## Founding Date | 1990 |

## Investors | Accel Partners, Venrock |

Polycom is a subsidiary of Poly

Polycom revenue breakdown by geographic segment: 48.7% from Americas, 26.6% from EMEA and 24.7% from APAC

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Revenue | 1.4b | 1.3b | 1.3b | 1.1b | 1.1b |

| (2%) | (6%) | (11%) | 2% | |

## Cost of goods sold | 575.6m | 560.1m | 528.5m | 501.9m | 496.0m |

## Gross profit | 792.8m | 785.0m | 738.8m | 621.0m | 646.8m |

| 58% | 58% | 58% | 55% | 57% |

## Sales and marketing expense | 435.0m | 388.8m | 349.7m | ||

## R&D expense | 216.0m | 196.5m | 191.5m | ||

## General and administrative expense | 96.6m | 99.9m | 88.6m | ||

## Operating expense total | 747.7m | 685.1m | 629.8m | ||

## Depreciation and amortization | 10.4m | 9.8m | 9.5m | ||

## EBIT | (17.2m) | 46.5m | 87.8m | ||

| (1%) | 3% | 7% | ||

## Interest expense | 3.2m | 5.9m | 6.1m | ||

## Pre tax profit | (22.2m) | 43.0m | 85.9m | ||

## Income tax expense | (3.7m) | 956.0k | 15.9m | ||

## Net Income | (18.1m) | 42.1m | 70.0m |

- Source: SEC Filings

USD | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 |
---|---|---|---|---|---|---|---|---|

## Revenue | 328.5m | 332.0m | 335.7m | 330.7m | 316.6m | 303.1m | 290.1m | 287.8m |

## Cost of goods sold | 136.5m | 136.8m | 139.0m | 137.9m | 130.7m | 124.2m | 126.2m | 126.5m |

## Gross profit | 192.0m | 195.2m | 196.7m | 192.8m | 185.9m | 178.9m | 163.8m | 161.3m |

| 58% | 59% | 59% | 58% | 59% | 59% | 56% | 56% |

## Sales and marketing expense | 94.0m | 97.8m | 98.0m | 90.9m | 89.4m | 86.9m | 79.5m | 82.5m |

## R&D expense | 48.1m | 49.0m | 51.0m | 49.3m | 46.5m | 46.7m | 43.1m | 44.0m |

## General and administrative expense | 23.8m | 24.6m | 25.7m | 21.2m | 22.3m | 22.7m | 20.1m | 20.3m |

## Operating expense total | 198.9m | 183.1m | 177.7m | 163.8m | 161.0m | 159.0m | 156.6m | 162.7m |

## Depreciation and amortization | 2.5m | 2.4m | 2.4m | 2.4m | 2.4m | 2.4m | 2.2m | 2.0m |

## EBIT | (6.9m) | 12.1m | 19.0m | 29.0m | 24.9m | 19.9m | 7.2m | (1.4m) |

| (2%) | 4% | 6% | 9% | 8% | 7% | 2% | 0% |

## Interest expense | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.6m | 1.7m |

## Pre tax profit | (7.6m) | 10.4m | 18.8m | 27.6m | 24.7m | 19.3m | 6.5m | (1.1m) |

## Income tax expense | (3.6m) | 1.9m | 1.8m | 6.4m | 5.1m | 5.8m | 3.1m | 8.9m |

## Net Income | (4.0m) | 8.6m | 17.0m | 21.2m | 19.6m | 13.6m | 3.3m | (10.0m) |

- Source: SEC Filings

USD | FY, 2010 | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 |
---|---|---|---|---|---|---|

