Stamps.com (STMP) Annual Income Statement

Income Statement Summary

Stamps.com (STMP) annual income statement covering fiscal 2015 through 2020, as reported to the SEC.

Stamps.com reported revenues of $757.98M in fiscal 2020, up 32.5% from $571.85M in fiscal 2019.
Gross profit was $579.16M, up 39% from $416.63M. That is a gross margin of 76.4%.
Income from operations was $198.15M, up 111.8% from $93.56M. Operating margin was 26.1%.
Net income was $178.66M, up 201.7% from $59.23M. Net margin was 23.6%.
Diluted (in dollars per share) was $9.37, up 181.4% from $3.33.
Research and development took 12.6% of revenues and general and administrative 15.7%.

Revenues have grown 28.8% a year on average since fiscal 2015, from $213.96M to $757.98M.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15
Revenues:
Revenues
757,980	571,850	586,930	468,709	364,305	213,957	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						757,980	571,850	586,930	468,709	364,305	213,957	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):
Total cost of revenues
178,816	155,216	126,909	79,226	62,972	43,935	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total cost of revenues						178,816	155,216	126,909	79,226	62,972	43,935	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit
579,164	416,634	460,021	389,483	301,333	170,022	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit						579,164	416,634	460,021	389,483	301,333	170,022	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating expenses:
Sales and marketing
166,742	134,226	112,080	91,222	78,830	56,144	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Sales and marketing						166,742	134,226	112,080	91,222	78,830	56,144	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development
95,600	78,041	56,591	46,208	35,158	20,711	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development						95,600	78,041	56,591	46,208	35,158	20,711	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative
118,670	110,804	96,951	88,550	67,125	42,399	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative						118,670	110,804	96,951	88,550	67,125	42,399	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Contingent consideration charges
-	-	-	-	-	46,088	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Contingent consideration charges						-	-	-	-	-	46,088	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Litigation settlement
-	-	-	-	-	-10,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Litigation settlement						-	-	-	-	-	-10,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses
381,012	323,071	265,622	225,980	181,113	175,342	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses						381,012	323,071	265,622	225,980	181,113	175,342	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income (loss) from operations
198,152	93,563	194,399	163,503	120,220	-5,320	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income (loss) from operations						198,152	93,563	194,399	163,503	120,220	-5,320	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Foreign currency exchange gain (loss), net
-470	-506	-992	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Foreign currency exchange gain (loss), net						-470	-506	-992	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
1,114	2,513	2,595	3,669	3,552	397	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						1,114	2,513	2,595	3,669	3,552	397	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income and other income (loss), net
68	205	102	414	306	146	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income and other income (loss), net						68	205	102	414	306	146	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Non-operating asset write-off
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Non-operating asset write-off						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income (loss) before income taxes
196,636	90,749	190,914	160,248	116,974	-5,571	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income (loss) before income taxes						196,636	90,749	190,914	160,248	116,974	-5,571	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax (benefit) expense
17,971	31,520	22,272	9,645	41,745	-1,373	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax (benefit) expense						17,971	31,520	22,272	9,645	41,745	-1,373	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income (loss)
178,665	59,229	168,642	150,603	75,229	-4,198	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income (loss)						178,665	59,229	168,642	150,603	75,229	-4,198	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income (loss) per share:
Basic (in dollars per share)
10.15	3.43	9.39	8.81	4.36	-0.26	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in dollars per share)						10.15	3.43	9.39	8.81	4.36	-0.26	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)
9.37	3.33	8.99	8.19	4.12	-0.26	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)						9.37	3.33	8.99	8.19	4.12	-0.26	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average shares outstanding:
Basic (in shares)
17,600	17,260	17,952	17,099	17,245	16,436	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in shares)						17,600	17,260	17,952	17,099	17,245	16,436	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)
19,059	17,795	18,762	18,387	18,251	16,436	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)						19,059	17,795	18,762	18,387	18,251	16,436	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Service
Revenues
705,544	523,528	530,682	411,272	313,057	176,672	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						705,544	523,528	530,682	411,272	313,057	176,672	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total cost of revenues
161,031	137,716	101,921	51,931	39,999	27,967	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total cost of revenues						161,031	137,716	101,921	51,931	39,999	27,967	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Product
Revenues
24,277	20,494	20,424	20,715	20,234	18,283	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						24,277	20,494	20,424	20,715	20,234	18,283	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total cost of revenues
7,785	6,349	6,153	6,618	6,695	5,971	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total cost of revenues						7,785	6,349	6,153	6,618	6,695	5,971	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Insurance
Revenues
16,268	13,102	16,189	17,385	17,300	11,732	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						16,268	13,102	16,189	17,385	17,300	11,732	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total cost of revenues
-	-	2,945	4,637	5,432	3,984	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total cost of revenues						-	-	2,945	4,637	5,432	3,984	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Customized postage
Revenues
11,891	14,726	19,583	19,244	13,615	7,229	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						11,891	14,726	19,583	19,244	13,615	7,229	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total cost of revenues
10,000	11,151	15,890	16,040	10,846	6,013	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total cost of revenues						10,000	11,151	15,890	16,040	10,846	6,013	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other
Revenues
-	-	52	93	99	41	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						-	-	52	93	99	41	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx