Limelight Networks, Inc. - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - February 8, 2017

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Exhibit 99.1

February 8, 2017
Limelight Networks Reports Financial Results for the Fourth Quarter and Full Year of 2016
•
Q4 Revenue of $43.8 million, up 2 percent, year over year and up 11 percent sequentially
•
Q4 Gross Margin of 44.9%, up 390 basis points, year over year
•
Q4 GAAP EPS of $(0.04) and Non-GAAP EPS of $0.02
•
Cash and marketable securities of $66.2 million
Limelight Networks, Inc. (Nasdaq:LLNW) (Limelight), a global leader in digital content delivery, today reported revenue of $43.8 million for the fourth quarter of 2016, up 2 percent, compared to $42.7 million in the fourth quarter of 2015, and up 11 percent, compared to $39.5 million in the third quarter of 2016. Currency headwinds negatively impacted year-over-year comparison by $0.3 million and sequential comparison by $0.5 million.
Gross margin was 44.9% in the fourth quarter of 2016, an increase of 390 basis points from 41.0% in the fourth quarter of 2015, and up 380 basis points from 41.1% in the third quarter of 2016.
Limelight reported a net loss of $3.9 million, or $0.04 per basic share, for the fourth quarter of 2016, compared to a net loss of $4.1 million, or $0.04 per basic share in the fourth quarter of 2015.
Non-GAAP net income was $1.8 million, or $0.02 per basic share for the fourth quarter of 2016, compared to a non-GAAP net loss of $0.4 million, or break-even per basic share in the fourth quarter of 2015.
EBITDA was $1.9 million for the fourth quarter of 2016, compared to $2.1 million for the fourth quarter of 2015. Adjusted EBITDA was $7.5 million for the fourth quarter of 2016 compared to $5.3 million for the fourth quarter of 2015.
For the full year ended December 31, 2016, Limelight reported revenue of $168.2 million, a decrease of 2% compared to $170.9 million for the year ended December 31, 2015. Currency negatively impacted full year revenue by $0.8 million.
Gross margin was 42.4% for the year ended December 31, 2016, an increase of 250 basis points compared to 39.9% for the year ended December 31, 2015.
Limelight reported a net loss of $73.9 million, or $0.71 per basic share, for the year ended December 31, 2016, compared to a net loss of $24.0 million, or $0.24 per basic share, in 2015. The full year 2016 net loss includes a $54.0 million provision for litigation related to the settlement and license agreement with Akamai.
Non-GAAP net income was $0.8 million, or $0.01 per basic share, for the year ended December 31, 2016, compared to a non-GAAP net loss of $11.2 million, or $0.11 per basic share, in the same period of 2015.
EBITDA was negative $51.9 million for the year ended December 31, 2016, compared to negative $4.8 million for the year ended December 31, 2015. Adjusted EBITDA was $22.8 million for the year ended December 31, 2016, compared to $6.9 million for the year ended December 31, 2015.
Limelight ended the fourth quarter with 510 employees and employee equivalents, up from 502 at the end of the third quarter of 2016, and up slightly from 509 at the end of 2015.
Commenting on the fourth quarter and full year results, Chief Executive Officer, Robert Lento said, “The fourth quarter was our strongest of the year, and 2016 was our best year ever across a number of operational and financial metrics. These results help solidify our belief, that the transition to profitable growth is underway and gaining momentum.”


Exhibit 99.1

"We operate in an attractive industry and our position is improving significantly. We’ve set aggressive goals for 2017 and we are pleased with the business trends as we begin the year. We believe our disciplined approach to drive better business performance is the best way to build a stronger company that delivers superior solutions for our customers and incremental value for our shareholders."
Based on current conditions, Limelight is confirming the following guidance for 2017:
•
Revenue between $175 million and $180 million,
•
GAAP gross margin expansion greater than 150 basis points over 2016,
•
Non-GAAP earnings per share between $0.02 and $0.06 per share,
•
Adjusted EBITDA is expected to be between $22 million and $27 million, and
•
Capital expenditures at approximately $20 million dollars.  








