Marketo Announces Fourth Quarter and Full Year 2015 Results
PR Newswire

SAN MATEO, Calif., Feb. 9, 2016 /PRNewswire/ -- Marketo, Inc. (NASDAQ: MKTO), the leading provider of engagement marketing software and solutions, today announced its fourth quarter and full year 2015 financial results.

Marketo logo.

2015 Highlights:

  • Annual revenue increased 40 percent year over year to $209.9 million
  • Deferred revenue increased 46 percent year over year to $92.0 million
  • Annual calculated billings increased 39 percent year over year to $238.9 million
  • Generated full year cash flow from operations of $2.3 million

"Our solid fourth quarter performance capped a year of healthy growth, including improved operating leverage and positive cash flow from operations for the full year," said Phil Fernandez, chairman and CEO of Marketo. "I am optimistic about our business and believe we are well positioned to capitalize on the market opportunity in 2016. As a recognized leader in the industry, with a highly differentiated position in the market, we continue to deliver breakthrough innovation and make our customers successful."

Results for the fourth quarter of 2015:

  • Revenue: Revenue was $58.3 million, an increase of 38 percent over the same period of the prior year.
  • Deferred Revenue: Deferred revenue at December 31, 2015 was $92.0 million, up 12 percent from $82.1 million at September 30, 2015. This compares to $62.9 million at December 31, 2014.
  • Calculated Billings: Calculated billings were $68.1 million, an increase of 31 percent over $52.1 million in the same period of the prior year.
  • Net Loss: GAAP net loss attributable to Marketo was $17.2 million, and net loss per common share, basic and diluted, was $(0.40). Non-GAAP net loss was $5.5 million, and non-GAAP net loss per common share, basic and diluted, was $(0.13).
  • Cash Flow: Cash used in operating activities was $1.5 million as compared to cash used in operating activities of $3.2 million in the same period of the prior year.
  • Total Cash and Cash Equivalents: As of December 31, 2015, total cash and cash equivalents was $107.2 million.

Results for the full year 2015:

  • Revenue: Revenue was $209.9 million, an increase of 40 percent over the prior year.
  • Calculated Billings: Calculated billings were $238.9 million, an increase of 39 percent over $171.5 million in the prior year.
  • Net Loss: GAAP net loss attributable to Marketo was $71.5 million, and net loss per common share, basic and diluted, was $(1.68). Non-GAAP net loss was $25.9 million, and non-GAAP net loss per common share, basic and diluted, was $(0.61).
  • Cash Flow: Cash provided by operating activities was $2.3 million as compared to cash used in operating activities of $14.0 million in the prior year.

Outlook
As of February 9, 2016, Marketo is initiating revenue and EPS guidance for its first quarter and ­­­­­full year 2016.

For the first quarter of 2016, Marketo expects to report:

  • Revenue in the range of $61 to $62 million
  • GAAP net loss per share in the range of $(0.43) to $(0.45)
  • Non-GAAP net loss per share in the range of $(0.16) to $(0.18)

For the full year 2016, Marketo expects to report:

  • Revenue in the range of $267 to $277 million
  • GAAP net loss per share in the range of $(1.57) to $(1.63)
  • Non-GAAP net loss per share in the range of $(0.47) to $(0.53)

Reconciliations of the non-GAAP financial measures included in this release to their nearest GAAP equivalents are provided at the end of this release.

Conference Call Information
Marketo will host a conference call and live webcast to discuss financial results at 5:00 p.m. ET/2:00 p.m. PT, today, Tuesday, February 9, 2016.  The conference call can be accessed by dialing (888) 632-3384, or +1 (785) 424-1675 (outside the U.S. and Canada).  A live webcast will be available at http://investors.marketo.com.  An audio replay of the call will also be available by dialing (888) 203-1112 or +1 (719) 457-0820 (outside the U.S. and Canada) and entering passcode 162403#.

