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WEBMETHODS, INC. BALANCE SHEETS
(in thousands)
SEP-30 JUNE 30 MAR-31 DEC-31 SEP-30 JUN-30
2000 2000 2000 1999 1999 1999
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(Unaudited)
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Current assets:
Cash and cash equivalents $88,126 $133,356 $171,716 $35,098 41,828 $23,467
Marketable securities available for sale 94,296 42,036 25,256 25,830 12,167 0
Accounts receivable, net of allowance 30,899 29,086 18,578 14,346 5,699 6,084
Prepaid expenses and other current assets 10,054 11,068 6,615 3,028 2,095 1,154
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Total current assets 223,375 215,546 222,165 78,302 61,789 30,705
Marketable securities available for sale 27,641 42,840 37,138 6,458 4,580 0
Property and equipment, net 10,273 7,831 6,310 3,758 2,633 2,148
Goodwill 112,547 125,464 42,356 - - -
Convertible Subordinated Note - - - 2,000 - -
Other Assets 13,272 12,958 5,311 536 758 881
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Total assets 387,108 404,639 313,280 91,054 69,760 33,734
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LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $5,437 $3,871 4,208 2,000 2,781 1,752
Accrued expenses 14,111 9,577 7,323 4,532 2,603 1,494
Accrued salaries and commissions 9,840 7,362 8,035 5,326 2,733 2,162
Deferred revenue 38,925 29,628 20,334 9,909 6,584 4,229
Current portion of capital lease obligations 701 636 757 273 - -
Current portion of notes payable and line of credit 109 132 153 286 337 3,399
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Total current liabilities 69,123 51,206 40,810 22,326 15,038 13,036
Long term deferred revenue 16,889 8,035 5,782 2,578 - -
Notes payable and capital leases obligations, net of current
portion and other 1,291 960 426 400 - 283
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Total Liabilities 87,303 60,201 47,018 25,304 15,038 13,319
Total stockholders' equity 299,805 344,438 266,262 65,750 54,722 20,415
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Total liabilities and stockholders's equity $387,108 $404,639 $313,280 $91,054 $69,760 $33,734
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WEBMETHODS, INC. INCOME STATEMENTS
(IN THOUSANDS, EXCEPT SHARES AND PER SHARE DATA)
SEPT-30 JUN 30 MAR-31 DEC-31 SEP-30 JUN-30
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2000 2000 2000 1999 1999 1999
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(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C>
REVENUE
License $ 32,424 $ 23,985 $ 15,666 $ 13,575 $ 7,794 $ 5,787
Professional services 8,441 7,743 5,148 2,509 2,243 1,800
Maintenance 4,873 3,336 2,217 1,511 1,110 785
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Total revenue 45,738 35,064 23,031 17,595 11,147 8,372
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COST OF REVENUE
License 1,303 1,002 738 753 727 394
Professional services and maintenance 10,755 10,105 7,074 4,047 2,812 2,170
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Total cost of revenue 12,058 11,107 7,812 4,800 3,539 2,564
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Gross profit 33,680 23,957 15,219 12,795 7,608 5,808
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OPERATING EXPENSES
Sales and marketing 22,102 19,474 16,919 12,412 8,728 5,973
Research and development 10,872 7,661 5,101 4,127 3,674 1,877
General and administration 4,903 4,103 3,379 2,926 2,241 1,206
Amortization of deferred stock compensation 1,805 1,805 1,688 683 303 302
Amortization of goodwill and acquired intangibles 12,936 11,829 1,918 - - -
Acquisition related expenses 34,036 - - - - -
In-process research and development - 2,311 2,737 - - -
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Total operating expenses 86,654 47,183 31,742 20,148 14,946 9,359
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Operating loss (52,974) (23,226) (16,523) (7,353) (7,338) (3,551)
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Interest income, net 4,133 3,212 1,945 796 445 129
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Net loss ($ 48,841) ($ 20,014) ($ 14,578) $ (6,557) $ (6,893) $(3,422)
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