Carbonite

Carbonite, Inc. (Carbonite) provides cloud and hybrid backup solutions. The Company's solutions are designed to address the specific needs of small and medium sized businesses (SMBs) and individuals. The Company's suite of solutions includes Carbonite Personal, which include unlimited cloud backup for one computer at three different service levels for individuals; Carbonite Pro, the Company's small business workstation solutions automatically back up files to the cloud and include an unlimited number of devices for an annual flat fee based on the amount of storage needed, and Carbonite Server Backup, the Company's hybrid server backup solution that protects an unlimited number of servers, databases and live applications, and offers management capabilities. As of December 31, 2014, the Company had subscribers in over 100 countries with subscribers based in the United States representing approximately 94% of its total revenue.
Company Growth (employees)
Type
Public
HQ
Boston, US
Founded
2005
Size (employees)
611 (est)
Carbonite was founded in 2005 and is headquartered in Boston, US

Key People at Carbonite

David Friend

David Friend

Chairman & CEO
Andrew Barr

Andrew Barr

Team Member
Anthony Folger

Anthony Folger

CFO & Treasurer
Jeff Flowers

Jeff Flowers

Co - Founder & Board Member

Carbonite Office Locations

Carbonite has offices in Boston, Lewiston and Ismaning
Boston, US (HQ)
2 Ave De Lafayette
Ismaning, DE
1 Gutenbergstraße
Lewiston, US
24 Mollison Way

Carbonite Data and Metrics

Carbonite Financial Metrics

Carbonite's revenue was reported to be $57.1 m in Q1, 2017
USD

Revenue (Q1, 2017)

57.1 m

Gross profit (Q1, 2017)

39.7 m

Gross profit margin (Q1, 2017), %

70%

Net income (Q1, 2017)

7.6 m

EBIT (Q1, 2017)

(6.9 m)

Market capitalization (25-Jul-2017)

668.4 m

Cash (31-Mar-2017)

41.8 m
Carbonite's current market capitalization is $668.4 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

107.2 m122.6 m136.6 m207 m

Revenue growth, %

14%11%52%

Cost of goods sold

34.9 m38.6 m38.8 m60.9 m

Gross profit

72.3 m84.1 m97.8 m146 m

Gross profit Margin, %

67%69%72%71%

Sales and marketing expense

73.3 m

R&D expense

33.3 m

General and administrative expense

41.3 m

Operating expense total

82.9 m92.6 m119.5 m148.8 m

EBIT

(10.6 m)(8.6 m)(21.7 m)(2.8 m)

EBIT margin, %

(10%)(7%)(16%)(1%)

Interest income

2 k(398 k)145 k68 k

Pre tax profit

(10.6 m)(9 m)(21.5 m)(2.7 m)

Income tax expense

(55 k)(367 k)102 k1.4 m

Net Income

(10.6 m)(9.4 m)(21.6 m)(4.1 m)
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

30.3 m31.3 m33 m34 m34.6 m48.1 m53.4 m51.9 m57.1 m

Cost of goods sold

9.7 m9.6 m10 m9.8 m9.8 m14.8 m15.9 m15.5 m17.4 m

Gross profit

20.6 m21.7 m23 m24.2 m24.8 m33.4 m37.6 m36.5 m39.7 m

Gross profit Margin, %

68%69%70%71%72%69%70%70%70%

Sales and marketing expense

13.1 m12.1 m14.4 m13.6 m12.9 m16.9 m17.3 m18.9 m23.4 m

R&D expense

6.2 m6.1 m6.9 m7.4 m7.1 m8.7 m8.4 m8.2 m10.3 m

General and administrative expense

3.8 m4 m7.6 m7.6 m10.3 m11.4 m10.4 m9.1 m12.9 m

Operating expense total

23.1 m22.2 m28.9 m28.6 m30.3 m37 m36.1 m36.1 m46.6 m

EBIT

(2.5 m)(481 k)(6 m)(4.5 m)(5.7 m)(4.5 m)1.4 m381 k(6.9 m)

EBIT margin, %

(8%)(2%)(18%)(13%)(16%)(9%)3%1%(12%)

Interest income

21 k(208 k)59 k139 k(150 k)3 k155 k78 k

Pre tax profit

(2.5 m)(689 k)(6 m)(4.4 m)(5.6 m)(4.6 m)1.5 m536 k(6.8 m)

