Bottomline Technologies Reports Second Quarter Results
Bottomline Technologies (Nasdaq:EPAY), a leading provider of
financial technology that helps make complex business payments
simple, smart and secure, today reported financial results for the
second quarter ended December 31, 2018.
Subscription and transaction revenues were $71.3 million for the
second quarter, up 13%, or 14% on a constant currency basis, as
compared to the second quarter of last year. Revenues overall
for the second quarter were $104.8 million, up 10%, or 11% on a
constant currency basis, as compared to the second quarter of last
year. Constant currency growth is calculated as discussed in
the “Non-GAAP Financial Measures” section that follows.
GAAP net income for the second quarter was $6.0 million compared
to a GAAP net income of $3.1 million for the second quarter of last
year. GAAP net income per share was $0.14 in the second quarter
compared to $0.08 in the second quarter of last year.
Adjusted EBITDA for the second quarter was $25.6 million
compared to $22.5 million for the second quarter of last
year. Adjusted EBITDA for the second quarter was 24% of
overall revenue, consistent with the second quarter of last year.
Adjusted EBITDA is calculated as discussed in the “Non-GAAP
Financial Measures” section that follows.
Core net income for the second quarter was $14.6 million
compared to $12.2 million for the second quarter of last year and
core earnings per share was $0.35 for the second quarter compared
to $0.31 for the second quarter of last year. Core net income and
core earnings per share exclude certain items as discussed in the
“Non-GAAP Financial Measures” section that follows.
“Bottomline delivered a solid second quarter performance,” said
Rob Eberle, President and CEO. “Our strong operating results
reflected continued execution against our strategic plan. We
had notable customer wins across our business payments platforms as
customers continued to choose Bottomline for innovative and highly
secure business payments solutions. We are well positioned in the
large business payments marketplace. Our product strategy and
execution are targeted to drive sustained growth for years to
come.”
Second Quarter Customer Highlights
- 29 institutions selected Paymode-X, Bottomline’s leading
payments platform, to automate their payments processes, increase
productivity and security, reduce costs and earn cash
rebates.
- 7 organizations, including Arch Insurance and York Risk
Services, chose Bottomline's cloud-based legal spend management
solutions to automate, manage and control their legal spend.
- 2 banks selected Bottomline’s banking solutions platforms to
help them compete and grow their corporate and business banking
franchises by deploying innovative digital capabilities.
- Companies such as Revolut Ltd and Swiss Re selected
Bottomline’s Financial Messaging solution to improve operating
efficiencies and optimize the effectiveness of their financial
transactions.
- Organizations such as Snap-on Inc. chose Bottomline’s corporate
payment automation solutions to expand their payments capabilities
and improve efficiencies.
Second Quarter Strategic Corporate
Highlights
- Bottomline’s leading UK business payment solution, PT-X, was
named B2B Payments Innovation of the Year. This award
recognizes payments excellence and technology innovation and
advances that are redefining the B2B payments process. PT-X
was also recognized with the award for Email Product of Year by the
Document Management Awards.
- In conjunction with Visa, Bottomline announced the release of
The Future of Business Payments eBook, a comprehensive set of
perspectives on the rapidly evolving B2B payments landscape from
leading industry experts.
- Announced several product updates to Paymode-X which continues
to fortify its position as the most secure business payments
network. Updates include expanded integration with Bottomline’s
Cyber Fraud and Risk Management (CFRM) capabilities to monitor key
operational actions and detect suspicious activities.
- Named to the FinTech Power 50, an annual guide of the most
influential, innovative and powerful companies and figures in the
Fintech industry.
Non-GAAP Financial Measures
We have presented supplemental non-GAAP financial measures as
part of this earnings release. The presentation of this non-GAAP
financial information should not be considered in isolation from,
or as a substitute for, our financial results presented in
accordance with GAAP. Core net income, core earnings per share,
constant currency information, adjusted EBITDA and adjusted EBITDA
as a percent of revenue are all non-GAAP financial measures.
Core net income and core earnings per share exclude certain
items, specifically amortization of acquisition related intangible
assets, stock-based compensation, acquisition and
integration-related expenses, restructuring related costs, minimum
pension liability adjustments, non-core charges associated with
certain debt instruments, global enterprise resource planning (ERP)
system implementation and other costs and other non-core or
non-recurring gains or losses that may arise from time to time.
