Amber Road, Inc. (NYSE: AMBR), a leading provider of global
trade management (GTM) solutions, today announced its financial
results for the fourth quarter and full year ended
December 31, 2015.
Jim Preuninger, Chief Executive Officer of Amber Road, stated,
“We ended 2015 on a very strong note, capping the year with record
quarterly bookings, highlighting that the underlying fundamentals
of our business saw meaningful improvement in the second half of
the year. We added a significant number of new customers
during 2015, and ended the year with the largest pipeline in the
Company’s history. We feel confident about the positive drivers of
our business, the strength and breadth of our product portfolio,
and the increasing productivity and tenure of our sales force. We
believe that in 2016 we can drive strong growth, meaningfully
reduce our operating losses and use minimal cash. We are in a solid
financial position and will make good progress on our path towards
profitability.”
Fourth Quarter 2015 Financial Highlights
Revenue
- GAAP total revenue was $17.2 million,
compared to $17.6 million in the fourth quarter of 2014.
- Non-GAAP total revenue(1) was $17.5
million, which includes an adjustment of $0.3 million related to
the purchase accounting deferred revenue adjustment associated with
our acquisition of ecVision.
- GAAP Subscription revenue was $12.9
million, compared to $12.6 million in the fourth quarter of
2014.
- GAAP Professional Services revenue was
$4.3 million, compared to $5.1 million in the fourth quarter of
2014.
Operating (Loss) Income
- GAAP operating loss was $(6.4) million,
compared to $(1.1) million in the comparable period in 2014.
- Non-GAAP adjusted operating (loss)
income(2) was $(5.2) million, compared to $0.1 million in the
comparable period in 2014.
Net Loss attributable to common
stockholders
- GAAP net loss attributable to common
stockholders was $(6.6) million, compared to $(1.3) million for the
comparable period in 2014.
- GAAP basic and diluted net loss per
common share was $(0.25), compared to $(0.05) for the comparable
period in 2014, based on 26.3 million and 25.6 million basic and
diluted weighted average common shares outstanding,
respectively.
- Non-GAAP adjusted net loss(2) was
$(5.5) million, compared to $(0.1) million in the comparable period
in 2014.
- Non-GAAP adjusted net loss per common
share was $(0.21), compared to $0.00 for the comparable period in
2014, based on 26.3 million and 25.6 million basic and diluted
weighted average common shares outstanding, respectively.
Adjusted EBITDA
- Adjusted EBITDA was $(2.7) million for
the three months ended December 31, 2015 and $1.4 million in
the comparable period in 2014.
Full Year 2015 Financial Highlights
Revenue
- GAAP total revenue was $67.1 million,
compared to $64.8 million in 2014.
- Non-GAAP total revenue(1) was $68.6
million, which includes an adjustment of $1.5 million related to
the purchase accounting deferred revenue adjustment associated with
our acquisition of ecVision.
- GAAP Subscription revenue was $47.1
million, compared to $45.1 million in 2014.
- GAAP Professional Services revenue was
$20.0 million, compared to $19.7 million in 2014.
Operating Loss
- GAAP operating loss was $(27.0)
million, compared to $(26.9) million in 2014.
- Non-GAAP adjusted operating loss(2) was
$(18.1) million, compared to $(2.1) million in 2014.
Net Loss attributable to common
stockholders
- GAAP net loss attributable to common
stockholders was $(28.1) million, compared to $(30.1) million in
2014.
- GAAP basic and diluted net loss per
common share was $(1.07), compared to $(1.46) in 2014, based on
26.2 million and 20.6 million basic and diluted weighted average
common shares outstanding, respectively.
- Non-GAAP adjusted net loss was $(19.2)
million, compared to $(3.0) million in 2014.
- Non-GAAP adjusted net loss per common
share was $(0.73), compared to $(0.12) in 2014, based on 26.2
million and 25.3 million basic and diluted weighted average common
shares outstanding, respectively.
Adjusted EBITDA
- Adjusted EBITDA was $(10.5) million for
2015 compared to $2.8 million in 2014.
Balance Sheet and Cash Flow
- Cash and cash equivalents at
December 31, 2015 totaled $17.9 million, compared with $41.2
million at December 31, 2014.
- Cash used in operating activities was
$(13.2) million for the year ended of 2015, compared to $(8.3)
million for the year ended of 2014.
