Rosetta Stone 2015 Annual Report Download - page 27
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Table of Contents
Revenue
$ 217,670
$ 261,853
$ 264,645
$ 273,241
$ 268,449
Gross profit
179,143
208,799
218,931
224,331
219,333
Loss from operations
(43,813)
(78,850)
(18,442)
(5,266)
(27,858)
Net loss
(46,796)
(73,706)
(16,134)
(33,985)
(19,650)
Loss per share attributable to common stockholders:
Basic
$ (2.17)
$ (3.47)
$ (0.75)
$ (1.61)
$ (0.95)
Diluted
$ (2.17)
$ (3.47)
$ (0.75)
$ (1.61)
$ (0.95)
Total stock-based compensation expense
$ 7,195
$ 6,762
$ 9,241
$ 8,009
$ 12,353
Total intangible amortization expense
$ 5,192
$ 6,263
$ 1,822
$ 40
$ 85
_______________________________________________________________________________
(1) As discussed in Notes 1 and 13 of Item 8, , the Company announced and initiated restructuring
actions in the first quarter of 2015 to focus on the Enterprise & Education business and optimize the Consumer business for profitability. Under this
initiative, the Company began headcount and cost reductions to areas including Consumer sales and marketing, Consumer product investment, and
general and administrative functions.
(2) As discussed in Note 5 of Item 8, , the Company acquired Vivity Labs, Inc. on January 2, 2014 and
Tell Me More S.A. on January 9, 2014. The results of operations from these entities have been included from the acquisition date.
(3) As discussed in Note 5 of Item 8, , the Company acquired Livemocha, Inc. on April 1, 2013 and
acquired Lexia Learning Systems, Inc. on August 1, 2013. The results of operations from these entities have been included from the acquisition date.
(4) The Company established a full valuation allowance to reduce the deferred tax assets of the Korea, Brazil, Japan and U.S. subsidiaries. The
establishment of the valuation allowance resulted in a non-cash charge of $29.7 million during the year ended December 31, 2012.
(5) On January 4, 2011 the Company's Board of Directors approved the Rosetta Stone Inc. Long Term Incentive Program ("LTIP") and then
subsequently cancelled the LTIP on November 30, 2011, resulting in $4.9 million additional operating expense.
Cash and cash equivalents
$ 47,782
$ 64,657
$ 98,825
$ 148,190
$ 106,516
Total assets (6)
228,543
288,173
290,776
279,405
280,090
Total deferred revenue
142,748
128,169
78,857
63,416
51,895
Notes payable and capital lease obligation
3,143
3,748
242
5
12
Total stockholders' equity
$ 22,410
$ 63,445
$ 131,243
$ 148,194
$ 172,951
(6) As discussed in Note 2 to Item 8, , the Company early adopted Accounting Standards Update No.
2015-17 in the fourth quarter of 2015, which included the retrospective reclassification of all deferred tax assets and liabilities as non-current on the
Company's consolidated balance sheets.
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