First Quarter Total Revenue In-Line with Guidance
and Profitability Metrics Above Guidance RangeFY 18 Business
Visibility Improves
Exa® Corporation (NASDAQ:EXA), a global innovator in simulation
software for product engineering, today announced financial results
for the first quarter fiscal 2018, which ended April 30, 2017.
Revenue Summary
First Quarter
|
1Q18 (millions) |
1Q17 (millions) |
Growth Rate |
Constant Currency Growth Rate |
Total Revenue |
$16.6 |
$16.8 |
(1 |
)% |
0 |
% |
License Revenue |
$14.4 |
$14.1 |
3 |
% |
4 |
% |
Project Revenue |
$2.1 |
$2.7 |
(22 |
)% |
(21 |
)% |
|
|
|
|
|
|
|
|
|
Due to rounding, totals do not equal the sum of line items in
the table above.
“Our first-quarter revenue was within the upper half of our
guidance range and both net income and adjusted EBITDA were better
than our guided ranges,” said Stephen Remondi, President and Chief
Executive Officer of Exa. “Exiting Q1, we are encouraged that the
business visibility into our customer renewal and
consumption trends in the automotive end-market has improved,
supporting increased optimism in our full year expectations.
“In addition, we are very excited by the interest and activity
we have experienced from the oil and gas industry since our joint
press release with BP, our first customer to license our
DigitalROCKTM solutions. We believe that our expansion into
this new vertical significantly expands our addressable market and
we look forward to it contributing to our growth in the
quarters ahead.”
First Quarter Fiscal 2018 Financial
Highlights
Revenue
- Total revenue for the first quarter of fiscal 2018 was $16.6
million, compared to $16.8 million in the comparable period in
fiscal 2017. On a constant currency basis, total revenue was flat
when compared with the corresponding period in fiscal 2017.
- License revenue was $14.4 million for the first quarter of
fiscal 2018, compared to $14.1 million in the comparable period in
fiscal 2017, representing an increase of 3%, or 4% on a constant
currency basis.
- Project revenue was $2.1 million for the first quarter of
fiscal 2018, compared to $2.7 million in the comparable period in
fiscal 2017, representing a decrease of 22%, or 21% on a constant
currency basis.
Profitability
- GAAP loss from operations was $(2.5) million in the first
quarter of fiscal 2018, compared to a loss of $(1.0) million in the
comparable period in fiscal 2017.
- Non-GAAP operating loss was $(1.8) million in the first quarter
of fiscal 2018, compared to a loss of $(0.4) million in the
comparable period in fiscal 2017.
- GAAP net loss was $(2.6) million in the first quarter of fiscal
2018, compared to a loss of $(0.9) million for the comparable
period in fiscal 2017. GAAP net loss per share was $(0.17), based
on 14.9 million diluted weighted average shares outstanding,
compared to GAAP net loss per share of $(0.06) for the comparable
period in fiscal 2017, based on 14.6 million diluted weighted
average shares outstanding.
- Adjusted EBITDA was $(0.6) million in the first quarter of
fiscal 2018, compared to $0.5 million in the comparable period in
fiscal 2017.
- Non-GAAP net loss was $(2.1) million, or $(0.14) per diluted
share in the first quarter of fiscal 2018, compared to a loss of
$(0.6) million, or $(0.04) per diluted share, in the comparable
period in fiscal 2017.
Balance Sheet
- The company had $26.6 million in cash and cash equivalents as
of April 30, 2017, compared to $24.6 million as of January 31,
2017.
Business Outlook
Based on information available as of today, Exa is providing
second quarter and fiscal 2018 guidance as indicated below.
Second Quarter Fiscal 2018:
- Total revenue is expected to be in the range of $17.1 million
to $18.1 million.
- Adjusted EBITDA is expected to range from a loss of $(0.5)
million to a gain of $0.1 million.
- GAAP net loss is expected to be in the range of $(3.1) million
to $(2.4) million.
- Non-GAAP net loss is expected to be in the range of $(2.3)
million to $(1.7) million.
- Basic share count for the first quarter is estimated to be 15.0
million shares.
- Diluted share count for the first quarter is estimated to be
15.3 million shares.
Full Year Fiscal 2018:
- Total revenue is expected to be in the range of $76.0 million
to $80.0 million.
- Adjusted EBITDA is expected to be in the range of $5.8 million
to $8.2 million.
- GAAP net loss is expected to be in the range of $(6.1) million
to $(3.7) million.