A reconciliation of GAAP operating loss and net loss to Non-GAAP
adjusted operating loss and net loss, of GAAP net loss to Adjusted
EBITDA and of GAAP total revenue to Non-GAAP total revenue has been
provided in the financial statement tables included in this press
release. An explanation of these measures is also included below
under the heading “Non-GAAP Financial Measures.”
Fourth Quarter 2015 and Recent Business Highlights
- Announced that Siemens AG has selected
Amber Road’s China Trade Management solution to centralize and
automate Customs and China Inspection and Quarantine (CIQ)
procedures for all of Siemens’ China-related import and export
activities.
- Announced that Nexteer Automotive
expanded its use of Amber Road’s China Trade Management Solution to
automate compliance with China’s trade regulation regimes and
enhance supply chain performance.
- Announced that Mercury Marine, a
leading marine engine manufacturer, is using Amber Road’s
Foreign-Trade Zone (FTZ) software to manage its FTZ operations at
its new distribution center in St. Louis.
- Announced that Heraeus, a leading
Germany-headquartered technology company, implemented its Global
Product Master solution to centralize product classification for
the global group, replacing largely manual classification processes
handled ad-hoc by the various business units.
- Sponsored a recent Supply Chain Digest
benchmark report on global sourcing and trade management practices,
processes and technologies. The majority (68 percent) of
respondents felt they had underinvested in technology necessary to
meet the challenges of modern supply chains. Most notably, the
research uncovered that challenges faced by supply chain executives
today are driving the dawn of a new era of globalization, known as
“Globalization 3.0.” Companies that excel in global execution -
strategies, processes, agility and visibility - have a substantial
competitive advantage over rivals.
Business Outlook
Based on information available as of February 11, 2016,
Amber Road is issuing guidance for the first quarter and full year
2016 as indicated below:
First Quarter 2016:
- Total non-GAAP revenue(1) is expected
to be in the range of $16.5 million to $17.1 million.
- Non-GAAP adjusted operating loss(2) is
expected to be in the range of $(4.2) million to $(4.8)
million.
- Non-GAAP adjusted net loss per common
share(2) is expected to be in the range of $(0.17) to $(0.19). This
assumes 26.5 million basic shares outstanding.
Full Year 2016:
- Total non-GAAP revenue(1) is expected
to be in the range of $72.0 million to $75.0 million.
- Non-GAAP adjusted operating loss(2) is
expected to be in the range of $(11.9) million to $(14.9)
million.
- Non-GAAP adjusted net loss per common
share(2) is expected to be in the range of $(0.49) to $(0.61). This
assumes 26.6 million basic shares outstanding.
Endnotes:
(1) For 2015 and 2016, non-GAAP total revenue includes the
purchase accounting deferred revenue adjustment.
(2) For 2015 and 2016, non-GAAP adjusted operating and net loss
excludes stock-based compensation, puttable stock compensation,
change in fair value of contingent consideration, acquisition
compensation costs, purchase accounting adjustment to deferred
revenue and acquisition related costs. For 2014, non-GAAP adjusted
operating loss excludes stock-based compensation, restricted stock
expense, compensation related to loan forgiveness, puttable stock
compensation, change in fair value of contingent consideration
liability, warrant expense and severance costs.
Conference Call Information
Amber Road will host a conference call on Thursday,
February 11, 2016 at 5:00 p.m. Eastern Time (ET) to discuss
the Company’s fourth quarter and full year financial results and
its business outlook. To access this call, dial 888-337-8169
(domestic) or (719) 325-2354 (international). The conference ID is
7835243. Additionally, a live webcast of the conference call will
be available in the “Investor Relations” section of the Company’s
web site at www.AmberRoad.com.
Following the conference call, a replay will be available at
877-870-5176 (domestic) or 858-384-5517 (international) from
February 11, 2016, 8:00pm EST to February 18, 2016, 11:59pm EST.
The replay pass code is 7835243. An archived webcast of this
conference call will also be available in the “Investor Relations”
section of the Company’s web site at www.AmberRoad.com.
