TYSONS CORNER, Va.,
April 27, 2016 /PRNewswire/
-- MicroStrategy® Incorporated (Nasdaq: MSTR), a leading
worldwide provider of enterprise software platforms, today
announced financial results for the three-month period ended
March 31, 2016 (the first quarter of
its 2016 fiscal year).
First quarter 2016 revenues were $119.0
million versus $123.9 million
for the first quarter of 2015, a 4% decrease. Product
licenses and subscription services revenues for the first quarter
of 2016 were $29.8 million versus
$27.4 million for the first quarter
of 2015, a 9% increase. Product support revenues for the
first quarter of 2016 were $68.5
million versus $69.3 million
for the first quarter of 2015, a 1% decrease. Other services
revenues for the first quarter of 2016 were $20.8 million versus $27.1
million for the first quarter of 2015, a 24% decrease.
Foreign currency headwinds continued to have a negative impact on
revenues for the first quarter of 2016.
Operating expenses for the first quarter of 2016 were
$76.4 million versus $74.1 million for the first quarter of 2015, a 3%
increase. In addition, MicroStrategy did not capitalize any
software development costs during the first quarter of 2016, as
compared to $5.4 million in software
development costs capitalized during the first quarter of
2015.
Income from operations for the first quarter of 2016 was
$19.8 million, as compared to income
from operations of $22.6 million for
the first quarter of 2015. Net income for the first quarter
of 2016 was $14.3 million, or
$1.24 per share on a diluted basis,
as compared to net income of $20.5
million, or $1.79 per share on
a diluted basis, for the first quarter of 2015.
Non-GAAP income from operations, which excludes share-based
compensation expense and restructuring costs, was $21.3 million for the first quarter of 2016
versus $26.3 million for the first
quarter of 2015.
As of March 31, 2016,
MicroStrategy had cash and cash equivalents and short-term
investments of $536.3 million, as
compared to $485.7 million as of
December 31, 2015, an increase of
$50.6 million. As of
March 31, 2016, MicroStrategy had 9.4
million shares of class A common stock and 2.0 million shares of
class B common stock outstanding.
The tables at the end of this press release include a
reconciliation of income from operations to non-GAAP income from
operations for the three months ended March
31, 2016 and 2015. An explanation of this non-GAAP measure
is also included under the heading "Non-GAAP Financial Measure"
below.
Conference Call
MicroStrategy will be discussing its first quarter 2016
financial results on a conference call today beginning at
approximately 5:00 p.m. EDT. To
access the conference call, dial (844) 824-7425 (domestically) or
(716) 220-9429 (internationally) and use conference ID 95287609.
A live webcast and replay of the conference call will be
available under the "Events & Presentations" section on
MicroStrategy's investor relations website at
http://ir.microstrategy.com/events.cfm. The replay will be
available beginning approximately two hours after the call
concludes until May 2, 2016 at (855)
859-2056 (domestically) or (404) 537-3406 (internationally) using
the passcode 95287609. An archived webcast will also be
available under the "Events & Presentations" section on
MicroStrategy's investor relations website at
http://ir.microstrategy.com/events.cfm.
MicroStrategy Launched MicroStrategy 10.3™
In March, MicroStrategy unveiled MicroStrategy 10.3, the latest
release of its groundbreaking enterprise analytics platform
MicroStrategy 10 Secure Enterprise™. This release features new
data discovery capabilities and a collection of ease-of-use
enhancements designed to advance business user adoption within the
enterprise. To try MicroStrategy 10.3 using the new Express
Install, visit: http://www.microstrategy.com/us/free-trial.
Available as a free upgrade to all cloud and on-premises
customers who are current on maintenance, version 10.3 introduces
new visualization capabilities for data discovery users, new
gateways to leverage existing enterprise assets, a simplified
express installation, and a variety of ease-of-use improvements
throughout the platform. To learn more about MicroStrategy
10.3, visit:
http://ir.microstrategy.com/releasedetail.cfm?ReleaseID=960648.