- Non-GAAP net loss is expected to be in the range of $(3.0)
million to $(0.6) million.
- Basic share count for the full year is estimated to be 15.0
million shares.
- Diluted share count for the full year is estimated to be 15.5
million shares.
The above guidance assumes an exchange rate of 1.10 US dollars
per Euro and 112 Japanese yen per US dollar for fiscal year
2018.
An explanation and reconciliation of historical and
forward-looking non-GAAP measures presented above, including
revenue on a constant currency basis, adjusted EBITDA, non-GAAP
operating loss and non-GAAP net loss, to the comparable GAAP
measures is provided below and in the attachments to this press
release.
Conference Call Information
What: |
|
Exa’s first quarter
fiscal 2018 financial results conference call |
When: |
|
Wednesday, May 24,
2017 |
Time: |
|
5:00 p.m. ET |
Webcast: |
|
http://investor.exa.com
(live and replay) |
Live Call: |
|
(877) 878-2664,
Domestic |
|
|
(970) 315-0423,
International |
Replay: |
|
(855) 859-2056,
Passcode 22240973, Domestic |
|
|
(404) 537-3406,
Passcode 22240973, International |
|
|
|
Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements,
which are presented on a GAAP basis, we disclose revenue on a
constant currency basis, non-GAAP operating income (loss), non-GAAP
net income (loss), non-GAAP net income (loss) per diluted share and
Adjusted EBITDA. These non-GAAP measures are not in accordance
with, or an alternative for, amounts determined in accordance with
generally accepted accounting principles in the United States. The
GAAP measure most comparable to revenue on a constant currency
basis is GAAP revenue. The GAAP measure most comparable to non-GAAP
operating income (loss) is GAAP income (loss) from operations. The
GAAP measure most comparable to non-GAAP net income (loss) and
Adjusted EBITDA is GAAP net income (loss). The GAAP measure
most comparable to Non-GAAP net income (loss) per diluted share is
GAAP net income (loss) per diluted share. A reconciliation of these
non-GAAP financial measures to the corresponding GAAP measure is
included below.
We define revenue on a constant currency basis as GAAP revenue,
adjusted to reverse the impact of changes in the average exchange
rates of currencies in which our international operations generated
revenue and incurred expenses.
We define non-GAAP net income (loss) as net income (loss),
excluding the after-tax impact of non-cash, stock-based
compensation expense and the amortization of acquired intangibles.
We define EBITDA as net income (loss), excluding depreciation and
amortization, interest expense, other income (expense), foreign
exchange gain (loss) and provision for income taxes, and we define
Adjusted EBITDA as EBITDA, excluding non-cash, stock-based
compensation expense.
Our management uses these non-GAAP measures when evaluating our
operating performance and for internal planning and forecasting
purposes. We believe that these measures help indicate underlying
trends in our business, are important in comparing current results
with prior period results, and are useful to investors and
financial analysts in assessing our operating performance. For
example, our international operations generate revenue and incur
expenses that are denominated in foreign currencies. These amounts
could be materially affected by currency fluctuations. Our
principal exposures are to fluctuations in exchange rates for the
United States dollar versus the Euro, British pound, Japanese yen,
Chinese yuan and Korean won. Changes in currency exchange rates
that are beyond our control can significantly affect our
consolidated results of operations. We believe that disclosure of
our revenue on a constant currency basis is useful as an indicator
of demand for our solutions independent of the influence of
currency exchange fluctuations. Management considers Adjusted
EBITDA to be an important indicator of our operational strength and
the performance of our business and a good measure of our
historical operating trends. The non-GAAP financial information
presented here should be considered in conjunction with, and not as
a substitute for, or superior to, the financial information
presented in accordance with GAAP and, in particular, should not be
considered a measure of our liquidity. There are significant
limitations associated with the use of non-GAAP financial measures.
Further, these measures may differ from the non-GAAP information,
even where similarly titled, used by other companies and therefore
should not be used to compare our performance to that of other
companies. Investors should carefully consider the attached
reconciliation of these non-GAAP financial measures to the
comparable GAAP financial measures.
About Exa Corporation
Exa (Nasdaq:EXA) (www.exa.com) Corporation's visualization and
simulation software helps designers and engineers enhance the
performance of their products, reduce product development costs and
improve the efficiency of their design and engineering processes.
