Apptio Announces Results for the Third Quarter of 2017
Reported Q3 revenue of $47.0 million and strong cash flow
BELLEVUE, Wash., Oct. 30, 2017 /PRNewswire/ -- Apptio, Inc. (NASDAQ:APTI), the business management system of record for hybrid IT, today announced results for the quarter ended September 30, 2017.
"In the third quarter, we achieved record revenue of $47.0 million and returned our trailing twelve months subscription net dollar retention to approximately 100%," said Sunny Gupta, co-founder and CEO, Apptio. "Our value proposition is resonating with companies of all sizes, as is evidenced by our third quarter customer acquisitions, the early success of our new IT Financial Management (ITFM) Foundation offering, and our strong competitive position."
Third Quarter Financial Summary
- Subscription revenue was $39.4 million, an increase of 18% from the third quarter of 2016, and comprised 84% of total revenue. Services revenue was $7.6 million, an increase of 4% from the third quarter of 2016. Total revenue was $47.0 million, an increase of 16% from the third quarter of 2016.
- GAAP gross margin was 70%, a significant improvement from the third quarter of 2016 GAAP gross margin of 66%. Non-GAAP gross margin improved to 72%, as compared to non-GAAP gross margin of 67% in the third quarter of 2016.
- GAAP operating margin was negative 11%, improving from GAAP operating margin of negative 17% in the third quarter of 2016. Non-GAAP operating margin improved to negative 2%, as compared to non-GAAP operating margin of negative 11% in the third quarter of 2016.
- GAAP net loss per basic and diluted share was $0.13 based on 40.1 million weighted average shares outstanding, compared to a GAAP net loss per basic and diluted share of $0.63 based on 13.9 million weighted average shares outstanding in the third quarter of 2016.
- Non-GAAP net loss per basic and diluted share was $0.02 based on 40.1 million weighted average shares outstanding, compared to a non-GAAP net loss per basic and diluted share of $0.45 based on 13.9 million weighted average shares outstanding in the third quarter of 2016.
- For the three months ended September 30, 2017, net cash provided by operating activities was $9.1 million as compared to net cash used in operating activities of $0.8 million in the comparable period last year. Free cash flow was $8.5 million, as compared to negative $2.0 million in the three months ended September 30, 2016.
- Cash, cash equivalents and marketable securities were approximately $135.5 million as of September 30, 2017.
Business Highlights
- Launched ITFM Foundation to address the specific needs of IT finance professionals. The offering combines the capabilities from our Cost Transparency and IT Planning applications, allowing IT leaders to make informed planning decisions, reduce risk to the business and shift spending toward innovation.
- Saw continued momentum in the Public sector, as evidenced by recent customer additions and a commitment from the CIO Council, the General Services Administration, and the Office of the Federal CIO to guide agency adoption of TBM.
- We are excited about the TBM Conference beginning on November 6 in Las Vegas. We expect over 1,000 technology and finance leaders to attend.
Financial Outlook
Apptio provides guidance based on current market conditions and expectations and actual results may differ materially. Please refer to the company's comments below regarding Forward Looking Statements. Apptio is initiating guidance for the fourth quarter ending December 31, 2017 and for the full year 2017 as follows:
Fourth quarter of 2017:
- Total revenue is expected to be in the range of $49.5 to $50.0 million
- Non-GAAP operating loss between $3.5 and $4.0 million
Full year 2017:
- Total revenue is expected to be in the range of $185.7 and $186.2 million
- Non-GAAP operating loss between $10.9 and $11.4 million
All forward-looking non-GAAP financial measures contained in this section titled "Financial Outlook" exclude the effects of stock-based compensation expense.
Conference Call Information
Apptio plans to host a conference call today to discuss the results. The call is scheduled to begin at 2:00 p.m. PT/ 5:00 p.m. ET and can be accessed by dialing 844-233-0116 (passcode: 95458380), or if outside North America, by dialing 574-990-1011 (passcode: 95458380). Individuals may also access the live teleconference from the investor relations section of the Apptio website at investors.apptio.com. A replay will be available following completion of the live broadcast.