"We take great pride in delivering a relevant, powerful and
easy-to-use analytics platform to the market," said Tim Lang, CTO, MicroStrategy Incorporated. "Both
business and technology leaders rely on MicroStrategy as an
across-the-board enterprise analytics platform because it strikes
the right balance between the agility of self-service data
discovery and the large-scale enterprise demands of governance,
security, and performance."
MicroStrategy 10™ Showcased in BI Bake-Off at Gartner
Business Intelligence and Analytics Summit
In March, MicroStrategy announced that MicroStrategy 10 was
showcased in the BI Bake-Off, a product face-off that took place at
the Gartner Business Intelligence and Analytics Summit at the
Gaylord Texan Hotel & Convention Center in Grapevine,
Texas. MicroStrategy customers Dr Pepper Snapple Group,
Interstate Batteries, and Ryder System presented on enterprise data
discovery with MicroStrategy 10. Each customer speaker
explained how they have deployed self-service to decentralized
teams and expanded analytics to new business groups while managing
data governance through a centralized semantic architecture.
At this year's BI Bake-Off, MicroStrategy was invited, along
with Microsoft, Qlik and Tableau, to demonstrate its data discovery
capabilities in an interactive and light-hearted environment – see
MicroStrategy's bake-off video here. Each vendor was asked to make
data-driven decisions analyzing publicly available College
Scorecard Data provided by the U.S. Department of Education.
The questions asked of vendors were designed with specific data
discovery functionalities and business user challenges in mind.
MicroStrategy demonstrated the capabilities of MicroStrategy 10,
including its data blending, data preparation, governed data
discovery, and mobile features.
"MicroStrategy emerged as a top performer in 13 of the 15
categories Gartner considers critical to success with BI and
analytics," said Mark Gambill, CMO,
MicroStrategy Incorporated. "Our inclusion in the BI Bake-Off
underscores the importance of our groundbreaking enterprise
analytics platform in the market and motivates us to continue to
expand its innovative capabilities and value for our
customers."
Gartner Report "MicroStrategy's Version 10 Blends Agile Data
Discovery With Governed BI and Analytics" Published
In February, MicroStrategy announced that leading analyst firm
Gartner published a report titled "MicroStrategy's Version 10
Blends Agile Data Discovery With Governed BI and Analytics"[1]. A
copy of the Gartner report is available, compliments
of MicroStrategy, at:
http://www.microstrategy.com/us/go/gartner-report-microstrategy-10.
The Gartner report outlines the following strategic planning
assumptions: "By 2018, data discovery and data management evolution
will drive most organizations to augment centralized analytic
architectures with decentralized approaches. By 2017, 75% of IT
organizations will have a bimodal capability; half will not handle
this well, by either remaining overcontrolling or outright ignoring
the risks of more agile approaches. By 2018, smart, governed,
Hadoop-based, search-based and visual-based data discovery will
converge into a single set of next-generation data discovery
capabilities, as components of a modern BI and analytics
platform."
"MicroStrategy's innovative capabilities strike the right
balance between agile data discovery and enterprise scalability,
giving the market both data discovery and enterprise BI in a single
analytics platform," said Michael J.
Saylor, Chairman, President and CEO, MicroStrategy
Incorporated. "We welcome Gartner's assessment of MicroStrategy
10's capabilities and our overall company strategy."
MicroStrategy Held its 19th Annual User Conference
in Miami
In February, MicroStrategy held its 19th annual user conference,
MicroStrategy World 2016, at the Miami Beach Convention
Center. The conference featured more than 160 distinct
sessions and 50 customer speakers, inspiring keynotes, numerous
hands-on workshops, and countless opportunities to network with
MicroStrategy's vast ecosystem of partners. All technical
sessions and brand new training workshops highlighted MicroStrategy
10 and how attendees can leverage its latest features and
capabilities to build apps and dashboards, find answers, and
complete tasks faster.
Speakers included 24 Hour Fitness, Ahold, AIG, Amazon Web
Services, Boston Children's Hospital, Cisco Systems, International
Post Corporation, Jabil Circuit, Netflix, Overstock.com, and Ryder
Systems. Customers were trained to successfully extract value
from big data, build mobile productivity apps, move their
on-premises analytics to the cloud, and deploy smartphone-based
security applications.
