UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 6-K

 


 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2015

 

Commission File Number: 001-36397

 


 

Weibo Corporation

(Registrant’s Name)

 


 

7/F, Shuohuang Development Plaza
No. 6 Caihefang Road, Haidian District, Beijing, 100080
People’s Republic of China

(Address of Principal Executive Offices)

 


 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F x      Form 40-F o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

 

 

 



 

TABLE OF CONTENTS

 

Signatures

 

Press Release regarding Results of Operations and Financial Condition for the Second Quarter Ended June 30, 2015, Issued by Weibo Corporation on August 18, 2015

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

WEIBO CORPORATION

 

 

 

 

 

 

Date: August 20, 2015

By:

/s/ Herman Yu

 

 

Herman Yu

 

 

Chief Financial Officer

 

3


Exhibit 99.1

 

Weibo Reports Second Quarter 2015 Results

 

BEIJING, August 18, 2015—Weibo Corporation (“Weibo” or the “Company”) (NASDAQ: WB), a leading social media in China, today announced its unaudited financial results for the quarter ended June 30, 2015.

 

Second Quarter 2015 Highlights

 

·                   Net revenues increased 39% year over year to $107.8 million, exceeding the Company’s guidance between $102 million and $105 million.

·                  Advertising and marketing revenues increased 47% year over year to $87.9 million.

·                  Weibo Value Added Services (“Weibo VAS”) revenues increased 13% year over year to $20.0 million.

·                  Net income attributable to Weibo’s ordinary shareholders was $4.2 million, or $0.02 diluted net income per share, compared to a net loss of $15.5 million for the same period last year, or diluted net loss per share of $0.08.

·                  Non-GAAP net income attributable to Weibo’s ordinary shareholders was $10.9 million, or non-GAAP diluted net income per share of $0.05, compared to a non-GAAP net loss of $5.1 million for the same period last year, or non-GAAP diluted net loss per share of $0.03.

·                  Non-GAAP adjusted EBITDA was $15.4 million, compared to a non-GAAP adjusted EBITDA of negative $1.8 million for the same period last year.

·                      Monthly active users (“MAUs”) were 212 million for June 2015, up 36% year over year. Mobile MAUs represented 85% of total MAUs in June 2015. Daily active users (“DAUs”) were 93 million on average for June 2015, up 34% year over year.

 

“Weibo’s MAU growth continues to be robust, reaching 212 million in June, as we sought to improve user experience, increase penetration into lower tiered cities and expand our partnerships with the television and movie industries,” stated Gaofei Wang, Weibo’s CEO. “We are also seeing strong momentum in the adoption of Weibo social advertising, especially in the SME segment, where our revenues grew 163% year over year and the number of customers reached 443,000 in the second quarter of 2015.”

 

Second Quarter 2015 Financial Results

 

For the second quarter of 2015, Weibo reported net revenues of $107.8 million, compared to $77.3 million for the same period last year. Advertising and marketing revenues for the second quarter of 2015 totaled $87.9 million, compared to $59.6 million for the same period last year. Weibo VAS revenues for the second quarter of 2015 totaled $20.0 million, compared to $17.7 million for the same period last year.

 

Costs and expenses for the second quarter of 2015 totaled $105.5 million, compared to $88.0 million for the same period last year. Non-GAAP costs and expenses for the second quarter of 2015 was $98.1 million, up 16% from the same period last year. The increase in non-GAAP costs

 



 

and expenses was mainly due to the increase in game and other revenue share associated with higher revenues, infrastructure-related costs resulting from traffic growth and personnel-related costs.

 

Income from operations for the second quarter of 2015 was $2.3 million, compared to a loss from operations of $10.7 million for the same period last year. Non-GAAP income from operations for the second quarter of 2015 was $9.7 million, compared to a non-GAAP loss from operations of $7.0 million for the same period last year.

 

Non-operating income for the second quarter of 2015 was $2.2 million, compared to a non-operating loss of $5.1 million for the same period last year, which included a loss of $6.8 million from the change in fair value of investor option liability in connection with Alibaba’s investment in Weibo.