About Amber Road
Amber Road’s (NYSE: AMBR) mission is to improve the way
companies manage their international supply chains and conduct
global trade. As a leading provider of cloud based global trade
management (GTM) solutions, we automate the global supply chain
across sourcing, logistics, cross-border trade, and regulatory
compliance activities to dramatically improve operating
efficiencies and financial performance. This includes collaborating
with suppliers on development, sourcing and quality assurance;
executing import and export compliance checks and generating
international shipping documentation; booking international
carriers and tracking goods as they move around the world; and
minimizing the associated duties through preferential trade
agreements and foreign trade zones. Our solution combines
enterprise-class software, trade content sourced from government
agencies and transportation providers in 145 countries, and a
global supply chain network connecting our customers with their
trading partners, including suppliers, testing/auditing firms,
freight forwarders, customs brokers and transportation carriers. We
deliver our GTM solution using a Software-as-a-Service (SaaS) model
and leverage a highly flexible technology framework to quickly and
efficiently meet our customers’ unique requirements around the
world. For more information, please visit www.AmberRoad.com, email
Solutions@AmberRoad.com or call 201-935-8588.
Non-GAAP Financial Measures
To provide investors with additional information regarding our
financial results, Amber Road has provided within this press
release non-GAAP adjusted operating and net loss, adjusted EBITDA
and non-GAAP total revenue, financial measures that are not
calculated in accordance with generally accepted accounting
principles, or GAAP. Provided below is a reconciliation of GAAP
operating and net loss to non-GAAP adjusted operating and net loss,
net loss to adjusted EBITDA and GAAP total revenue to Non-GAAP
total revenue. EBITDA consists of net loss plus depreciation and
amortization, interest expense (income) and income tax expense.
Adjusted EBITDA consists of EBITDA plus stock-based compensation,
restricted stock expense, compensation expense related to loan
forgiveness, puttable stock compensation, changes in the fair value
of contingent consideration liability, warrant expense, severance
costs, purchase accounting adjustment to deferred revenue,
acquisition compensation costs and acquisition related costs.
Non-GAAP total revenue is defined as GAAP total revenue before
purchase accounting adjustments as a result of an acquisition.
Amber Road has included these non-GAAP measures in this press
release because it assists in comparing performance on a consistent
basis across reporting periods, as it removes from operating
results the impact of the Company’s capital structure. Amber Road
believes these non-GAAP measures are useful to an investor in
evaluating its operating performance because they are often used by
the financial community to measure a company’s operating
performance without regard to items such as depreciation and
amortization, which can vary depending upon accounting methods and
the book value of assets, and to present a meaningful measure of
performance exclusive of its capital structure and the method by
which assets were acquired.
Amber Road’s use of these non-GAAP measures has limitations as
an analytical tool, and you should not consider it in isolation or
as a substitute for analysis of its results as reported under GAAP.
Some of these limitations are:
- although depreciation and amortization
are non-cash charges, the assets being depreciated and amortized
may have to be replaced in the future, and these non-GAAP measures
do not reflect cash capital expenditure requirements for such
replacements or for new capital expenditure requirements;
- these non-GAAP measures do not reflect
changes in, or cash requirements for, working capital needs;
- these non-GAAP measures do not reflect
the potentially dilutive impact of equity-based compensation;
- these non-GAAP measures do not reflect
interest or tax payments that may represent a reduction in cash
available; and
- other companies, including companies in
Amber Road’s industry, may calculate adjusted EBITDA differently,
which reduces its usefulness as a comparative measure.
Because of these and other limitations, you should consider
these non-GAAP measures together with other GAAP-based financial
performance measures, including various cash flow metrics, net loss
and other GAAP results. A reconciliation of GAAP operating and net
loss to non-GAAP adjusted operating and net loss, and adjusted
EBITDA, and GAAP total revenue to non-GAAP total revenue, has been
provided in the financial statement tables included in this press
release.
Cautionary Language Concerning Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are not historical facts, but
instead represent only our current expectations and beliefs, and
therefore, contain risks and uncertainties about future events or
our future financial performance, including, but not limited to,
achieving revenue from bookings, closing business from the sales
pipeline, new customer deployments and maintaining these
relationships, the ability to reduce operating losses and use of
cash, and attaining profitability. In some cases, you can identify
forward-looking statements by terminology such as “may,” “will,”
“could,” “should,” “expect,” “intend,” “plan,” “anticipate,”
“believe,” “estimate,” “predict,” “potential,” or “continue,” and
similar expressions, whether in the negative or affirmative. 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 in our filings with the Securities and
Exchange Commission (SEC), including, without limitation, our
annual, periodic and current SEC reports. These factors may cause
our actual results to differ materially from any forward-looking
statement. 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 to
update any of the forward-looking statements after the date of this
press release, even though our situation may change in the
future.
