Apptio Announces Results for the Fiscal Fourth Quarter and Full Year 2017
Reported Q4 revenue of $52.4 million and positive cash flow for the fiscal year
BELLEVUE, Wash., Feb. 5, 2018 /PRNewswire/ -- Apptio, Inc. (NASDAQ: APTI), the business management system of record for hybrid IT, today announced results for the fiscal fourth quarter and full year ended December 31, 2017.
"In the fourth quarter, we achieved record revenue of $52.4 million and we also exceeded our cash flow goals for the year," said Sunny Gupta, co-founder and CEO, Apptio. "As we look into 2018, we aim to continue driving broader customer adoption as we capitalize on shifts in the IT landscape across hybrid IT, digitization and agile."
Fourth Quarter Financial Summary
- Subscription revenue was $42.6 million, an increase of 21% from the fourth quarter of 2016, and comprised 81% of total revenue. Services revenue was $9.8 million, an increase of 6% from the fourth quarter of 2016. Total revenue was $52.4 million, an increase of 18% from the fourth quarter of 2016.
- GAAP gross margin was 72%, a significant improvement from the fourth quarter of 2016 GAAP gross margin of 67%. Non-GAAP gross margin improved to 73%, as compared to non-GAAP gross margin of 69% in the fourth quarter of 2016.
- GAAP operating margin was negative 14%, improving from GAAP operating margin of negative 17% in the fourth quarter of 2016. Non-GAAP operating margin improved to negative 5%, as compared to non-GAAP operating margin of negative 9% in the fourth quarter of 2016.
- GAAP net loss per basic and diluted share was $0.17 based on 41.3 million weighted average shares outstanding, compared to GAAP net loss per basic and diluted share of $0.21 based on 38.3 million weighted average shares outstanding in the fourth quarter of 2016.
- Non-GAAP net loss per basic and diluted share was $0.06 based on 41.3 million weighted average shares outstanding, compared to non-GAAP net loss per basic and diluted share of $0.11 based on 38.3 million weighted average shares outstanding in the fourth quarter of 2016.
- For the three months ended December 31, 2017, net cash used in operating activities was $1.5 million as compared to net cash used in operating activities of $1.8 million in the comparable period last year. Free cash flow was negative $2.3 million, as compared to negative $3.7 million in the three months ended December 31, 2016.
- Cash, cash equivalents and marketable securities were approximately $149.0 million as of December 31, 2017.
Fiscal Year 2017 Financial Summary
- Subscription revenue was $155.4 million, an increase of 19% from fiscal year 2016, and comprised 82% of total revenue. Services revenue was $33.1 million, an increase of 9% from fiscal year 2016. Total revenue was $188.5 million, an increase of 17% from fiscal year 2016.
- GAAP gross margin was 69% an improvement from fiscal year 2016 GAAP gross margin of 66%. Non-GAAP gross margin improved to 70%, as compared to non-GAAP gross margin of 67% for fiscal year 2016.
- GAAP operating margin was negative 14%, improving from GAAP operating margin of negative 18% for fiscal year 2016. Non-GAAP operating margin improved to negative 5%, as compared to non-GAAP operating margin of negative 11% for fiscal year 2016.
- GAAP net loss per basic and diluted share was $0.64 based on 39.8 million weighted average shares outstanding, compared to GAAP net loss per basic and diluted share of $1.61 based on 19.6 million weighted average shares outstanding for fiscal year 2016.
- Non-GAAP net loss per basic and diluted share was $0.24 based on 39.8 million weighted average shares outstanding, compared to non-GAAP net loss per basic and diluted share of $1.08 based on 19.6 million weighted average shares outstanding for fiscal year 2016.
- For fiscal year ended December 31, 2017, net cash provided by operating activities was $9.4 million as compared to net cash used in operating activities of $4.0 million in the comparable period last year. Free cash flow was $5.8 million, as compared to negative $9.4 million in the fiscal year ended December 31, 2016.
Business Highlights
- Improved our trailing twelve months subscription net dollar retention to approximately 102%.
- Saw continued momentum with our new product packages, including IT Financial Management Foundation and Cloud Cost Management.
- Added the most new customers in company history during 2017, and ended the year with approximately 440 total customers.
- Completed the acquisition of Digital Fuel on February 2, 2018 to further extend our leadership in the Technology Business Management market.
