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Textura Corporation |
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Operating Metrics (unaudited) |
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(dollars in thousands, except where otherwise indicated) |
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Three Months Ended March 31 |
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2014 |
2013 |
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Activity-driven revenue |
$ 10,657 |
$ 6,772 |
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Organization�driven revenue |
3,130 |
1,776 |
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Total revenue |
$ 13,787 |
$ 8,548 |
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Activity�driven revenue: |
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Number of projects added |
1,712 |
1,245 |
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Client�reported construction value added (billions) |
$ 19.5 |
$ 10.6 |
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Active projects during period |
7,052 |
5,263 |
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Organization�driven revenue: |
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Number of organizations |
14,173 |
6,997 |
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The following table presents a reconciliation from the most directly comparable GAAP measure, net loss, to Adjusted EBITDA (in thousands, unaudited): |
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Three Months Ended March 31, |
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2014 |
2013 |
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Net loss |
$ (7,340) |
$ (4,895) |
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Net interest expense |
25 |
375 |
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Income tax provision |
80 |
49 |
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Depreciation and amortization |
1,886 |
1,113 |
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EBITDA |
(5,349) |
(3,358) |
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Share�based compensation expense |
1,936 |
478 |
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Acquisition�related expenses * |
74 |
258 |
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Adjusted EBITDA |
$ (3,339) |
$ (2,622) |
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*Acquisition-related expenses are included within general and administrative expenses on the statement of operations. |
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Share-based compensation expense for employee equity awards is reflected in the following captions in the consolidated statements of operations (in thousands, unaudited): |
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Three Months Ended March 31, |
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2014 |
2013 |
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Cost of services |
$ 175 |
$ 43 |
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General and administrative |
1,168 |
271 |
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Sales and marketing |
312 |
82 |
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Technology and development |
281 |
82 |
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Total |
$ 1,936 |
$ 478 |
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