Summary - Funding Rounds

Founding Date

1995

Total Funding

$300 m

Investors

In total, Brocade had raised $300 m. Brocade is a subsidiary of Broadcom

Brocade Revenue Breakdown

Embed Graph

Brocade revenue breakdown by business segment: 16.5% from Global Services, 31.1% from IP Networking Products and 52.4% from SAN Products

Brocade Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

2.2b2.3b2.3b

Revenue growth, %

2%4%

Cost of goods sold

592.4m587.5m829.3m

Gross profit

1.6b1.7b1.5b

Gross profit Margin, %

73%74%65%

EBIT

492.7m307.1m

EBIT margin, %

22%13%

Interest expense

36.8m55.6m49.3m

Interest income

1.9m5.3m

Pre tax profit

439.1m262.0m

Income tax expense

115.7m98.7m48.1m

Net Income

340.4m213.9m

Quarterly

USDQ1, 2014Q3, 2014Q2, 2014Q3, 2015Q1, 2015Q2, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

564.5m545.5m536.9m551.8m576.2m546.6m574.3m523.3m590.7m581.0m553.0m549.0m

Cost of goods sold

191.9m183.8m182.6m179.9m186.6m174.4m185.5m173.0m233.8m214.0m210.0m198.0m

Gross profit

372.7m361.7m354.3m371.9m389.7m372.2m388.8m350.3m356.9m367.0m343.0m351.0m

Gross profit Margin, %

66%66%66%67%68%68%68%67%60%63%62%64%

Sales and marketing expense

132.7m137.3m139.6m144.9m140.2m143.1m151.8m148.9m168.0m180.0m172.0m154.0m

R&D expense

87.2m84.2m90.6m85.1m85.2m91.9m93.3m89.3m115.0m124.0m120.0m117.0m

General and administrative expense

20.1m22.1m21.1m20.4m24.7m20.7m22.4m22.8m33.0m33.5m31.0m27.6m

Operating expense total

251.2m243.8m334.1m252.1m250.3m258.0m267.8m267.6m336.3m363.0m349.0m371.0m

EBIT

121.5m117.9m20.2m119.8m139.4m114.2m121.0m82.7m20.6m4.3m(5.9m)(19.9m)

EBIT margin, %

22%22%4%22%24%21%21%16%3%1%(1%)(4%)

Interest expense

9.2m9.2m9.2m9.8m25.4m10.6m9.9m10.0m13.5m15.5m15.9m15.9m

Interest income

1.3m5.3m20.0k947.0k466.0k669.0k1.1m1.6m458.0k2.1m2.6m

Pre tax profit

111.0m114.0m10.9m111.0m113.4m104.1m111.8m73.8m8.7m(10.7m)(19.8m)(33.2m)

Income tax expense

30.1m26.7m24.6m19.4m26.2m27.1m18.1m30.7m(1.8m)(4.9m)(8.8m)(13.6m)

Net Income

80.9m87.4m(13.7m)91.7m87.3m77.0m93.6m43.1m10.5m(5.8m)(11.0m)(19.6m)

Brocade Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

987.0m1.3b1.4b1.3b

Inventories

45.3m38.7m40.5m69.4m

Current Assets

1.4b1.7b1.9b1.7b

PP&E

472.9m445.4m439.2m455.3m

Goodwill

1.6b1.6b1.6b2.3b

Total Assets

3.6b3.7b4.0b4.9b

Accounts Payable

88.2m93.7m98.1m128.7m

Short-term debt

3.0m76.7m

Current Liabilities

560.7m587.3m562.4m694.7m

Long-term debt

596.2m595.5m795.8m1.5b

Total Debt

599.2m1.6b

Total Liabilities

2.4b

Additional Paid-in Capital

1.9b1.8b1.6b1.5b

Retained Earnings

444.7m652.2m925.1m1.1b

Total Equity

2.5b2.5b

Debt to Equity Ratio

0.6 x

Debt to Assets Ratio

0.2 x0.3 x

Financial Leverage

1.6 x1.9 x

Quarterly

USDQ1, 2014Q3, 2014Q2, 2014Q3, 2015Q1, 2015Q2, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