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 first quarter ending March 31, 2018 and for the full year 2018 as follows:
First quarter of 2018:
- Total revenue is expected to be in the range of $51.0 to $52.0 million
- Non-GAAP operating loss between $2.5 and $3.0 million
Full year 2018:
- Total revenue is expected to be in the range of $220 and $225 million
- Approximately break-even Non-GAAP operating income
All forward-looking non-GAAP financial measures contained in this section titled "Financial Outlook" exclude the effects of stock-based compensation expense. Guidance reflects the February 2, 2018 acquisition of Digital Fuel and the adoption of ASC 606 on January 1, 2018. Non-GAAP operating income guidance excludes transaction expenses related to the acquisition of Digital Fuel.
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: 4795737), or if outside North America, by dialing 574-990-1011 (passcode: 4795737). 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 first quarter of, and full year, 2018. 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 October 31, 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. |
||||||||||||||||
| Three Months Ended |
Year Ended |
|||||||||||||||
| December 31, |
December 31, |
|||||||||||||||
| 2017 |
2016 |
2017 |
2016 |
|||||||||||||
| Revenue |
||||||||||||||||
| Subscription |
$ |
42,557 |
$ |
35,066 |
$ |
155,417 |
$ |
130,061 |
||||||||
| Professional services |
9,810 |
9,254 |
33,102 |
30,508 |
||||||||||||
| Total revenue |
52,367 |
44,320 |
188,519 |
160,569 |
||||||||||||
| Cost of revenue |
||||||||||||||||
| Subscription |
7,381 |
7,338 |
29,650 |
27,298 |
||||||||||||
| Professional services |
7,304 |
7,082 |
28,903 |
26,862 |
||||||||||||
| Total cost of revenue |
14,685 |
14,420 |
58,553 |
54,160 |
||||||||||||
| Gross profit |
37,682 |
29,900 |
129,966 |
106,409 |
||||||||||||
| Operating expenses |
||||||||||||||||
| Research and development |
10,490 |
9,403 |
40,550 |
35,475 |
||||||||||||
| Sales and marketing |
26,966 |
21,600 |
87,949 |
75,856 |
||||||||||||
| General and administrative |
7,364 |
6,260 |
27,706 |
23,229 |
||||||||||||
| Total operating expenses |
44,820 |
37,263 |
156,205 |
134,560 |
||||||||||||
| Loss from operations |
(7,138) |
(7,363) |
(26,239) |
(28,151) |
||||||||||||
| Other income (expense) |
||||||||||||||||
| Interest income (expense) and other, net |
393 |
213 |
1,204 |
(1,533) |
||||||||||||
| Foreign exchange loss |
(198) |
(643) |
(25) |
(1,417) |
||||||||||||
| Loss before provision for income taxes |
(6,943) |
(7,793) |
(25,060) |
(31,101) |
||||||||||||
| Income tax benefit (provision) |
53 |
(124) |
(561) |
(452) |
||||||||||||
| Net loss |
$ |
(6,890) |
$ |
(7,917) |
$ |
(25,621) |
$ |
(31,553) |
||||||||
| Net loss per share attributable to common stockholders, basic and diluted |
$ |
(0.17) |
$ |
(0.21) |
$ |
(0.64) |
$ |
(1.61) |
||||||||
| Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted |
41,276 |
38,323 |
39,754 |
19,595 |
||||||||||||
| Apptio, Inc. |
||||||||
| December 31, |
December 31, |
|||||||
| 2017 |
2016 |
|||||||
| Assets |
||||||||
| Current assets |
||||||||
| Cash and cash equivalents |
$ |
55,069 |
$ |
42,007 |
||||
| Short-term investments |
93,901 |
36,741 |
||||||
| Accounts receivable, net of allowance for doubtful accounts |
||||||||
| of $413 and $122 |
68,782 |
58,587 |
||||||
| Prepaid expenses and other current assets |
5,079 |
5,440 |
