Support.com Reports Third Quarter 2016 Financial Results

Support.com, Inc. (NASDAQ: SPRT), makers of Support.com® Cloud software for Support Interaction Optimization, and a leading provider of tech support and turnkey support center services, today reported unaudited financial results for its third quarter ended September 30, 2016.

"Q3 2016 showed good progress," said Rick Bloom, interim President and Chief Executive Officer. "I look forward to working with the entire Support.com community and am excited about the prospects for the business and delivering shareholder value."

Q3 2016 Financial Summary

For the third quarter of 2016, total revenue was $15.5 million compared to $17.9 million in the third quarter of 2015 and $14.9 million in the second quarter of 2016.

On a GAAP basis, loss from continuing operations for the third quarter of 2016 was $(2.1) million, or $(0.04) per share, compared to $(3.9) million, or $(0.07) per share, in the third quarter of 2015 and $(6.0) million, or $(0.11) per share, in the second quarter of 2016.

On a non-GAAP basis, loss from continuing operations for the third quarter of 2016 was $(1.2) million, or $(0.02) per share, compared to a loss of $(2.9) million, or $(0.05) per share, in the third quarter of 2015 and a loss of $(4.9) million, or $(0.09) per share, in the second quarter of 2016.

Non-GAAP income (loss) from continuing operations excludes stock-based compensation expense, amortization of intangible assets and other, restructuring and impairment charges and tax expense (benefit) associated with acquired goodwill. Collectively, these items impacted income (loss) from continuing operations by $0.9 million in the third quarter of 2016, $1.0 million in the third quarter of 2015 and $1.1 million in the second quarter of 2016. A reconciliation of GAAP to non-GAAP results is presented in the tables below.

Balance Sheet Information

At September 30, 2016, cash, cash equivalents and investments were $54.5 million, compared to $58.0 million at June 30, 2016.

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