Intermolecularが2018年第2四半期決算を発表(後半)

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Intermolecularが2018年第2四半期決算を発表(後半)

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                              Intermolecular, Inc.
                Condensed Consolidated Statements of Operations
         (In thousands, except share and per share amounts, Unaudited)

                      Three Months Ended June 30,    Six Months Ended June 30,
                          2018           2017           2018          2017

Revenue:                
  Program revenue     $      9,365   $      6,480   $     18,621  $     13,291
  Licensing and
  royalty revenue              437          1,609            856         4,742
     Total revenue           9,802          8,089         19,477        18,033
Cost of revenue:
  Cost of program
  revenue                    2,856          2,545          6,231         5,242
  Cost of licensing
  and royalty revenue            3              2              4           292
     Total cost of
     revenue                 2,859          2,547          6,235         5,534
        Gross profit         6,943          5,542         13,242        12,499
Operating expenses:
  Research and
  development                4,056          5,385          8,087        12,494
  Sales and marketing          858            931          1,654         2,412
  General and
  administrative             1,748          2,217          4,034         5,225
  Restructuring
  charges                       --              3             --         1,350
     Total operating
     expenses                6,662          8,536         13,775        21,481
Income (Loss) from
operations                     281         (2,994)          (533)       (8,982)
Other income
(expense):
  Interest income
  (expense), net               140             58            245           113
  Other income
  (expense), net                75             82            162           179
     Total other
     income
     (expense), net            215            140            407           292
Income (Loss) before
provision for
income taxes                   496         (2,854)          (126)       (8,690)
Provision for income
taxes                           --             --              1             1
Net income (loss)     $        496   $     (2,854)  $       (127) $     (8,691)
Earnings (loss) per
share:
    Basic             $       0.01   $      (0.06)  $      (0.00) $      (0.18)
    Diluted           $       0.01   $      (0.06)  $      (0.00) $      (0.18)
Weighted-average
number of shares used
in computing earnings
(loss) per share
    Basic               49,672,739     49,554,701     49,627,584    49,537,074
    Diluted             50,059,639     49,554,701     49,627,584    49,537,074


                              Intermolecular, Inc.        
                     Condensed Consolidated Balance Sheets
                           (In thousands, Unaudited)

                                 As of June 30, 2018    As of December 31, 2017
ASSETS
Current assets:        
  Cash and cash equivalents       $           4,347      $               6,090
  Short-term investments                     25,662                     18,060
     Total cash, cash equivalents
     and short-term investments              30,009                     24,150
  Accounts receivable                         1,920                      5,519
  Prepaid expenses and other
  current assets                                725                      1,069
     Total current assets                    32,654                     30,738
  Long-term investments                       1,283                      1,657
  Materials inventory                         2,836                      2,781
  Property and equipment, net                 4,171                      5,913
  Intangible assets, net                      2,382                      2,620
  Other assets                                  551                        600
Total assets                      $          43,877      $              44,309

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable                $             145      $                 928
  Accrued liabilities                         1,054                        865
  Accrued compensation and
  employee benefits                           2,494                      2,535
  Deferred revenue                              309                        941
     Total current liabilities                4,002                      5,269
  Other long-term liabilities                 2,808                      2,967
     Total liabilities                        6,810                      8,236
Stockholders' equity:
  Common stock                                   50                         50
  Additional paid-in capital                215,449                    214,796
  Accumulated other
  comprehensive loss                            (43)                       (35)
  Accumulated deficit                      (178,389)                  (178,738)
Total stockholders' equity                   37,067                     36,073
Total liabilities and
stockholders' equity              $          43,877      $              44,309


                              Intermolecular, Inc.             
                Condensed Consolidated Statements of Cash Flows
                           (In thousands, Unaudited)

                                                  Six Months Ended June 30,
                                                 2018                  2017
Cash flows from operating activities:
Net loss                                     $      (127)          $    (8,691)
Adjustments to reconcile net loss to net
cash used in operating activities:
  Depreciation, amortization and
  accretion                                        2,693                 3,597
  Stock-based compensation                           482                   978
  (Gain) loss on disposal of property
  and equipment                                       --                    (7)
  Changes in operating assets and
  liabilities:
     Accounts receivable                           4,074                 2,221
     Prepaid expenses and other assets               393                   515
     Materials inventory                            (134)                  373
     Accounts payable                               (750)                  743
     Accrued and other liabilities                   (67)                    4
     Deferred revenue                               (633)                  211
        Net cash (used in) provided by
        operating activities                       5,931                   (56)
Cash flows from investing activities:
  Purchase of investments                        (19,367)              (11,897)
  Redemption of investments                       12,010                13,215
  Purchase of property and equipment                (489)                 (521)
  Proceeds from sale of equipment                     --                    10
        Net cash (used in) provided by
        investing activities                      (7,846)                  807
Cash flows from financing activities:
  Payment of capital leases                           --                   (11)
  Proceeds from exercise of common
  stock options                                      172                    --
        Net cash (used in) provided by
        financing activities                         172                   (11)
Net increase (decrease) in cash and
cash equivalents                                  (1,743)                  740
Cash and cash equivalents at beginning
of period                                          6,090                 5,759
Cash and cash equivalents at end of period   $     4,347           $     6,499


