EXHIBIT 99.2
[PRICELINE LOGO]
PRICELINE.COM - 2000 THIRD QUARTER FINANCIAL DATA SUPPLEMENT
PAGE NUMBER
PRICELINE.COM FINANCIALS
Pro Forma Condensed Statement of Operations 1
Condensed Balance Sheet 2
OFFER AND CUSTOMER ACTIVITY 3
PRODUCT DETAIL
Air 4
Hotels 5
Rental Cars 6
THIS SUPPLEMENT IS UNAUDITED AND INTENDED AS A SUPPLEMENT TO, AND SHOULD BE
READ IN CONJUNCTION WITH, THE COMPANY'S AUDITED FINANCIAL STATEMENTS AND
THE NOTES THERETO FILED WITH THE SEC ON FORM 10-K AND QUARTERLY FINANCIAL
STATEMENTS FILED WITH THE SEC ON FORMS 10-Q. CERTAIN DATA HAVE BEEN
RECLASSIFIED IN ORDER TO CONFORM HISTORICAL INFORMATION IN A MANNER
CONSISTENT WITH CURRENT PRESENTATION AND HAS NOT BEEN AUDITED IN THIS FORM.
CERTAIN PRESENTATIONS WITHIN THIS SUPPLEMENT ARE NOT CONSISTENT WITH
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES.
<TABLE>
<CAPTION>
PRICELINE.COM INC.
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Pro Forma Condensed Statement of Operations
In thousands, except per share amounts
(Unaudited) 9 MOS.
2000
Income Statement Analysis 3Q00 VS. 9 mos. 9 mos. VS.
------------------------- 1Q99 2Q99 3Q99 4Q99 1Q00 2Q00 3Q00 3Q99 1999 2000 1999
-------- -------- -------- ------- --------- -------- -------- ------ --------- -------- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Revenues $49,411 $111,564 $152,222 $169,213 $313,798 $352,095 $341,334 124% $313,197 $1,007,227 222%
Cost of Revenues
Product costs 43,659 100,664 133,628 145,104 264,771 296,919 286,899 115% 277,951 848,589 205%
-------- -------- -------- -------- ------- -------- -------- -------- --------
Total Cost of Revenues 43,659 100,664 133,628 145,104 264,771 296,919 286,899 115% 277,951 848,589 205%
Gross Profit $ 5,752 $ 10,900 $18,594 $24,109 $49,027 $55,176 $54,435 193% $35,246 $158,638 350%
-------- -------- -------- -------- ------- -------- -------- -------- --------
Expenses:
Advertising 11,796 8,980 9,504 10,404 20,339 13,826 14,175 49% 30,280 48,340 60%
Sales and Marketing 5,342 8,753 11,909 12,889 20,110 23,791 21,394 80% 26,004 65,295 151%
General and Administrative 3,667 5,503 6,843 9,784 12,704 15,222 11,934 74% 16,013 39,860 149%
Systems and Business
Development 2,184 3,469 4,593 3,777 5,868 6,695 11,420 149% 10,246 23,983 134%
-------- -------- -------- -------- ------- -------- -------- -------- --------
Total Operating Expenses $22,989 $ 26,705 $32,849 $36,854 $59,021 $59,534 $58,923 79% $82,543 $177,478 115%
Operating Loss ($17,237) ($15,805)($14,255)($12,745) ($9,994) ($4,358) ($4,488) -69% ($47,297) ($18,840) -60%
Interest Income 458 1,929 2,356 2,757 2,715 2,725 2,264 -4% 4,743 7,704 62%
-------- -------- -------- -------- ------- -------- -------- -------- --------
Net Loss ($16,779) ($13,876) ($11,899)($9,988) ($7,279) ($1,633) ($2,224) -81% ($42,554) ($11,136) -74%
========= ========= ========= ======= ======== ======== ======== ======== ========
Pro Forma Net Loss ($0.18) ($0.10) ($0.08) ($0.06) ($0.04) ($0.01) ($0.01) 88% ($0.30) ($0.07) -78%
per Share ========= ========= ========= ======== ======== ======== ======== ======== ========
Recurring Supplier Warrants (381) (381) (381) (381) (381) (381) (381) 0% (1,143) (1,143) 0%
One-Time Supplier Warrant 0 0 (88,389)(1,099,443) 0 0 0 -100% (88,389) 0 -100%
Costs
Other Expense 0 0 0 (380) 0 0 0 - - 0
Option Payroll Taxes 0 0 (1,547) (265) (5,907) (2,507) (349) -77% (1,547) (8,763) 466%
Preferred Stock Dividend 0 0 0 0 0 (7,191) (7,191) - - (14,382) -
WebHouse Club Warrants 0 0 0 189,000 0 0 (189,000) - - (189,000) -
Gain on Sale of Stock 0 0 0 0 0 0 32 - - 32 -
Accretion on Preferred (8,354) 0 0 0 0 0 0 - (8,354) 0 -100%
-------- -------- -------- -------- ------- -------- -------- -------- --------
Net Loss ($25,514) ($14,257)($102,216)($921,457)($13,567)($11,712)($199,113) 95% ($141,987) ($224,392) 58%
Net Loss Applicable to ($0.27) ($0.10) ($0.71) ($5.91) ( $0.08) ($0.07) ($1.19) 68% ($1.02) ($1.35) 32%
Common Shareholders
Weighted average common 94,939 142,320 144,501 156,032 166,467 165,399 167,059 16% 139,817 166,389 19%
shares
Common Shares Outstanding, 142,320 142,320 146,427 163,867 170,162 166,549 167,806 15% 142,320 167,806 18%
end of period
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GROSS MARGIN 11.6% 9.8% 12.2% 14.2% 15.6% 15.7% 15.9% 11.3% 15.7%
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<TABLE>
<CAPTION>
priceline.com Inc.
