Pandora 2016 Annual Report Download - page 12

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SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INDUSTRY DATA
This Annual Report on Form€10-K contains "forward-looking statements" that involve substantial risks and
uncertainties. The statements contained in this Annual Report on Form€10-K that are not purely historical are forward-looking
statements within the meaning of Section€27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section€21E
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including, but not limited to, statements regarding
our expectations, beliefs, intentions, strategies, future operations, future financial position, future revenue, projected expenses
and plans and objectives of management. In some cases, you can identify forward-looking statements by terms such as
"anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "project," "will," "would," "should," "could,"
"can," "predict," "potential," "continue," "objective," or the negative of these terms, and similar expressions intended to
identify forward-looking statements. However, not all forward-looking statements contain these identifying words. These
forward-looking statements reflect our current views about future events and involve known risks, uncertainties and other
factors that may cause our actual results, levels of activity, performance or achievement to be materially different from those
expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but
are not limited to, those identified below, and those discussed in the section titled "Risk Factors" included in this Annual Report
on Form€10-K. Furthermore, such forward-looking statements speak only as of the date of this report. Except as required by
law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of
such statements. We qualify all of our forward-looking statements by these cautionary statements. In addition, the industry in
which we operate is subject to a high degree of uncertainty and risk due to a variety of factors including those described in the
section entitled "Risk Factors." These and other factors could cause our results to differ materially from those expressed in this
Annual Report on Form€10-K.
Some of the industry and market data contained in this Annual Report on Form€10-K are based on independent industry
publications, including those generated by Triton Digital Media or "Triton" and International Data Corporation or "IDC" or
other publicly available information. This information involves a number of assumptions and limitations. Although we believe
that each source is reliable as of its respective date, we have not independently verified the accuracy or completeness of this
information.
As used herein, "Pandora," the "Company," "we," "our," and similar terms refer to Pandora Media,€Inc. and, where
appropriate, its wholly owned subsidiaries, unless the context indicates otherwise.
"Pandora" and other trademarks of ours appearing in this report are our property. This report contains additional trade
names and trademarks of other companies. We do not intend our use or display of other companies' trade names or trademarks
to imply an endorsement or sponsorship of us by such companies, or any relationship with any of these companies.
EXPLANATORY NOTE REGARDING THE ANNUAL REPORT
We changed our fiscal year from the twelve months ending January€31 to the calendar twelve months ending
December€31, effective beginning with the year ended December€31, 2013. As a result, the period ended December 31, 2013
was shortened from twelve months to an eleven-month transition period.
When financial results for the 2014 annual period are compared to financial results for the 2013 period, the results
compare the twelve-month period ended December 31, 2014 and the eleven-month period ended December 31, 2013.
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