[November 09, 2017] |
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Talend Reports Third Quarter 2017 Financial Results
Talend
(NASDAQ:
TLND), a global leader in cloud
and big
data integration software, today released financial results for the
third quarter ended September 30, 2017.
"We achieved record revenue for the third quarter of 2017 of $38.4
million, up 40% year-over-year," said Mike Tuchen, Talend CEO. "Our
subscription revenue grew 44% year-over-year, and we significantly
improved our operating margins over the same period. Our solid financial
results are driven by market recognition of our technical leadership and
success with large enterprise customers. Recently, we followed up being
positioned as a Leader by Gartner in the Magic Quadrant for Data
Integration Tools by being named a Leader in the Magic Quadrant for Data
Quality Tools. We view the further recognition by Gartner as proof of
our ability to execute and continually deliver solutions that meet the
rapidly evolving data demands of modern business."
Third Quarter 2017 Financial Highlights
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(in thousands, except per share data)
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Three Months Ended September 30,
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Nine Months Ended September 30,
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2016
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2017
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2016
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2017
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Revenue:
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Total Revenue
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$
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27,391
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$
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38,398
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$
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75,528
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$
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107,076
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Year-over-Year % Change
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40%
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40%
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37%
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42%
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Subscription Revenue
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$
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22,929
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$
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32,915
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$
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63,448
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$
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90,734
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Year-over-Year % Change
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41%
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44%
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41%
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43%
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Year-over-Year % Change - on a constant currency basis
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44%
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41%
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42%
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45%
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IFRS operating margin
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-22%
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-12%
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-26%
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-17%
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Non-IFRS operating margin (1)
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-19%
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-6%
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-23%
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-11%
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Net loss:
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IFRS
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$
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(6,374)
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$
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(5,352)
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$
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(19,701)
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$
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(20,524)
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Non-IFRS (2)
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$
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(5,353)
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$
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(3,099)
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$
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(17,238)
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$
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(14,535)
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Net loss per share:
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Net loss per share - basic and diluted
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$
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(0.30)
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$
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(0.18)
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$
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(2.03)
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$
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(0.71)
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Non-IFRS net loss per share
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$
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(0.25)
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$
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(0.11)
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$
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(1.77)
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$
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(0.50)
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Shares outstanding used in computing per share amounts - basic and
diluted
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21,206
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29,035
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9,725
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28,870
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_________________
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(1) Non-IFRS operating margin is calculated as non-IFRS
loss from operations divided by total revenue.
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(2) Non-IFRS financial measures exclude stock-based
compensation, amortization of acquired intangibles and share
issuance costs related to our follow-on offering and
shelf-registration statement.
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For the third quarter of 2017, Talend substantially improved its
operating leverage with IFRS operating margin improving to -12% from
-22% and Non-IFRS operating margin improving to -6% from -19%, compared
to the third quarter of 2016.
A reconciliation of IFRS to non-IFRS financial measures is provided in
the financial tables below. An explanation of these measures is also
included below, under the heading Non-IFRS Financial Measures.
Management Team Update
Talend's Chief Financial Officer, Thomas Tuchscherer, has announced his
intention to step down as CFO. Mr. Tuchscherer plans to remain in his
role while the company conducts a search for his replacement.
"Thomas has been pivotal in the growth of Talend over the last eight
years," commented Mike Tuchen, Talend CEO. "In addition to building a
strong and stable finance team, Thomas played a key role in our initial
public offering last year, and we are grateful for his contributions. We
have begun a search for a replacement."
Recent Business Highlights
-
Named a Leader in the Gartner Magic Quadrant for Data Integration
Tools once again, improving our position based on our ability to
execute
-
Moved into the Leaders Quadrant in the 2017 Gartner Magic Quadrant for
Data Quality Tools for the first time based on completeness of vision
and ability to execute
-
Unveiled the Fall '17 Release of Talend Integration Cloud offering a
self-service Data Preparation Application that empowers business users
with insight while centrally controlling and protecting data
-
Announced new European Data Center to support global expansion and
customers working to support the growing demand for Talend's cloud
offering in Europe
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Introduced new Data Governance & Compliance solution to help our
customers address the European Union's new General Data Protection
Regulation (GDPR)
-
Launched a new developer community to provide support, education, and
inspiration to users of Talend's enterprise solutions and open source
products
-
Appointed current board member, Steve Singh, to Chairman of the Board.