Use of Non-GAAP Financial Information
Marketo provides financial statements that are prepared in accordance with generally accepted accounting principles (GAAP). To help understand Marketo's past financial performance and future results, Marketo has supplemented its financial results that it provides in accordance with GAAP with certain non-GAAP financial measures. The method Marketo uses to produce non-GAAP financial results is not computed according to GAAP and may differ from the methods used by other companies. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with the company's consolidated financial statements prepared in accordance with GAAP.  Specifically, management is excluding the following items from its non-GAAP historical and estimated net loss and net loss per common share, basic and diluted:

  • Stock-Based Compensation Expenses: The company's compensation strategy includes the use of stock-based compensation to attract and retain employees and executives. It is principally aimed at aligning their interests with those of our stockholders and at long-term employee retention, rather than to motivate or reward operational performance for any particular period. Thus, stock-based compensation expense varies for reasons that are generally unrelated to operational decisions and performance in any particular period.
  • Amortization of Acquired Intangible Assets: The company views amortization of acquisition-related intangible assets, such as the amortization of the cost associated with an acquired company's research and development efforts, trade names, customer lists and customer relationships, as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are continually evaluated for impairment, amortization of the cost of purchased intangibles is a static expense, one that is not typically affected by operations during any particular period.
  • Adjustment to the value of redeemable non-controlling interest to the redemption amount is excluded as the company believes it may not be indicative of future operating results and that investors benefit from an understanding of the company's operating results without giving effect to this adjustment.

Additionally, the company believes the following supplemental non-GAAP financial information is useful to investors and others in assessing its operating performance. A calculation of the supplemental non-GAAP financial information is provided in the table titled 'Non-GAAP Supplemental financial information.'

  • Calculated billings is calculated as revenue plus the change in total deferred revenue as presented on the balance sheet.
  • Free cash flow is calculated as cash flow provided by (used in) operations less the purchase of property and equipment and capitalized software development costs presented on the statement of cash flows.

Marketo believes calculated billings offers investors useful supplemental information regarding the performance of its business, and will help investors better understand the sales volumes and performance of its business. The free cash flow metric is useful as it provides investors an enhanced view of the company's operational performance and the cash available to fund on-going operations. The presentation of non-GAAP free cash flow is not meant to be considered in isolation or as an alternative to net income as an indicator of our performance, or as an alternative to cash flows from operating activities as a measure of liquidity.

The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the related reconciliations, to more fully understand its business. Reconciliations of these GAAP and non-GAAP financial measures are presented in the tables at the end of this release.

"Safe harbor" statement under the Private Securities Litigation Reform Act of 1995 
This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as "expects," "anticipates," "believes," "could," "seeks," "estimates," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would" or similar expressions and the negatives of those terms. Examples of forward-looking statements include, but are not limited to, statements about our opportunities for growth and our GAAP and non-GAAP financial guidance for the first quarter and the full year of 2016, including revenue, net loss, EPS, stock-based compensation expenses, amortization of acquired intangible assets and adjustments to the value of redeemable non-controlling interest to the redemption amount. The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.

The risks and uncertainties that could cause actual results to differ from the results predicted include, but are not limited to, risks associated with: possible fluctuations in our financial and operating results; our rate of growth and anticipated revenue run rate, including our ability to convert deferred revenue into revenue and, as appropriate, cash flow, and the continued growth and ability to maintain deferred revenue; errors, interruptions or delays in our services or Web hosting; breaches of our security measures; competition and competitive pressures, including discounting by our competitors; the nature of our business model; our ability to continue to release, and gain customer acceptance of, new and improved versions of our services; successful customer deployment and utilization of our existing and future services; changes in our sales cycle; the financial impact of any previous and future acquisitions; relationships with platform providers; various financial aspects of our subscription model; unexpected increases in attrition or decreases in new business; the emerging markets in which we operate; unique aspects of entering or expanding in international markets; our ability to hire, retain and motivate employees and manage our growth; changes in our customer base; technological developments; regulatory developments; litigation related to intellectual property and other matters, and any related claims, negotiations and settlements; unanticipated changes in our effective tax rate; fluctuations in the number of shares we have outstanding and the price of such shares; foreign currency exchange rates; collection of receivables; interest rates; factors affecting our deferred tax assets and ability to value and utilize them; the risks and expenses associated with our real estate and office facilities space; and general developments in the economy, financial markets, and credit markets.

