Industry leading Determine Cloud Platform positions Determine for growth and profitability in FY2018
CARMEL, IN--(Marketwired - Jun 8, 2017) - Determine, Inc. (
FY2017 GAAP Financial Highlights:
(in thousands, except per share amounts) | ||||||||||||||||||||||||||||||||
GAAP Financial Measures | Q4 | Q3 | Q4 | Change | Change | Twelve Months | ||||||||||||||||||||||||||
FY 2017 | FY 2017 | FY 2016 | Q/Q | Y/Y | FY 2017 | FY 2016 | Change Y/Y | |||||||||||||||||||||||||
Revenue - total | $ | 7,535 | $ | 6,852 | $ | 6,680 | 10.0 | % | 12.8 | % | $ | 27,463 | $ | 26,760 | 2.6 | % | ||||||||||||||||
Revenue - recurring | $ | 5,628 | $ | 5,054 | $ | 4,981 | 11.3 | % | 13.0 | % | $ | 20,895 | $ | 20,843 | 0.2 | % | ||||||||||||||||
Revenue - non-recurring | $ | 1,907 | $ | 1,798 | $ | 1,699 | 6.0 | % | 12.2 | % | $ | 6,568 | $ | 5,917 | 11.0 | % | ||||||||||||||||
Gross profit - total | $ | 3,973 | $ | 3,341 | $ | 3,296 | 18.9 | % | 20.5 | % | $ | 13,838 | $ | 13,791 | 0.3 | % | ||||||||||||||||
Gross profit - recurring | $ | 3,696 | $ | 3,277 | $ | 3,137 | 12.8 | % | 17.8 | % | $ | 13,878 | $ | 13,997 | (0.9 | %) | ||||||||||||||||
Gross profit/(loss) - non-recurring | $ | 277 | $ | 64 | $ | 159 | 332.9 | % | 74.2 | % | $ | (40 | ) | $ | (206 | ) | (80.6 | %) | ||||||||||||||
Gross margin - total | 52.7 | % | 48.8 | % | 49.3 | % | 3.9 pts | 3.4 pts | 50.4 | % | 51.5 | % | (1.1 pts | ) | ||||||||||||||||||
Gross margin - recurring | 65.7 | % | 64.8 | % | 63.0 | % | 0.9 pts | 2.7 pts | 66.4 | % | 67.2 | % | (0.8 pts | ) | ||||||||||||||||||
Gross margin - non recurring | 14.5 | % | 3.5 | % | 9.4 | % | 11.0 pts | 5.1 pts | (0.6 | %) | (3.5 | %) | 2.9 pts | |||||||||||||||||||
Net loss | $ | (1,708 | ) | $ | (2,193 | ) | $ | (4,808 | ) | (22.1 | %) | (64.5 | %) | $ | (9,452 | ) | $ | (14,021 | ) | (32.6 | %) | |||||||||||
EPS | $ | (0.14 | ) | $ | (0.18 | ) | $ | (0.42 | ) | $ | 0.04 | $ | 0.28 | $ | (0.81 | ) | $ | (1.34 | ) | $ | 0.53 |
FY2017 Non-GAAP Financial Highlights:
(in thousands, except per share amounts) | ||||||||||||||||||||||||||||||||
Non-GAAP Financial Measures | Q4 | Q3 | Q4 | Change | Change | Twelve Months | ||||||||||||||||||||||||||
FY 2017 | FY 2017 | FY 2016 | Q/Q | Y/Y | FY 2017 | FY 2016 | Change Y/Y | |||||||||||||||||||||||||
Revenue - total | $ | 7,535 | $ | 6,852 | $ | 6,696 | 10.0 | % | 12.5 | % | $ | 27,471 | $ | 27,005 | 1.7 | % | ||||||||||||||||
Revenue - recurring | $ | 5,628 | $ | 5,054 | $ | 4,997 | 11.3 | % | 12.6 | % | $ | 20,903 | $ | 21,018 | (0.5 | %) | ||||||||||||||||
Revenue - non-recurring | $ | 1,907 | $ | 1,798 | $ | 1,699 | 6.0 | % | 12.2 | % | $ | 6,568 | $ | 5,987 | 9.7 | % | ||||||||||||||||
Gross profit - total | $ | 4,297 | $ | 3,726 | $ | 3,660 | 15.3 | % | 17.4 | % | $ | 15,192 | $ | 15,337 | (0.9 | %) | ||||||||||||||||
Gross profit - recurring | $ | 3,967 | $ | 3,591 | $ | 3,419 | 10.5 | % | 16.0 | % | $ | 15,004 | $ | 15,156 | (1.0 | %) | ||||||||||||||||
Gross profit/(loss) - non-recurring | $ | 330 | $ | 135 | $ | 241 | 144.4 | % | 36.9 | % | $ | 188 | $ | 181 | 3.9 | % | ||||||||||||||||