||||||
| Total current assets |
222,831 |
142,775 |
||||||
| Long-term assets |
||||||||
| Property and equipment, net of accumulated depreciation |
||||||||
| of $21,924 and $17,091 |
10,437 |
12,827 |
||||||
| Long-term investments |
-- |
38,446 |
||||||
| Other long-term assets |
983 |
734 |
||||||
| Total assets |
$ |
234,251 |
$ |
194,782 |
||||
| Liabilities and Stockholders' Equity |
||||||||
| Current liabilities |
||||||||
| Accounts payable |
$ |
5,598 |
$ |
3,574 |
||||
| Accrued payroll and other expenses |
16,481 |
14,073 |
||||||
| Deferred revenue |
116,831 |
97,885 |
||||||
| Deferred rent |
892 |
799 |
||||||
| Capital leases |
21 |
43 |
||||||
| Total current liabilities |
139,823 |
116,374 |
||||||
| Long-term liabilities |
||||||||
| Deferred revenue, net of current portion |
2,470 |
2,254 |
||||||
| Deferred rent, net of current portion |
3,483 |
4,360 |
||||||
| Capital leases, net of current portion |
26 |
51 |
||||||
| Asset retirement obligation |
199 |
175 |
||||||
| Total liabilities |
146,001 |
123,214 |
||||||
| Stockholders' equity |
||||||||
| Class A and Class B Common stock |
4 |
4 |
||||||
| Additional paid-in capital |
314,301 |
271,982 |
||||||
| Accumulated other comprehensive loss |
(110) |
(94) |
||||||
| Accumulated deficit |
(225,945) |
(200,324) |
||||||
| Total stockholders' equity |
88,250 |
71,568 |
||||||
| Total liabilities and stockholders' equity |
$ |
234,251 |
$ |
194,782 |
||||
| Apptio, Inc. |
||||||||||||||||
| Three Months Ended |
Year Ended |
|||||||||||||||
| December 31, |
December 31, |
|||||||||||||||
| 2017 |
2016 |
2017 |
2016 |
|||||||||||||
| Cash flows from operating activities |
||||||||||||||||
| Net loss |
$ |
(6,890) |
$ |
(7,917) |
$ |
(25,621) |
$ |
(31,553) |
||||||||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities |
||||||||||||||||
| Depreciation and amortization |
1,444 |
1,501 |
6,101 |
5,988 |
||||||||||||
| Amortization of premiums on investments |
(24) |
18 |
35 |
38 |
||||||||||||
| Loss (gain) on disposal of property and equipment |
(11) |
(1) |
(4) |
25 |
||||||||||||
| Stock-based compensation |
4,403 |
3,557 |
16,070 |
10,459 |
||||||||||||
| Accretion of expense on line of credit fees |
-- |
9 |
18 |
136 |
||||||||||||
| Loss on extinguishment of debt |
-- |
-- |
-- |
722 |
||||||||||||
| Remeasurement of preferred stock warrant liability |
-- |
-- |
-- |
202 |
||||||||||||
| Foreign exchange loss |
198 |
412 |
25 |
412 |
||||||||||||
| Change in operating assets and liabilities |
||||||||||||||||
| Accounts receivable |
(22,810) |
(16,067) |
(10,784) |
(5,765) |
||||||||||||
| Prepaid expenses and other assets |
78 |
(2,946) |
3,338 |
(3,606) |
||||||||||||
| Accounts payable |
1,607 |
(1,370) |
2,242 |
278 |
||||||||||||
| Accrued expenses |
1,597 |
4,068 |
(428) |
1,626 |
||||||||||||
| Deferred revenue |
19,091 |
16,373 |
19,163 |
16,908 |
||||||||||||
| Deferred rent |
(203) |
557 |
(799) |
136 |
||||||||||||
| Net cash (used in) provided by operating activities |
(1,520) |
(1,806) |
9,356 |
(3,994) |
||||||||||||
| Cash flows from investing activities |
||||||||||||||||
| Purchases of property and equipment |
(766) |
(1,884) |
(3,603) |
(5,402) |
||||||||||||
| Proceeds from sale of equipment |
13 |
-- |
24 |
-- |
||||||||||||
| Proceeds from maturities of investments |
15,382 |
-- |
50,457 |
6,245 |
||||||||||||
| Purchases of investments |
(3,026) |
(64,477) |
(69,222) |
(75,303) |
||||||||||||
