RIGHTNOW TECHNOLOGIES INC - FORM 8-K - EX-99.2

Attached files

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8-K - FORM 8-K - RIGHTNOW TECHNOLOGIES INC	c62776e8vk.htm
EX-99.1 - EX-99.1 - RIGHTNOW TECHNOLOGIES INC	c62776exv99w1.htm

Exhibit 99.2

Supplemental Data Sheet

Unaudited
Last updated February 2, 2011


	Amounts in thousands (except customers, interactions and employees)
	Q1			Q2			Q3			Q4			FY			Q1			Q2			Q3			Q4			YTD			Q1			Q2			Q3			Q4			YTD
	2008			2008			2008			2008			2008			2009			2009			2009			2009			2009			2010			2010			2010			2010			2010
Revenue
Revenue		32,898			35,221			36,237			36,079			140,435			36,037			36,340			38,731			41,579			152,687			42,102			43,454			48,593			51,373			185,522
YoY Growth		28	%		33	%		24	%		18	%		25	%		10	%		3	%		7	%		15	%		9	%		17	%		20	%		25	%		24	%		22	%
Recurring Revenue		24,412			25,459			25,917			26,476			102,264			25,955			27,393			29,741			32,161			115,250			33,025			34,730			38,613			40,977			147,345
YoY Growth		27	%		25	%		19	%		12	%		20	%		6	%		8	%		15	%		21	%		13	%		27	%		27	%		30	%		27	%		28	%
Pro Service Revenue		8,342			9,648			10,281			9,588			37,859			9,992			8,916			8,977			9,407			37,292			9,077			8,724			9,980			10,396			38,177
YoY Growth		42	%		67	%		49	%		46	%		51	%		20	%		-8	%		-13	%		-2	%		-1	%		-9	%		-2	%		11	%		11	%		2	%

North America Revenue %		67	%		67	%		70	%		74	%		69	%		75	%		72	%		72	%		71	%		72	%		71	%		70	%		69	%		66	%		69	%
EMEA Revenue %		25	%		25	%		22	%		19	%		23	%		18	%		19	%		19	%		19	%		19	%		19	%		19	%		19	%		20	%		19	%
APAC Revenue %		8	%		8	%		8	%		7	%		8	%		7	%		9	%		9	%		10	%		9	%		10	%		11	%		12	%		14	%		12	%

Bookings Metrics
Total Bookings		37,112			43,416			39,037			46,215			165,780			23,746			48,653			51,733			55,527			179,659			60,449			63,547			85,235			96,241			305,472
% of Bookings Billed in Quarter		72	%		74	%		76	%		77	%					75	%		55	%		60	%		54	%					40	%		40	%		37	%		30	%
Average Term (months)		21			20			19			21			20			19			27			21			25			23			32			31			37			32			33

Total Backlog		138,629			147,052			145,088			150,872						138,000			152,424			166,305			179,892						196,225			211,911			252,338			295,830
Current Backlog		88,419			95,498			95,044			101,995						96,546			103,984			115,944			121,275						120,606			121,011			134,174			148,619
Non-Current Backlog		50,210			51,554			50,044			48,877						41,454			48,440			50,361			58,617						75,619			90,900			118,164			147,211
Current Portion of Software Backlog		69,737			75,766			77,478			84,103						82,186			89,138			96,650			104,983						103,264			106,275			117,628			134,004

Average Selling Price (ASP)		90			107			98			96			98			74			99			112			95			102			91			95			105			126			105
Deal Size Distribution
> $1M		4			6			4			7			21			1			10			7			8			26			14			11			17			18			60
$100K-$1M		73			86			76			91			326			59			60			83			90			292			91			106			112			129			438
<$100K		464			470			528			527			1,989			443			421			388			435			1,687			423			436			436			434			1,729

Top 5 industry sales-TTM
High-Tech		18	%		21	%		22	%		23	%					21	%		21	%		22	%		20	%					22	%		22	%		22	%		21	%
Public Sector		13	%		12	%		12	%		14	%					14	%		15	%		18	%		16	%					15	%		17	%		22	%		20	%
Retail/CPG		14	%		15	%		15	%		14	%					15	%		14	%		13	%		15	%					15	%		15	%		13	%		13	%
Entertainment/Media		4	%		5	%		6	%		6	%					6	%		12	%		10	%		11	%					10	%		8	%		13	%		13	%
Telecom		19	%		15	%		13	%		13	%					12	%		10	%		13	%		16	%					15	%		15	%		12	%		10	%
All other		32	%		32	%		32	%		30	%					32	%		28	%		24	%		22	%					23	%		23	%		18	%		23	%

