TiVo 2004 Annual Report Download - page 56

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Table of Contents
Index to Financial Statements
TIVO INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share amounts)
Year Ended
January 31,
2005
January 31,
2004
January 31,
2003
Revenues
Service and technology revenues (includes $6,805, $19,725, and $22,068 of revenues-related parties for the
fiscal years ended January 31, 2005, 2004, and 2003, respectively) $ 115,476 $ 77,357 $ 60,170
Hardware revenues 111,275 72,882 45,620
Rebates, revenue share, and other payments to channel (includes $103 and $605 of contra-revenues-related
parties for the fiscal years ended January 31, 2004 and 2003, respectively) (54,696) (9,159) (9,780)
Net revenues 172,055 141,080 96,010
Costs of revenues
Costs of service and technology revenues 35,935 31,314 25,152
Cost of hardware revenues 120,323 74,836 44,647
Total cost of revenues 156,258 106,150 69,799
Gross margin 15,797 34,930 26,211
Research and development 37,634 22,167 20,714
Sales and marketing (includes $1,100, $7,692, and $30,488 of sales and marketing-related parties for the fiscal
years ended January 31, 2005, 2004, and 2003, respectively) 37,367 18,947 48,117
General and administrative 16,593 16,296 14,465
Total operating expenses 91,594 57,410 83,296
Loss from operations (75,797) (22,480) (57,085)
Interest income 1,548 498 4,483
Interest expense and other (includes $671, and $1,345 interest expense-related parties for the years ended
January 31, 2004 and 2003, respectively) (5,459) (9,587) (27,569)
Loss before income taxes (79,708) (31,569) (80,171)
Provision for income taxes (134) (449) (425)
Net loss (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 attributable to common stockholders $ (79,842) $ (32,018) $ (82,261)
Net loss per common share basic and diluted $ (0.99) $ (0.48) $ (1.61)
Weighted average common shares used to calculate - basic and diluted 80,263,980 66,784,143 51,218,918
The accompanying notes are an integral part of these consolidated statements.
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