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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Quotient Technology Inc. Announces Third Quarter 2021 Results

November 3, 2021 GMT

SALT LAKE CITY, Utah--(BUSINESS WIRE)--Nov 3, 2021--

Quotient (NYSE: QUOT), the leading digital media and promotions technology company, today reported financial results for the third quarter ended September 30, 2021. Quotient’s complete third quarter 2021 financial results and management commentary can be found by accessing the Company’s stockholder letter under Key Resources on the overview page in the Investor Relations section of Quotient’s website.

“We delivered a great quarter of revenue growth and a 13% Adjusted EBITDA margin,” said Steven Boal, CEO and Founder at Quotient. “We’ve also made significant progress on scaling our platform and reducing low margin business to set Quotient up for sustainable, long-term, profitable growth.”

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We have renewed our relationship with Dollar General, and at the same time, our partnership with Albertsons Companies, Inc. (“Albertsons”) will be winding down over the next few months. As a result of the wind down, and in accordance with our strategic focus, we are implementing additional cost-cutting measures and eliminating certain activities beginning the fourth quarter of 2021.

“As we stated in our last earnings call, we are focused on growing our overall network of retailers and shoppers, and we are exiting lower-margin, labor-intensive managed services business and shifting towards self-service and platform delivery,” said Steven Boal. “We believe that this approach, combined with the transition of Albertsons, will enable us to further scale our platforms and deliver higher margins, which we believe will lead to better outcomes for our retailers, advertisers and shoppers.”

As a result of these business and operational changes, a growing portion of our media and promotions business will be moving to a net revenue recognition model beginning in Q4 2021. The Quotient network remains a leading choice for advertisers and retailers looking to address their digital needs. We are pleased to share that AutoZone is now live on the Quotient network, as is Total Wine & More, the largest adult beverage retailer in the US, and another new vertical for Quotient. Additionally, we are very excited to announce that we have launched Promo Amplification with Rite Aid and have additional retailers in the pipeline we expect to launch over the coming months.

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Network growth outside of retailers continues to expand, and we have several partners in various stages of integration currently underway that we expect to also be live over the coming months. One great example is our partnership with Redbox. Redbox has 40,000 kiosks at the entrance of major retailers and other high traffic areas. They have a loyal fanbase which frequently visits these kiosks, which makes them a perfect partner for Quotient. We look forward to being able to offer more savings value to more shoppers as they start their shopping trips.

Quotient continues to serve its 2,000+ brand partners in delivering performance-based marketing solutions designed to produce a high return on investment (ROI). The company’s focus remains on innovating to deliver further flexibility, automation and personalization to advertisers and retailers—through solutions such as its recently launched, industry-first promotion amplification tool—and on ultimately increasing value to the over 127 million shoppers forecasted to comprise its network after the Albertsons transition.

Outlook

For the fourth quarter of 2021, we expect a portion of our promotions and media revenues to be recognized net of third-party costs. We estimate that this accounting change will reduce revenue and cost of sales by approximately $20 million in Q4 2021. Based on this change, we expect the following:

For the fourth quarter of 2021, we expect:

  • Revenue: $114.0 million to $124.0 million
  • Adjusted EBITDA: $7.0 million to $12.0 million
  • Operating Cash Flow: $0.0 million to $6.0 million

For the full year 2021, we expect:

  • Revenue: $490.0 million to $500.0 million
  • Adjusted EBITDA: $35.0 million to $40.0 million
  • Weighted Average Basic Shares Outstanding: ~93.8 million

Had we not made changes to our business and the accounting for a portion of our business, our revenue guidance would have been approximately $20 million higher for the fourth quarter of 2021 and approximately $24 million higher for the full year. This change has no impact on the guidance for Adjusted EBITDA, operating cash flow or weighted average basic shares outstanding.

We expect the changes we are making to our business to improve profitability over the long term and we are currently taking action to reduce expenses and align our operations with these new expectations. Updates to our 2022 outlook will be provided in early February 2022 when we release our Q4 2021 results.

Conference Call Information

The Company has posted a stockholder letter and an earnings presentation on the Investor Relations section of the Company’s website at: https://investors.quotient.com/. Management will host a conference call and live webcast to discuss the highlights of the quarter and address questions today at 5:00 p.m. ET/ 2:00 p.m. PT.