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Condensed Balance Sheet
In thousands
(Unaudited)
ASSETS 3/31/99 6/30/99 9/30/99 12/31/99 3/31/00 6/30/00 9/30/00
--------- --------- --------- --------- -------- --------- --------
CURRENT ASSETS:
<S> <C> <C> <C> <C> <C> <C> <C>
Cash and cash equivalents $30,594 $142,803 $115,470 $133,172 $125,855 $95,434 $104,501
Short term investments - 9,307 77,446 38,771 23,625 43,273 26,122
Proceeds receivable from
sale of common stock 149,040 - - - - - -
Accounts receivable, net of
allowance for uncollectible
accounts 9,916 22,684 27,486 21,289 52,751 38,993 24,199
Related party receivable 1,274 1,384 3,371 508 108 3,771 5,532
Prepaid expenses and other
current assets 6,565 7,339 10,463 17,999 15,782 27,182 20,755
--------- --------- --------- --------- -------- --------- ---------
Total current assets $197,389 $183,517 $234,236 $211,739 $218,121 $208,653 $181,109
PROPERTY AND EQUIPMENT - net 10,010 15,311 20,611 28,006 37,130 41,592 46,257
RELATED PARTY RECEIVABLE - 4,375 9,113 8,838 13,404 15,789 15,089
WARRANTS TO PURCHASE COMMON
STOCK OF LICENSEES - - - 189,000 189,000 192,250 3,250
OTHER ASSETS 2,340 1,592 3,105 4,303 25,062 34,554 39,868
--------- --------- --------- --------- -------- --------- ---------
TOTAL ASSETS $ 209,739 $ 204,795 $ 267,065 $ 441,886 $ 482,717 $ 492,838 $ 285,573
========= ========= ========= ========= ======== ========= =========
LIABILITIES AND SOTCKHOLDERS'
EQUITY
CURRENT LIABILITIES:
Accounts payable $13,052 $26,934 $32,874 $24,302 $59,411 $73,292 $59,447
Preferred stock dididends payable - - - - - 7,191 14,382
Accrued expenses 8,913 6,404 10,177 13,695 13,766 15,998 17,324
Other current liabilities 135 136 651 1,253 4,280 4,454 3,739
--------- --------- --------- --------- -------- --------- ---------
Total current liabilities $22,100 $33,474 $43,702 $39,250 $77,457 $100,935 $94,892
LONG-TERM DEBT - net 990 - - - - - -
Capital lease obligations 19 12 5 - - - -
--------- --------- --------- --------- -------- --------- ---------
Total liabilities $23,109 $33,486 $43,707 $39,250 $77,457 $100,935 $94,892
--------- --------- --------- --------- -------- --------- ---------
MANDATORILY REDEEMABLE CONVERTIBLE
PREFERRED STOCK - - - - - 359,580 359,580
--------- --------- --------- --------- -------- --------- ---------
STOCKHOLDERS' EQUITY
Preferred stock - - - - - - -
Common stock 1,139 1,139 1,171 1,311 1,361 1,380 1,390
Treasury stock - - - - - (359,580) (359,580)
Additional paid-in capital 327,945 326,881 481,113 1,581,708 1,591,880 1,593,961 1,595,228
Accumulated other
comprehensive income - - - - 5,969 2,224 (1,162)
Accumulated deficit (142,454) (156,711) (258,926) (1,180,383) (1,193,950) (1,205,662) (1,404,775)
--------- --------- --------- --------- -------- --------- ---------
Total stockholders' equity 186,630 171,309 223,358 402,636 405,260 32,323 (168,899)
--------- --------- --------- --------- -------- --------- ---------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $209,739 $204,795 $267,065 $441,886 $482,717 $492,838 $285,573
========= ========= ========= ========= ======== ========= =========
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<CAPTION>
PRICELINE.COM INC.
