Shutterfly, inc. (SFLY)
Income statement / Quarterly
Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Net revenue

473,416

324,681

949,966

368,757

443,372

199,725

593,755

195,443

209,032

191,972

561,226

187,328

203,961

181,709

548,080

167,492

183,879

159,978

483,325

142,008

159,148

137,099

410,788

122,685

133,461

116,708

351,777

98,536

99,020

91,291

263,754

76,523

75,764

57,229

48,958

46,807

Cost of net revenue

240,513

210,399

377,563

224,738

233,228

126,046

254,218

131,108

118,205

116,119

230,048

117,754

109,592

108,723

228,733

107,991

96,647

94,707

203,316

89,726

83,335

76,343

164,716

71,308

71,716

61,853

138,965

55,129

50,710

50,053

108,468

41,647

39,881

29,546

24,906

23,179

Restructuring

-

-

-

0

-

-

0

39

196

1,240

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gross profit

232,903

114,282

572,403

144,019

210,144

73,679

339,537

64,296

90,631

74,613

331,178

69,574

94,369

72,986

319,347

59,501

87,232

65,271

280,009

52,282

75,813

60,756

246,072

51,377

61,745

54,855

212,812

43,407

48,310

41,238

155,286

34,876

35,883

27,683

24,052

23,628

Operating expenses:
Technology and development

49,606

48,332

49,342

44,735

44,420

38,504

43,416

39,614

39,398

45,955

44,043

43,284

41,313

38,269

43,390

38,066

36,502

37,360

36,521

33,488

32,131

31,483

30,963

27,508

26,497

24,027

24,770

21,538

20,930

18,508

17,485

18,106

16,971

13,113

11,602

12,477

Sales and marketing

135,468

119,370

202,095

135,375

130,643

37,720

78,503

33,331

42,987

42,887

98,301

41,903

47,539

45,842

98,721

43,052

50,446

44,530

87,340

42,082

44,480

42,133

80,039

36,774

38,277

34,895

62,191

29,575

30,002

27,038

49,505

25,252

24,930

14,265

11,500

11,311

General and administrative

52,491

48,388

60,290

50,445

55,040

31,565

38,597

23,894

27,511

27,795

35,041

26,181

26,592

30,689

35,289

27,449

28,676

29,605

35,668

25,639

25,899

25,751

30,493

21,717

20,904

19,897

24,527

16,039

15,164

14,772

15,687

14,210

15,522

13,291

8,927

9,620

Capital lease termination

-

-

-

0

-

-

-

0

-8,098

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restructuring

3,274

3,973

1,666

0

2,952

0

0

3,278

4,477

7,736

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

240,839

220,063

313,393

230,555

233,055

107,789

160,516

100,117

122,471

124,373

177,385

111,368

115,444

114,800

177,400

108,567

115,624

111,495

159,529

101,209

102,510

99,367

141,495

85,999

85,678

78,819

111,488

67,152

66,096

60,318

82,677

57,568

57,423

40,669

32,029

33,408

Loss from operations

-7,936

-105,781

259,010

-86,536

-22,911

-34,110

179,021

-35,821

-31,840

-49,760

153,793

-41,794

-21,075

-41,814

141,947

-49,066

-28,392

-46,224

120,480

-48,927

-26,697

-38,611

104,577

-34,622

-23,933

-23,964

101,324

-23,745

-17,786

-19,080

72,609

-22,692

-21,540

-12,986

-7,977

-9,780

Interest expense

13,312

18,253

17,177

16,660

17,769

9,633

9,218

6,699

5,955

5,964

5,961

5,726

5,661

5,675

5,664

5,613

4,985

4,736

4,548

4,381

3,856

3,947

3,762

3,609

1,936

139

141

148

156

152

64

0

0

0

0

21

Interest and other income, net

1,088

1,178

1,278

856

1,561

1,749

795

253

244

189

122

130

128

121

89

433

120

102

125

102

54

227

127

139

35

7

12

14

9

7

10

5

6

14

26

194

Loss before income taxes

-20,160

-122,856

243,111

-102,340

-39,119

-41,994

170,598

-42,267

-37,551

-55,535

147,954

-47,390

-26,608

-47,368

136,372

-54,246

-33,257

-50,858

116,057

-53,206

-30,499

-42,331

100,942

-38,092

-25,834

-24,096

101,195

-23,879

-17,933

-19,225

72,555

-22,687

-21,534

-12,972

-7,951

-9,607

Benefit from income taxes

-7,428

-39,237

65,495

-28,797

-12,607

-14,829

58,874

-16,660

-14,713

-22,341

56,972

-18,235

-10,123

-17,932

5,258

8,831

-9,480

-5,755

16,407

-6,962

-3,447

-8,117

57,293

-27,944

-14,023

-11,691

48,168

-13,401

-8,422

-9,185

37,144

-12,734

-17,884

-5,212

-3,181

-3,722

Net loss

-12,732

-83,619

177,616

-73,543

-26,512

-27,165

111,724

-25,607

-22,838

-33,194

90,982

-29,155

-16,485

-29,436

131,114

-63,077

-23,777

-45,103

99,650

-46,244

-27,052

-34,214

43,649

-10,148

-11,811

-12,405

53,027

-10,478

-9,511

-10,040

35,411

-9,953

-3,650

-7,760

-4,770

-5,885

Weighted average shares:
Net loss per share - basic and diluted (in dollars per share)

-0.37

-2.47

-

-2.20

-0.80

-0.83

-

-0.78

-0.68

-0.98

-

-0.86

-0.48

-0.85

-

-1.73

-0.63

-1.19

-

-1.20

-0.70

-0.89

-

-0.27

-0.31

-0.33

-

-0.29

-0.27

-0.29

-

-0.29

-0.11

-0.27

-0.17

-0.22

Weighted-average shares outstanding - basic and diluted (in shares)

34,254

33,918

-

33,470

33,234

32,702

-

32,878

33,579

33,712

-

33,932

34,177

34,596

-

36,369

37,537

37,968

-

38,453

38,438

38,503

-

37,814

37,775

37,034

-

36,062

35,812

35,199

-

34,576

33,160

-

27

26

Stock-based compensation for operating segments

-

-

-

-

-

-

-

-

-

12,319

-

12,214

10,924

10,150

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cost of net revenues

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

120

129

Technology and development

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

759

756

Sales and marketing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

870

966

General and administrative

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,117

2,208