Aerohive Networks was founded in 2006 and is headquartered in Milpitas, US

CEO

Founder and CTO

VP, Legal Services

Investor, Board Member

Aerohive Networks has offices in Milpitas, Atlanta, Portland, Surrey and in 6 other locations

Milpitas, US (HQ)

1011 McCarthy Blvd

Alexandria, AU

100 Collins St

Amstelveen, NL

2 Professor J.H. Bavincklaan

Boulogne-Billancourt, FR

121 Rue d'Aguesseau

Surrey, GB

16 West St

Portland, US

111 SW 5th Ave

Aerohive Networks's revenue was reported to be $36.4 m in Q1, 2017

USD

## Revenue (Q1, 2017) | 36.4 m |

## Gross profit (Q1, 2017) | 24.4 m |

## Gross profit margin (Q1, 2017), % | 67% |

## Net income (Q1, 2017) | (9 m) |

## EBIT (Q1, 2017) | (8.8 m) |

## Market capitalization (17-Aug-2017) | 182.9 m |

## Cash (31-Mar-2017) | 28.9 m |

Aerohive Networks's current market capitalization is $182.9 m.

- Source: SEC Filings

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|

## Revenue | 137.3 m | 151.7 m | 169.8 m |

## Revenue growth, % | 10% | 12% | |

## Cost of goods sold | 44.8 m | 50.4 m | 55.3 m |

## Gross profit | 92.5 m | 101.3 m | 114.5 m |

## Gross profit Margin, % | 67% | 67% | 67% |

## Sales and marketing expense | 72.4 m | 83.1 m | 81 m |

## R&D expense | 27.5 m | 36.9 m | 41.5 m |

## General and administrative expense | 21.2 m | 26.3 m | 28.8 m |

## Operating expense total | 121.1 m | 146.3 m | 151.3 m |

## EBIT | (28.6 m) | (45 m) | (36.8 m) |

## EBIT margin, % | (21%) | (30%) | (22%) |

## Interest expense | (1.8 m) | (1.2 m) | (474 k) |

## Interest income | 37 k | 108 k | 468 k |

## Pre tax profit | (30.1 m) | (45.8 m) | (36.6 m) |

## Income tax expense | (441 k) | (352 k) | 269 k |

## Net Income | (30.6 m) | (46.2 m) | (36.9 m) |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 37.6 m | 35.3 m | 25.8 m | 36.8 m | 42.8 m | 40.1 m | 47.6 m | 40.4 m | 36.4 m |

## Cost of goods sold | 12.2 m | 11.4 m | 8.6 m | 12.1 m | 14.4 m | 13.3 m | 15.5 m | 13.2 m | 11.9 m |

## Gross profit | 25.4 m | 23.9 m | 17.2 m | 24.7 m | 28.4 m | 26.8 m | 32.2 m | 27.2 m | 24.4 m |

## Gross profit Margin, % | 68% | 68% | 67% | 67% | 66% | 67% | 68% | 67% | 67% |

## Sales and marketing expense | 19 m | 18.1 m | 18.8 m | 20.8 m | 22.1 m | 21.1 m | 21.3 m | 19.6 m | 17.4 m |

## R&D expense | 6.8 m | 7.5 m | 7.5 m | 8.9 m | 10.1 m | 10.2 m | 10.6 m | 10.7 m | 9.6 m |

## General and administrative expense | 5.1 m | 5.2 m | 6.2 m | 6.2 m | 7.2 m | 7.9 m | 7.7 m | 6.5 m | 6.3 m |

## Operating expense total | 31 m | 30.8 m | 32.5 m | 35.9 m | 39.4 m | 39.2 m | 39.6 m | 36.8 m | 33.3 m |

## EBIT | (5.6 m) | (6.9 m) | (15.3 m) | (11.2 m) | (11 m) | (12.4 m) | (7.4 m) | (9.6 m) | (8.8 m) |

## EBIT margin, % | (15%) | (20%) | (59%) | (30%) | (26%) | (31%) | (16%) | (24%) | (24%) |

## Interest expense | (459 k) | (458 k) | (754 k) | (173 k) | (140 k) | (126 k) | (110 k) | (115 k) | (130 k) |

## Interest income | 8 k | 10 k | 14 k | 19 k | 21 k | 119 k | 117 k | 109 k | 140 k |

## Pre tax profit | (6.1 m) | (7.3 m) | (16 m) | (11.3 m) | (11.1 m) | (12.4 m) | (7.3 m) | (9.6 m) | (8.9 m) |

## Income tax expense | (135 k) | (81 k) | (108 k) | (99 k) | (215 k) | (145 k) | (68 k) | (85 k) | 97 k |

## Net Income | (6.3 m) | (7.4 m) | (16.1 m) | (27.5 m) | (38.8 m) | (12.5 m) | (19.9 m) | (29.6 m) | (9 m) |

- Source: SEC Filings

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|

## Cash | 98 m | 45.7 m | 34.3 m |

## Accounts Receivable | 524 k | ||

## Inventories | 8.4 m | 10.8 m | 12.6 m |

## Current Assets | 134.7 m | 130.8 m | 121.9 m |

## PP&E | 8.9 m | 9.2 m | 9 m |

## Goodwill | 513 k | 513 k | 513 k |

## Total Assets | 144.3 m | 140.9 m | 136.5 m |

## Accounts Payable | 10.2 m | 15.1 m | 10.8 m |

## Current Liabilities | 53.8 m | 54.9 m | 71.8 m |

## Total Liabilities | 107.8 m | ||

## Retained Earnings | (150.9 m) | (197.1 m) | (227.3 m) |

## Total Equity | 34.2 m | 28.7 m | |

## Financial Leverage | 4.1 x | 4.8 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 103.9 m | 106.2 m | 92.7 m | 85.4 m | 88.2 m | 41.4 m | 39.3 m | 43.9 m | 28.9 m |