Non-core charges associated with our debt instruments consist of
amortization of debt issuance and debt discount costs. Acquisition
and integration-related expenses include legal and professional
fees and other direct transaction costs associated with business
and asset acquisitions, costs associated with integrating acquired
businesses, including costs for transitional employees or services
and integration related professional services costs and other
incremental charges we incur as a direct result of acquisition and
integration efforts. Global ERP system implementation and other
costs relate to direct and incremental costs incurred in connection
with our multi-phase implementation of a new, global ERP solution
and the related technology infrastructure and costs related to our
implementation of the new revenue recognition standard under US
GAAP.
Periodically, such as in periods that include significant
foreign currency volatility, we present certain metrics on a
“constant currency” basis, to show the impact of period to period
results normalized for the impact of foreign currency rate changes.
We calculate constant currency information by translating prior
period financial results using current period foreign exchange
rates.
Adjusted EBITDA and adjusted EBITDA as a percent of revenue
represent our GAAP net income or loss, adjusted for charges related
to interest expense, income taxes, depreciation and amortization
and other charges, as noted in the reconciliation that follows.
We believe that these supplemental non-GAAP financial measures
are useful to investors because they allow for an evaluation of the
company with a focus on the performance of its core operations,
including more meaningful comparisons of financial results to
historical periods and to the financial results of less acquisitive
peer and competitor companies. Our executive management team uses
these same non-GAAP financial measures internally to assess the
ongoing performance of the company. Additionally, the same non-GAAP
information is used for planning purposes, including the
preparation of operating budgets and in communications with our
board of directors with respect to our core financial performance.
Since this information is not a GAAP measurement of financial
performance, there are material limitations to its usefulness on a
stand-alone basis, including the lack of comparability of this
presentation to the GAAP financial results of other companies.
Reconciliation of Core Net IncomeA reconciliation of core net
income to GAAP net income (loss) for the three and six months ended
December 31, 2018 and 2017 is as follows:
|
|
|
|
|
Three Months EndedDecember 31, |
|
Six Months EndedDecember 31, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
|
|
(in thousands) |
GAAP net income (loss) |
$ |
5,969 |
|
|
$ |
3,088 |
|
|
$ |
5,051 |
|
|
$ |
(1,153 |
) |
Amortization of acquisition-related intangible assets |
5,253 |
|
|
5,702 |
|
|
10,579 |
|
|
10,890 |
|
Stock-based compensation plan expense |
9,549 |
|
|
8,080 |
|
|
21,891 |
|
|
16,540 |
|
Acquisition and integration-related expenses |
710 |
|
|
380 |
|
|
1,593 |
|
|
1,372 |
|
Restructuring expense (benefit) |
54 |
|
|
— |
|
|
631 |
|
|
(9 |
) |
Global ERP system implementation and other costs |
972 |
|
|
1,339 |
|
|
2,553 |
|
|
3,415 |
|
Other non-core benefit |
— |
|
|
— |
|
|
(237 |
) |
|
— |
|
Minimum pension liability adjustments |
(80 |
) |
|
3 |
|
|
(155 |
) |
|
38 |
|
Amortization of debt issuance and debt discount costs |
104 |
|
|
2,576 |
|
|
208 |
|
|
6,285 |
|
Non-recurring tax benefit (1) |
— |
|
|
(4,402 |
) |
|
— |
|
|
(4,402 |
) |
Tax effects on non-GAAP income |
(7,969 |
) |
|
(4,577 |
) |
|
(13,976 |
) |
|
(9,119 |
) |
Core net income |
$ |
14,562 |
|
|
$ |
12,189 |
|
|
$ |
28,138 |
|
|
$ |
23,857 |
|
|
|
(1) |
The non-recurring tax benefit in the three and six months ended
December 31, 2017 reflects the net benefit arising from the U.S.