Gross margin - total | 57.0 | % | 54.4 | % | 54.7 | % | 2.6 pts | 2.3 pts | 55.3 | % | 56.8 | % | (1.5 pts | ) | ||||||||||||||||||
Gross margin - recurring | 70.5 | % | 71.0 | % | 68.4 | % | (0.5 pts | ) | 2.1 pts | 71.8 | % | 72.1 | % | (0.3 pts | ) | |||||||||||||||||
Gross margin - non recurring | 17.3 | % | 7.5 | % | 14.1 | % | 9.8 pts | 3.2 pts | 2.9 | % | 3.0 | % | (0.1 pts | ) | ||||||||||||||||||
Net loss | $ | (428 | ) | $ | (1,010 | ) | $ | (2,245 | ) | (57.6 | %) | (80.9 | %) | $ | (4,681 | ) | $ | (6,830 | ) | (31.5 | %) | |||||||||||
EPS | $ | (0.04 | ) | $ | (0.08 | ) | $ | (0.20 | ) | $ | 0.04 | $ | 0.16 | $ | (0.40 | ) | $ | (0.65 | ) | $ | 0.25 | |||||||||||
Billings | $ | 7,582 | $ | 7,545 | $ | 8,027 | 0.5 | % | (5.5 | %) | $ | 27,177 | $ | 28,694 | (5.3 | %) |
"Fiscal 2017 was as a pivotal year in the history of our innovative company, in which we achieved on three key business objectives. First, we executed on our strategic plan to assimilate the people, processes and technical elements of the three legacy companies under a single, industry leading Source-to-Pay and Enterprise Contract Lifecycle Management brand. Second during this transition year, we undertook a comprehensive review and restructuring of our entire business, enabling us to significantly cut our Non-GAAP EBITDA loss from $5.9M in Fiscal 2016 to $1.8M in Fiscal 2017, while also modestly growing revenue. Finally, while reducing total expenses, we focused significant investments into our Product and R&D functions to deliver a truly integrated Source-to-Pay and Enterprise Contract Lifecycle Management Platform. Looking ahead, I am very pleased by the team's tremendous achievements last year -- and excited by the opportunity ahead as we position Determine for growth and profitability in fiscal 2018." -- Patrick Stakenas, President and CEO, Determine, Inc.
FY2017 Determine Business Highlights:
Conference Call and Webcast Thursday, June 8, 2017 at 5:00 PM (Eastern Time)
Participant Conference Call Numbers:
Toll-Free: 1-877-407-0789
Toll/International: 1-201-689-8562
Participant Webcast Link: http://public.viavid.com/index.php?id=124627
Replay Dial-in Information:
Toll-Free: 1-844-512-2921
Toll/International: 1-412-317-6671
From: 06/08/17 at 8:00 pm Eastern Time
To: 06/15/17 at 11:59 pm Eastern Time
Replay Pin Number: 13663128
Related: http://investor.determine.com
Non-GAAP Financial Measures
To supplement our financial results presented in accordance with Generally Accepted Accounting Principles (GAAP), this press release and the accompanying tables contain certain non-GAAP financial measures, including non-GAAP revenue, non-GAAP gross profit, non-GAAP net income and non-GAAP earnings per share, which we believe are helpful in understanding our past financial performance and future results. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, "GAAP to Non-GAAP Reconciliations". Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP.