Exhibit 99.1

Financial Tables
Limelight Networks, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except per share data)
 
December 31,
2016
 
September 30,
2016
 
December 31,
2015
 
 
 
(Unaudited)
 
 
ASSETS
 
 
 
 
 
Current assets:
 
 
 
 
 
Cash and cash equivalents
$
21,734

 
74,400

 
$
44,680

Marketable securities
44,453

 
—

 
28,322

Accounts receivable, net
27,418

 
22,859

 
26,795

Income taxes receivable
125

 
117

 
170

Deferred income taxes
88

 
85

 
89

Prepaid expenses and other current assets
4,865

 
5,347

 
9,578

Total current assets
98,683

 
102,808

 
109,634

Property and equipment, net
30,352

 
29,643

 
36,143

Marketable securities, less current portion
40

 
40

 
40

Deferred income taxes, less current portion
1,017

 
1,317

 
1,252

Goodwill
76,243

 
76,437

 
76,143

Other assets
1,794

 
1,848

 
2,415

Total assets
$
208,129

 
212,093

 
$
225,627

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
Current liabilities:
 
 
 
 
 
Accounts payable
$
8,790

 
9,922

 
$
9,137

Deferred revenue
2,138

 
1,400

 
2,890

Capital lease obligations
—

 
—

 
466

Income taxes payable
188

 
141

 
204

Provision for litigation
18,000

 
18,000

 
—

Other current liabilities
12,836

 
10,828

 
10,857

Total current liabilities
41,952

 
40,291

 
23,554

Capital lease obligations, less current portion
—

 
—

 
1,436

Deferred income taxes
152

 
148

 
137

Deferred revenue, less current portion
22

 
30

 
92

Provision for litigation, less current portion
27,000

 
31,500

 
—

Other long-term liabilities
1,435

 
1,747

 
2,311

Total liabilities
70,561

 
73,716

 
27,530

Commitments and contingencies
 
 
 
 
 
Stockholders’ equity:
 
 
 
 
 
Convertible preferred stock, $0.001 par value; 7,500 shares authorized; no shares issued and outstanding
—

 
—

 
—

Common stock, $0.001 par value; 300,000 shares authorized; 107,059, 105,218 and 102,299 shares issued and outstanding at December 31, 2016, September 30, 2016 and December 31, 2015, respectively
107

 
105

 
102

Additional paid-in capital
490,819

 
486,574

 
477,202

Accumulated other comprehensive loss
(11,038
)
 
(9,901
)
 
(10,812
)
Accumulated deficit
(342,320
)
 
(338,401
)
 
(268,395
)
Total stockholders’ equity
137,568

 
138,377

 
198,097

Total liabilities and stockholders’ equity
$
208,129

 
212,093

 
$
225,627


 


Exhibit 99.1

Limelight Networks, Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
 
Three Months Ended
 
Twelve Months Ended
 
Dec. 31,
 
Sept. 30,
 
Percent
 
Dec. 31,
 
Percent
 
Dec. 31,
 
Dec. 31,
 
Percent
 
2016
 
2016
 
Change
 
2015
 
Change
 
2016
 
2015
 
Change
Revenues
$
43,778

 
$
39,473

 
11
 %
 
$
42,739

 
2
 %
 
$
168,234

 
$
170,912

 
(2
)%
Cost of revenue:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of services (1)
19,642

 
18,834

 
4
 %
 
20,388

 
(4
)%
 
78,857

 
84,818
 
(7
)%
Depreciation — network
4,474

 
4,401

 
2
 %
 
4,811

 
(7
)%
 
18,032

 
17,975
 
—
 %
Total cost of revenue
24,116

 
23,235

 
4
 %
 
25,199

 
(4
)%
 
96,889

 
102,793
 
(6
)%
Gross profit
19,662

 
16,238

 
21
 %
 
17,540

 
12
 %
 
71,345

 
68,119
 
5
 %
Gross profit percentage
44.9
%
 
41.1
%
 
 
 
41.0
%
 
 
 
42.4
%
 
39.9
%
 
 
Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General and administrative (1)
7,960

 
8,033

 
(1
)%
 
5,509

 
44
 %
 
30,042

 
25,027
 
20
 %
Sales and marketing (1)
8,215

 
7,711

 
7
 %
 
8,101

 
1
 %
 
32,945

 
37,868
 
(13
)%
Research and development (1)
6,094

 
5,626

 
8
 %
 
6,678

 
(9
)%
 
24,335

 
28,016
 
(13
)%
Depreciation and amortization
590

 
613

 
(4
)%
 
1,005

 
(41
)%
 
2,452

 
2,929
 
(16
)%
Provision for litigation
—

 
—

 
NA

 
—

 
NA

 
54,000

 
—
 
NM

Total operating expenses
22,859

 
21,983

 
4
 %
 
21,293

 
7
 %
 
143,774

 
93,840
 
53
 %
Operating loss
(3,197
)
 