Income tax expense

(10 k)(10 k)204 k403 k404 k95 k290 k429 k(14.4 m)

Net Income

(2.5 m)(699 k)(6.2 m)(4.8 m)(6 m)(4.7 m)1.2 m107 k7.6 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

50.4 m46.1 m63.9 m59.2 m

Inventories

3.1 m5.2 m3.2 m7.3 m

Current Assets

70.4 m69.6 m72 m83.3 m

PP&E

22.1 m25.9 m22.1 m23.9 m

Goodwill

11.5 m23.7 m23.1 m23.7 m

Total Assets

109.2 m131.8 m126 m144.8 m

Accounts Payable

3.8 m7.3 m8.4 m5.8 m

Current Liabilities

81.5 m93.3 m100.2 m111.9 m

Total Liabilities

138.9 m

Additional Paid-in Capital

142.6 m152.9 m165.4 m177.9 m

Retained Earnings

(130 m)(139.3 m)(160.9 m)(165 m)

Total Equity

12.8 m14.5 m5.8 m5.8 m

Financial Leverage

8.5 x9.1 x21.6 x24.8 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

57.4 m56.5 m59 m60.9 m61.6 m41 m43.2 m49.1 m41.8 m

Current Assets

78.2 m79.2 m74.8 m72.8 m70 m65.4 m68 m73.2 m71.3 m

PP&E

20.6 m25.5 m24.6 m25.1 m23.9 m26.4 m24.9 m22.6 m27.8 m

Goodwill

11.5 m11.5 m22.4 m22.8 m23.4 m23.6 m24.3 m24.5 m73.6 m

Total Assets

115 m120.6 m132.7 m131.1 m128 m132.7 m133.4 m135.4 m222.1 m

Accounts Payable

3.9 m2.7 m6.5 m8 m7.2 m5.1 m3.6 m2.9 m9.5 m

Current Liabilities

85.9 m86.1 m95.5 m98.6 m98.5 m111.4 m108 m107.8 m144.6 m

Common Stock

268 k269 k

Additional Paid-in Capital

146.8 m148.7 m156.6 m159.4 m162.2 m168 m170.3 m174.1 m189.2 m

Retained Earnings

(133.5 m)(134.2 m)(145.6 m)(150.4 m)(156.3 m)(165.6 m)(164.5 m)(164.4 m)(157.7 m)

Total Equity

13.6 m15 m7.9 m4.5 m(4.8 m)1.4 m8.7 m

Financial Leverage

8.5 x8.1 x16.6 x28.2 x-27.7 x94.4 x25.5 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(10.6 m)(9.4 m)(21.6 m)(4.1 m)

Depreciation and Amortization

12.6 m12.5 m13.6 m15.9 m

Accounts Receivable

(303 k)17 k(1.4 m)(13.4 m)

Inventories

(586 k)(830 k)1 m(1.5 m)

Accounts Payable

(1.4 m)2 m2.9 m(3.3 m)

Cash From Operating Activities

14.6 m22.7 m13.2 m13.2 m

Purchases of PP&E

(9.8 m)(14.5 m)(9.7 m)(6.6 m)

Cash From Investing Activities

(9.3 m)(31.1 m)8.3 m(16.3 m)

Cash From Financing Activities

4.7 m4.2 m(3.4 m)(1.4 m)

Income Taxes Paid

1.2 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

(2.5 m)(699 k)(6.2 m)(4.8 m)(6 m)(4.7 m)1.2 m107 k7.6 m

Accounts Payable

3.9 m2.7 m6.5 m8 m7.2 m5.1 m3.6 m2.9 m9.5 m
USDY, 2017

Revenue/Employee

93.5 k

Financial Leverage

25.5 x

Carbonite Operating Metrics

Q1, 2014Q2, 2014Q3, 2014Q4, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016FY, 2016Q1, 2017

Bookings

$32.5 m$30.6 m$30.6 m$34.5 m$128.2 m$36.9 m$35.7 m$34.2 m$37.4 m$144.1 m$52.3 m$53.7 m$49.2 m$54 m$209.3 m$62.1 m

Patents Issued

82733

Patents Pending

182024

Countries

303040

Carbonite Market Value History

Carbonite Median Salaries

Source: 66 public H-1B filings from Carbonite

Carbonite Online and Social Media Presence

Carbonite News and Updates

Carbonite Company Life and Culture

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