$MRIN
MARIN SOFTWARE INC

2016 Q2 Form 10-Q Financial Statement

#000156459016022942 Filed on August 05, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $25.75M $26.78M
YoY Change -3.82% 12.25%
Cost Of Revenue $8.894M $10.60M
YoY Change -16.09% 20.96%
Gross Profit $16.86M $16.18M
YoY Change 4.22% 7.2%
Gross Profit Margin 65.46% 60.41%
Selling, General & Admin $14.30M $18.72M
YoY Change -23.59% 7.92%
% of Gross Profit 84.84% 115.72%
Research & Development $7.044M $9.194M
YoY Change -23.38% 38.74%
% of Gross Profit 41.78% 56.84%
Depreciation & Amortization $3.050M $3.130M
YoY Change -2.56% 57.29%
% of Gross Profit 18.09% 19.35%
Operating Expenses $21.35M $27.91M
YoY Change -23.52% 16.44%
Operating Profit -$4.488M -$11.74M
YoY Change -61.76% 32.13%
Interest Expense -$30.00K -$10.00K
YoY Change 200.0% -83.33%
% of Operating Profit
Other Income/Expense, Net $411.0K -$164.0K
YoY Change -350.61% -42.66%
Pretax Income -$4.111M -$11.91M
YoY Change -65.48% 29.01%
Income Tax $307.0K -$138.0K
% Of Pretax Income
Net Earnings -$4.418M -$12.05M
YoY Change -63.33% 77.4%
Net Earnings / Revenue -17.16% -44.99%
Basic Earnings Per Share
Diluted Earnings Per Share -$808.0K -$2.317M
COMMON SHARES
Basic Shares Outstanding 36.18M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.40M $41.50M
YoY Change -14.7% -50.54%
Cash & Equivalents $35.40M $41.47M
Short-Term Investments
Other Short-Term Assets $4.300M $6.600M
YoY Change -34.85% 83.33%
Inventory
Prepaid Expenses
Receivables $23.00M $20.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $62.70M $68.40M
YoY Change -8.33% -34.5%
LONG-TERM ASSETS
Property, Plant & Equipment $21.10M $19.70M
YoY Change 7.11% 45.72%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.700M $900.0K
YoY Change 88.89% 7.4%
Total Long-Term Assets $51.10M $52.20M
YoY Change -2.11% 52.11%
TOTAL ASSETS
Total Short-Term Assets $62.70M $68.40M
Total Long-Term Assets $51.10M $52.20M
Total Assets $113.8M $120.6M
YoY Change -5.64% -13.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.000M $2.100M
YoY Change 42.86% -3.49%
Accrued Expenses $8.600M $11.10M
YoY Change -22.52% 11.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $800.0K $1.900M
YoY Change -57.89% -35.13%
Total Short-Term Liabilities $15.20M $18.00M
YoY Change -15.56% -1.74%
LONG-TERM LIABILITIES
Long-Term Debt $1.500M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $4.500M $4.600M
YoY Change -2.17% 355.0%
Total Long-Term Liabilities $6.000M $4.600M
YoY Change 30.43% 68.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.20M $18.00M
Total Long-Term Liabilities $6.000M $4.600M
Total Liabilities $21.20M $22.60M
YoY Change -6.19% 7.36%
SHAREHOLDERS EQUITY
Retained Earnings -$168.1M
YoY Change 31.02%
Common Stock $267.5M
YoY Change 764140.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $92.60M $98.03M
YoY Change
Total Liabilities & Shareholders Equity $113.8M $120.6M
YoY Change -5.67% -13.05%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$4.418M -$12.05M
YoY Change -63.33% 77.4%
Depreciation, Depletion And Amortization $3.050M $3.130M
YoY Change -2.56% 57.29%
Cash From Operating Activities $1.540M -$5.970M
YoY Change -125.8% -13.85%
INVESTING ACTIVITIES
Capital Expenditures -$1.760M -$4.710M
YoY Change -62.63% 248.89%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.750M -$4.710M
YoY Change -62.85% -14.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -270.0K -930.0K
YoY Change -70.97% -365.71%
NET CHANGE
Cash From Operating Activities 1.540M -5.970M
Cash From Investing Activities -1.750M -4.710M
Cash From Financing Activities -270.0K -930.0K
Net Change In Cash -480.0K -11.61M
YoY Change -95.87% -3.89%
FREE CASH FLOW
Cash From Operating Activities $1.540M -$5.970M
Capital Expenditures -$1.760M -$4.710M
Free Cash Flow $3.300M -$1.260M
YoY Change -361.9% -77.42%

Facts In Submission

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3.25
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
7.45
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
5.91
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.27
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2939000
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4939000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.475
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0144
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
mrin Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0.070
CY2016Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
8082000
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
0
CY2016Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
CY2016Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2015Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8511000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2015Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2248000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4217000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
3161000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
6202000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
4533000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
4074000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
9396000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
27366000
CY2015Q4 us-gaap Litigation Reserve
LitigationReserve
0
CY2016Q2 us-gaap Litigation Reserve
LitigationReserve
0

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