Rosetta Stone 2009 Annual Report Download - page 76
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Table of Contents
ROSETTA STONE INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
As of December 31,
2009 2008
Assets
Current assets:
Cash and cash equivalents $ 95,188 $ 30,626
Restricted cash 50 34
Accounts receivable (net of allowance for doubtful accounts of $1,349 and $1,103, respectively) 37,400 26,497
Inventory, net 8,984 4,912
Prepaid expenses and other current assets 7,447 6,598
Deferred income taxes 6,020 2,282
Total current assets 155,089 70,949
Property and equipment, net 18,374 15,727
Goodwill 34,838 34,199
Intangible assets, net 10,704 10,645
Deferred income taxes 5,565 6,828
Other assets 872 470
Total assets $225,442 $138,818
Liabilities and stockholders' equity
Current liabilities:
Accounts payable $ 1,605 $ 3,207
Accrued compensation 10,463 8,570
Other current liabilities 25,638 20,021
Deferred revenue 24,291 14,382
Income tax payable 4,184 1,332
Current maturities of long-term debt—related party (Note 9) — 4,250
Total current liabilities 66,181 51,762
Long-term debt—related party (Note 9) — 5,660
Deferred revenue 1,815 1,362
Other long-term liabilities 1,011 963
Total liabilities 69,007 59,747
Commitments and contingencies (Note 14)
Stockholders' equity:
Class A, Series A-1 Convertible Preferred Stock, $0.001 par value; zero and 269 shares authorized; zero and 269 shares
issued and outstanding, liquidation preference of zero and $26,876 at December 31, 2009 and December 31, 2008,
respectively — 26,876
Class A, Series A-2 Convertible Preferred Stock, $0.001 par value; zero and 178 shares authorized; zero and 178 shares
issued and outstanding, liquidation preference of zero and $17,820 at December 31, 2009 and December 31, 2008,
respectively — 17,820
Class B Convertible Preferred Stock, $0.001 par value; zero and 115 shares authorized; zero and 111 issued and outstanding,
liquidation preference of zero and $11,341 at December 31, 2009 and 2008, respectively — 11,341
Preferred Stock, $0.001 par value; 10,000 and zero shares authorized; zero and zero shares issued and outstanding at
December 31, 2009 and December 31, 2008, respectively — —
Class A Convertible Common Stock, $0.00005 par value; zero and 900 shares authorized; zero and zero shares issued and
outstanding at December 31, 2009 and 2008, respectively — —
Class B Convertible Common Stock,$0.00005 par value; zero and 20,000 shares authorized; zero and zero shares issued and
outstanding at December 31, 2009 and 2008, respectively — —
Non-designated common stock, $0.00005 par value, 190,000 and 39,100 shares authorized, 20,440 and 1,936 shares issued
and outstanding at December 31, 2009 and December 31, 2008, respectively 2 1
Additional paid-in capital 130,872 10,814
Accumulated income 25,785 12,422
Accumulated other comprehensive loss (224) (203)
Total stockholders' equity 156,435 79,071
Total liabilities and stockholders' equity $225,442 $138,818
See accompanying notes to consolidated financial statements.
F-3