 

Net income attributable to Weibo’s ordinary shareholders for the second quarter of 2015 was $4.2 million, or net income per share of $0.02, compared to a net loss of $15.5 million for the same period last year, or net loss per share of $0.08. Non-GAAP net income attributable to Weibo’s ordinary shareholders for the second quarter of 2015 was $10.9 million, or net income per share of $0.05, compared to a non-GAAP net loss of $5.1 million for the same period last year, or net loss per share of $0.03.

 

As of June 30, 2015, Weibo’s cash, cash equivalents and short-term investments totaled $337.1 million. For the three months ending June 30, 2015, cash, cash equivalents and short-term investments decreased $117.9 million, primarily resulting from equity investments, including an investment of $142 million in Xiaoju Kuaizhi. Inc., the Cayman holding company of Didi Taxi and Kuaidi Taxi. For the second quarter of 2015, cash provided by operating activities was $51.4 million, capital expenditures totaled $3.7 million, and depreciation and amortization expenses amounted to $5.9 million.

 

Business Outlook

 

For the third quarter of 2015, Weibo estimates that its net revenues to be between $120 million and $123 million. This forecast reflects Weibo’s current and preliminary view, which is subject to change.

 

Non-GAAP Measures

 

This release contains the following non-GAAP financial measures:  non-GAAP costs and expenses, non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP diluted net income (loss) per share attributable to Weibo’s ordinary shareholders and non-GAAP adjusted EBITDA. These non-GAAP financial measures should be considered in addition to, not as a substitute for, measures of the Company’s financial performance prepared in accordance with U.S. GAAP.

 



 

The Company’s non-GAAP financial measures exclude stock-based compensation, amortization of intangible assets net of tax, change in fair value of investor option liability, and gain (loss) on the sale of investments and impairment on investments. In addition, non-GAAP adjusted EBITDA excludes depreciation expenses, interest income (expenses) and income tax expenses (benefits). The Company’s management uses these non-GAAP financial measures in their financial and operating decision-making, because management believes these measures reflect the Company’s ongoing operating performance in a manner that allows more meaningful period-to-period comparisons. The Company believes that these non-GAAP financial measures provide useful information to investors and others in the following ways: (i) in comparing the Company’s current financial results with the Company’s past financial results in a consistent manner, and (ii) in understanding and evaluating the Company’s current operating performance and future prospects in the same manner as management does, if they so choose. The Company also believes that the non-GAAP financial measures provide useful information to both management and investors by excluding certain expenses, gains (losses) and other items (i) that are not expected to result in future cash payments or (ii) that are non-recurring in nature or may not be indicative of the Company’s core operating results and business outlook.

 

Use of non-GAAP financial measures has limitations. The Company’s non-GAAP financial measures do not include all income and expense items that affect the Company’s operations.  They may not be comparable to non-GAAP financial measures used by other companies.  Accordingly, care should be exercised in understanding how the Company defines its non-GAAP financial measures. Reconciliations of the Company’s non-GAAP measures to the nearest comparable GAAP measures are set forth in the section below titled “Unaudited Reconciliation of GAAP and Non-GAAP Measures.”

 

The unaudited condensed consolidated statements of operations and balance sheets have been prepared assuming that the Weibo funds acquired from SINA on June 30, 2015 had been in existence throughout the periods. Impact of such funds to each period was not significant.

 

Conference Call

 

Weibo will host a conference call at 9 PM — 10 PM Eastern Time on August 18, 2015 (or 9 AM — 10 AM Beijing Time on August 19, 2015) to present an overview of the Company’s financial performance and business operations. A live webcast of the call will be available through the Company’s corporate website at http://ir.weibo.com. The conference call can be accessed as follows:

 

US Toll Free:  +1 (888) 346-8982

Hong Kong Toll Free:  +852 800-905-945

China Toll Free:  +86 400-120-1203

International:  +1 (412) 902-4272

Passcode for all regions:  Weibo

 



 

A replay of the conference call will be available through midnight Eastern Time, August 28, 2015. The dial-in number is +1 (412) 317-0088. The passcode for the replay is 10071127.

 

About Weibo Corporation

 

Weibo is a leading social media for people to create, share and discover Chinese-language content. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, as well as content aggregation and distribution. Any user can create and post a feed of up to 140 Chinese characters and attach multi-media or long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.

