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CORRECTING And REPLACING -- Jive Software Announces Second Quarter 2013 Financial Results

Stocks in this article: JIVE

Second Quarter and Recent Business Highlights

  • Signed new and expanded customer relationships including ADEO Services, Allstate, eBay, FICO, Grant Thornton UK LLP, Massachusetts Higher Education Assistance Corp, La Capitale, Guardian Life Insurance, Siam Cement, and Swedish Partners Medical Group.   
  • Announced the release of Jive StreamOnce, a new platform that allows people to seamlessly bring together all their business applications, including email, CRM systems, conversation streams, marketing productivity tools, document storage and data storage systems, into Jive.  
  • Launched the latest version of Producteev by Jive, the leading social task management solution that allows individuals, teams, and now entire organizations to easily track and manage tasks for free.  
  • Introduced a new suite of mobile apps, which include new iPad ®, iPhone ® and Androidâ„¢ apps, that will provide people with a fast, convenient way to create content, find experts and answers, search for information and take action more effectively on the go, anywhere and anytime, all from their smartphones and tablets.

Financial Outlook

As of July 30, 2013, Jive is initiating guidance for its third quarter 2013 and adjusting guidance for the full year 2013, as follows:

  • Third Quarter 2013 Guidance: Total revenue is expected to be in the range of $36.0 million to $37.0 million. Non-GAAP loss from operations is expected to be in the range of $9.5 million to $10.5 million. Non-GAAP loss per share is expected to be in the range of $0.14 to $0.16 based on approximately 67.0 million weighted-average diluted shares outstanding.  
  • Full Year 2013 Guidance: Total revenue is expected to be in the range of $144.0 million to $146.0 million. Non-GAAP loss from operations is expected to be in the range of $38.0 million to $40.0 million. Non-GAAP loss per share is expected to be in the range of $0.59 to $0.62 based on approximately 66.7 million weighted-average diluted shares outstanding. Free cash flow is expected to be in the range of breakeven to a modest cash burn.

With respect to the Company's expectations under "Financial Outlook" above, the Company has not reconciled non-GAAP loss from operations or non-GAAP loss per share to GAAP loss from operations and GAAP loss per share because the Company does not provide guidance for stock-based compensation, income taxes or amortization of intangible assets, which are reconciling items between those Non-GAAP and GAAP measures. As items that impact loss from operations and loss per share are out of the Company's control and/or cannot be reasonably predicted, the Company is unable to provide such guidance. Accordingly, a reconciliation to loss from operations and loss per share is not available without unreasonable effort.

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