Tax Cuts and Jobs Act, principally from the revaluation of
U.S.-based deferred tax liabilities. |
|
|
Reconciliation of Diluted Core Earnings per ShareA
reconciliation of our diluted core earnings per share to our GAAP
diluted net income (loss) per share for the three and six months
ended December 31, 2018 and 2017 is as follows:
|
|
|
|
|
Three Months EndedDecember 31, |
|
Six Months EndedDecember 31, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
|
|
|
|
|
|
|
GAAP diluted net income (loss) per share |
$ |
0.14 |
|
|
$ |
0.08 |
|
|
$ |
0.12 |
|
|
$ |
(0.03 |
) |
|
|
|
|
|
|
|
|
Plus: |
|
|
|
|
|
|
|
Amortization of acquisition-related intangible assets |
0.13 |
|
|
0.15 |
|
|
0.25 |
|
|
0.28 |
|
Stock-based compensation plan expense |
0.23 |
|
|
0.21 |
|
|
0.53 |
|
|
0.43 |
|
Acquisition and integration-related expenses |
0.02 |
|
|
0.01 |
|
|
0.04 |
|
|
0.04 |
|
Restructuring expense (benefit) |
— |
|
|
— |
|
|
0.02 |
|
|
— |
|
Global ERP system implementation and other costs |
0.02 |
|
|
0.03 |
|
|
0.06 |
|
|
0.09 |
|
Amortization of debt issuance and debt discount costs |
— |
|
|
0.06 |
|
|
— |
|
|
0.16 |
|
Non-recurring tax benefit |
— |
|
|
(0.11 |
) |
|
— |
|
|
(0.11 |
) |
Tax effects on non-GAAP income |
(0.19 |
) |
|
(0.12 |
) |
|
(0.34 |
) |
|
(0.24 |
) |
|
|
|
|
|
|
|
|
Diluted core earnings per
share |
$ |
0.35 |
|
|
$ |
0.31 |
|
|
$ |
0.68 |
|
|
$ |
0.62 |
|
Non-GAAP Financial Measures (Continued)
A reconciliation of our non-GAAP weighted average shares used in
computing diluted core earnings per share to our GAAP weighted
average shares used in computing basic and diluted net income
(loss) per share for the three and six months ended
December 31, 2018 and 2017 is as follows:
|
|
|
|
|
Three Months EndedDecember 31, |
|
Six Months EndedDecember 31, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
|
|
(in thousands) |
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Core net income |
$ |
14,562 |
|
|
$ |
12,189 |
|
|
$ |
28,138 |
|
|
$ |
23,857 |
|
|
|
|
|
|
|
|
|
Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares used
in computing basic net income (loss) per share for GAAP |
40,635 |
|
|
38,087 |
|
|
40,162 |
|
|
37,908 |
|
|
|
|
|
|
|
|
|
Impact of dilutive securities
(shares related to conversion feature on convertible senior notes,
stock options, warrants, restricted stock awards and employee stock
purchase plan) (1) |
1,104 |
|
|
1,257 |
|
|
1,500 |
|
|
919 |
|
|
|
|
|
|
|
|
|
GAAP diluted shares |
41,739 |
|
|
39,344 |
|
|
41,662 |
|
|
38,827 |
|
|
|
|
|
|
|
|
|
Impact of note hedges (2) |
— |
|
|
(436 |
) |
|
— |
|
|
(217 |
) |
|
|
|
|
|
|
|
|
Weighted average shares used
in computing diluted core earnings per share |
41,739 |
|
|
38,908 |
|
|
41,662 |
|
|
38,610 |
|
|
|
(1) |
These securities are dilutive on a GAAP basis in periods where we
report GAAP net income. These securities are anti-dilutive on a
GAAP basis in periods where we report GAAP net loss. |
|
|
(2) |
In computing diluted core earnings per share, we exclude the
weighted average dilutive effect of shares issuable under our
convertible senior notes to the extent that any such dilution would
be offset by our note hedges; the note hedges would be considered
an anti-dilutive security under GAAP. |
|
|
Constant Currency ReconciliationThe table below is a comparative
summary of our total revenues and our subscription and transaction
revenues shown with a constant currency growth rate:
|
|
|
|
|
Three Months EndedDecember 31, |
|
% Increase |
|
2018 |
|
2017 |
|
GAAPGrowthRate |
|
ImpactfromCurrency |
|
ConstantCurrencyGrowthRates (1) |
|
|
|
|
|
|
|
|
|
(in thousands) |
|
|
|
|
|
|
Subscriptions and transactions revenues |
$ |
71,288 |
|
|
$ |
63,187 |
|
|
13 |
% |
|
1 |
% |
|
14 |
% |
|
|
|
|
|
|
|
|
|
|
Total Revenues |
104,846 |
|
|
95,195 |
|
|
10 |
% |
|
1 |
% |
|
11 |
% |
|
|
(1) |
Constant currency information compares results between periods as
