LOGM 2017 Annual Report

ITEM 6. SELECTED FINANCIAL DATA You should read the following selected financial data together with our consolidated financial statements and the related notes appearing at the end of this Annual Report on Form 10-K and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section of this Annual Report on Form 10-K. Our historical results for any prior period are not necessarily indicative of results to be expected in any future period. Years Ended December 31, 2013 2014 2015 2016 2017 (In thousands, except per share data) Consolidated Statement of Operations Data: Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $166,258 $221,956 $271,600 $336,068 $989,786 Cost of revenue (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,816 28,732 35,458 45,501 203,203 Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147,442 193,224 236,142 290,567 786,583 Operating expenses: Research and development (1) . . . . . . . . . . . . . . . . . . 29,023 33,516 42,597 57,193 156,731 Sales and marketing (1) . . . . . . . . . . . . . . . . . . . . . . . 88,794 119,508 138,946 162,811 346,961 General and administrative (1) . . . . . . . . . . . . . . . . . . 29,181 30,526 33,034 60,693 160,366 Legal settlements . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,688 — 3,600 — — Amortization of acquired intangibles . . . . . . . . . . . . 682 987 1,916 5,457 134,342 Total operating expenses . . . . . . . . . . . . . . . . . . . . . . . 149,368 184,537 220,093 286,154 798,400 Income (loss) from operations . . . . . . . . . . . . . . . . . . . (1,926) 8,687 16,049 4,413 (11,817) Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 549 604 654 698 1,389 Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2) (2) (574) (1,403) (1,408) Other income (expense), net . . . . . . . . . . . . . . . . . . . . . (89) 105 1,389 (500) (141) Income (loss) before income taxes . . . . . . . . . . . . . . . . (1,468) 9,394 17,518 3,208 (11,977) (Provision for) benefit from income taxes . . . . . . . . . . (6,214) (1,439) (2,960) (570) 111,500 Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (7,682) $ 7,955 $ 14,558 $ 2,638 $ 99,523 Net income (loss) per share: Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (0.32) $ 0.33 $ 0.59 $ 0.10 $ 1.97 Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (0.32) $ 0.31 $ 0.56 $ 0.10 $ 1.93 Weighted average shares outstanding: Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,351 24,385 24,826 25,305 50,433 Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,351 25,386 25,780 26,164 51,463 Cash dividends declared and paid per share . . . . . . . . $ — $ — $ — $ 1.00 $ 1.25 (1) Includes stock-based compensation expense and intangible amortization expense as indicated in the follow- ing table: 32