Highlights
- Revenue increased 76% year-over-year to
$33.9 million
- GAAP operating loss was
$17.8 millionand non-GAAP operating loss was
$6.4 million
- Annualized dollar-based net expansion rate was 123%
- Launched Enterprise Elite for Mid-Market and Enterprise customers
SAN FRANCISCO--(BUSINESS WIRE)--
Zendesk, Inc.(NYSE: ZEN) today reported financial results for its third quarter ending
September 30, 2014.
"We continued to drive the democratization of customer service so that any organization, big or small, can build lasting relationships with its customers through Zendesk,” said
Mikkel Svane, founder, chairman, and CEO of
亚博
. "In the third quarter, we announced our dedicated Enterprise Team and an upgraded Enterprise Elite plan for the largest organizations, while introducing a beta of Zendesk Inbox as a separate tool for small teams to manage email together. Those launches show the broad flexibility and appeal of our customer service platform.”
Results for the Third Quarter 2014
Revenue was
$33.9 millionfor the quarter ended
September 30, 2014, an increase of 76% over the prior year period and an increase of 15% from the quarter ended
June 30, 2014.
GAAP net loss for the quarter ending
September 30, 2014was
$17.9 million, and GAAP net loss per share was
$0.25. Non-GAAP net loss was
$6.5 million, which excludes approximately
$10.9 millionin share-based compensation related expenses (including
$0.1 millionof amortized share-based compensation capitalized in internal-use software) and
$0.5 millionof amortization of purchased intangibles. Non-GAAP net loss per share was
$0.09. Zendesk’s GAAP and Non-GAAP net loss per share are based on 71.7 million weighted average shares outstanding.
Cash and cash equivalents were approximately
$80.4 millionand marketable securities were
$47.9 millionas of
September 30, 2014.
Outlook
As of
October 30, 2014,
亚博
updated its guidance as follows. For the fourth quarter of 2014,
亚博
expects to report:
- Revenue in the range of
$35.0 - 37.0 million.
- GAAP operating loss of
$18.5 - 19.5 million, which includes share-based compensation related expense of
$9.0 millionand amortization of intangibles of
$0.5 million.
- Non-GAAP operating loss of
$9.0 - 10.0 million, which excludes share-based compensation related expense of
$9.0 millionand amortization of intangibles of
$0.5 million.
For the full year 2014, the company expects to report:
- Revenue in the range of
$123.5 - 125.5 million.
- GAAP operating loss of
$67.4 - 68.4 million, which includes share-based compensation related expense of
$32.9 million, amortization of intangibles of
$1.5 million, and
$0.6 millionof acquisition-related expenses.
- Non-GAAP operating loss of
$32.4 - 33.4 million, which excludes share-based compensation related expense of approximately
$32.9 millionand amortization of intangibles of
$1.5 million, and
$0.6 millionof acquisition-related expenses.
Conference Call Information
亚博
will host a conference call today,
October 30, 2014, to discuss financial results at
2:00 p.m. Pacific Time,
5:00 p.m. Eastern Time. A live webcast of the conference call will be available athttps://investor.zendesk.com. The conference call can also be accessed by dialing 877-201-0168, or +1 647-788-4901 (outside the U.S. and
Canada). The conference ID is 19618194. A replay of the call via webcast will be available athttps://investor.zendesk.comor by dialing 855-859-2056 or +1 404-537-3406 (outside the U.S. and
Canada) and entering passcode 19618194. The dial-in replay will be available until the end of day
November 1, 2014. The webcast replay will be available for 12 months.
About
亚博
亚博
provides a customer service platform designed to bring organizations and their customers closer together. With more than 48,000 customer accounts,
亚博
is used by organizations in 150 countries and territories to provide support in more than 40 languages. Founded in 2007 and headquartered in
San Francisco,
亚博
has operations in
the United States,
Europe,
Asia,
Australiaand
南美. Learn more atwww.ying8.net
Forward-Looking Statements
This press release contains forward-looking statements, including, among other things, statements regarding Zendesk’s future financial performance, its re-investment to grow its business, progress towards its long-term financial objectives, and its current leadership team. The words such as “may,” “should,” “will,” “believe,” “expect,” “anticipate,” “target,” “project,” and similar phrases that denote future expectation or intent regarding Zendesk’s financial results, operations and other matters are intended to identify forward-looking statements. You should not rely upon forward-looking statements as predictions of future events.
