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Delaware
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001- 35551
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20-1665019
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(State or Other Jurisdiction
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(Commission
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(IRS Employer
|
of Incorporation)
|
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File Number)
|
|
Identification No.)
|
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1601 Willow Road
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Menlo Park, California
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94025
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(Address of Principal Executive Offices)
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(Zip Code)
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Exhibit Number
|
|
Exhibit Title or Description
|
99.1
|
|
Press release dated November 4, 2015
|
|
|
|
|
|
|
|
|
FACEBOOK, INC.
|
|
|
|
|
|
|
Date:
|
November 4, 2015
|
|
By:
|
/s/ Colin S. Stretch
|
|
|
|
|
Name: Colin S. Stretch
|
|
|
|
|
Title: Vice President, General Counsel, and Secretary
|
Exhibit Number
|
|
Exhibit Title or Description
|
99.1
|
|
Press release dated November 4, 2015
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
In millions, except percentages and per share amounts
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Revenue
|
$
|
4,501
|
|
|
$
|
3,203
|
|
|
$
|
12,087
|
|
|
$
|
8,615
|
|
Income from Operations
|
|
|
|
|
|
|
|
||||||||
GAAP
|
$
|
1,459
|
|
|
$
|
1,397
|
|
|
$
|
3,665
|
|
|
$
|
3,861
|
|
Non-GAAP*
|
$
|
2,410
|
|
|
$
|
1,820
|
|
|
$
|
6,478
|
|
|
$
|
4,987
|
|
Operating Margin
|
|
|
|
|
|
|
|
||||||||
GAAP
|
32
|
%
|
|
44
|
%
|
|
30
|
%
|
|
45
|
%
|
||||
Non-GAAP*
|
54
|
%
|
|
57
|
%
|
|
54
|
%
|
|
58
|
%
|
||||
Net Income
|
|
|
|
|
|
|
|
||||||||
GAAP
|
$
|
896
|
|
|
$
|
806
|
|
|
$
|
2,127
|
|
|
$
|
2,239
|
|
Non-GAAP*
|
$
|
1,628
|
|
|
$
|
1,149
|
|
|
$
|
4,253
|
|
|
$
|
3,194
|
|
Diluted Earnings per Share (EPS)
|
|
|
|
|
|
|
|
||||||||
GAAP
|
$
|
0.31
|
|
|
$
|
0.30
|
|
|
$
|
0.75
|
|
|
$
|
0.86
|
|
Non-GAAP*
|
$
|
0.57
|
|
|
$
|
0.43
|
|
|
$
|
1.50
|
|
|
$
|
1.22
|
|
•
|
Daily active users (DAUs)
– DAUs were
1.01 billion
on average for
September 2015
, an increase of
17%
year-over-year.
|
•
|
Mobile DAUs
– Mobile DAUs were
894 million
on average for
September 2015
, an increase of
27%
year-over-year.
|
•
|
Monthly active users (MAUs)
– MAUs were
1.55 billion
as of
September 30, 2015
, an increase of
14%
year-over-year.
|
•
|
Mobile MAUs
– Mobile MAUs were
1.39 billion
as of
September 30, 2015
, an increase of
23%
year-over-year.
|
|
GAAP
|
|
Year-over-Year % Change
|
|||||||
|
Three Months Ended September 30,
|
|
||||||||
In millions, except percentages and per share amounts
|
2015
|
|
2014
|
|
||||||
Revenue:
|
|
|
|
|
|
|||||
Advertising
(1)
|
$
|
4,299
|
|
|
$
|
2,957
|
|
|
45
|
%
|
Payments and other fees
|
202
|
|
|
246
|
|
|
(18
|
)%
|
||
Total revenue
(2)
|
4,501
|
|
|
3,203
|
|
|
41
|
%
|
||
Total costs and expenses
|
3,042
|
|
|
1,806
|
|
|
68
|
%
|
||
Income from operations
|
$
|
1,459
|
|
|
$
|
1,397
|
|
|
4
|
%
|
Operating margin
|
32
|
%
|
|
44
|
%
|
|
|
|||
Provision for income taxes
|
536
|
|
|
|
|
|
||||
Effective tax rate
|
37
|
%
|
|
|
|
|
||||
Net income
|
$
|
896
|
|
|
$
|
806
|
|
|
11
|
%
|
Diluted EPS
|
$
|
0.31
|
|
|
$
|
0.30
|
|
|
3
|
%
|
|
NON-GAAP
|
|
Year-over-Year % Change
|
|||||||
|
Three Months Ended September 30,
|
|
||||||||
In millions, except percentages and per share amounts
|
2015
|
|
2014
|
|
||||||
GAAP revenue
|
$
|
4,501
|
|
|
$
|
3,203
|
|
|
41
|
%
|
Total costs and expenses
|
2,091
|
|
|
1,383
|
|
|
51
|
%
|
||
Income from operations
|
$
|
2,410
|
|
|
$
|
1,820
|
|
|
32
|
%
|
Operating margin
|
54
|
%
|
|
57
|
%
|
|
|
|||
Effective tax rate
|
32
|
%
|
|
|
|
|
||||
Net income
|
$
|
1,628
|
|
|
$
|
1,149
|
|
|
42
|
%
|
Diluted EPS
|
$
|
0.57
|
|
|
$
|
0.43
|
|
|
33
|
%
|
•
|
Mobile advertising revenue
– Mobile advertising revenue represented approximately
78%
of advertising revenue for the
third
quarter of
2015
, up from
66%
of advertising revenue in the
third
quarter of
2014
.