The difference between GAAP and non-GAAP revenue is due to the impact of revaluing the deferred revenue balances acquired from primarily b-pack as required by GAAP purchase accounting.
The difference between GAAP and non-GAAP gross profit is the difference in GAAP versus non-GAAP revenues as well as the elimination of the amortization of acquisition related intangibles, stock based compensation and severance expense from the costs of revenue. Non-GAAP net loss excludes the non-GAAP gross profit items as well as acquisition related costs.
Our management regularly uses our supplemental non-GAAP financial measures internally to understand and manage our business and forecast future periods; as such, we believe it is useful for investors to understand the effects of these items on our total operations. Further, please note that our non-GAAP revenue is intended to reflect the full amount of revenues that would have been otherwise recorded by the acquired entities of Iasta and b-pack, while our non-GAAP gross profit also excludes the amortization of intangibles that occurred due to the acquisition of the entities of Iasta and b-pack.
Annualized Bookings are an operating measure not derived from the company's revenues or any other amounts presented in accordance with GAAP in the company's statement of income, balance sheet or statement of cash flows or other equivalent statements.
Forward-looking Statements
Certain statements in this release and elsewhere by Determine are forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements regarding business outlook, assessment of market conditions, anticipated financial and operating results, strategies, product and channel development, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to fluctuations in demand for Determine's products and services, risks of losing key personnel or customers, protection of the company's intellectual property and government policies and regulations, including, but not limited to those affecting the company's industry. Determine undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Additional risk factors concerning the company can be found in the company's most recent Form 10-K as filed by the company with the Securities and Exchange Commission.
Supporting Resources
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About Determine, Inc.
Determine, Inc. (
The Determine Cloud Platform seamlessly integrates with major ERP or third-party systems such as SAP, Oracle, Sage, QAD and Microsoft. Modular solutions can be configured to add more as needed to provide additional value beyond spend management. Our unified master database and business process approach empower users at every level to make more informed and smarter decisions.
For more information, please visit: www.determine.com.
Determine, Inc. | |||||||||||||||||
Condensed Consolidated Statements of Operations | |||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||
(Unaudited) | |||||||||||||||||
Three Months Ended | Twelve Months Ended | ||||||||||||||||
March 31, | March 31, | ||||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||||
Revenues: | |||||||||||||||||
Recurring revenues | $ | 5,628 | $ | 4,981 | $ | 20,895 | $ | 20,843 | |||||||||
Non-recurring revenues | 1,907 | 1,699 | 6,568 | 5,917 | |||||||||||||
Total revenues | 7,535 | 6,680 | 27,463 | 26,760 | |||||||||||||
Cost of revenues: | |||||||||||||||||
Cost of recurring revenues | 1,932 | 1,844 | 7,017 | 6,846 | |||||||||||||
Cost of non-recurring revenues | 1,630 | 1,540 | 6,608 | 6,123 | |||||||||||||