Singh is the current CEO and chairman of Docker and former CEO and
founder of Concur.
Financial Outlook
Talend's outlook assumes similar business conditions and foreign
exchange rates as of October 31, 2017, and is inclusive of the Reslet
acquisition which closed on November 8, 2017.
Fourth quarter of 2017:
-
Total revenue expectations are raised to be in the range of $41
million to $42 million.
-
Loss from operations is expected to be in the range of $(13.0) million
to $(12.0) million and non-IFRS loss from operations is expected to be
in the range of $(9.2) million to $(8.2) million, as we step up our
recruiting efforts in sales and marketing.
-
Net loss is expected to be in the range of $(13.1) million to $(12.1)
million and non-IFRS net loss is expected to be in the range of $(9.3)
million to $(8.3) million.
-
Net loss per basic and diluted share is expected to be in the range of
$(0.45) to $(0.41) and non-IFRS net loss per share is expected to be
in the range of $(0.32) to $(0.28).
-
Basic and diluted weighted average share count of 29.2 million shares.
Full year 2017:
-
Total revenue expectations are raised to the range of $148.1 million
to $149.1 million.
-
Loss from operations is expected to be in the range of $(30.9) million
to $(29.9) million and non-IFRS loss from operations is expected to
improve slightly and be in the range of $(21.1) million to $(20.1)
million.
-
Net loss is expected to be in the range of $(33.4) million to $(32.4)
million and non-IFRS net loss is expected to be in the range of
$(23.6) million to $(22.6) million.
-
Net loss per basic and diluted share is expected to be in the range of
$(1.15) to $(1.12) and non-IFRS net loss per share is expected to be
in the range of $(0.81) to $(0.78).
-
Basic and diluted weighted average share count of 29.0 million shares.
These statements are forward-looking and actual results may differ
materially. Refer to the section under the heading Forward-Looking
Statements below for information on the factors that could cause our
actual results to differ materially. An explanation of non-IFRS measures
is also included below under the heading Non-IFRS Financial Measures.
Conference Call Information
Talend will host a conference call and live webcast for analysts and
investors at 5:00 p.m. Eastern time on November 9, 2017. Parties in the
United States and Canada can access the call by dialing (888) 208-1814,
using conference code 7278979. International parties can access the call
by dialing (719) 325-2386 using conference code 7278979.
The webcast will be accessible on Talend's investor relations website at http://investor.talend.com
for one year. A telephonic replay of the conference call will be
available through Tuesday, November 14, 2017. To access the replay,
parties in the United States and Canada should call (866)-375-1919 and
enter conference code 7278979. International parties should call
(719)-457-0820 and enter conference code 7278979.
Non-IFRS Financial Measures
In addition to disclosing financial measures prepared in accordance with
International Financial Reporting Standards (''IFRS'') as issued by the
International Accounting Standard Board (''IASB''), this press release
and the accompanying tables contain certain non-IFRS financial measures.
Non-IFRS financial measures do not have any standardized meaning and are
therefore unlikely to be comparable to similarly titled measures
presented by other companies. Talend considers these non-IFRS financial
measures to be important because they provide useful indicators of its
performance and liquidity measures. These are key measures used by our
management and board of directors to understand and evaluate our core
operating performance and trends, to prepare and approve our annual
budget and to develop short and long-term operational plans. In
addition, investors often use similar measures to evaluate the
performance of a company. Non-IFRS financial measures are presented for
supplemental informational purposes only for understanding the company's
operating performance. The non-IFRS financial measures should not be
considered a substitute for financial information presented in
accordance with IFRS, and may be different from non-IFRS financial
measures presented by other companies. Please see the reconciliation of
non-IFRS financial measures to the most directly comparable IFRS measure
included in this release below.
Non-IFRS gross profit is calculated by adjusting gross profit to
eliminate the impact of stock-based compensation expense and
amortization of acquired intangibles.
Non-IFRS gross margin, expressed as a percentage, is
calculated as non-IFRS gross profit divided by total revenue.