To access the call, we encourage you to pre-register to eliminate long wait times using this link: Quotient Q3 2021 Earnings Pre Registration. After registering, a confirmation will be sent via email and will include dial-in details and a unique PIN code for entry to the call. Registration will be open through the live call. We suggest registering at least 15 minutes before the start of the call to receive your unique PIN code. You may also access the call and register with a live operator by dialing (866) 270-1533, or outside the U.S. (412) 317-0797, at least 15 minutes prior to the 2:00 p.m. PT start time. The live webcast and all accompanying materials can be accessed on the Investor Relations section of the Company website at: https://investors.quotient.com/. A replay of the webcast will be available on the website following the conference call.

Use of Non-GAAP Financial Measures

Quotient reports its financial statements in accordance with generally accepted accounting principles in the United States (GAAP) and the rules of the Securities and Exchange Commission (SEC). To supplement its financial statements presented in accordance with GAAP, Quotient provides investors in this press release with Adjusted EBITDA, Adjusted EBITDA margin, gross margin and operating expenses, each a non-GAAP financial measure. Quotient believes that these non-GAAP measures provide investors with additional useful information used by Quotient’s management and Board of Directors for financial and operating decision making. In particular, Quotient believes that the exclusion of certain income and expense items in calculating these metrics can provide useful measures for period-to-period comparisons of its core business as well as a useful comparison to peer companies.

Quotient defines Adjusted EBITDA as net income (loss) adjusted for interest expense, provision for (benefit from) income taxes, other (income) expense, net, depreciation and amortization, stock-based compensation, change in fair value of contingent consideration, impairment of certain intangible assets, certain acquisition-related costs, and restructuring charges. In addition, Quotient defines Adjusted EBITDA margin as the ratio of Adjusted EBITDA and revenues; non-GAAP operating expenses as operating expenses adjusted for changes in fair value of contingent consideration, stock-based compensation, amortization of acquired intangible assets, restructuring charges and acquisition related costs; and non-GAAP gross margin as gross margin adjusted for stock-based compensation, amortization of acquired intangible assets, settlement related to a contract dispute, and restructuring charges. Quotient excludes certain GAAP items from these measures because it believes these items are not indicative of ordinary results of operations and do not reflect expected future operating expenses. Additionally, certain items are inconsistent in size and frequency—making it difficult to contribute to a meaningful evaluation of Quotient’s current or past operating performance.

There are a number of limitations related to the use of these non-GAAP financial measures. Quotient compensates for these limitations by providing specific information regarding the GAAP amount excluded from these non-GAAP financial measures and evaluating these non-GAAP financial measures together with their relevant GAAP financial measures.

These non-GAAP financial measures are not intended to be considered in isolation from, as a substitute for, or as superior to the corresponding financial measures prepared in accordance with GAAP. Because of these and other limitations, the non-GAAP financial measures used in this press release should be considered along with other GAAP-based financial performance measures, including various cash flow metrics, net income (loss) and Quotient’s other GAAP financial results.

For a reconciliation of these non-GAAP financial measures to the nearest comparable GAAP financial measures, see “Reconciliation of Net Loss to Adjusted EBITDA and Adjusted EBITDA Margin,” “Reconciliation of Gross Margin to Non-GAAP Gross Margin” and “Reconciliation of Operating Expenses to Non-GAAP Operating Expenses” included in this press release.

A reconciliation of the Adjusted EBITDA guidance metrics, which are non-GAAP guidance measures, to a corresponding GAAP measure is not available on a forward-looking basis without unreasonable efforts due to the high variability and low visibility of certain (income) expense items that are excluded in calculating Adjusted EBITDA.