if exchange rates had remained constant period-over-period. We
calculate constant currency information by translating prior-period
results using current period GAAP foreign exchange rates. |
|
|
Reconciliation of Adjusted EBITDAA reconciliation of our
adjusted EBITDA to GAAP net income (loss) for the three and six
months ended December 31, 2018 and 2017 is as follows:
|
|
|
|
|
Three Months EndedDecember 31, |
|
Six Months EndedDecember 31, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
|
|
(in thousands) |
GAAP net income (loss) |
$ |
5,969 |
|
|
$ |
3,088 |
|
|
$ |
5,051 |
|
|
$ |
(1,153 |
) |
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
Other expense, net (1) |
1,111 |
|
|
3,532 |
|
|
2,151 |
|
|
7,995 |
|
Income tax benefit |
(3,519 |
) |
|
(4,495 |
) |
|
(4,853 |
) |
|
(4,038 |
) |
Depreciation and amortization |
5,551 |
|
|
4,875 |
|
|
11,191 |
|
|
9,543 |
|
Amortization of acquisition-related intangible assets |
5,253 |
|
|
5,702 |
|
|
10,579 |
|
|
10,890 |
|
Stock-based compensation plan expense |
9,549 |
|
|
8,080 |
|
|
21,891 |
|
|
16,540 |
|
Acquisition and integration-related expenses |
710 |
|
|
380 |
|
|
1,593 |
|
|
1,372 |
|
Restructuring expense (benefit) |
54 |
|
|
— |
|
|
631 |
|
|
(9 |
) |
Minimum pension liability adjustments |
(80 |
) |
|
3 |
|
|
(155 |
) |
|
38 |
|
Global ERP system implementation and other costs |
972 |
|
|
1,339 |
|
|
2,553 |
|
|
3,415 |
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
$ |
25,570 |
|
|
$ |
22,504 |
|
|
$ |
50,632 |
|
|
$ |
44,593 |
|
|
|
(1) |
On July 1, 2018, we adopted an accounting standard update that
changes the classification of certain pension related items.
Accordingly, pension related benefits of approximately $0.2 million
and $0.4 million were reclassified from income from operations to
other expense, net for the three and six months ended December 31,
2017, respectively, in our consolidated statement of operations.
For purposes of the reconciliation of adjusted EBITDA, we have
presented pension related adjustments discretely, not as a
component of other expense, net. |
|
|
Adjusted EBITDA as a percent of RevenueA reconciliation of GAAP
net income (loss) as a percent of revenue to adjusted EBITDA as a
percent of revenue for the three and six months ended
December 31, 2018 and 2017 is as follows:
|
|
|
|
|
Three Months EndedDecember 31, |
|
Six Months EndedDecember 31, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
|
|
|
|
|
|
|
GAAP net income (loss) as a percent of revenue |
6 |
% |
|
3 |
% |
|
2 |
% |
|
(1 |
%) |
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
Other expense, net |
1 |
% |
|
4 |
% |
|
1 |
% |
|
4 |
% |
Income tax benefit |
(3 |
%) |
|
(5 |
%) |
|
(2 |
%) |
|
(2 |
%) |
Depreciation and amortization |
5 |
% |
|
5 |
% |
|
5 |
% |
|
5 |
% |
Amortization of acquisition-related intangible assets |
5 |
% |
|
6 |
% |
|
5 |
% |
|
6 |
% |
Stock-based compensation plan expense |
9 |
% |
|
9 |
% |
|
11 |
% |
|
9 |
% |
Acquisition and integration-related expenses |
0 |
% |
|
0 |
% |
|
1 |
% |
|
1 |
% |
Global ERP system implementation and other costs |
1 |
% |
|
2 |
% |
|
1 |
% |
|
2 |
% |
|
|
|
|
|
|
|
|
Adjusted EBITDA as a percent
of revenue |
24 |
% |
|
24 |
% |
|
24 |
% |
|
24 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
About Bottomline TechnologiesBottomline
Technologies (Nasdaq: EPAY) helps make complex business payments
simple, smart, and secure. Corporations and banks rely on us for
state of the art domestic and international payments, efficient
cash management, payment processing, bill review, and fraud
detection, behavioral analytics and regulatory compliance
solutions. Thousands of corporations around the world benefit from
Bottomline solutions. Headquartered in Portsmouth, NH, Bottomline
delights customers through offices across the U.S., Europe, and
Asia-Pacific. For more information visit www.bottomline.com.