MicroStrategy Announced its 2016 Symposium Series
In March, MicroStrategy announced its 2016 Symposium Series, a
global tour showcasing the MicroStrategy 10.3 release of its
groundbreaking enterprise analytics platform MicroStrategy 10
Secure Enterprise™. The 20-city global tour represented a
unique opportunity for participants to learn about the latest
advances in big data analytics, data discovery, mobile application
development, and enterprise data security enabled by
MicroStrategy's unified analytics platform.
Each one-day event, which took place in cities across
North America, Europe, the Middle
East, and Asia in April,
demonstrated version 10.3's functionality during an executive
keynote, followed by a day filled with 12 to 16 breakout sessions
and hands-on workshops that covered: Analytics – big data,
predictive analytics, data discovery, dashboards and
visualizations, and enterprise-wide deployments; Mobility – mobile
analytics, workforce productivity apps, and custom mobile app
development for end users; and Security – employee access, customer
access, enterprise security and analytics.
Non-GAAP Financial Measure
MicroStrategy is providing a supplemental financial measure for
income from continuing operations that excludes the impact of
share-based compensation arrangements and restructuring activities.
This financial measure is not a measurement of financial
performance under generally accepted accounting principles in
the United States ("GAAP") and, as
a result, this financial measure may not be comparable to similarly
titled measures of other companies. Management uses this non-GAAP
financial measure internally to help understand, manage, and
evaluate business performance and to help make operating decisions.
MicroStrategy believes that this non-GAAP financial measure is also
useful to investors and analysts in comparing its performance
across reporting periods on a consistent basis because it excludes
a significant non-cash expense that MicroStrategy believes is not
reflective of its general business performance and restructuring
charges that we believe are not reflective of ongoing operating
results. In addition, accounting for share-based compensation
arrangements requires significant management judgment and the
resulting expense could vary significantly in comparison to other
companies. Therefore, MicroStrategy believes the use of this
non-GAAP financial measure can also facilitate comparison of
MicroStrategy's operating results to those of its competitors.
About MicroStrategy Incorporated
Founded in 1989, MicroStrategy (Nasdaq: MSTR) is a leading
worldwide provider of enterprise software platforms. The
Company's mission is to provide enterprise analytics, mobility, and
security platforms that are flexible, powerful, scalable, and
user-friendly. To learn more, visit MicroStrategy online, and
follow us on Facebook and Twitter.
MicroStrategy, MicroStrategy 10, MicroStrategy 10 Secure
Enterprise, MicroStrategy 10.2, MicroStrategy 10.3, and
MicroStrategy Analytics are either trademarks or registered
trademarks of MicroStrategy Incorporated in the United States and certain other
countries. Other product and company names mentioned herein
may be the trademarks of their respective owners.
This press release may include statements that may constitute
"forward-looking statements," including estimates of future
business prospects or financial results and statements containing
the words "believe," "estimate," "project," "expect," or similar
expressions. Forward-looking statements inherently involve risks
and uncertainties that could cause actual results of MicroStrategy
Incorporated and its subsidiaries (collectively, the "Company") to
differ materially from the forward-looking statements. Factors that
could contribute to such differences include: the extent and timing
of market acceptance of MicroStrategy's new offerings, including
MicroStrategy 10.3; the impact on our business of the
restructuring plan we adopted in the third quarter of 2014;
the Company's ability to recognize revenue or deferred revenue
through delivery of products or satisfactory performance of
services; continued acceptance of the Company's other products in
the marketplace; fluctuations in tax benefits or provisions; the
timing of significant orders; delays in or the inability of the
Company to develop or ship new products; competitive factors;
general economic conditions, including economic uncertainty in the
retail industry, in which the Company has a significant number of
customers; currency fluctuations; and other risks detailed in the
Company's registration statements and periodic reports filed with
the Securities and Exchange Commission. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release.
MSTR-F
[1] Gartner "MicroStrategy's Version 10 Blends
Agile Data Discovery With Governed BI and Analytics" by
Cindi Howson, Rita L. Sallam, Josh
Parenteau, December 11,
2015.
