LinkedIn 2013 Annual Report Download - page 48

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2010 and 2009 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,
2013 2012 2011 2010 2009
(in thousands, except per share data)
Consolidated Statements of Operations Data:
Net revenue .......................... $1,528,545 $972,309 $522,189 $243,099 $120,127
Costs and expenses:
Cost of revenue (exclusive of depreciation
and amortization shown separately below) . 202,908 125,521 81,448 44,826 25,857
Sales and marketing ................... 522,100 324,896 164,703 58,978 26,847
Product development .................. 395,643 257,179 132,222 65,104 39,444
General and administrative .............. 225,566 128,002 74,871 35,064 19,480
Depreciation and amortization ........... 134,516 79,849 43,100 19,551 11,854
Total costs and expenses ............. 1,480,733 915,447 496,344 223,523 123,482
Income (loss) from operations ............. 47,812 56,862 25,845 19,576 (3,355)
Other income (expense), net .............. 1,416 252 (2,903) (610) 230
Income (loss) before income taxes .......... 49,228 57,114 22,942 18,966 (3,125)
Provision for income taxes ................ 22,459 35,504 11,030 3,581 848
Net income (loss) ...................... $ 26,769 $ 21,610 $ 11,912 $ 15,385 $ (3,973)
Net income (loss) attributable to common
stockholders ......................... $ 26,769 $ 21,610 $ 11,912 $ 3,429 $ (3,973)
Net income (loss) per share attributable to
common stockholders:
Basic ............................ $ 0.24 $ 0.21 $ 0.15 $ 0.08 $ (0.10)
Diluted ........................... $ 0.23 $ 0.19 $ 0.11 $ 0.07 $ (0.10)
Weighted-average shares used to compute net
income (loss) per share attributable to
common stockholders:
Basic ............................ 113,643 105,166 77,185 42,446 41,184
Diluted ........................... 118,944 112,844 104,118 46,459 41,184
Other Financial and Operational Data:
Adjusted EBITDA(1) .................... $ 376,243 $223,030 $ 98,713 $ 47,959 $ 14,651
Number of registered members (at period end) . 276,842 201,912 144,974 90,437 55,111
(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.
46