As a design evolves, Exa accurately predicts the performance of
that design while providing actionable insight to optimize the
performance of the product. With Exa, the need for costly physical
prototypes and expensive late-stage changes is reduced. Now,
designers and engineers are freed from the risk of producing
compromised products that do not meet market and regulatory
requirements. Exa currently focuses primarily on the ground
transportation market, in which some of the most successful product
companies in the world use Exa, including BMW, Delphi, Denso, Fiat
Chrysler, Ford, Hino, Honda, Hyundai, Jaguar Land Rover, Kenworth,
Komatsu, MAN, Nissan, Peterbilt, Peugeot, Renault, Scania, Toyota,
Volkswagen and Volvo Trucks, and has recently expanded its
technology offerings into the fields of aerospace and oil and gas
production.
Safe Harbor Statement
This press release, including the section entitled “Business
Outlook,” contains forward-looking statements describing our
expectations concerning future events and our future financial
performance. These statements are only predictions and may be
inaccurate. Actual events or results may differ materially. In
evaluating these statements, you should specifically consider
various factors, including the risks outlined under “Risk Factors”
in our Annual Report on Form 10-K for the year ended January 31,
2017 and in our other SEC filings. These factors may cause our
actual results to differ materially from those described in our
forward-looking statements. Although we believe that the
expectations reflected in the forward-looking statements are
reasonable, our future results, levels of activity, performance or
achievements may differ from our expectations. Other than as
required by law, we do not undertake a responsibility to update any
of the forward-looking statements after the date of this press
release, even though our situation may change in the future.
|
EXA CORPORATION |
Condensed Consolidated Balance
Sheets |
(Unaudited) |
(in thousands, except share and per share
data) |
|
|
|
|
|
April 30, |
|
January
31, |
|
|
2017 |
|
|
|
2017 |
|
ASSETS |
|
|
|
Current assets: |
|
|
|
Cash and
cash equivalents |
$ |
26,630 |
|
|
$ |
24,552 |
|
Accounts
receivable |
|
13,036 |
|
|
|
24,259 |
|
Prepaid
expenses and other current assets |
|
3,121 |
|
|
|
2,898 |
|
Total
current assets |
|
42,787 |
|
|
|
51,709 |
|
Property
and equipment, net |
|
13,654 |
|
|
|
14,028 |
|
Intangible assets, net |
|
1,606 |
|
|
|
1,694 |
|
Deferred
tax assets |
|
566 |
|
|
|
566 |
|
Restricted cash |
|
352 |
|
|
|
352 |
|
Other
assets |
|
743 |
|
|
|
725 |
|
Total assets |
$ |
59,708 |
|
|
$ |
69,074 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
Current liabilities: |
|
|
|
Accounts
payable |
$ |
3,439 |
|
|
$ |
4,616 |
|
Accrued
expenses |
|
6,439 |
|
|
|
10,569 |
|
Current
portion of deferred revenue |
|
27,649 |
|
|
|
29,006 |
|
Current
portion of capital lease obligations |
|
1,538 |
|
|
|
1,737 |
|
Total
current liabilities |
|
39,065 |
|
|
|
45,928 |
|
Deferred
revenue |
|
35 |
|
|
|
238 |
|
Capital
lease obligations |
|
539 |
|
|
|
914 |
|
Deferred
rent |
|
2,260 |
|
|
|
2,391 |
|
Other
long-term liabilities |
|
432 |
|
|
|
429 |
|
Total
liabilities |
|
42,331 |
|
|
|
49,900 |
|
Commitments and contingencies |
|
|
|
Stockholders’ equity : |
|
|
|
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no
shares issued and outstanding |
|
— |
|
|
|
— |
|
Common
stock, $0.001 par value; 30,000,000 shares authorized; 14,941,743
and 14,926,429 shares issued, respectively; 14,909,241 and
