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Possible New Amazon Facility in West Plains

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Construction underway on possible new Amazon facility in West Plains

The construction also comes as the online retail giant talked about wanting to establish all parts of its supply chain here in Spokane County.

SPOKANE COUNTY, Washington – Construction in the West Plains is fueling speculation about a possible new Amazon facility.

None of the permit applications obtained by KREM mentioned Amazon, but they refer to the site at 6125 South Hayford Road as “Project Gray,” which is similar to how Amazon has handled permit applications in Spokane County in the past.

The site is adjacent to the current Amazon Fulfillment Center in the West Plains. A press release sent by Amazon as the company expanded its air operations to the Spokane International Airport referred to plans to open a “new sorting center and delivery station” in the West Plains.

“We announced that we are launching a delivery station and sorting center, or what we call a sorting center, just around the corner from our recently launched fulfillment center,” said Chris Preston, Amazon Air Gateway Operations Director, in October. .

The construction also comes as the online retail giant talked about wanting to establish all parts of its supply chain here in Spokane County.

“Now when we talk about that supply chain, end-to-end supply chain in the Spokane region, we have fulfillment centers, we have Amazon Air, we have our sorting centers, and we have our last-mile delivery station,” Preston said in October. “So really the investment in the Spokane area, to make sure we can support our customers, it’s really great to see.”

The project currently underway in the West Plains is called “Project Gray” in permit applications, as are codenames “Project Fireball” and “Project Rose,” which have turned out to be two other Amazon facilities in Spokane County.

Permit applications for the work being done in the West Plains state that the warehouse and office building will be a one-story building, 40 feet high with just over 278,000 square feet in space. An application for a state environmental policy law states that the site will create about 700 jobs.

If the site turns out to be a different Amazon site, it could lead to faster delivery times, according to statements Amazon has made in the past.

“Eventually, if we add a drop-off station here, which is the stations with the Amazon vans that do direct deliveries, that really speeds up to the point where we can have same-day shipping. For now I’d say it’s just going to get faster.” said Joe Wistos, General Manager of the Amazon GEG 2 site in Spokane Valley in September.

KREM has contacted Amazon several times about the construction in the West Plains, but we haven’t heard back.

https://www.youtube.com/watch?v=videoseries

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Windy weather comes before a winter storm

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Windy weather comes before a winter storm

Grant’s Wednesday Night Forecast

NEW MEXICO (KRQE) — Strong winds will develop in parts of New Mexico Wednesday night as our first official winter storm of the season arrives Thursday night. Heavy snowfall is possible for the mountains of southern Colorado and far northern New Mexico.

Winds will begin to pick up over New Mexico tonight as a fast-moving jet stream enters the state. High wind warnings are in effect for the Sangre de Cristo Mountains, where gusts of up to 65 mph are possible. Tonight wind advisories are in effect for areas east of the Sandias and Manzanos where gusts of 55 mph are possible.

Winds will continue in New Mexico on Thursday as our first official winter storm of the season approaches the state. Rain and snow will begin in the mountains of northwestern New Mexico and southern Colorado on Thursday evening. Rain and snow will move east through Friday morning, but moisture will move east.

Light rain is possible in the Albuquerque metro Friday morning, while light snow is possible in areas such as Farmington, Santa Fe, Grants, Gallup, Las Vegas and the East Mountains. Strong winds will continue statewide, especially Friday morning, where gusts over 45 mph can reach most of the state, and gusts over 65 mph will be possible in eastern New Mexico, which also sees dust. can blow.

Few travel problems are to be expected with this storm system. Mountain passes in northern and western New Mexico, along with southern Colorado, will face the biggest travel problems due to snow and drifting snow. Winds in the eastern half of the state could also cause some travel problems Friday morning.

Much colder weather, the coldest of the season so far, will move into Saturday morning and Saturday afternoon. High pressure will cause temperatures to rise above average again early next week. By the middle of next week, another storm system may be on the horizon.

.

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Detroit Public TV host Christy McDonald leaves station

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Longtime 97.1 The Ticket host Jamie Samuelsen, his wife and PBS Detroit anchor, Christy McDonald, and their three children.  Samuelsen died in 2020 after a 19-month battle with colon cancer.  He was 48.