Forward-Looking Statements

This press release contains forward-looking statements concerning the Company’s current expectations and projections about future events and financial trends affecting its business. Forward-looking statements in this press release include progress on scaling the Company’s platform and reducing low margin business to set up the Company for sustainable, long-term, profitable growth; the Company’s shift away from a lower-margin, labor-intensive managed services business and its movement towards more self-service and platform delivery as leading to, when combined with the transition of Albertsons, cost reductions, higher margins and better outcomes for the Company’s retailers and advertisers as well as shoppers in its network; the presence of additional retailer partner customers in the Company’s pipeline that it expects to launch in the coming months; the Company’s network outside of retailers as continuing to expand, with the Company having several partners in various stages of integration currently underway that it expects also to be live over the coming months; the number of shoppers forecasted to comprise the Company’s network over the coming months; the Company’s focus on automation-delivering, personalization-delivering and flexibility-delivering innovation, including through solutions such as its recently-launched promotion amplification tool, as ultimately increasing value to shoppers in its network; the future financial performance of Quotient (including the impact of recognizing a portion of its revenue net of third-party costs as well as guidance for the fourth quarter of 2021 and the full year 2022 including an expected significant lowering of revenue results beginning in the first quarter of 2022); our expectation that in the first quarter of 2022 a larger portion of revenues will be recognized on a net basis and that there will be a reduction in revenue related to the termination of the Albertsons business; and the Company’s expectation that the changes that it is making to its business will improve profitability over the long term. Forward-looking statements are based on the Company’s current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, the Company’s ability to increase value to shoppers in its network, generate positive cash flow and become profitable; the amount and timing of digital marketing spend by advertisers (including consumer packaged goods (CPG) companies) and shifts in advertiser spend to digital solutions; the Company’s expectations regarding other growth drivers including its ability to expand its relationships with retailers and obtain and maintain retailer support for its platforms, and its ability to maintain and expand the use by consumers of digital promotions on its platforms; the Company’s ability to innovate (including its shift away from a lower-margin, labor-intensive managed services business and its movement towards more self-service and platform delivery); the Company’s ability to adapt to changing market conditions and data regulations, including the Company’s ability to adapt to changes in consumer habits and consumer data privacy concerns; the impacts of the ongoing COVID-19 pandemic, which may continue to impact the Company’s business, plans and results of operations, as well as the value of the Company’s common stock; and other factors identified in the Company’s filings with the SEC, including its Annual Report on Form 10-K filed with the SEC on February 23, 2021 and Quarterly Reports on Forms 10-Q filed with the SEC on May 10, 2021 and August 6, 2021, and future filings and reports by the Company. Quotient disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise and does not assume responsibility for the accuracy and completeness of the forward-looking statements.

About Quotient

Quotient (NYSE: QUOT) is the leading digital media and promotions technology company for advertisers, retailers and consumers. Quotient’s omnichannel platform is powered by exclusive consumer spending data, location intelligence and purchase intent data to reach millions of shoppers daily and deliver measurable, incremental sales.

Quotient partners with leading advertisers and retailers, including Clorox, Procter & Gamble, General Mills, Unilever, Albertsons Companies, CVS, Dollar General and Peapod Digital Labs, a company of Ahold Delhaize USA. Quotient is headquartered in Salt Lake City, Utah and has offices across the US as well as in Bangalore, Paris, London and Tel Aviv. For more information visit www.quotient.com.

Quotient and the Quotient logo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United States and other countries. Other marks are the property of their respective owners.

QUOTIENT TECHNOLOGY INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
 

September 30,

2021

December 31,

2020

(unaudited)
Assets
Current assets:
Cash and cash equivalents

$

244,945

 

$

222,752

 

Accounts receivable, net

 

156,404

 

 

137,649

 

Prepaid expenses and other current assets

 

14,437

 

 

18,547

 

Total current assets

 

415,786

 

 

378,948

 

Property and equipment, net

 

21,819

 

 

17,268

 

Operating lease right-of-use-assets

 

20,755

 

 

16,222

 

Intangible assets, net

 

15,978

 

 

44,898

 

Goodwill

 

128,427

 

 

128,427

 

Other assets

 

1,774

 

 

1,029

 

Total assets

$

604,539

 

$

586,792

 

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable

$

14,997

 

$

15,959

 

Accrued compensation and benefits

 

19,604

 

 

14,368

 

Other current liabilities

 

80,978

 

 

70,620

 

Deferred revenues

 

21,154

 

 

12,027

 

Contingent consideration related to acquisitions

 

21,655

 

 

8,524

 

Total current liabilities

 

158,388

 

 

121,498

 

Operating lease liabilities

 

22,182

 

 

15,956

 

Other non-current liabilities

 

746

 

 

2,358

 

Contingent consideration related to acquisitions

 

 

 

20,930

 

Convertible senior notes, net

 

