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Table of Contents
ITEM 6. SELECTED CONSOLIDATED FINANCIAL AND OTHER DATA
The following selected consolidated financial and other data should be read in conjunction with “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” and our audited consolidated financial statements and related notes, which are included
elsewhere in this Annual Report on Form 10-K. The consolidated statements of operations data for the years ended December 31, 2013, 2012
and 2011 as well as the consolidated balance sheet data as of December 31, 2013 and 2012 are derived from the audited consolidated financial
statements that are included elsewhere in this Annual Report on Form 10-K. The consolidated statement of operations data for the 12 months
ended December 31, 2010 and 2009, as well as the consolidated balance sheet data as of December 31, 2011, 2010 and 2009, are derived from
audited consolidated financial statements that are not included in this Annual Report on Form 10-K. Our historical results are not necessarily
indicative of the results to be expected in the future.
39
Year Ended December 31,
2013
2012
2011
2010
2009
(in thousands, except per share, user and ABPU data)
Consolidated Statements of Operations Data:
Revenue:
Online game
$
759,572
$
1,144,252
$
1,065,648
$
574,632
$
85,748
Advertising
113,694
137,015
74,452
22,827
35,719
Total revenue
873,266
1,281,267
1,140,100
597,459
121,467
Costs and expenses:
Cost of revenue
248,358
352,169
330,043
176,052
56,707
Research and development
413,001
645,648
727,018
149,519
51,029
Sales and marketing
104,403
181,924
234,199
114,165
42,266
General and administrative
162,918
189,004
254,456
32,251
24,243
Impairment of intangible assets
10,217
95,493
—
—
—
Total costs and expenses
938,897
1,464,238
1,545,716
471,987
174,245
Income (loss) from operations
(65,631
)
(182,971
)
(405,616
)
125,472
(52,778
)
Interest income
4,148
4,749
1,680
1,222
177
Other income (expense), net
(3,386
)
18,647
(2,206
)
365
(209
)
Income (loss) before income taxes
(64,869
)
(159,575
)
(406,142
)
127,059
(52,810
)
Provision for (benefit from) income taxes
(27,887
)
49,873
(1,826
)
36,464
12
Net income (loss)
$
(36,982
)
$
(209,448
)
$
(404,316
)
$
90,595
$
(52,822
)
Deemed dividend to a Series B
-
2 convertible preferred stockholder
—
—
—
4,590
—
Net income attributable to participating securities
—
—
—
58,110
—
Net income (loss) attributable to common stockholders
$
(36,982
)
$
(209,448
)
$
(404,316
)
$
27,895
$
(52,822
)
Net income (loss) per share attributable to common stockholders
Basic
$
(0.05
)
$
(0.28
)
$
(1.40
)
$
0.12
$
(0.31
)
Diluted
$
(0.05
)
$
(0.28
)
$
(1.40
)
$
0.11
$
(0.31
)
Weighted average common shares used to compute net income
(loss) per share attributable to common stockholders:
Basic
799,794
741,177
288,599
223,881
171,751
Diluted
799,794
741,177
288,599
329,256
171,751
Other Financial and Operational Data:
Bookings(1)
$
716,176
$
1,147,627
$
1,155,509
$
838,896
$
328,070
Adjusted EBITDA(2)
$
46,549
$
213,233
$
303,274
$
392,738
$
168,187
Average DAUs (in millions)(3)
37
63
57
56
41
Average MAUs (in millions)(4)
171
302
233
217
153
Average MUUs (in millions)(5)
112
180
151
116
86
ABPU(6)
$
0.053
$
0.050
$
0.055
$
0.041
$
0.035