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

1.3 b1.8 b1.2 b1.2 b

Revenue growth, %

43%(33%)(4%)

Sales and marketing expense

773.7 m

Operating expense total

773.7 m

EBIT

(136.9 m)32.9 m

EBIT margin, %

(11%)3%

Interest expense

3.4 m4.6 m10.7 m

Pre tax profit

341.1 m243.2 m237.4 m209 m

Income tax expense

(23.6 m)(55.8 m)(28.3 m)

Net Income

483.6 m233.4 m181.6 m180.6 m

Quarterly

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

Revenue

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

Sales and marketing expense

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

Operating expense total

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

Interest expense

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

Pre tax profit

116 m11.9 m75.7 m16.4 m105.3 m(220 k)(22.4 m)(15.2 m)(22.5 m)65.4 m(8.6 m)45.5 m237.1 m

Income tax expense

(14.8 m)(5.8 m)(6.7 m)(6.1 m)(18.4 m)5.2 m(3.6 m)(783 k)(4.1 m)(7 m)1.7 m(13.7 m)

Net Income

101.2 m6.2 m69 m10.2 m86.9 m5 m(26 m)(16 m)(26.6 m)58.3 m(6.8 m)31.8 m190.3 m

Fortress Investment Group Balance Sheet

Annual

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

Cash

364.6 m741.5 m339.8 m397.1 m

Goodwill

370.4 m

Total Assets

2.7 b5.9 b2.3 b2.2 b

Accounts Payable

870 k

Total Liabilities

1.3 b

Additional Paid-in Capital

2.1 b2 b2 b1.9 b

Retained Earnings

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

Total Equity

1.6 b3.1 b941.8 m887.7 m

Financial Leverage

1.7 x1.9 x2.4 x2.5 x

Quarterly

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

Cash

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

Total Assets

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

Total Liabilities

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

Common Stock

Additional Paid-in Capital

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

Retained Earnings

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

Total Equity

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

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

483.6 m233.4 m181.6 m180.6 m

Depreciation and Amortization

19.8 m39.2 m22.7 m

Cash From Operating Activities

432.9 m239.9 m243.1 m255.1 m

Purchases of PP&E

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

Cash From Investing Activities

211.7 m527.3 m238.6 m194 m

Dividends Paid

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

Cash From Financing Activities

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

Interest Paid

3.6 m1.8 m2.1 m9.5 m

Income Taxes Paid

6.5 m5 m11.6 m19.9 m

Quarterly

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

Net Income

166.1 m6.2 m75.1 m85.3 m86.9 m91.9 m65.9 m(16 m)(42.5 m)15.8 m(6.8 m)25 m190.3 m

Depreciation and Amortization

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

Cash From Operating Activities

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

Purchases of PP&E

(7.8 m)(1.8 m)(4.2 m)(7.6 m)(4.4 m)(11.1 m)(19.8 m)(4.9 m)(10.6 m)(13.8 m)(3.7 m)(8 m)

Cash From Investing Activities

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

Dividends Paid

(43.2 m)(15.4 m)(32.6 m)(88.6 m)(104.6 m)(122.7 m)(18 m)(62.9 m)(83.1 m)(20.5 m)(41.2 m)

Cash From Financing Activities

(340.3 m)(282.3 m)(365.1 m)(292 m)(204.7 m)(278.7 m)(354.3 m)(73.7 m)(197.9 m)(312.6 m)(59.1 m)(122.2 m)

Interest Paid

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

Income Taxes Paid

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