Non-IFRS loss from operations is calculated by adjusting loss
from operations to eliminate the impact of stock-based compensation
expense, amortization of acquired intangibles expense and share issuance
costs related to follow-on offering and shelf registration statement.
Non-IFRS operating margin, expressed as a percentage, is
calculated as non-IFRS loss from operations divided by total revenue.
Non-IFRS net loss is calculated by adjusting net loss to
eliminate the impact of stock-based compensation expense, amortization
of acquired intangibles and share issuance costs related to follow-on
offering and shelf registration statement.
Non-IFRS cost of revenue is calculated by adjusting cost of
revenue to eliminate the impact of stock-based compensation expense and
amortization of acquired intangibles.
Non-IFRS operating expenses is calculated by adjusting operating
expenses to eliminate the impact of stock-based compensation expense,
amortization of acquired intangibles and share issuance costs related to
follow-on offering and shelf registration statement.
Non-IFRS sales and marketing expense is calculated by adjusting
sales and marketing expense to eliminate the impact of stock-based
compensation expense and amortization of acquired intangibles.
Non-IFRS research and development expense is calculated by
adjusting research and development expense to eliminate the impact of
stock-based compensation expense and amortization of acquired
intangibles.
Non-IFRS general and administrative expense is calculated by
adjusting general and administrative expense to eliminate the impact of
stock-based compensation expense, amortization of acquired intangibles
and share issuance costs related to follow-on offering and shelf
registration statement.
Free cash flow is defined as net cash from (used in) operating
activities less cash used in investing activities for acquisition of
property and equipment and intangible assets.
Subscription revenue growth on a constant currency basis
represents subscription revenue adjusted to exclude foreign currency
impacts. Subscription revenue on a constant currency basis is calculated
by applying the average monthly currency rates for each month in the
comparative period to the corresponding month in the current period. We
believe the disclosure of subscription revenue in constant currency
provides useful supplementary information to investors considering
potential significant fluctuations in currency rates.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Forward-looking statements
generally relate to future events or our future financial or operating
performance. In some cases, you can identify forward-looking statements
because they contain words such as "may," "will," "should," "expects,"
"plans," "anticipates," "could," "intends," "target," "projects,"
"contemplates," "believes," "estimates," "predicts," "potential" or
"continue" or the negative of these words or other similar terms or
expressions that concern our expectations, strategy, plans or
intentions. Forward-looking statements in this press release include,
but are not limited to, our anticipated operating results for the 2017
fourth quarter and fiscal year, our expectations regarding the evolution
of our marketplace and the goals for our Talend Data Fabric and our
belief that we are well-positioned to capitalize on the growing trends
of Hadoop, Spark, MapR Streams and cloud adoption. Our expectations and
beliefs regarding these matters may not materialize, and actual results
in future periods are subject to inherent risks, uncertainties and
changes in circumstance that are difficult or impossible to predict.
Consequently, you should not rely on these forward-looking statements.
Actual outcomes and results may differ materially from those
contemplated by these forward-looking statements as a result of such
uncertainties, risks, and changes in circumstances, including without
limitation risks and uncertainties related to our ability to continue to
deliver and improve our products and successfully develop new products;
customer acceptance and purchase of our existing products and new
products, including conversion of bookings to sales; our ability to
retain existing customers and generate new customers; the market for
data integration solutions, particularly our big data and cloud
integration solutions, not continuing to develop; competition from other
products and services; and general market, political, economic and
business conditions, including the fluctuation of foreign currency
exchange rates.
The forward-looking statements contained in this press release are also
subject to other risks and uncertainties, and the foregoing list of
factors is not exclusive. Additional risks and uncertainties that could
affect our financial and operating results are included under the
captions "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operation" and elsewhere in our most
recent filings with the Securities and Exchange Commission, including
our most recent reports on Form 6-K and our Form 20-F filed with the SEC
on March 7, 2017. Our SEC filings are available on the Investors section
of Talend's website at http://investor.talend.com and
on the SEC's website at www.sec.gov. The
forward-looking statements in this press release are based on
information available to us as of the date hereof, and we disclaim any
obligation to update any forward-looking statements provided to reflect
any change in our expectations or any change in events, conditions, or
circumstances on which any such statement is based, except as required
by law.
