Aerohive Networks (HIVE) Financials

$230.5 M

Mkt cap, 25-May-2018

$35.8 M

Revenue Q1, 2018
Gross profit (Q1, 2018)23.7 M
Gross profit margin (Q1, 2018), %66.2%
Net income (Q1, 2018)-7.3 M
EBIT (Q1, 2018)-7.2 M
Cash, 31-Mar-201821.5 M

Revenue/Financials

Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

137.3 m151.7 m169.8 m152.9 m

Revenue growth, %

10%12%(10%)

Cost of goods sold

44.8 m50.4 m55.3 m50.2 m

Gross profit

92.5 m101.3 m114.5 m102.7 m

Gross profit Margin, %

67%67%67%67%

Sales and marketing expense

72.4 m83.1 m81 m65.3 m

R&D expense

27.5 m36.9 m41.5 m36.4 m

General and administrative expense

21.2 m26.3 m28.8 m23.1 m

Operating expense total

121.1 m146.3 m151.3 m124.8 m

EBIT

(28.6 m)(45 m)(36.8 m)(22.2 m)

EBIT margin, %

(21%)(30%)(22%)(14%)

Interest expense

1.8 m1.2 m474 k567 k

Interest income

37 k108 k468 k720 k

Pre tax profit

(30.1 m)(45.8 m)(36.6 m)(22.3 m)

Income tax expense

(441 k)(352 k)269 k603 k

Net Income

(30.6 m)(46.2 m)(36.9 m)(22.9 m)

Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Cash

98 m45.7 m34.3 m27.2 m

Accounts Receivable

24.7 m22.8 m42.4 m17.7 m

Prepaid Expenses

2.6 m4.1 m6.3 m6.5 m

Inventories

8.4 m10.8 m12.6 m13.5 m

Current Assets

134.7 m130.8 m121.9 m122.6 m

PP&E

8.9 m9.2 m9 m6.4 m

Goodwill

513 k513 k513 k513 k

Total Assets

144.3 m140.9 m136.5 m134.6 m

Accounts Payable

10.2 m15.1 m10.8 m11.9 m

Short-term debt

12.5 m20 m

Current Liabilities

53.8 m54.9 m71.8 m54.8 m

Long-term debt

7.3 m20 m20 m

Total Debt

19.8 m20 m20 m20 m

Total Liabilities

86.1 m106.7 m107.8 m112.7 m

Common Stock

46 k49 k52 k55 k

Retained Earnings

(150.9 m)(197.1 m)(227.3 m)(250.4 m)

Total Equity

34.2 m34.2 m28.7 m21.9 m

Debt to Equity Ratio

0.6 x0.6 x0.7 x0.9 x

Debt to Assets Ratio

0.1 x0.1 x0.1 x0.1 x

Financial Leverage

4.2 x4.1 x4.8 x6.1 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

92.7 m85.4 m88.2 m41.4 m39.3 m43.9 m28.9 m34.6 m33.9 m21.5 m

Accounts Receivable

17.6 m20.8 m16.3 m20.9 m29.5 m22.5 m21.6 m22.9 m17.2 m

Prepaid Expenses

2.1 m3.9 m4.3 m11.6 m12.4 m7.2 m6.9 m7.1 m7.9 m

Inventories

11.4 m11.9 m11.8 m11.5 m14.7 m15.7 m11.7 m15 m13.2 m13.6 m

Current Assets

124.7 m122.8 m121.4 m130.5 m136 m124.8 m115.1 m125.3 m121.3 m117.1 m

PP&E

10.4 m10.1 m9.9 m8.5 m9.9 m9.6 m8.2 m7.6 m7 m7 m

Goodwill

513 k513 k513 k513 k513 k513 k513 k513 k513 k513 k

Total Assets

135.8 m133.7 m132.1 m145.1 m151.8 m140.2 m128.9 m138.8 m134.1 m129.6 m

Accounts Payable

12.7 m12 m10 m14.5 m17.1 m13.5 m9.7 m14.7 m909 k12 m

Short-term debt

20 m20 m20 m

Current Liabilities

43.9 m45 m48.8 m79.7 m83.8 m75.5 m51 m56.6 m55.4 m73.7 m

Long-term debt

20 m20 m20 m20 m20 m20 m

Total Debt

20 m20 m20 m20 m20 m20 m20 m20 m20 m

Total Liabilities

89.8 m92.7 m97.9 m112.7 m119.1 m111.4 m105.8 m113.4 m113 m109.4 m

Common Stock

46 k48 k48 k52 k51 k52 k53 k54 k55 k

Retained Earnings

(166.9 m)(178.4 m)(189.7 m)(202.9 m)(210.3 m)(220 m)(236.5 m)(240.4 m)(247 m)(254.7 m)