Total cost of revenues | 3,562 | 3,384 | 13,625 | 12,969 | |||||||||||||
Gross profit: | |||||||||||||||||
Recurring gross profit | 3,696 | 3,137 | 13,878 | 13,997 | |||||||||||||
Non-recurring profit (loss) | 277 | 159 | (40 | ) | (206 | ) | |||||||||||
Total gross profit | 3,973 | 3,296 | 13,838 | 13,791 | |||||||||||||
Operating expenses: | |||||||||||||||||
Research and development | 720 | 2,268 | 3,771 | 3,612 | |||||||||||||
Sales and marketing | 2,508 | 3,031 | 10,352 | 13,222 | |||||||||||||
General and administrative | 2,062 | 2,534 | 7,495 | 8,099 | |||||||||||||
Acquisition related costs | - | - | - | 912 | |||||||||||||
Impairment of software development costs | - | - | - | 1,368 | |||||||||||||
Restructuring costs | - | 451 | - | 451 | |||||||||||||
Total operating expenses | 5,290 | 8,284 | 21,618 | 27,664 | |||||||||||||
Loss from operations | (1,317 | ) | (4,988 | ) | (7,780 | ) | (13,873 | ) | |||||||||
Interest and other income (expense), net | (477 | ) | (155 | ) | (1,865 | ) | (700 | ) | |||||||||
Net loss before income tax | (1,794 | ) | (5,143 | ) | (9,645 | ) | (14,573 | ) | |||||||||
Benefit from income taxes | 86 | 333 | 229 | 545 | |||||||||||||
Consolidated net loss | (1,708 | ) | (4,810 | ) | $ | (9,416 | ) | $ | (14,028 | ) | |||||||
Net income (loss) attributed to non-controlling interest | - | 2 | (36 | ) | 7 | ||||||||||||
Net loss attributable to Determine, Inc | (1,708 | ) | (4,808 | ) | (9,452 | ) | (14,021 | ) | |||||||||
Redeemable preferred stock accretion | - | - | - | 1,120 | |||||||||||||
Net loss attributable to common stockholders | (1,708 | ) | (4,808 | ) | $ | (9,452 | ) | $ | (15,141 | ) | |||||||
Basic and diluted net loss per share | $ | (0.14 | ) | $ | (0.42 | ) | $ | (0.81 | ) | $ | (1.34 | ) |
Determine, Inc. | ||||||||||||||||
GAAP to Non-GAAP Reconciliations | ||||||||||||||||
(In thousands) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
Three Months Ended | Twelve Months Ended | |||||||||||||||
March 31, | March 31, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Reconciliation of total revenue: | ||||||||||||||||
U.S. GAAP as reported | $ | 7,535 | $ | 6,680 | $ | 27,463 | $ | 26,760 | ||||||||
Adjustments: | ||||||||||||||||
Deferred revenue adjustment | - | 16 | 8 | 245 | ||||||||||||
Non-GAAP Revenue | $ | 7,535 | $ | 6,696 | $ | 27,471 | $ | 27,005 | ||||||||
Reconciliation of gross profit: | ||||||||||||||||
U.S. GAAP as reported | $ | 3,973 | $ | 3,296 | $ | 13,838 | $ | 13,791 | ||||||||
Adjustments: | ||||||||||||||||
Deferred revenue adjustment | - | 16 | 8 | 244 | ||||||||||||
Amortization of acquisition | 249 | 253 | 1,007 | 883 | ||||||||||||
Stock based compensation | 74 | 78 | 314 | 366 | ||||||||||||
Severance | 1 | 17 | 25 | 53 | ||||||||||||
Non-GAAP gross profit | $ | 4,297 | $ | 3,660 | $ | 15,192 | $ | 15,337 | ||||||||
Reconciliation to non-GAAP net loss: | ||||||||||||||||
Net loss attributable to Determine, Inc | $ | (1,708 | ) | $ | (4,808 | ) | $ | (9,452 | ) | $ | (14,021 | ) | ||||
Stock-based compensation expense | 741 | 518 | 2,609 | 2,389 | ||||||||||||
Deferred revenue adjustment | - | 16 | 8 | 245 | ||||||||||||
Acquisition related costs | - | - | - | 912 | ||||||||||||
Amortization on intangibles | 525 | 561 | 2,119 | 1,934 | ||||||||||||
Benefit from income taxes | - | (424 | ) | (13 | ) | (637 | ) | |||||||||
Restructuring costs | - | 468 | - | 468 | ||||||||||||
Severance costs | 14 | 56 | 48 | 512 | ||||||||||||
Impairment of software development costs | - | 1,368 | - | 1,368 | ||||||||||||