The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause Zendesk’s actual results, performance, or achievements to differ materially, including (i) adverse changes in general economic or market conditions; (ii) Zendesk’s ability to adapt its customer service platform to changing market dynamics and customer preferences or achieve increased market acceptance of its platform; (iii) Zendesk’s expectation that the future growth rate of its revenues will decline, and that as its costs increase,
亚博
may not be able to generate sufficient revenues to achieve or sustain profitability; (iv) Zendesk’s limited operating history, which makes it difficult to evaluate its prospects and future operating results; (v) Zendesk’s ability to effectively manage its growth and organizational change; (vi) the market in which
亚博
operates is intensely competitive, and
亚博
may not compete effectively; (vii) the development of the market for software as a service business software applications; (viii) Zendesk’s ability to sell its live chat software as a standalone service and more fully integrate its live chat software with its customer service platform; (ix) breaches in Zendesk’s security measures or unauthorized access to its customers’ data; (x) service interruptions or performance problems associated with Zendesk’s technology and infrastructure; (xi) real or perceived errors, failures, or bugs in its products; (xii) Zendesk’s substantial reliance on its customers renewing their subscriptions and purchasing additional subscriptions; and (xiii) Zendesk’s ability to effectively expand its sales capabilities.
The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in Zendesk’s filings with the
Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended
June 30, 2014. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that
亚博
makes with the
Securities and Exchange Commission不时地,包括its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2014.
Forward-looking statements represent Zendesk’s management’s beliefs and assumptions only as of the date such statements are made.
亚博
undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Condensed Consolidated Statements of Operations |
(In thousands, except per share data; unaudited) |
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
$ |
33,910 |
|
|
$ |
19,237 |
|
|
$ |
88,508 |
|
|
$ |
49,544 |
|
Cost of revenue |
|
|
11,684 |
|
|
|
6,327 |
|
|
|
32,410 |
|
|
|
16,878 |
|
Gross profit |
|
|
22,226 |
|
|
|
12,910 |
|
|
|
56,098 |
|
|
|
32,666 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
9,550 |
|
|
|
3,860 |
|
|
|
25,227 |
|
|
|
10,737 |
|
Sales and marketing |
|
|
21,548 |
|
|
|
10,015 |
|
|
|
56,174 |
|
|
|
26,218 |
|
General and administrative |
|
|
8,940 |
|
|
|
3646年 |
|
|
|
23,639 |
|
|
|
11,744 |
|
Total operating expenses |
|
|
40,038 |
|
|
|
17日,521 |
|
|
|
105,040 |
|
|
|
48,699 |
|
Operating loss |
|
|
(17,812 |
) |
|
|
(4,611 |
) |
|
|
(48,942 |
) |
|
|
(16033 |
) |
Other expense, net |
|
|
(343 |
) |
|
|
(102 |
) |
|
|
(1,252 |
) |
|
|
(312 |
) |
Loss before provision for income taxes |
|
|
(18,155 |
) |
|
|
(4,713 |
) |
|
|
(50,194 |
) |
|
|
(16,345 |
) |
Provision for (benefit from) income taxes |
|
|
(236 |
) |
|
|
42 |
|
|
|
(272 |
) |
|
|
120 |
|
Net loss |
|
|
(17,919 |
) |
|
|
(4,755 |
) |
|
|
(49,922 |
) |
|
|
(16,465 |
) |
Accretion of redeemable convertible preferred stock |
|
|
— |
|
|
|
(12 |
) |
|
|
(18 |
) |
|
|
(36 |
) |
Net loss attributable to common stockholders |
|
$ |
(17,919 |
) |
|
$ |
(4,767 |
) |
|
$ |
(49,940 |
) |
|
$ |
(16,501 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share attributable to common stockholders, basic and diluted |
|
$ |
(0.25 |