Total Equity

46 m41 m34.2 m32.4 m32.7 m28.7 m23.1 m25.4 m21.2 m20.2 m

Financial Leverage

3 x3.3 x3.9 x4.5 x4.6 x4.9 x5.6 x5.5 x6.3 x6.4 x

Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(30.6 m)(46.2 m)(36.9 m)(22.9 m)

Depreciation and Amortization

2.3 m3.5 m3.5 m3.1 m

Accounts Receivable

(7.1 m)1.9 m(3.4 m)8.5 m

Inventories

(1.5 m)(2.4 m)(1.9 m)(866 k)

Accounts Payable

1.3 m5.2 m(4.5 m)1.3 m

Cash From Operating Activities

63 m(52.3 m)(14.6 m)9.3 m

Purchases of PP&E

(2.4 m)(2.3 m)(2.2 m)(595 k)

Cash From Investing Activities

(6.7 m)(50.9 m)276 k(15.7 m)

Long-term Borrowings

63 m10 m(53 k)(182 k)

Cash From Financing Activities

78.5 m3.6 m2.9 m(689 k)

Net Change in Cash

63 m(52.3 m)(11.4 m)(7.1 m)

Interest Paid

1.4 m984 k484 k576 k

Income Taxes Paid

420 k519 k666 k360 k

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

(16.1 m)(27.5 m)(38.8 m)(12.5 m)(19.9 m)(29.6 m)(9 m)(12.9 m)(19.5 m)(7.3 m)

Depreciation and Amortization

619 k1.6 m2.6 m896 k1.8 m2.7 m842 k1.6 m2.4 m708 k

Accounts Receivable

7.1 m3.9 m8.3 m1.9 m(6.7 m)352 k4.6 m3.3 m9 m(1.8 m)

Inventories

(3 m)(3.6 m)(3.4 m)(714 k)(3.9 m)(4.9 m)961 k(2.4 m)(577 k)(63 k)

Accounts Payable

2.5 m1.8 m(17 k)(684 k)1.1 m(2 m)(885 k)4.1 m(911 k)(56 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)2.4 m7.8 m(4.8 m)

Purchases of PP&E

(452 k)(936 k)(2 m)(337 k)(735 k)(1.7 m)(223 k)(466 k)(510 k)(1.2 m)

Cash From Investing Activities

(2.2 m)(2.8 m)(3.9 m)(43 k)4.6 m7.9 m(3.7 m)(3.6 m)(7.1 m)178 k

Long-term Borrowings

(10 m)(10 m)(10 m)(43 k)(83 k)(126 k)

Cash From Financing Activities

(203 k)1.8 m1.1 m(988 k)1.3 m625 k(151 k)1.5 m(1.1 m)(1.1 m)

Net Change in Cash

(5.4 m)(12.7 m)(9.9 m)(4.4 m)(6.4 m)(1.8 m)(5.4 m)273 k(397 k)

Interest Paid

608 k704 k845 k139 k249 k364 k126 k267 k424 k168 k

Income Taxes Paid

243 k356 k394 k249 k391 k535 k99 k175 k295 k36 k

Ratios

USDY, 2018

Financial Leverage

6.4 x
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Operating Metrics

Aerohive Networks's Customers was reported to be 30 k in FY, 2016. Aerohive Networks's Patent Applications was reported to be 45 in FY, 2017.
FY, 2014FY, 2015FY, 2016FY, 2017

Countries

40

Customers

19 k24 k30 k

Patent Applications

36 42 48 45

Patents Issued

13 22 29 54
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