Christy McDonald, a reporter and anchor at Detroit’s PBS affiliate, is leaving her job next month, she announced Wednesday.

The award-winning journalist said she’s had “a little too much change for my liking for the past 3 years. Cancer, a pandemic, grief, all this time raising three teenagers is pretty tough,” she said in a post on her website. “But as I struggled to keep balance on life’s stability ball, I’m coming to terms with the need for change that pushes us further than we thought we could ever do.”

In 2020, her husband, sports media personality Jamie Samuelsen, died after battling colon cancer.

McDonald, who grew up in Troy, wrote on Wednesday that the decision not to renew her contract with Detroit Public Television after a 10-year relationship came after “months of reflection.”

Longtime 97.1 The Ticket host Jamie Samuelsen, his wife and PBS Detroit anchor, Christy McDonald, and their three children.  Samuelsen died in 2020 after a 19-month battle with colon cancer.  He was 48.

“… It’s time to learn more, time for new opportunities and new thinking,” she said. “I look forward to using my skills to lead important conversations, raise women’s voices in leadership, and tell more stories about our changing community.”

According to her website, she is the editor-in-chief of A Detroit, a weekly political/news analysis show, and has appeared on the PBS NewsHour and CNN, reporting on Michigan politics and the Detroit financial crisis.

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Udemy Reports Third Quarter 2021 Results

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Udemy Reports Third Quarter 2021 Results

Udemy Business Revenue Up 84% Year over Year, With ARR of $207 Million

SAN FRANCISCO, Dec. 08, 2021 (GLOBE NEWSWIRE) — Udemy (Nasdaq: UDMY), a leading destination for learning and teaching online, today reported results for the third quarter ended September 30, 2021.

“We’re proud of our progress this quarter in carrying out our mission of connecting people everywhere with the knowledge and skills needed to succeed in a changing world,” said Gregg Coccari, chief executive officer. “Our differentiated marketplace model enables us to continuously deliver high-quality and relevant content across in-demand skills in local languages to our global customers. As a result of increasing demand for upskilling and reskilling in workplaces around the world, revenue for Udemy Business grew 84% year over year and ending ARR exceeded $200M. As learners, instructors, and companies face an accelerating pace of change, Udemy is well-positioned to provide the critical skills people need to succeed in today’s workplace.”

“We are very pleased with the results in the quarter, particularly with the strong performance of Udemy Business, where more than 9,500 businesses and their employees turned to Udemy to help them upskill and reskill,” said Sarah Blanchard, chief financial officer. “Our overall revenue was up 9% year over year, despite our consumer business facing an extraordinary year-over-year comparison given accelerated growth during the early waves of the pandemic last year. We are excited about the future as we continue to execute against our huge global market opportunity.”

Third Quarter 2021 Financial Results and Key Operating Data:

  • Revenue totaled $129.6 million, up 9% year over year.

  • GAAP net income (loss) was ($9.3 million) compared to $1.9 million in the third quarter of fiscal 2020. GAAP net income (loss) per share was ($0.25), compared to $0.05 in the third quarter of fiscal 2020.

  • Non-GAAP net income (loss) was ($1.7 million) compared to $4.7 million in the third quarter of fiscal 2020. Non-GAAP net income (loss) per share was ($0.04) compared to $0.14 in the third quarter of fiscal 2020.

  • GAAP gross profit was $71.6 million, compared to $69.5 million in the third quarter of fiscal 2020.

  • Non-GAAP gross profit was $72.2 million, compared to $69.6 million in the third quarter of fiscal 2020.

  • Adjusted EBITDA was $1.6 million, compared to $8.1 million in the third quarter of fiscal 2020.

  • Consumer revenue totaled $79.2 million, down (13%) year over year.

  • Udemy Business revenue totaled $50.4 million, up 84% year over year.

  • Consumer segment monthly average buyers was 1,263 thousand, down (6%) year over year.

  • Udemy Business segment annual recurring revenue was $207.4 million, up 80% year over year.

  • Udemy Business total customers was 9,592 as of September 30, 2021, up 42% year over year.

  • Udemy Business net dollar retention rate was 118% compared to 119% in the third quarter of fiscal 2020.