185,823

 

 

177,168

 

Deferred tax liabilities

 

1,853

 

 

1,853

 

Total liabilities

 

368,992

 

 

339,763

 

 
Stockholders’ equity:
Common stock

 

1

 

 

1

 

Additional paid-in capital

 

725,401

 

 

698,333

 

Accumulated other comprehensive loss

 

(1,093

)

 

(1,001

)

Accumulated deficit

 

(488,762

)

 

(450,304

)

Total stockholders’ equity

 

235,547

 

 

247,029

 

Total liabilities and stockholders’ equity

$

604,539

 

$

586,792

 

QUOTIENT TECHNOLOGY INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per share data)
 

Three Months Ended

September 30,

Nine Months Ended

September 30,

2021

 

2020

 

2021

 

2020

Revenues

$

135,884

 

$

121,116

 

$

375,080

 

$

303,358

 

Cost of revenues (1)

 

86,535

 

 

73,603

 

 

240,680

 

 

185,445

 

Gross margin

 

49,349

 

 

47,513

 

 

134,400

 

 

117,913

 

Operating Expenses:
Sales and marketing (1)

 

29,401

 

 

24,555

 

 

85,233

 

 

73,403

 

Research and development (1)

 

11,074

 

 

9,744

 

 

34,541

 

 

28,958

 

General and administrative (1)

 

12,244

 

 

12,099

 

 

40,086

 

 

39,457

 

Change in fair value of contingent consideration

 

245

 

 

1,562

 

 

772

 

 

5,788

 

Total operating expenses

 

52,964

 

 

47,960

 

 

160,632

 

 

147,606

 

Loss from operations

 

(3,615

)

 

(447

)

 

(26,232

)

 

(29,693

)

Interest expense

 

(3,809

)

 

(3,646

)

 

(11,306

)

 

(10,830

)

Other income (expense), net

 

(96

)

 

(59

)

 

(130

)

 

708

 

Loss before income taxes

 

(7,520

)

 

(4,152

)

 

(37,668

)

 

(39,815

)

Provision for income taxes

 

323

 

 

66

 

 

790

 

 

261

 

Net loss

$

(7,843

)

$

(4,218

)

$

(38,458

)

$

(40,076

)

 
Net loss per share, basic and diluted

$

(0.08

)

$

(0.05

)

$

(0.41

)

$

(0.44

)

 
Weighted-average shares used to compute net loss per share, basic and diluted

 

94,133

 

 

90,585

 

 

93,408

 

 

90,113

 

 
(1) The stock-based compensation expense included above was as follows:
 

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

2021

 

2020

 

2021

 

2020

Cost of revenues

$

525

 

$

442

 

$

1,349

 

$

1,264

 

Sales and marketing

 

1,411

 

 

1,187

 

 

3,847

 

 

3,912

 

Research and development

 

1,076

 

 

1,003

 

 

3,025

 

 

2,723

 

General and administrative

 

1,678

 

 

3,857

 

 

8,853

 

 

13,122

 

Total stock-based compensation

$

4,690

 

$

6,489

 

$

17,074

 

$

21,021

 

QUOTIENT TECHNOLOGY INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)
 

Nine Months Ended

September 30,

2021

 

2020

 
Cash flows from operating activities:
Net loss

$

(38,458

)

$

(40,076

)

Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization

 

24,425

 

 

26,522

 

Stock-based compensation

 

17,074

 

 

21,021

 

Amortization of debt discount and issuance cost

 

8,655

 

 

8,203

 

Impairment of intangible assets

 

9,086

 

 

 

Allowance for credit losses

 

115

 

 

542

 

Deferred income taxes

 

790

 

 

261

 

Change in fair value of contingent consideration

 

772

 

 

5,788

 

Other non-cash expenses

 

3,236

 

 

2,546

 

Changes in operating assets and liabilities:
Accounts receivable

 

(18,871

)

 

2,615

 

Prepaid expenses and other current assets

 

3,264

 

 

158

 

Accounts payable and other current liabilities

 

7,952

 

 

4,893

 

Payments for contingent consideration and bonuses

 

(2,901

)

 

(15,418

)

Accrued compensation and benefits

 

5,445

 

 

(4,334

)

Deferred revenues

 

9,127

 

 

450

 