## Inventories | 12.1 m | 9.5 m | 11.4 m | 11.9 m | 11.8 m | 11.5 m | 14.7 m | 15.7 m | 11.7 m |

## Current Assets | 142.9 m | 137.3 m | 124.7 m | 122.8 m | 121.4 m | 130.5 m | 136 m | 124.8 m | 115.1 m |

## PP&E | 5.8 m | 7.2 m | 10.4 m | 10.1 m | 9.9 m | 8.5 m | 9.9 m | 9.6 m | 8.2 m |

## Goodwill | 513 k | 513 k | 513 k | 513 k | 513 k | 513 k | 513 k | 513 k | 513 k |

## Total Assets | 149.4 m | 145.2 m | 135.8 m | 133.7 m | 132.1 m | 145.1 m | 151.8 m | 140.2 m | 128.9 m |

## Accounts Payable | 16.5 m | 10.4 m | 12.7 m | 12 m | 10 m | 14.5 m | 17.1 m | 13.5 m | 9.7 m |

## Current Liabilities | 53.5 m | 51.1 m | 43.9 m | 45 m | 48.8 m | 79.7 m | 83.8 m | 75.5 m | 51 m |

## Retained Earnings | (135.5 m) | (142.9 m) | (166.9 m) | (178.4 m) | (189.7 m) | (202.9 m) | (210.3 m) | (220 m) | (236.5 m) |

## Total Equity | 41 m | 34.2 m | 32.4 m | 32.7 m | 28.7 m | 23.1 m | |||

## Financial Leverage | 3.3 x | 3.9 x | 4.5 x | 4.6 x | 4.9 x | 5.6 x |

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|

## Net Income | (30.6 m) | (46.2 m) | (36.9 m) |

## Depreciation and Amortization | 2.3 m | 3.5 m | 3.5 m |

## Accounts Receivable | (7.1 m) | 1.9 m | (3.4 m) |

## Inventories | (1.5 m) | (2.4 m) | (1.9 m) |

## Accounts Payable | 1.3 m | 5.2 m | (4.5 m) |

## Cash From Operating Activities | 63 m | (52.3 m) | (14.6 m) |

## Purchases of PP&E | (2.4 m) | (2.3 m) | (2.2 m) |

## Cash From Investing Activities | (6.7 m) | (50.9 m) | 276 k |

## Long-term Borrowings | 10 m | ||

## Cash From Financing Activities | 78.5 m | 3.6 m | 2.9 m |

## Interest Paid | 1.4 m | 984 k | 484 k |

## Income Taxes Paid | 420 k | 519 k | 666 k |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | (6.3 m) | (7.4 m) | (16.1 m) | (27.5 m) | (38.8 m) | (12.5 m) | (19.9 m) | (29.6 m) | (9 m) |

## Depreciation and Amortization | 619 k | 1.6 m | 2.6 m | 896 k | 1.8 m | 2.7 m | 842 k | ||

## Accounts Receivable | 7.1 m | 3.9 m | 8.3 m | 1.9 m | (6.7 m) | 352 k | 4.6 m | ||

## Inventories | 12.1 m | 9.5 m | (3 m) | (3.6 m) | (3.4 m) | (714 k) | (3.9 m) | (4.9 m) | 961 k |

## Accounts Payable | 16.5 m | 10.4 m | 2.5 m | 1.8 m | (17 k) | (684 k) | 1.1 m | (2 m) | (885 k) |

## Cash From Operating Activities | (2.9 m) | (11.6 m) | (7.1 m) | (3.3 m) | (12.2 m) | (10.3 m) | (1.6 m) | ||

## Purchases of PP&E | (452 k) | (936 k) | (2 m) | (337 k) | (735 k) | (1.7 m) | (223 k) | ||

## Cash From Investing Activities | (2.2 m) | (2.8 m) | (3.9 m) | (43 k) | 4.6 m | 7.9 m | (3.7 m) | ||

## Long-term Borrowings | (10 m) | (10 m) | (10 m) | ||||||

## Cash From Financing Activities | (203 k) | 1.8 m | 1.1 m | (988 k) | 1.3 m | 625 k | (151 k) | ||

## Interest Paid | 608 k | 704 k | 845 k | 139 k | 249 k | 364 k | 126 k | ||

## Income Taxes Paid | 243 k | 356 k | 394 k | 249 k | 391 k | 535 k | 99 k |

USD | Y, 2017 |
---|---|

## Revenue/Employee | 58.6 k |

## Financial Leverage | 5.6 x |

Aerohive Networks's Customers was reported to be 30 k in FY, 2016, which is a 25% increase from the previous period. Aerohive Networks's Patent Applications was reported to be 48 in FY, 2016, which is a 14% increase from the previous period

Source: 42 public H-1B filings from Aerohive Networks