About Talend
Talend (NASDAQ: TLND) is a next generation leader in cloud and big data
integration solutions that helps companies become data driven by making
data more accessible, improving its quality and quickly moving data
where it's needed for real-time decision making. By simplifying big data
through these steps, Talend enables companies to act with insight based
on accurate, real-time information about their business, customers, and
industry. Talend's innovative open-source solutions quickly and
efficiently collect, prepare and combine data from a wide variety of
sources allowing companies to optimize it for virtually any aspect of
their business. Talend is headquartered in Redwood City, CA. For more
information, please visit www.talend.com
and follow us on Twitter: @Talend.
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TALEND S.A.
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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND OTHER DATA
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(in thousands, except per share amounts)
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Three Months Ended September 30,
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Nine Months Ended September 30,
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2016
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2017
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2016
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2017
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Revenue
|
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Subscriptions
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$
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22,929
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|
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$
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32,915
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$
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63,448
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|
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$
|
90,734
|
|
Professional services
|
|
|
4,462
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|
|
|
5,483
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|
|
|
12,080
|
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|
|
16,342
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Total revenue
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27,391
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38,398
|
|
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|
75,528
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107,076
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Cost of revenue
|
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|
|
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Subscriptions
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3,061
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3,979
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8,620
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|
11,609
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Professional services
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3,473
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|
4,293
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|
9,601
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|
12,795
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Total cost of revenue
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|
6,534
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|
8,272
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18,221
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24,404
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Gross profit
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20,857
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30,126
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57,307
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|
82,672
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Operating expenses
|
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Sales and marketing
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17,130
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|
20,778
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|
|
|
48,952
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|
61,332
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Research and development
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|
5,022
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6,534
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|
14,188
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|
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|
18,637
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General and administrative
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|
4,861
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7,295
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13,801
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|
20,735
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Total operating expenses
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|
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27,013
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34,607
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76,941
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100,704
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Loss from operations
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|
|
(6,156
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)
|
|
|
(4,481
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)
|
|
|
(19,635
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)
|
|
|
(18,032
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)
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Finance income (expense)
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|
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(214
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)
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|
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(831
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)
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20
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|
|
|
(2,400
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)
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Loss before income tax expense
|
|
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(6,370
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)
|
|
|
(5,312
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)
|
|
|
(19,614
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)
|
|
|
(20,432
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)
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Income tax (expense) benefit
|
|
|
(4
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)
|
|
|
(40
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)
|
|
|
(87
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)
|
|
|
(92
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)
|
Net loss for the period
|
|
$
|
(6,374
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)
|
|
$
|
(5,352
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)
|
|
$
|
(19,701
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)
|
|
$
|
(20,524
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)
|
|
|
|
|
|
|
|
|
|
|
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|
Shares outstanding used in computing per share amounts - basic and
diluted
|
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21,206
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|
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29,035
|
|
|
|
9,725
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|
|
|
28,870
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|
|
|
|
|
|
|
|
|
|
|
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Net loss per share - basic and diluted
|
|
$
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(0.30
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)
|
|
$
|
(0.18
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)
|
|
$
|
(2.03
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)
|
|
$
|
(0.71
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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UNAUDITED STOCK-BASED COMPENSATION AND AMORTIZATION OF ACQUIRED
INTANGIBLES EXPENSE
|
Total stock-based compensation and amortization of acquired
intangibles expense included in the Unaudited Consolidated
Statements of Operations is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30,
|
|
|
Nine Months Ended September 30,
|
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
|
(unaudited)
|
Cost of revenue - subscriptions
|
|
$
|
28
|
|
|
$
|
133
|
|
|
$
|
62
|
|
|
$
|
226
|
|
Cost of revenue - professional services
|
|
|
35
|
|
|
|
80
|
|
|
|
67
|
|
|
|
133
|
|
Sales and marketing
|
|
|
308
|
|
|
|
668
|
|
|
|
697
|
|
|
|
1,694
|
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Research and development
|
|
|
236
|
|
|
|
335
|
|
|
|
510
|
|
|
|
874
|
|
General and administrative
|
|
|
414
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|
780
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|
|
|
1,127
|
|
|
|
2,095
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|
Total stock-based compensation and amortization of acquired
intangibles expense
|
|
$
|
1,021
|
|
|
$
|
1,996
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|
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$
|
2,463
|
|
|
$
|
5,022
|
|
|
|
|
|
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TALEND S.A.