|
•
|
Capital expenditures
– Capital expenditures for the
third
quarter of
2015
were $
780 million
.
|
•
|
Cash and cash equivalents and marketable securities
– Cash and cash equivalents and marketable securities were
$15.83 billion
at the end of the
third
quarter of
2015
.
|
•
|
Free cash flow
– Free cash flow for the
third
quarter of
2015
was $
1.41 billion
.
|
FACEBOOK, INC.
|
|||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
|
|||||||||||||||
(In millions, except for per share amounts)
|
|||||||||||||||
(Unaudited)
|
|||||||||||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Revenue
|
$
|
4,501
|
|
|
$
|
3,203
|
|
|
$
|
12,087
|
|
|
$
|
8,615
|
|
Costs and expenses:
|
|
|
|
|
|
|
|
||||||||
Cost of revenue
|
720
|
|
|
565
|
|
|
2,043
|
|
|
1,501
|
|
||||
Research and development
|
1,271
|
|
|
608
|
|
|
3,502
|
|
|
1,555
|
|
||||
Marketing and sales
|
706
|
|
|
374
|
|
|
1,953
|
|
|
1,055
|
|
||||
General and administrative
|
345
|
|
|
259
|
|
|
924
|
|
|
643
|
|
||||
Total costs and expenses
|
3,042
|
|
|
1,806
|
|
|
8,422
|
|
|
4,754
|
|
||||
Income from operations
|
1,459
|
|
|
1,397
|
|
|
3,665
|
|
|
3,861
|
|
||||
Interest and other income/(expense), net
|
(27
|
)
|
|
(61
|
)
|
|
(28
|
)
|
|
(65
|
)
|
||||
Income before provision for income taxes
|
1,432
|
|
|
1,336
|
|
|
3,637
|
|
|
3,796
|
|
||||
Provision for income taxes
|
536
|
|
|
530
|
|
|
1,510
|
|
|
1,557
|
|
||||
Net income
|
$
|
896
|
|
|
$
|
806
|
|
|
$
|
2,127
|
|
|
$
|
2,239
|
|
Less: Net income attributable to participating securities
|
5
|
|
|
4
|
|
|
12
|
|
|
10
|
|
||||
Net income attributable to Class A and Class B common stockholders
|
$
|
891
|
|
|
$
|
802
|
|
|
$
|
2,115
|
|
|
$
|
2,229
|
|
Earnings per share attributable to Class A and Class B common stockholders:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
0.32
|
|
|
$
|
0.31
|
|
|
$
|
0.76
|
|
|
$
|
0.87
|
|
Diluted
|
$
|
0.31
|
|
|
$
|
0.30
|
|
|
$
|
0.75
|
|
|
$
|
0.86
|
|
Weighted average shares used to compute earnings per share attributable to Class A and Class B common stockholders:
|
|
|
|
|
|
|
|
||||||||
Basic
|
2,808
|
|
|
2,587
|
|
|
2,796
|
|
|
2,565
|
|
||||
Diluted
|
2,863
|
|
|
2,644
|
|
|
2,848
|
|
|
2,616
|
|
||||
Share-based compensation expense included in costs and expenses:
|
|
|
|
|
|
|
|
||||||||
Cost of revenue
|
$
|
21
|
|
|
$
|
16
|
|
|
$
|
59
|
|
|
$
|
44
|
|
Research and development
|
598
|
|
|
243
|
|
|
1,767
|
|
|
643
|
|
||||
Marketing and sales
|
82
|
|
|
53
|
|
|
236
|
|
|
146
|
|
||||
General and administrative
|
56
|
|
|
41
|
|
|
161
|
|
|
108
|
|
||||
Total share-based compensation expense
|
$
|
757
|
|
|
$
|
353
|
|
|
$
|
2,223
|
|
|
$
|
941
|
|
Payroll tax expenses related to share-based compensation included in costs and expenses:
