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EX-99.1 - EX-99.1 - OPOWER, INC.d26154dex991.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 11, 2015

 

 

Opower, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-36377   26-0542549

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

1515 North Courthouse Road, 8th Floor

Arlington, Virginia 22201

(Address of principal executive offices) (Zip Code)

(703) 778-4544

(Registrant’s telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 2.02 Results of Operations and Financial Condition.

On August 11, 2015, Opower, Inc. (the “Company”) issued a press release announcing its financial results for its fiscal second quarter ended June 30, 2015. A copy of the press release is furnished herewith as Exhibit 99.1.

The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

Item 7.01 Regulation FD Disclosure.

Below is supplemental financial information for historical periods relating to the Company’s revised presentation of revenue and the associated cost of revenue in its consolidated statement of operations. The information furnished pursuant to this Item shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

     Q1 2014
YTD
     Q2 2014
QTD
     Q2 2014
YTD
     Q3 2014
QTD
     Q3 2014
YTD
     Q4 2014
QTD
     Q4 2014
YTD
 

Revenue:

                    

Subscription

     26,191         28,458         54,649         29,953         84,602         30,875         115,477   

Services

     2,382         2,789         5,171         3,821         8,992         3,970         12,962   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total Revenue

     28,573         31,247         59,820         33,774         93,594         34,845         128,439   

Cost of revenue:

                    

Subscription

     6,836         7,772         14,608         8,506         23,114         8,902         32,016   

Services

     3,099         3,001         6,100         2,706         8,806         3,303         12,109   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total cost of revenue

     9,935         10,773         20,708         11,212         31,920         12,205         44,125   

Gross profit

     18,638         20,474         39,112         22,562         61,674         22,640         84,314   

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit

No.

  

Description

99.1    Press release dated as of August 11, 2015.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    OPOWER, INC.
Date: August 11, 2015   By:  

/s/ Thomas Kramer

  Name:       Thomas Kramer
  Title:   Chief Financial Officer


EXHIBIT INDEX

 

Exhibit

No.

  

Description

99.1    Press release dated as of August 11, 2015.