the second
quarter of 2016, further expanding the capabilities of its existing
solutions, as well as introducing new innovative solutions to the
market.
Attunity expanded its collaboration with Microsoft Corp. to
enable faster and easier adoption of Microsoft SQL Server 2016, the
latest version of Microsoft's market leading database and data
warehousing platform running on-premises or on Microsoft Azure
cloud, which became generally available in the second quarter of
2016. By utilizing Attunity Replicate's high-performance data
replication and CDC technologies, this cooperation is aimed at
simplifying and accelerating zero-downtime migrations from systems
like Oracle and other databases to SQL Server 2016.
The cloud continues to be an area of growth where enterprises
are looking to migrate databases to cloud platforms, as well as
leverage the cloud to analyze their data. These customer needs
require an efficient and reliable way to move data from their data
centers. We believe we are well positioned to accommodate this
growing need with our innovative products as well as our alliances
with leading global providers, such as Amazon Web Services,
Microsoft and Google.
During the second quarter of 2016, the Company launched Attunity
Visibility for Hadoop, which features enhanced technology that
enables comprehensive data usage analytics for large-scale and
fast-growing Hadoop data lake environments. This new and innovative
solution is designed to provide a unified platform from which users
are able to analyze usage across enterprise Big Data systems.
Demand for Attunity Compose, which was launched earlier this
year, continued to build in the second quarter of 2016, with
several deals completed and a growing pipeline of potential new
deals.
Consulting Services
There continues to be an increased demand from customers
requiring our consulting services for their larger scale and
enterprise-wide implementations. Attunity continues to make
investments in building out its consulting group as well as
engaging system integration partners in order to address this
demand.
Financial Results for Q2 2016
GAAP total revenue for the second quarter of 2016 increased 16%
to $14.2 million, compared with
$12.2 million for the same period in
2015. This includes license revenue of $8.0
million, which increased 17% compared with the same period
in 2015 (the license revenue in the second quarter of 2016 includes
$2.6 million from a $4.5 million, three-year strategic Hadoop deal
signed during the quarter), and maintenance and service revenue,
which grew 15% to $6.3 million,
compared with $5.4 million for the
same period in 2015.
Non-GAAP total revenue for the second quarter of 2016 increased
14% to $14.2 million, compared with
$12.5 million for the same period in
2015. This includes non-GAAP maintenance and service revenue of
$6.3 million, which grew 9% from the
same period in 2015 (license revenue of $8.0
million was not used as a non-GAAP measure).*
GAAP operating expenses for the second quarter of 2016 increased
44% to $18.5 million, compared with
$12.9 million for the second quarter
of 2015. The increase in expenses is primarily related to the
Company's global expansion, with total headcount increasing by 40
people over the past year - including 30 additions to the sales,
sales support, marketing and consulting services teams - to
accommodate growing demand for Attunity Replicate and Compose. The
increase in operating expenses in the second quarter of 2016 also
includes a $2.1 million charge for
partial impairment of acquired technology associated with the
Appfluent acquisition.
Non-GAAP operating expenses for the second quarter of 2016
increased 30% to $14.4 million,
compared with $11.1 million for the
second quarter of 2015.*
GAAP operating loss for the second quarter of 2016 was
$4.3 million, compared with
$0.7 million for the same period in
2015.
Non-GAAP operating loss was $0.2
million for the second quarter of 2016, compared with
operating income of $1.4 million for
the second quarter of 2015. Non-GAAP operating loss for the second
quarter of 2016 excludes a total of $4.1
million in expenses, including a $2.1
million charge for partial impairment of acquired technology
associated with the Appfluent acquisition, and $2.0 million in expenses and amortization
associated with acquisitions and equity-based compensation
expenses. This is compared with $2.1
million in adjustments, expenses and amortization associated
with acquisitions and equity-based compensation expenses for the
second quarter of 2015.*
GAAP net loss for the second quarter of 2016 was $2.9 million, or $0.17 per diluted share, compared with a net loss
of $0.8 million, or $0.05 per diluted share, in the second quarter of
2015.