AMBER ROAD, INC. AND
SUBSIDIARIES
Consolidated Balance Sheets
(Unaudited)
December 31, 2015 2014
Assets Current assets: Cash and cash equivalents $
17,854,523 $ 41,242,200 Accounts receivable, net 18,308,547
15,645,386 Unbilled receivables 1,024,861 254,243 Deferred
commissions 3,767,432 3,322,553 Prepaid expenses and other current
assets 2,058,430 1,445,964 Total current assets
43,013,793 61,910,346 Property and equipment, net 12,180,109
12,918,540 Goodwill 43,913,185 24,476,157 Other intangibles, net
7,673,661 1,011,526 Deferred commissions 7,007,518 6,906,165
Deposits and other assets 953,736 1,007,923 Total
assets $ 114,742,002 $ 108,230,657
Liabilities and
Stockholders’ Equity Current liabilities: Accounts payable
1,451,463 1,733,209 Accrued expenses 8,805,159 8,043,759 Current
portion of capital lease obligations 1,598,450 1,321,610 Deferred
revenue 30,532,404 26,168,358 Current portion of term loan, net of
discount 366,667 — Total current liabilities
42,754,143 37,266,936 Capital lease obligations, less current
portion 1,916,944 2,141,584 Deferred revenue, less current portion
2,393,345 1,753,886 Term loan, net of discount, less current
portion 14,271,527 — Revolving credit facility 5,000,000 — Other
noncurrent liabilities 3,909,728 2,109,544 Total
liabilities 70,245,687 43,271,950 Commitments and
contingencies Stockholders’ equity:
Common stock, $0.001 par value;
100,000,000 shares authorized; issued and outstanding
26,260,459 and 25,765,792 shares at
December 31, 2015 and 2014, respectively
26,261 25,766 Additional paid-in capital 181,457,089 173,665,585
Accumulated other comprehensive loss (783,209 ) (607,492 )
Accumulated deficit (136,203,826 ) (108,125,152 ) Total
stockholders’ equity 44,496,315 64,958,707 Total
liabilities and stockholders’ equity $ 114,742,002 $
108,230,657
AMBER ROAD, INC. AND
SUBSIDIARIES
Consolidated Statements of
Operations
(Unaudited)
Three Months Ended December 31, Year Ended
December 31, 2015 2014 2015
2014 Revenue: Subscription $ 12,894,250 $ 12,559,820 $
47,067,117 $ 45,142,117 Professional services 4,307,962
5,052,873 20,042,803 19,691,349 Total revenue
17,202,212 17,612,693 67,109,920 64,833,466
Cost of revenue (1): Cost of subscription revenue 5,602,278
3,810,791 20,041,196 14,586,245 Cost of professional services
revenue 3,878,512 3,434,100 16,852,844
12,901,935 Total cost of revenue 9,480,790 7,244,891
36,894,040 27,488,180 Gross profit 7,721,422
10,367,802 30,215,880 37,345,286
Operating expenses (1): Sales and marketing 6,004,056 5,352,964
24,200,504 20,033,251 Research and development 4,547,878 2,684,988
16,448,625 9,745,137 General and administrative 3,522,755 3,460,834
16,528,568 15,761,895 Restricted stock expense — — —
18,683,277 Total operating expenses 14,074,689
11,498,786 57,177,697 64,223,560 Loss from
operations (6,353,267 ) (1,130,984 ) (26,961,817 ) (26,878,274 )
Interest income 12,254 90 61,414 2,009 Interest expense (255,286 )
(57,634 ) (910,046 ) (275,074 ) Loss before income taxes (6,596,299
) (1,188,528 ) (27,810,449 ) (27,151,339 ) Income tax expense
50,756 152,169 268,225 552,619 Net loss
(6,647,055 ) (1,340,697 ) (28,078,674 ) (27,703,958 )
Accretion of redeemable convertible
preferred stock and
puttable common stock
— — — (2,416,505 ) Net loss attributable to
common stockholders $ (6,647,055 ) $ (1,340,697 ) $ (28,078,674 ) $
(30,120,463 ) Net loss per common share: Basic and diluted $
(0.25 ) $ (0.05 ) $ (1.07 ) $ (1.46 ) Weighted-average
common shares outstanding: Basic and diluted 26,324,177
25,553,069 26,152,301 20,623,760
(1) Includes
stock-based compensation as follows:
Three Months Ended December
31, Year Ended December 31, 2015 2014