14,893,927 shares outstanding, respectively |
|
15 |
|
|
|
15 |
|
Additional paid-in capital |
|
95,260 |
|
|
|
94,516 |
|
Accumulated deficit |
|
(77,401 |
) |
|
|
(74,817 |
) |
Treasury
stock (32,502 common shares, at cost) |
|
0 |
|
|
|
0 |
|
Accumulated other comprehensive loss |
|
(497 |
) |
|
|
(540 |
) |
Total
stockholders’ equity |
|
17,377 |
|
|
|
19,174 |
|
Total liabilities and stockholders’ equity |
$ |
59,708 |
|
|
$ |
69,074 |
|
|
|
|
|
EXA CORPORATION |
Condensed Consolidated Statements of Operations
and Comprehensive Loss |
(Unaudited) |
(in thousands, except share and per share
data) |
|
|
|
|
|
Three Months Ended April 30, |
|
|
2017 |
|
|
|
2016 |
|
Revenue: |
|
|
|
License
revenue |
$ |
14,430 |
|
|
$ |
14,059 |
|
Project
revenue |
|
2,126 |
|
|
|
2,726 |
|
Total
revenue |
|
16,556 |
|
|
|
16,785 |
|
Operating expenses (1): |
|
|
|
Cost of
revenues |
|
5,186 |
|
|
|
4,804 |
|
Sales and
marketing |
|
3,420 |
|
|
|
3,331 |
|
Research
and development |
|
6,404 |
|
|
|
6,211 |
|
General
and administrative (2) |
|
4,013 |
|
|
|
3,449 |
|
Total
operating expenses |
|
19,023 |
|
|
|
17,795 |
|
Loss
from operations |
|
(2,467 |
) |
|
|
(1,010 |
) |
Other
(expense) income, net: |
|
|
|
Foreign
exchange (loss) gain |
|
(214 |
) |
|
|
215 |
|
Interest
expense |
|
(16 |
) |
|
|
(47 |
) |
Interest
income |
|
14 |
|
|
|
10 |
|
Other
income, net: |
|
- |
|
|
|
9 |
|
Total
other (expense) income, net |
|
(216 |
) |
|
|
187 |
|
Loss
before income taxes |
|
(2,683 |
) |
|
|
(823 |
) |
Benefit
(provision) for income taxes |
|
133 |
|
|
|
(120 |
) |
Net
loss |
$ |
(2,550 |
) |
|
$ |
(943 |
) |
Net loss per share: |
|
|
|
Basic |
$ |
(0.17 |
) |
|
$ |
(0.06 |
) |
Diluted |
$ |
(0.17 |
) |
|
$ |
(0.06 |
) |
Weighted average shares outstanding used in computing
net loss per
share: |
|
|
|
Basic |
|
14,900,193 |
|
|
|
14,636,433 |
|
Diluted |
|
14,900,193 |
|
|
|
14,636,433 |
|
|
|
|
|
Comprehensive loss: |
|
|
|
Net
loss |
$ |
(2,550 |
) |
|
$ |
(943 |
) |
Foreign
currency translation adjustment |
|
43 |
|
|
|
117 |
|
Comprehensive loss |
$ |
(2,507 |
) |
|
$ |
(826 |
) |
|
|
|
|
|
|
|
|
(1) Includes
stock-based compensation expense as follows: |
|
|
|
|
Three Months Ended April
30, |
|
|
2017 |
|
|
|
2016 |
|
Cost of
revenues |
$ |
37 |
|
|
$ |
44 |
|
Sales and
marketing |
|
71 |
|
|
|
90 |
|
Research
and development |
|
271 |
|
|
|
183 |
|
General
and administrative |
|
246 |
|
|
|
172 |
|
Total |
$ |
625 |
|
|
$ |
489 |
|
|
|
|
|
|
|
|
|
(2) Includes
amortization expense related to intangible assets as follows: |
|
|
|
|
Three Months Ended April
30, |
|
|
2017 |
|
|
|
2016 |
|
General
and administrative |
|
88 |
|
|
|
88 |
|
|
|
|
|
|
|
|
|
EXA CORPORATION |
Condensed Consolidated Statements of Cash
Flows |
(Unaudited) |
(in thousands) |
|
|
|
|
|
|
|
Three Months Ended April 30, |
|
|
|
2017 |
|
|
|
2016 |
|
Cash flows provided by operating activities: |
|
|
|
|
Net
loss |
|
$ |
(2,550 |
) |
|
$ |
(943 |
) |
Adjustments to reconcile net loss to net cash provided by operating
activities: |
|
|
|
|
Depreciation and amortization |
|
|
1,217 |
|
|
|
1,011 |
|
Stock-based compensation expense |
|
|
625 |
|
|
|
489 |
|
Deferred
rent expense |
|
|
(139 |
) |
|
|
(6 |
) |
Deferred
income taxes |
|
|
- |
|
|
|
(12 |
) |
Net
change in operating assets and liabilities: |
|
|
|
|
Accounts
receivable |
|
|
11,162 |
|
|
|
17,863 |
|
Prepaid
expenses and other current assets |
|
|
(224 |
) |
|
|
1,242 |
|
Other
assets |
|
|
(18 |
) |
|
|
(45 |
) |
Accounts
payable |
|
|
131 |
|
|
|
(970 |
) |
Accrued
expenses |
|
|
(3,890 |
) |
|
|
(5,750 |
