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Twitter, Inc. (TWTR) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

SEC Filings

Twitter, Inc.

CIK: 1418091 Ticker: TWTR

 

Exhibit 99.1

Twitter Reports Fourth Quarter and Fiscal Year 2014 Results

SAN FRANCISCO, Calif. – February 5, 2015 – Twitter, Inc. (NYSE: TWTR) today announced financial results for the quarter and fiscal year ended December 31, 2014.

·

Q4 revenue of $479 million, up 97% year-over-year

·

Q4 net loss of $125 million and non-GAAP net income of $79 million

·

Q4 GAAP EPS of ($0.20) and non-GAAP EPS of $0.12

·

Q4 adjusted EBITDA of $141 million, representing an adjusted EBITDA margin of 30%

·

2014 revenue of $1,403 million, up 111% year-over-year

·

2014 net loss of $578 million and non-GAAP net income of $101 million

·

2014 GAAP EPS of ($0.96) and non-GAAP EPS of $0.14

·

2014 adjusted EBITDA of $301 million, representing an adjusted EBITDA margin of 21%

“We closed out the year with our business advancing at a great pace. Revenue growth accelerated again for the full year, and we had record quarterly profits on an adjusted EBITDA basis,” said Dick Costolo, CEO of Twitter. “In addition, the trend thus far in Q1 leads us to believe that the absolute number of net users added in Q1 will be similar to what we saw during the first three quarters of 2014.”

Fourth Quarter and Fiscal 2014

Financial Summary

(In thousands, except per share data)

 

 

Three Months Ended

 

 

Year Ended

 

 

December 31,

 

 

December 31,

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

GAAP Results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

$

479,078

 

 

$

242,675

 

 

$

1,403,002

 

 

$

664,890

 

Net loss

$

(125,352

)

 

$

(511,471

)

 

$

(577,820

)

 

$

(645,323

)

Diluted net loss per share

$

(0.20

)

 

$

(1.41

)

 

$

(0.96

)

 

$

(3.41

)

Non-GAAP Results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDA

$

141,490

 

 

$

44,745

 

 

$

300,896

 

 

$

75,430

 

Non-GAAP net income (loss)

$

79,320

 

 

$

9,774

 

 

$

101,071

 

 

$

(34,330

)

Non-GAAP diluted net income (loss) per share

$

0.12

 

 

$

0.02

 

 

$

0.14

 

 

$

(0.18

)

For information regarding the non-GAAP financial measures discussed in this release, please see “Non-GAAP Financial Measures” and “Reconciliation of GAAP to Non-GAAP Financial Measures” below.

Fourth Quarter 2014 Operational Highlights

·

Average Monthly Active Users (MAUs) were 288 million for the fourth quarter, an increase of 20% year-over-year, which reflects a loss of approximately 4 million net Monthly Active Users in the fourth quarter due to changes in third party integrations.

·

Average Mobile MAUs represented approximately 80% of total MAUs.

·

Timeline views reached 182 billion for the fourth quarter of 2014, an increase of 23% year-over-year.

·

Advertising revenue per thousand timeline views reached $2.37 in the fourth quarter of 2014, an increase of 60% year-over-year.

 


