SendGrid Financials

$28.3 M

Revenue Q3, 2017
Gross profit (Q3, 2017)20.7 M
Gross profit margin (Q3, 2017), %73%
Net income (Q3, 2017)(1.6 M)
EBIT (Q3, 2017)(1.6 M)
Cash, 30-Sep-201737.4 M

Financials

Revenue/Financials

Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

42.8 m58.5 m79.9 m

Revenue growth, %

37%37%

Cost of goods sold

15.2 m19 m21.6 m

Gross profit

27.6 m39.5 m58.3 m

Gross profit Margin, %

64%68%73%

Sales and marketing expense

15.3 m13.7 m21.8 m

R&D expense

15.3 m19 m21.2 m

General and administrative expense

9.6 m12.5 m18.9 m

Operating expense total

40.2 m45.2 m61.9 m

EBIT

(12.6 m)(5.7 m)(3.6 m)

EBIT margin, %

(29%)(10%)(5%)

Interest expense

305 k165 k195 k

Pre tax profit

(13 m)(5.9 m)(3.9 m)

Net Income

(13 m)(5.9 m)(3.9 m)

Balance Sheet

Annual

USDFY, 2015FY, 2016

Cash

9.3 m40.4 m

Accounts Receivable

2.6 m4.1 m

Prepaid Expenses

1.7 m2.6 m

Current Assets

14 m47.2 m

PP&E

10.4 m19.2 m

Total Assets

24.7 m66.6 m

Accounts Payable

3.6 m7.8 m

Short-term debt

4.2 m5 m

Current Liabilities

8.3 m13.4 m

Long-term debt

3.2 m5.6 m

Total Debt

7.3 m10.7 m

Total Liabilities

12.8 m23.7 m

Common Stock

4 k5 k

Preferred Stock

47.9 m80.7 m

Additional Paid-in Capital

3.7 m5.8 m

Retained Earnings

(39.7 m)(43.6 m)

Total Equity

(35.9 m)(37.8 m)

EPS

(0.8)(0.5)

Debt to Equity Ratio

-0.2 x-0.3 x

Debt to Assets Ratio

0.3 x0.2 x

Financial Leverage

-0.7 x-1.8 x

Quarterly

USDQ2, 2017Q3, 2017

Cash

37.6 m37.4 m

Accounts Receivable

4.7 m6.7 m

Prepaid Expenses

3 m5.4 m

Current Assets

45.4 m49.5 m

PP&E

24.9 m26.3 m

Goodwill

1.6 m1.6 m

Total Assets

73.4 m79.7 m

Accounts Payable

9 m11.3 m

Short-term debt

5.7 m5.8 m

Current Liabilities

15.9 m19.5 m

Long-term debt

10 m10.8 m

Total Debt

15.6 m16.6 m

Total Liabilities

31.5 m38.1 m

Common Stock

5 k5 k

Preferred Stock

80.7 m80.7 m

Additional Paid-in Capital

7.9 m9.3 m

Retained Earnings

(46.7 m)(48.3 m)

Total Equity

(38.8 m)(39 m)

EPS

(0.4)(0.6)

Debt to Equity Ratio

-0.4 x-0.4 x

Debt to Assets Ratio

0.2 x0.2 x

Financial Leverage

-1.9 x-2 x

Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016

Net Income

(13 m)(5.9 m)(3.9 m)

Depreciation and Amortization

2.9 m5.5 m6.9 m

Accounts Receivable

(664 k)(963 k)(1.3 m)

Accounts Payable

523 k1.1 m2.8 m

Cash From Operating Activities

(9.6 m)1.2 m9.7 m

Purchases of PP&E

(2.4 m)(1.3 m)(7.1 m)

Cash From Investing Activities

(2.6 m)(1 m)(6.5 m)

Long-term Borrowings

(1.5 m)(3.9 m)(5.1 m)

Cash From Financing Activities

19.3 m(3.2 m)28 m

Net Change in Cash

7 m(3 m)31.1 m

Interest Paid

492 k172 k182 k

Quarterly

USDQ2, 2016Q3, 2016Q2, 2017Q3, 2017

Net Income

(3.5 m)(3.5 m)(3.1 m)(4.7 m)

Depreciation and Amortization

3.4 m5.1 m4.6 m7 m

Accounts Receivable

(796 k)(261 k)(803 k)(458 k)

Accounts Payable

1.6 m1.3 m2.1 m4.3 m

Cash From Operating Activities

2.4 m7.1 m5.1 m10.1 m

Purchases of PP&E

(1 m)(4.5 m)(3 m)(4.8 m)

Cash From Investing Activities

(893 k)(4.3 m)(5.1 m)(6.9 m)

Long-term Borrowings

(2.4 m)(3.7 m)(3 m)(5.1 m)

Cash From Financing Activities

(2.4 m)(3.6 m)(2.8 m)(6.2 m)

Net Change in Cash

(877 k)(907 k)(2.8 m)(3 m)

Interest Paid

194 k21 k69 k42 k

Ratios

USDY, 2017

Revenue/Employee

66.3 k

Debt/Equity

-0.4 x

Debt/Assets

0.2 x

Financial Leverage

-2 x

Operating Metrics

SendGrid's Active Customers was reported to be 120 k in Nov, 2016. SendGrid's Customers was reported to be 58.2 k in Q3, 2017
FY, 2014FY, 2015Q2, 2016Q3, 2016Nov, 2016FY, 2016Q2, 2017Q3, 2017

Customers

28.5 k33.4 k40 k42.7 k42 k45.9 k55.2 k58.2 k

Emails Processed (for the Period Ended)

161 b233 b149 b237 b338 b210 b325 b

Retention Rate

116%112%110%110%111%117%116%

Emails Processed per Month

30 b35 b36 b

Emails Processed per Day

1 b

Active Customers

120 k

Emails Processed to Date

1 t

    Human Capital

    SendGrid's employees are reported to be approximately 32% female and 68% male.
    Y, 2016Y, 2015Y, 2014
    Male68 %76 %78 %
    Female32 %24 %22 %
    Y, 2014
    Asian10 %
    White83 %
    Other7 %