Contact:
MicroStrategy Incorporated
Investor Relations
ir@microstrategy.com
(703) 848-8600
|
MICROSTRATEGY
INCORPORATED
|
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
|
(in thousands,
except per share data)
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
March
31,
|
|
|
|
2016
|
|
2015
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
|
Revenues
|
|
|
|
|
|
|
Product
licenses
|
|
$
|
22,399
|
|
$
|
20,757
|
|
|
Subscription
services
|
|
7,354
|
|
6,665
|
|
|
Total product
licenses and subscription services
|
|
29,753
|
|
27,422
|
|
|
Product
support
|
|
68,497
|
|
69,305
|
|
|
Other
services
|
|
20,765
|
|
27,144
|
|
|
Total
revenues
|
|
119,015
|
|
123,871
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
|
|
|
|
|
Product
licenses
|
|
2,136
|
|
1,309
|
|
|
Subscription
services
|
|
3,092
|
|
3,379
|
|
|
Total product
licenses and subscription services
|
|
5,228
|
|
4,688
|
|
|
Product
support
|
|
3,273
|
|
3,336
|
|
|
Other
services
|
|
14,322
|
|
19,074
|
|
|
Total cost
of revenues
|
|
22,823
|
|
27,098
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
96,192
|
|
96,773
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
Sales and
marketing
|
|
36,577
|
|
36,520
|
|
|
Research and
development
|
|
17,575
|
|
15,398
|
|
|
General and
administrative
|
|
22,219
|
|
22,125
|
|
|
Restructuring
costs
|
|
25
|
|
85
|
|
|
Total
operating expenses
|
|
76,396
|
|
74,128
|
|
|
|
|
|
|
|
|
Income from
operations
|
|
19,796
|
|
22,645
|
|
|
Interest
income, net
|
|
403
|
|
2
|
|
|
Other
(expense) income, net
|
|
(1,668)
|
|
4,750
|
|
|
Income before
income taxes
|
|
18,531
|
|
27,397
|
|
|
Provision for
income taxes
|
|
4,259
|
|
6,937
|
|
|
Net
income
|
|
$
|
14,272
|
|
$
|
20,460
|
|
|
|
|
|
|
|
|
Basic earnings per
share (1):
|
|
$
|
1.25
|
|
$
|
1.81
|
|
|
Weighted average
shares outstanding used in computing basic earnings per
share
|
|
11,408
|
|
11,321
|
|
|
|
|
|
|
|
|
Diluted earnings
per share (1):
|
|
$
|
1.24
|
|
$
|
1.79
|
|
|
Weighted average
shares outstanding used in computing diluted earnings per
share
|
|
11,479
|
|
11,455
|
|
|
|
|
|
|
|
|
(1) Basic and fully
diluted earnings per share for class A and class B common stock are
the same.
|
|
|
|
|
|
|
|
|
|
|
|
MICROSTRATEGY
INCORPORATED
|
|
CONSOLIDATED
BALANCE SHEETS
|
|
(in thousands,
except per share data)
|
|
|
|
|
|
|
|
March
31,
|
|
December
31,
|
|
|
2016
|
|
2015*
|
|
Assets
|
|
(unaudited)
|
|
|
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
308,887
|
|
$
|
292,341
|
|
Restricted
cash
|
|
701
|
|
618
|
|
Short-term
investments
|
|
227,410
|
|
193,320
|
|
Accounts
receivable, net
|
|
56,558
|
|
68,154
|
|
Prepaid
expenses and other current assets
|
14,563
|
|
10,881
|
|
Total current
assets
|
|
608,119
|
|
565,314
|
|
|
|
|
|
|
Property and
equipment, net
|
|
63,228
|
|
65,664
|
|
Capitalized software
development costs, net
|
13,902
|
|
15,855
|
|
Deposits and other
assets
|
|
2,103
|
|
2,072
|
|
Deferred tax assets,
net
|
|
5,826
|
|
7,989
|
|
Total
Assets
|
|
$
|
693,178
|
|
$
|
656,894
|
|
|
|
|
|
|
Liabilities and
Stockholders' Equity
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Accounts