Margin & Earnings Metrics (Non-GAAP)*
Gross Margin %		63	%		64	%		64	%		67	%		64	%		67	%		70	%		71	%		70	%		70	%		69	%		70	%		71	%		73	%		71	%
Software Margin %		80	%		81	%		80	%		81	%		80	%		81	%		82	%		83	%		82	%		82	%		83	%		83	%		85	%		86	%		84	%
Professional Services Margin %		15	%		21	%		22	%		26	%		21	%		31	%		31	%		31	%		28	%		30	%		20	%		17	%		17	%		21	%		19	%
Operating expense as % of Revenue		72	%		69	%		65	%		63	%		67	%		60	%		63	%		61	%		62	%		62	%		63	%		61	%		58	%		59	%		60	%
Operating Margin %		-9	%		-5	%		-1	%		4	%		-3	%		7	%		7	%		10	%		8	%		8	%		6	%		9	%		13	%		14	%		11	%
Operating Margin		(2,976	)		(1,759	)		(444	)		1,267			(3,912	)		2,531			2,510			3,693			3,408			12,142			2,490			3,987			6,336		$	7,245			20,058
Non-GAAP EPS (Diluted)	$	(0.06	)	$	(0.04	)	$	—		$	0.06		$	(0.04	)	$	0.09		$	0.09		$	0.12		$	0.10		$	0.39		$	0.07		$	0.09		$	0.15		$	0.17		$	0.49

Other Metrics
Headcount		718			765			777			737			737			742			756			792			797			797			836			871			887			920			920
New Customer		64			73			68			59			264			26			53			82	**		51			212			46			38			66			53			203
Interactions (in millions)		463			477			576			583			2,099			584			586			620			704			2,494			765			801			786			811			3,163


*		Excludes stock-based compensation (sbc), Q4’10 excludes sbc and $19.73M deferred tax asset valuation allowance reversal; Q4’09 excludes sbc and $1M settlement gain

**		Q3’09 customer count includes acquired customers from HiveLive acquisition

Note: The supplemental data sheet refers to certain non-GAAP financial results. Please refer to our reconciliations of GAAP, which can be found in our Company’s earnings release(s), which is posted on the Investor Relations portion of our website.

Consolidated Balance Sheets

Unaudited
Last updated February 2, 2011


	Amounts in thousands
	Mar 31,			Jun 30,			Sep 30,			Dec 31,			Mar 31,			Jun 30,			Sep 30,			Dec 31,			Mar 31,			Jun 30,			Sep 30,			Dec 31,
	2008			2008			2008			2008			2009			2009			2009			2009			2010			2010			2010			2010
Assets
Current assets:
Cash and cash equivalents		44,591			52,781			51,145			51,405			51,462			46,987			32,388			41,546			43,114			61,212			77,728			181,948
Short-term investments		36,585			41,540			46,444			34,412			36,517			42,808			60,634			54,977			55,293			38,228			31,287			94,759
Accounts receivable		27,503			26,722			27,820			36,770			24,220			31,670			31,034			31,850			29,723			33,020			36,367			39,037
Term receivables		9,616			8,814			6,875			5,752			4,810			4,107			3,011			2,417			1,762			1,271			371			301
Less allowance for doubtful accounts		(2,056	)		(2,177	)		(2,148	)		(2,277	)		(1,901	)		(1,910	)		(1,701	)		(1,914	)		(1,794	)		(1,697	)		(1,867	)		(2,021	)
Prepaid & other current assets		6,773			7,082			7,497			7,531			7,593			7,815			8,689			8,828			9,620			9,178			8,816			10,080
Deferred tax assets		—			—			—			—			—			—			—			—			—			—			—			3,801

Total current assets		123,012			134,762			137,633			133,593			122,701			131,477			134,055			137,704			137,718			141,212			152,702			327,905

Long-term investments		17,810			11,925			4,612			4,963			4,980			4,792			—			—			—			—			—			—
Property and equipment, net		10,807			10,798			10,377			10,141			9,187			9,775			9,781			10,122			10,154			10,850			11,063			10,702
Term receivables, noncurrent		8,059			5,728			4,420			3,547			2,804			2,159			1,447			1,105			810			537			82			14
Deferred tax asset, noncurrent		—			—			—			—			—			—			—			—			—			—			—			16,480
Intangible and other assets, net		10,016			10,025			10,268			10,093			9,274			9,379			14,991			15,504			16,181			17,270			18,342			23,778