  • Consumer segment gross profit was $42.0 million compared to $53.3 million in the third quarter of fiscal 2020.

  • Udemy Business segment gross profit was $32.9 million compared to $18.2 million in the third quarter of fiscal 2020.

Third Quarter Highlights:

  • Added new Udemy Business customers across key verticals including Alcoa, Mitsubishi Chemical, and Carvana, a leading e-commerce platform for buying and selling used cars. Notable expansions included Computacenter PLC, Michelin (Manufacture Francaise des Pneumatiques Michelin), Momentum Metropolitan, and Mercado Libre.

  • Launched Udemy Business Pro, which features labs and assessments in a number of technology verticals and acquired CorpU, which specializes in cohort-based leadership training for Fortune 500 companies.

  • Incorporated new machine learning capabilities to enhance search functionality, provide even more personalized recommendations to individual learners, and improve conversion and retention within the consumer business.

  • Expanded international reach via key partnerships, including launching partnerships with Woongjin ThinkBig, one of the largest Korean education companies, Sanjieke in China, and MultiChoice Group in Sub-Saharan Africa.

  • Ranked by Sustainalytics in the first percentile for ESG risk ratings in the Internet Software and Services sub-industry as of July 2021.

  • Continued to fulfill a commitment to democratizing education globally with millions of users accessing more than 18,000 free courses on Udemy.

  • Completed an Initial Public Offering on the NASDAQ stock market, raising more than $400 million in proceeds.

2021 Financial Outlook:

Udemy provides guidance based on current market conditions and expectations; actual results may differ materially. Please refer to the comments below regarding forward-looking statements.

The table below reflects Udemy’s financial outlook for its fourth quarter and fiscal year ended December 31, 2021:

Q4’21

FY21

Revenue

$130.0 – 134.0 million

$510.2 – 514.2 million

Adjusted EBITDA

$(28.5) – (24.5) million

$(31.4) – (27.3) million

Adjusted EBITDA Margin

(22.0%) – (18.3%)

(6.2%) – (5.3%)

Webcast Information
Udemy will host a webcast at 2:00 pm Pacific Time on Wednesday, December 8, to discuss its third quarter 2021 financial results, as well as its fourth quarter 2021 outlook. The live webcast will be accessible on Udemy’s website at investors.udemy.com. A webcast replay will be available approximately two hours after the conclusion of the live event.

Non-GAAP Financial Measures

To supplement the condensed consolidated financial statements prepared and presented in accordance with U.S. generally accepted accounting principles (“GAAP”), Udemy’s key non-GAAP performance measures include Adjusted EBITDA. We calculate Adjusted EBITDA as net loss (income) determined in accordance with GAAP, excluding by i) interest expense (income), net; ii) provision for (benefit from) income taxes; iii) depreciation and amortization; iv) other expense (income), net, including gains and losses from the remeasurement of foreign currency assets and liabilities into their functional currency and v) non-cash stock-based compensation expense. We have not reconciled our expectations for Adjusted EBITDA to net loss, the most directly comparable GAAP measure, because certain items are out of our control or cannot be reasonably predicted and a reconciliation for the guidance for Adjusted EBITDA is not available without unreasonable effort. As Adjusted EBITDA facilitates internal comparisons of our historical operating performance on a more consistent basis, we use this measure for business planning purposes. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and board of directors. In addition, it provides a useful measure for period-to-period comparisons of our business, as it removes the effect of certain non-cash expenses and certain variable charges. Udemy’s non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial measures determined in accordance with GAAP. Because of the limitations of non-GAAP financial measures, you should consider the non-GAAP financial measures presented herein in conjunction with Udemy’s financial statements and the related notes thereto. Please refer to the non-GAAP reconciliations in this press release for a reconciliation of these non-GAAP financial measures to the most comparable financial measure prepared in accordance with GAAP.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding Udemy’s expectations relating to future operating results and financial position, including the fourth quarter of 2021 and future periods, anticipated future expenses and investments, our business strategy and plans, market growth, our market position and potential market opportunities, and the impact of acquisitions and business alliances. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements.

Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance.

The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption “Risk Factors” and elsewhere in our filings with the Securities and Exchange Commission (“SEC”), including, without limitation, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the SEC on December 8, 2021. All information provided in this release is as of the date hereof, and we undertake no duty to update this information unless required by law.

