Q2 2019 Earnings

Reported June 29, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	Q2 2019	Q1 2019	Q2 2018	QoQ Change	YoY Change
Revenue	$153M	—	$364M	—	-58.0%
Op. Income	$37M	—	$212M	—	-82.3%
Gross Margin	81.3%	—	95.0%	—	-13.8pp
Net Margin	15.7%	—	51.5%	—	-35.8pp
EPS (Diluted)	$2.22	—	$17.65	—	-87.4%

Revenue Flow

Item	Amount
REVENUE	$153M
Cost of Revenue	$29M
GROSS PROFIT	$124M
R&D Expenses	$0
Selling & Marketing	$58M
General & Administrative	$29M
SG&A Expenses	$87M
Other Expenses	$0
Operating Expenses	$97M
Cost & Expenses	$126M
OPERATING INCOME	$37M
Interest Income	$9M
Interest Expense	$0
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$36M
Income Tax Expense	$11M
Net Income from Continuing Ops	$35M
Net Income from Discontinued Ops	$0
Other Adjustments	-$10M
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$1M
EBIT	$37M
EBITDA	$37M
EPS	$3
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$153M
Cost of Revenue	$29M
GROSS PROFIT	$124M
R&D Expenses	$0
Selling & Marketing	$58M
General & Administrative	$29M
SG&A Expenses	$87M
Other Expenses	$0
Operating Expenses	$97M
Cost & Expenses	$126M
OPERATING INCOME	$37M
Interest Income	$9M
Interest Expense	$0
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$36M
Income Tax Expense	$11M
Net Income from Continuing Ops	$35M
Net Income from Discontinued Ops	$0
Other Adjustments	-$10M
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$1M
EBIT	$37M
EBITDA	$37M
EPS	$3
EPS Diluted	$2

Balance Sheet

Item	Amount
Cash & Equivalents	$833M
Short-Term Investments	$33M
Net Receivables	$153M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$34M
Goodwill	$11M
Intangible Assets	$11M
Long-Term Investments	$128M
Tax Assets	$22M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$206M
TOTAL ASSETS	$1.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$48M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$222M
Long-Term Debt	$0
Deferred Revenue NC	$48M
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$155M
TOTAL NON-CURRENT LIABILITIES	$228M
TOTAL LIABILITIES	$449M
Common Stock	$0
Additional Paid-In Capital	$455M
Retained Earnings	$491M
Treasury Stock	$0
Accum. Other Comp. Income	$76M
Other Equity	$268M
TOTAL STOCKHOLDERS' EQUITY	$1.0B
Minority Interest	$4M
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$22M
Net Debt	-$810M