(5,745
)
 
(44
)%
 
(3,753
)
 
(15
)%
 
(72,429
)
 
(25,721)
 
182
 %
Other income (expense):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
(54
)
 
(406
)
 
(87
)%
 
(25
)
 
116
 %
 
(918
)
 
(29)
 
NM

Interest income
101

 
8

 
NM

 
86

 
17
 %
 
123

 
317
 
(61
)%
Other, net
(570
)
 
151

 
(477
)%
 
(407
)
 
40
 %
 
(98
)
 
1,748
 
(106
)%
Total other income (expense)
(523
)
 
(247
)
 
112
 %
 
(346
)
 
51
 %
 
(893
)
 
2,036
 
(144
)%
Loss before income taxes
(3,720
)
 
(5,992
)
 
(38
)%
 
(4,099
)
 
(9
)%
 
(73,322
)
 
(23,685)
 
210
 %
Income tax expense
199

 
130

 
53
 %
 
46

 
333
 %
 
603

 
267
 
126
 %
Net loss
$
(3,919
)
 
$
(6,122
)
 
(36
)%
 
$
(4,145
)
 
(5
)%
 
$
(73,925
)
 
$
(23,952
)
 
209
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic and diluted
$
(0.04
)
 
$
(0.06
)
 
 
 
$
(0.04
)
 
 
 
$
(0.71
)
 
$
(0.24
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average shares used in per
  share calculation:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic and diluted
105,942

 
104,860

 
 
 
101,391

 
 
 
104,350

 
100,105

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes share-based compensation (see supplemental table for figures)
 
 
 
 
 
 



Exhibit 99.1

Limelight Networks, Inc.
Supplemental Financial Data
(In thousands)
(Unaudited)
 
Three Months Ended
 
Twelve Months Ended
 
Dec. 31,
 
Sept. 30,
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
2016
 
2016
 
2015
 
2016
 
2015
Share-based compensation:
 
 
 
 
 
 
 
 
 
Cost of services
$
375

 
$
209

 
$
563

 
$
1,493

 
$
2,047

General and administrative
1,951

 
1,616

 
1,002

 
7,070

 
5,398

Sales and marketing
776

 
641

 
716

 
2,792

 
2,657

Research and development
581

 
521

 
582

 
2,104

 
2,236

Total share-based compensation
$
3,683

 
$
2,987

 
$
2,863

 
$
13,459

 
$
12,338

 
 
 
 
 
 
 
 
 
 
Depreciation and amortization:
 
 
 
 
 
 
 
 
 
Network-related depreciation
$
4,474

 
$
4,401

 
$
4,811

 
$
18,032

 
$
17,975

Other depreciation and amortization
590

 
611

 
544

 
2,438

 
1,866

Amortization of intangible assets
—

 
2

 
461

 
14

 
1,063

Total depreciation and amortization
$
5,064

 
$
5,014

 
$
5,816

 
$
20,484

 
$
20,904

 
 
 
 
 
 
 
 
 
 
Net decrease in cash, cash equivalents and marketable securities:
$
(8,213
)
 
$
43,515

 
$
3,427

 
$
(6,815
)
 
$
(20,082
)
 
 
 
 
 
 
 
 
 
 
End of period statistics:
 
 
 
 
 
 
 
 
 
Approximate number of active customers
851

 
875

 
963

 
851

 
963

 
 
 
 
 
 
 
 
 
 
Number of employees and employee equivalents
510

 
502

 
509

 
510

 
509




Exhibit 99.1

Limelight Networks, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
 
Three Months Ended
 
Twelve Months Ended
 
Dec. 31,
 
Sept. 30,
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
2016
 
2016
 
2015
 
2016
 
2015
Operating activities
 
 
 
 
 
 
 
 
 
Net loss
$
(3,919
)
 
$
(6,122
)
 
$
(4,145
)
 
$
(73,925
)
 
$
(23,952
)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities of continuing operations:
 
 
 
 
 
 
 
 
 
