Summary - Funding Rounds

Founding Date

1989
magicJack VocalTec is a subsidiary of B. Riley Financial

magicJack VocalTec Financials

magicJack VocalTec Income Statement

Annual

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

Revenue

143.5 m116.3 m101 m97.4 m

Revenue growth, %

(19%)(13%)(4%)

Cost of goods sold

49.1 m42.5 m34.1 m36.7 m

Gross profit

94.4 m73.8 m66.8 m60.7 m

Gross profit Margin, %

66%63%66%62%

Sales and marketing expense

14.3 m20.4 m9.4 m9.1 m

R&D expense

5.7 m5.9 m4.5 m5.2 m

General and administrative expense

27 m33.9 m27.5 m34.3 m

Operating expense total

47 m60.2 m41.5 m48.6 m

EBIT

47.4 m13.6 m25.3 m13.8 m

EBIT margin, %

33%12%25%14%

Interest expense

307 k192 k57 k

Pre tax profit

47.1 m13.5 m25.3 m13.8 m

Income tax expense

(23.2 m)9.7 m11.8 m8.7 m

Net Income

70.3 m3.8 m13.5 m5.1 m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2018

Revenue

29.5 m25.8 m25.5 m25.4 m25.4 m20 m

Cost of goods sold

11.4 m9.5 m9.5 m8.7 m8.2 m7.2 m

Gross profit

18.1 m16.3 m16 m16.7 m17.2 m12.9 m

Gross profit Margin, %

61%63%63%66%68%64%

Sales and marketing expense

4.7 m6.2 m2.8 m1.8 m2.4 m1.2 m

R&D expense

1.4 m1.5 m1.2 m1.2 m1.1 m1.5 m

General and administrative expense

8.7 m9.4 m7.7 m7.3 m6.3 m7.5 m

Operating expense total

14.7 m17.1 m11.6 m10.3 m9.7 m10.3 m

EBIT

3.4 m(804 k)4.4 m6.4 m7.5 m2.6 m

EBIT margin, %

11%(3%)17%25%29%13%

Interest expense

55 k34 k34 k23 k

Pre tax profit

3.4 m(824 k)4.4 m6.4 m7.5 m2.7 m

Income tax expense

1.1 m(823 k)3.1 m(546 k)4.2 m695 k

Net Income

2.3 m(1 k)1.3 m7 m3.3 m2 m

magicJack VocalTec Balance Sheet

Annual

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

Cash

46 m75.9 m78.6 m52.4 m

Accounts Receivable

727 k1.4 m

Inventories

4.1 m2.4 m4.4 m

Current Assets

91.6 m115.6 m95.1 m67.3 m

PP&E

2 m3.6 m3.3 m3.8 m

Goodwill

32.3 m32.3 m32.3 m47.2 m

Total Assets

171.9 m194.2 m168.8 m174.5 m

Accounts Payable

1.2 m3.4 m2.8 m

Current Liabilities

68 m76.9 m59.9 m61.3 m

Total Liabilities

116.3 m

Additional Paid-in Capital

3.7 m10.4 m14.6 m13.6 m

Retained Earnings

30.8 m34.6 m48.1 m53.8 m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018

Cash

72 m75.2 m82.9 m82.3 m79.6 m45.5 m46.7 m51.5 m48.3 m53.9 m

Inventories

3.5 m3.3 m6.9 m6.8 m6.2 m5.2 m4.4 m4.5 m3.3 m1.7 m

Current Assets

105 m108.9 m122.6 m109.4 m101.8 m59.2 m59.6 m66.5 m64.6 m61.4 m

PP&E

3.4 m3.5 m3.9 m3.7 m3.5 m3.9 m3.8 m3.8 m3.5 m2.5 m

Goodwill

32.3 m32.3 m32.3 m32.3 m32.3 m47.5 m47.5 m47.5 m32.3 m32.3 m

Total Assets

186.3 m186.5 m200.1 m183.5 m176.3 m173.7 m173 m179.3 m149.8 m138.4 m

Accounts Payable

6.9 m7 m2.6 m1.3 m1.3 m3.7 m1.5 m2.8 m2.6 m1.4 m

Current Liabilities

70.8 m70.3 m79 m64.8 m62.4 m61.2 m58.3 m61.1 m58.6 m46.1 m

Total Liabilities

98.2 m

Additional Paid-in Capital

7.9 m9.4 m11.7 m12.7 m13.9 m13.6 m14.8 m15.6 m14.3 m14.7 m

Retained Earnings

38.4 m38.4 m35.9 m42.8 m46.2 m48.8 m51.6 m55 m30.7 m31.5 m

magicJack VocalTec Cash Flow

Annual

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

Net Income

70.3 m3.8 m13.5 m5.1 m

Depreciation and Amortization

4.9 m4.8 m3.6 m4.7 m

Accounts Receivable

(9.3 m)900 k(667 k)118 k

Inventories

(2.7 m)1.6 m1.6 m

Accounts Payable

(523 k)1.2 m1.5 m

Cash From Operating Activities

35.3 m25 m25.4 m15.3 m

Purchases of PP&E

(176 k)(2.2 m)(1 m)(605 k)

Cash From Investing Activities

12 m6.4 m(1 m)(41 m)

Cash From Financing Activities

(20.2 m)(1.5 m)(21.7 m)(420 k)

Income Taxes Paid

12.6 m279 k5.2 m1.5 m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2017Q1, 2018

Net Income

2.3 m(1 k)1.3 m7 m3.3 m2 m

Depreciation and Amortization

959 k

Accounts Receivable

390 k

Inventories

3.5 m3.3 m6.9 m6.8 m6.2 m3.3 m180 k

Accounts Payable

6.9 m7 m2.6 m1.3 m1.3 m2.6 m(1.8 m)

Cash From Operating Activities

1.3 m

Purchases of PP&E

(14 k)

Cash From Investing Activities

(14 k)

Cash From Financing Activities

(53 k)

Income Taxes Paid

47 k
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