<PAGE>
EXHIBIT 99.1
Docent, Inc.
Condensed Consolidated Statement of Operations
(In thousands, except employee information)
(Unaudited)
<TABLE>
<CAPTION>
Fiscal Year 1999 Quarters Ended Fiscal Year 2000 Quarters Ended Nine
--------------------------------------- ------------------------------- Months Ended
March 31 June 30 Sept. 30 Dec. 31 Year 1999 March 31 June 30 Sept. 30 Sept. 30, 2000
-------- ------- -------- ------- --------- -------- ------- -------- --------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Revenue:
License $ 31 $ 10 $ 62 $ 38 $ 141 $ 73 $ 590 $ 1,494 $ 2,157
Service and maintenance 100 31 148 372 651 658 1,143 1,369 3,170
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Total revenue 131 41 210 410 792 731 1,733 2,863 5,327
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Cost of sales:
License 1 3 - 25 29 6 5 14 25
Service and maintenance 260 199 332 410 1,201 1,172 2,001 2,051 5,224
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Total cost of sales 261 202 332 435 1,230 1,178 2,006 2,065 5,249
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Gross profit (loss):
License 30 7 62 13 112 67 585 1,480 2,132
Service and maintenance (160) (168) (184) (38) (550) (514) (858) (682) (2,054)
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Total gross profit (loss) (130) (161) (122) (25) (438) (447) (273) 798 78
Operating expenses
Research and development
expense 501 548 670 763 2,482 912 944 1,338 3,194
Sales and marketing expense 1,694 1,771 2,090 3,335 8,890 4,596 7,080 8,958 20,634
General and administrative
expense 309 358 702 952 2,321 1,109 1,375 1,806 4,290
Stock-based compensation 258 221 364 3,691 4,534 7,189 11,338 4,447 22,974
------- ------- ------- ------- -------- -------- -------- -------- --------
Total operating expenses 2,762 2,898 3,826 8,741 18,227 13,806 20,737 16,549 51,092
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Loss from operations (2,892) (3,059) (3,948) (8,766) (18,665) (14,253) (21,010) (15,751) (51,056)
Interest and other expenses (8) (104) (116) (99) (327) (119) (118) (113) (349)
Interest income 19 20 58 182 279 131 370 318 819
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Net loss (2,881) (3,143) (4,006) (8,683) (18,713) (14,241) (20,758) (15,546) (50,544)
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Dividend accretion and deemed
dividend on convertible
preferred stock - - (131) (1,223) (1,354) (1,909) (7,705) (9,455) (19,069)
------- ------- ------- ------- -------- -------- -------- -------- --------
Net loss attributable to
common stockholders $(2,881) $(3,143) $(4,137) $(9,906) $(20,067) $(16,150) $(28,463) $(25,001) $(69,614)
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Net loss per share attribuable
to common stockholders -
basic and diluted $ (0.83) $ (0.84) $ (1.03) $ (2.35) $(5.19) $(3.70) $ (5.93) $(4.88) $(11.92)
======= ======= ======= ======= ======== ======== ======== ======== ========
Weighted average common shares
outstanding 3,467 3,746 4,022 4,219 3,868 4,359 4,802 5,119 5,841
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Supplemental disclosures:
------------------------
Proforma net loss, excluding
stock-based compensation,
dividend accretion and
deemed dividend
on convertible
preferred stock $(2,623) $(2,922) $(3,642) $(4,992) $(14,179) $ (7,052) $ (9,420) $(11,099) $(27,571)
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Proforma net loss per share,
excluding stock-based
compensation, dividend
accretion and deemed
dividend on convertible
preferred stock $ (0.18) $ (0.20) $ (0.21) $ (0.23) $ (0.83) $ (0.31) $ (0.35) $ (0.39) $ (1.02)
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Weighted average common
and preferred
shares outstanding 14,179 14,957 17,244 21,772 17,013 22,750 26,632 28,111 26,955
======= ======= ======= ======= ======== ======== ======== ======== ========
Average deal size $ 115 $ 251 $ 371
======== ======== ========
Employees by function:
Professional services 22 26 38
Research and development 19 26 33
Sales and marketing
employees 76 102 124
General and administrative 18 27 31
-------- -------- --------
Total employees 135 181 226
======== ======== ========
Sale representatives on full quota 23 40 50
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Forecasted weighted average shares
outstanding - basic and diluted -
Quarter ending
December 31,2000:
39,260
</TABLE>
<PAGE>
Docent, Inc.