Depreciation and amortization
5,064

 
5,014

 
5,816

 
20,484

 
20,904

Share-based compensation
3,683

 
2,987

 
2,863

 
13,459

 
12,338

Accrual of provision for litigation
—

 
—

 
—

 
54,000

 
—

Foreign currency remeasurement (gain) loss
76

 
343

 
492

 
585

 
(1,591
)
Deferred income taxes
195

 
(39
)
 
67

 
170

 
46

Gain on sale of property and equipment
(218
)
 
(162
)
 
—

 
(514
)
 
—

Accounts receivable charges
101

 
69

 
299

 
137

 
1,037

Amortization of premium on marketable securities
48

 
—

 
42

 
67

 
194

Realized loss on sale of marketable securities
—

 
—

 
—

 
32

 
—

Changes in operating assets and liabilities:
 
 
 
 
 
 
 
 
 
Accounts receivable
(4,661
)
 
1,944

 
57

 
(760
)
 
(5,210
)
Prepaid expenses and other current assets
315

 
941

 
(490
)
 
4,648

 
(194
)
Income taxes receivable
(15
)
 
16

 
9

 
39

 
44

Other assets
22

 
50

 
1,477

 
580

 
3,064

Accounts payable and other current liabilities
(1,087
)
 
1,769

 
(425
)
 
(1,757
)
 
85

Deferred revenue
730

 
(1,091
)
 
(681
)
 
(822
)
 
(932
)
Income taxes payable
68

 
(21
)
 
(2
)
 
(8
)
 
(80
)
Payments for provision for litigation
(4,500
)
 
(4,500
)
 
—

 
(9,000
)
 
—

Other long term liabilities
(307
)
 
(213
)
 
1,358

 
(857
)
 
688

Net cash provided by (used in) operating activities of continuing operations
(4,405
)
 
985

 
6,737

 
6,558

 
6,441

Investing activities
 
 
 
 
 
 
 
 
 
Purchases of marketable securities
(45,629
)
 
—

 
—

 
(45,629
)
 
(16,821
)
Sale and maturities of marketable securities
1,000

 
—

 
5,700

 
29,315

 
22,620

Change in restricted cash
—

 
62,790

 
—

 
—

 
—

Purchases of property and equipment
(4,897
)
 
(2,986
)
 
(3,960
)
 
(9,563
)
 
(24,714
)
Proceeds from sale of property and equipment
504

 
—

 
—

 
504

 
—

Net cash provided by (used in) investing activities of continuing operations
(49,022
)
 
59,804

 
1,740

 
(25,373
)
 
(18,915
)
Financing activities
 
 
 
 
 
 
 
 
 
Principal payments on capital lease obligations
—

 
(4,207
)
 
(95
)
 
(4,685
)
 
(453
)
Payment of employee tax withholdings related to restricted stock vesting
(676
)
 
(362
)
 
(348
)
 
(1,982
)
 
(2,627
)
Cash paid for purchase of common stock
—

 
—

 
—

 
—

 
(957
)
Proceeds from line of credit
—

 
(12,790
)
 
—

 
—

 
—

Proceeds from employee stock plans
1,839

 
48

 
1,287

 
2,743

 
4,018

Net cash provided by (used in) financing activities of continuing operations
1,163

 
(17,311
)
 
844

 
(3,924
)
 
(19
)
Effect of exchange rate changes on cash and cash equivalents
(402
)
 
37

 
(93
)
 
(207
)
 
(594
)
Net increase (decrease) in cash and cash equivalents
(52,666
)
 
43,515

 
9,228

 
(22,946
)
 
(13,087
)
Cash and cash equivalents, beginning of period
74,400

 
30,885

 
35,452

 
44,680

 
57,767

Cash and cash equivalents, end of period
$
21,734

 
$
74,400

 
$
44,680

 
$
21,734

 
$
44,680

Use of Non-GAAP Financial Measures
To evaluate our business, we consider and use non-generally accepted accounting principles (Non-GAAP) net income (loss), EBITDA and Adjusted EBITDA as supplemental measures of operating performance. These measures include the same adjustments that management takes into account when it reviews and assesses operating performance on a period-to-period basis. We consider Non-GAAP net income (loss) to be an important indicator of overall business performance. We define Non-GAAP net income (loss) to be U.S. GAAP net loss, adjusted to exclude provision for litigation, share-based compensation, litigation expenses, and amortization of intangible assets. We believe that EBITDA provides a useful metric to investors to compare us with other companies within our industry and across industries. We define EBITDA as U.S. GAAP net income (loss) adjusted to exclude depreciation and amortization, interest expense, interest and other (income) expense, and income tax expense. We define Adjusted EBITDA as EBITDA adjusted to exclude provision for litigation, share-based compensation and


