Summary - Funding Rounds

Founding Date

2003

Skullcandy Income Statement

Annual

usdFY, 2013FY, 2014FY, 2015

Revenue

210.1m247.8m266.3m

Revenue growth, %

18%7%

Cost of goods sold

117.0m137.2m156.4m

Gross profit

93.1m110.6m109.9m

Gross profit Margin, %

44%45%41%

EBIT

(5.0m)11.8m9.0m

EBIT margin, %

(2%)5%3%

Interest expense

382.0k131.0k

Income tax expense

(2.9m)2.5m2.1m

Net Income

(3.0m)7.6m5.3m

Quarterly

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

Revenue

50.0m39.1m53.9m58.1m46.2m58.0m67.2m46.3m57.3m

Cost of goods sold

27.6m20.9m29.6m31.7m27.5m33.2m39.6m28.9m33.7m

Gross profit

22.4m18.2m24.2m26.3m18.7m24.8m27.6m17.4m23.6m

Gross profit Margin, %

45%46%45%45%41%43%41%38%41%

General and administrative expense

21.9m22.1m22.9m22.7m22.4m23.8m24.5m24.1m25.5m

Operating expense total

21.9m22.1m22.9m22.7m22.4m23.8m24.5m24.1m25.5m

EBIT

514.0k(3.9m)1.3m3.6m(3.6m)1.0m3.1m(6.8m)(2.0m)

EBIT margin, %

1%(10%)2%6%(8%)2%5%(15%)(3%)

Interest expense

125.0k11.0k181.0k5.0k

Interest income

12.0k

Income tax expense

(842.0k)(706.0k)(85.0k)507.0k(793.0k)(19.0k)697.0k(2.0m)(675.0k)

Net Income

1.1m(3.4m)1.6m2.2m(3.8m)1.2m2.1m(4.9m)(1.6m)

Skullcandy Balance Sheet

Annual

usdY, 2009Y, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015

Cash

1.7m6.5m23.3m19.3m38.8m21.6m23.0m

Accounts Receivable

57.5m74.4m

Inventories

40.3m4.1m6.2m

Current Assets

146.0m173.1m160.4m

PP&E

10.0m12.9m14.8m

Goodwill

13.9m13.9m13.9m

Total Assets

181.1m212.2m197.7m

Accounts Payable

16.6m27.3m13.2m

Short-term debt

Current Liabilities

39.4m56.7m35.3m

Long-term debt

Non-Current Liabilities

557.0k1.1m

Total Liabilities

57.2m36.5m

Additional Paid-in Capital

131.4m136.1m137.5m

Retained Earnings

53.2m60.8m66.7m

Total Equity

160.1m

Financial Leverage

1.2 x

Quarterly

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

Cash

34.7m48.2m44.1m24.7m19.4m11.7m10.4m29.2m24.6m

Accounts Receivable

41.2m36.4m43.8m52.8m45.4m54.6m65.5m46.8m53.1m

Inventories

48.7m42.7m50.8m64.2m63.9m61.2m62.5m43.2m44.5m

Current Assets

131.7m136.5m149.6m168.9m154.8m146.3m153.6m151.6m155.3m

PP&E

11.6m9.7m9.5m9.9m14.8m14.4m14.6m14.5m14.6m

Goodwill

13.9m13.9m13.9m13.9m13.9m13.9m13.9m13.9m13.9m

Total Assets

168.8m172.8m185.0m205.4m193.0m184.2m191.3m188.4m191.7m

Accounts Payable

16.9m14.6m19.9m33.6m28.8m18.0m15.7m12.9m17.2m

Current Liabilities

30.5m30.7m40.6m57.4m41.4m30.9m34.9m29.9m33.6m

Total Liabilities

33.2m37.2m32.1m35.8m

Common Stock

3.0k3.0k3.0k3.0k3.0k3.0k3.0k3.0k3.0k

Additional Paid-in Capital

129.7m133.6m134.3m135.3m135.6m136.7m137.6m138.7m139.6m

Retained Earnings

49.6m49.7m51.3m53.4m57.1m58.3m60.6m61.8m60.2m

Total Equity

150.6m153.9m156.3m155.9m

Financial Leverage

1.2 x1.2 x1.2 x1.2 x

Skullcandy Cash Flow

Annual

usdFY, 2013FY, 2014FY, 2015

Net Income

(3.0m)7.6m5.3m

Depreciation and Amortization

9.4m9.6m

Accounts Receivable

17.3m(18.0m)(14.0m)

Inventories

1.1m(15.0m)12.5m

Accounts Payable

(6.3m)11.7m(13.1m)

Cash From Operating Activities

23.5m7.1m(1.5m)

Purchases of PP&E

(4.1m)(11.1m)(10.5m)

Cash From Investing Activities

(4.1m)(26.1m)4.0m

Long-term Borrowings

Cash From Financing Activities

(159.0k)1.7m(813.0k)

Interest Paid

1.0k

Quarterly

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

Net Income

1.1m(3.4m)1.6m2.2m(3.8m)
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