Consolidated Balance Sheet - Trended
(In thousands, except DSO information)
(unaudited)
<TABLE>
<CAPTION>
Actuals Proforma(1)
------------------------------------------------------------------------------------ -----------
March 31 June 30 Sep. 30 Dec. 31 March 31 Jun. 30 Sep. 30 Sep. 30
1999 1999 1999 1999 2000 2000 2000 2000
-------- -------- -------- -------- -------- -------- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Assets
------
Current assets:
Cash and cash equivalents $ 1,344 $ 1,515 $ 15,211 $ 12,773 $ 6,066 $ 23,413 $ 30,288 $124,404
Accounts receivable, net 333 163 517 809 795 2,227 5,793 5,793
Prepaid expenses and other
current assets 377 476 548 583 743 659 805 805
-------- -------- -------- -------- -------- -------- -------- --------
Total current assets 2,054 2,154 16,276 14,165 7,604 26,299 36,886 131,002
Property and equipment, net 588 565 594 964 1,722 2,586 3,419 3,419
Other assets 83 83 83 173 219 749 895 895
-------- -------- -------- -------- -------- -------- -------- --------
Total assets $ 2,725 $ 2,802 $ 16,953 $ 15,302 $ 9,545 $ 29,634 $ 41,200 $135,316
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Liabilities, Convertible Preferred Stock
----------------------------------------
and Stockholders' Equity (Deficit)
----------------------------------
Current liabilities:
Accounts payable $ 334 $ 319 $ 699 $ 988 $ 880 $ 1,694 $ 521 $ 521
Accrued liabilities 479 527 820 875 1,563 2,729 4,744 4,744
Deferred revenues 690 793 1,008 1,108 1,401 1,998 3,651 3,651
Notes payable and capital
leases obligations, current 141 1,068 1,169 1,256 1,514 1,105 1,087 1,087
-------- -------- -------- -------- -------- -------- -------- --------
Total current liabilities 1,644 2,707 3,696 4,227 5,358 7,526 10,003 10,003
Notes payable and capital
lease obligations 126 1,725 1,338 1,117 694 1,036 781 781
-------- -------- -------- -------- -------- -------- -------- --------
Total liabilities 1,770 4,432 5,034 5,344 6,052 8,562 10,784 10,784
-------- -------- -------- -------- -------- -------- -------- --------
Convertible preferred stock 11,448 11,448 28,771 33,288 35,197 64,010 85,781 -
-------- -------- -------- -------- -------- -------- -------- --------
Stockholders' equity (deficit):
Common stock 5 5 5 5 5 6 8 43
Additional paid-in capital 1,458 2,066 3,209 11,218 29,637 44,511 63,618 243,480
Receivable from stockholders (201) (201) (209) (487) (201) (201) (2,105) (2,105)
Unearned stock-based
compensation (721) (771) (1,674) (7,200) (20,038) (19,883) (27,524) (27,524)
Accumulated deficit (11,034) (14,177) (18,183) (26,866) (41,107) (67,371) (89,362) (89,362)
-------- -------- -------- -------- -------- -------- -------- --------
Total stockholders' equity
(deficit) (10,493) (13,078) (16,852) (23,330) (31,704) (42,938) (55,365) 124,532
-------- -------- -------- -------- -------- -------- -------- --------
Total liabilities, convertible
preferred stock and
stockholders' equity (deficit) $ 2,725 $ 2,802 $ 16,953 $ 15,302 $ 9,545 $ 29,634 $ 41,200 $135,316
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Supplemental Information:
-------------------------
DSO 99 117 185
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Proforma DSO (2)
74 77 114
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</TABLE>
(1) The net proceeds of $81.4 million from the initial public offering were
received on October 3, 2000, at which time the preferred stock converted to
common stock. Net proceeds of $12.3 million from underwriters' over-
allotments were received on November 1, 2000. The pro forma balance sheet
dated September 30, 2000 assumes receipt of initial public offering and
underwriters' over-allotment funds, and conversion of preferred stock into
common stock.
(2) Proforma DSO excludes accounts receivable for which the revenue has been
deferred