| Payment of security deposits |
(39) |
(141) |
(62) |
(184) |
||||||||||||
| Net cash provided by (used in) investing activities |
11,564 |
(66,502) |
(22,406) |
(74,644) |
||||||||||||
| Cash flows from financing activities |
||||||||||||||||
| Proceeds from exercise of common stock options |
12,920 |
333 |
21,868 |
1,333 |
||||||||||||
| Proceeds from purchases of stock under employee stock purchase plan |
2,130 |
-- |
4,381 |
-- |
||||||||||||
| Proceeds from initial public offering |
-- |
-- |
-- |
102,672 |
||||||||||||
| Payment of initial public offering costs |
-- |
(1,788) |
(243) |
(2,362) |
||||||||||||
| Proceeds from long-term debt |
-- |
-- |
-- |
20,000 |
||||||||||||
| Principal payments on long-term debt |
-- |
-- |
-- |
(20,000) |
||||||||||||
| Payment of debt prepayment fees |
-- |
-- |
-- |
(200) |
||||||||||||
| Principal payments on capital lease obligations |
(11) |
(10) |
(43) |
(43) |
||||||||||||
| Payment of capitalized loan fees |
-- |
-- |
-- |
(248) |
||||||||||||
| Net cash provided by (used in) financing activities |
15,039 |
(1,465) |
25,963 |
101,152 |
||||||||||||
| Foreign currency effect on cash, cash equivalents and restricted cash |
707 |
68 |
149 |
(263) |
||||||||||||
| Net increase (decrease) in cash, cash equivalents and restricted cash |
25,790 |
(69,705) |
13,062 |
22,251 |
||||||||||||
| Cash, cash equivalents and restricted cash |
||||||||||||||||
| Beginning of period |
29,279 |
111,712 |
42,007 |
19,756 |
||||||||||||
| End of period |
$ |
55,069 |
$ |
42,007 |
$ |
55,069 |
$ |
42,007 |
||||||||
| Apptio, Inc. |
|||||||||||||||
| Three Months Ended |
Year Ended |
||||||||||||||
| December 31, |
December 31, |
||||||||||||||
| 2017 |
2016 |
2017 |
2016 |
||||||||||||
| Revenue |
|||||||||||||||
| Subscription |
$ |
42,557 |
$ |
35,066 |
$ |
155,417 |
$ |
130,061 |
|||||||
| Professional services |
9,810 |
9,254 |
33,102 |
30,508 |
|||||||||||
| Total revenue |
52,367 |
44,320 |
188,519 |
160,569 |
|||||||||||
| Cost of revenue reconciliation: |
|||||||||||||||
| GAAP subscription |
7,381 |
7,338 |
29,650 |
27,298 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
(291) |
(327) |
(1,218) |
(891) |
|||||||||||
| Non-GAAP subscription cost of revenue |
7,090 |
7,011 |
28,432 |
26,407 |
|||||||||||
| GAAP professional services |
7,304 |
7,082 |
28,903 |
26,862 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
(289) |
(263) |
(1,131) |
(820) |
|||||||||||
| Non-GAAP professional services cost of revenue |
$ |
7,015 |
$ |
6,819 |
$ |
27,772 |
$ |
26,042 |
|||||||
| Gross profit and gross margin reconciliation: |
|||||||||||||||
| GAAP subscription gross profit |
$ |
35,176 |
$ |
27,728 |
$ |
125,767 |
$ |
102,763 |
|||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
291 |
327 |
1,218 |
891 |
|||||||||||
| Non-GAAP subscription gross profit |
35,467 |
28,055 |
126,985 |
103,654 |
|||||||||||
| GAAP subscription gross margin |
82.7 |
% |
79.1 |
% |
80.9 |
% |
79.0 |
% |
|||||||
| Non-GAAP subscription gross margin |
83.3 |
% |
80.0 |
% |
81.7 |
% |
79.7 |
% |
|||||||
| GAAP professional services gross profit |
2,506 |
2,172 |
4,199 |
3,646 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
289 |
263 |
1,131 |
820 |
|||||||||||
| Non-GAAP professional services gross profit |
2,795 |
2,435 |
5,330 |
4,466 |
|||||||||||
| GAAP professional services gross margin |
25.5 |
% |
23.5 |
% |
12.7 |
% |
12.0 |
% |
|||||||