998.7m1.1b1.1b1.3b1.4b1.4b1.4b1.4b1.2b1.2b1.3b1.2b

Inventories

43.2m40.6m40.8m40.5m40.3m41.4m42.6m39.5m81.2m79.5m78.5m70.5m

Current Assets

1.4b1.5b1.5b1.7b2.1b1.8b1.7b1.7b1.6b1.6b1.7b1.7b

PP&E

459.4m448.2m452.7m440.3m442.6m439.8m442.2m441.7m459.8m447.2m434.8m416.2m

Goodwill

1.6b1.6b1.6b1.6b1.6b1.6b1.6b1.6b2.3b2.3b2.3b2.3b

Total Assets

3.6b3.6b3.6b3.9b4.2b3.9b3.9b4.0b4.9b4.9b4.9b4.8b

Accounts Payable

78.6m84.2m80.0m95.8m88.2m91.9m74.0m97.5m121.1m85.0m112.0m97.1m

Short-term debt

3.0m1.8m2.3m300.8m76.6m76.7m76.8m76.7m

Current Liabilities

490.7m504.4m522.2m492.1m806.0m544.1m484.8m530.3m701.2m629.5m688.6m595.1m

Long-term debt

595.7m595.4m595.5m791.6m783.6m787.6m798.1m802.5m1.5b1.5b1.5b1.5b

Total Debt

598.7m597.2m597.7m791.6m1.1b787.6m798.1m802.5m1.6b1.6b1.5b1.5b

Total Liabilities

1.2b1.3b1.3b1.4b1.7b1.5b1.4b1.5b2.4b2.3b2.3b2.2b

Additional Paid-in Capital

1.8b1.8b1.8b1.6b1.7b1.7b1.5b1.5b1.5b1.6b1.6b1.6b

Retained Earnings

525.5m583.9m511.9m859.4m724.4m786.7m1.0b1.0b1.0b1.0b993.8m951.6m

Total Equity

2.5b2.5b2.5b2.5b2.6b2.6b2.5b

Financial Leverage

1.6 x1.6 x1.6 x2 x1.9 x1.9 x1.9 x

Brocade Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

208.6m238.0m340.4m213.9m

Depreciation and Amortization

184.1m100.6m2.6m15.7m

Accounts Receivable

(26.0m)17.1m(16.0m)(9.4m)

Inventories

24.2m6.6m(1.8m)3.6m

Accounts Payable

(28.9m)2.3m107.0k15.8m

Cash From Operating Activities

451.0m541.6m447.5m409.9m

Purchases of PP&E

(52.4m)(54.7m)(68.7m)(77.0m)

Cash From Investing Activities

(27.0m)(50.8m)(172.4m)(493.8m)

Cash From Financing Activities

(149.4m)(219.7m)(83.7m)(97.8m)

Interest Paid

39.8m34.7m29.6m28.3m

Income Taxes Paid

14.5m22.2m41.4m49.9m

Quarterly

USDQ1, 2014Q3, 2014Q2, 2014Q3, 2015Q1, 2015Q2, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

80.9m87.4m(13.7m)91.7m87.3m77.0m93.6m43.1m10.5m(5.8b)(11.0b)

Depreciation and Amortization

131.0k889.0k138.0k627.0k902.0k902.0k5.5m7.6b7.6b

Inventories

40.5m42.6m39.5m81.2m79.5m78.5m

Accounts Payable

95.8m74.0m97.5m121.1m85.0m112.0m
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Brocade Operating Metrics

FY, 2014FY, 2015FY, 2016

Patents (US)

22 620 774

Patents (foreign)

330 28 110

Patents Pending

550 362 420
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