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STAMPS.COM INC.
FORM 10-K ANNUAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2005
TABLE OF CONTENTS
i
Page
Part I. 1
Item 1. Business 1
Item 1a. Risk Factors 9
Item 1b.
Unresolved Staff Comments 15
Item 2. Properties 15
Item 3. Legal Proceedings 15
Item 4. Submission of Matters to a Vote of Security Holders 16
Part II. 17
Item 5. Market for the Registrant’s Common Stock and Related Stockholder Matters 17
Item 6. Selected Financial Data 19
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 20
Item 7a. Quantitative and Qualitative Disclosures About Market Risk 31
Item 8. Financial Statements and Supplementary Data 31
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 31
Item 9a. Controls and Procedures 31
Item 9b.
Other Information 32
Part III. 34
Item 10.
Directors and Executive Officers of the Registrant 34
Item 11.
Executive Compensation 34
Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related
Stockholder Matters 34
Item 13.
Certain Relationships and Related Transactions 34
Item 14.
Principal Accounting Fees and Services 34
Part IV. 35
Item 15.
Exhibits, Financial Statement Schedules 35