LinkedIn 2012 Annual Report Download - page 44

Download and view the complete annual report

Please find page 44 of the 2012 LinkedIn annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 110

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110

2009 and 2008 are derived from audited consolidated financial statements not included in this report. Our
historical results are not necessarily indicative of the results to be expected in the future.
Year Ended December 31,
2012 2011 2010 2009 2008
(in thousands, except per share data)
Consolidated Statements of Operations Data:
Net revenue ............................ $972,309 $522,189 $243,099 $120,127 $78,773
Costs and expenses:
Cost of revenue (exclusive of depreciation and
amortization shown separately below) ....... 125,521 81,448 44,826 25,857 18,589
Sales and marketing ..................... 324,896 164,703 58,978 26,847 16,986
Product development .................... 257,179 132,222 65,104 39,444 29,366
General and administrative ................ 128,002 74,871 35,064 19,480 12,976
Depreciation and amortization ............. 79,849 43,100 19,551 11,854 6,365
Total costs and expenses ............... 915,447 496,344 223,523 123,482 84,282
Income (loss) from operations ............... 56,862 25,845 19,576 (3,355) (5,509)
Other income (expense), net ................. 252 (2,903) (610) 230 1,277
Income (loss) before income taxes ............ 57,114 22,942 18,966 (3,125) (4,232)
Provision for income taxes .................. 35,504 11,030 3,581 848 290
Net income (loss) ........................ $ 21,610 $ 11,912 $ 15,385 $ (3,973) $(4,522)
Net income (loss) attributable to common
stockholders ........................... $ 21,610 $ 11,912 $ 3,429 $ (3,973) $(4,522)
Net income (loss) per share attributable to
common stockholders:
Basic .............................. $ 0.21 $ 0.15 $ 0.08 $ (0.10) $ (0.11)
Diluted ............................. $ 0.19 $ 0.11 $ 0.07 $ (0.10) $ (0.11)
Weighted-average shares used to compute net
income (loss) per share attributable to common
stockholders:
Basic .............................. 105,166 77,185 42,446 41,184 42,389
Diluted ............................. 112,844 104,118 46,459 41,184 42,389
Other Financial and Operational Data:
Adjusted EBITDA(1) ...................... $223,030 $ 98,713 $ 47,959 $ 14,651 $ 5,461
Number of registered members (at period end) . . . 201,912 144,974 90,437 55,111 32,307
(1) We define adjusted EBITDA as net income (loss), plus: provision for income taxes, other (income)
expense, net, depreciation and amortization, and stock-based compensation. Please see ‘‘Adjusted
EBITDA’’ below for more information and for a reconciliation of adjusted EBITDA to net income
(loss), the most directly comparable financial measure calculated and presented in accordance with
U.S. generally accepted accounting principles, or GAAP.
42