MicroStrategy Announces Second Quarter 2014 Financial Results
MicroStrategy Incorporated has announced financial results for the three-month period ended June 30, 2014 (the second quarter of its 2014 fiscal year).
Second quarter 2014 revenues were $141.9 million versus $137.9 million for the second quarter of 2013, a 3% increase. Product licenses and subscription services revenues for the second quarter of 2014 were $35.3 million versus $33.4 million for the second quarter of 2013, a 6% increase. Product support revenues for the second quarter of 2014 were $74.6 million versus $68.4 million for the second quarter of 2013, a 9% increase. Other services revenues for the second quarter of 2014 were $32.0 million versus $36.1 million for the second quarter of 2013, an 11% decrease.
Operating expenses for the second quarter of 2014 were $119.0 million versus $103.5 million for the second quarter of 2013, a 15% increase.
Loss from continuing operations for the second quarter of 2014 was $12.7 million, as compared to a loss from continuing operations of $2.0 million for the second quarter of 2013. Net loss for the second quarter of 2014 was $10.3 million, or ($0.91) per share on a diluted basis, as compared to net loss for the second quarter of 2013 of $1.6 million, or ($0.14) per share on a diluted basis.
Non-GAAP loss from continuing operations, which excludes share-based compensation expense, was $9.6 million for the second quarter of 2014, as compared to non-GAAP loss from continuing operations of $2.0 million for the second quarter of 2013.
As of June 30, 2014, MicroStrategy had cash and cash equivalents and short-term investments of $367.5 million, as compared to $357.4 million as of December 31, 2013, an increase of $10.2 million. As of June 30, 2014, MicroStrategy had 9.1 million shares of class A common stock and 2.2 million shares of class B common stock outstanding.
As of June 30, 2014, MicroStrategy had $212.5 million in total gross deferred revenue and advance payments, as compared to $195.5 million as of June 30, 2013, an increase of $17.0 million.