|
|
|
|
|
|
|
|
||||||||
Cost of revenue
|
$
|
—
|
|
|
$
|
1
|
|
|
$
|
2
|
|
|
$
|
3
|
|
Research and development
|
10
|
|
|
6
|
|
|
34
|
|
|
27
|
|
||||
Marketing and sales
|
2
|
|
|
1
|
|
|
8
|
|
|
7
|
|
||||
General and administrative
|
2
|
|
|
3
|
|
|
7
|
|
|
7
|
|
||||
Total payroll tax expenses related to share-based compensation
|
$
|
14
|
|
|
$
|
11
|
|
|
$
|
51
|
|
|
$
|
44
|
|
Amortization of intangible assets included in costs and expenses:
|
|
|
|
|
|
|
|
||||||||
Cost of revenue
|
$
|
44
|
|
|
$
|
26
|
|
|
$
|
133
|
|
|
$
|
42
|
|
Research and development
|
10
|
|
|
9
|
|
|
29
|
|
|
25
|
|
||||
Marketing and sales
|
102
|
|
|
1
|
|
|
307
|
|
|
3
|
|
||||
General and administrative
|
24
|
|
|
23
|
|
|
70
|
|
|
71
|
|
||||
Total amortization of intangible assets
|
$
|
180
|
|
|
$
|
59
|
|
|
$
|
539
|
|
|
$
|
141
|
|
FACEBOOK, INC.
|
|||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS
|
|||||||||
(In millions)
|
|||||||||
(Unaudited)
|
|||||||||
|
|
|
September 30, 2015
|
|
December 31, 2014
|
||||
Assets
|
|
|
|
||||||
Current assets:
|
|
|
|
||||||
|
Cash and cash equivalents
|
$
|
4,308
|
|
|
$
|
4,315
|
|
|
|
Marketable securities
|
11,526
|
|
|
6,884
|
|
|||
|
Accounts receivable, net of allowances for doubtful accounts of $55 and $39 as of September 30, 2015 and December 31, 2014, respectively
|
2,010
|
|
|
1,678
|
|
|||
|
Prepaid expenses and other current assets
|
1,295
|
|
|
793
|
|
|||
|
|
Total current assets
|
19,139
|
|
|
13,670
|
|
||
Property and equipment, net
|
5,335
|
|
|
3,967
|
|
||||
Intangible assets, net
|
3,437
|
|
|
3,929
|
|
||||
Goodwill
|
18,024
|
|
|
17,981
|
|
||||
Other assets
|
534
|
|
|
637
|
|
||||
Total assets
|
$
|
46,469
|
|
|
$
|
40,184
|
|
||
|
|
|
|
|
|
||||
Liabilities and stockholders' equity
|
|
|
|
||||||
Current liabilities:
|
|
|
|
||||||
|
Accounts payable
|
$
|
149
|
|
|
$
|
176
|
|
|
|
Partners payable
|
241
|
|
|
202
|
|
|||
|
Accrued expenses and other current liabilities
|
1,338
|
|
|
866
|
|
|||
|
Deferred revenue and deposits
|
47
|
|
|
66
|
|
|||
|
Current portion of capital lease obligations
|
17
|
|
|
114
|
|
|||
|
|
Total current liabilities
|
1,792
|
|
|
1,424
|
|
||
Capital lease obligations, less current portion
|
109
|
|
|
119
|
|
||||
Other liabilities
|
3,148
|
|
|
2,545
|
|
||||
|
|
Total liabilities
|
5,049
|
|
|
4,088
|
|
||
Stockholders' equity
|
|
|
|
||||||
|
Common stock and additional paid-in capital
|
33,574
|
|
|
30,225
|
|
|||
|
Accumulated other comprehensive loss
|
(380
|
)
|
|
(228
|
)
|
|||
|
Retained earnings
|
8,226
|
|
|
6,099
|
|
|||
|
|
Total stockholders' equity
|
41,420
|
|
|
36,096
|
|
||
Total liabilities and stockholders' equity
|
$
|
46,469
|
|
|
$
|
40,184
|
|
FACEBOOK, INC.
