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Opower Announces First Quarter 2016 Financial Results
Arlington, Va. May 9, 2016 Opower (NYSE: OPWR), the global leader in cloud-based software for the utility industry, today announced its financial results for the first quarter ended March 31, 2016.
First Quarter 2016 Financial Highlights
|||Total revenue was $36.7 million, an increase of 10 percent from the comparable period in 2015.|
|||GAAP operating loss was $11.8 million, compared to $9.9 million for the comparable period in 2015.|
|||Non-GAAP operating loss was $4.7 million, compared to $4.9 million for the comparable period in 2015.|
|||GAAP net loss was $11.2 million, compared to $11.0 million for the comparable period in 2015. GAAP net loss per share was $0.21, based on diluted weighted-average shares outstanding of 52.9 million. This compares to a GAAP net loss per share of $0.22 for the comparable period in 2015.|
|||Non-GAAP net loss was $4.1 million, compared with $6.0 million for the comparable period in 2015. Non-GAAP net loss per diluted share was $0.08, based on diluted weighted-average shares outstanding of 52.9 million. This compares to a non-GAAP net loss per share of $0.12 for the comparable period in 2015.|
|||Adjusted EBITDA was $(1.7) million, compared to $(2.4) million for the comparable period in 2015.|
|||The Company had $89.6 million in cash, cash equivalents, and investments at March 31, 2016.|
Conference Call Information
As a result of the earlier announcement that Oracle plans to purchase Opower, the conference call previously scheduled for today to discuss Opowers financial results has been canceled.
Non-GAAP Financial Measures
This press release contains the following non-GAAP financial measures: Non-GAAP operating loss, non-GAAP net loss, non-GAAP net loss per share, non-GAAP weighted-average common shares outstanding and adjusted EBITDA.
The following information was filed by Opower, Inc. (OPWR) on Monday, May 9, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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