payable and accrued expenses
|
$
27,836
|
|
$
31,840
|
|
Accrued
compensation and employee benefits
|
36,573
|
|
40,067
|
|
Accrued
restructuring costs
|
|
33
|
|
56
|
|
Deferred
revenue and advance payments
|
131,437
|
|
100,695
|
|
Total current
liabilities
|
|
195,879
|
|
172,658
|
|
|
|
|
|
|
Deferred revenue and
advance payments
|
10,183
|
|
8,995
|
|
Other long-term
liabilities
|
|
19,252
|
|
19,943
|
|
Deferred tax
liabilities
|
|
16
|
|
17
|
|
Total
Liabilities
|
|
225,330
|
|
201,613
|
|
|
|
|
|
|
Stockholders'
Equity
|
|
|
|
|
|
Preferred
stock undesignated, $0.001 par value; 5,000 shares
authorized;
|
|
|
|
|
no shares issued or
outstanding
|
|
-
|
|
-
|
|
Class A common
stock, $0.001 par value; 330,000 shares authorized;
|
|
|
|
|
15,794 shares issued and 9,389 shares outstanding, and 15,771
shares
|
|
|
|
|
issued and 9,366 shares
outstanding, respectively
|
16
|
|
16
|
|
Class B
convertible common stock, $0.001 par value; 165,000 shares
authorized;
|
|
|
|
|
2,035 shares issued and
outstanding, and 2,035 shares issued and outstanding,
respectively
|
2
|
|
2
|
|
Additional
paid-in capital
|
|
532,284
|
|
534,651
|
|
Treasury
stock, at cost; 6,405 shares
|
(475,184)
|
|
(475,184)
|
|
Accumulated
other comprehensive loss
|
(6,746)
|
|
(7,408)
|
|
Retained
earnings
|
|
417,476
|
|
403,204
|
|
Total
Stockholders' Equity
|
|
467,848
|
|
455,281
|
|
Total Liabilities
and Stockholders' Equity
|
$
|
693,178
|
|
$
|
656,894
|
|
|
|
|
|
|
*Derived from
audited financial statements.
|
|
|
|
|
|
|
|
|
|
MICROSTRATEGY
INCORPORATED
|
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
|
(in
thousands)
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
|
|
March
31,
|
|
|
|
|
|
2016
|
|
2015
|
|
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
Operating
activities:
|
|
|
|
|
|
Net income
|
|
$
|
14,272
|
|
$
|
20,460
|
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
4,553
|
|
5,103
|
|
|
Bad debt
expense
|
|
531
|
|
364
|
|
|
Unrealized net gain
on foreign currency forward contracts
|
|
-
|
|
(949)
|
|
|
Non-cash
restructuring costs and adjustments
|
|
-
|
|
(98)
|
|
|
Deferred
taxes
|
|
688
|
|
4,788
|
|
|
Release of
liabilities for unrecognized tax benefits
|
|
-
|
|
(61)
|
|
|
Share-based
compensation expense
|
|
1,504
|
|
3,597
|
|
|
Excess tax benefits
from share-based compensation arrangements
|
|
(1,266)
|
|
(468)
|
|
Changes in operating
assets and liabilities:
|
|
|
|
|
|
|
Accounts
receivable
|
|
11,915
|
|
16,164
|
|
|
Prepaid expenses and
other current assets
|
|
(3,551)
|
|
377
|
|
|
Deposits and other
assets
|
|
4
|
|
190
|
|
|
Accounts payable and
accrued expenses
|
|
(3,093)
|
|
(6,161)
|
|
|
Accrued compensation
and employee benefits
|
|
(4,083)
|
|
(12,951)
|
|
|
Accrued restructuring
costs
|
|
(26)
|
|
(1,120)
|
|
|
Deferred revenue and
advance payments
|
|
30,065
|
|
27,620
|
|
|
Other long-term
liabilities
|
|
(686)
|
|
(1,009)
|
|
|
|
Net cash provided by
operating activities
|
|
50,827
|
|
55,846
|
|
|
|
|
|
|
|
|
|
Investing
activities:
|
|
|
|
|
|
Proceeds from
redemption of short-term investments
|
|
63,500
|
|
90,000
|
|