Exhibit 99.1

litigation expenses. We use Adjusted EBITDA as a supplemental measure to review and assess operating performance. Our management uses these Non-GAAP financial measures because, collectively, they provide valuable information on the performance of our on-going operations, excluding non-cash charges, taxes and non-core activities (including interest payments related to financing activities). These measures also enable our management to compare the results of our on-going operations from period to period, and allow management to review the performance of our on-going operations against our peer companies and against other companies in our industry and adjacent industries. We believe these measures also provide similar insights to investors, and enable investors to review our results of operations “through the eyes of management.”
Furthermore, our management uses these Non-GAAP financial measures to assist them in making decisions regarding our strategic priorities and areas for future investment and focus.
The terms Non-GAAP net income (loss), EBITDA and Adjusted EBITDA are not defined under U.S. GAAP, and are not measures of operating income, operating performance or liquidity presented in accordance with U.S. GAAP. Our Non-GAAP net income (loss), EBITDA and Adjusted EBITDA have limitations as analytical tools, and when assessing our operating performance, Non-GAAP net income (loss), EBITDA and Adjusted EBITDA should not be considered in isolation, or as a substitute for net income (loss) or other consolidated income statement data prepared in accordance with U.S. GAAP. Some of these limitations include, but are not limited to:
•
EBITDA and Adjusted EBITDA do not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments;
•
these measures do not reflect changes in, or cash requirements for, our working capital needs;
•
Non- GAAP net income (loss) and Adjusted EBITDA do not reflect the cash requirements necessary for litigation costs, including provision for litigation and litigation expenses;
•
these measures do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on our debt that we may incur;
•
these measures do not reflect income taxes or the cash requirements for any tax payments;
•
although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will be replaced sometime in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements;
•
while share-based compensation is a component of operating expense, the impact on our financial statements compared to other companies can vary significantly due to such factors as the assumed life of the options and the assumed volatility of our common stock; and
•
other companies may calculate Non-GAAP net income (loss), EBITDA and Adjusted EBITDA differently than we do, limiting their usefulness as comparative measures.
We compensate for these limitations by relying primarily on our U.S. GAAP results and using Non-GAAP net income (loss), EBITDA and Adjusted EBITDA only as supplemental support for management’s analysis of business performance. Non-GAAP net income (loss), EBITDA and Adjusted EBITDA are calculated as follows for the periods presented in thousands:
Reconciliation of Non-GAAP Financial Measures
Limelight is presenting the most directly comparable U.S. GAAP financial measures and reconciling the non-GAAP financial metrics to the comparable U.S. GAAP measures. Per share amounts may not foot due to rounding.




Exhibit 99.1


Limelight Networks, Inc.
Reconciliation of U.S. GAAP Net Loss to Non-GAAP Net Income (Loss)
(In thousands)
(Unaudited)
 
Three Months Ended
 
Twelve Months Ended
 
December 31, 2016
 
September 30, 2016
 
December 31, 2015
 
December 31, 2016
 
December 31, 2015
 
Amount
 
Per Share
 
Amount
 
Per Share
 
Amount
 
Per Share
 
Amount
 
Per Share
 
Amount
 
Per Share
U.S. GAAP net loss
$
(3,919
)
 
$
(0.04
)
 
$
(6,122
)
 
$
(0.06
)
 
$
(4,145
)
 
$
(0.04
)
 
$
(73,925
)
 
$
(0.71
)
 
$
(23,952
)
 
$
(0.24
)
Provision for litigation
—

 
—

 
—

 
—

 
—

 
—

 
54,000

 
0.52

 
—

 
—

Share-based compensation
3,683

 
0.03

 
2,987

 
0.03

 
2,863

 
0.03

 
13,459

 
0.13

 
12,338

 
0.12

Litigation expenses
1,998

 
0.02

 
2,837

 
0.03

 
402

 
—

 
7,284

 
0.07

 
(613
)
 
