iPass Financials

$54.4 M

Revenue FY, 2017

$23.8 M

Mkt cap, 23-Apr-2018
Net income (FY, 2017)(20.6 M)
EBIT (FY, 2017)(20.1 M)
Cash, 31-Dec-20175.2 M

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

111.1 m69.8 m62.6 m63.2 m54.4 m

Revenue growth, %

(37%)(10%)1%

Sales and marketing expense

11.2 m10.2 m

R&D expense

7.3 m8 m

General and administrative expense

10.8 m11.5 m

Operating expense total

29.2 m29.7 m

EBIT

(11.2 m)(19.4 m)(14.9 m)(7.3 m)(20.1 m)

EBIT margin, %

(10%)(28%)(24%)(12%)(37%)

Interest expense

36 k67 k

Interest income

36 k67 k

Pre tax profit

(11.7 m)(19.3 m)(15.2 m)(7.5 m)

Income tax expense

569 k(223 k)(194 k)

Net Income

(12.3 m)7 m(15.5 m)(7.8 m)(20.6 m)

Quarterly

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

Revenue

26.9 m25.3 m17.3 m16.6 m15.6 m15 m14.7 m16.5 m15.9 m14.3 m13.5 m

Sales and marketing expense

4.4 m5 m3.5 m3.2 m2.4 m2.5 m2.8 m2.9 m2.7 m2.5 m2.6 m

R&D expense

3.2 m3.4 m2.9 m3 m2.5 m2.5 m2.1 m1.8 m1.6 m2 m2.1 m

General and administrative expense

4.9 m5 m4.3 m4.2 m4 m3.1 m3 m2.8 m2.6 m2.8 m2.5 m

Operating expense total

12.4 m13.4 m10.7 m10.4 m8.8 m8 m8 m7.4 m6.8 m7.2 m7.3 m

EBIT

(2.3 m)(5.3 m)(4.8 m)(3.5 m)(6 m)(3.3 m)(3.5 m)(1.2 m)(1.2 m)(4.2 m)(4.9 m)

EBIT margin, %

(9%)(21%)(28%)(21%)(39%)(22%)(24%)(7%)(8%)(29%)(37%)

Interest expense

33 k29 k21 k17 k12 k5 k6 k12 k14 k14 k

Interest income

2 k33 k29 k6 k12 k14 k14 k

Pre tax profit

(2.5 m)(5.4 m)(4.5 m)(3.3 m)(6.3 m)(3.4 m)(3.6 m)(1.3 m)(1.3 m)(4.2 m)(5.1 m)

Income tax expense

341 k122 k91 k62 k61 k115 k217 k

Net Income

(2.8 m)(5.5 m)(1.3 m)(4.3 m)(5.3 m)

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

24 m33.8 m20.3 m16.1 m5.2 m

Current Assets

43.6 m48.2 m33.1 m30 m16.2 m

PP&E

8.4 m6.2 m4 m2.5 m1.3 m

Total Assets

54.9 m55.3 m37.8 m33.2 m18.4 m

Accounts Payable

9.3 m7.3 m6.3 m7.1 m9 m

Current Liabilities

21.6 m14.9 m14 m13.4 m16.5 m

Total Liabilities

14.5 m17.6 m

Additional Paid-in Capital

218.1 m220.4 m220 m223.8 m226.5 m

Retained Earnings

(188.9 m)(182 m)(197.4 m)(205.2 m)(225.8 m)

Total Equity

29.2 m38.5 m22.6 m18.6 m791 k

Financial Leverage

1.9 x1.4 x1.7 x1.8 x23.3 x

Quarterly

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

Cash

25.2 m20.1 m37.1 m28.6 m26.9 m24.2 m17.2 m16.1 m17.2 m13.5 m10.4 m

Accounts Receivable

10.2 m10.1 m

Current Assets

46.7 m38.2 m52.5 m44 m40 m36.9 m30 m29.4 m29.7 m26.2 m21.6 m

PP&E

6.4 m8.2 m6.8 m5.8 m5.2 m4.6 m3.4 m2.8 m2.3 m2.2 m1.9 m

Total Assets

56.2 m49.2 m60.3 m50.5 m45.9 m42.1 m34.1 m32.9 m32.7 m29.1 m24.3 m

Accounts Payable

9.1 m8.5 m8 m6.3 m6.2 m7 m7 m6.8 m5.9 m6.6 m6.9 m

Current Liabilities

20.9 m21.3 m16.8 m13.9 m16.1 m16 m13.9 m13 m12.2 m13.3 m13.1 m

Total Liabilities

23.4 m24.9 m18.8 m15.8 m17.8 m17.3 m15.2 m14.2 m13.4 m14.4 m14.3 m

Common Stock

64 k65 k65 k65 k65 k65 k65 k65 k68 k68 k68 k

Additional Paid-in Capital

217.2 m218.7 m219.4 m220 m219.8 m220 m220 m221.2 m223.1 m224.1 m224.7 m

Retained Earnings

(184.4 m)(194.5 m)(178 m)(185.4 m)(191.8 m)(195.2 m)(201.2 m)(202.6 m)(203.9 m)(209.5 m)(214.8 m)

Total Equity

32.8 m28.1 m24.8 m18.9 m18.7 m19.3 m14.7 m10 m

Financial Leverage

1.7 x1.6 x1.7 x1.8 x1.8 x1.7 x2 x2.4 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(12.3 m)7 m(15.5 m)(7.8 m)(20.6 m)

Depreciation and Amortization

2.8 m3.3 m2.9 m2.5 m1.6 m

Accounts Receivable

1.8 m2.8 m234 k(2.6 m)3.4 m

Inventories

625 k(404 k)(529 k)1.5 m

Accounts Payable

2.1 m(1.6 m)(946 k)414 k2.3 m

Cash From Operating Activities

(2.4 m)(14.8 m)(13.6 m)(5.5 m)(11.5 m)

Purchases of PP&E

(2.3 m)(1.3 m)(812 k)(581 k)(813 k)

Cash From Investing Activities

(1.6 m)25.5 m738 k(581 k)(813 k)

Cash From Financing Activities

1.2 m(899 k)(641 k)1.8 m1.4 m

Quarterly

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

Net Income

(2.8 m)(5.5 m)(1.3 m)(4.3 m)

Accounts Receivable

10.2 m10.1 m

Accounts Payable

8 m6.3 m6.2 m7 m7 m6.8 m5.9 m6.6 m

Ratios

USDY, 2017

Revenue/Employee

307.4 k

Financial Leverage

23.3 x
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Operating Metrics

FY, 2016

Countries

120

Hotspots

60 m
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