Summary - Funding Rounds

Founding Date

2004

NeuLion Income Statement

Annual

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

Revenue

47.1 m55.5 m94 m99.8 m

Revenue growth, %

18%69%6%

R&D expense

7.4 m8.4 m24.9 m19.9 m

Operating expense total

7.4 m8.4 m24.9 m19.9 m

EBIT

(1.6 m)3.5 m(1.9 m)(248 k)

EBIT margin, %

(3%)6%(2%)0%

Interest expense

2.5 k

Income tax expense

(276.8 k)(270.5 k)27.8 m(1.4 m)

Net Income

3.6 m25.9 m(1.8 m)

Quarterly

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

Revenue

10 m13.5 m13.4 m12.2 m21.7 m22.7 m21.9 m26.3 m24.1 m23.9 m23.9 m23.9 m

R&D expense

1.9 m2 m2.2 m2.1 m5.3 m7.5 m6.6 m4.4 m5.3 m5.2 m4.2 m5 m

Operating expense total

1.9 m2 m2.2 m2.1 m5.3 m7.5 m6.6 m4.4 m5.3 m5.2 m4.2 m5 m

EBIT

(1.5 m)946.3 k552 k249.8 k600.2 k(2.5 m)(1.7 m)3.4 m(348 k)(1.5 m)(2.4 m)(2.4 m)

EBIT margin, %

(15%)7%4%2%3%(11%)(8%)13%(1%)(6%)(10%)(10%)

Interest expense

2.1 k

Income tax expense

(160 k)(254.8 k)62.2 k28.4 k(885.6 k)(1.2 m)(1.2 m)(1.7 m)(227 k)(1.2 m)443 k(108 k)

NeuLion Balance Sheet

Annual

usdY, 2010Y, 2011Y, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Cash

12.9 m12.3 m11.1 m19.6 m25.9 m53.4 m41.9 m

Accounts Receivable

5.3 m8.1 m13 m14.1 m

Inventories

481 k304 k199 k186 k

Current Assets

27.2 m36.3 m70.4 m61.2 m

PP&E

3.4 m3.8 m6.6 m14.2 m

Goodwill

11.3 m11.3 m11.5 m13.2 m

Total Assets

43.6 m51.9 m144.2 m148.4 m

Accounts Payable

13 m14.4 m10 m11.8 m

Current Liabilities

27.2 m29.2 m31.8 m38.5 m

Total Liabilities

43 m

Common Stock

1.7 m1.8 m2.8 m2.8 m

Additional Paid-in Capital

85.4 m87.6 m167.7 m167.4 m

Retained Earnings

(87.7 m)(84.1 m)(62.2 m)(64 m)

Total Equity

5.1 m108.1 m105.4 m

Financial Leverage

10.2 x1.3 x1.4 x

Quarterly

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

Cash

21.3 m18.3 m14.6 m25.8 m35.2 m34.1 m59.1 m61.5 m46.1 m69.6 m32.7 m25.1 m

Accounts Receivable

282.7 k415.9 k400.9 k372.3 k670.2 k488 k684 k849 k1.3 m879 k562 k554 k

Inventories

356.7 k383.3 k494.9 k296 k268.3 k241 k229 k181 k206 k197 k191 k178 k

Current Assets

27.4 m25.8 m21.9 m33 m70.4 m61.1 m80.2 m77.1 m61 m86.8 m54.7 m54.3 m

PP&E

3.4 m3.1 m3.1 m4 m7.2 m6.8 m6.9 m6.9 m6.9 m6.8 m15.5 m8.8 m

Goodwill

11.3 m11.3 m11.3 m11.3 m12.1 m11.5 m11.5 m11.5 m13.2 m13.2 m13.2 m13.2 m

Total Assets

44.3 m41.7 m37.4 m49 m118 m107.7 m125.2 m148.9 m143.1 m166.7 m141.8 m135.4 m

Accounts Payable

16.6 m11.3 m7 m14.6 m12.2 m7 m22.9 m9.6 m7.7 m28.5 m11.1 m12 m

Current Liabilities

29.7 m23.2 m17.3 m28.3 m31.4 m24.1 m44 m33.6 m28.8 m54.5 m36.3 m30.5 m

Total Liabilities

31.9 m25.6 m20.1 m30.9 m65.8 m31.1 m50.7 m37.9 m32.8 m59.6 m39.6 m34.5 m

Common Stock

1.7 m1.7 m1.8 m1.8 m2.2 m2.4 m2.4 m2.8 m2.8 m2.8 m2.8 m2.8 m

Additional Paid-in Capital

84.8 m86.2 m86.8 m87.2 m119.9 m147.2 m148.2 m168.5 m168.6 m168.2 m166.1 m166.6 m

Retained Earnings

(88.7 m)(86.6 m)(86 m)(85.7 m)(84.6 m)(87.8 m)(91 m)(60.2 m)(60.9 m)(63.7 m)(65.9 m)(68.2 m)

Total Equity

(2.5 m)1.1 m2.4 m3.1 m37.3 m61.6 m59.5 m110.9 m110.3 m107.1 m102.2 m100.9 m

Financial Leverage

-17.7 x36.6 x15.7 x15.9 x3.2 x1.7 x2.1 x1.3 x1.3 x1.6 x1.4 x1.3 x

NeuLion Cash Flow

Annual

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

Net Income

3.6 m25.9 m(1.8 m)

Depreciation and Amortization

3.8 m2.6 m7.5 m8.9 m

Accounts Receivable

(1.1 m)(2.8 m)18.9 m(1.1 m)

Inventories

(64.5 k)177 k105 k13 k

Accounts Payable

3.2 m1.4 m(5.2 m)1.8 m

Cash From Operating Activities

6.3 m27.5 m12.5 m

Cash From Financing Activities

355.7 k864.2 k866 k

Income Taxes Paid

269 k4 m3.5 m

Quarterly

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

Net Income

(1.9 m)(4.2 m)

Depreciation and Amortization

990.1 k685.8 k709.6 k679.9 k1.5 m2.1 m2 m2 m2.1 m2.4 m2.4 m4.9 m

Accounts Receivable

400.9 k372.3 k670.2 k488 k684 k849 k1.3 m879 k(3.6 m)(3.7 m)

Inventories

494.9 k296 k268.3 k241 k229 k181 k206 k197 k(5 k)8 k

Accounts Payable

7 m14.6 m12.2 m7 m22.9 m9.6 m7.7 m28.5 m(675 k)203 k

Income Taxes Paid

(160 k)62.2 k28.4 k(885.6 k)118 k984 k
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