|
|||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|||||||||||||||
(In millions)
|
|||||||||||||||
(Unaudited)
|
|||||||||||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Cash flows from operating activities
|
|
|
|
|
|
|
|
||||||||
Net income
|
$
|
896
|
|
|
$
|
806
|
|
|
$
|
2,127
|
|
|
$
|
2,239
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
|
|
||||||||
Depreciation and amortization
|
486
|
|
|
289
|
|
|
1,402
|
|
|
810
|
|
||||
Share-based compensation
|
757
|
|
|
353
|
|
|
2,214
|
|
|
941
|
|
||||
Deferred income taxes
|
(383
|
)
|
|
4
|
|
|
(672
|
)
|
|
(30
|
)
|
||||
Tax benefit from share-based award activity
|
346
|
|
|
479
|
|
|
1,155
|
|
|
1,354
|
|
||||
Excess tax benefit from share-based award activity
|
(346
|
)
|
|
(482
|
)
|
|
(1,155
|
)
|
|
(1,365
|
)
|
||||
Other
|
6
|
|
|
(3
|
)
|
|
13
|
|
|
(26
|
)
|
||||
Changes in assets and liabilities:
|
|
|
|
|
|
|
|
||||||||
Accounts receivable
|
(207
|
)
|
|
(182
|
)
|
|
(405
|
)
|
|
(264
|
)
|
||||
Prepaid expenses and other current assets
|
(55
|
)
|
|
(55
|
)
|
|
(145
|
)
|
|
(45
|
)
|
||||
Other assets
|
29
|
|
|
(176
|
)
|
|
4
|
|
|
(158
|
)
|
||||
Accounts payable
|
(9
|
)
|
|
(57
|
)
|
|
7
|
|
|
12
|
|
||||
Partners payable
|
59
|
|
|
(17
|
)
|
|
40
|
|
|
(22
|
)
|
||||
Accrued expenses and other current liabilities
|
50
|
|
|
123
|
|
|
291
|
|
|
198
|
|
||||
Deferred revenue and deposits
|
(1
|
)
|
|
(12
|
)
|
|
(18
|
)
|
|
3
|
|
||||
Other liabilities
|
564
|
|
|
178
|
|
|
914
|
|
|
227
|
|
||||
Net cash provided by operating activities
|
2,192
|
|
|
1,248
|
|
|
5,772
|
|
|
3,874
|
|
||||
Cash flows from investing activities
|
|
|
|
|
|
|
|
||||||||
Purchases of property and equipment
|
(780
|
)
|
|
(482
|
)
|
|
(1,831
|
)
|
|
(1,314
|
)
|
||||
Purchases of marketable securities
|
(4,773
|
)
|
|
(1,733
|
)
|
|
(10,333
|
)
|
|
(6,215
|
)
|
||||
Sales of marketable securities
|
1,399
|
|
|
5,423
|
|
|
4,125
|
|
|
7,391
|
|
||||
Maturities of marketable securities
|
848
|
|
|
636
|
|
|
1,563
|
|
|
1,710
|
|
||||
Acquisitions of businesses, net of cash acquired, and purchases of intangible assets
|
(27
|
)
|
|
(735
|
)
|
|
(309
|
)
|
|
(754
|
)
|
||||
Change in restricted cash and deposits
|
33
|
|
|
(111
|
)
|
|
77
|
|
|
(113
|
)
|
||||
Other investing activities, net
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Net cash (used in) provided by investing activities
|
(3,300
|
)
|
|
2,997
|
|
|
(6,708
|
)
|
|
703
|
|
||||
Cash flows from financing activities
|
|
|
|
|
|
|
|
||||||||
Taxes paid related to net share settlement
|
(8
|
)
|
|
—
|
|
|
(20
|
)
|
|
(3
|
)
|
||||
Proceeds from exercise of stock options
|
—
|
|
|
5
|
|
|
—
|
|
|
7
|
|
||||
Principal payments on capital lease obligations
|
(23
|
)
|
|
(49
|
)
|
|
(107
|
)
|
|
(199
|
)
|
||||
Excess tax benefit from share-based award activity
|
346
|
|
|
482
|
|
|
1,155
|
|
|
1,365
|
|
||||
Net cash provided by financing activities
|
315
|
|
|
438
|
|
|
1,028
|
|
|
1,170
|
|
||||
Effect of exchange rate changes on cash and cash equivalents
|
(22
|
)
|
|
(68
|
)
|
|
(99
|
)
|
|
(71
|
)
|
||||
Net (decrease) increase in cash and cash equivalents
|
(815
|
)
|
|
4,615
|
|
|
(7
|
)
|
|
5,676
|
|
||||
Cash and cash equivalents at beginning of period
|
5,123
|
|
|
4,384
|
|
|
4,315
|
|
|
3,323
|
|
||||
Cash and cash equivalents at end of period
|
$
|
4,308
|
|
|
$
|
8,999
|
|
|
$
|
4,308
|
|
|
$
|
8,999
|
|
FACEBOOK, INC.