2015 2014 Cost of subscription revenue $ 106,539 $
140,543 $ 766,498 $ 289,611 Cost of professional services revenue
79,685 94,852 515,354 189,598 Sales and marketing 122,759 179,337
821,177 346,545 Research and development 216,400 240,525 1,077,638
486,031 General and administrative 280,866 762,854
3,279,635 1,434,988 $ 806,249 $ 1,418,111 $
6,460,302 $ 2,746,773
AMBER ROAD, INC. AND
SUBSIDIARIES
Consolidated Statements of Cash
Flows
(Unaudited)
Year Ended December 31, 2015
2014 Cash flows from operating activities: Net loss $
(28,078,674 ) $ (27,703,958 ) Adjustments to reconcile net loss to
net cash used in operating activities: Depreciation and
amortization 7,575,783 4,896,713 Bad debt expense 80,571 47,006
Stock-based compensation 6,460,302 2,746,773 Loss on asset
impairment — 11,964 Restricted stock non-cash compensation —
18,683,277 Compensation related to puttable common stock 54,764
54,764 Acquisition related deferred compensation 946,590 — Changes
in fair value of contingent consideration liability (1,350,441 )
(43,855 ) Change in fair value of warrant liability — 1,244,635
Amortization of debt financing costs and accretion of debt discount
56,382 43,858 Changes in operating assets and liabilities: Accounts
receivable (876,273 ) (4,684,880 ) Unbilled receivables (782,691 )
(113,471 ) Prepaid expenses and other assets (863,713 ) (801,221 )
Accounts payable (316,655 ) (182,112 ) Accrued expenses (304,962 )
432,225 Other liabilities (281,876 ) (102,032 ) Deferred revenue
4,451,731 (2,833,077 ) Net cash used in operating activities
(13,229,162 ) (8,303,391 ) Cash flows from investing activities:
Capital expenditures (1,385,082 ) (723,475 ) Addition of
capitalized software development costs (1,926,302 ) (1,970,963 )
Addition of intangible assets (275,000 ) — Acquisition, net of cash
acquired of $1,569,867 (25,717,078 ) — Cash (paid) received for
deposits (21,989 ) 226,690 Decrease in restricted cash 112,815
56,409 Net cash used in investing activities
(29,212,636 ) (2,411,339 ) Cash flows from financing activities:
Proceeds from revolving line of credit 5,000,000 — Payments on
revolving line of credit — (6,978,525 ) Proceeds from term loan
20,000,000 — Payments on term loan (5,343,750 ) — Debt discount and
financing costs (188,743 ) — Repayments on capital lease
obligations (1,493,664 ) (1,246,226 ) Proceeds from the exercise of
stock options 1,299,427 1,568,137 Taxes paid related to net share
settlement (22,494 ) — Proceeds from the exercise of common stock
warrant — 40,452 Payment of offering costs — (4,266,455 ) Proceeds
from initial public offering, net of underwriting discounts and
commissions — 57,824,899 Net cash provided by
financing activities 19,250,776 46,942,282 Effect of
exchange rate on cash and cash equivalents (196,655 ) (133,087 )
Net increase (decrease) in cash and cash equivalents (23,387,677 )
36,094,465 Cash and cash equivalents at beginning of period
41,242,200 5,147,735 Cash and cash equivalents at end
of period $ 17,854,523 $ 41,242,200
Reconciliation of Net Loss to Adjusted
EBITDA
(unaudited)
Three Months Ended Year Ended December
31, December 31, 2015 2014
2015 2014 Net loss $ (6,647,055 ) $ (1,340,697
) $ (28,078,674 ) $ (27,703,958 ) Depreciation and amortization
expense 2,498,537 1,279,933 7,575,783 4,896,713 Interest expense
255,286 57,634 910,046 275,074 Interest income (12,254 ) (90 )
(61,414 ) (2,009 ) Income tax expense 50,756 152,169
268,225 552,619 EBITDA (3,854,730 ) 148,949
(19,386,034 ) (21,981,561 ) Stock-based compensation 806,249
1,418,111 6,460,302 2,746,773 Restricted stock expense — — —
18,683,277 Compensation expense related to loan forgiveness — — —