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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF
FINANCIAL POSITION
|
(in thousands)
|
|
|
|
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|
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|
|
December 31, 2016
|
|
|
September 30, 2017
|
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|
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Assets
|
|
|
|
|
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Current assets:
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
91,023
|
|
|
$
|
94,599
|
|
Trade receivables, net
|
|
|
38,016
|
|
|
|
36,036
|
|
Other current assets
|
|
|
6,559
|
|
|
|
8,088
|
|
Total current assets
|
|
|
135,598
|
|
|
|
138,723
|
|
Non-current assets:
|
|
|
|
|
|
|
Property and equipment, net
|
|
|
2,543
|
|
|
|
3,269
|
|
Goodwill
|
|
|
2,912
|
|
|
|
3,271
|
|
Intangible assets, net
|
|
|
509
|
|
|
|
321
|
|
Other non-current assets
|
|
|
3,089
|
|
|
|
3,768
|
|
Total non-current assets
|
|
|
9,053
|
|
|
|
10,629
|
|
Total assets
|
|
$
|
144,651
|
|
|
$
|
149,352
|
|
Liabilities
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
Trade and other payables
|
|
$
|
21,270
|
|
|
$
|
23,844
|
|
Provisions
|
|
|
759
|
|
|
|
408
|
|
Deferred revenue
|
|
|
74,119
|
|
|
|
93,307
|
|
Borrowings
|
|
|
143
|
|
|
|
10
|
|
Total current liabilities
|
|
|
96,291
|
|
|
|
117,569
|
|
Non-current liabilities:
|
|
|
|
|
|
|
Provisions
|
|
|
553
|
|
|
|
731
|
|
Deferred revenue
|
|
|
29,776
|
|
|
|
25,722
|
|
Borrowings
|
|
|
6
|
|
|
|
7
|
|
Total non-current liabilities
|
|
|
30,335
|
|
|
|
26,460
|
|
Total liabilities
|
|
|
126,626
|
|
|
|
144,029
|
|
Equity
|
|
|
|
|
|
|
Share capital
|
|
|
2,980
|
|
|
|
3,032
|
|
Share premium
|
|
|
194,992
|
|
|
|
198,594
|
|
Foreign currency translation reserve
|
|
|
1,551
|
|
|
|
882
|
|
Share-based payments reserve
|
|
|
7,574
|
|
|
|
12,357
|
|
Other reserves
|
|
|
-
|
|
|
|
54
|
|
Accumulated losses
|
|
|
(189,072
|
)
|
|
|
(209,596
|
)
|
Total shareholders' equity (deficit)
|
|
|
18,025
|
|
|
|
5,323
|
|
Total liabilities and shareholders' equity (deficit)
|
|
$
|
144,651
|
|
|
$
|
149,352
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TALEND S.A.