Further information about potential factors that could affect our financial results is included in public reports we file with the Securities and Exchange Commission, including, but not limited to, the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our Forms 10-K and 10-Q, and the Forms 8-K and other documents we file from time to time.

Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We assume no obligation and do not intend to publicly update these forward-looking statements, whether as a result of new information, future developments, or otherwise, except as required by law.

About Marketo
Marketo (NASDAQ: MKTO) provides the leading marketing software and solutions designed to help marketers master the art and science of digital marketing. Through a unique combination of innovation and expertise, Marketo is focused solely on helping marketers keep pace in an ever-changing digital world. Spanning today's digital, social, mobile and offline channels, Marketo's Engagement Marketing Platform powers a set of breakthrough marketing automation and marketing management applications to help marketers tackle all aspects of digital marketing from the planning and orchestration of marketing activities to the delivery of personalized interactions that can be optimized in real-time. Marketo's applications are known for their ease-of-use, and are complemented by the Marketing Nation®, a thriving network of more than 550 third-party solutions through our LaunchPoint® ecosystem and over 60,000 marketers who share and learn from each other to grow their collective marketing expertise. The result for modern marketers is unprecedented agility and superior results. Headquartered in San Mateo, CA with offices in Atlanta, Portland, Ore., Europe, Australia, and Japan, Marketo serves as a strategic marketing partner to more than 4,500 large enterprises and fast-growing small companies across a wide variety of industries. For more information, visit www.marketo.com.

Marketo, the Marketo logo, Marketing Nation and LaunchPoint are trademarks of Marketo, Inc. All other trademarks are the property of their respective owners.

MARKETO, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)








December 31,


 December 31, 



2015


2014






ASSETS





Current assets:





Cash and cash equivalents 


$        107,218


$          112,644

Accounts receivable, net 


50,678


37,867

Prepaid expenses and other current assets 


9,073


5,756

Total current assets 


166,969


156,267

Property and equipment, net 


21,323


16,832

Goodwill 


29,201


29,201

Intangible assets, net 


5,455


7,076

Other assets 


2,130


1,035

Total assets 


$        225,078


$          210,411






LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY

Current liabilities:





Accounts payable 


$            4,265


$              3,901

Accrued expenses and other current liabilities 


25,706


20,691

Deferred revenue 


91,735


62,945

Current portion of credit facility 


2,174


2,719

Total current liabilities 


123,880


90,256

Credit facility, net of current portion 


478


2,653

Deferred revenue, long-term


230


-

Other liabilities


2,722


3,526

Total liabilities 


127,310


96,435






Redeemable non-controlling interests


4,643


800






Stockholders' equity:





Common stock


4


4

Additional paid-in capital 


344,727


297,420

Accumulated other comprehensive loss


(274)


(350)

Accumulated deficit 


(251,332)


(183,898)

Total stockholders' equity 


93,125


113,176

Total liabilities, redeemable non-controlling interests and  stockholders' equity 


$        225,078


$          210,411

 

MARKETO, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)












Three Months

Ended December 31, 


For the Year

Ended December 31, 



2015


2014


2015


2014






Revenue:









Subscription and support


$  51,711


$  37,003


$ 183,658


$ 131,060

Professional services and other


6,556


5,342


26,211


18,894

   Total revenue


58,267


42,345


209,869


149,954

Cost of revenue (1):









Subscription and support


11,284


8,104


40,632


28,742

Professional services and other


7,813


5,980


31,484


22,059

   Total cost of revenue


19,097


14,084


72,116


50,801

Gross profit:









Subscription and support


40,427


28,899


143,026


102,318

Professional services and other


(1,257)


(638)


(5,273)


(3,165)

   Total gross profit


39,170


28,261


137,753


99,153

Operating expenses (1):









Research and development


10,476


8,327


39,077


30,337

Sales and marketing


33,723


29,716


129,072


98,843

General and administrative


10,588


7,066


38,056


25,583

   Total operating expenses


54,787


45,109


206,205


154,763

Loss from operations


(15,617)


(16,848)


(68,452)


(55,610)