## Cash | 324.2m | 375.4m | 477.1m | 392.6m | 443.1m | 435.1m |

## Accounts Receivable | 154.5m | 219.6m | 194.7m | 183.4m | 169.4m | 187.9m |

## Prepaid Expenses | 51.4m | 55.5m | ||||

## Inventories | 114.0m | 107.6m | 100.0m | 103.3m | 100.3m | 89.4m |

## Current Assets | 837.1m | 953.6m | 1.1b | 901.4m | 998.5m | 949.5m |

## PP&E | 110.3m | 130.0m | 133.3m | 115.2m | 109.2m | 101.9m |

## Goodwill | 493.1m | 584.2m | 553.8m | 559.5m | 559.2m | 558.8m |

## Total Assets | 1.5b | 1.8b | 1.9b | 1.7b | 1.8b | 1.8b |

## Accounts Payable | 90.9m | 113.9m | 90.0m | 84.6m | 108.2m | 73.5m |

## Short-term debt | 114.0m | 6.3m | 6.3m | 5.7m | ||

## Current Liabilities | 285.7m | 359.2m | 355.7m | 386.6m | 421.1m | 378.0m |

## Long-term debt | 242.2m | 235.9m | 228.8m | |||

## Non-Current Liabilities | 420.9m | 386.4m | 351.1m | |||

## Total Debt | 114.0m | 248.4m | 242.2m | 234.5m | ||

## Total Liabilities | 372.4m | 474.7m | 484.7m | 807.5m | 807.5m | 729.0m |

## Common Stock | 40.0k | 40.0k | 38.0k | 68.0k | 68.0k | 66.0k |

## Additional Paid-in Capital | 1.2b | 1.2b | 1.3b | 1.1b | 1.2b | 1.2b |

## Retained Earnings | 11.6m | 118.3m | 100.0m | (132.3m) | (136.3m) | (113.4m) |

## Total Equity | 1.2b | 1.4b | 1.4b | 976.4m | 1.0b | 1.1b |

## EPS | (0.1) | 0.3 | 0.5 | |||

## Debt to Equity Ratio | 0.3 x | 0.2 x | 0.2 x | |||

## Debt to Assets Ratio | 0.1 x | 0.1 x | 0.1 x | |||

## Financial Leverage | 1.3 x | 1.3 x | 1.3 x | 1.8 x | 1.8 x | 1.7 x |

- Source: SEC Filings

- Source: SEC Filings

USD | FY, 2010 | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 |
---|---|---|---|---|---|---|

## Net Income | 68.4m | 135.8m | 9.8m | (18.1m) | 42.1m | 70.0m |

## Depreciation and Amortization | 41.4m | 52.6m | 61.6m | 64.8m | 57.4m | 51.7m |

## Accounts Receivable | (21.7m) | (63.0m) | 16.6m | 13.8m | 13.5m | (19.0m) |

## Inventories | (42.8m) | 2.5m | (11.4m) | (10.7m) | (3.6m) | (1.7m) |

## Accounts Payable | 3.7m | 22.8m | (22.9m) | (5.2m) | 19.0m | (31.5m) |

## Cash From Operating Activities | 143.4m | 299.6m | 187.0m | 168.4m | 205.4m | 119.5m |

## Purchases of PP&E | (69.3m) | (69.3m) | (67.3m) | (53.0m) | (50.1m) | (47.6m) |

## Cash From Investing Activities | (142.6m) | (237.7m) | (52.6m) | (7.9m) | (111.0m) | (40.7m) |

## Long-term Borrowings | (1.6m) | (6.2m) | (6.2m) | |||

## Cash From Financing Activities | (7.7m) | (10.7m) | (32.8m) | (245.0m) | (44.0m) | (85.2m) |

## Net Change in Cash | (6.9m) | 51.3m | 101.6m | (84.4m) | 50.5m | (8.0m) |

## Interest Paid | 834.0k | 544.0k | 751.0k | 2.8m | 5.0m | 5.5m |

## Income Taxes Paid | 24.3m | 15.9m | 24.6m | 9.5m | 15.3m | 7.4m |

- Source: SEC Filings

- Source: SEC Filings