|
|||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|||||||||||||||
(In millions)
|
|||||||||||||||
(Unaudited)
|
|||||||||||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Supplemental cash flow data
|
|
|
|
|
|
|
|
||||||||
Cash paid during the period for:
|
|
|
|
|
|
|
|
||||||||
Interest
|
$
|
3
|
|
|
$
|
3
|
|
|
$
|
8
|
|
|
$
|
11
|
|
Income taxes, net
|
$
|
40
|
|
|
$
|
42
|
|
|
$
|
199
|
|
|
$
|
101
|
|
Non-cash investing and financing activities:
|
|
|
|
|
|
|
|
||||||||
Net change in accounts payable, accrued expenses and other current liabilities, and other liabilities related to property and equipment additions
|
$
|
(87
|
)
|
|
$
|
20
|
|
|
$
|
107
|
|
|
$
|
38
|
|
Fair value of shares issued related to acquisitions of businesses
|
$
|
—
|
|
|
$
|
1,368
|
|
|
$
|
—
|
|
|
$
|
1,368
|
|
Promissory note payable issued in connection with an acquisition
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
198
|
|
|
$
|
—
|
|
Reconciliation of Non-GAAP Results to Nearest GAAP Measures
|
|||||||||||||||
(In millions, except percentages and per share amounts)
|
|||||||||||||||
(Unaudited)
|
|||||||||||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
GAAP revenue
|
$
|
4,501
|
|
|
$
|
3,203
|
|
|
$
|
12,087
|
|
|
$
|
8,615
|
|
Foreign exchange effect on 2015 revenue using 2014 rates
|
342
|
|
|
|
|
863
|
|
|
|
||||||
Revenue excluding foreign exchange effect
|
$
|
4,843
|
|
|
|
|
$
|
12,950
|
|
|
|
||||
GAAP revenue year-over-year change %
|
41
|
%
|
|
|
|
40
|
%
|
|
|
||||||
Revenue excluding foreign exchange effect year-over-year change %
|
51
|
%
|
|
|
|
50
|
%
|
|
|
||||||
GAAP advertising revenue
|
$
|
4,299
|
|
|
$
|
2,957
|
|
|
$
|
11,442
|
|
|
$
|
7,898
|
|
Foreign exchange effect on 2015 advertising revenue using 2014 rates
|
342
|
|
|
|
|
863
|
|
|
|
||||||
Advertising revenue excluding foreign exchange effect
|
$
|
4,641
|
|
|
|
|
$
|
12,305
|
|
|
|
||||
GAAP advertising revenue year-over-year change %
|
45
|
%
|
|
|
|
45
|
%
|
|
|
||||||
Advertising revenue excluding foreign exchange effect year-over-year change %
|
57
|
%
|
|
|
|
56
|
%
|
|
|
||||||
GAAP costs and expenses
|
$
|
3,042
|
|
|
$
|
1,806
|
|
|
$
|
8,422
|
|
|
$
|
4,754
|
|
Share-based compensation expense
|
(757
|
)
|
|
(353
|
)
|
|
(2,223
|
)
|
|
(941
|
)
|
||||
Payroll tax expenses related to share-based compensation
|
(14
|
)
|
|
(11
|
)
|
|
(51
|
)
|
|
(44
|
)
|
||||
Amortization of intangible assets
|
(180
|
)
|
|
(59
|
)
|
|
(539
|
)
|
|
(141
|
)
|
||||
Non-GAAP costs and expenses
|
$
|
2,091
|
|
|
$
|
1,383
|
|
|
$
|
5,609
|
|
|
$
|
3,628
|
|
GAAP income from operations
|
$
|
1,459
|
|
|
$
|
1,397
|
|
|
$
|
3,665
|
|
|
$
|
3,861
|
|
Share-based compensation expense
|
757
|
|
|
353
|
|
|
2,223
|
|
|
941
|
|
||||