) |
Other
liabilities |
|
|
3 |
|
|
|
36 |
|
Deferred
revenue |
|
|
(1,569 |
) |
|
|
(1,042 |
) |
Net cash
provided by operating activities |
|
|
4,748 |
|
|
|
11,873 |
|
Cash flows used in investing activities: |
|
|
|
|
Purchases
of property and equipment |
|
|
(2,320 |
) |
|
|
(521 |
) |
Net cash
used in investing activities |
|
|
(2,320 |
) |
|
|
(521 |
) |
Cash flows used in financing activities: |
|
|
|
|
Proceeds
from stock option exercises |
|
|
99 |
|
|
|
57 |
|
Acquisition of common stock for tax withholding obligations |
|
|
(15 |
) |
|
|
— |
|
Payments
of capital lease obligations |
|
|
(574 |
) |
|
|
(751 |
) |
Net cash
used in financing activities |
|
|
(490 |
) |
|
|
(694 |
) |
Effect
of exchange rate changes on cash |
|
|
140 |
|
|
|
875 |
|
Net
increase in cash and cash equivalents |
|
|
2,078 |
|
|
|
11,533 |
|
Cash and
cash equivalents, beginning of period |
|
|
24,552 |
|
|
|
27,649 |
|
Cash and
cash equivalents, end of period |
|
$ |
26,630 |
|
|
$ |
39,182 |
|
|
|
|
|
|
Supplemental cash flow disclosures: |
|
|
|
|
Cash paid
for interest |
|
$ |
16 |
|
|
$ |
47 |
|
Cash paid
for income taxes |
|
$ |
1,055 |
|
|
$ |
1,137 |
|
Supplemental disclosure of non-cash investing
activities: |
|
|
|
|
Decrease
in unpaid purchases of property and equipment |
|
$ |
(1,571 |
) |
|
$ |
(426 |
) |
|
|
|
|
|
EXA CORPORATION |
Reconciliation of historical Non-GAAP to GAAP
measures |
(Unaudited) |
(in thousands, except per share
data) |
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA: |
|
Three Months Ended April 30, |
|
|
|
2017 |
|
|
|
2016 |
|
|
|
|
|
|
Net
loss |
|
$ |
(2,550 |
) |
|
$ |
(943 |
) |
Add
back: |
|
|
|
|
Depreciation and amortization |
|
|
1,217 |
|
|
|
1,011 |
|
Interest
expense, net |
|
|
2 |
|
|
|
37 |
|
Other
income, net |
|
|
0 |
|
|
|
(9 |
) |
Foreign
exchange loss (gain) |
|
|
214 |
|
|
|
(215 |
) |
(Benefit) provision for income taxes |
|
|
(133 |
) |
|
|
120 |
|
EBITDA |
|
|
(1,250 |
) |
|
|
1 |
|
Stock-based compensation expense |
|
|
625 |
|
|
|
489 |
|
Adjusted
EBITDA |
|
$ |
(625 |
) |
|
$ |
490 |
|
|
|
|
|
|
Non-GAAP operating loss: |
|
Three Months Ended April 30, |
|
|
|
2017 |
|
|
|
2016 |
|
|
|
|
|
|
Operating loss |
|
$ |
(2,467 |
) |
|
$ |
(1,010 |
) |
Add
back: |
|
|
|
|
Stock-based compensation expense |
|
|
625 |
|
|
|
489 |
|
Amortization of acquired intangible assets |
|
|
88 |
|
|
|
88 |
|
Non-GAAP
operating loss |
|
$ |
(1,754 |
) |
|
$ |
(433 |
) |
|
|
|
|
|
Non-GAAP net loss: |
|
Three Months Ended April 30, |
|
|
|
2017 |
|
|
|
2016 |
|
|
|
|
|
|
Net
loss |
|
|
(2,550 |
) |
|
|
(943 |
) |
Add
back: |
|
|
|
|
Stock-based compensation expense |
|
|
625 |
|
|
|
489 |
|
Amortization of acquired intangible assets |
|
|
88 |
|
|
|
88 |
|
Income
tax effect (1) |
|
|
(250 |
) |
|
|
(202 |
) |
Non-GAAP
net loss |
|
$ |
(2,087 |
) |
|
$ |
(568 |
) |
|
|
|
|
|
Non-GAAP net loss, per diluted share: |
|
Three Months Ended April 30, |
|
|
|
2017 |
|
|
|
2016 |
|
Net
loss, per diluted share (2) |
|
$ |
(0.17 |
) |
|
$ |
(0.06 |
) |
Add
back: |
|
|
|
|
Stock-based compensation expense |
|
|
0.04 |
|
|
|
0.03 |
|
Amortization of acquired intangible assets |
|
|
0.01 |
|
|
|
0.01 |
|
Income
tax effect (1) |
|
|
(0.02 |
) |
|
|
(0.01 |
) |
Non-GAAP
net loss, per diluted share (2)(3): |
|
$ |
(0.14 |
) |
|
$ |
(0.04 |
) |
|
|
|
|
|
(1) The tax effect of non-cash stock-based compensation
expense and non-cash amortization of acquired intangibles is
estimated using a blended rate equivalent to our annual statutory
United States federal tax rate and our estimated state tax rate.