|
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(in thousands)
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30,
|
|
|
2016
|
|
|
2017
|
|
|
|
|
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
Net loss for the period
|
|
$
|
(19,701
|
)
|
|
$
|
(20,524
|
)
|
Adjustments to reconcile net loss to net cash from operating
activities:
|
|
|
|
|
|
|
Depreciation
|
|
|
872
|
|
|
|
1,133
|
|
Amortization of intangible assets
|
|
|
238
|
|
|
|
237
|
|
Unrealized gain foreign exchange
|
|
|
(981
|
)
|
|
|
2,212
|
|
Non-cash finance costs
|
|
|
85
|
|
|
|
-
|
|
Stock-based compensation
|
|
|
2,221
|
|
|
|
4,783
|
|
Income tax for the year
|
|
|
(86
|
)
|
|
|
75
|
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
Trade receivables
|
|
|
(690
|
)
|
|
|
4,208
|
|
Other assets
|
|
|
(1,456
|
)
|
|
|
(1,378
|
)
|
Trade and other payables
|
|
|
3,148
|
|
|
|
(42
|
)
|
Provisions
|
|
|
(90
|
)
|
|
|
(106
|
)
|
Deferred income
|
|
|
17,366
|
|
|
|
8,541
|
|
Net cash from operating activities
|
|
|
926
|
|
|
|
(861
|
)
|
Cash flows from investing activities:
|
|
|
|
|
|
|
Acquisition of property and equipment
|
|
|
(1,128
|
)
|
|
|
(1,674
|
)
|
Net cash used in investing activities
|
|
|
(1,128
|
)
|
|
|
(1,674
|
)
|
Cash flows from financing activities:
|
|
|
|
|
|
|
Proceeds from issuance of ordinary shares upon initial public
offering, net of offering costs and underwriters commissions and
discounts
|
|
|
92,691
|
|
|
|
-
|
|
Proceeds from issuance of ordinary shares
|
|
|
567
|
|
|
|
3,708
|
|
Proceeds from borrowings
|
|
|
2,000
|
|
|
|
-
|
|
Repayment of borrowings
|
|
|
(12,095
|
)
|
|
|
(140
|
)
|
Prepayment fee under Square 1 loan
|
|
|
(267
|
)
|
|
|
-
|
|
Net cash from financing activities
|
|
|
82,896
|
|
|
|
3,568
|
|
Net increase in cash and cash equivalents
|
|
|
82,694
|
|
|
|
1,033
|
|
Cash and cash equivalents at beginning of the period
|
|
|
6,930
|
|
|
|
91,023
|
|
Effect of exchange rate changes on cash and cash equivalents
|
|
|
378
|
|
|
|
2,543
|
|
Cash and cash equivalents at end of period
|
|
$
|
90,002
|
|
|
$
|
94,599
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TALEND S.A.
|
IFRS to Non-IFRS Reconciliations
|
(In thousands)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
The following tables detail the reconciliation of IFRS financial
measures to non-IFRS financial measures included in this release:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from operations:
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
$
|
(6,156)
|
|
$
|
(4,481)
|
|
$
|
(19,635)
|
|
$
|
(18,032)
|
Stock-based compensation expense
|
|
|
940
|
|
|
1,911
|
|
|
2,221
|
|
|
4,783
|
Amortization of acquired intangibles
|
|
|
81
|
|
|
86
|
|
|
242
|
|
|
240
|
Share issuance costs related to follow-on offering and
shelf-registration statement
|
|
|
-
|
|
|
256
|
|
|
-
|
|
|
966
|
Non-IFRS loss from operations
|
|
$
|
(5,135)
|
|
$
|
(2,228)
|
|
$
|
(17,172)
|
|
$
|
(12,043)
|
|
|
|
|
|
|
|
|
|
Non-IFRS operating margin
|
|
|
-19%
|
|
|
-6%
|
|
|
-23%
|
|
|
-11%
|
|
|
|
|
|
|
|
|
|
Net loss:
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(6,374)
|
|
$
|
(5,352)
|
|
$
|
(19,701)
|
|
$
|
(20,524)
|
Stock-based compensation expense
|
|
|
940
|
|
|
1,911
|
|
|
2,221
|
|
|
4,783
|
Amortization of acquired intangibles
|
|
|
81
|
|
|
86
|
|
|
242
|
|
|
240
|
Share issuance costs related to follow-on offering and
shelf-registration statement
|
|
|
-
|
|
|
256
|
|
|
-
|
|
|
966
|
Non-IFRS net loss
|
|
$
|
(5,353)
|
|
$
|
(3,099)
|
|
$
|
(17,238)
|
|
$
|
(14,535)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share count:
|
|
|
|
|
|
|
|
|
