Attached files
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| 8-K/A - 8-K/A - AUDIENCE INC | d695451d8ka.htm |
Exhibit 99.1
Audience, Inc.
GAAP to Non-GAAP net income (loss) reconciliation
(in thousands)
(unaudited)
| Three months ended December 31, |
Year ended December 31, |
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| 2013 | 2012 | 2013 | 2012 | |||||||||||||
| GAAP net income (loss) |
$ | (2,921 | ) | $ | 3,439 | $ | 2,070 | $ | 15,597 | |||||||
| Stock-based compensation |
1,464 | 944 | 5,660 | 3,134 | ||||||||||||
| Non-cash rent expense |
— | 431 | 663 | 579 | ||||||||||||
| Revaluation of warrant liability |
— | — | — | 290 | ||||||||||||
| Valuation allowance |
— | (1,605 | ) | — | (1,605 | ) | ||||||||||
| Tax adjustments |
(1,408 | ) | — | 295 | — | |||||||||||
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| Non-GAAP net income (loss) |
$ | (2,865 | ) | $ | 3,209 | $ | 8,688 | $ | 17,995 | |||||||
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Audience, Inc.
Unaudited computation of GAAP earnings per share
(in thousands, except for per share amounts)
(unaudited)
| Three months ended December 31, |
Year ended December 31, |
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| 2013 | 2012 | 2013 | 2012 | |||||||||||||
| Computation of GAAP net income (loss) per share: |
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| GAAP net income (loss) |
$ | (2,921 | ) | $ | 3,439 | $ | 2,070 | $ | 15,597 | |||||||
| Non-cumulative dividends to preferred stockholders |
— | — | — | (2,247 | ) | |||||||||||
| Undistributed earnings allocated to preferred stockholders |
— | — | — | (3,583 | ) | |||||||||||
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| Net income (loss) - basic |
(2,921 | ) | 3,439 | 2,070 | 9,767 | |||||||||||
| Adjustment for undistributed earnings reallocated to the holders of common stock |
— | — | — | 402 | ||||||||||||
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| Net income (loss) - diluted |
$ | (2,921 | ) | $ | 3,439 | $ | 2,070 | $ | 10,169 | |||||||
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| Weighted average shares used in computing net income (loss) per share: |
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| Basic |
22,012 | 20,587 | 21,467 | 13,377 | ||||||||||||
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| Diluted |
22,012 | 22,460 | 23,197 | 15,687 | ||||||||||||
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| Net income (loss) per share: |
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| Basic |
$ | (0.13 | ) | $ | 0.17 | $ | 0.10 | $ | 0.73 | |||||||
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| Diluted |
$ | (0.13 | ) | $ | 0.15 | $ | 0.09 | $ | 0.65 | |||||||
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Audience, Inc.
Reconciliation of GAAP to non-GAAP diluted earnings per share
(in thousands, except per share data)
(unaudited)
| Three months ended December 31, |
Year ended December 31, |
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| 2013 | 2012 | 2013 | 2012 | |||||||||||||
| GAAP net income (loss) |
$ | (2,921 | ) | $ | 3,439 | $ | 2,070 | $ | 15,597 | |||||||
| Non-cumulative dividends to preferred stockholders |
— | — | — | (2,247 | )(B) | |||||||||||
| Undistributed earnings allocated to preferred stockholders |
— | — | — | (3,583 | ) | |||||||||||
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| GAAP net income (loss) - basic |
(2,921 | ) | 3,439 | 2,070 | 9,767 | |||||||||||
| Adjustment for undistributed earnings reallocated to the holders of common stock |
— | — | — | 402 | ||||||||||||
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| GAAP net income (loss) - diluted |
(2,921 | ) | 3,439 | $ | 2,070 | $ | 10,169 | |||||||||
| Non-GAAP adjustments: |
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| Stock-based compensation |
1,464 | 944 | 5,660 | 3,134 | ||||||||||||
| Non-cash rent expense |
— | 431 | 663 | 579 | ||||||||||||
| Revaluation of warrant liability |
— | — | — | 290 | ||||||||||||
| Non-GAAP as if converted method |
— | — | — | 5,428 | (A) | |||||||||||
| Valuation allowance |
— | (1,605 | ) | — | (1,605 | ) | ||||||||||
| Effective tax rate change |
(1,408 | ) | — | 295 | — | |||||||||||
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| Non-GAAP net income (loss) - diluted |
$ | (2,865 | ) | $ | 3,209 | $ | 8,688 | $ | 17,995 | |||||||
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| GAAP - diluted weighted average shares |
22,012 | 22,460 | 23,197 | 15,687 | ||||||||||||
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| Non-GAAP - diluted weighted average shares |
22,012 | 22,460 | 23,197 | 20,558 | ||||||||||||
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| GAAP - diluted net income (loss) per share |
$ | (0.13 | ) | $ | 0.15 | $ | 0.09 | $ | 0.65 | |||||||
| Non-GAAP adjustments: |
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| Stock-based compensation |
0.06 | 0.04 | 0.24 | 0.15 | ||||||||||||
| Non-cash rent expense |
— | 0.02 | 0.03 | 0.03 | ||||||||||||
| Revaluation of warrant liability |
— | — | — | 0.01 | ||||||||||||
| Non-GAAP as if converted method |
— | — | — | 0.11 | (B) | |||||||||||
| Valuation allowance |
— | (0.07 | ) | — | (0.07 | ) | ||||||||||
| Effective tax rate change |
(0.06 | ) | — | 0.01 | — | |||||||||||
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| Non-GAAP - diluted net income (loss) per share |
$ | (0.13 | ) | $ | 0.14 | $ | 0.37 | $ | 0.88 | |||||||
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| (A) | Non-GAAP net income was adjusted by $5,428 for the twelve months ended December 31, 2012 to give effect to the conversion of our convertible preferred stock and certain preferred stock warrants using the as-if converted method into common shares as if the conversion had occurred as of the beginning of the period presented. |
| (B) | Non-GAAP diluted EPS for the twelve months ended December 31, 2012 was computed to give effect to the conversion of our convertible preferred stocks and certain preferred stock warrants using the as-if converted method into common shares as if the conversion had occurred as of the beginning of the period. Therefore to bridge the GAAP to non-GAAP EPS the non-cumulative dividends to preferred stockholders should not be allocated to stockholders for the twelve months ended December 31, 2012 of $2,247. |