2015 Q1 Form 10-Q Financial Statement

#000119312515184075 Filed on May 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $127.3M $66.24M
YoY Change 92.13% 69.85%
Cost Of Revenue $13.02M $6.164M
YoY Change 111.21% 50.34%
Gross Profit $114.3M $60.08M
YoY Change 90.17% 72.64%
Gross Profit Margin 89.77% 90.69%
Selling, General & Admin $97.31M $49.82M
YoY Change 95.32% 77.94%
% of Gross Profit 85.17% 82.93%
Research & Development $37.33M $16.74M
YoY Change 123.04% 161.48%
% of Gross Profit 32.67% 27.85%
Depreciation & Amortization $14.03M $8.074M
YoY Change 73.74% 68.21%
% of Gross Profit 12.28% 13.44%
Operating Expenses $134.6M $66.56M
YoY Change 102.29% 71.98%
Operating Profit -$57.92M -$6.478M
YoY Change 794.15% 66.1%
Interest Expense $730.0K $200.0K
YoY Change 265.0% 100.0%
% of Operating Profit
Other Income/Expense, Net $300.0K
YoY Change
Pretax Income -$58.38M -$6.300M
YoY Change 826.73% 70.27%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$58.38M -$6.259M
YoY Change 832.8% 69.16%
Net Earnings / Revenue -45.87% -9.45%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.189M -$160.3K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $628.4M $309.4M
YoY Change 103.1% 72.75%
Cash & Equivalents $125.8M $153.7M
Short-Term Investments $320.6M $155.8M
Other Short-Term Assets $25.00M $6.800M
YoY Change 267.65% 54.55%
Inventory
Prepaid Expenses
Receivables $31.27M $14.90M
Other Receivables $0.00 $0.00
Total Short-Term Assets $684.7M $331.1M
YoY Change 106.81% 71.55%
LONG-TERM ASSETS
Property, Plant & Equipment $72.94M $31.10M
YoY Change 134.52% 85.12%
Goodwill $1.833B
YoY Change
Intangibles $569.1M
YoY Change
Long-Term Investments $0.00 $137.9M
YoY Change -100.0% 449.4%
Other Assets $1.171M $400.0K
YoY Change 192.75% 33.33%
Total Long-Term Assets $2.483B $290.4M
YoY Change 755.19% 149.06%
TOTAL ASSETS
Total Short-Term Assets $684.7M $331.1M
Total Long-Term Assets $2.483B $290.4M
Total Assets $3.168B $621.5M
YoY Change 409.77% 100.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.66M $6.400M
YoY Change 113.45% 45.45%
Accrued Expenses $52.47M $19.40M
YoY Change 170.45% 173.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $115.0M $38.50M
YoY Change 198.75% 98.45%
LONG-TERM LIABILITIES
Long-Term Debt $230.0M $0.00
YoY Change
Other Long-Term Liabilities $11.80M $7.500M
YoY Change 57.33% 102.7%
Total Long-Term Liabilities $230.0M $7.500M
YoY Change 2966.67% 102.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $115.0M $38.50M
Total Long-Term Liabilities $230.0M $7.500M
Total Liabilities $345.0M $46.00M
YoY Change 650.04% 99.13%
SHAREHOLDERS EQUITY
Retained Earnings -$186.1M
YoY Change
Common Stock $2.854B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $588.8M $575.5M
YoY Change
Total Liabilities & Shareholders Equity $3.168B $621.5M
YoY Change 409.77% 100.74%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$58.38M -$6.259M
YoY Change 832.8% 69.16%
Depreciation, Depletion And Amortization $14.03M $8.074M
YoY Change 73.74% 68.21%
Cash From Operating Activities $1.500M $14.20M
YoY Change -89.44% 517.39%
INVESTING ACTIVITIES
Capital Expenditures $10.32M $7.872M
YoY Change 31.11% -219.27%
Acquisitions
YoY Change
Other Investing Activities $182.4M -$58.60M
YoY Change -411.26% 211.7%
Cash From Investing Activities $171.8M -$67.60M
YoY Change -354.14% 166.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.800M 5.300M
YoY Change 66.04% 3.92%
NET CHANGE
Cash From Operating Activities 1.500M 14.20M
Cash From Investing Activities 171.8M -67.60M
Cash From Financing Activities 8.800M 5.300M
Net Change In Cash 182.1M -48.10M
YoY Change -478.59% 167.22%
FREE CASH FLOW
Cash From Operating Activities $1.500M $14.20M
Capital Expenditures $10.32M $7.872M
Free Cash Flow -$8.821M $6.328M
YoY Change -239.4% -28.9%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> <b><i>Multiple-Element Arrangements.</i></b> We enter into arrangements with customers that include combinations of CPC media placements, CPM media placements and subscription products.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> We allocate arrangement consideration in multiple-element revenue arrangements at the inception of an arrangement to all deliverables or those packages in which all components of the package are delivered at the same time based on the relative selling price method in accordance with the selling price hierarchy, which includes: (i)&#xA0;vendor-specific objective evidence (&#x201C;VSOE&#x201D;) if available; (ii)&#xA0;third-party evidence (&#x201C;TPE&#x201D;) if VSOE is not available; and (iii)&#xA0;best estimate of selling price (&#x201C;BESP&#x201D;) if neither VSOE nor TPE is available.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> <i>VSOE -</i>&#xA0;We determine VSOE based on our historical pricing and discounting practices for the specific product when sold separately. 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In addition, the list prices are impacted by market conditions, including the conditions of the real estate market and economy in general, and our competitive landscape; and</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="8%">&#xA0;</td> <td valign="top" width="4%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">Analysis of our current and historical selling prices for these deliverables.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> We limit the amount of allocable arrangement consideration to amounts that are fixed or determinable and that are not contingent on future performance or future deliverables. We regularly review our BESP. 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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsAndStockAppreciationRightsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P3Y10M2D
CY2015Q1 z Share Based Compensation Arrangement By Share Based Payment Award Options And Stock Appreciation Rights Assumed In Acquisition Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndStockAppreciationRightsAssumedInAcquisitionShares
1053255 shares
CY2015Q1 z Sale Of Product For Subscription Description
SaleOfProductForSubscriptionDescription
Trulia real estate products included in real estate revenue are primarily sold on a fixed fee subscription basis, and include Trulia Local Ads, Trulia Mobile Ads, Trulia Pro with featured listings, and Trulia Seller Ads. Trulia Local Ads and Trulia Mobile Ads enable real estate professionals to promote themselves on Trulia’s search results pages and property details pages for a local market area. Real estate professionals purchase subscriptions to these products based upon their specified market share for a city or zip code, at a fixed monthly price, for periods ranging from one month to one year, with pricing depending on demand, location, and the percentage of market share purchased. Trulia’s featured listings product allows real estate professionals to receive prominent placement of their listings in Trulia’s search results. Real estate professionals sign up for new subscriptions to this product at a fixed monthly price for periods that generally range from six months to 12 months. Trulia Seller Ads enable real estate professionals to generate leads from consumers interested in selling their homes.

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