(0.01
)
Amortization of intangible assets
—

 
—

 
2

 
—

 
461

 
—

 
14

 
—

 
1,063

 
0.01

Non-GAAP net income (loss)
$
1,762

 
$
0.02

 
$
(296
)
 
$
—

 
$
(419
)
 
$
—

 
$
832

 
$
0.01

 
$
(11,164
)
 
$
(0.11
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average shares
used in per share calculation:
 
 
105,942

 
 
 
104,860

 
 
 
101,391

 
 
 
104,350

 
 
 
100,105



Limelight Networks, Inc.
Reconciliation of U.S. GAAP Net Loss to EBITDA to Adjusted EBITDA
(In thousands)
(Unaudited)
 
Three Months Ended
 
Twelve Months Ended
 
December 31,
 
September 30,
 
December 31,
 
December 31,
 
December 31,
 
2016
 
2016
 
2015
 
2016
 
2015
U.S. GAAP net loss
$
(3,919
)
 
$
(6,122
)
 
$
(4,145
)
 
$
(73,925
)
 
$
(23,952
)
Depreciation and amortization
5,064

 
5,014

 
5,816

 
20,484

 
20,904

Interest expense
54

 
406

 
25

 
918

 
29

Interest and other (income) expense
469

 
(159
)
 
321

 
(25
)
 
(2,065
)
Income tax expense
199

 
130

 
46

 
603

 
267

EBITDA
$
1,867

 
$
(731
)
 
$
2,063

 
$
(51,945
)
 
$
(4,817
)
Provision for litigation
—

 
—

 
—

 
54,000

 
—

Share-based compensation
3,683

 
2,987

 
2,863

 
13,459

 
12,338

Litigation expenses
1,998

 
2,837

 
402

 
7,284

 
(613
)
Adjusted EBITDA
$
7,548

 
$
5,093

 
$
5,328

 
$
22,798

 
$
6,908

For future periods, we are unable to provide a reconciliation of EBITDA and Adjusted EBITDA to net loss as a result of the uncertainty regarding, and the potential variability of, the amounts of depreciation and amortization, interest expense, interest and other (income) expense and income tax expense, that may be incurred in the future.
Conference Call
At approximately 4:30 p.m. EST (1:30 p.m. PST) today, management will host a quarterly conference call for investors. Investors can access this call toll-free at 877-388-8480 within the United States or +1 678-809-1592 outside of the U.S. The conference call will also be audio cast live from http://www.limelight.com and a replay will be available following the call from the Limelight website.


Exhibit 99.1

Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. These statements include, among others, statements regarding our expectations regarding revenue, gross margin, non-GAAP net income, capital expenditures, litigation, and our future prospects. Our expectations and beliefs regarding these matters may not materialize. The potential risks and uncertainties that could cause actual results or outcomes to differ materially from the results or outcomes predicted include, among other things, reduction of demand for our services from new or existing customers, unforeseen changes in our hiring patterns, adverse outcomes in litigation, and experiencing expenses that exceed our expectations. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Forms 10-K and 10-Q, particularly under the heading “Risk Factors.” Copies of these filings are available online on our investor relations website at investors.limelightnetworks.com and on the SEC website at www.SEC.gov. All information provided in this release and in the attachments is as of February 8, 2017, and we undertake no duty to update this information in light of new information or future events, unless required by law.
About Limelight
Limelight Networks (NASDAQ: LLNW), a global leader in digital content delivery, empowers customers to better engage online audiences by enabling them to securely manage and globally deliver digital content, on any device. The company’s award winning Limelight Orchestrate™ platform includes an integrated suite of content delivery technology and services that helps organizations secure digital content, deliver exceptional multi-screen experiences, improve brand awareness, drive revenue, and enhance customer relationships - all while reducing costs.  For more information, please visit www.limelight.com, read our blog, follow us on Twitter , Facebook and LinkedIn and be sure to visit Limelight Connect.
Copyright (C) 2017 Limelight Networks, Inc. All rights reserved. All product or service names are the property of their respective owners.
Source: Limelight Networks
Language:
English
CONTACT:
Limelight Networks, Inc.
Sajid Malhotra, 602-850-5778
ir@llnw.com
Ticker Slug:
Ticker: LLNW
Exchange: NASDAQ



Limelight Networks, Inc. Reports