Bottomline Technologies, Paymode-X and the BT logo are
trademarks of Bottomline Technologies (de), Inc. which are
registered in certain jurisdictions. All other brand/product names
are trademarks of their respective holders.
In connection with this earning’s release and our associated
conference call, we will be posting additional material financial
information (such as financial results, non-GAAP financial
projections and non-GAAP to GAAP reconciliations) within the
“Investors” section of our website at
www.bottomline.com/us/about/investors.
Cautionary LanguageThis press release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements reflecting our
expectations about our ability to execute on our strategic plans,
achieve future growth and profitability, achieve financial targets,
expand margins and increase shareholder value. Any statements
that are not statements of historical fact (including but not
limited to statements containing the words “believes,” “plans,”
“anticipates,” “expects,” “look forward”, “confident”, “estimates,”
“targeted” and similar expressions) should be considered to be
forward-looking statements. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors including, among others,
competition, market demand, technological change, strategic
relationships, recent acquisitions, international operations and
general economic conditions. For additional discussion of factors
that could impact Bottomline Technologies' operational and
financial results, refer to our Form 10-K for the fiscal year ended
June 30, 2018 and the subsequently filed Form 10-Q’s and Form 8-K’s
or amendments thereto. Any forward-looking statements represent our
views only as of today and should not be relied upon as
representing our views as of any subsequent date. We do not assume
any obligation to update any forward-looking statements.
Media Contact:Rick BoothBottomline
Technologies603.501.6270rbooth@bottomline.com
|
Bottomline Technologies |
Unaudited Condensed Consolidated Statement of
Operations |
(in thousands, except per share amounts) |
|
|
|
|
|
|
|
|
|
Three Months EndedDecember 31, |
|
Six Months EndedDecember 31, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
Revenues: |
|
|
|
|
|
|
|
Subscriptions and transactions |
$ |
71,288 |
|
|
$ |
63,187 |
|
|
$ |
141,056 |
|
|
$ |
123,901 |
|
Software licenses |
5,665 |
|
|
2,620 |
|
|
10,177 |
|
|
4,985 |
|
Service and maintenance |
26,786 |
|
|
28,433 |
|
|
54,191 |
|
|
55,775 |
|
Other |
1,107 |
|
|
955 |
|
|
1,859 |
|
|
1,830 |
|
|
|
|
|
|
|
|
|
Total revenues |
104,846 |
|
|
95,195 |
|
|
207,283 |
|
|
186,491 |
|
|
|
|
|
|
|
|
|
Cost of revenues: |
|
|
|
|
|
|
|
Subscriptions and transactions |
31,352 |
|
|
27,211 |
|
|
63,021 |
|
|
54,633 |
|
Software licenses |
210 |
|
|
229 |
|
|
441 |
|
|
399 |
|
Service and maintenance |
12,528 |
|
|
13,034 |
|
|
25,234 |
|
|
25,334 |
|
Other |
891 |
|
|
701 |
|
|
1,415 |
|
|
1,368 |
|
Total cost of revenues |
44,981 |
|
|
41,175 |
|
|
90,111 |
|
|
81,734 |
|
|
|
|
|
|
|
|
|
Gross profit |
59,865 |
|
|
54,020 |
|
|
117,172 |
|
|
104,757 |
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
Sales and marketing |
22,585 |
|
|
21,441 |
|
|
45,607 |
|
|
40,790 |
|