Third Party Data

This press release contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legaldisclaimers.

About Udemy
Udemy’s (Nasdaq: UDMY) mission is to create new possibilities for people and organizations everywhere by connecting them to the knowledge and skills they need to succeed in a changing world. The Udemy marketplace platform, with thousands of up-to-date courses in dozens of languages, provides the tools learners, instructors, and enterprises need to achieve their goals and reach their full potential. Millions of people learn on Udemy from real-world experts in topics ranging from programming and data science to leadership and team building. For companies, Udemy Business offers an employee training and development platform with subscription access to thousands of courses, learning analytics, and the ability to host and distribute their own content. Udemy Business customers include Glassdoor, On24, The World Bank, and Volkswagen. Udemy is headquartered in San Francisco with hubs in Ankara, Turkey; Austin, Texas; Boston, Massachusetts; Mountain View, California; Denver, Colorado; Dublin, Ireland; Melbourne, Australia; New Delhi, India; and Sao Paulo, Brazil.

Udemy, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2020

2021

2020

2021

(in thousands, except per share amounts)

Revenue

$

118,436

129,563

$

319,804

380,206

Cost of revenue (1)(2)

48,926

57,986

153,596

171,902

Gross profit

69,510

71,577

166,208

208,304

Operating expenses (1)(2)

Sales and marketing

46,045

52,258

142,221

156,399

Research and development

11,945

16,703

36,240

46,898

General and administrative

8,996

12,166

35,031

41,969

Total operating expenses

66,986

81,127

213,492

245,266

Income (loss) from operations

2,524

(9,550

)

(47,284

)

(36,962

)

Other income (expense)

Interest expense, net

(64

)

(61

)

(1,078

)

(452

)

Other income (expense), net

(100

)

(196

)

38

(714

)

Total other expense, net

(164

)

(257

)

(1,040

)

(1,166

)

Net income (loss) before taxes

2,360

(9,807

)

(48,324

)

(38,128

)

Income tax (provision) benefit

(495

)

545

(2,261

)

(514

)

Net income (loss) attributable to common stockholders

1,865

(9,262

)

(50,585

)

(38,642

)

Net income (loss) per share attributable to common stockholders

Basic

$

0.05

$

(0.25

)

$

(1.54

)

$

(1.04

)

Diluted

$

0.02

$

(0.25

)

$

(1.54

)

$

(1.04

)

Weighted-average shares used in computing net income (loss) per share attributable to common stockholders

Basic

34,016,248

37,740,586

32,746,492

37,068,570

Diluted

123,842,757

37,740,586

32,746,492

37,068,570

(1) Includes stock-based compensation expense as follows (in thousands):

Three Months Ended September 30,

Nine Months Ended September 30,

2020

2021

2020

2021

Cost of revenue

$

62

$

350

$

253

$

888

Sales and marketing

509

2,149

5,931

5,784

Research and development

733

1,304

3,917

4,445

General and administrative

1,545

3,417

13,351

12,587

Total stock-based compensation expense

$

2,849

$

7,220

$

23,452

$

23,704

(2) Includes amortization of intangible assets as follows (in thousands):

Three Months Ended September 30,

Nine Months Ended September 30,

2020

2021

2020

2021

Cost of revenue

$

$

293

$

$

293

Sales and marketing

97

97

Udemy, Inc.
Condensed Consolidated Balance Sheets
(in thousands, except per share amounts)
(unaudited)

December 31,

September 30,

2020

2021

Assets

Current assets:

Cash and cash equivalents

$

175,031

$

130,178

Accounts receivable, net of allowance for doubtful accounts of $643 and $707 as of December 31, 2020 and September 30, 2021, respectively.