Total assets		169,704			173,238			167,310			162,337			148,946			157,582			160,274			164,435			164,863			169,869			182,189			378,879


Liabilities, Preferred Stock and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued liabilities		18,146			17,919			17,405			16,223			14,309			17,847			16,601			16,573			19,967			22,013			23,425			23,826
Commissions and bonuses payable		3,531			4,279			4,351			5,665			3,084			4,958			4,838			6,271			4,964			4,597			6,142			7,137
Current portion of long-term debt		44			44			45			46			46			45			34			22			10			—			—			—
Deferred revenue		77,410			83,625			81,959			85,416			78,755			85,176			89,161			88,603			86,395			86,933			88,669			90,350

Total current liabilities		99,131			105,867			103,760			107,350			96,194			108,026			110,634			111,469			111,336			113,543			118,236			121,313

Deferred revenue, noncurrent		34,244			32,357			27,250			27,782			24,452			18,908			14,780			12,724			9,300			7,894			5,394			2,969
Long-term debt		57			45			34			22			10			—			—			—			—			—			—			175,000

Stockholders’ equity (deficit):
Common stock		34			34			34			34			34			34			34			34			34			34			34			35
Additional paid-in capital		97,107			99,187			101,337			102,662			104,345			107,281			109,394			112,439			115,680			118,652			125,416			136,717
Treasury stock, at cost		—			—			—			(13,209	)		(15,007	)		(15,007	)		(15,007	)		(15,007	)		(15,007	)		(15,007	)		(15,007	)		(29,149	)
Other comprehensive income (loss)		(536	)		(787	)		(193	)		1,916			1,875			1,260			1,394			1,125			1,284			1,113			1,581			1,953
Accumulated deficit		(60,333	)		(63,465	)		(64,912	)		(64,220	)		(62,957	)		(62,920	)		(60,955	)		(58,349	)		(57,764	)		(56,360	)		(53,465	)		(29,959	)

Total stockholders’ equity		36,272			34,969			36,266			27,183			28,290			30,648			34,860			40,242			44,227			48,432			58,559			79,597

Total liabilities, preferred stock and stockholders’ equity		169,704			173,238			167,310			162,337			148,946			157,582			160,274			164,435			164,863			169,869			182,189			378,879

Consolidated Statements of Operations

Unaudited
Last updated February 2, 2011


	2008															2009															2010
	Q1			Q2			Q3			Q4			YTD			Q1			Q2			Q3			Q4			YTD			Q1			Q2			Q3			Q4			YTD
Revenue:
Software, hosting and support		24,556			25,573			25,956			26,491			102,576			26,045			27,424			29,754			32,172			115,395			33,025			34,730			38,613			40,977			147,345
Professional services		8,342			9,648			10,281			9,588			37,859			9,992			8,916			8,977			9,407			37,292			9,077			8,724			9,980			10,396			38,177

Total revenue		32,898			35,221			36,237			36,079			140,435			36,037			36,340			38,731			41,579			152,687			42,102			43,454			48,593			51,373			185,522

Cost of revenue:
Software, hosting and support		5,035			5,043			5,305			5,014			20,397			4,949			4,954			5,232			5,813			20,948			5,879			5,952			5,923			5,855			23,609
Professional services		7,285			7,810			8,133			7,212			30,440			7,008			6,346			6,365			6,891			26,610			7,332			7,378			8,395			8,348			31,453

Total cost of revenue		12,320			12,853			13,438			12,226			50,837			11,957			11,300			11,597			12,704			47,558			13,211			13,330			14,318			14,203			55,062

Gross profit		20,578			22,368			22,799			23,853			89,598			24,080			25,040			27,134			28,875			105,129			28,891			30,124			34,275			37,170			130,460

Operating expenses:
Sales and marketing		16,818			17,627			16,889			16,294			67,628			14,863			16,008			16,175			17,705			64,751			18,724			18,777			20,006			21,888			79,395
Research and development		4,486			4,507			4,671			4,628			18,292			4,756			5,051			5,100			5,314			20,221			5,132			4,797			5,160			5,065			20,154
General and administrative		3,516			3,890			3,215			2,994			13,615			3,446			4,207			4,018			4,130			15,801			4,299			4,324			4,975			5,108			18,706

Total operating expenses		24,820			26,024			24,775			23,916			99,535			23,065			25,266			25,293			27,149			100,773			28,155			27,898			30,141			32,061			118,255