Product development and engineering |
16,815 |
|
|
13,938 |
|
|
33,380 |
|
|
27,802 |
|
General and administrative |
11,904 |
|
|
10,989 |
|
|
25,769 |
|
|
22,826 |
|
Amortization of acquisition-related intangible assets |
5,253 |
|
|
5,702 |
|
|
10,579 |
|
|
10,890 |
|
Total operating expenses |
56,557 |
|
|
52,070 |
|
|
115,335 |
|
|
102,308 |
|
|
|
|
|
|
|
|
|
Income from operations |
3,308 |
|
|
1,950 |
|
|
1,837 |
|
|
2,449 |
|
|
|
|
|
|
|
|
|
Other expense, net |
(858 |
) |
|
(3,357 |
) |
|
(1,639 |
) |
|
(7,640 |
) |
|
|
|
|
|
|
|
|
Income (loss) before income
taxes |
2,450 |
|
|
(1,407 |
) |
|
198 |
|
|
(5,191 |
) |
|
|
|
|
|
|
|
|
Income tax benefit |
3,519 |
|
|
4,495 |
|
|
4,853 |
|
|
4,038 |
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
5,969 |
|
|
$ |
3,088 |
|
|
$ |
5,051 |
|
|
$ |
(1,153 |
) |
|
|
|
|
|
|
|
|
Net income (loss) per
share: |
|
|
|
|
|
|
|
Basic |
$ |
0.15 |
|
|
$ |
0.08 |
|
|
$ |
0.13 |
|
|
$ |
(0.03 |
) |
Diluted |
$ |
0.14 |
|
|
$ |
0.08 |
|
|
$ |
0.12 |
|
|
$ |
(0.03 |
) |
|
|
|
|
|
|
|
|
Shares used in computing net
income (loss) per share: |
|
|
|
|
|
|
|
Basic |
40,635 |
|
|
38,087 |
|
|
40,162 |
|
|
37,908 |
|
Diluted |
41,739 |
|
|
39,344 |
|
|
41,662 |
|
|
37,908 |
|
|
Bottomline Technologies |
Unaudited Condensed Consolidated Balance
Sheets |
(in thousands) |
|
December 31, |
|
June 30, |
|
2018 |
|
2018 |
ASSETS |
|
|
|
Current assets: |
|
|
|
Cash, cash equivalents and marketable securities |
$ |
96,116 |
|
|
$ |
131,872 |
|
Cash held for customers |
5,382 |
|
|
2,753 |
|
Accounts receivable |
62,902 |
|
|
74,305 |
|
Other current assets |
30,205 |
|
|
19,781 |
|
|
|
|
|
Total current assets |
194,605 |
|
|
228,711 |
|
|
|
|
|
Property and equipment,
net |
28,876 |
|
|
28,895 |
|
Goodwill and intangible
assets, net |
360,922 |
|
|
361,809 |
|
Other assets |
33,301 |
|
|
16,553 |
|
|
|
|
|
Total assets |
$ |
617,704 |
|
|
$ |
635,968 |
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY |
|
|
|
Current liabilities: |
|
|
|
Accounts payable |
$ |
10,166 |
|
|
$ |
10,251 |
|
Accrued expenses and other current liabilities |
29,038 |
|
|
34,994 |
|
Customer account liabilities |
5,382 |
|
|
2,753 |
|
Deferred revenue |
58,496 |
|
|
75,356 |
|
|
|
|
|
Total current liabilities |
103,082 |
|
|
123,354 |
|
|
|
|
|
Borrowings under credit
facility |
110,000 |
|
|
150,000 |
|
Deferred revenue,
non-current |
16,693 |
|
|
23,371 |
|
Deferred income taxes |
7,457 |
|
|
8,367 |
|
Other liabilities |
19,627 |
|
|
19,944 |
|
|
|
|
|
Total liabilities |
256,859 |
|
|
325,036 |
|
|
|
|
|
Stockholders' equity |
|
|
|
Common stock |
46 |
|
|
45 |
|
Additional paid-in-capital |
700,520 |
|
|
678,549 |
|
Accumulated other comprehensive loss |
(35,704 |
) |
|
(30,633 |
) |
Treasury stock |
(128,216 |
) |
|
(129,914 |
) |
Accumulated deficit |
(175,801 |
) |
|
(207,115 |
) |
|
|
|
|
Total stockholders'
equity |
360,845 |
|
|
310,932 |
|
|
|
|
|
Total liabilities and
stockholders' equity |
$ |
617,704 |
|
|
$ |
635,968 |
|
Bottomline Technologies ... (NASDAQ:EPAY)
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From Mar 2024 to Apr 2024
Bottomline Technologies ... (NASDAQ:EPAY)
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From Apr 2023 to Apr 2024