Non-GAAP net income for the second quarter of 2016 was
$0.1 million, or $0.01 per diluted share, compared with non-GAAP
net income of $1.1 million, or
$0.06 per diluted share, for the same
period in 2015. Non-GAAP net loss for the second quarter of 2016
excludes approximately $3.0 million
in expenses, amortization and impairment charges associated with
acquisitions, equity-based compensation expenses and tax benefits
related to non-GAAP adjustments of $1.1
million, compared with approximately $1.9 million in adjustments, expenses and
amortization associated with acquisitions, equity-based
compensation expenses and tax benefits related to non-GAAP
adjustments of $0.3 million for the
same period in 2015.*
Cash and cash equivalents were $8.9
million as of June 30, 2016,
compared with $10.0 million as of
March 31, 2016. Cash and cash
equivalents at the end of the second quarter of 2016 were mainly
impacted by earn-out payment of $1.2
million to former Hayes shareholders.
Appfluent acquired technology, which was acquired in
March 2015, decreased by $2.1 million to $2.6
million as of June 30, 2016,
due to the partial impairment. This accounting charge was taken in
order to reflect the fair value of the technology following delayed
sales trends with longer sales cycles of Attunity Visibility, which
we believe is primarily due to the innovative nature of this
solution, aimed at optimizing enterprise data warehouses with
Hadoop.
Shareholders' equity as of June 30,
2016 decreased to $34.5
million, compared with $36.4
million as of March 31,
2016.
* See "Use of Non-GAAP Financial Information" below for more
information regarding Attunity's use of Non-GAAP financial
measures.
Conference Call and Webcast Information
The Company will host a conference call with the investment
community on Wednesday, August 3rd at 8:30
a.m. Eastern Time featuring remarks by Shimon Alon, Chairman
and CEO of Attunity, and Dror Harel-Elkayam, CFO of Attunity.
The dial-in numbers for the conference call are +1-888-576-4387
(U.S. Toll Free), +1-80-924-5906 (Israel), or +1-719-457-2689 (International).
All dial-in participants must use the following code to access the
call: 6114158.
Please call at least five minutes before the scheduled start
time. The conference call will also be available via webcast,
which can be accessed through
http://public.viavid.com/index.php?id=120250 or the Investor
Relations section of Attunity's
website, http://www.attunity.com/investor-relations. Please
allow extra time prior to the call to visit the site and download
any necessary software to listen to the live broadcast.
For interested individuals unable to join the conference call, a
replay of the call will be available through August 17,
2016, at +1-877-870-5176 (U.S. Toll Free) or 1-858-384-5517
(International). Participants must use the following code to access
the replay of the call: 6114158. The online archive of the webcast
will be available on http://www.attunity.com/events for
30 days following the call.
About Attunity
Attunity is a leading provider of Big Data management software
solutions that enable access, management, sharing and distribution
of data across heterogeneous enterprise platforms,
organizations, and the cloud. Our software solutions
include data replication and distribution, test data
management, change data capture (CDC), data
connectivity, enterprise file
replication (EFR), managed file
transfer (MFT), data warehouse automation, data
usage analytics, and cloud data delivery.
Attunity has supplied innovative software solutions to its
enterprise-class customers for over 20 years and has successful
deployments at thousands of organizations worldwide. Attunity
provides software directly and indirectly through a number of
partners such as Microsoft, Oracle, IBM and Hewlett Packard
Enterprise. Headquartered in Boston, Attunity serves its
customers via offices in North America, Europe,
and Asia Pacific and through a network of local partners.
For more information, visit http://www.attunity.com or our
blog and join our community on Twitter, Facebook, LinkedIn,
and YouTube.
Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with
U.S. generally accepted accounting principles, or GAAP, Attunity
uses Non-GAAP measures of net income (loss), operating income
(loss), and diluted net income (loss) per share, which are adjusted
from results based on GAAP to exclude expenses, amortization and
impairment charges associated with the acquisitions, stock-based
compensation expenses in accordance with ASC 718, non-cash
financial expenses such as the effect of a revaluation of
liabilities presented at fair value and accretion of payment
obligations, and tax benefits related to non-GAAP adjustments.
Attunity's management believes the non-GAAP financial information
provided in this release is useful to investors' understanding and
assessment of Attunity's on-going core operations and prospects for
the future. Management uses both GAAP and non-GAAP information in
evaluating and operating its business internally and as such has
determined that it is important to provide this information to
investors. The presentation of this non-GAAP financial information
is not intended to be considered in isolation or as a substitute
for results prepared in accordance with GAAP. For further
details, see the Reconciliation of Supplemental Non-GAAP Financial
Information table later in this press release.