Non-GAAP net loss | $ | (428 | ) | $ | (2,245 | ) | $ | (4,681 | ) | $ | (6,830 | ) | ||||
Non-GAAP basic and diluted net loss per share | $ | (0.04 | ) | $ | (0.20 | ) | $ | (0.40 | ) | $ | (0.65 | ) | ||||
Weighted average shares outstanding for basicand diluted net loss per share | 11,964 |
11,321 |
11,644 |
10,482 |
||||||||||||
Determine, Inc. | ||||||||||||||||
Condensed Consolidated Statements of Comprehensive Loss | ||||||||||||||||
(In thousands) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
Three Months Ended | Twelve Months Ended | |||||||||||||||
March 31, | March 31, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Consolidated Net loss | $ | (1,708 | ) | $ | (4,810 | ) | $ | (9,416 | ) | $ | (14,028 | ) | ||||
Foreign currency translation adjustments, net | (33 | ) | (105 | ) | (64 | ) | (116 | ) | ||||||||
Comprehensive loss | (1,741 | ) | (4,915 | ) | (9,480 | ) | (14,144 | ) | ||||||||
Less: Non controlling interest | - | 2 | (36 | ) | 7 | |||||||||||
Comprehensive loss attributable to Determine, Inc. | $ | (1,741 | ) | $ | (4,913 | ) | $ | (9,516 | ) | $ | (14,137 | ) |
Determine, Inc. | |||||||
Condensed Consolidated Balance Sheets | |||||||
(In thousands) | |||||||
March 31, | March 31, | ||||||
2017 | 2016 | ||||||
(Unaudited) | (Audited) | ||||||
ASSETS | |||||||
Current assets | |||||||
Cash and cash equivalents | $ | 9,429 | $ | 9,418 | |||
Accounts receivable | 7,042 | 7,031 | |||||
Restricted cash | 34 | 34 | |||||
Prepaid expenses and other current assets | 1,553 | 1,551 | |||||
Total current assets | 18,058 | 18,034 | |||||
Property and equipment, net | 85 | 136 | |||||
Capitalized software | 2,341 | 1,699 | |||||
Goodwill | 14,448 | 14,490 | |||||
Other intangibles, net | 5,860 | 8,011 | |||||
Other assets | 1,599 | 1,843 | |||||
Total assets | $ | 42,391 | $ | 44,213 | |||
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY | |||||||
Current liabilities | |||||||
Credit facility | $ | 11,861 | $ | 7,100 | |||
Accounts payable | 2,478 | 1,973 | |||||
Accrued payroll and related liabilities | 1,729 | 1,655 | |||||
Other accrued liabilities | 2,042 | 2,396 | |||||
COFACE loan | 174 | 407 | |||||
Deferred revenue | 10,070 | 10,299 | |||||
Income tax payable | 23 | 14 | |||||
Accrued restructuring | - | 403 | |||||
Total current liabilities | 28,377 | 24,247 | |||||
Long-term deferred revenue | 10 | 67 | |||||
Convertible note, net of debt discount | 7,599 | 5,420 | |||||
Other long-term liabilities | 1,306 | 3,282 | |||||
Deferred tax liability non current | - | 290 | |||||
Total liabilities | 37,292 | 33,306 | |||||
Redeemable convertible preferred stock | - | - | |||||
Total Determine, Inc. stockholders' equity | 5,099 | 10,794 | |||||
Non-controlling interest | - | 113 | |||||
Total equity | 5,099 | 10,907 | |||||
Total liabilities, redeemable convertible preferred stock and equity | $ | 42,391 | $ | 44,213 |
Determine, Inc. | |||||||||
Condensed Consolidated Statements of Cash Flows | |||||||||
(In thousands) | |||||||||
(Unudited) | |||||||||
Twelve Months Ended | |||||||||
March 31, | March 31, | ||||||||
2017 | 2016 | ||||||||
Operating activities | |||||||||
Net loss | $ | (9,416 | ) | $ | (14,028 | ) | |||
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||
Depreciation and amortization | 3,405 | 2,680 | |||||||
Gain on disposition of property and equipment | - | (13 | ) | ||||||
Deferred tax liability | (290 | ) | (46 | ) | |||||
Accrued restructuring costs | 403 | ||||||||
Impairment of capitalized software | - | 1,368 | |||||||
Stock-based compensation expense | 2,609 | 2,389 | |||||||
