TiVo 2006 Annual Report Download - page 44

Table of Contents
Fiscal Year Ended January 31,
2007 2006 2005 2004 2003
(in thousands, except per share data)
Consolidated Statement of Operations Data:
Revenues
Service revenues $ 198,924 $ 167,194 $ 107,166 $ 61,560 $ 39,261
Technology revenues 19,061 3,665 8,310 15,797 20,909
Hardware revenues 88,740 72,093 111,275 72,882 45,620
Rebates, revenue share, and other payment to channel* (48,136) (47,027) (54,696) (9,159) (9,780)
Net revenues 258,589 195,925 172,055 141,080 96,010
Cost and Expenses
Cost of service revenues 43,328 34,179 29,360 17,705 17,119
Cost of technology revenues 16,849 782 6,575 13,609 8,033
Cost of hardware revenues 112,212 86,817 120,323 74,836 44,647
Research and development 50,728 41,087 37,634 22,167 20,714
Sales and marketing* 42,955 35,047 37,367 18,947 48,117
General and administrative 44,813 38,018 16,593 16,296 14,465
Loss from operations (52,296) (40,005) (75,797) (22,480) (57,085)
Interest income 4,767 3,084 1,548 498 4,483
Interest expense and other (173) (14) (5,459) (9,587) (27,569)
Loss before income taxes (47,702) (36,935) (79,708) (31,569) (80,171)
Provision for income taxes (52) (64) (134) (449) (425)
Net loss (47,754) (36,999) (79,842) (32,018) (80,596)
Less: Series A redeemable convertible preferred stock dividend — — — — (220)
Less: Accretion to redemption value of Series A redeemable convertible preferred stock — — — — (1,445)
Net loss * $ (47,754) $ (36,999) $ (79,842) $ (32,018) $ (82,261)
Net loss per share
Basic and diluted* $ (0.53) $ (0.44) $ (0.99) $ (0.48) $ (1.61)
Weighted average shares used to calculate basic and diluted net loss per share 89,864 83,683 80,264 66,784 51,219
As of January 31,
2007 2006 2005 2004 2003
(in thousands)
Consolidated Balance Sheet Data:
Cash and cash equivalents $ 89,079 $ 85,298 $ 87,245 $ 138,210 $ 40,401
Short-term investments 39,686 18,915 19,100 5,025 3,800
Total assets* 211,950 159,008 160,052 183,891 82,320
Long-term portion of convertible notes payable — — — 6,005 4,265
Long-term portion of convertible notes payable-related parties — — — — 3,920
Long-term portion of deferred revenues 54,851 67,575 63,131 46,035 32,373
Total stockholders' equity (deficit)* 16,996 (29,372) (2,692) 65,632 (24,697)
* Changes to Previously Announced Fourth Quarter and Fiscal Year Ended January 31, 2007 Results
We have made adjustments to our previously announced results for the fourth quarter and fiscal year ended January 31, 2007, announced on
March 7, 2007. During the course of preparation of our annual report on Form 10-K, we determined we had understated revenue share and sales and
marketing expenses by a total of $802,000 resulting in an increase in net loss per share of $0.01 for the fiscal year and fourth quarter ended January 31, 2007.
Quarterly Results of Operations
The following table presents certain unaudited statements of operations data for our eight most recent quarters ended January 31, 2007. In
management's opinion, this unaudited information has been prepared on the same basis as the audited annual financial statements and includes all
adjustments, consisting only of normal recurring adjustments, necessary for a fair representation of the unaudited information for the quarters presented. This
information should be read in conjunction with our audited consolidated financial statements and the notes thereto, included elsewhere in this annual report.
The results of operations for any quarter are not necessarily indicative of results that may be expected for any future period. Certain amounts in prior periods
have been reclassified to conform to the current year presentation and adjusted for a change in an accounting policy.
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