Other income (expense), net


(168)


120


81


178

Loss before provision (benefit) for income taxes


(15,785)


(16,728)


(68,371)


(55,432)

Provision (benefit) for income taxes


254


(573)


708


(477)

Net loss


(16,039)


(16,155)


(69,079)


(54,955)

Net loss and adjustment attributable to redeemable non-controlling interests*


(1,112)


242


(2,418)


618

Net loss attributable to Marketo


$(17,151)


$(15,913)


$ (71,497)


$ (54,337)










Net loss per share of common stock, basic and diluted


$    (0.40)


$    (0.39)


$     (1.68)


$     (1.35)

Shares used in computing net loss per share of common stock, basic and diluted


43,383


41,059


42,504


40,385










* During the three months and for the year ended December 31, 2015 the Company recorded an adjustment to redeemable non-controlling interests of $(1.5) million and $(4.0) million, respectively, which is included in this line item.










(1) Amounts include stock-based compensation expense as follows (in thousands):












Three Months
Ended December 31, 


For the Year
Ended December 31, 



2015


2014


2015


2014






Cost of subscription and support revenue 


$       740


$       424


$     2,691


$     1,626

Cost of professional services and other revenue 


1,105


607


4,320


2,363

Research and development 


1,716


1,737


7,637


5,353

Sales and marketing 


2,724


2,841


12,655


8,860

General and administrative 


3,223


2,078


11,879


6,918

Total stock-based compensation expense 


$    9,508


$    7,687


$   39,182


$   25,120

 

MARKETO, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)












Three Months Ended

December 31,


For the Year Ended

December 31,



2015


2014


2015


2014

Cash flows from operating activities:









Net loss attributable to Marketo


$ (17,151)


$ (15,913)


$ (71,497)


$ (54,337)

Net loss and adjustment attributable to redeemable non-controlling interests


1,112


(242)


2,418


(618)

Net loss


(16,039)


(16,155)


(69,079)


(54,955)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:









Depreciation and amortization 


3,865


2,699


13,937


9,475

Stock-based compensation expense 


9,508


7,687


39,182


25,120

Deferred income taxes


217


(625)


568


(672)

Provision for doubtful accounts


336


126


738


417

Loss on sale of assets


7


1


7


1

Changes in operating assets and liabilities:









Accounts receivable, net 


(9,240)


(12,010)


(13,952)


(11,779)

Prepaid expenses and other current assets 


(2,857)


540


(4,489)


(1,388)

Other assets 


(21)


(75)


(834)


(709)

Accounts payable 


(504)


(436)


1,628


(342)

Accrued expenses and other current liabilities 


3,790


5,033


5,213


(1,599)

Deferred revenue 


10,041


10,042


29,686


22,371

Other liabilities


(587)


(12)


(355)


37

Net cash provided by (used in) operating activities 


(1,484)


(3,185)


2,250


(14,023)

Cash flows from investing activities:









Increase in restricted cash


-


-


(215)


-

Purchase of property and equipment 


(4,229)


(2,136)


(15,849)


(8,378)

Capitalized software development


(91)


(182)


(1,017)


(645)

Cash used in acquisition, net of cash acquired


-


326


-


326

Net cash used in investing activities 


(4,320)


(1,992)


(17,081)


(8,697)

Cash flows from financing activities:









Proceeds from issuance of common stock upon exercise of stock options 


1,234


826


5,999


5,540

Proceeds from issuance of common stock issued under employee stock purchase plan


-


-


5,629


6,143

Investment from redeemable non-controlling interests


-


-


1,678


1,953

Repurchase of unvested common stock from terminated employees 


(6)


(1)


(38)


(49)

Withholding taxes remitted for the net share settlement of equity awards


(340)


(518)


(740)


(2,638)

Repayment of debt


(690)


(663)


(2,719)


(2,187)

Payment of deferred follow-on offering costs 


-


-


-


(104)

Payment incurred for common stock registration related to acquisition


-


-


-


(319)

Net cash provided by (used in) financing activities 


198


(356)


9,809


8,339

Effect of foreign exchange rate changes on cash and cash equivalents 


(29)


(617)


(404)


(1,274)

Net decrease in cash and cash equivalents 


(5,635)


(6,150)


(5,426)


(15,655)

Cash and cash equivalents — beginning of period 


112,853


118,794


112,644


128,299

Cash and cash equivalents — end of period 


$107,218


$112,644


$107,218


$112,644

 

MARKETO, INC.

RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES

(In thousands, except per share data)

(Unaudited)


To supplement our condensed consolidated financial statements presented on a GAAP basis, Marketo uses non-GAAP measures of operating loss, net loss and net loss per share, which are adjusted to exclude certain costs, expenses, gains and losses we believe appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future. These adjustments to our current period GAAP results are made with the intent of providing both management and investors a more complete understanding of Marketo's underlying operational results and trends and our marketplace performance. In addition, these adjusted non-GAAP results are among the information management uses as a basis for our planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for results prepared in accordance with generally accepted accounting principles in the United States of America.

 
















Three Months Ended
September 30, 2015


Three Months Ended
December 31, 2015


Three Months Ended
December 31, 2014


For the Year Ended
December 31, 2015


For the Year Ended
December 31, 2014

Revenue:












Subscription and support


$        48,090


$        51,711


$        37,003


$      183,658


$      131,060


Professional services and other


6,832


6,556


5,342


26,211


18,894

Total Revenue


$        54,922


$        58,267


$        42,345


$      209,869


$      149,954













Cost of revenue reconciliation:












GAAP Subscription and support


$        10,504


$        11,284


$          8,104


$        40,632


$        28,742


   Stock-based compensation


(706)


(740)


(424)


(2,691)


(1,626)


   Amortization of acquired intangible assets


(377)


(377)


(300)


(1,508)


(1,156)


Non-GAAP subscription and support


$          9,421


$        10,167


$          7,380


$        36,433


$        25,960














GAAP Professional services and other


$          8,157


$          7,813


$          5,980


$        31,484


$        22,059


   Stock-based compensation


(1,178)


(1,105)


(607)


(4,320)


(2,363)


Non-GAAP professional services and other


$          6,979


$          6,708


$          5,373


$        27,164


$        19,696













Gross profit and gross margin reconciliation:












Non-GAAP subscription and support gross profit


$        38,669


$        41,544


$        29,623


$      147,225


$      105,100


Non-GAAP professional services and other gross profit


(147)


(152)


(31)


(953)


(802)


Non-GAAP gross profit


$        38,522


$        41,392


$        29,592


$      146,272


$      104,298


Non-GAAP subscription and support gross margin


80.4%


80.3%


80.1%


80.2%


80.2%


Non-GAAP professional services and other gross margin


-2.2%


-2.3%


-0.6%


-3.6%


-4.2%


Non-GAAP gross margin


70.1%


71.0%


69.9%


69.7%


69.6%













Operating expenses reconciliation:












GAAP Research and development


$          9,738


$        10,476


$          8,327


$        39,077


$        30,337


   Stock-based compensation


(1,966)


(1,716)


(1,737)


(7,637)


(5,353)


   Amortization of acquired intangible assets


(38)


(38)


(6)


(150)


(6)


Non-GAAP research and development


$          7,734


$          8,722


$          6,584


$        31,290


$        24,978


As a % of total revenues, non-GAAP


14.1%


15.0%


15.5%


14.9%


16.7%














GAAP Sales and marketing


$        33,262


$        33,723


$        29,716


$      129,072


$        98,843


   Stock-based compensation


(3,725)


(2,724)


(2,841)


(12,655)


(8,860)


   Amortization of acquired intangible assets


(136)


(137)


(137)


(547)


(566)


Non-GAAP sales and marketing


$        29,401


$        30,862


$        26,738


$      115,870


$        89,417


As a % of total revenues, non-GAAP


53.5%


53.0%


63.1%


55.2%


59.6%














GAAP General and administrative


$          9,726


$        10,588


$          7,066


$        38,056


$        25,583


   Stock-based compensation


(3,092)


(3,223)


(2,078)


(11,879)


(6,918)


   Amortization of acquired intangible assets


(46)


(45)