Operating income (loss)		(4,242	)		(3,656	)		(1,976	)		(63	)		(9,937	)		1,015			(226	)		1,841			1,726			4,356			736			2,226			4,134			5,109			12,205
Interest and other income, net		938			519			552			687			2,696			401			351			342			1,000			2,094			183			19			454			(311	)		345


Income (loss) before income taxes		(3,304	)		(3,137	)		(1,424	)		624			(7,241	)		1,416			125			2,183			2,726			6,450			919			2,245			4,588			4,798			12,550
(Provision) benefit for income taxes		(92	)		5			(23	)		68			(42	)		(153	)		(89	)		(218	)		(119	)		(579	)		(334	)		(841	)		(1,693	)		18,708			15,840

Net income (loss)		(3,396	)		(3,132	)		(1,447	)		692			(7,283	)		1,263			36			1,965			2,607			5,871			585			1,404			2,895			23,506			28,390


Net income (loss) per share:
Basic	$	(0.10	)	$	(0.09	)	$	(0.04	)	$	0.02		$	(0.22	)	$	0.04		$	0.00		$	0.06		$	0.08		$	0.18		$	0.02		$	0.04		$	0.09		$	0.72		$	0.88
Diluted	$	(0.10	)	$	(0.09	)	$	(0.04	)	$	0.02		$	(0.22	)	$	0.04		$	0.00		$	0.06		$	0.08		$	0.18		$	0.02		$	0.04		$	0.09		$	0.64		$	0.83

Shares used in the computation:
Basic		33,532			33,582			33,640			32,692			33,362			31,784			31,677			31,733			31,815			31,752			31,929			32,000			32,128			32,562			32,156
Diluted		33,532			33,582			33,640			33,204			33,362			32,249			32,160			32,424			33,047			32,336			33,431			33,427			33,659			37,574			34,568

Supplemental information of stock-based compensation expense included in:
Cost of software, hosting and support		77			79			87			80			323			96			142			120			102			460			113			117			127			125			482
Cost of professional services		153			165			158			162			638			133			209			138			132			612			114			122			128			122			486
Sales and marketing		538			595			738			583			2,454			622			952			761			694			3,029			751			726			818			782			3,077
Research and development		235			242			252			240			969			262			377			285			254			1,178			257			240			254			237			988
General and administrative		263			816			297			265			1,641			403			1,056			548			500			2,507			520			556			875			870			2,821

Total stock-based compensation		1,266			1,897			1,532			1,330			6,025			1,516			2,736			1,852			1,682			7,786			1,755			1,761			2,202			2,136			7,854

Consolidated Statements of Cash Flow

Unaudited
Last updated February 2, 2011


	2008															2009															2010
	Q1			Q2			Q3			Q4			YTD			Q1			Q2			Q3			Q4			YTD			Q1			Q2			Q3			Q4			YTD
Operating activities
Net income (loss)		(3,396	)		(3,132	)		(1,447	)		692			(7,283	)		1,263			36			1,965			2,607			5,871			585			1,404			2,895			23,506			28,390
Noncash adjustments:
Depreciation and amortization		1,954			1,956			1,956			1,905			7,771			1,887			1,726			1,797			2,081			7,491			2,065			1,872			1,812			2,023			7,772
Provision for losses on accounts receivable		89			26			64			33			212			57			30			30			40			157			50			31			50			60			191
Stock-based compensation expense		1,266			1,897			1,532			1,330			6,025			1,516			2,736			1,852			1,682			7,786			1,755			1,761			2,202			2,136			7,854
Deferred tax asset valuation allowance reversal		—			—			—			—			—			—			—			—			—			—			—			—			—			(19,732	)		(19,732	)
Changes in operating accounts:
Receivables		7,447			4,062			1,143			(7,878	)		4,774			13,569			(5,171	)		2,333			524			11,255			2,449			(2,910	)		(963	)		(2,605	)		(4,029	)
Prepaid and other current assets		(852	)		(804	)		(1,168	)		(900	)		(3,724	)		399			(583	)		(693	)		(614	)		(1,491	)		(1,054	)		175			289			(672	)		(1,262	)
Accounts payable and accrued liabilities		2,292			(257	)		42			(720	)		1,357			(1,823	)		3,099			(1,427	)		(35	)		(186	)		3,556			2,152			948			463			7,119
Commissions and bonuses payable		(1,523	)		742			166			1,545			930			(2,553	)		1,743			(132	)		1,393			451			(1,244	)		(329	)		1,451			999			877
Deferred revenue		(3,434	)		4,001			(3,566	)		7,168			4,169			(9,429	)		(2,038	)		(569	)		(2,880	)		(14,916	)		(4,614	)		(160	)		(2,887	)		(727	)		(8,388	)
Other		(173	)		83			(52	)		635			493			—			503			(247	)		(577	)		(321	)		(38	)		19			176			(455	)		(298	)