) |
|
$ |
(0.22 |
) |
|
$ |
(1.08 |
) |
|
$ |
(0.77 |
) |
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted |
|
|
71,732 |
|
|
|
22,024 |
|
|
|
46,153 |
|
|
|
21,486 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Balance Sheets (In thousands, except par value; unaudited) |
|
|
|
|
|
|
|
|
|
September 30, |
|
|
December 31, |
|
|
|
2014 |
|
|
2013 |
|
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
80,436 |
|
|
$ |
53,725 |
|
Marketable securities |
|
|
29,858 |
|
|
|
9,889 |
|
Accounts receivable, net of allowance for doubtful accounts of $355 and $282, respectively |
|
|
12,858 |
|
|
|
7,237 |
|
Prepaid expenses and other current assets |
|
|
5,255 |
|
|
|
3,008 |
|
Total current assets |
|
|
128,407 |
|
|
|
73,859 |
|
Marketable securities, noncurrent |
|
|
18,007 |
|
|
|
2,225 |
|
Property and equipment, net |
|
|
40,864 |
|
|
|
15,431 |
|
Goodwill and intangible assets, net |
|
|
15,158 |
|
|
|
— |
|
Other assets |
|
|
1,545 |
|
|
|
1,221 |
|
Total assets |
|
$ |
203,981 |
|
|
$ |
92,736 |
|
|
|
|
|
|
|
|
|
|
Liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit) |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
5501年 |
|
|
$ |
3,988 |
|
Accrued liabilities |
|
|
10,224 |
|
|
|
4,737 |
|
Accrued compensation and related benefits |
|
|
9,661 |
|
|
|
4,226 |
|
Deferred revenue |
|
|
45,412 |
|
|
|
28,473 |
|
Current portion of credit facility |
|
|
3,022 |
|
|
|
365 |
|
Current portion of capital leases |
|
|
103 |
|
|
|
364 |
|
Total current liabilities |
|
|
73,923 |
|
|
|
42,153 |
|
Deferred revenue, noncurrent |
|
|
1,219 |
|
|
|
575 |
|
Credit facility, noncurrent |
|
|
4,678 |
|
|
|
23,395 |
|
Other liabilities |
|
|
9,539 |
|
|
|
1,520 |
|
Total liabilities |
|
|
89,359 |
|
|
|
67,643 |
|
|
|
|
|
|
|
|
|
|
Redeemable convertible preferred stock, par value $0.01 per share |
|
|
— |
|
|
|
71,369 |
|
Stockholders’ equity (deficit): |
|
|
|
|
|
|
|
|
Preferred stock, par value $0.01 per share |
|
|
— |
|
|
|
— |
|
Common stock, par value $0.01 per share |
|
|
721 |
|
|
|
229 |
|
Additional paid-in capital |
|
|
228,968 |
|
|
|
18,591 |
|
Accumulated other comprehensive income |
|
|
(39 |
) |
|
|
10 |
|
Accumulated deficit |
|
|
(114,376 |
) |
|
|
(64,454 |
) |
Treasury stock at cost |
|
|
(652 |
) |
|
|
(652 |
) |
Total stockholders’ equity (deficit) |
|
|
114,622 |
|
|
|
(46,276 |
) |
Total liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit) |
|
$ |
203,981 |
|
|
$ |
92,736 |
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of Cash Flows (In thousands; unaudited) |
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
|
2014 |
|
|
2013 |
|
Cash flows from operating activities |
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(17,919 |
) |
|
$ |
(4,755 |
) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
3,169 |
|
|
|
1,426 |
|
Share-based compensation |
|
|
10,818 |
|
|
|
874 |
|
Other |
|
|
153 |
|
|
|
124 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Accounts receivable |
|
|
(3,247 |
) |
|
|
(2,090 |
) |
Prepaid expenses and other current assets |
|
|
657 |
|
|
|
(681 |
) |
Other assets and liabilities |
|
|
831 |
|
|
|
(80 |
) |
Accounts payable |
|
|
1,126 |
|
|
|
551 |
|
Accrued liabilities |
|
|
50 |
|
|
|
89 |
|
Accrued compensation and related benefits |
|
|
1,789 |
|
|
|
1,035 |
|
Deferred revenue |
|
|
7,643 |
|
|
|
4,592 |
|
Net cash provided by operating activities |
|
|
5,070 |
|
|
|
1,085 |
|
Cash flows from investing activities |
|
|
|
|
|
|
|
|
Purchases of property and equipment |
|
|
(6,024 |
) |
|
|
(1,671 |
) |
Internal-use software development costs |
|
|
(2,353 |
) |
|
|
(1,212 |
) |
Purchases of marketable securities |
|
|
(36542 |
) |