The tax effect is exclusive of any impact from valuation allowances
established against our United States net deferred tax assets and
other discrete items. Due to the differences in the tax treatment
of items excluded from non-GAAP earnings, as well as the
methodology applied to our estimated annual tax rates as described
above, our estimated tax rate on non-GAAP income may differ from
our GAAP tax rate and from our actual tax liabilities. |
|
|
|
|
|
(2) Share amounts utilized on a fully diluted basis were
approximately 14.9 million and 14.6 million for the three months
ended April 30, 2017 and 2016, respectively. |
|
|
|
|
|
(3) Due to rounding, totals may not equal the sum of line
items in the table above. |
|
|
|
|
|
EXA
CORPORATION |
Reconciliation of forward looking Non-GAAP to
GAAP
measures |
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA and Adjusted EBITDA |
|
Three months ended
July 31, 2017 |
|
|
Year ended
January 31, 2018 |
(in
millions) |
|
|
|
|
|
Net
loss |
$ |
(3.1) -
(2.4) |
|
$ |
(6.1) - (3.7) |
Add
back: |
|
|
|
|
|
Depreciation and amortization |
|
1.3 |
|
|
5.2 |
Interest
expense, net |
|
0.1 |
|
|
0.4 |
Provision for income taxes |
|
0.1 - 0.0 |
|
|
1.9 |
EBITDA |
|
(1.6 -
1.0) |
|
|
1.4 - 3.8 |
Stock-based compensation expense |
|
1.1 |
|
|
4.4 |
Adjusted
EBITDA |
$ |
(0.5) - 0.1 |
|
$ |
5.8 - 8.2 |
|
|
|
|
|
|
Non-GAAP net loss: |
|
Three months ended
July 31, 2017 |
|
|
Year ended
January 31, 2018 |
(in
millions) |
|
|
|
|
|
Net
loss |
|
(3.1) -
(2.4) |
|
|
(6.1) - (3.7) |
Add
back: |
|
|
|
|
|
Stock-based compensation expense |
|
1.1 |
|
|
4.4 |
Amortization of acquired intangible assets |
|
0.1 |
|
|
0.4 |
Income
tax effect (1) |
|
(0.4) -
(0.5) |
|
|
(1.7) |
Non-GAAP
net loss |
|
(2.3) - (1.7) |
|
|
(3.0) - (0.6) |
|
|
|
|
|
|
|
|
|
|
|
|
(1) Non-GAAP financial information is adjusted using a
blended rate equivalent to our annual statutory United States
federal tax rate and our estimated state tax rate. The tax effect
is exclusive of any impact from valuation allowances established
against our United States net deferred tax assets and other
discrete items. Due to the differences in the tax treatment of
items excluded from non-GAAP earnings, as well as the methodology
applied to our estimated annual tax rates as described above, our
estimated tax rate on non-GAAP income may differ from our GAAP tax
rate and from our actual tax liabilities. |
|
|
|
|
|
|
Media Contact:
Michelle Murray-Ross, Exa Corporation
+1 (781) 564-0251
michelle@exa.com
Investor Relations Contact:
Garo Toomajanian, ICR
+1 (781) 564-0337
investor@exa.com
Exa Corp. (MM) (NASDAQ:EXA)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Exa Corp. (MM) (NASDAQ:EXA)
Gráfica de Acción Histórica
De May 2023 a May 2024