Q3 2018 Earnings

Reported November 23, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	Q3 2018	Q2 2018	Q3 2017	QoQ Change	YoY Change
Revenue	$197M	$161M	$174M	22.5%	13.2%
Op. Income	$19M	$19M	$19M	-0.1%	-3.4%
Gross Margin	71.8%	68.2%	66.5%	3.6pp	5.2pp
Net Margin	12.4%	17.8%	11.7%	-5.5pp	0.7pp
EPS (Diluted)	$42.35	$49.44	$35.71	-14.3%	18.6%

Revenue Flow

Item	Amount
REVENUE	$197M
Cost of Revenue	$56M
GROSS PROFIT	$142M
R&D Expenses	$26M
Selling & Marketing	$83M
General & Administrative	$16M
SG&A Expenses	$99M
Other Expenses	$181.4K
Operating Expenses	$123M
Cost & Expenses	$179M
OPERATING INCOME	$19M
Interest Income	$4M
Interest Expense	$0
Other Income/Expenses	$6M
INCOME BEFORE TAX	$24M
Income Tax Expense	$4M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	-$2M
EBIT	$19M
EBITDA	$17M
EPS	$43
EPS Diluted	$42

Income Statement

Item	Amount
REVENUE	$197M
Cost of Revenue	$56M
GROSS PROFIT	$142M
R&D Expenses	$26M
Selling & Marketing	$83M
General & Administrative	$16M
SG&A Expenses	$99M
Other Expenses	$181.4K
Operating Expenses	$123M
Cost & Expenses	$179M
OPERATING INCOME	$19M
Interest Income	$4M
Interest Expense	$0
Other Income/Expenses	$6M
INCOME BEFORE TAX	$24M
Income Tax Expense	$4M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	-$2M
EBIT	$19M
EBITDA	$17M
EPS	$43
EPS Diluted	$42

Balance Sheet

Item	Amount
Cash & Equivalents	$410M
Short-Term Investments	$118M
Net Receivables	$102M
Inventory	$0
Other Current Assets	$125M
TOTAL CURRENT ASSETS	$756M
PP&E (Net)	$10M
Goodwill	$96M
Intangible Assets	$8M
Long-Term Investments	$235M
Tax Assets	$9M
Other Non-Current Assets	$9M
TOTAL NON-CURRENT ASSETS	$367M
TOTAL ASSETS	$1.1B
Account Payables	$24M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$14M
TOTAL CURRENT LIABILITIES	$255M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$11M
Other Non-Current Liabilities	$109M
TOTAL NON-CURRENT LIABILITIES	$120M
TOTAL LIABILITIES	$375M
Common Stock	$33.6K
Additional Paid-In Capital	$395M
Retained Earnings	$290M
Treasury Stock	-$3M
Accum. Other Comp. Income	$40M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$722M
Minority Interest	$26M
TOTAL EQUITY	$749M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$0
Net Debt	-$410M