Net cash provided by operating activities

 

29,711

 

 

13,171

 

 
Cash flows from investing activities:
Purchases of property and equipment

 

(10,773

)

 

(6,648

)

Purchase of intangible assets

 

 

 

(3,000

)

Net cash used in investing activities

 

(10,773

)

 

(9,648

)

 
Cash flows from financing activities:
Proceeds from issuances of common stock under stock plans

 

14,794

 

 

1,579

 

Payments for taxes related to net share settlement of equity awards

 

(5,286

)

 

(5,456

)

Principal payments on promissory note and finance lease obligations

 

(169

)

 

(100

)

Payments for contingent consideration

 

(6,121

)

 

(14,582

)

Net cash provided by (used in) financing activities

 

3,218

 

 

(18,559

)

Effect of exchange rates on cash and cash equivalents

 

37

 

 

126

 

Net increase (decrease) in cash and cash equivalents

 

22,193

 

 

(14,910

)

Cash and cash equivalents at beginning of period

 

222,752

 

 

224,764

 

Cash and cash equivalents at end of period

$

244,945

 

$

209,854

 

 
QUOTIENT TECHNOLOGY INC.
RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN
(Unaudited, in thousands)
 

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

2021

 

2020

 

2021

 

2020

$%$%$%$%
Net Loss ($) / Loss Margin (%) (2)

$

(7,843

)

(6

%)

$

(4,218

)

(3

%)

$

(38,458

)

(10

%)

$

(40,076

)

(13

%)

Adjustments:
Stock-based compensation

 

4,690

 

3

%

 

6,489

 

5

%

 

17,074

 

5

%

 

21,021

 

7

%

Depreciation and amortization

 

7,287

 

6

%

 

10,685

 

9

%

 

24,425

 

7

%

 

30,020

 

9

%

Acquisition related costs and other (1)

 

8,720

 

7

%

 

387

 

 

 

12,453

 

3

%

 

991

 

 

Change in fair value of contingent consideration

 

245

 

 

 

1,562

 

1

%

 

772

 

 

 

5,788

 

2

%

Interest expense

 

3,809

 

3

%

 

3,646

 

3

%

 

11,306

 

3

%

 

10,830

 

4

%

Other (income) expense, net

 

96

 

 

 

59

 

 

 

130

 

 

 

(708

)

 

Provision for income taxes

 

323

 

 

 

66

 

 

 

790

 

 

 

261

 

 

 
Total adjustments

$

25,170

 

19

%

$

22,894

 

18

%

$

66,950

 

18

%

$

68,203

 

22

%

 
Adjusted EBITDA ($) / Adjusted EBITDA Margin (%) (2)

$

17,327

 

13

%

$

18,676

 

15

%

$

28,492

 

8

%

$

28,127

 

9

%

 
(1) For the three and nine months ended September 30, 2021, "other" includes a charge of $6.5 million and $9.1 million, respectively, related to the impairment of certain intangible assets due to the termination of our partnership with Albertsons, and restructuring charges of $1.8 million and $2.0 million, respectively, for such periods. For the three and nine months ended September 30, 2020, "other" includes restructuring charges of zero and $1.5 million, respectively, and a $2.0 million loss contingency for both respective periods, related to a contract dispute with Albertsons associated with a guaranteed distribution fee arrangement.
 
(2) Profit (Loss) Margin and Adjusted EBITDA Margin is the ratio of Profit (Loss) to Revenues and Adjusted EBITDA to Revenues.
QUOTIENT TECHNOLOGY INC.
RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
(Unaudited, in thousands)
 
Q3 FY 20Q2 FY 21Q3 FY 21
Revenues

$

121,116

 

$

123,880

 

$

135,884

 

 

 

 

Cost of revenues (GAAP)

$

73,603

 

$

82,161

 

$

86,535

 

(less) Stock-based compensation

 

(442

)

 

(401

)

 

(525

)

(less) Amortization of acquired intangible assets

 

(6,026

)

 

(5,276

)

 

(4,396

)

(less) Loss contingency related to a contract dispute

 

(2,000

)

 

 

 

 

(less) Impairment of certain intangible assets

 

 

 

(2,580

)

 

(6,506

)

(less) Restructuring charges

 

 

 

 

 

(5

)

Cost of revenues (Non-GAAP)

