Financial Data
SUMMARY CONSOLIDATED FINANCIAL DATA
(IN THOUSANDS, EXCEPT PER SHARE DATA)
YEAR ENDED SEPTEMBER SIX MONTHS ENDED
30, MARCH 31,
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1997 1998 1998 1999
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(UNAUDITED)
CONSOLIDATED STATEMENT OF OPERATIONS DATA:
Total revenues.............................$ 760 $ 8,363 $ 1,215 $ 16,338
Gross profit (loss)........................ (180) 6,825 688 13,579
Operating expenses......................... 4,772 18,346 6,255 21,894
Loss from operations....................... (4,952) (11,521) (5,567) (8,315)
Net loss................................... (4,679) (10,953) (5,299) (8,128)
Basic and diluted net loss per share.......$ (7.31) $ (1.90) $ (1.19) $ (.84)
Weighted average shares used in
computing basic and diluted
net loss per share...................... 640 5,762 4,456 9,694
Pro forma basic and diluted
net loss per share...................... $ (.29)
Shares used in computing pro forma
basic and diluted net loss per share.... 28,064
Shares used in computing pro forma basic and diluted net loss per share
include the shares used in computing basic and diluted net loss per share
adjusted for the conversion of preferred stock to common stock, as if the
conversion occurred at the date of original issuance, and the exercise of a
warrant for 524,400 shares of common stock, as if the exercise occurred on
October 1, 1998.
The following table presents actual summary consolidated balance sheet data
at March 31, 1999, and as adjusted consolidated balance sheet data which has
been adjusted to reflect the conversion of convertible preferred stock
outstanding at March 31, 1999 into 17,845,176 shares of common stock, the
exercise of a warrant to purchase 524,400 shares of common stock at an exercise
price of $3.30 per share and the sale of shares of common stock at an
assumed initial public offering price of $ per share and the application of
the estimated net proceeds. See "Use of Proceeds" and "Capitalization."
MARCH 31, 1999
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ACTUAL AS ADJUSTED
--------- -----------
(UNAUDITED)
CONSOLIDATED BALANCE SHEET DATA:
Cash, cash equivalents and short-term investments... $ 21,433 $
Working capital..................................... 3,843
Total assets........................................ 35,055
Long-term debt, net of current portion.............. 646
Total stockholders' equity.......................... 7,650
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