Weighted-average shares outstanding - basic and diluted
|
|
|
21,206
|
|
|
29,035
|
|
|
9,725
|
|
|
28,870
|
|
|
|
|
|
|
|
|
|
Net loss per share:
|
|
|
|
|
|
|
|
|
Net loss per share - basic and diluted
|
|
$
|
(0.30)
|
|
$
|
(0.18)
|
|
$
|
(2.03)
|
|
$
|
(0.71)
|
Non-IFRS net loss per share
|
|
$
|
(0.25)
|
|
$
|
(0.11)
|
|
$
|
(1.77)
|
|
$
|
(0.50)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit:
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
$
|
20,857
|
|
$
|
30,126
|
|
$
|
57,307
|
|
$
|
82,672
|
Stock-based compensation expense
|
|
|
63
|
|
|
214
|
|
|
129
|
|
|
359
|
Amortization of acquired intangibles
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
Non-IFRS gross profit
|
|
$
|
20,920
|
|
$
|
30,340
|
|
$
|
57,436
|
|
$
|
83,031
|
|
|
|
|
|
|
|
|
|
IFRS gross margin
|
|
|
76%
|
|
|
78%
|
|
|
76%
|
|
|
77%
|
Non-IFRS gross margin
|
|
|
76%
|
|
|
79%
|
|
|
76%
|
|
|
78%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue:
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
|
|
|
|
|
|
|
|
Cost of revenue
|
|
$
|
(6,534)
|
|
$
|
(8,272)
|
|
$
|
(18,221)
|
|
$
|
(24,404)
|
Stock-based compensation expense
|
|
|
63
|
|
|
214
|
|
|
129
|
|
|
359
|
Amortization of acquired intangibles
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
Non-IFRS cost of revenue
|
|
$
|
(6,471)
|
|
$
|
(8,058)
|
|
$
|
(18,092)
|
|
$
|
(24,045)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
|
|
|
|
|
|
|
|
Operating expenses
|
|
$
|
(27,013)
|
|
$
|
(34,607)
|
|
$
|
(76,941)
|
|
$
|
(100,704)
|
Stock-based compensation expense
|
|
|
877
|
|
|
1,697
|
|
|
2,092
|
|
|
4,424
|
Amortization of acquired intangibles
|
|
|
81
|
|
|
86
|
|
|
242
|
|
|
240
|
Share issuance costs related to follow-on offering and
shelf-registration statement
|
|
|
-
|
|
|
256
|
|
|
-
|
|
|
966
|
Non-IFRS operating expenses
|
|
$
|
(26,055)
|
|
$
|
(32,568)
|
|
$
|
(74,607)
|
|
$
|
(95,074)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing expense:
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
|
|
|
|
|
|
|
|
Sales and marketing expense
|
|
$
|
(17,130)
|
|
$
|
(20,778)
|
|
$
|
(48,952)
|
|
$
|
(61,332)
|
Stock-based compensation expense
|
|
|
308
|
|
|
668
|
|
|
697
|
|
|
1,694
|
Amortization of acquired intangibles
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
Non-IFRS sales and marketing expense
|
|
$
|
(16,822)
|
|
$
|
(20,110)
|
|
$
|
(48,255)
|
|
$
|
(59,638)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development expense:
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
|
|
|
|
|
|
|
|
Research and development expense
|
|
$
|
(5,022)
|
|
$
|
(6,534)
|
|
$
|
(14,188)
|
|
$
|
(18,637)
|
Stock-based compensation expense
|
|
|
201
|
|
|
298
|
|
|
408
|
|
|
772
|
Amortization of acquired intangibles
|
|
|
35
|
|
|
37
|
|
|
102
|
|
|
102
|
Non-IFRS research and development expense
|
|
$
|
(4,786)
|
|
$
|
(6,199)
|
|
$
|
(13,678)
|
|
$
|
(17,763)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General and administrative expense:
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
|
|
|
|
|
|
|
|
General and administrative expense
|
|
$
|
(4,861)
|
|
$
|
(7,295)
|
|
$
|
(13,801)
|
|
$
|
(20,735)
|
Stock-based compensation expense
|
|
|
368
|
|
|
731
|
|
|
987
|
|
|
1,958
|
Amortization of acquired intangibles
|
|
|
46
|
|
|
49
|
|
|
140
|
|
|
138
|
Share issuance costs related to follow-on offering and
shelf-registration statement
|
|
|
-
|
|
|
256
|
|
|
-
|
|
|
966
|
Non-IFRS general and administrative expense
|
|
$
|
(4,447)
|
|
$
|
(6,259)
|
|
$
|
(12,674)
|
|
$
|
(17,673)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TALEND S.A.