Safe Harbor Statement
This press release contains forward-looking statements,
including statements regarding the anticipated features and
benefits of Replicate Solutions, within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995 and other Federal Securities laws. Statements preceded by,
followed by, or that otherwise include the words "believes",
"expects", "anticipates", "intends", "estimates", "plans", and
similar expressions or future or conditional verbs such as "will",
"should", "would", "may" and "could" are generally forward-looking
in nature and not historical facts. For example, when we say that
we expect our growth to continue through the second half of the
year and beyond or that our $4.5
million agreement highlights a growing market opportunity
for Attunity with other large strategic and global agreements, we
are using forward-looking statements. Because such statements deal
with future events, they are subject to various risks and
uncertainties and actual results, expressed or implied by such
forward-looking statements, could differ materially from Attunity's
current expectations. Factors that could cause or contribute to
such differences include, but are not limited to, risks and
uncertainties relating to: our history of operating losses and
ability to achieve profitability; our reliance on strategic
relationships with our distributors, OEM, VAR and "go-to-market"
and other business partners, and on our other significant
customers; our ability to manage our growth
effectively; acquisitions, including costs and difficulties
related to integration of acquired businesses [and impairment
charges]; our ability to expand our business into the SAP market
and the success of our Gold Client offering; timely availability
and customer acceptance of Attunity's new and existing products,
including Attunity Compose and Attunity Visibility; fluctuations in
our quarterly operating results, which may not necessarily be
indicative of future periods; changes in the competitive landscape,
including new competitors or the impact of competitive pricing and
products; a shift in demand for products such as Attunity's
products; the impact on revenues of economic and political
uncertainties and weaknesses in various regions of the world,
including the commencement or escalation of hostilities or acts of
terrorism as well as cyber-attacks; and other factors and risks on
which Attunity may have little or no control. This list is intended
to identify only certain of the principal factors that could cause
actual results to differ. For a more detailed description of the
risks and uncertainties affecting Attunity, reference is made to
Attunity's latest Annual Report on Form 20-F which is on file with
the Securities and Exchange Commission (SEC) and the other risk
factors discussed from time to time by Attunity in reports filed
with, or furnished to, the SEC. Except as otherwise required by
law, Attunity undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
The contents of any website or hyperlinks mentioned in this
press release are for informational purposes and the contents
thereof are not part of this press release.
© 2016 Attunity Ltd. All rights reserved. Attunity is a
trademark of Attunity Inc.
For more information, please contact:
Garth Russell / Allison Soss
KCSA Strategic Communications
P: +1-212-682-6300
grussell@kcsa.com / asoss@kcsa.com
Dror Harel-Elkayam, CFO
Attunity Ltd.
P: +972-9-899-3000
dror.elkayam@attunity.com
CONDENSED CONSOLIDATED
BALANCE
SHEETS
|
U.S. dollars in
thousands
|
|
|
|
|
|
|
|
|
June
30,
|
|
December