                              Intermolecular, Inc.
              Reconciliation of GAAP to Non-GAAP Financial Measures
       (In thousands, except per share amounts and percentages, Unaudited)

                      Three Months Ended June 30,    Six Months Ended June 30,
                          2018           2017           2018          2017

GAAP cost of net
revenue               $      2,859   $      2,547   $      6,235  $      5,534
  Stock-based
  compensation
  expense (a)                  (39)           (41)           (92)         (106)
Non-GAAP cost of net
revenue               $      2,820   $      2,506   $      6,143  $      5,428
GAAP gross profit     $      6,943   $      5,542   $     13,242  $     12,499
  Stock-based
  compensation
  expense (a)                   39             41             92           106
Non-GAAP gross profit $      6,982   $      5,583   $     13,334  $     12,605
As a percentage of
net revenue:
  GAAP gross margin           70.8%          68.5%          68.0%         69.3%
  Non-GAAP gross
  margin                      71.2%          69.0%          68.5%         69.9%
GAAP operating income
(loss)                $        281   $     (2,994)  $       (533) $     (8,982)
  Stock-based
  compensation
  expense (a):
     - Cost of net
     revenue                    39             41             92           106
     - Research and
     development                59             63            114           245
     - Sales and
     marketing                  21             10             51            69
     - General and
     administrative             93            208            225           558
Non-GAAP operating
income (loss)         $        493   $     (2,672)  $        (51) $     (8,004)

GAAP net income
(loss)                $        496   $     (2,854)  $       (127) $     (8,691)
  Stock-based
  compensation
  expense (a)                  212            322            482           978
Non-GAAP net income
(loss)                $        708   $     (2,532)  $        355  $     (7,713)

GAAP net income
(loss)                $        496   $     (2,854)  $       (127) $     (8,691)
  Interest (income)
  expense, net                (140)           (58)          (245)         (113)
  Provision for taxes           --             --              1             1
  Depreciation,
  amortization,
  impairments and
  accretion                  1,270          1,619          2,693         3,597
  Restructuring
  charges (b)                   --              3             --         1,350
  Stock-based
  compensation
  expense (a)                  212            322            482           978
Adjusted EBITDA       $      1,838   $       (968)  $      2,804  $      2.878

Shares used in
computing basic and
diluted earnings
per share:
  Basic                 49,672,739     49,554,701     49,627,584    49,537,074
  Diluted               50,059,639     49,554,701     49,627,584    49,537,074
GAAP earnings (loss)
per share:
  Basic               $       0.01   $      (0.06)  $      (0.00) $      (0.18)
  Diluted             $       0.01   $      (0.06)  $      (0.00) $      (0.18)
Non-GAAP earnings
(loss) per share:
  Basic               $       0.01   $      (0.05)  $       0.01  $      (0.16)
  Diluted             $       0.01   $      (0.05)  $       0.01  $      (0.16)

(a)   Stock-based compensation reflects expense recorded relating to stock-
      based awards. The Company excludes this item when it evaluates the
      continuing operational performance of the Company, as management       
      believes this provides it a meaningful understanding of its core
      operating performance.
(b)   Restructuring charges incurred in connection with a reduction in
      headcount primarily comprised of employee severance and benefit costs.


                    Intermolecular, Inc.
                 Third Quarter 2018 Outlook
Reconciliation of GAAP Net Income/Loss to Non-GAAP Net Income
     (In thousands, except per share amounts, Unaudited)

GAAP net loss range                      $(1,700) -  $(2,800)
Stock-based compensation                    $300  -  $300
Non-GAAP net income range                $(1,400) -  $(2,500)

GAAP and Non-GAAP diluted shares                49,700
GAAP net loss per share range             $(0.04) -  $(0.06)
Non-GAAP net income per share range       $(0.03) -  $(0.05)

▽企業問い合わせ先
Bill Roeschlein
Intermolecular, Inc.
Chief Financial Officer
bill.roeschlein@intermolecular.com
+1 (408) 582-5415

▽投資家問い合わせ先
Matt Glover or NajimMostamand, CFA
Liolios Group, Inc.
IMI@liolios.com
+1 (949) 574-3860

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ソース:Intermolecular, Inc.