About Apptio
Apptio (NASDAQ: APTI) is the business management system of record for hybrid IT. We transform the way IT runs its business and makes decisions. With our cloud-based applications, IT leaders manage, plan and optimize their technology investments across on-premises and cloud. With Apptio, IT leaders become strategic partners to the business by demonstrating the value of IT investments, accelerate innovation and shift their technology investments from running the business to digital innovation. Hundreds of customers choose Apptio as their business system of record for hybrid IT. For more information, please visit www.Apptio.com.
Forward-Looking Statements
This 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 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding our strategy, prospects, customer demand, application adoption and our financial outlook for the fourth quarter of, and full year, 2017. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption "Risk Factors" and elsewhere in our filings with the U.S. Securities and Exchange Commission, including, without limitation, the Form 10-Q filed with the SEC on August 3, 2017. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update this information unless required by law.
Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with Generally Accepted Accounting Principles in the United States of America (GAAP), we use the following non-GAAP financial measures: non-GAAP gross margin, non-GAAP operating loss, non-GAAP net loss per basic and diluted share, and free cash flow. In computing these measures, with the exception of free cash flow, we exclude the effects of stock-based compensation expense. We define free cash flow as net cash used in operating activities, less the purchases of property and equipment. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and our non-GAAP measures may be different from non-GAAP measures used by other companies.
We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses and expenditures that may not be indicative of our ongoing core business operating results. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and planning, forecasting, and analyzing future periods.
For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables captioned "Results of Operations GAAP to Non-GAAP Reconciliation" included at the end of this release. We have not reconciled guidance for non-GAAP metrics to their most directly comparable GAAP measures because such items that impact these measures are not within our control or cannot be reasonably predicted.
| Apptio, Inc. |
||||||||||||||||
| Condensed Consolidated Statements of Operations |
||||||||||||||||
| (In thousands, except per share amounts) |
||||||||||||||||
| (Unaudited) |
||||||||||||||||
| Three Months Ended |
Nine Months Ended |
|||||||||||||||
| September 30, |
September 30, |
|||||||||||||||
| 2017 |
2016 |
2017 |
2016 |
|||||||||||||
| Revenue |
||||||||||||||||
| Subscription |
$ |
39,426 |
$ |
33,314 |
$ |
112,860 |
$ |
94,995 |
||||||||
| Professional services |
7,570 |
7,313 |
23,292 |
21,254 |
||||||||||||
| Total revenue |
46,996 |
40,627 |
136,152 |
116,249 |
||||||||||||
| Cost of revenue |
||||||||||||||||
| Subscription |
7,167 |
6,921 |
22,269 |
19,960 |
||||||||||||
| Professional services |
6,763 |
7,068 |
21,599 |
19,780 |
||||||||||||