Cash provided (used) by operating activities		3,670			8,574			(1,330	)		3,810			14,724			4,886			2,081			4,909			4,221			16,097			3,510			4,015			5,973			4,996			18,494


Investing activities
Acquistion of property and equipment		(1,522	)		(1,536	)		(1,309	)		(1,425	)		(5,792	)		(584	)		(1,841	)		(1,240	)		(1,912	)		(5,577	)		(1,640	)		(2,196	)		(1,639	)		(1,233	)		(6,708	)
Business acquisitions		—			—			—			—			—			—			—			(5,906	)		—			(5,906	)		—			—			—			—			—
Intangible asset additions																	(100	)					(144	)		(410	)		(654	)		(1,034	)		(1,305	)		(1,120	)		(1,101	)		(4,560	)
Change in investments, net		(1,970	)		748			2,218			12,435			13,431			(2,251	)		(6,059	)		(13,081	)		5,558			(15,833	)		(342	)		17,107			6,935			(63,513	)		(39,813	)
Other		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—

Cash provided (used) for investing activities		(3,492	)		(788	)		909			11,010			7,639			(2,935	)		(7,900	)		(20,371	)		3,236			(27,970	)		(3,016	)		13,606			4,176			(65,847	)		(51,081	)


Financing activities
Net proceeds from (payments on) long-term debt		(11	)		(11	)		(11	)		(10	)		(43	)		(12	)		(11	)		(12	)		(11	)		(46	)		(12	)		(10	)		—			175,000			174,978
Debt issuance costs		—			—			—			—			—			—			—			—			—			—			—			—			—			(5,036	)		(5,036	)
Proceeds from issuance of stock:
Common stock issued under employee benefit plans		414			234			618			130			1,396			78			151			167			1,352			1,748			1,159			409			3,068			8,184			12,820
Common stock repurchase (Treasury)		—			—			—			(13,209	)		(13,209	)		(1,798	)		—			—			—			(1,798	)		—			—			—			(14,142	)		(14,142	)
Other		51			(53	)		—			(133	)		(135	)		89			48			95			11			243			328			802			1,491			982			3,603

Cash provided (used) by financing activities		454			170			607			(13,222	)		(11,991	)		(1,643	)		188			250			1,352			147			1,475			1,201			4,559			164,988			172,223


Effect of foreign exchange rates		278			234			(1,822	)		(1,338	)		(2,648	)		(251	)		1,156			613			349			1,867			(401	)		(724	)		1,808			83			766

Net change in cash and cash equivalents		910			8,190			(1,636	)		260			7,724			57			(4,475	)		(14,599	)		9,158			(9,859	)		1,568			18,098			16,516			104,220			140,402


Cash and cash equivalents at beginning of period		43,681			44,591			52,781			51,145			43,681			51,405			51,462			46,987			32,388			51,405			41,546			43,114			61,212			77,728			41,546

Cash and cash equivalents at end of period		44,591			52,781			51,145			51,405			51,405			51,462			46,987			32,388			41,546			41,546			43,114			61,212			77,728			181,948			181,948

Currency Component Data Sheet

Unaudited
As of February 2, 2011


	Currency Component
	of Total Revenue-TTM			Currency exchange rate		Impact of 1 percent change in fx
	as of December 31,			into USD as of February 1,		exchange rate per 100M in
	2010			2011		revenue

GBP		11	%		1.6118		177,298
EUR		5	%		1.3759		68,795
AUD		8	%		1.0062		80,496
USD and other		76	%		n/a

Total		100	%				326,589


	Currency Component
	of Total Expense-TTM			Currency exchange rate		Impact of 1 percent change in fx
	as of December 31,			into USD as of February 1,		exchange rate per 100M in
	2010			2011		revenue

GBP		11	%		1.6118		177,298
EUR		1	%		1.3759		13,759
AUD		5	%		1.0062		50,310
USD and other		83	%		n/a

Total		100	%				241,367

TTM=Trailing Twelve Months

RIGHTNOW TECHNOLOGIES INC - FORM 8-K - EX-99.2 - February 2, 2011

Attached files

RIGHTNOW TECHNOLOGIES INC Reports