Payroll tax expenses related to share-based compensation
|
14
|
|
|
11
|
|
|
51
|
|
|
44
|
|
||||
Amortization of intangible assets
|
180
|
|
|
59
|
|
|
539
|
|
|
141
|
|
||||
Non-GAAP income from operations
|
$
|
2,410
|
|
|
$
|
1,820
|
|
|
$
|
6,478
|
|
|
$
|
4,987
|
|
GAAP net income
|
$
|
896
|
|
|
$
|
806
|
|
|
$
|
2,127
|
|
|
$
|
2,239
|
|
Share-based compensation expense
|
757
|
|
|
353
|
|
|
2,223
|
|
|
941
|
|
||||
Payroll tax expenses related to share-based compensation
|
14
|
|
|
11
|
|
|
51
|
|
|
44
|
|
||||
Amortization of intangible assets
|
180
|
|
|
59
|
|
|
539
|
|
|
141
|
|
||||
Income tax adjustments
|
(219
|
)
|
|
(80
|
)
|
|
(687
|
)
|
|
(171
|
)
|
||||
Non-GAAP net income
|
$
|
1,628
|
|
|
$
|
1,149
|
|
|
$
|
4,253
|
|
|
$
|
3,194
|
|
GAAP and Non-GAAP diluted shares
|
2,863
|
|
|
2,644
|
|
|
2,848
|
|
|
2,616
|
|
||||
GAAP diluted earnings per share
|
$
|
0.31
|
|
|
$
|
0.30
|
|
|
$
|
0.75
|
|
|
$
|
0.86
|
|
Net income attributable to participating securities
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.01
|
)
|
||||
Non-GAAP adjustments to net income
|
0.26
|
|
|
0.13
|
|
|
0.75
|
|
|
0.37
|
|
||||
Non-GAAP diluted earnings per share
|
$
|
0.57
|
|
|
$
|
0.43
|
|
|
$
|
1.50
|
|
|
$
|
1.22
|
|
GAAP operating margin
|
32
|
%
|
|
44
|
%
|
|
30
|
%
|
|
45
|
%
|
||||
Share-based compensation expense
|
17
|
%
|
|
11
|
%
|
|
18
|
%
|
|
11
|
%
|
||||
Payroll tax expenses related to share-based compensation
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
1
|
%
|
||||
Amortization of intangible assets
|
4
|
%
|
|
2
|
%
|
|
4
|
%
|
|
2
|
%
|
||||
Non-GAAP operating margin
|
54
|
%
|
|
57
|
%
|
|
54
|
%
|
|
58
|
%
|
||||
GAAP income before provision for income taxes
|
$
|
1,432
|
|
|
$
|
1,336
|
|
|
$
|
3,637
|
|
|
$
|
3,796
|
|
GAAP provision for income taxes
|
536
|
|
|
530
|
|
|
1,510
|
|
|
1,557
|
|
||||
GAAP effective tax rate
|
37
|
%
|
|
40
|
%
|
|
42
|
%
|
|
41
|
%
|
||||
GAAP income before provision for income taxes
|
$
|
1,432
|
|
|
$
|
1,336
|
|
|
$
|
3,637
|
|
|
$
|
3,796
|
|
Share-based compensation and related payroll tax expenses
|
771
|
|
|
364
|
|
|
2,274
|
|
|
985
|
|
||||
Amortization of intangible assets
|
180
|
|
|
59
|
|
|
539
|
|
|
141
|
|
||||
Non-GAAP income before provision for income taxes
|
$
|
2,383
|
|
|
$
|
1,759
|
|
|
$
|
6,450
|
|
|
$
|
4,922
|
|
Non-GAAP provision for income taxes
|
755
|
|
|
610
|
|
|
2,197
|
|
|
1,728
|
|
||||
Non-GAAP effective tax rate
|
32
|
%
|
|
35
|
%
|
|
34
|
%
|
|
35
|
%
|
||||
Net cash provided by operating activities
|
$
|
2,192
|
|
|
$
|
1,248
|
|
|
$
|
5,772
|
|
|
$
|
3,874
|
|
Purchases of property and equipment
|
(780
|
)
|
|
(482
|
)
|
|
(1,831
|
)
|
|
(1,314
|
)
|
||||
Free cash flow
|
$
|
1,412
|
|
|
$
|
766
|
|
|
$
|
3,941
|
|
|
$
|
2,560
|
|