| Total cost of revenue |
13,930 |
13,989 |
43,868 |
39,740 |
||||||||||||
| Gross profit |
33,066 |
26,638 |
92,284 |
76,509 |
||||||||||||
| Operating expenses |
||||||||||||||||
| Research and development |
10,139 |
9,015 |
30,060 |
26,072 |
||||||||||||
| Sales and marketing |
20,863 |
18,300 |
60,983 |
54,256 |
||||||||||||
| General and administrative |
7,188 |
6,285 |
20,342 |
16,969 |
||||||||||||
| Total operating expenses |
38,190 |
33,600 |
111,385 |
97,297 |
||||||||||||
| Loss from operations |
(5,124) |
(6,962) |
(19,101) |
(20,788) |
||||||||||||
| Other income (expense) |
||||||||||||||||
| Interest income (expense) and other, net |
311 |
(1,312) |
811 |
(1,746) |
||||||||||||
| Foreign exchange gain (loss) |
105 |
(367) |
173 |
(774) |
||||||||||||
| Loss before provision for income taxes |
(4,708) |
(8,641) |
(18,117) |
(23,308) |
||||||||||||
| Provision for income taxes |
(463) |
(114) |
(614) |
(328) |
||||||||||||
| Net loss |
$ |
(5,171) |
$ |
(8,755) |
$ |
(18,731) |
$ |
(23,636) |
||||||||
| Net loss per share attributable to common stockholders, basic and diluted |
$ |
(0.13) |
$ |
(0.63) |
$ |
(0.48) |
$ |
(1.78) |
||||||||
| Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted |
40,120 |
13,884 |
39,240 |
13,307 |
||||||||||||
| Apptio, Inc. |
||||||||
| Condensed Consolidated Balance Sheets |
||||||||
| (In thousands) |
||||||||
| (Unaudited) |
||||||||
| September 30, |
December 31, |
|||||||
| 2017 |
2016 |
|||||||
| Assets |
||||||||
| Current assets |
||||||||
| Cash and cash equivalents |
$ |
29,279 |
$ |
42,007 |
||||
| Short-term investments |
106,249 |
36,741 |
||||||
| Accounts receivable, net of allowance for doubtful accounts |
||||||||
| of $305 and $122 |
46,136 |
58,587 |
||||||
| Prepaid expenses and other current assets |
5,530 |
5,440 |
||||||
| Total current assets |
187,194 |
142,775 |
||||||
| Long-term assets |
||||||||
| Property and equipment, net of accumulated depreciation |
||||||||
| of $20,982 and $17,091 |
11,168 |
12,827 |
||||||
| Long-term investments |
-- |
38,446 |
||||||
| Other long-term assets |
944 |
734 |
||||||
| Total assets |
$ |
199,306 |
$ |
194,782 |
||||
| Liabilities and Stockholders' Equity |
||||||||
| Current liabilities |
||||||||
| Accounts payable |
$ |
3,995 |
$ |
3,574 |
||||
| Accrued payroll and other expenses |
14,568 |
14,073 |
||||||
| Deferred revenue |
96,609 |
97,885 |
||||||
| Deferred rent |
868 |
799 |
||||||
| Capital leases |
27 |
43 |
||||||
| Total current liabilities |
116,067 |
116,374 |
||||||
| Long-term liabilities |
||||||||
| Deferred revenue, net of current portion |
3,602 |
2,254 |
||||||
| Deferred rent, net of current portion |
3,709 |
4,360 |
||||||
| Capital leases, net of current portion |
31 |
51 |
||||||
| Asset retirement obligation |
194 |
175 |
||||||
| Total liabilities |
123,603 |
123,214 |
||||||
| Stockholders' equity |
||||||||
| Class A and Class B Common stock |
4 |
4 |
||||||
| Additional paid-in capital |
294,848 |
271,982 |
||||||
| Accumulated other comprehensive loss |
(94) |
(94) |
||||||
| Accumulated deficit |
(219,055) |
(200,324) |
||||||
| Total stockholders' equity |
75,703 |
71,568 |
||||||
| Total liabilities and stockholders' equity |
$ |
199,306 |
$ |
194,782 |
||||
| Apptio, Inc. |
||||||||||||||||
| Condensed Consolidated Statements of Cash Flows |
||||||||||||||||