46,257

40,655

Prepaid expenses and other current assets

6,036

17,678

Deferred contract costs, current

9,640

17,438

Total current assets

236,964

205,949

Property and equipment, net

9,106

10,590

Capitalized software, net

14,013

18,544

Restricted cash, non-current

2,900

2,900

Deferred contract costs, non-current

16,197

21,859

Intangible assets, net

14,710

Goodwill

12,646

Other assets

2,916

2,757

Total assets

$

282,096

$

289,955

Liabilities, redeemable convertible preferred stock, and stockholders’ deficit

Current liabilities:

Accounts payable

$

23,710

26,220

Accrued expenses and other current liabilities

46,778

39,660

Content costs payable

31,483

30,582

Accrued compensation and benefits

20,403

14,633

Deferred revenue

141,439

165,858

Total current liabilities

263,813

276,953

Deferred revenue, non-current

937

1,362

Other liabilities, non-current

3,927

4,181

Total liabilities

268,677

282,496

Redeemable convertible preferred stock

274,104

274,267

Stockholders’ deficit:

Common stock

Additional paid-in capital

117,818

150,337

Accumulated deficit

(378,503

)

(417,145

)

Total stockholders’ deficit

(260,685

)

(266,808

)

Total liabilities, redeemable convertible preferred stock, and stockholders’ deficit

$

282,096

$

289,955

Udemy, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)

Nine Months Ended September 30,

2020

2021

Cash flows from operating activities:

Net loss

$

(50,585

)

$

(38,642

)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

7,812

10,400

Amortization of deferred sales commissions

4,995

11,995

Stock-based compensation

23,452

23,704

Provision for doubtful accounts

147

324

Change in fair value of warrant liability

39

Changes in operating assets and liabilities:

Accounts receivable, prepaid expenses and other assets

(6,907

)

(537

)

Deferred contract costs

(10,367

)

(25,455

)

Accounts payable, accrued expenses and other liabilities

(1,192

)

(13,455

)

Content costs payable

313

(989

)

Deferred revenue

22,650

23,234

Net cash used in operating activities

(9,643

)

(9,421

)

Cash flows from investing activities:

Purchases of property and equipment

(3,945

)

(4,554

)

Capitalized software costs

(6,749

)

(9,767

)

Payments related to business combinations, net of cash acquired

(24,490

)

Net cash used in investing activities

(10,694

)

(38,811

)

Cash flows from financing activities:

Net proceeds from exercise of stock options

7,944

7,619

Net proceeds from issuance of redeemable convertible preferred stock

39,948

2

Payment of redeemable convertible preferred stock issuance costs

(2,250

)

Payment of deferred offering costs

(1,992

)

Net cash provided by financing activities

47,892

3,379

Net increase (decrease) in cash, cash equivalents and restricted cash

27,555

(44,853

)

Cash, cash equivalents and restricted cash—Beginning of period

51,751

177,931

Cash, cash equivalents and restricted cash—End of period

$

79,306

$

133,078

Udemy, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(in thousands, except per share amounts)
(unaudited)

Three Months Ended September 30, 2021

GAAP

Stock-Based
Compensation

Amortization of
Intangible Assets

Non-GAAP

(in thousands, except per share amounts)

Revenue

$

129,563

$

$

$

129,563

Cost of revenue

57,986

(350

)

(293

)

57,343

Gross profit

71,577

350

293

72,220

Operating expenses

Sales and marketing

52,258

(2,149

)

(97

)

50,012

Research and development

16,703

(1,304

)

15,399

General and administrative

12,166

(3,417

)

8,749

Total operating expenses

81,127

(6,870

)

(97

)

74,160

Income (loss) from operations

(9,550

)

7,220

390

(1,940

)

Other income (expense)

Interest expense, net

(61

)

(61

)

Other income (expense), net

(196

)

(196

)

Total other expense, net

(257

)

(257

)

Net income (loss) before taxes

(9,807

)

7,220

390

(2,197

)

Income tax (provision) benefit

545

545

Net income (loss) attributable to common stockholders

$

(9,262

)

$

7,220

$

390

$

(1,652

)

Net income (loss) per share attributable to common stockholders

Basic and diluted

$

(0.25

)

$

(0.04

)

Weighted-average shares used in computing net income (loss) per share attributable to common stockholders

37,740,586

37,740,586

Nine Months Ended September 30, 2021

GAAP

Stock-Based
Compensation

Amortization of
Intangible Assets

Non-GAAP

(in thousands, except per share amounts)

Revenue

$

380,206

$

$

$

380,206

Cost of revenue

171,902

(888

)

(293

)

170,721

Gross profit

208,304

888

293

209,485

Operating expenses

Sales and marketing

156,399

(5,784

)