 

Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide variety of advertising and marketing solutions to its customers, ranging from large brand advertisers to Alibaba/e-commerce merchants to small and medium sized enterprises to individuals. The Company generates a substantial majority of revenues from the sale of advertising and marketing services, including the sale of social display ads, promoted feeds and event-based ad solutions. Weibo has developed and is continuously refining its social interest graph recommendation engine, which enables its customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness on Weibo.

 

Safe Harbor Statement

 

This press release contains forward-looking statements that relate to, among other things, Weibo’s expected financial performance and strategic and operational plans (as described, without limitation, in the “Business Outlook” section and in quotations from management in this press release. Weibo may also make forward-looking statements in the Company’s periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology, such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “confidence,” “estimates” and similar statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, Weibo’s limited operating history in certain new businesses; failure to grow active user base and the level of user engagement; the uncertain regulatory landscape in China; fluctuations in the Company’s quarterly operating results; the Company’s reliance on advertising sales for a majority of its revenues; failure to successfully develop, introduce, drive adoption of or monetize new features and products; failure to compete effectively for advertising and marketing spending; failure to develop the small and medium enterprise market by the Company or through cooperation with other parties, including Alibaba;

 



 

failure to successfully integrate acquired businesses; risks associated with the Company’s investments, including equity pick-up and impairment; failure to compete successfully against new entrants and established industry competitors; and adverse changes in economic and political policies of the PRC government and its impact on the Chinese economy. Further information regarding these and other risks is included in Weibo’s annual report on Form 20-F for the fiscal year ended December 31, 2014 filed with the SEC on April 28, 2015 and other filings with the SEC. All information provided in this press release is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required under applicable law.

 

Contact:

Investor Relations

Weibo Corporation

Phone: +86 10 5898-3112

Email: ir@staff.weibo.com

 



 

WEIBO CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(U.S. Dollars in thousands, except per share data)

 

 

 

Three months ended

 

Six months ended

 

 

 

June 30,

 

March 31,

 

June 30,

 

 

 

2015

 

2014

 

2015

 

2015

 

2014

 

 

 

 

 

Restated (a)

 

Restated (a)

 

 

 

Restated (a)

 

Net revenues:

 

 

 

 

 

 

 

 

 

 

 

Advertising and marketing

 

$

87,867

 

$

59,583

 

$

79,160

 

$

167,027

 

$

111,436

 

Weibo VAS

 

19,975

 

17,737

 

17,130

 

37,105

 

33,394

 

Total net revenues

 

107,842

 

77,320

 

96,290

 

204,132

 

144,830

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and Expenses:

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues (b)

 

33,689

 

19,700

 

28,925

 

62,614

 

37,143

 

Sales and marketing (b)

 

28,514

 

30,015

 

31,186

 

59,700

 

53,873

 

Product development (b)

 

35,009

 

32,155

 

34,328

 

69,337

 

60,963

 

General and administrative (b)

 

8,292

 

6,118

 

6,372

 

14,664

 

11,758

 

Total costs and expenses

 

105,504

 

87,988

 

100,811

 

206,315

 

163,737

 

Income (loss) from operations

 

2,338

 

(10,668

)

(4,521

)

(2,183

)

(18,907

)

 

 

 

 

 

 

 

 

 

 

 

 

Non-operating (loss) income:

 

 

 

 

 

 

 

 

 

 

 

Change in fair value of investor option liability

 

 

(6,784

)

 

 

(46,972

)

Loss from equity method investments, net

 

 

 

(4

)

(4

)

 

Gain on sale of and impairment on investments, net

 

608

 

160

 

 

608

 

160

 

Interest and other income , net

 

1,621

 

1,514

 

1,460

 

3,081

 

1,814

 

 

 

2,229

 

(5,110

)

1,456

 

3,685

 

(44,998

)

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income tax expenses

 

4,567

 

(15,778

)

(3,065

)

1,502

 

(63,905

)

Income tax benefits (expenses)

 

(414

)

732

 

5

 

(409

)

1,308

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

4,153

 

(15,046

)

(3,060

)

1,093

 

(62,597

)

Less: Net income (loss) attributable to noncontrolling interest

 

(43

)

469

 

(10

)