| (In thousands) |
||||||||||||||||
| (Unaudited) |
||||||||||||||||
| Three Months Ended |
Nine Months Ended |
|||||||||||||||
| September 30, |
September 30, |
|||||||||||||||
| 2017 |
2016 |
2017 |
2016 |
|||||||||||||
| Cash flows from operating activities |
||||||||||||||||
| Net loss |
$ |
(5,171) |
$ |
(8,755) |
$ |
(18,731) |
$ |
(23,636) |
||||||||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities |
||||||||||||||||
| Depreciation and amortization |
1,575 |
1,502 |
4,657 |
4,487 |
||||||||||||
| Amortization of premiums on investments |
5 |
5 |
59 |
20 |
||||||||||||
| Loss on disposal of property and equipment |
11 |
1 |
7 |
26 |
||||||||||||
| Stock-based compensation |
4,357 |
2,487 |
11,667 |
6,902 |
||||||||||||
| Accretion of expense on line of credit fees |
-- |
55 |
18 |
127 |
||||||||||||
| Loss on extinguishment of debt |
-- |
722 |
-- |
722 |
||||||||||||
| Remeasurement of preferred stock warrant liability |
-- |
210 |
-- |
202 |
||||||||||||
| Foreign exchange gain |
(105) |
-- |
(173) |
-- |
||||||||||||
| Change in operating assets and liabilities |
||||||||||||||||
| Accounts receivable |
4,696 |
1,759 |
12,026 |
10,302 |
||||||||||||
| Prepaid expenses and other assets |
1,779 |
101 |
3,260 |
(660) |
||||||||||||
| Accounts payable |
(402) |
173 |
635 |
1,648 |
||||||||||||
| Accrued expenses |
(298) |
(500) |
(2,025) |
(2,442) |
||||||||||||
| Deferred revenue |
2,892 |
1,576 |
72 |
535 |
||||||||||||
| Deferred rent |
(198) |
(115) |
(596) |
(421) |
||||||||||||
| Net cash provided by (used in) operating activities |
9,141 |
(779) |
10,876 |
(2,188) |
||||||||||||
| Cash flows from investing activities |
||||||||||||||||
| Purchases of property and equipment |
(601) |
(1,198) |
(2,837) |
(3,518) |
||||||||||||
| Proceeds from sale of equipment |
2 |
-- |
11 |
-- |
||||||||||||
| Proceeds from maturities of investments |
15,375 |
-- |
35,075 |
6,245 |
||||||||||||
| Purchases of investments |
(37,298) |
(10,826) |
(66,196) |
(10,826) |
||||||||||||
| Payment of security deposits |
6 |
9 |
(23) |
(43) |
||||||||||||
| Net cash used in investing activities |
(22,516) |
(12,015) |
(33,970) |
(8,142) |
||||||||||||
| Cash flows from financing activities |
||||||||||||||||
| Proceeds from exercise of common stock options |
3,453 |
489 |
8,948 |
1,000 |
||||||||||||
| Proceeds from purchases of stock under employee stock purchase plan |
-- |
-- |
2,251 |
-- |
||||||||||||
| Proceeds from initial public offering |
-- |
102,672 |
-- |
102,672 |
||||||||||||
| Payment of initial public offering costs |
-- |
(356) |
(243) |
(574) |
||||||||||||
| Proceeds from long-term debt |
-- |
-- |
-- |
20,000 |
||||||||||||
| Principal payments on long-term debt |
-- |
(20,000) |
-- |
(20,000) |
||||||||||||
| Payment of debt prepayment fees |
-- |
(200) |
-- |
(200) |
||||||||||||
| Principal payments on capital lease obligations |
(11) |
(10) |
(32) |
(33) |
||||||||||||
| Payment of capitalized loan fees |
-- |
(12) |
-- |
(248) |
||||||||||||
| Net cash provided by financing activities |
3,442 |
82,583 |
10,924 |
102,617 |
||||||||||||
| Foreign currency effect on cash, cash equivalents and restricted cash |
(622) |
(129) |
(558) |
(331) |
||||||||||||
| Net (decrease) increase in cash, cash equivalents and restricted cash |
(10,555) |
69,660 |
(12,728) |
91,956 |
||||||||||||