(97

)

150,518

Research and development

46,898

(4,445

)

42,453

General and administrative

41,969

(12,587

)

29,382

Total operating expenses

245,266

(22,816

)

(97

)

222,353

Income (loss) from operations

(36,962

)

23,704

390

(12,868

)

Other income (expense)

Interest expense, net

(452

)

(452

)

Other income (expense), net

(714

)

(714

)

Total other expense, net

(1,166

)

(1,166

)

Net income (loss) before taxes

(38,128

)

23,704

390

(14,034

)

Income tax (provision) benefit

(514

)

(514

)

Net income (loss) attributable to common stockholders

$

(38,642

)

$

23,704

$

390

$

(14,548

)

Net income (loss) per share attributable to common stockholders

Basic and diluted

$

(1.04

)

$

(0.39

)

Weighted-average shares used in computing net income (loss) per share attributable to common stockholders

37,068,570

37,068,570

Three Months Ended September 30, 2020

GAAP

Stock Based
Compensation

Non-GAAP

(in thousands, except per share amounts)

Revenue

$

118,436

$

$

118,436

Cost of revenue

48,926

(62

)

48,864

Gross profit

69,510

62

69,572

Operating expenses

Sales and marketing

46,045

(509

)

45,536

Research and development

11,945

(733

)

11,212

General and administrative

8,996

(1,545

)

7,451

Total operating expenses

66,986

(2,787

)

64,199

Income (loss) from operations

2,524

2,849

5,373

Other income (expense)

Interest expense, net

(64

)

(64

)

Other income (expense), net

(100

)

(100

)

Total other expense, net

(164

)

(164

)

Net income (loss) before taxes

2,360

2,849

5,209

Income tax (provision) benefit

(495

)

(495

)

Net income (loss) attributable to common stockholders

$

1,865

$

2,849

$

4,714

Net income (loss) per share attributable to common stockholders

Basic

$

0.05

$

0.14

Diluted

$

0.02

$

0.04

Weighted-average shares used in computing net income (loss) per share attributable to common stockholders

Basic

34,016,248

34,016,248

Diluted

123,842,757

123,842,757

Nine Months Ended September 30, 2020

GAAP

Stock Based
Compensation

Non-GAAP

(in thousands, except per share amounts)

Revenue

$

319,804

$

$

319,804

Cost of revenue

153,596

(253

)

153,343

Gross profit

166,208

253

166,461

Operating expenses

Sales and marketing

142,221

(5,931

)

136,290

Research and development

36,240

(3,917

)

32,323

General and administrative

35,031

(13,351

)

21,680

Total operating expenses

213,492

(23,199

)

190,293

Income (loss) from operations

(47,284

)

23,452

(23,832

)

Other income (expense)

Interest expense, net

(1,078

)

(1,078

)

Other income (expense), net

38

38

Total other expense, net

(1,040

)

(1,040

)

Net income (loss) before taxes

(48,324

)

23,452

(24,872

)

Income tax (provision) benefit

(2,261

)

(2,261

)

Net income (loss) attributable to common stockholders

$

(50,585

)

$

23,452

$

(27,133

)

Net income (loss) per share attributable to common stockholders

Basic and diluted

$

(1.54

)

$

(0.83

)

Weighted-average shares used in computing net income (loss) per share attributable to common stockholders

32,746,492

32,746,492

Three Months Ended September 30,

Nine Months Ended September 30,

2020

2021

2020

2021

Net income (loss)

$

1,865

$

(9,262

)

$

(50,585

)

$

(38,642

)

Adjusted to exclude the following:

Interest expense, net

(64

)

(61

)

(1,078

)

(452

)

Provision (benefit) for income taxes

(495

)

545

(2,261

)

(514

)

Depreciation and amortization

2,741

3,943

7,812

10,400

Stock-based compensation expense

2,849

7,220

23,452

23,704

Other expense (income), net

(100

)

(196

)

38

(714

)

Adjusted EBITDA

$

8,114

$

1,613

$

(16,020

)

$

(2,858

)

Contacts

Media:
Shannon Hughes
Vice President, Corporate Communications
[email protected]

Investors:
Willa McManmon
Managing Director, The Blueshirt Group
[email protected]

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