The following information was filed by Twitter, Inc. (TWTR) on Thursday, February 5, 2015 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Redeemable Convertible Preferred Stock, Convertible Preferred Stock And Stockholders' Equity (deficit)
Acquisitions
Acquisitions (tables)
Acquisitions - Additional Information (details)
Acquisitions - Summary Of Unaudited Pro Forma Results Of Operations (details)
Cash, Cash Equivalents And Short-term Investments
Cash, Cash Equivalents And Short-term Investments (tables)
Cash, Cash Equivalents And Short-term Investments - Additional Information (details)
Cash, Cash Equivalents And Short-term Investments - Cash, Cash And Equivalents And Short-term Investments (details)
Cash, Cash Equivalents And Short-term Investments - Summary Of Short-term Investments In Unrealized Loss Position And Related Gross Unrealized Losses And Fair Value, Aggregated By Investment Category And Length Of Time (details)
Cash, Cash Equivalents And Short-term Investments - Summary Of Unrealized Gains And Losses Related To Available-for-sale Securities Classified As Short-term Investments (details)
Commitment And Contingencies (tables)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (details)
Commitments And Contingencies - Minimum Commitments Under Non-cancelable Capital And Operating Lease Agreements (details)
Common Stock And Stockholders' Equity (deficit)
Common Stock And Stockholders' Equity (deficit) (tables)
Common Stock And Stockholders' Equity (deficit) - Additional Information (details)
Common Stock And Stockholders' Equity (deficit) - Compensation Expense Allocated (details)
Common Stock And Stockholders' Equity (deficit) - Schedule Of Share-based Payment Award, Valuation Assumptions (details)
Common Stock And Stockholders' Equity (deficit) - Summary Of Restricted Stock Activity (details)
Common Stock And Stockholders' Equity (deficit) - Summary Of Rsu Activity (details)
Common Stock And Stockholders' Equity (deficit) - Summary Of Stock Option Activity (details)
Convertible Notes
Convertible Notes (tables)
Convertible Notes - Additional Information (details)
Convertible Notes - Components Of Notes (details)
Employee Benefit Plan
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Additional Information (details)
Fair Value Measurements - Schedule Of Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets - Additional Information (details)
Goodwill And Intangible Assets - Schedule Of Estimated Future Amortization Expenses (details)
Goodwill And Intangible Assets - Schedule Of Goodwill Activities (details)
Goodwill And Intangible Assets - Schedule Of Intangible Assets (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (details)
Income Taxes - Components Of Provision (benefit) For Income Taxes (details)
Income Taxes - Schedule Of Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefit (details)
Income Taxes - Schedule Of Reconciliation Of Statutory Federal Income Tax Rate To Effective Tax Rate (details)
Income Taxes - Schedule Of Tax Effects Of Temporary Differences And Related Deferred Tax Assets And Liabilities (details)
Income Taxes - Summary Of Domestic And Foreign Components Of Pre-tax Loss (details)
Income Taxes - Summary Of Remaining Balances Recorded In Balance Sheets (details)
Net Loss Per Share
Net Loss Per Share (tables)
Net Loss Per Share - Additional Information (details)
Net Loss Per Share - Basic And Diluted Net Loss Per Share (details)
Net Loss Per Share - Summary Of Potential Common Shares Excluded From Calculation Of Diluted Net Loss Per Share Attributable To Common Stockholders (details)
Other Balance Sheet Components
Other Balance Sheet Components (tables)
Other Balance Sheet Components - Accrued And Other Current Liabilities (details)
Other Balance Sheet Components - Prepaid And Other Current Assets (details)
Preferred Stock
Preferred Stock - Additional Information (details)
Property And Equipment, Net
Property And Equipment, Net (tables)
Property And Equipment, Net - Additional Information (details)
Property And Equipment, Net - Schedule Of Property And Equipment, Net (details)
Related Party Transactions
Related Party Transactions - Additional Infomation (details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (details)
Segment Information And Operations By Geographic Area
Segment Information And Operations By Geographic Area (tables)
Segment Information And Operations By Geographic Area - Additional Information (details)
Segment Information And Operations By Geographic Area - Property And Equipment Net By Geographic Area (details)
Segment Information And Operations By Geographic Area - Revenue By Geographic Area (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (details)
Summary Of Significant Accounting Policies - Schedule Of Estimated Useful Lives Of Property And Equipment (details)
The Company
Ticker: TWTR
CIK: 1418091
Form Type: 10-K Annual Report
Accession Number: 0001564590-15-001159
Submitted to the SEC: Mon Mar 02 2015 9:35:45 AM EST
Accepted by the SEC: Mon Mar 02 2015
Period: Wednesday, December 31, 2014
Industry: Computer Programming Data Processing

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