$

65,135

 

$

73,904

 

$

75,103

 

 

 

 

 

 

 

Gross margin (GAAP)

$

47,513

 

$

41,719

 

$

49,349

 

Gross margin percentage (GAAP)

 

39.2

%

 

33.7

%

 

36.3

%

 

 

 

Gross margin (Non-GAAP)*

$

55,981

 

$

49,976

 

$

60,781

 

Gross margin percentage (Non-GAAP)

 

46.2

%

 

40.3

%

 

44.7

%

 
* Non-GAAP gross margin excludes stock-based compensation, amortization of acquired intangible assets, loss contingency related to a contract dispute, impairment of certain intangible assets, and restructuring charges.
 
QUOTIENT TECHNOLOGY INC.
RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
(Unaudited, in thousands)
 
Q3 FY 20Q4 FY 20Q1 FY 21Q2 FY 21Q3 FY 21
Revenues

$

121,116

 

$

142,529

 

$

115,316

 

$

123,880

 

$

135,884

 

 
Sales and marketing expenses

 

24,555

 

 

31,124

 

 

27,365

 

 

28,467

 

 

29,401

 

(less) Stock-based compensation

 

(1,187

)

 

(1,399

)

 

(1,255

)

 

(1,181

)

 

(1,411

)

(less) Amortization of acquired intangible assets

 

(866

)

 

(866

)

 

(866

)

 

(866

)

 

(837

)

(less) Restructuring charges

 

 

 

 

 

 

 

(217

)

 

(903

)

Non-GAAP Sales and marketing expenses

$

22,502

 

$

28,859

 

$

25,244

 

$

26,203

 

$

26,250

 

Non-GAAP Sales and marketing percentage

 

19

%

 

20

%

 

22

%

 

21

%

 

19

%

 
Research and development

 

9,744

 

 

11,358

 

 

12,056

 

 

11,411

 

 

11,074

 

(less) Stock-based compensation

 

(1,003

)

 

(1,108

)

 

(972

)

 

(977

)

 

(1,076

)

(less) Restructuring charges

 

 

 

 

 

 

 

 

 

(463

)

Non-GAAP Research and development expenses

$

8,741

 

$

10,250

 

$

11,084

 

$

10,434

 

$

9,535

 

Non-GAAP Research and development percentage

 

7

%

 

7

%

 

10

%

 

8

%

 

7

%

 
General and administrative expenses

 

12,099

 

 

14,720

 

 

12,833

 

 

15,009

 

 

12,244

 

(less) Stock-based compensation

 

(3,857

)

 

(4,364

)

 

(3,194

)

 

(3,981

)

 

(1,678

)

(less) Restructuring charges

 

 

 

 

 

 

 

 

 

(463

)

(less) Acquisition related costs

 

(393

)

 

(1,039

)

 

(482

)

 

(453

)

 

(380

)

Non-GAAP General and administrative expenses

$

7,849

 

$

9,317

 

$

9,157

 

$

10,575

 

$

9,723

 

Non-GAAP General and administrative percentage

 

6

%

 

7

%

 

8

%

 

9

%

 

7

%

 
Non-GAAP Operating expenses*

$

39,092

 

$

48,426

 

$

45,485

 

$

47,212

 

$

45,508

 

Non-GAAP Operating expense percentage

 

32

%

 

34

%

 

39

%

 

38

%

 

33

%

 
* Non-GAAP operating expenses excludes changes in fair value of contingent consideration, stock-based compensation, amortization of acquired intangible assets, restructuring charges, and acquisition related costs.

 

View source version on businesswire.com:https://www.businesswire.com/news/home/20211103006179/en/

CONTACT: Investor Relations:

Marc Griffin

ICR for Quotient

ir@quotient.com

Phone: 646-277-1290

KEYWORD: UTAH UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY OTHER COMMUNICATIONS MARKETING ADVERTISING OTHER TECHNOLOGY COMMUNICATIONS SOFTWARE NETWORKS DATA MANAGEMENT SEARCH ENGINE MARKETING

SOURCE: Quotient Technology Inc.

Copyright Business Wire 2021.

PUB: 11/03/2021 04:05 PM/DISC: 11/03/2021 04:06 PM

http://www.businesswire.com/news/home/20211103006179/en