Summary - Funding Rounds

In total, Silver Spring had raised $369.2 m. Silver Spring is a subsidiary of Itron

Silver Spring Revenue Breakdown

Embed Graph

Silver Spring revenue breakdown by geographic segment: 83.7% from United States, 14.0% from Australia and 2.3% from Other

Silver Spring Income Statement

Annual

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

Revenue

326.9m191.3m489.6m311.0m

Revenue growth, %

(41%)156%(36%)

Cost of goods sold

211.5m77.2m263.8m172.8m

Gross profit

115.4m114.1m225.7m138.2m

Gross profit Margin, %

35%60%46%44%

Sales and marketing expense

34.9m33.5m39.4m

R&D expense

77.0m61.3m70.7m

General and administrative expense

45.2m46.4m45.8m

Operating expense total

157.1m142.8m158.1m

EBIT

(41.8m)(87.9m)83.0m(19.9m)

EBIT margin, %

(13%)(46%)17%(6%)

Interest expense

1.2m132.0k52.0k7.0k

Interest income

86.0k316.0k468.0k470.0k

Pre tax profit

(66.6m)(87.7m)83.1m(19.3m)

Income tax expense

224.0k1.4m3.1m2.4m

Net Income

(66.8m)(89.2m)80.0m(21.6m)

Silver Spring Balance Sheet

Annual

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

Cash

42.7m71.7m72.6m82.6m82.6m60.5m60.5m65.3m65.3m50.4m

Accounts Receivable

69.7m69.7m54.7m54.7m47.8m47.8m44.8m

Prepaid Expenses

4.8m5.1m10.8m

Inventories

4.8m4.4m5.1m6.7m10.8m4.5m8.0m

Current Assets

262.1m262.1m222.3m222.3m384.5m384.5m378.4m

PP&E

12.4m12.4m12.9m12.9m14.1m14.1m29.0m

Goodwill

8.2m14.4m

Total Assets

516.4m516.4m548.2m548.2m457.7m457.7m447.1m

Accounts Payable

31.3m31.3m27.5m27.5m30.6m30.6m26.8m

Short-term debt

1.6m1.6m1.2m1.2m

Current Liabilities

166.7m166.7m143.9m143.9m378.8m378.8m363.2m

Long-term debt

Total Debt

1.6m1.2m

Total Liabilities

682.0m491.6m478.7m

Common Stock

46.0k47.0k51.0k

Additional Paid-in Capital

539.0m539.0m573.3m573.3m594.3m594.3m618.6m

Retained Earnings

(617.3m)(617.3m)(706.4m)(706.4m)(626.4m)(626.4m)(648.1m)

Total Equity

(78.1m)(78.1m)(133.8m)(133.8m)(33.9m)

Debt to Equity Ratio

0 x

Debt to Assets Ratio

0 x

Financial Leverage

-6.6 x-6.6 x-4.1 x-4.1 x-13.5 x

Quarterly

USDQ1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

142.4m125.0m81.9m78.5m64.8m50.1m50.7m61.8m63.5m68.4m68.0m48.0m49.3m51.1m58.9m

Accounts Receivable

50.0m69.7m59.6m61.4m58.1m67.9m47.9m41.5m44.1m43.8m47.0m45.0m48.4m51.7m50.0m

Prepaid Expenses

4.6m6.6m5.6m5.9m7.9m7.4m7.5m9.4m9.6m11.3m14.2m11.6m8.4m11.4m13.0m

Inventories

12.3m12.6m7.0m4.9m4.6m4.5m7.3m4.5m3.8m4.1m2.5m5.3m5.5m5.3m6.1m

Current Assets

282.9m328.1m281.5m246.6m228.0m216.0m362.6m371.9m376.4m403.7m378.4m371.5m387.8m219.1m267.7m

