Silver Spring was founded in 2002 and is headquartered in San Jose, US

President, CEO

General Counsel & Secretary

Silver Spring has offices in San Jose, Chicago, Escondido, San Antonio and in 9 other locations

San Jose, US (HQ)

230 W Tasman Dr

São Paulo, BR

1089 Av. Roque Petroni Júnior

Paris, FR

26 Boulevard Malesherbes

London, GB

305 1 Eversholt St

Singapore, SG

02-11 460 Alexandra Rd

Melbourne, AU

25 360 Collins St

Silver Spring's revenue was reported to be $50.3 m in Q1, 2017

USD

## Revenue (Q1, 2017) | 50.3 m |

## Gross profit (Q1, 2017) | 16.9 m |

## Gross profit margin (Q1, 2017), % | 34% |

## Net income (Q1, 2017) | (23.2 m) |

## EBIT (Q1, 2017) | (23.1 m) |

## Market capitalization (22-Aug-2017) | 683.7 m |

## Cash (31-Mar-2017) | 49.3 m |

Silver Spring's current market capitalization is $683.7 m.

USD | FY, 2011^{} | FY, 2012^{} | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|---|---|

## Revenue | 326.9 m | 191.3 m | 489.6 m | 311 m | ||

## Revenue growth, % | (41%) | 156% | (36%) | |||

## Cost of goods sold | 166.1 m | 115.3 m | 150.3 m | 77.2 m | 202.4 m | 172.8 b |

## Gross profit | 176.5 m | 114.1 m | 287.1 m | (172.5 b) | ||

## Gross profit Margin, % | 54% | 60% | 59% | (55464%) | ||

## Sales and marketing expense | 39.4 b | |||||

## R&D expense | 70.7 b | |||||

## General and administrative expense | 45.8 b | |||||

## Operating expense total | 155.9 b | |||||

## EBIT | (41.8 m) | (87.9 m) | 83 m | (19.9 b) | ||

## EBIT margin, % | (13%) | (46%) | 17% | (6406%) | ||

## Interest expense | 343 k | 4.3 m | 1.2 m | 132 k | 52 k | 7 m |

## Interest income | 86 k | 316 k | 468 k | 470 m | ||

## Pre tax profit | (66.6 m) | (87.7 m) | 83.1 m | (19.3 b) | ||

## Income tax expense | 363 k | 390 k | 224 k | 1.4 m | 3.1 m | (2.4 b) |

## Net Income | (66.8 m) | (89.2 m) | 80 m | (21.6 m) |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 41.6 m | 28 m | 143.6 m | 77.2 m | 69.5 m | 48.6 m | 122 m | 74.2 m | 50.3 m |

## Cost of goods sold | 28.2 m | 26.7 m | 72.2 m | 57.2 m | 36.5 m | 31.6 m | 57.4 m | 45.9 m | 33.4 m |

## Gross profit | 13.4 m | 1.3 m | 71.5 m | 20 m | 33 m | 17 m | 64.5 m | 28.2 m | 16.9 m |

## Gross profit Margin, % | 32% | 5% | 50% | 26% | 47% | 35% | 53% | 38% | 34% |

## Sales and marketing expense | 8.9 m | 10.1 m | 9.3 m | 8.9 m | 7.9 m | 9.6 m | 8.6 m | 10.4 m | 9.1 m |

## R&D expense | 17.3 m | 17 m | 15.7 m | 16.1 m | 15.8 m | 15.5 m | 17.9 m | 18.2 m | 18.6 m |

## General and administrative expense | 11.9 m | 9.6 m | 12.1 m | 10.5 m | 9.3 m | 10.8 m | 11.2 m | 11.7 m | 12.3 m |

## Operating expense total | 38.1 m | 36.7 m | 37.1 m | 35.4 m | 33 m | 35.9 m | 37.8 m | 40.3 m | 40 m |

## EBIT | (24.7 m) | (37.4 m) | 34.1 m | (16.5 m) | (394 k) | (18.9 m) | 26.7 m | (14.2 m) | (23.1 m) |

## EBIT margin, % | (59%) | (133%) | 24% | (21%) | (1%) | (39%) | 22% | (19%) | (46%) |

## Interest expense | 85 k | 7 k | |||||||

## Interest income | 85 k | 7 k | |||||||

## Pre tax profit | (24.6 m) | (37.4 m) | 34.4 m | (16.5 m) | (493 k) | (18.5 m) | 27.1 m | (14.1 m) | (22.6 m) |

## Income tax expense | 4 k | (140 k) | (476 k) | (290 k) | 32 k | 961 k | 1.1 m | (570 k) | |

## Net Income | (24.6 m) | (37.3 m) | 34.9 m | (16.2 m) | (622 k) | (18.5 m) | 26.1 m | (15.2 m) | (23.2 m) |

USD | Y, 2010^{} | Y, 2011^{} | Y, 2012^{} | Y, 2013^{} | Y, 2014^{} | Y, 2015^{} | FY, 2016^{} |
---|---|---|---|---|---|---|---|

