MicroStrategy Reports Second Quarter 2015 Financial Results
TYSONS CORNER, Va., July 28 -- MicroStrategy Incorporated, a leading worldwide provider of enterprise analytics, mobile, and security software platforms, today announced financial results for the three-month period ended June 30, 2015 (the second quarter of its 2015 fiscal year).
Second quarter 2015 revenues were $132.9 million versus $141.9 million for the second quarter of 2014, a 6% decrease. Product licenses and subscription services revenues for the second quarter of 2015 were $36.4 million versus $35.3 million for the second quarter of 2014, a 3% increase. Product support revenues for the second quarter of 2015 were $70.7 million versus $74.6 million for the second quarter of 2014, a 5% decrease. Other services revenues for the second quarter of 2015 were $25.8 million versus $32.0 million for the second quarter of 2014, a 20% decrease. Foreign currency headwinds continued to have a negative impact on revenues for the second quarter of 2015.
Operating expenses for the second quarter of 2015 were $72.3 million versus $119.0 million for the second quarter of 2014, a 39% decrease. In addition, during the second quarter of 2015, MicroStrategy capitalized $4.2 million in costs associated with further development of MicroStrategy 10 Secure Enterprise, while no development costs were capitalized during the second quarter of 2014. MicroStrategy 10 Secure Enterprise was made generally available in June 2015.
Income from operations for the second quarter of 2015 was $34.8 million, as compared to a loss from operations of $12.7 million for the second quarter of 2014. Net income for the second quarter of 2015 was $22.5 million, or $1.95 per share on a diluted basis, as compared to a net loss of $10.3 million, or $0.91 per share on a diluted basis, for the second quarter of 2014.
Non-GAAP income from operations, which excludes share-based compensation expense and restructuring costs, was $39.2 million for the second quarter of 2015, as compared to a non-GAAP loss from operations of $9.6 million for the second quarter of 2014.
As of June 30, 2015, MicroStrategy had cash and cash equivalents and short-term investments of $427.9 million, as compared to $345.5 million as of December 31, 2014, an increase of $82.4 million. As of June 30, 2015, MicroStrategy had 9.3 million shares of class A common stock and 2.0 million shares of class B common stock outstanding.
About MicroStrategy Incorporated
Founded in 1989, MicroStrategy is a leading worldwide provider of enterprise software platforms. The Company's mission is to provide enterprise analytics, mobility, and security platforms that are flexible, powerful, scalable, and user-friendly. To learn more, visit MicroStrategy online, and follow us on Facebook and Twitter.
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Source: MicroStrategy Incorporated
