This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Planet Payment Announces 2012 Results And Guidance For 2013

We define Adjusted EBITDA as GAAP net (loss) income adjusted to exclude: (1) interest expense, (2) interest income, (3) provision (benefit) for income taxes, (4) depreciation and amortization, (5) stock‑based expense from options and warrants and (6) certain other items management believes affect the comparability of operating results. Please see "Adjusted EBITDA" below for more information and for a reconciliation of Adjusted EBITDA to net (loss) income, the most directly comparable financial measure calculated and presented in accordance with GAAP.

Table 1. Reconciliation of Net (Loss) Income to Adjusted EBITDA
For the three months and year ended December 31, 2012 and 2011
  Three months ended Twelve months ended
  December 31, December 31,
  2012 2011 2012 2011
Net (loss) income $(0.1) $1.8 $(4.5) $2.4
Interest expense 0.0 0.0 0.1 0.3
Interest and other expense (income) 0.0 0.0 0.0 0.0
(Benefit) provision for income taxes (0.1) 0.2 0.2 0.3
Depreciation and amortization 0.8 0.6 2.8 2.4
Expensing of deferred IPO costs(1) 0.0 0.0 2.6 0.0
Stock‑based expense 0.3 0.1 1.1 0.6
Acquisition deal costs 0.0 0.0 0.1 0.0
Convertible debt prepayment fee(2)  0.0 0.0 0.0 0.6
Derecognition of note payable(3) 0.0 0.0 0.0 (0.7)
Adjusted EBITDA (non-GAAP) $0.9 $2.7 $2.4 $5.9

(1) In July 2011 we filed our first registration statement on Form S-1. From July 2011 through August 2012 we continued to update and amend Form S-1. During the quarter ended September 30, 2012 we determined that it is likely that our IPO will be postponed for a period in excess of 90 days and as a result deemed it to be an aborted offering in accordance with the guidance set forth in ASC 340-10-S99-1. For the three months ending September 30, 2012, we expensed previously deferred IPO costs of $2.3 million associated with our registration statement on Form S-1 as well as any IPO costs incurred in the third quarter to selling, general and administrative expenses. The total amount of the expense for the year was $2.6 million.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs