Summary - Funding Rounds

Founding Date

1998
Fortress Investment Group is a subsidiary of SoftBank

Fortress Investment Group Income Statement

Annual

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

Revenue

1.3b1.8b1.2b1.2b

Revenue growth, %

43%(33%)(4%)

Sales and marketing expense

741.8m743.9m773.7m

Operating expense total

897.6m1.1b950.6m

Depreciation and amortization

13.7m39.2m22.7m

EBIT

(136.9m)32.9m

EBIT margin, %

(11%)3%

Interest expense

5.4m3.4m4.6m10.7m

Pre tax profit

549.4m243.2m237.4m209.0m

Income tax expense

(65.8m)(55.8m)(28.3m)

Net Income

483.6m233.4m181.6m180.6m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

232.0m310.2m427.3m403.8m226.7m308.5m264.0m231.6m232.7m261.1m232.2m247.0m254.4m

Sales and marketing expense

146.5m188.5m168.1m187.2m178.9m199.1m169.0m164.2m191.3m184.2m182.0m163.4m200.6m

Operating expense total

184.1m307.4m379.0m397.9m329.0m258.1m223.9m206.6m238.9m225.1m241.4m209.6m248.1m

Depreciation and amortization

12.8m16.1m6.3m4.5m4.1m

Interest expense

778.0k691.0k947.0k916.0k839.0k1.0m918.0k3.0m3.0m2.6m2.0m2.2m2.2m

Pre tax profit

116.0m11.9m75.7m16.4m105.3m(220.0k)(22.4m)(15.2m)(22.5m)65.4m(8.6m)45.5m237.1m

Income tax expense

(14.8m)(5.8m)(6.7m)(6.1m)(18.4m)5.2m(3.6m)(783.0k)(4.1m)(7.0m)1.7m(13.7m)(46.8m)

Net Income

101.2m6.2m69.0m10.2m86.9m5.0m(26.0m)(16.0m)(26.6m)58.3m(6.8m)31.8m190.3m

Fortress Investment Group Balance Sheet

Annual

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

Cash

364.6m741.5m339.8m397.1m

Goodwill

370.4m

Total Assets

2.7b5.9b2.3b2.2b

Accounts Payable

870.0k

Total Debt

Total Liabilities

1.1b1.3b1.3b

Additional Paid-in Capital

2.1b2.0b2.0b1.9b

Retained Earnings

(1.3b)(1.4b)(1.4b)(1.3b)

Total Equity

1.6b3.1b941.8m887.7m

Financial Leverage

1.7 x1.9 x2.4 x2.5 x

Quarterly

USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

233.9m337.1m225.6m278.9m350.7m334.7m341.7m665.6m

Total Assets

2.2b2.3b2.0b2.0b2.1b2.0b2.0b2.3b

Total Liabilities

1.0b1.2b1.2b1.3b1.3b1.1b1.2b1.3b

Common Stock

Additional Paid-in Capital

1.9b1.9b2.0b1.9b1.9b1.9b1.9b1.9b

Retained Earnings

(1.3b)(1.3b)(1.4b)(1.5b)(1.4b)(1.3b)(1.3b)(1.2b)

Total Equity

1.2b1.1b853.9m726.4m758.1m846.5m832.6m993.2m

Financial Leverage

1.9 x2.1 x2.4 x2.7 x2.7 x2.3 x2.5 x2.3 x

Fortress Investment Group Cash Flow

Annual

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

Net Income

483.6m233.4m181.6m180.6m

Depreciation and Amortization

13.7m19.8m39.2m22.7m

Cash From Operating Activities

432.9m239.9m243.1m255.1m

Purchases of PP&E

(11.5m)(12.4m)(31.6m)(17.4m)

Cash From Investing Activities

211.7m527.3m238.6m194.0m

Dividends Paid

(57.9m)(105.9m)(140.8m)(103.4m)

Cash From Financing Activities

(384.3m)(390.3m)(532.9m)(391.9m)

Interest Paid

3.6m1.8m2.1m9.5m

Income Taxes Paid

6.5m5.0m11.6m19.9m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

166.1m6.2m75.1m85.3m86.9m91.9m65.9m(16.0m)(42.5m)15.8m(6.8m)25.0m215.3m

Depreciation and Amortization

10.1m4.3m9.3m14.3m5.3m18.1m34.2m6.3m12.1m17.4m4.5m8.9m13.0m

Cash From Operating Activities

332.5m(98.5m)(81.1m)79.7m(153.6m)(72.5m)95.9m(135.9m)18.1m171.7m(103.9m)(53.4m)159.7m

Purchases of PP&E

(7.8m)(1.8m)(4.2m)(7.6m)(4.4m)(11.1m)(19.8m)(4.9m)(10.6m)(13.8m)(3.7m)(8.0m)(11.5m)

Cash From Investing Activities

214.7m222.9m367.5m331.6m112.4m194.1m204.4m95.4m118.9m151.8m100.6m120.3m321.1m

Dividends Paid

(43.2m)(15.4m)(32.6m)(88.6m)(104.6m)(122.7m)(18.0m)(62.9m)(83.1m)(20.5m)(41.2m)(41.2m)

Cash From Financing Activities

(340.3m)(282.3m)(365.1m)(292.0m)(204.7m)(278.7m)(354.3m)(73.7m)(197.9m)(312.6m)(59.1m)(122.2m)(212.4m)

Interest Paid

3.6m788.0k1.3m500.0k1.0m1.6m3.1m5.2m7.8m2.1m3.5m5.6m

Income Taxes Paid

3.0m1.6m3.4m4.2m6.1m7.7m10.4m8.3m9.6m10.2m994.0k14.7m16.5m
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