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Offer and Customer Activity
9 mos.
2000
vs.
3Q00 vs. 9 mos. 9 mos. 9 mos.
Unique Offers: 1Q99 2Q99 3Q99 4Q99 1Q00 2Q00 3Q00 3Q99 1999 2000 1999
-------------- --------- --------- --------- --------- -------- ---------- --------- ---- --------- --------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
New Customer
Offers 500,156 748,454 908,201 892,029 1,504,685 1,509,416 1,344,025 48% 2,156,811 4,358,126 102%
Repeat Customer
Offers 150,305 258,702 408,393 475,699 833,388 964,350 1,417,840 247% 817,400 3,215,578 293%
Total Unique
Offers 650,461 1,007,156 1,316,594 1,367,728 2,338,073 2,473,766 2,761,865 110% 2,974,211 7,573,704 155%
Repeat customer
offers/ 23.1% 25.7% 31.0% 34.8% 35.6% 39.0% 51.3%
total unique
offers
Customers
New Customers 500,156 748,454 908,201 892,029 1,504,685 1,509,416 1,344,025 48% 2,156,811 4,358,126 102%
Cumulative
Customers 1,203,988 1,952,442 2,860,643 3,752,672 5,257,357 6,766,773 8,110,798 184%
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<CAPTION>
PRICELINE.COM INC.
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Air
9 MOS.
2000
VS.
3Q00 VS. 9 MOS. 9 MOS. 9 MOS.
1Q99 2Q99 3Q99 4Q99 1Q00 2Q00 3Q00 3Q99 1999 2000 1999
------- ------- --------- --------- --------- --------- --------- ----- --------- --------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Tickets Sold 186,521 440,339 623,848 707,343 1,250,416 1,288,592 1,290,096 107% 1,250,708 3,829,104 206%
Net Unique Offers 570,947 822,887 1,077,111 1,129,711 1,820,918 1,753,273 1,756,236 63% 2,470,945 5,330,427 116%
Offers Booked 108,917 280,471 397,355 442,089 801,204 869,408 886,135 123% 786,743 2,556,747 225%
Bind Rate 19.1% 34.1% 36.9% 39.1% 44.0% 49.6% 50.5% 31.8% 48.0%
</TABLE>
bind rate = offers booked/net unique offers
Air product was launched on April 6, 1998
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PRICELINE.COM INC.
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Hotels
3Q00 9 mos. 2000
vs. vs.
1Q99 2Q99 3Q99 4Q99 1Q00 2Q00 3Q00 3Q99 9 mos. 1999 9 mos. 2000 9 mos. 1999
------ ------- ------- ------- ------- ------- ------- ----- ----------- ----------- -------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Room Nights Sold 45,580 92,134 179,508 192,795 409,514 432,463 526,450 193% 317,222 1,368,427 331%
Net Unique Offers 68,740 168,543 220,613 208,991 383,708 431,249 511,396 132% 457,896 1,326,353 190%
Offers Booked 15,717 36,854 78,047 83,824 180,343 195,517 244,655 213% 130,618 620,515 375%
Bind Rate 22.9% 21.9% 35.4% 40.1% 47.0% 45.3% 47.8% 28.5% 46.8%
</TABLE>
bind rate = offers booked/net unique offers
Hotel product was launched on October 28, 1998
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<CAPTION>
PRICELINE.COM INC.
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Rental Cars
3Q00 9 MOS. 2000
VS. VS.
1Q99 2Q99 3Q99 4Q99 1Q00 2Q00 3Q00 3Q99 9 mos. 1999 9 mos. 2000 9 mos. 1999
---- ---- ---- ---- ------- ------- ------- ---- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Days Sold - - - - 229,998 429,622 579,866 - - 1,239,486 -
Net Unique Offers - - - - 90,639 175,878 217,760 - - 484,277 -
Offers Booked - - - - 37,706 70,351 107,058 - - 215,115 -
Bind Rate - - - - 41.6% 40.0% 49.2% - 44.4%
</TABLE>
bind rate = offers booked/net unique offers
RENTAL CAR PRODUCT WAS LAUNCHED ON FEBRUARY 3, 2000