|
|
— |
|
Proceeds from maturities of marketable securities |
|
|
700 |
|
|
|
— |
|
Net cash used in investing activities |
|
|
(44,219 |
) |
|
|
(2,883 |
) |
Cash flows from financing activities |
|
|
|
|
|
|
|
|
Initial public offering related issuance costs |
|
|
(1,267 |
) |
|
|
— |
|
Proceeds from exercise of employee stock options |
|
|
1,719 |
|
|
|
395 |
|
Principal payments on debt |
|
|
— |
|
|
|
1,000 |
|
Tax paid related to net share settlement of equity awards |
|
|
(781 |
) |
|
|
— |
|
Principal payments on capital lease obligations |
|
|
(92 |
) |
|
|
(85 |
) |
Net cash provided by (used in) financing activities |
|
|
(421 |
) |
|
|
1,310 |
|
汇率的影响hanges on cash and cash equivalents |
|
|
(48 |
) |
|
|
(24 |
) |
Net decrease in cash and cash equivalents |
|
|
(39,618 |
) |
|
|
(512 |
) |
Cash and cash equivalents at the beginning of period |
|
|
120,054 |
|
|
|
29,878 |
|
Cash and cash equivalents at the end of period |
|
$ |
80,436 |
|
|
$ |
29,366 |
|
|
|
|
|
|
|
|
|
|
Non-GAAP Results |
(In thousands, except per share data) |
|
The following table shows Zendesk’s GAAP results reconciled to non-GAAP results included in this release. |
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
Reconciliation of gross profit and gross margin: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP gross profit |
|
$ |
22,226 |
|
|
$ |
12,910 |
|
|
$ |
56,098 |
|
|
$ |
32,666 |
|
Plus: Share-based compensation |
|
|
591 |
|
|
|
77 |
|
|
|
1,691 |
|
|
|
177 |
|
Plus: Amortization of purchased intangibles |
|
|
381 |
|
|
|
— |
|
|
|
799 |
|
|
|
— |
|
Plus: Amortization of share-based compensation capitalized in internal-use software |
|
|
103 |
|
|
|
17 |
|
|
|
270 |
|
|
|
45 |
|
Non-GAAP gross profit |
|
$ |
23,301 |
|
|
$ |
13,004 |
|
|
$ |
58,858 |
|
|
$ |
32,888 |
|
GAAP gross margin |
|
|
66 |
% |
|
|
67 |
% |
|
|
63 |
% |
|
|
66 |
% |
Non-GAAP adjustments |
|
|
3 |
% |
|
|
1 |
% |
|
|
4 |
% |
|
|
0 |
% |
Non-GAAP gross margin |
|
|
69 |
% |
|
|
68 |
% |
|
|
67 |
% |
|
|
66 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
和解的营业费用: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP research and development |
|
$ |
9,550 |
|
|
$ |
3,860 |
|
|
$ |
25,227 |
|
|
$ |
10,737 |
|
Less: Share-based compensation |
|
|
(3,052 |
) |
|
|
(196 |
) |
|
|
(7,530 |
) |
|
|
(422 |
) |
Non-GAAP research and development |
|
$ |
6,498 |
|
|
$ |
3,664 |
|
|
$ |
17,697 |
|
|
$ |
10315年 |
|
GAAP research and development as percentage of revenue |
|
|
28 |
% |
|
|
20 |
% |
|
|
29 |
% |
|
|
22 |
% |
Non-GAAP research and development as percentage of revenue |
|
|
19 |
% |
|
|
19 |
% |
|
|
20 |
% |
|
|
21 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP sales and marketing |
|
$ |
21,548 |
|
|
$ |
10,015 |
|
|
$ |
56,174 |
|
|
$ |
26,218 |
|
Less: Share-based compensation |
|
|
(4,877 |
) |
|
|
(338 |
) |
|
|
(8,635 |
) |
|
|
(726 |
) |
Less: Amortization of purchased intangibles |
|
|
(99 |
) |
|
|
— |
|
|
|
(207 |
) |
|
|
— |
|
Non-GAAP sales and marketing |
|
$ |
16,572 |
|
|
$ |
9,677 |
|
|
$ |
47,332 |
|
|
$ |
25,492 |
|
GAAP sales and marketing as percentage of revenue |
|
|
64 |
% |
|
|
52 |
% |
|
|
63 |
% |
|
|
53 |
% |
Non-GAAP sales and marketing as percentage of revenue |
|
|
49 |
% |
|
|
50 |
% |
|
|
53 |
% |
|
|
51 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP general and administrative |
|
$ |
8,940 |
|
|
$ |
3646年 |
|
|
$ |
23,639 |
|
|
$ |
11,744 |
|
Less: Share-based compensation |
|
|
(2,298 |
) |
|
|
(264 |
) |
|
|
(5,769 |
) |
|
|
(2,419 |
) |
Less: Transaction costs related to acquisition |
|
|
— |
|
|
|
— |
|
|
|
(649 |
) |
|
|
— |
|
Non-GAAP general and administrative |
|
$ |
6,642 |
|
|
$ |