| Cash, cash equivalents and restricted cash |
||||||||||||||||
| Beginning of period |
39,834 |
42,052 |
42,007 |
19,756 |
||||||||||||
| End of period |
$ |
29,279 |
$ |
111,712 |
$ |
29,279 |
$ |
111,712 |
||||||||
| Apptio, Inc. |
|||||||||||||||
| Results of Operations GAAP to Non-GAAP Reconciliation |
|||||||||||||||
| (In thousands, except per share data) |
|||||||||||||||
| (Unaudited) |
|||||||||||||||
| Three Months Ended |
Nine Months Ended |
||||||||||||||
| September 30, |
September 30, |
||||||||||||||
| 2017 |
2016 |
2017 |
2016 |
||||||||||||
| Revenue |
|||||||||||||||
| Subscription |
$ |
39,426 |
$ |
33,314 |
$ |
112,860 |
$ |
94,995 |
|||||||
| Professional services |
7,570 |
7,313 |
23,292 |
21,254 |
|||||||||||
| Total revenue |
46,996 |
40,627 |
136,152 |
116,249 |
|||||||||||
| Cost of revenue reconciliation: |
|||||||||||||||
| GAAP subscription |
7,167 |
6,921 |
22,269 |
19,960 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
(330) |
(232) |
(927) |
(564) |
|||||||||||
| Non-GAAP subscription cost of revenue |
6,837 |
6,689 |
21,342 |
19,396 |
|||||||||||
| GAAP professional services |
6,763 |
7,068 |
21,599 |
19,780 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
(294) |
(190) |
(842) |
(557) |
|||||||||||
| Non-GAAP professional services cost of revenue |
$ |
6,469 |
$ |
6,878 |
$ |
20,757 |
$ |
19,223 |
|||||||
| Gross profit and gross margin reconciliation: |
|||||||||||||||
| GAAP subscription gross profit |
$ |
32,259 |
$ |
26,393 |
$ |
90,591 |
$ |
75,035 |
|||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
330 |
232 |
927 |
564 |
|||||||||||
| Non-GAAP subscription gross profit |
32,589 |
26,625 |
91,518 |
75,599 |
|||||||||||
| GAAP subscription gross margin |
81.8 |
% |
79.2 |
% |
80.3 |
% |
79.0 |
% |
|||||||
| Non-GAAP subscription gross margin |
82.7 |
% |
79.9 |
% |
81.1 |
% |
79.6 |
% |
|||||||
| GAAP professional services gross profit |
807 |
245 |
1,693 |
1,474 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
294 |
190 |
842 |
557 |
|||||||||||
| Non-GAAP professional services gross profit |
1,101 |
435 |
2,535 |
2,031 |
|||||||||||
| GAAP professional services gross margin |
10.7 |
% |
3.4 |
% |
7.3 |
% |
6.9 |
% |
|||||||
| Non-GAAP professional services gross margin |
14.5 |
% |
5.9 |
% |
10.9 |
% |
9.6 |
% |
|||||||
| GAAP gross profit |
33,066 |
26,638 |
92,284 |
76,509 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
624 |
422 |
1,769 |
1,121 |
|||||||||||
| Non-GAAP gross profit |
$ |
33,690 |
$ |
27,060 |
$ |
94,053 |
$ |
77,630 |
|||||||
| GAAP gross margin |
70.4 |
% |
65.6 |
% |
67.8 |
% |
65.8 |
% |
|||||||
| Non-GAAP gross margin |
71.7 |
% |
66.6 |
% |
69.1 |
% |
66.8 |
% |
|||||||
| Operating expenses reconciliation: |
|||||||||||||||
| GAAP research and development |
$ |
10,139 |
$ |
9,015 |
$ |
30,060 |
$ |
26,072 |
|||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
(1,179) |
(698) |
(3,332) |
(1,965) |
|||||||||||
| Non-GAAP research and development |
8,960 |
8,317 |
26,728 |
24,107 |
|||||||||||
| As a % of total revenue, non-GAAP |
19.1 |
% |
20.5 |
% |
19.6 |
% |
20.7 |
% |
|||||||
| GAAP sales and marketing |
20,863 |
18,300 |
60,983 |
54,256 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
(1,239) |
(735) |
(3,316) |
(2,176) |
|||||||||||
| Non-GAAP sales and marketing |
19,624 |
17,565 |
57,667 |
52,080 |