(53

)

425

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Weibo’ ordinary shareholders

 

$

4,196

 

$

(15,515

)

$

(3,050

)

$

1,146

 

$

(63,022

)

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income (loss) per share attributable to Weibo’s ordinary shareholders

 

$

0.02

 

$

(0.08

)

$

(0.01

)

$

0.01

 

$

(0.37

)

Diluted net income (loss) per share attributable to Weibo’s ordinary shareholders

 

$

0.02

 

$

(0.08

)

$

(0.01

)

$

0.01

 

$

(0.37

)

 

 

 

 

 

 

 

 

 

 

 

 

Shares used in computing basic net income (loss) per share attributable to Weibo’s ordinary shareholders

 

207,512

 

192,190

 

204,985

 

206,267

 

171,508

 

Shares used in computing diluted net income (loss) per share attributable to Weibo’s ordinary shareholders

 

218,125

 

192,190

 

204,985

 

217,351

 

171,508

 

 


(a) The unaudited condensed consolidated statements of operations have been prepared assuming that the Weibo funds acquired from SINA on June 30, 2015 had been in existence throughout the periods.

 

(b) Stock-based compensation in each category:

 

Cost of revenues

 

$

289

 

$

187

 

$

252

 

$

541

 

$

356

 

Sales and marketing

 

735

 

433

 

694

 

1,429

 

690

 

Product development

 

2,401

 

989

 

2,308

 

4,709

 

1,581

 

General and administrative

 

3,568

 

1,831

 

2,293

 

5,861

 

3,002

 

 

1



 

WEIBO CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. Dollars in thousands)

 

 

 

June 30,

 

December 31,

 

 

 

2015

 

2014

 

 

 

 

 

Restated (a)

 

Assets

 

 

 

Current assets:

 

 

 

 

 

Cash and cash equivalents

 

$

218,633

 

$

284,865

 

Short-term investments

 

118,471

 

166,414

 

Accounts receivable, net

 

127,548

 

120,210

 

Prepaid expenses and other current assets

 

37,326

 

18,375

 

Current assets subtotal

 

501,978

 

589,864

 

 

 

 

 

 

 

Property and equipment, net

 

26,201

 

30,874

 

Goodwill and intangible assets, net

 

14,430

 

15,191

 

Investments

 

227,200

 

63,777

 

Other assets

 

6,846

 

3,808

 

Total assets

 

$

776,655

 

$

703,514

 

 

 

 

 

 

 

Liabilities and Shareholders’ Equity

 

 

 

Liabilities:

 

 

 

 

 

Current liabilities:

 

 

 

 

 

Accounts payable

 

$

308

 

$

2,420

 

Accrued liabilities

 

144,513

 

87,595

 

Deferred revenues

 

23,915

 

20,957

 

Amount due to SINA

 

11,277

 

24,279

 

Current liabilities subtotal

 

180,013

 

135,251

 

 

 

 

 

 

 

Long-term liabilities

 

686

 

873

 

Total liabilities

 

180,699

 

136,124

 

 

 

 

 

 

 

Shareholders’ equity :

 

 

 

 

 

Weibo ordinary shareholders’ equity

 

587,761

 

559,204

 

Non-controlling interest

 

8,195

 

8,186

 

Total shareholders’ equity

 

595,956

 

567,390

 

 

 

 

 

 

 

Total liabilitiesand shareholders’ equity

 

$

776,655

 

$

703,514

 

 


(a) The unaudited condensed combined and consolidated statements of balance sheet have been prepared assuming that the Weibo funds acquired from SINA on June 30, 2015 had been in existence throughout the periods.

