Pandora 2012 Annual Report Download - page 58
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Table of Contents
Results of Operations
The following tables present our results of operations for the periods indicated and as a percentage of total revenue. The period-to-period comparisons
of results are not necessarily indicative of results for future periods.
Fiscal Year Ended January 31,
2010 2011 2012
(in thousands)
Revenue:
Advertising $ 50,147 $ 119,333 $ 239,957
Subscription services and other 5,042 18,431 34,383
Total revenue 55,189 137,764 274,340
Costs and expenses:
Cost of revenue(1) 7,892 11,559 22,759
Product development(1) 6,026 6,736 13,425
Marketing and sales(1) 17,426 36,250 65,010
General and administrative(1) 6,358 14,183 35,428
Content acquisition 32,946 69,357 148,708
Total costs and expenses 70,648 138,085 285,330
Income (loss) from operations (15,459) (321) (10,990)
Other income (expense):
Interest income 62 31 59
Interest expense (898) (612) (616)
Other income (expense), net (458) (728) (4,485)
Loss before provision for income taxes (16,753) (1,630) (16,032)
Provision for income taxes — 134 75
Net loss (16,753) (1,764) (16,107)
Deemed dividend on Series D and Series E (1,443) — —
Accretion of redeemable convertible preferred stock (218) (300) (110)
Increase in cumulative dividends payable upon conversion of liquidation of redeemable convertible preferred stock (6,461) (8,978) (3,648)
Net loss attributable to common stockholders $ (24,875) $ (11,042) $ (19,865)
Basic and diluted loss per share $ (3.84) $ (1.03) $ (0.19)
Weighted-average number of shares used in per share amounts (in thousands): 6,482 10,761 105,955
(1) Includes stock-based compensation as follows:
Cost of revenue $18 $85 $ 582
Product development 125 329 1,638
Marketing and sales 225 549 4,866
General and administrative 109 492 2,101
Total stock-based compensation $ 477 $ 1,455 $ 9,187
Fiscal Year Ended January 31,
2010
2011
2012
Revenue:
Advertising 91% 87% 87%
Subscription services and other 9 13 13
Total revenue 100 100 100
Costs and expenses:
Cost of revenue(1) 14 8 8
Product and development(1) 11 5 5
Marketing and sales(1) 32 26 24
General and administrative(1) 12 10 13
Content acquisition 60 50 54
Total costs and expenses 128 100 104
Income (loss) from operations (28) — (4)
Other income (expense):
Interest income — — —
Interest expense (2) — —
Other income (expense), net (1) (1) (2)
Loss before provision for income taxes (30) (1) (6)
Provision for income taxes — — —
Net loss (30%) (1%) (6%)
(1) Includes stock-based compensation as follows: