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Exhibit 99.1
MIMECAST LIMITED
CONDENSED CONSOLIDATED BALANCE SHEET
(in thousands)
(unaudited)
| As of March 31, |
||||
| 2018 | ||||
| Assets |
||||
| Current assets |
||||
| Cash and cash equivalents |
$ | 78,339 | ||
| Short-term investments |
58,871 | |||
| Accounts receivable, net |
65,392 | |||
| Prepaid expenses and other current assets |
15,302 | |||
|
|
|
|||
| Total current assets |
217,904 | |||
| Property and equipment, net |
123,822 | |||
| Intangible assets, net |
9,819 | |||
| Goodwill |
5,631 | |||
| Other assets |
1,222 | |||
|
|
|
|||
| Total assets |
$ | 358,398 | ||
|
|
|
|||
| Liabilities and shareholders’ equity |
||||
| Current liabilities |
||||
| Accounts payable |
$ | 6,052 | ||
| Accrued expenses and other current liabilities |
33,878 | |||
| Deferred revenue |
123,057 | |||
| Current portion of capital lease obligations |
1,125 | |||
| Current portion of long-term debt |
— | |||
|
|
|
|||
| Total current liabilities |
164,112 | |||
| Deferred revenue, net of current portion |
18,045 | |||
| Long-term capital lease obligations |
2,390 | |||
| Construction financing lease obligation |
67,205 | |||
| Other non-current liabilities |
4,954 | |||
|
|
|
|||
| Total liabilities |
256,706 | |||
| Commitments and contingencies |
||||
| Shareholders’ equity |
||||
| Ordinary shares |
707 | |||
| Additional paid-in capital |
212,839 | |||
| Accumulated deficit |
(106,507 | ) | ||
| Accumulated other comprehensive loss |
(5,347 | ) | ||
|
|
|
|||
| Total shareholders’ equity |
101,692 | |||
|
|
|
|||
| Total liabilities and shareholders’ equity |
$ | 358,398 | ||
|
|
|
|||
MIMECAST LIMITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(unaudited)
| Three months ended March 31, |
Year Ended March 31, |
|||||||
| 2018 | 2018 | |||||||
| Revenue |
$ | 73,401 | $ | 261,897 | ||||
| Cost of revenue |
20,176 | 69,699 | ||||||
|
|
|
|
|
|||||
| Gross profit |
53,225 | 192,198 | ||||||
|
|
|
|
|
|||||
| Operating expenses |
||||||||
| Research and development |
12,185 | 38,373 | ||||||
| Sales and marketing |
32,342 | 121,246 | ||||||
| General and administrative |
10,360 | 36,989 | ||||||
| Impairment of long-lived assets |
1,712 | 1,712 | ||||||
| Restructuring |
832 | 832 | ||||||
|
|
|
|
|
|||||
| Total operating expenses |
57,431 | 199,152 | ||||||
|
|
|
|
|
|||||
| Loss from operations |
(4,206 | ) | (6,954 | ) | ||||
| Other income (expense) |
||||||||
| Interest income |
456 | 1,310 | ||||||
| Interest expense |
(442 | ) | (598 | ) | ||||
| Foreign exchange expense |
(1,452 | ) | (3,511 | ) | ||||
| Other income, net |
72 | 72 | ||||||
|
|
|
|
|
|||||
| Total other income (expense), net |
(1,366 | ) | (2,727 | ) | ||||
|
|
|
|
|
|||||
| Loss before income taxes |
(5,572 | ) | (9,681 | ) | ||||
| Provision for income taxes |
982 | 2,705 | ||||||
|
|
|
|
|
|||||
| Net loss |
$ | (6,554 | ) | $ | (12,386 | ) | ||
|
|
|
|
|
|||||
| Net loss per ordinary share |
||||||||
| Basic and diluted |
$ | (0.11 | ) | $ | (0.22 | ) | ||
| Weighted-average number of ordinary shares outstanding |
||||||||
| Basic and diluted |
58,264 | 57,269 | ||||||
MIMECAST LIMITED
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(in thousands)
(unaudited)
| Year ended March 31, |
||||
| 2018 | ||||
| Operating activities |
||||
| Net loss |
$ | (12,386 | ) | |
| Adjustments to reconcile net loss to net cash provided by operating activities: |
||||
| Depreciation and amortization |
18,960 | |||
| Share-based compensation expense |
11,734 | |||
| Provision for doubtful accounts |
185 | |||
| Impairment of long-lived assets |
1,712 | |||
| Loss on disposal of fixed assets |
181 | |||
| Other non-cash items |
184 | |||
| Unrealized currency loss on foreign denominated transactions |
2,958 | |||
| Changes in assets and liabilities: |
||||
| Accounts receivable |
(18,120 | ) | ||
| Prepaid expenses and other current assets |
(5,037 | ) | ||
| Other assets |
33 | |||
| Accounts payable |
(104 | ) | ||
| Deferred revenue |
39,042 | |||
| Accrued expenses and other liabilities |
7,070 | |||
|
|
|
|||
| Net cash provided by operating activities |
46,412 | |||
| Investing activities |
||||
| Purchases of investments |
(76,948 | ) | ||
| Maturities of investments |
77,808 | |||
| Purchases of property, equipment and capitalized software |
(34,498 | ) | ||
| Payments for acquisitions |
(1,381 | ) | ||
|
|
|
|||
| Net cash used in investing activities |
(35,019 | ) | ||
| Financing activities |
||||
| Proceeds from issuance of ordinary shares |
17,039 | |||
| Payments on debt |
(1,825 | ) | ||
| Payments on capital lease obligations |
(1,039 | ) | ||
| Payments on construction financing lease obligation |
(1,019 | ) | ||
|
|
|
|||
| Net cash provided by financing activities |
13,156 | |||
| Effect of foreign exchange rates on cash |
2,471 | |||
|
|
|
|||
| Net increase in cash and cash equivalents |
27,020 | |||
| Cash and cash equivalents at beginning of period |
51,319 | |||
|
|
|
|||
| Cash and cash equivalents at end of period |
$ | 78,339 | ||
|
|
|
|||
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Ticker: MIME
CIK: 1644675
Form Type: 8-K Corporate News
Accession Number: 0001193125-18-176800
Submitted to the SEC: Tue May 29 2018 4:15:55 PM EST
Accepted by the SEC: Tue May 29 2018
Period: Tuesday, May 22, 2018
Industry: Prepackaged Software
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