31,
|
|
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
Unaudited
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
|
Cash and cash
equivalents
|
$
|
8,919
|
$
|
12,522
|
|
Trade receivables (net of
allowance for doubtful accounts of $15 at June 30, 2016 and
December 31,
2015)
|
|
6,920
|
|
4,524
|
|
Other accounts receivable
and prepaid
expenses
|
|
1,136
|
|
639
|
|
|
|
|
|
|
|
Total current
assets
|
$
|
16,975
|
$
|
17,685
|
|
|
|
|
|
|
|
LONG-TERM
ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|
Severance pay
fund
|
$
|
3,706
|
$
|
3,513
|
|
Property and equipment,
net
|
|
1,359
|
|
1,260
|
|
Goodwill and Intangible
assets,
net
|
|
36,676
|
|
40,116
|
|
Other
assets
|
|
1,644
|
|
584
|
|
|
|
|
|
|
|
Total long-term
assets
|
|
43,385
|
|
45,473
|
|
|
|
|
|
|
|
Total
assets
|
$
|
60,360
|
$
|
63,158
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONDENSED CONSOLIDATED
BALANCE
SHEETS
|
|
U.S. dollars in
thousands, except share and per share
data
|
|
|
|
June
30,
|
|
December
31,
|
|
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
Unaudited
|
|
|
|
LIABILITIES AND
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
|
|
|
|
|
|
|
Trade
payables
|
|
1,052
|
|
664
|
|
Payment obligation related
to
acquisitions
|
|
1,018
|
|
2,204
|
|
Deferred
revenues
|
|
10,788
|
|
9,354
|
|
Employees and payroll
accruals
|
|
4,662
|
|
4,012
|
|
Accrued expenses and other
current
liabilities
|
|
1,262
|
|
1,248
|
|
|
|
|
|
|
|
Total current
liabilities
|
$
|
18,782
|
$
|
17,482
|
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
|
|
|
|
|
|
|
Deferred
revenues
|
|
1,016
|
|
1,348
|
|
Liabilities presented at
fair value and other long-term
liabilities
|
|
963
|
|
1,037
|
|
Payment obligation related
to
acquisitions
|
|
-
|
|
254
|
|
Accrued severance
pay
|
|
5,050
|
|
4,746
|
|
Total long-term
liabilities
|
$
|
7,029
|
$
|
7,385
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY:
|
|
|
|
|
|
Share capital - Ordinary
shares of NIS 0.4 par value
-
|
|
1,899
|
|
1,876
|
|
Authorized: 32,500,000
shares at June 30, 2016 and December 31, 2015; Issued and
outstanding: 16,631,754 shares at June 30, 2016 and 16,406,243
shares at December 31,
2015
|
|
|
|
|
Additional paid-in
capital
|
|
147,470
|
|
144,836
|
|
Accumulated other
comprehensive
loss
|
|
(1,087)
|
|
(1,137)
|
|
Accumulated
deficit
|
|
(113,733)
|
|
(107,284)
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
|
34,549
|
|
38,291
|
|
|
|
|
|
|
|
Total liabilities and
shareholders'
equity
|
$
|
60,360
|
$
|
63,158
|
|
CONSOLIDATED STATEMENTS
OF
OPERATIONS
|
U.S. dollars in
thousands, except share and per share data
|
|
|
Three months
ended
|
|
Six months
ended
|
|
|
June
30,
|
|
June
30,
|
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
|
|
Unaudited
|
|
Unaudited
|
|
Software
licenses
|
|
$7,964
|
|
$6,781
|
|
$13,539
|
|
$12,360
|
|
Maintenance and
services
|
|
6,268
|
|
5,447
|
|
12,433
|
|
10,248
|
|
Total
revenue
|
|
14,232
|
|
12,228
|
|
25,972
|
|
22,608
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
2,321
|
|
2,005
|
|
4,379
|
|
3,243
|
|
Research and
development
|
|
3,492
|
|
2,697
|
|
6,792
|
|
4,893
|
|
Sales and
marketing
|
|
9,390
|
|
7,103
|
|
17,847
|
|
13,285
|
|
General and
administrative
|
|
1,178
|
|
1,080
|
|
2,308
|
|
2,636
|
|
Impairment of
acquisition-related intangible
assets
|
|
2,132
|
|
-
|
|
2,132
|
|
-
|
|
Total operating
expenses
|
|
18,513
|
|
12,885
|
|
33,458
|
|
24,057
|
|
Operating
loss
|
|
(4,281)
|
|
(657)
|
|
(7,486)
|
|
(1,449)
|
|
Financial (income)
expenses,
net
|
|
(137)
|
|
(14)
|
|
(80)
|
|
