SILVER SPRING NETWORKS INC (SSNI) [Rocket]

In millions, except per share items	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11	Dec-31-10	Dec-31-09
	10-K	10-K	10-K	10-K	10-K	10-K	S-1/A	S-1/A
Revenues:
Product	193.6	353.0	129.3	224.3	162.6	212.3	65.9	2.3
Services	117.4	136.5	62.0	102.5	34.1	24.7
Other							4.3	1.0
Total revenues [+]	311.0	489.6	191.3	326.9	196.7	237.1	70.2	3.3
Products	193.6	353.0	129.3	224.3	162.6	212.3
Services	117.4	136.5	62.0	102.5	34.1	24.7
Net interest income				0.9	1.5
Revenue growth [+]	-36.5%	155.9%	-41.5%	66.1%	-17.0%	237.6%	2029.9%	5584.5%
Product	-45.2%	173.0%	-42.3%	37.9%	-23.4%	222.0%	2713.0%	4161.8%
Services	-14.0%	120.4%	-39.6%	200.6%	37.9%
Cost of goods sold [+]	172.8	263.8	135.0	211.5	165.0	214.1	120.2	40.1
Cost of product sales	106.6	202.4	77.2	150.3	115.3	166.1
Cost of services	66.2	61.4	57.8	61.2	49.7	48.0
Gross profit	138.2	225.7	56.3	115.4	31.7	23.0	-50.0	-36.8
Gross margin	44.4%	46.1%	29.5%	35.3%	16.1%	9.7%	-71.2%	-1115.0%
Selling, general and administrative [+]	85.2	79.8	77.6	80.1	58.4	59.6	48.5	33.3
Sales and marketing	39.4	33.5	36.4	34.9	29.1	25.2	21.1	14.9
General and administrative	45.8	46.4	41.3	45.2	29.3	34.4	27.5	18.4
Research and development	70.7	61.3	64.8	77.0	62.0	57.5	47.0	25.5
Other operating expenses						1.1	0.2	4.5
Adjusted EBITDA	20.8	118.9	-45.8	17.4	2.4	-19.7	-41.9	-96.1
Adjusted EBITDA margin	6.7%	24.3%	-23.9%	5.3%	1.2%	-8.3%	-59.7%	-2915.5%
Stock-based compensation	29.8	26.5	33.9	52.5	15.1	14.8		2.1
EBITDA [+]	-9.1	92.4	-79.6	-35.1	-81.4	-88.3		-98.2
EBITDA growth	-109.8%	-216.1%	126.8%	-56.9%	-7.8%	-39.4%	48.5%	152.5%
EBITDA margin	-2.9%	18.9%	-41.6%	-10.7%	-41.4%	-37.2%	-207.6%	-2977.7%
Depreciation	7.4	6.1	5.9	6.5	7.3	6.7		1.9
EBITA	-16.5	86.3	-85.5	-41.6	-88.6	-94.9	-145.8	-100.1
EBITA margin	-5.3%	17.6%	-44.7%	-12.7%	-45.1%	-40.1%	-207.6%	-3035.2%
Amortization of intangibles	1.2	1.7	0.6	0.2		0.3
EBIT [+]	-17.7	84.6	-86.1	-41.8	-88.6	-95.2	-145.8	-100.1
EBIT growth	-120.9%	-198.3%	106.2%	-52.9%	-6.9%	-34.7%	45.6%	153.0%
EBIT margin	-5.7%	17.3%	-45.0%	-12.8%	-45.1%	-40.2%	-207.6%	-3035.2%
Non-recurring items [+]	2.2	1.7	1.8
Asset impairment	2.2
Interest expense, net [+]	-0.5	-0.4	-0.2	1.1	4.0	0.3	-0.1	0.1
Interest expense	0.0	0.1	0.1	1.2	4.0	0.3	0.2	0.2
Interest income	0.5	0.5	0.3	0.1	0.0	0.0	0.2	0.1
Other income (expense), net	0.2	-0.3	-0.1	-23.7	3.3	3.6	-2.6	-13.1
Pre-tax income	-19.3	83.1	-87.7	-66.6	-89.3	-92.0	-148.3	-113.3
Income taxes	2.4	3.1	1.4	0.2	0.4	0.4	0.1	0.2
Tax rate		3.7%
Net income	-21.6	80.0	-89.2	-171.8	-89.7	-92.4	-148.4	-113.5
Net margin	-7.0%	16.3%	-46.6%	-52.6%	-45.6%	-39.0%	-211.4%	-3441.4%

Basic EPS [+]	($0.42)	$1.60	($1.84)	($4.54)	($24.45)	($26.07)	($46.00)	($8.48)
Growth	-126.3%	-186.9%	-59.4%	-81.4%	-6.2%	-43.3%	442.6%	129.5%
Diluted EPS [+]	($0.42)	$1.55	($1.84)	($4.54)	($24.45)	($26.07)	($46.00)	($8.48)
Growth	-127.1%	-184.2%	-59.4%	-81.4%	-6.2%	-43.3%	442.6%	129.5%

Shares outstanding (basic) [+]	51.4	50.0	48.4	37.9	3.7	3.5	3.2	13.4
Growth	3.0%	3.3%	27.7%	932.1%	3.6%	9.8%	-75.9%	22.4%
Shares outstanding (diluted) [+]	51.4	51.5	48.4	37.9	3.7	3.5	3.2	13.4
Growth	-0.2%	6.5%	27.7%	932.1%	3.6%	9.8%	-75.9%	22.4%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.