Financial Data
SUMMARY FINANCIAL DATA
Six Months
Year Ended December 31, Ended June 30,
----------------------- ----------------
1996 1997 1998 1998 1999
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(in thousands, except per share data)
(unaudited)
Statement of Operations Data:
Revenues:
License............................. $ 1,895 $ 5,262 $23,432 $ 6,548 $17,165
Service............................. 3,170 6,283 19,144 6,775 14,971
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Total revenues.................... 5,065 11,545 42,576 13,323 32,136
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Cost of revenues:
License............................. 69 223 1,298 423 900
Service............................. 1,090 3,302 14,803 4,727 11,690
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Total cost of revenues............ 1,159 3,525 16,101 5,150 12,590
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Gross profit......................... 3,906 8,020 26,475 8,173 19,546
Total operating expenses............. 3,325 7,955 26,983 9,752 18,476
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Income (loss) from operations........ $ 581 $ 65 $ (508) $(1,579) $ 1,070
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Net income (loss).................... $ 648 $ 120 $ (186) $(1,312) $ 716
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Earnings (loss) per share:
Basic............................... $ 0.11 $ 0.02 $ (0.03) $ (0.23) $ 0.12
Diluted............................. $ 0.06 $ 0.01 $ (0.03) $ (0.23) $ 0.05
Weighted-average shares outstanding:
Basic............................... 5,702 5,705 5,736 5,711 5,852
Diluted............................. 11,220 12,472 5,736 5,711 15,627
The following table presents our summary balance sheet at June 30, 1999. The
pro forma balance sheet data reflect the conversion of our preferred stock
outstanding as of June 30, 1999 into 8,122,653 shares of common stock and the
pro forma as adjusted data reflect our sale of shares of our common stock
in this offering at an assumed initial public offering price of $ per share
and the application of the estimated net proceeds.
As of June 30, 1999
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Pro Forma
Actual Pro Forma As Adjusted
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(in thousands)
(unaudited)
Balance Sheet Data:
Cash and cash equivalents......................... $11,222 $11,222 $
Working capital................................... 9,963 9,963
Total current liabilities......................... 18,431 18,431
Redeemable convertible preferred stock............ 12,610 --
Total stockholders' equity........................ 2,587 15,197
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