| Non-GAAP professional services gross margin |
28.5 |
% |
26.3 |
% |
16.1 |
% |
14.6 |
% |
|||||||
| GAAP gross profit |
37,682 |
29,900 |
129,966 |
106,409 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
580 |
590 |
2,349 |
1,711 |
|||||||||||
| Non-GAAP gross profit |
$ |
38,262 |
$ |
30,490 |
$ |
132,315 |
$ |
108,120 |
|||||||
| GAAP gross margin |
72.0 |
% |
67.5 |
% |
68.9 |
% |
66.3 |
% |
|||||||
| Non-GAAP gross margin |
73.1 |
% |
68.8 |
% |
70.2 |
% |
67.3 |
% |
|||||||
| Operating expenses reconciliation: |
|||||||||||||||
| GAAP research and development |
$ |
10,490 |
$ |
9,403 |
$ |
40,550 |
$ |
35,475 |
|||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
(1,159) |
(1,012) |
(4,491) |
(2,977) |
|||||||||||
| Non-GAAP research and development |
9,331 |
8,391 |
36,059 |
32,498 |
|||||||||||
| As a % of total revenue, non-GAAP |
17.8 |
% |
18.9 |
% |
19.1 |
% |
20.2 |
% |
|||||||
| GAAP sales and marketing |
26,966 |
21,600 |
87,949 |
75,856 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
(1,298) |
(956) |
(4,614) |
(3,132) |
|||||||||||
| Non-GAAP sales and marketing |
25,668 |
20,644 |
83,335 |
72,724 |
|||||||||||
| As a % of total revenue, non-GAAP |
49.0 |
% |
46.6 |
% |
44.2 |
% |
45.3 |
% |
|||||||
| GAAP General and administrative |
7,364 |
6,260 |
27,706 |
23,229 |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
(1,366) |
(999) |
(4,616) |
(2,639) |
|||||||||||
| Non-GAAP general and administrative |
5,998 |
5,261 |
23,090 |
20,590 |
|||||||||||
| As a % of total revenue, non-GAAP |
11.5 |
% |
11.9 |
% |
12.2 |
% |
12.8 |
% |
|||||||
|
Loss from operations reconciliation: |
|||||||||||||||
| GAAP loss from operations |
(7,138) |
(7,363) |
(26,239) |
(28,151) |
|||||||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
4,403 |
3,557 |
16,070 |
10,459 |
|||||||||||
| Non-GAAP loss from operations |
$ |
(2,735) |
$ |
(3,806) |
$ |
(10,169) |
$ |
(17,692) |
|||||||
| Loss from operations as a percentage of revenue: |
|||||||||||||||
| GAAP loss from operations |
(13.6) |
% |
(16.6) |
% |
(13.9) |
% |
(17.5) |
% |
|||||||
| Non-GAAP loss from operations |
(5.2) |
% |
(8.6) |
% |
(5.4) |
% |
(11.0) |
% |
|||||||
| Net loss reconciliation: |
|||||||||||||||
| GAAP |
$ |
(6,890) |
$ |
(7,917) |
$ |
(25,621) |
$ |
(31,553) |
|||||||
| Non-GAAP adjustment: |
|||||||||||||||
| Stock-based compensation |
4,403 |
3,557 |
16,070 |
10,459 |
|||||||||||
| Non-GAAP Net loss |
$ |
(2,487) |
$ |
(4,360) |
$ |
(9,551) |
$ |
(21,094) |
|||||||
| Basic and diluted net loss per share |
|||||||||||||||
| reconciliation: |
|||||||||||||||
| GAAP |
$ |
(0.17) |
$ |
(0.21) |
$ |
(0.64) |
$ |
(1.61) |
|||||||
| Non-GAAP |
$ |
(0.06) |
$ |
(0.11) |
$ |
(0.24) |
$ |
(1.08) |
|||||||
| Shares used to compute basic and diluted GAAP |
|||||||||||||||
| and Non-GAAP net loss per share |
41,276 |
38,323 |
39,754 |
19,595 |
|||||||||||
| Apptio, Inc. |
|||||||||||||||
| Three Months Ended |
Year Ended |
||||||||||||||
| December 31, |
December 31, |
||||||||||||||
| 2017 |
2016 |
2017 |
2016 |
||||||||||||
| Net cash (used in) provided by operating activities |
$ |
(1,520) |
$ |
(1,806) |
$ |
9,356 |
$ |
(3,994) |
|||||||
| Less: purchases of property and equipment |
(766) |
(1,884) |
(3,603) |
(5,402) |
|||||||||||
| Free cash flow |
$ |
(2,286) |
$ |
(3,690) |
$ |
5,753 |
$ |
(9,396) |
|||||||
© 2018 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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