Purchases of property
and equipment
|
|
(193)
|
|
(1,535)
|
|
Purchases of
short-term investments
|
|
(97,417)
|
|
(118,155)
|
|
Capitalized software
development costs
|
|
-
|
|
(5,354)
|
|
Increase in
restricted cash
|
|
(56)
|
|
(80)
|
|
|
|
Net cash used in
investing activities
|
|
(34,166)
|
|
(35,124)
|
|
|
|
|
|
|
|
|
|
Financing
activities:
|
|
|
|
|
|
Proceeds from sale of
class A common stock under exercise of employee stock
options
|
|
241
|
|
1,467
|
|
Payment of taxes
relating to net exercise of employee stock options
|
|
(3,739)
|
|
-
|
|
Excess tax benefits
from share-based compensation arrangements
|
|
1,266
|
|
468
|
|
Payments on capital
lease obligations and other financing arrangements
|
|
(122)
|
|
(164)
|
|
|
|
Net cash (used in)
provided by financing activities
|
|
(2,354)
|
|
1,771
|
|
|
|
|
|
|
|
|
|
Effect of foreign
exchange rate changes on cash and cash equivalents
|
|
2,239
|
|
(4,318)
|
|
Net increase in
cash and cash equivalents
|
|
16,546
|
|
18,175
|
|
Cash and cash
equivalents, beginning of period
|
|
292,341
|
|
146,919
|
|
Cash and cash
equivalents, end of period
|
|
$
|
308,887
|
|
$
|
165,094
|
|
|
|
|
|
|
|
|
|
|
MICROSTRATEGY
INCORPORATED
|
|
REVENUE AND COST
OF REVENUE DETAIL
|
|
(in
thousands)
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
March
31,
|
|
|
|
2016
|
|
2015
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
|
Revenues
|
|
|
|
|
|
|
Product licenses and
subscription services:
|
|
|
|
|
|
|
Product licenses
|
|
$
|
22,399
|
|
$
|
20,757
|
|
|
Subscription services
|
|
7,354
|
|
6,665
|
|
|
Total
product licenses and subscription services
|
|
29,753
|
|
27,422
|
|
|
Product
support
|
|
68,497
|
|
69,305
|
|
|
Other
services:
|
|
|
|
|
|
|
Consulting
|
|
18,486
|
|
24,704
|
|
|
Education
|
|
2,279
|
|
2,440
|
|
|
Total
other services
|
|
20,765
|
|
27,144
|
|
|
Total
revenues
|
|
119,015
|
|
123,871
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
|
|
|
|
|
Product licenses and
subscription services:
|
|
|
|
|
|
|
Product licenses
|
|
2,136
|
|
1,309
|
|
|
Subscription services
|
|
3,092
|
|
3,379
|
|
|
Total
product licenses and subscription services
|
|
5,228
|
|
4,688
|
|
|
Product
support
|
|
3,273
|
|
3,336
|
|
|
Other
services:
|
|
|
|
|
|
|
Consulting
|
|
13,033
|
|
18,147
|
|
|
Education
|
|
1,289
|
|
927
|
|
|
Total
other services
|
|
14,322
|
|
19,074
|
|
|
Total
cost of revenues
|
|
22,823
|
|
27,098
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
$
|
96,192
|
|
$
|
96,773
|
|
|
|
|
|
|
|
|
MICROSTRATEGY
INCORPORATED
|
|
DEFERRED REVENUE
DETAIL
|
|
(in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March
31,
|
|
December
31,
|
|
March
31,
|
|
|
2016
|
|
2015*
|
|
2015
|
|
|
(unaudited)
|
|
|
|
(unaudited)
|
|
Current:
|
|
|
|
|
|
|
|
Deferred product
licenses revenue
|
|
$
|
13,088
|
|
$
|
13,506
|
|
$
|
12,946
|
|
Deferred subscription
services revenue
|
|
17,593
|
|
15,763
|
|
15,300
|
|
Deferred product
support revenue
|
|
164,667
|
|
158,738
|
|
162,875
|
|
Deferred other
services revenue
|
|
7,411
|
|
9,149
|
|
7,966
|
|
Gross
current deferred revenue and advance payments
|
|
202,759
|
|
197,156
|
|