(46)


(183)


(184)


   Acquisition related costs


-


-


(185)


-


(185)


Non-GAAP general and administrative


$          6,588


$          7,320


$          4,757


$        25,994


$        18,296


As a % of total revenues, non-GAAP


12.0%


12.6%


11.2%


12.4%


12.2%













Loss from operations reconciliation:












GAAP loss from operations


$       (16,465)


$       (15,617)


$       (16,848)


$       (68,452)


$       (55,610)


   Stock-based compensation


10,667


9,508


7,687


39,182


25,120


   Amortization of acquired intangible assets


597


597


489


2,388


1,912


   Acquisition related costs


-


-


185


-


185


Non-GAAP loss from operations


$         (5,201)


$         (5,512)


$         (8,487)


$       (26,882)


$       (28,393)













Net loss reconciliation:












GAAP Net loss attributable to Marketo


$       (18,238)


$       (17,151)


$       (15,913)


$       (71,497)


$       (54,337)


   Stock-based compensation


10,667


9,508


7,687


39,182


25,120


   Amortization of acquired intangible assets


597


597


489


2,388


1,912


   Adjustment to redeemable non-controlling interests


1,630


1,521


-


4,063


-


   Acquisition related costs


-


-


185


-


185


Non-GAAP Net loss attributable to Marketo


$         (5,344)


$         (5,525)


$         (7,552)


$       (25,864)


$       (27,120)













Basic and diluted net loss per share












GAAP


$           (0.43)


$           (0.40)


$           (0.39)


$           (1.68)


$           (1.35)


Non-GAAP


$           (0.12)


$           (0.13)


$           (0.18)


$           (0.61)


$           (0.67)













Shares used to compute basic and diluted GAAP and Non-GAAP net loss per share


42,835


43,383


41,059


42,504


40,385

 

MARKETO, INC.

NON-GAAP SUPPLEMENTAL FINANCIAL INFORMATION

(In thousands)

(Unaudited)



















1) Calculated Billings




















Three Months Ended
December 31,


For the Year Ended

December 31,



2015


2014


2015


2014

Total revenue


$ 58,267


$ 42,345


$ 209,869


$ 149,954

Add increase in total deferred revenue


9,830


9,736


29,020


21,589

Total calculated billings 


$ 68,097


$ 52,081


$ 238,889


$ 171,543



















2) Reconciliation of GAAP Operating Cash Flow to Free Cash Flow
















Three Months Ended

December 31,


For the Year Ended

December 31,



2015


2014


2015


2014

GAAP net cash provided by operating activities


$ (1,484)


$ (3,185)


$     2,250


$ (14,023)

Less purchases of property plant and equipment


(4,229)


(2,136)


(15,849)


(8,378)

Less capitalized software development


(91)


(182)


(1,017)


(645)

Free cash flow


$ (5,804)


$ (5,503)


$ (14,616)


$ (23,046)

 

MARKETO, INC.

RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET LOSS PER SHARE TARGETS

(In thousands, except per share data)

(Unaudited)












Three Months Ending


For the Year Ending



March 31, 2016


December 31, 2016



















GAAP net loss per diluted share range


$ (0.43)


$ (0.45)


$ (1.57)


$ (1.63)

Adjustments:









Stock-based compensation


0.26


0.26


1.05


1.05

Amortization of acquired intangibles per share


0.01


0.01


0.05


0.05

NCI adjustment to redemption value


-


-


-


-

Non-GAAP net loss per diluted share range


$ (0.16)


$ (0.18)


$ (0.47)


$ (0.53)










Weighted Average Shares Outstanding


44,000


44,000


44,842


44,842

 

The GAAP and non-GAAP net income per share targets provided above and elsewhere in this press release are estimates. Marketo's future performance involves risks and uncertainties and the Company's actual results could differ materially from such estimates. Some of the factors that could affect the Company's operating results are set forth under the caption " 'Safe harbor' statement under the Private Securities Litigation Reform Act of 1995" in this release.                 

 

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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/marketo-announces-fourth-quarter-and-full-year-2015-results-300217644.html

SOURCE Marketo, Inc.

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