235
|
|
Loss before taxes on
income
|
|
(4,144)
|
|
(643)
|
|
(7,406)
|
|
(1,684)
|
|
Taxes on income
(benefit)
|
|
(1,283)
|
|
155
|
|
(957)
|
|
441
|
|
Net
loss
|
|
$(2,861)
|
|
$ (798)
|
|
$(6,449)
|
|
$(2,125)
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted net loss
per
share
|
|
$(0.17)
|
|
$(0.05)
|
|
$(0.39)
|
|
$(0.13)
|
|
Weighted average number of
shares used in computing basic and diluted net loss per
share
|
|
16,737
|
|
16,290
|
|
16,671
|
|
15,900
|
|
CONSOLIDATED STATEMENTS
OF CASH
FLOWS
|
U.S. dollars in
thousands
|
|
|
|
|
|
Six months ended June
30,
|
|
|
2016
|
|
2015
|
|
|
Unaudited
|
Cash flows
activities:
|
|
|
|
|
Net
loss
|
|
$(6,449)
|
|
$(2,125)
|
Adjustments required to
reconcile net loss to net cash provided by (used in) operating
activities:
|
|
|
|
|
Depreciation
|
|
237
|
|
193
|
Stock based
compensation
|
|
2,220
|
|
971
|
Amortization of intangible
assets
|
|
1,393
|
|
1,285
|
Impairment of
acquisition-related intangible
assets
|
|
2,132
|
|
-
|
Accretion of payment
obligations
|
|
(12)
|
|
130
|
Change
in:
|
|
|
|
|
Accrued
severance pay,
net
|
|
111
|
|
163
|
Trade
receivables
|
|
(2,714)
|
|
1,390
|
Other accounts
receivable and prepaid
expenses
|
|
(491)
|
|
(972)
|
Other long
term assets and
liabilities
|
|
179
|
|
(12)
|
Trade
payables
|
|
397
|
|
355
|
Deferred
revenues
|
|
1,262
|
|
2,225
|
Employees and
payroll
accruals
|
|
840
|
|
421
|
Accrued
expenses and other
liabilities
|
|
49
|
|
(339)
|
Change in liabilities
presented at fair value and other long-term
liabilities
|
|
(86)
|
|
40
|
Tax benefits related to
exercise of stock
options
|
|
44
|
|
(60)
|
Change in deferred taxes,
net
|
|
(1,196)
|
|
195
|
Net cash provided by (used
in) operating
activities
|
|
(2,084)
|
|
3,860
|
Cash flows from investing
activities:
|
|
|
|
|
Purchase of property and
equipment
|
|
(340)
|
|
(283)
|
Acquisition of company, net
of cash
acquired
|
|
-
|
|
(10,402)
|
Net cash used in investing
activities
|
|
(340)
|
|
(10,685)
|
Cash flows from financing
activities:
|
|
|
|
|
Proceeds from exercise of
stock options, warrants and
rights
|
|
155
|
|
696
|
Tax benefits related to
exercise of stock
options
|
|
(44)
|
|
60
|
Payment of contingent
consideration
|
|
(1,239)
|
|
(2,054)
|
Net cash used in financing
activities
|
|
(1,128)
|
|
(1,298)
|
Foreign currency
translation adjustments on cash and cash
equivalents
|
|
(51)
|
|
2
|
Decrease in cash and cash
equivalents
|
|
(3,603)
|
|
(8,121)
|
Cash and cash equivalents
at the beginning of the
period
|
|
12,522
|
|
18,959
|
Cash and cash equivalents
at the end of the
period
|
|
8,919
|
|
10,838
|
|
|
|
|
|
Supplemental disclosure of
cash flow
activities:
|
|
|
|
|
Cash paid during the period
for
taxes
|
|
$563
|
|
$1,028
|
Supplemental disclosure of
non-cash investing
activities:
|
|
|
|
|
Issuance of shares related
to
acquisitions
|
|
224
|
|
6,600
|
RECONCILIATION OF
SUPPLEMENTAL NON-GAAP FINANCIAL
INFORMATION
|
|
U.S. dollars in
thousands, except share and per share
data
|
|
|
|
Three months ended June
30,
|
|
Six months ended June
30,
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
|
Unaudited
|
|
Unaudited
|
|
GAAP
revenues
|
14,232
|
|
12,228
|
|
25,972
|
|
22,608
|
|
Valuation adjustment on
acquired deferred service
revenue
|
9
|
|
310
|
|
26
|
|
345
|
|
Non-GAAP
revenues
|
14,241
|
|
12,538
|
|
25,998
|
|
22,953
|
|
|
|
|
|
|
|
|
|
|
GAAP cost of
revenue
|
2,321
|
|
2,005
|
|
4,379
|
|
3,243
|
|
Amortization of acquired
intangible
assets
|
634
|
|
684
|
|
1,267
|
|
1,127
|
|
Cost of revenue adjustment
(1)
|
40
|
|
|
|
80
|
|
|
