Pandora Media, Inc. provides Internet music platform services in North America. The company allows its listeners to create personalized stations to access music and comedy catalogs, as well as personalized playlist generating system; and offers Pandora Plus and Pandora Premium, a paid subscription service to listeners. Pandora Media, Inc. also sells audio, display, and video advertising to advertisers for delivery on computer, mobile, and other connected device platforms. In addition, the company offers ticketing and marketing software and services for venues and event promoters to promote their events, as well as allow fans to find and purchase tickets for events. Pandora Media, Inc. was fo...
2101 Webster Street
Oakland, CA 94612
Founded in 2000
Pandora Media, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the First Quarter and Full Year of 2017
Feb 9 17
Pandora Media, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the fourth quarter of 2016, consolidated total revenue was $392,598,000 against $336,157,000 last year. Loss from operations was $82,299,000 against $19,528,000 last year. Loss before benefit from (provision for) income taxes was $89,526,000 against $21,165,000 last year. Net loss was $90,009,000 or $0.38 per basic and diluted share against $19,409,000 or $0.09 per basic and diluted share last year. Net cash used in operating activities was $2,618,000 against net cash used in operating activities of $71,019,000 last year. Purchases of property and equipment were $13,369,000 against $2,176,000 last year. Non-GAAP net loss was $29,655,000 or $0.13 per diluted share against income of $10,208,000 or $0.04 per diluted share last year. Adjusted LBITDA was $30,405,000 compared to Adjusted EBITDA was $24,761,000 in the same quarter last year.
For the year, total revenue was $1,384,826,000 against $1,164,043,000 last year. Loss from operations was $318,759,000 against $169,991,000 last year. Loss before benefit from (provision for) income taxes was $343,206,000 against $171,211,000 last year. Net loss was $342,978,000 or $1.49 per basic and diluted share against $169,661,000 or $0.79 per basic and diluted share last year. Net cash used in operating activities was $181,691,000 against net cash used in operating activities of $23,512,000 last year. Purchases of property and equipment were $59,769,000 against $23,512,000 last year. Non-GAAP net loss was $117,711,000 or $0.51 per diluted share against income of $20,591,000 or $0.09 per diluted share last year. Consolidated adjusted LBITDA was $119,544,000 compared to adjusted EBITDA $51,655,000 last year.
For the first quarter of 2017, revenue is expected to be in the range of $310 million to $320 million. Adjusted EBITDA loss is expected to be in the range of $80 million to $70 million, excluding one-time severance costs of approximately $6 million. Adjusted EBITDA differs from GAAP net loss in that it excludes forecasted stock-based compensation expense of approximately $37 million, forecasted depreciation and amortization expense of approximately $19 million, other expense of approximately $7 million and a provision for income taxes of approximately $0.3 million and assumes minimal cash taxes given net loss position. Basic shares outstanding for the first quarter 2017 are expected to be approximately 238 million. The company anticipates a non-GAAP effective tax rate between 30-37% for the first quarter 2017.
For the full year of 2017, Revenue is expected to be in the range of $1.55 billion to $1.70 billion. The company are managing towards full year 2017 adjusted EBITDA profitability, but at this time the company are not providing full year 2017 adjusted EBITDA guidance. Full year 2017 adjusted EBITDA perspectives and considerations will be discussed on the quarterly conference call.
Pandora Media, Inc. Presents at Goldman Sachs Technology and Internet Conference 2017, Feb-14-2017 03:20 PM
Jan 19 17
Pandora Media, Inc. Presents at Goldman Sachs Technology and Internet Conference 2017, Feb-14-2017 03:20 PM. Venue: Palace Hotel, 2 New Montgomery Street, San Francisco, California, United States.