199,087
|
|
Less: unpaid deferred
revenue
|
|
(71,322)
|
|
(96,461)
|
|
(67,619)
|
|
Net
current deferred revenue and advance payments
|
|
$
|
131,437
|
|
$
|
100,695
|
|
$
|
131,468
|
|
|
|
|
|
|
|
|
Non-current:
|
|
|
|
|
|
|
|
Deferred product
licenses revenue
|
|
$
|
7,573
|
|
$
|
5,397
|
|
$
|
6,863
|
|
Deferred subscription
services revenue
|
|
2,340
|
|
2,138
|
|
735
|
|
Deferred product
support revenue
|
|
6,425
|
|
7,607
|
|
6,865
|
|
Deferred other
services revenue
|
|
755
|
|
795
|
|
2,124
|
|
Gross
non-current deferred revenue and advance payments
|
|
17,093
|
|
15,937
|
|
16,587
|
|
Less: unpaid deferred
revenue
|
|
(6,910)
|
|
(6,942)
|
|
(5,221)
|
|
Net
non-current deferred revenue and advance payments
|
|
$
|
10,183
|
|
$
|
8,995
|
|
$
|
11,366
|
|
|
|
|
|
|
|
|
Total current and
non-current:
|
|
|
|
|
|
|
|
Deferred product
licenses revenue
|
|
$
|
20,661
|
|
$
|
18,903
|
|
$
|
19,809
|
|
Deferred subscription
services revenue
|
|
19,933
|
|
17,901
|
|
16,035
|
|
Deferred product
support revenue
|
|
171,092
|
|
166,345
|
|
169,740
|
|
Deferred other
services revenue
|
|
8,166
|
|
9,944
|
|
10,090
|
|
Gross
current and non-current deferred revenue and advance
payments
|
|
219,852
|
|
213,093
|
|
215,674
|
|
Less: unpaid deferred
revenue
|
|
(78,232)
|
|
(103,403)
|
|
(72,840)
|
|
Net
current and non-current deferred revenue and advance
payments
|
|
$
|
141,620
|
|
$
|
109,690
|
|
$
|
142,834
|
|
|
|
|
|
|
|
|
*Derived from
audited financial statements.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MICROSTRATEGY
INCORPORATED
|
|
RECONCILIATION OF
GAAP TO NON-GAAP MEASURES
|
|
(in
thousands)
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
|
March
31,
|
|
|
|
|
2016
|
|
2015
|
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
Reconciliation of
non-GAAP income from operations:
|
|
|
|
|
|
|
Income from
operations
|
|
$
|
19,796
|
|
$
|
22,645
|
|
|
Share-based
compensation expense
|
|
1,504
|
|
3,597
|
|
|
Restructuring
costs
|
|
25
|
|
85
|
|
|
Non-GAAP income from
operations
|
|
$
|
21,325
|
|
$
|
26,327
|
|
|
|
|
|
|
|
|
|
MICROSTRATEGY
INCORPORATED
|
|
|
WORLDWIDE EMPLOYEE
HEADCOUNT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March
31,
|
|
June
30,
|
|
September
30,
|
|
December
31,
|
|
March
31,
|
|
|
|
|
2015
|
|
2015
|
|
2015
|
|
2015
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subscription
services
|
|
43
|
|
37
|
|
33
|
|
37
|
|
37
|
|
|
Product
support
|
|
138
|
|
130
|
|
127
|
|
131
|
|
135
|
|
|
Consulting
|
|
554
|
|
508
|
|
480
|
|
467
|
|
455
|
|
|
Education
|
|
19
|
|
25
|
|
27
|
|
28
|
|
31
|
|
|
Sales and
marketing
|
|
577
|
|
515
|
|
507
|
|
513
|
|
531
|
|
|
Research and
development
|
|
580
|
|
508
|
|
464
|
|
461
|
|
499
|
|
|
General and
administrative
|
|
321
|
|
303
|
|
301
|
|
310
|
|
317
|
|
|
Total
headcount
|
|
2,232
|
|
2,026
|
|
1,939
|
|
1,947
|
|
2,005
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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visit:http://www.prnewswire.com/news-releases/microstrategy-announces-first-quarter-2016-financial-results-300258766.html
SOURCE MicroStrategy Incorporated