|||||||||||
| As a % of total revenue, non-GAAP |
41.8 |
% |
43.2 |
% |
42.4 |
% |
44.8 |
% |
|||||||
| GAAP General and administrative |
7,188 |
6,285 |
20,342 |
16,969 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
(1,315) |
(632) |
(3,250) |
(1,640) |
|||||||||||
| Non-GAAP general and administrative |
5,873 |
5,653 |
17,092 |
15,329 |
|||||||||||
| As a % of total revenue, non-GAAP |
12.5 |
% |
13.9 |
% |
12.6 |
% |
13.2 |
% |
|||||||
|
Loss from operations reconciliation: |
|||||||||||||||
| GAAP loss from operations |
(5,124) |
(6,962) |
(19,101) |
(20,788) |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
4,357 |
2,487 |
11,667 |
6,902 |
|||||||||||
| Non-GAAP loss from operations |
$ |
(767) |
$ |
(4,475) |
$ |
(7,434) |
$ |
(13,886) |
|||||||
| Loss from operations as a percentage of revenue: |
|||||||||||||||
| GAAP loss from operations |
(10.9%) |
(17.1%) |
(14.0%) |
(17.9%) |
|||||||||||
| Non-GAAP loss from operations |
(1.6%) |
(11.0%) |
(5.5%) |
(11.9%) |
|||||||||||
| Net loss reconciliation: |
|||||||||||||||
| GAAP |
$ |
(5,171) |
$ |
(8,755) |
$ |
(18,731) |
$ |
(23,636) |
|||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
4,357 |
2,487 |
11,667 |
6,902 |
|||||||||||
| Non-GAAP Net loss |
$ |
(814) |
$ |
(6,268) |
$ |
(7,064) |
$ |
(16,734) |
|||||||
| Basic and diluted net loss per share |
|||||||||||||||
| reconciliation: |
|||||||||||||||
| GAAP |
$ |
(0.13) |
$ |
(0.63) |
$ |
(0.48) |
$ |
(1.78) |
|||||||
| Non-GAAP |
$ |
(0.02) |
$ |
(0.45) |
$ |
(0.18) |
$ |
(1.26) |
|||||||
| Shares used to compute basic and diluted GAAP |
|||||||||||||||
| and Non-GAAP net loss per share |
40,120 |
13,884 |
39,240 |
13,307 |
|||||||||||
| Apptio, Inc. |
||||||||||||||||
| Free Cash Flow Non-GAAP Reconciliation |
||||||||||||||||
| (In thousands) |
||||||||||||||||
| (Unaudited) |
||||||||||||||||
| Three Months Ended |
Nine Months Ended |
|||||||||||||||
| September 30, |
September 30, |
|||||||||||||||
| 2017 |
2016 |
2017 |
2016 |
|||||||||||||
| Net cash provided by (used in) operating activities |
$ |
9,141 |
$ |
(779) |
$ |
10,876 |
$ |
(2,188) |
||||||||
| Less: purchases of property and equipment |
(601) |
(1,198) |
(2,837) |
(3,518) |
||||||||||||
| Free cash flow |
$ |
8,540 |
$ |
(1,977) |
$ |
8,039 |
$ |
(5,706) |
||||||||
| Apptio, Inc. |
||||||||||||||||||||
| Free Cash Flow Non-GAAP Reconciliation |
||||||||||||||||||||
| (In thousands) |
||||||||||||||||||||
| (Unaudited) |
||||||||||||||||||||
| Three Months Ended |
Twelve |
|||||||||||||||||||
| December |
March 31, |
June 30, |
September |
September |
||||||||||||||||
| 2016 |
2017 |
2017 |
2017 |
2017 |
||||||||||||||||
| Net cash (used in) provided by operating activities |
$ |
(1,806) |
$ |
11,913 |
$ |
(10,178) |
$ |
9,141 |
$ |
9,070 |
||||||||||
| Less: purchases of property and equipment |
(1,884) |
(1,545) |
(691) |
(601) |
(4,721) |
|||||||||||||||
| Free cash flow |
$ |
(3,690) |
$ |
10,368 |
$ |
(10,869) |
$ |
8,540 |
$ |
4,349 |
||||||||||
© 2017 Apptio, Inc. All rights reserved. Apptio and the Apptio logo are registered trademarks of Apptio, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.
Investor Contact:
Susanna Morgan
(425) 279-6101
[email protected]
Media Contact:
Sarah Vreugdenhil
(425) 279-6097
[email protected]
SOURCE Apptio
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