927,093 Puttable stock compensation 13,691 13,691 54,764 54,764
Change in fair value of contingent consideration liability (291,000
) (166,681 ) (1,350,441 ) (43,855 ) Warrant expense — — — 1,244,635
Severance costs — — — 1,121,285 Purchase accounting deferred
revenue adjustment 310,095 — 1,530,719 — Acquisition compensation
costs 283,977 — 946,590 — Acquisition related costs 13,630 —
1,259,351 — Adjusted EBITDA $ (2,718,088 ) $
1,414,070 $ (10,484,749 ) $ 2,752,411
Reconciliation of GAAP Total Revenue to
Non-GAAP Total Revenue
(unaudited)
Three Months Ended Year Ended December
31, December 31, 2015 2014
2015 2014 Total revenue $ 17,202,212 $
17,612,693 $ 67,109,920 $ 64,833,466 Purchase accounting deferred
revenue adjustment 310,095 — 1,530,719 —
Non-GAAP total revenue $ 17,512,307 $ 17,612,693 $
68,640,639 $ 64,833,466
Reconciliation of Net Loss to Non-GAAP
Adjusted Net Loss
(unaudited)
Three Months Ended Year Ended December
31, December 31, 2015 2014
2015 2014 Net loss $ (6,647,055 ) $ (1,340,697
) $ (28,078,674 ) $ (27,703,958 ) Stock-based compensation 806,249
1,418,111 6,460,302 2,746,773 Restricted stock expense — — —
18,683,277 Compensation expense related to loan forgiveness — — —
927,093 Puttable stock compensation 13,691 13,691 54,764 54,764
Change in fair value of contingent consideration liability (291,000
) (166,681 ) (1,350,441 ) (43,855 ) Warrant expense — — — 1,244,635
Severance costs — — — 1,121,285 Purchase accounting deferred
revenue adjustment 310,095 — 1,530,719 — Acquisition compensation
costs 283,977 — 946,590 — Acquisition related costs 13,630 —
1,259,351 — Non-GAAP adjusted net loss $
(5,510,413 ) $ (75,576 ) $ (19,177,389 ) $ (2,969,986 )
Adjusted non-GAAP net loss per common share: Basic and diluted $
(0.21 ) $ 0.00 $ (0.73 ) $ (0.12 ) Weighted-average
common shares outstanding:
GAAP weighted average number of common
shares
outstanding - basic and diluted
26,324,177 25,553,069 26,152,301 20,623,760
Additional weighted average shares giving
effect to initial
public offering and conversion of
preferred stock at thebeginning of the period
— — — 4,637,210
Non-GAAP weighted average number of common
shares
outstanding - basic and diluted
26,324,177 25,553,069 26,152,301 25,260,970
Reconciliation of Loss from Operations
to Non-GAAP Adjusted (Loss) Income from Operations
(unaudited)
Three Months Ended Year Ended December
31, December 31, 2015 2014
2015 2014 Loss from operations $ (6,353,267 )
$ (1,130,984 ) $ (26,961,817 ) $ (26,878,274 ) Stock-based
compensation 806,249 1,418,111 6,460,302 2,746,773 Restricted stock
expense — — — 18,683,277 Compensation expense related to loan
forgiveness — — — 927,093 Puttable stock compensation 13,691 13,691
54,764 54,764 Change in fair value of contingent consideration
liability (291,000 ) (166,681 ) (1,350,441 ) (43,855 ) Warrant
expense — — — 1,244,635 Severance costs — — — 1,121,285 Purchase
accounting deferred revenue adjustment 310,095 — 1,530,719 —
Acquisition compensation costs 283,977 — 946,590 — Acquisition
related costs 13,630 — 1,259,351 —
Non-GAAP adjusted (loss) income from operations $ (5,216,625 ) $
134,137 $ (18,060,532 ) $ (2,144,302 )
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160211006329/en/
Media ContactAmber RoadKathleen Hickey,
+1-202-607-7553KathleenHickey@AmberRoad.comorInvestor Relations
ContactICRStaci Mortenson,
201-806-3663InvestorRelations@AmberRoad.comorAmber Road
ContactsUS & CanadaAnnika Helmrich,
+1-201-806-3656AnnikaHelmrich@AmberRoad.comorEurope &
AsiaMartijn van Gils, +31 858769534MartijnvanGils@AmberRoad.com
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