3,382 |
|
|
$ |
17,221 |
|
|
$ |
9,325 |
|
GAAP general and administrative as percentage of revenue |
|
|
26 |
% |
|
|
19 |
% |
|
|
27 |
% |
|
|
24 |
% |
Non-GAAP general and administrative as percentage of revenue |
|
|
20 |
% |
|
|
18 |
% |
|
|
19 |
% |
|
|
19 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of operating loss and operating margin: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP operating loss |
|
$ |
(17,812 |
) |
|
$ |
(4,611 |
) |
|
$ |
(48,942 |
) |
|
$ |
(16033 |
) |
Plus: Share-based compensation |
|
|
10,818 |
|
|
|
875 |
|
|
|
23,625 |
|
|
|
3,744 |
|
Plus: Amortization of purchased intangibles |
|
|
480 |
|
|
|
— |
|
|
|
1,006 |
|
|
|
— |
|
Plus: Transaction costs related to acquisition |
|
|
— |
|
|
|
— |
|
|
|
649 |
|
|
|
— |
|
Plus: Amortization of share-based compensation capitalized in internal-use software |
|
|
103 |
|
|
|
17 |
|
|
|
270 |
|
|
|
45 |
|
Non-GAAP operating loss |
|
$ |
(6,411 |
) |
|
$ |
(3,719 |
) |
|
$ |
(23,392 |
) |
|
$ |
(12,244 |
) |
GAAP operating margin |
|
|
(53 |
%) |
|
|
(24 |
%) |
|
|
(55 |
%) |
|
|
(32 |
%) |
Non-GAAP adjustments |
|
|
34 |
% |
|
|
5 |
% |
|
|
29 |
% |
|
|
7 |
% |
Non-GAAP operating margin |
|
|
(19 |
%) |
|
|
(19 |
%) |
|
|
(26 |
%) |
|
|
(25 |
%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of net loss attributable to common stockholders: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net loss attributable to common stockholders |
|
$ |
(17,919 |
) |
|
$ |
(4,767 |
) |
|
$ |
(49,940 |
) |
|
$ |
(16,501 |
) |
Plus: Share-based compensation |
|
|
10,818 |
|
|
|
875 |
|
|
|
23,625 |
|
|
|
3,744 |
|
Plus: Amortization of purchased intangibles |
|
|
480 |
|
|
|
— |
|
|
|
1,006 |
|
|
|
— |
|
Plus: Transaction costs related to acquisition |
|
|
— |
|
|
|
— |
|
|
|
649 |
|
|
|
— |
|
Plus: Amortization of share-based compensation capitalized in internal-use software |
|
|
103 |
|
|
|
17 |
|
|
|
270 |
|
|
|
45 |
|
Non-GAAP net loss attributable to common stockholders |
|
$ |
(6,518 |
) |
|
$ |
(3,875 |
) |
|
$ |
(24,390 |
) |
|
$ |
(12,712 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of net loss per share attributable to common stockholders, basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
公认会计准则每股净亏损归因于共同停止ckholders, basic and diluted |
|
$ |
(0.25 |
) |
|
$ |
(0.22 |
) |
|
$ |
(1.08 |
) |
|
$ |
(0.77 |
) |
Non-GAAP adjustments to net loss |
|
|
0.16 |
|
|
|
0.04 |
|
|
|
0.55 |
|
|
|
0.18 |
|
Non-GAAP adjustment to weighted-average shares used to compute net loss per share |
|
|
— |
|
|
|
0.11 |
|
|
|
0.15 |
|
|
|
0.36 |
|
Non-GAAP net loss per share attributable to common stockholders, basic and diluted |
|
$ |
(0.09 |
) |
|
$ |
(0.07 |
) |
|
$ |
(0.38 |
) |
|
$ |
(0.23 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of weighted-average shares used to compute net loss per share attributable to common stockholders: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted |
|
|
71,732 |
|
|
|
22,024 |
|
|
|
46,153 |
|
|
|
21,486 |
|
Conversion of preferred stock |
|
|
— |
|
|
|
34,323 |
|
|
|
17,602 |
|
|
|
34,323 |
|
Non-GAAP weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted |
|
|
71,732 |
|
|
|
56,347 |
|
|
|
63,755 |
|
|
|
55,809 |
|
About Non-GAAP Financial Measures
To provide investors and others with additional information regarding Zendesk’s results, the following non-GAAP financial measures were disclosed: non-GAAP gross profit and gross margin, non-GAAP operating expenses, non-GAAP operating loss and operating margin, non-GAAP net loss attributable to common stockholders, non-GAAP net loss per share attributable to common stockholders, basic and diluted, and non-GAAP weighted-average shares.