Noncash interest paid inkind as debt/equity | 225 | - | |||||||
Changes in assets and liabilities: | |||||||||
Accounts receivable (net) | (11 | ) | (154 | ) | |||||
Prepaid expenses and other current assets | 1 | 200 | |||||||
Other assets | 287 | (1,061 | ) | ||||||
Accounts payable | 505 | 199 | |||||||
Accrued restructuring | (403 | ) | - | ||||||
Accrued payroll and related liabilities | 74 | (202 | ) | ||||||
Other accrued liabilities and long term liabilities | (56 | ) | 1,265 | ||||||
Deferred revenue | (286 | ) | 1,066 | ||||||
Net cash used in operating activities | (3,356 | ) | (5,934 | ) | |||||
Investing activities | |||||||||
Purchase of property and equipment | (57 | ) | (6 | ) | |||||
Capitalized software | (1,829 | ) | (1,383 | ) | |||||
Minority shareholder payment | - | (133 | ) | ||||||
Purchase of business, net of cash | - | (826 | ) | ||||||
Net cash used in investing activities | (1,886 | ) | (2,348 | ) | |||||
Financing activities | |||||||||
Proceeds from sale of preferred stock with warrants, net of issuance costs | - | 260 | |||||||
Employee taxes paid in exchange for restricted stock awards forefeited | (132 | ) | (175 | ) | |||||
Issuance of common stock under employee stock plan | 140 | 171 | |||||||
Credit facility borrowing, net | 4,000 | - | |||||||
Credit facility payment | (1,139 | ) | (347 | ) | |||||
Repayment of a loan | (233 | ) | (47 | ) | |||||
Fees paid in connection with conversion of preferred stock to common stock | - | (17 | ) | ||||||
Issuance of convertible note, net | 2,429 | 4,786 | |||||||
Net cash provided by financing activities | 5,065 | 4,631 | |||||||
Effect of exchange rate changes on cash | 188 | (109 | ) | ||||||
Net increase (decrease) in cash and cash equivalents | 11 | (3,760 | ) | ||||||
Cash and cash equivalents at beginning of the period | 9,418 | 13,178 | |||||||
Cash and cash equivalents at end of the period | $ | 9,429 | $ | 9,418 | |||||
Determine, Inc. | ||||||||||||||||
Billings Reconciliation | ||||||||||||||||
(In thousands) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
Three Months Ended | Twelve Months Ended | |||||||||||||||
March 31, | March 31, | March 31, | March 31, | |||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Total revenues | $ | 7,535 | $ | 6,680 | $ | 27,463 | $ | 26,760 | ||||||||
Deferred revenue: | ||||||||||||||||
End of period | 10,080 | 10,366 | 10,080 | 10,366 | ||||||||||||
Beginning of period | 10,033 | 9,019 | 10,366 | 8,432 | ||||||||||||
Change in deferred revenue | 47 | 1,347 | (286 | ) | 1,934 | |||||||||||
Total billings (total revenues plus the change in deferred revenue) | $ | 7,582 | $ | 8,027 | $ | 27,177 | $ | 28,694 | ||||||||
Determine, Inc. | ||||||||||||||||
Non-GAAP EBITDA Reconciliation | ||||||||||||||||
(In thousands) | ||||||||||||||||
(unaudited) | ||||||||||||||||
Three Months Ended | Twelve Months Ended | |||||||||||||||
March 31, | March 31, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Reconciliation to non-GAAP EBITDA net income (loss): | ||||||||||||||||
Non-GAAP net loss | $ | (428 | ) | $ | (2,245 | ) | $ | (4,681 | ) | $ | (6,830 | ) | ||||
Interest | 472 | 324 | 1,771 | 694 | ||||||||||||
Depreciation | 379 | 249 | 1,295 | 746 | ||||||||||||
Income Taxes and Minority Shareholder | (86 | ) | (335 | ) | (193 | ) | (552 | ) | ||||||||
Non-GAAP EBITDA net income (loss) | $ | 337 | $ | (2,007 | ) | $ | (1,808 | ) | $ | (5,942 | ) | |||||
Contact Information:
Media Relations Contacts:
Rose Lee
Determine Inc.
+1.650.532.1590
pr@determine.com