## Cash | 42.7 m | 71.7 m | 72.6 m | 82.6 m | 60.5 m | 65.3 m | 50.4 m |

## Accounts Receivable | 69.7 m | 54.7 m | 47.8 m | 44.8 m | |||

## Inventories | 4.8 m | 5.1 m | 10.8 m | 8 m | |||

## Current Assets | 262.1 m | 222.3 m | 384.5 m | 378.4 m | |||

## PP&E | 12.4 m | 12.9 m | 14.1 m | 29 m | |||

## Total Assets | 516.4 m | 548.2 m | 457.7 m | 447.1 m | |||

## Accounts Payable | 31.3 m | 27.5 m | 30.6 m | 26.8 m | |||

## Current Liabilities | 166.7 m | 143.9 m | 378.8 m | 363.2 m | |||

## Total Liabilities | 478.7 m | ||||||

## Additional Paid-in Capital | 539 m | 573.3 m | 594.3 m | 618.6 m | |||

## Retained Earnings | (617.3 m) | (706.4 m) | (626.4 m) | (648.1 m) | |||

## Total Equity | (78.1 m) | (133.8 m) | |||||

## Financial Leverage | -6.6 x | -4.1 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 64.8 m | 50.1 m | 50.7 m | 61.8 m | 63.5 m | 68.4 m | 68 m | 48 m | 49.3 m |

## Accounts Receivable | 58.1 m | 67.9 m | 47.9 m | 41.5 m | 44.1 m | 43.8 m | 47 m | 45 m | 48.4 m |

## Inventories | 4.6 m | 4.5 m | 7.3 m | 4.5 m | 3.8 m | 4.1 m | 2.5 m | 5.3 m | 5.5 m |

## Current Assets | 228 m | 216 m | 362.6 m | 371.9 m | 376.4 m | 403.7 m | 378.4 m | 371.5 m | 387.8 m |

## PP&E | 12.6 m | 12.4 m | 12.6 m | 12.3 m | 12.3 m | 19.5 m | 28.1 m | 29.8 m | 27.5 m |

## Total Assets | 534.3 m | 552.9 m | 528.2 m | 517.9 m | 529.8 m | 465.6 m | 449.4 m | 437.4 m | 449.6 m |

## Accounts Payable | 27.7 m | 28.4 m | 30.4 m | 25.4 m | 28.1 m | 31.6 m | 32 m | 22.4 m | 29.6 m |

## Current Liabilities | 144.9 m | 133.2 m | 372.8 m | 410 m | 407.5 m | 423.7 m | 363.2 m | 352.3 m | 387.1 m |

## Retained Earnings | (669.7 m) | (706.9 m) | (671.5 m) | (687.7 m) | (688.3 m) | (645 m) | (618.8 m) | (634.1 m) | (671.5 m) |

## Total Equity | (111.7 m) | (139 m) | (94.3 m) | (104.9 m) | |||||

## Financial Leverage | -4.8 x | -4 x | -5.6 x | -4.9 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | (66.8 m) | (89.2 m) | 80 m | (21.6 m) |

## Depreciation and Amortization | 6.6 m | 6.5 m | 7.8 m | 8.6 m |

## Accounts Receivable | (13 m) | 15.6 m | 7.4 m | 3.1 m |

## Inventories | (1.2 m) | (724 k) | (5.1 m) | (3.5 m) |

## Accounts Payable | 2.8 m | (4.1 m) | 3.1 m | (4.5 m) |

## Cash From Operating Activities | 10 m | (8.8 m) | 19.7 m | 20.8 m |

## Purchases of PP&E | (4 m) | (6.1 m) | (5.4 m) | (24.8 m) |

## Cash From Investing Activities | (67.2 m) | (12.3 m) | (11.7 m) | (33.9 m) |

## Cash From Financing Activities | 77.1 m | (983 k) | (3 m) | (1.6 m) |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | (24.6 m) | (37.3 m) | 34.9 m | (16.2 m) | (622 k) | (18.5 m) | 26.1 m | (15.2 m) | (23.2 m) |

## Accounts Receivable | 58.1 m | 67.9 m | 47.9 m | 41.5 m | 44.1 m | 43.8 m | 47 m | 45 m | 48.4 m |

## Inventories | 4.6 m | 4.5 m | 7.3 m | 4.5 m | 3.8 m | 4.1 m | 2.5 m | 5.3 m | 5.5 m |

## Accounts Payable | 27.7 m | 28.4 m | 30.4 m | 25.4 m | 28.1 m | 31.6 m | 32 m | 22.4 m | 29.6 m |

USD | Y, 2017 |
---|---|

## Revenue/Employee | 71.5 k |

Silver Spring's Customers was reported to be 53 in FY, 2016, which is a 8% increase from the previous period. Silver Spring's Backlog was reported to be $159.2 m in FY, 2016, which is a 5% increase from the previous period

- Source: SEC Filings

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