Specifically,
亚博
excludes the following from its historical and prospective non-GAAP financial measures, as applicable:
Share-based Compensation and Amortization of Share-based Compensation Capitalized in Internal-use Software:
亚博
utilizes share-based compensation to attract and retain employees. It is principally aimed at aligning their interests with those of its stockholders and at long-term retention, rather than to address operational performance for any particular period. As a result, share-based compensation expenses vary for reasons that are generally unrelated to financial and operational performance in any particular period.
Amortization of Purchased Intangibles and Acquisition Related Expenses:
亚博
views amortization of purchased intangible assets, including the amortization of the cost associated with an acquired entity’s developed technology, as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are evaluated for impairment regularly, amortization of the cost of purchased intangibles is an expense that is not typically affected by operations during any particular period.
亚博
views acquisition related expenses as events that are not necessarily reflective of operational performance during a period. In particular,
亚博
believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods which may or may not include such expenses.
As a result of Zendesk’s initial public offering, all outstanding shares of redeemable convertible preferred stock were automatically converted into shares of common stock. Consequently, the non-GAAP weighted-average shares outstanding used to compute non-GAAP net loss per share assumes that the conversion of
Zendesk'sredeemable convertible preferred stock that occurred in connection with its initial public offering occurred at the beginning of the relevant period.
亚博
believes this facilitates comparison with prior periods.
亚博
uses non-GAAP financial information to evaluate its ongoing operations and for internal planning and forecasting purposes.
Zendesk'smanagement does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.
亚博
presents such non-GAAP financial measures in reporting its financial results to provide investors with an additional tool to evaluate
Zendesk'soperating results.
亚博
believes these non-GAAP financial measures are useful because they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making. This allows investors and others to better understand and evaluate Zendesk’s operating results and future prospects in the same manner as management.
Zendesk'smanagement believes it is useful for itself and investors to review, as applicable, both GAAP information that may include items such as share-based compensation expense, amortization of share based compensation capitalized in internal-use software, amortization of purchased intangibles, transaction costs related to acquisitions, and the non-GAAP measures that exclude such information in order to assess the performance of
Zendesk'sbusiness and for planning and forecasting in subsequent periods. Whenever
亚博
uses such a non-GAAP financial measure, it provides a reconciliation of the non-GAAP financial measure to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measure as detailed above.
About Key Operating Metrics
亚博
reviews a number of key operating metrics, including the number of customer accounts and annualized dollar-based net expansion rate, to evaluate its business, measure performance, identify trends, formulate business plans, and make strategic decisions.
亚博
最后定义了客户账户的数量of any particular period as the number of accounts on our customer service platform, exclusive of free trials or other free services, at the end of the period as identified by a unique account identifier. Zendesk’s annualized dollar-based net expansion rate provides a measurement of its ability to increase revenue across our existing customer base through expansion of authorized agents associated with a customer account, and upgrades in subscription plan, as offset by churn, contraction in authorized agents associated with a customer account, and downgrades in subscription plans. Zendesk’s annualized dollar-based net expansion rate is based upon “monthly recurring revenue” for a set of customer accounts. Monthly recurring revenue for a customer account is a legal and contractual determination made by assessing the contractual terms of each customer account, as of the date of determination, as to the revenue
亚博
expects to generate in the next monthly period for that customer account, assuming no changes to the subscription and without taking into account any one-time discounts, if any, that may be applicable to such subscription. Monthly recurring revenue is not determined by reference to historical revenue, deferred revenue or any other
United Statesgenerally accepted accounting principles, or GAAP, financial measure over any period. It is forward-looking and contractually derived as of the date of determination. For a detailed description of how
亚博
calculates its annualized dollar-based net expansion rate, please refer to Zendesk’s periodic reports as filed with the
Securities and Exchange Commission.
亚博
does not currently incorporate operating metrics associated with Zopim live chat software into its measurement of customer accounts or annualized dollar-based net expansion rate.
Source:
Zendesk, Inc.
Source:
Zendesk, Inc.