PP&E

12.4m13.0m12.9m12.5m12.6m12.4m12.6m12.3m12.3m19.5m28.1m29.8m27.5m26.0m26.4m

Goodwill

16.0m15.5m14.9m14.0m13.6m11.2m10.8m10.6m10.4m

Total Assets

494.3m506.9m513.9m524.4m534.3m552.9m528.2m517.9m529.8m465.6m449.4m437.4m449.6m295.6m316.5m

Accounts Payable

26.5m35.6m26.3m28.5m27.7m28.4m30.4m25.4m28.1m31.6m32.0m22.4m29.6m30.4m37.0m

Short-term debt

1.5m1.4m1.8m1.6m1.6m1.4m897.0k

Current Liabilities

222.8m258.6m205.2m149.1m144.9m133.2m372.8m410.0m407.5m423.7m363.2m352.3m387.1m169.5m282.6m

Total Debt

1.5m1.4m1.8m1.6m1.6m1.4m897.0k

Total Liabilities

622.5m622.8m629.1m511.5m461.7m458.7m492.2m315.9m355.5m

Common Stock

46.0k46.0k46.0k547.9m557.9m567.8m578.8m584.3m590.6m600.7m608.3m614.7m630.9m53.5m54.1m

Additional Paid-in Capital

510.9m518.6m528.6m634.6m641.2m

Retained Earnings

(614.8m)(605.3m)(617.6m)(645.1m)(669.7m)(706.9m)(671.5m)(687.7m)(688.3m)(645.0m)(618.8m)(634.1m)(671.5m)(652.9m)(678.1m)

Total Equity

(104.0m)(86.7m)(88.9m)(97.1m)(111.7m)(139.0m)(94.3m)(104.9m)(99.3m)(45.9m)(12.3m)(21.3m)(42.7m)(20.3m)(39.0m)

Debt to Equity Ratio

0 x0 x0 x0 x0 x

Debt to Assets Ratio

0 x0 x0 x0 x0 x

Financial Leverage

-4.8 x-5.8 x-5.8 x-5.4 x-4.8 x-4 x-5.6 x-4.9 x-5.3 x-10.2 x-36.6 x-20.5 x-10.5 x-14.6 x-8.1 x

Silver Spring Cash Flow

Annual

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

Net Income

(66.8m)(89.2m)80.0m(21.6m)

Depreciation and Amortization

6.6m6.5m7.8m8.6m

Accounts Receivable

(13.2m)15.6m7.4m3.1m

Inventories

3.0m(2.3m)2.2m(3.5m)

Accounts Payable

2.8m(4.1m)3.1m(4.5m)

Cash From Operating Activities

14.0k(8.8m)19.7m20.8m

Purchases of PP&E

(3.9m)(6.1m)(5.3m)(24.8m)

Cash From Investing Activities

(67.2m)(12.3m)(11.7m)(33.9m)

Long-term Borrowings

(2.0m)(1.5m)(1.2m)(285.0k)

Cash From Financing Activities

77.1m(983.0k)(3.0m)(1.6m)

Net Change in Cash

10.0m(22.1m)4.8m(14.9m)

Interest Paid

263.0k132.0k51.0k

Income Taxes Paid

233.0k659.0k2.7m5.4m

Silver Spring Operating Metrics

Q2, 2014Q3, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Jan, 2018

Backlog

$108 m$152 m$159.20 m

Billings

$276.71 m$281.92 m$71.85 m$76.14 m$294.60 m$67.95 m

Cumulative Endpoints

19.10 m19.70 m20.80 m21.50 m22.30 m23.60 m24.30 m24.90 m26 m

Customers

45 49 53

Devices Sold

27.30 m

Endpoints

698 k747 k569 k511 k

Network Users

20 m22.90 m25.50 m

Patents (Foreign)

141 155 171

Patents (US)

72 95 110

Patents Pending (Foreign)

76 74 68

Patents Pending (US)

73 62 61

Silver Spring Employee Rating

3.3148 votes
Culture & Values
3.0
Work/Life Balance
3.5
Senior Management
2.5
Salary & Benefits
3.6
Career Opportunities
2.7
Source