$MRIN
MARIN SOFTWARE INC

2016 Q1 Form 10-Q Financial Statement

#000156459016018026 Filed on May 05, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $27.19M $26.41M
YoY Change 2.94% 15.77%
Cost Of Revenue $9.190M $9.709M
YoY Change -5.35% 15.82%
Gross Profit $18.00M $16.70M
YoY Change 7.75% 15.74%
Gross Profit Margin 66.19% 63.24%
Selling, General & Admin $14.08M $17.88M
YoY Change -21.26% 8.97%
% of Gross Profit 78.21% 107.02%
Research & Development $8.009M $8.484M
YoY Change -5.6% 39.47%
% of Gross Profit 44.5% 50.79%
Depreciation & Amortization $2.346M $2.172M
YoY Change 8.01% 21.0%
% of Gross Profit 13.03% 13.0%
Operating Expenses $22.09M $26.36M
YoY Change -16.22% 17.22%
Operating Profit -$4.087M -$9.657M
YoY Change -57.68% 19.87%
Interest Expense -$20.00K -$10.00K
YoY Change 100.0% -85.71%
% of Operating Profit
Other Income/Expense, Net $33.00K $244.0K
YoY Change -86.48% 6000.0%
Pretax Income -$4.072M -$9.424M
YoY Change -56.79% 16.09%
Income Tax $341.0K $236.0K
% Of Pretax Income
Net Earnings -$4.413M -$9.660M
YoY Change -54.32% 16.3%
Net Earnings / Revenue -16.23% -36.57%
Basic Earnings Per Share
Diluted Earnings Per Share -$816.7K -$1.890M
COMMON SHARES
Basic Shares Outstanding 35.40M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $36.20M $52.80M
YoY Change -31.44% -45.06%
Cash & Equivalents $36.20M $52.80M
Short-Term Investments
Other Short-Term Assets $4.200M $6.000M
YoY Change -30.0% 87.5%
Inventory
Prepaid Expenses
Receivables $23.90M $19.93M
Other Receivables $0.00 $0.00
Total Short-Term Assets $64.30M $78.72M
YoY Change -18.32% -30.99%
LONG-TERM ASSETS
Property, Plant & Equipment $21.20M $16.94M
YoY Change 25.13% 21.78%
Goodwill $19.90M
YoY Change
Intangibles $12.49M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.300M $745.0K
YoY Change 74.5% -34.93%
Total Long-Term Assets $51.70M $50.08M
YoY Change 3.24% 232.57%
TOTAL ASSETS
Total Short-Term Assets $64.30M $78.72M
Total Long-Term Assets $51.70M $50.08M
Total Assets $116.0M $128.8M
YoY Change -9.94% -0.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.400M $5.292M
YoY Change -73.54% 328.85%
Accrued Expenses $10.50M $10.30M
YoY Change 1.94% 11.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $900.0K $3.192M
YoY Change -71.8% 3.2%
Total Short-Term Liabilities $15.90M $22.54M
YoY Change -29.46% 41.04%
LONG-TERM LIABILITIES
Long-Term Debt $1.400M $138.0K
YoY Change 914.49% -93.98%
Other Long-Term Liabilities $4.600M $2.239M
YoY Change 105.45% 92.85%
Total Long-Term Liabilities $6.000M $2.377M
YoY Change 152.42% -31.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.90M $22.54M
Total Long-Term Liabilities $6.000M $2.377M
Total Liabilities $21.90M $24.92M
YoY Change -12.11% 28.22%
SHAREHOLDERS EQUITY
Retained Earnings -$156.1M
YoY Change 28.43%
Common Stock $261.7M
YoY Change 792800.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $94.10M $103.9M
YoY Change
Total Liabilities & Shareholders Equity $116.0M $128.8M
YoY Change -9.94% -0.26%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$4.413M -$9.660M
YoY Change -54.32% 16.3%
Depreciation, Depletion And Amortization $2.346M $2.172M
YoY Change 8.01% 21.0%
Cash From Operating Activities $600.0K -$3.780M
YoY Change -115.87% -48.28%
INVESTING ACTIVITIES
Capital Expenditures $267.0K $2.342M
YoY Change -88.6% 199.49%
Acquisitions $0.00 $7.509M
YoY Change -100.0%
Other Investing Activities $0.00 -$7.510M
YoY Change -100.0%
Cash From Investing Activities -$1.760M -$10.68M
YoY Change -83.52% 663.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -100.0K -280.0K
YoY Change -64.29% -191.5%
NET CHANGE
Cash From Operating Activities 600.0K -3.780M
Cash From Investing Activities -1.760M -10.68M
Cash From Financing Activities -100.0K -280.0K
Net Change In Cash -1.260M -14.74M
YoY Change -91.45% 75.43%
FREE CASH FLOW
Cash From Operating Activities $600.0K -$3.780M
Capital Expenditures $267.0K $2.342M
Free Cash Flow $333.0K -$6.122M
YoY Change -105.44% -24.34%

Facts In Submission

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CY2016Q1 mrin Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2Exercised
P0Y
CY2016Q1 mrin Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Remaining Contractual Term Two Forfeited Or Cancelled
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTermTwoForfeitedOrCancelled
P0Y
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M22D
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y4M24D
CY2016Q1 mrin Share Based Compensation Arrangement By Share Based Payment Award Options Vested Outstanding Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOutstandingWeightedAverageRemainingContractualTerm
P6Y6M7D
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y9M
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
957000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
631000
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
630000
CY2016Q1 mrin Share Based Compensation Arrangement By Share Based Payment Award Options Vested Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOutstandingAggregateIntrinsicValue
630000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
631000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1221000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1300000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
105000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
199000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2217000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
9.36
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.30
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
3.15
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
4.98
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.70
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.474
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.495
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0153
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0179
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2016Q1 mrin Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0.070
CY2015Q1 mrin Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0.070
CY2016Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
9282000
CY2016Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
0
CY2016Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2016Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
CY2016Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2015Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8452000
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9153000
CY2016Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2016Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2168000
CY2015Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1969000
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
5399000
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
7092000
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
4810000
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
4261000
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
9485000
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
31047000
CY2015Q4 us-gaap Litigation Reserve
LitigationReserve
0
CY2016Q1 us-gaap Litigation Reserve
LitigationReserve
0

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