TeleNav 2010 Annual Report Download - page 49

ITEM 6. SELECTED FINANCIAL DATA
The following selected financial data should be read in conjunction with the consolidated financial
statements and related notes thereto appearing elsewhere in this Form 10-K. We have derived the statement of
income data for fiscal years ended June 30, 2010, 2009 and 2008 and the balance sheet data as of June 30, 2010
and 2009 from the audited consolidated financial statements included elsewhere in this Form 10-K. The
statement of income data for the fiscal years ended June 30, 2007 and 2006 and the balance sheet data as of
June 30, 2008, 2007 and 2006 were derived from the audited consolidated financial statements that are not
included in this Form 10-K. The consolidated financial statements have been prepared in accordance with
accounting principles generally accepted in the United States (“GAAP”). We have not declared or distributed any
cash dividends on our common stock. Historical results are not necessarily indicative of results to be expected for
future periods.
Consolidated Statements of Operations Data:
(in thousands, except per share data)
Fiscal Year Ended June 30,
2010 2009 2008 2007 2006
Revenue ............................................... $171,162 $110,880 $48,065 $ 27,716 $17,288
Cost of revenue ......................................... 29,481 20,250 11,359 7,965 3,599
Gross profit ........................................ 141,681 90,630 36,706 19,751 13,689
Operating expenses:
Research and development(1) .......................... 41,556 23,500 13,687 10,923 6,288
Sales and marketing .................................. 17,197 16,536 13,245 14,506 6,101
General and administrative(2) .......................... 14,518 8,302 4,993 4,677 2,962
Total operating expenses .................................. 73,271 48,338 31,925 30,106 15,351
Income (loss) from operations .............................. 68,410 42,292 4,781 (10,355) (1,662)
Other income (expense), net ............................... (407) (776) 10 710 (141)
Income (loss) before provision for income taxes ................ 68,003 41,516 4,791 (9,645) (1,802)
Provision for income taxes ............................ 26,593 11,898 184 1 1
Net income (loss) ........................................ $ 41,410 $ 29,618 $ 4,607 $ (9,646) $ (1,803)
Net income (loss) applicable to common stockholders ........... $ 25,560 $ 15,719 $ 1,875 $(10,852) $ (2,317)
Net income (loss) per share applicable to common stockholders:
Basic .............................................. $ 1.64 $ 1.39 $ 0.17 $ (1.00) $ (0.29)
Diluted ............................................ $ 0.83 $ 0.57 $ 0.07 $ (1.00) $ (0.29)
Weighted average shares used in computing net income (loss) per
share applicable to common stockholders:
Basic .............................................. 15,569 11,273 11,173 10,840 8,126
Diluted ............................................ 30,833 27,724 26,872 10,840 8,126
(1) Fiscal 2010 includes $1.5 million of stock compensation expense associated with certain stock option grants that
vested upon the closing of our IPO.
(2) Fiscal 2010 includes $1.3 million of stock compensation expense associated with a stock option grant that vested
upon the closing of our IPO.
Consolidated Balance Sheets Data:
(in thousands)
June 30,
2010 2009 2008 2007 2006
Cash and cash equivalents ............................ $112,862 $33,128 $ 16,850 $ 18,733 $ 27,267
Working capital ..................................... 134,878 44,899 22,676 17,599 27,478
Total assets ........................................ 173,720 72,210 36,029 26,582 32,071
Preferred stock warrant liability ........................ — 2,511 1,668 1,016 724
Convertible preferred stock ........................... — 51,368 50,160 47,196 47,196
Common stock and additional paid-in capital ............. 109,729 3,501 2,926 2,543 2,003
Total stockholders’ equity (deficit) ...................... 149,037 3,376 (25,765) (27,877) (18,934)
46