|
Non-GAAP cost of
revenue
|
1,647
|
|
1,321
|
|
3,032
|
|
2,116
|
|
|
|
|
|
|
|
|
|
|
GAAP gross
profit
|
11,911
|
|
10,223
|
|
21,593
|
|
19,365
|
|
Gross profit
adjustments
|
683
|
|
994
|
|
1,373
|
|
1,472
|
|
Non-GAAP gross
profit
|
12,594
|
|
11,217
|
|
22,966
|
|
20,837
|
|
|
|
|
|
|
|
|
|
|
GAAP operating
expenses
|
18,513
|
|
12,885
|
|
33,458
|
|
24,057
|
|
Cost of revenues
(1)
|
40
|
|
-
|
|
80
|
|
-
|
|
Research and development
(1)
(2)
|
317
|
|
235
|
|
679
|
|
335
|
|
Sales and marketing (1)
(2)
|
691
|
|
593
|
|
1,458
|
|
788
|
|
General and administrative
(1)
(2)
|
233
|
|
153
|
|
484
|
|
865
|
|
Amortization of acquired
intangible
assets
|
696
|
|
783
|
|
1,393
|
|
1,285
|
|
Impairment of
acquisition-related intangible
assets
|
2,132
|
|
-
|
|
2,132
|
|
-
|
|
Non-GAAP operating
expenses
|
14,404
|
|
11,121
|
|
27,232
|
|
20,784
|
|
|
|
|
|
|
|
|
|
|
GAAP Financial (income)
expenses,
net
|
(137)
|
|
(14)
|
|
(80)
|
|
235
|
|
Revaluation of liabilities
presented at fair
value
|
61
|
|
77
|
|
(86)
|
|
59
|
|
Accretion of payment
obligations
|
(36)
|
|
80
|
|
(12)
|
|
130
|
|
Non-GAAP Financial (income)
expenses,
net
|
(162)
|
|
(171)
|
|
18
|
|
46
|
|
|
|
|
|
|
|
|
|
|
GAAP taxes on income
(benefit)
|
(1,283)
|
|
155
|
|
(957)
|
|
441
|
|
Tax benefits related to
non-GAAP
adjustments
|
(1,148)
|
|
(334)
|
|
(1,314)
|
|
(383)
|
|
Non-GAAP taxes on income
(benefit)
|
(135)
|
|
489
|
|
357
|
|
824
|
|
|
|
|
|
|
|
|
|
|
GAAP net
loss
|
(2,861)
|
|
(798)
|
|
(6,449)
|
|
(2,125)
|
|
Valuation adjustment on
acquired deferred
revenue
|
9
|
|
310
|
|
26
|
|
345
|
|
Amortization of acquired
intangible
assets
|
696
|
|
783
|
|
1,393
|
|
1,285
|
|
Impairment of
acquisition-related intangible
assets
|
2,132
|
|
-
|
|
2,132
|
|
-
|
|
Acquisition related
expenses
|
344
|
|
456
|
|
779
|
|
1,017
|
|
Stock-based
compensation
|
937
|
|
525
|
|
1,922
|
|
971
|
|
Revaluation of liabilities
presented at fair
value
|
61
|
|
77
|
|
(86)
|
|
59
|
|
Accretion of payment
obligations
|
(36)
|
|
80
|
|
(12)
|
|
130
|
|
Tax benefits related to
non-GAAP
adjustments
|
(1,148)
|
|
(334)
|
|
(1,314)
|
|
(383)
|
|
Non-GAAP net income
(loss)
|
134
|
|
1,099
|
|
(1,609)
|
|
1,299
|
|
|
|
|
|
|
|
|
|
|
GAAP diluted net loss per
share
|
(0.17)
|
|
(0.05)
|
|
(0.39)
|
|
(0.13)
|
|
Non-GAAP diluted net income
(loss) per
share
|
0.01
|
|
0.06
|
|
(0.10)
|
|
(0.08)
|
|
|
|
|
|
|
|
|
|
|
shares used in computing
GAAP diluted net income (loss) per
share
|
16,737
|
|
16,290
|
|
16,671
|
|
15,900
|
|
|
|
|
|
|
|
|
|
|
shares used in computing
Non-GAAP diluted net income (loss) per
share
|
17,016
|
|
17,029
|
|
16,671
|
|
16,602
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended June
30,
|
|
Six months ended June
30,
|
(1) Stock-based
compensation expenses
(*):
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Cost of
revenues
|
40
|
|
-
|
|
80
|
|
-
|
Research and
development
|
231
|
|
121
|
|
493
|
|
221
|
Sales and
marketing
|
433
|
|
251
|
|
865
|
|
446
|
General and
administrative
|
233
|
|
153
|
|
484
|
|
304
|
|
937
|
|
525
|
|
1,922
|
|
971
|
(*) Retention bonus paid in
Attunity shares constitute part of (2)
below
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) Acquisition related
expenses
|
|
|
|
|
|
|
|
Research and
development
|
86
|
|
114
|
|
186
|
|
114
|
Sales and
marketing
|
258
|
|
342
|
|
593
|
|
342
|
General and
administrative
|
-
|
|
-
|
|
-
|
|
561
|
|
344
|
|
456
|
|
779
|
|
1,017
|
|
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/attunity-reports-second-quarter-2016-results-300308327.html
SOURCE Attunity Ltd.