|
Free Cash Flow
|
(In thousands)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
The following table details our free cash flow for the three and
nine months ended September 30, 2016 and 2017, and a
reconciliation to the most directly comparable IFRS measure:
|
|
|
|
|
|
|
|
|
|
Free cash flow:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
|
|
|
|
|
|
|
|
Net cash from (used) in operating activities
|
|
|
332
|
|
|
(2,721)
|
|
|
926
|
|
|
(861)
|
Less: Acquisition of property and equipment
|
|
|
206
|
|
|
676
|
|
|
1,128
|
|
|
1,674
|
Free cash flow
|
|
$
|
126
|
|
$
|
(3,397)
|
|
$
|
(202)
|
|
$
|
(2,535)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TALEND S.A.
|
Constant Currency Reconciliation
|
(In thousands)
|
(unaudited)
|
|
|
|
|
|
|
|
The following table details our constant currency reconciliation
for the three months ended September 30, 2017 to the most directly
comparable IFRS measure:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30,
|
|
Year-over-Year Change
|
|
|
2016
|
|
2017
|
|
|
|
|
|
|
|
|
|
Subscription revenue as reported
|
|
|
22,929
|
|
|
32,915
|
|
44%
|
Conversion impact U.S. Dollar/other currencies
|
|
|
-
|
|
|
(599)
|
|
|
Subscription revenue on a constant currency basis
|
|
$
|
22,929
|
|
$
|
32,316
|
|
41%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TALEND S.A.
|
IFRS to Non-IFRS Reconciliations for EPS Guidance
|
(In millions)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
The following tables detail the reconciliation of IFRS financial
measures to non-IFRS financial measures included in this release:
|
|
|
|
|
|
|
|
|
|
Guidance for the fourth quarter and full year 2017:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2017
|
|
Year Ended December 31, 2017
|
|
|
Low
|
|
High
|
|
Low
|
|
High
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
$
|
(13.0)
|
|
$
|
(12.0)
|
|
$
|
(30.9)
|
|
$
|
(29.9)
|
Stock-based compensation expense
|
|
|
3.7
|
|
|
3.7
|
|
|
8.5
|
|
|
8.5
|
Amortization of acquired intangibles
|
|
|
0.1
|
|
|
0.1
|
|
|
0.3
|
|
|
0.3
|
Share issuance costs related to follow-on offering and shelf
registration statement
|
|
|
-
|
|
|
-
|
|
|
1.0
|
|
|
1.0
|
Non-IFRS loss from operations
|
|
$
|
(9.2)
|
|
$
|
(8.2)
|
|
$
|
(21.1)
|
|
$
|
(20.1)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2017
|
|
Year Ended December 31, 2017
|
|
|
Low
|
|
High
|
|
Low
|
|
High
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(13.1)
|
|
$
|
(12.1)
|
|
$
|
(33.4)
|
|
$
|
(32.4)
|
Stock-based compensation expense
|
|
|
3.7
|
|
|
3.7
|
|
|
8.5
|
|
|
8.5
|
Amortization of acquired intangibles
|
|
|
0.1
|
|
|
0.1
|
|
|
0.3
|
|
|
0.3
|
Share issuance costs related to follow-on offering and shelf
registration statement
|
|
|
-
|
|
|
-
|
|
|
1.0
|
|
|
1.0
|
Non-IFRS net loss
|
|
$
|
(9.3)
|
|
$
|
(8.3)
|
|
$
|
(23.6)
|
|
$
|
(22.6)
|
|
|
|
|
|
|
|
|
|
Shares outstanding used in computing IFRS and Non-IFRS per share
amounts
|
|
|
29.2
|
|
|
29.2
|
|
|
29.0
|
|
|
29.0
|
|
|
|
|
|
|
|
|
|
Net loss per share:
|
|
|
|
|
|
|
|
|
Net loss per share - basic and diluted
|
|
$
|
(0.45)
|
|
$
|
(0.41)
|
|
$
|
(1.15)
|
|
$
|
(1.12)
|
Non-IFRS net loss per share
|
|
$
|
(0.32)
|
|
$
|
(0.28)
|
|
$
|
(0.81)
|
|
$
|
(0.78)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Due to rounding, numbers presented throughout this document may not
add up precisely to the totals provided and percentages may not
precisely reflect the absolute figures.
|
|
|
|
View source version on businesswire.com: http://www.businesswire.com/news/home/20171109006453/en/
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