 

2



 

WEIBO CORPORATION

UNAUDITED RECONCILIATION OF GAAP and NON-GAAP MEASURES

(U.S. Dollars in thousands, except per share data)

 

 

 

Three months ended

 

 

 

June 30, 2015

 

June 30, 2014

 

March 31, 2015

 

 

 

 

 

 

 

Non-GAAP

 

 

 

 

 

Non-GAAP

 

 

 

 

 

Non-GAAP

 

 

 

Actual

 

Adjustments

 

Results

 

Actual

 

Adjustments

 

Results

 

Actual

 

Adjustments

 

Results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advertising and marketing

 

$

87,867

 

 

 

$

87,867

 

$

59,583

 

 

 

$

59,583

 

$

79,160

 

 

 

$

79,160

 

Weibo VAS

 

19,975

 

 

 

19,975

 

17,737

 

 

 

17,737

 

17,130

 

 

 

17,130

 

Net revenues

 

$

107,842

 

 

 

$

107,842

 

$

77,320

 

 

 

$

77,320

 

$

96,290

 

 

 

$

96,290

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6,993

)(a)

 

 

 

 

(3,440

)(a)

 

 

 

 

(5,547

)(a)

 

 

 

 

 

 

(373

)(b)

 

 

 

 

(273

)(b)

 

 

 

 

(371

)(b)

 

 

Total costs and expenses

 

$

105,504

 

$

(7,366

)

$

98,138

 

$

87,988

 

$

(3,713

)

$

84,275

 

$

100,811

 

$

(5,918

)

$

94,893

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6,993

(a)

 

 

 

 

3,440

(a)

 

 

 

 

5,547

(a)

 

 

 

 

 

 

373

(b)

 

 

 

 

273

(b)

 

 

 

 

371

(b)

 

 

Income (loss) from operations

 

$

2,338

 

$

7,366

 

$

9,704

 

$

(10,668

)

$

3,713

 

$

(6,955

)

$

(4,521

)

$

5,918

 

$

1,397

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,440

(a)

 

 

 

 

 

 

 

 

 

 

 

 

6,993

(a)

 

 

 

 

214

(b)

 

 

 

 

 

 

 

 

 

 

 

 

268

(b)

 

 

 

 

6,784

(c)

 

 

 

 

5,547

(a)

 

 

 

 

 

 

(516

)(d)

 

 

 

 

8

(d)

 

 

 

 

269

(b)

 

 

Net income (loss) attributable to Weibo’s ordinary shareholders

 

$

4,196

 

$

6,745

 

$

10,941

 

$

(15,515

)

$

10,446

 

$

(5,069

)

$

(3,050

)

$

5,816

 

$

2,766

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income (loss) per share attributable to Weibo’s ordinary shareholders

 

$

0.02

 

 

 

$

0.05

 

$

(0.08

)

 

 

$

(0.03

)

$

(0.01

)

 

 

$

0.01

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares used in computing diluted net income (loss) per share attributable to Weibo’s ordinary shareholders

 

218,125

 

 

218,125

 

192,190

 

 

192,190

 

204,985

 

11,488

(e)

216,473

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP adjusted EBITDA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP net income (loss)

 

 

 

 

 

$

10,941

 

 

 

 

 

$

(5,069

)

 

 

 

 

$

2,766

 

Depreciation expenses

 

 

 

 

 

5,521

 

 

 

 

 

5,329

 

 

 

 

 

5,259

 

Interest income, net

 

 

 

 

 

(1,562

)

 

 

 

 

(1,395

)

 

 

 

 

(1,381

)

Income tax expenses (benefits)

 

 

 

 

 

507

 

 

 

 

 

(673

)

 

 

 

 

88

 

Non-GAAP adjusted EBITDA

 

 

 

 

 

$

15,407

 

 

 

 

 

$

(1,808

)

 

 

 

 

$

6,732

 

 

3



 

WEIBO CORPORATION

UNAUDITED RECONCILIATION OF GAAP and NON-GAAP MEASURES

(U.S. Dollars in thousands, except per share data)

 

 

 

Six months ended

 

 

 

June 30, 2015

 

June 30, 2014

 

 

 

 

 

 

 

Non-GAAP

 

 

 

 

 

Non-GAAP

 

 

 

Actual

 

Adjustments

 

Results

 

Actual

 

Adjustments

 

Results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advertising and marketing

 

$

167,027

 

 

 

$

167,027

 

$

111,436

 

 

 

$

111,436

 

Weibo VAS

 

37,105

 

 

 

37,105

 

33,394

 

 

 

33,394

 

Net revenues

 

$

204,132

 

 

 

$

204,132

 

$

144,830

 

 

 

$

144,830

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(12,540

)(a)

 

 

 

 

(5,629

)(a)

 

 

 

 

 

 

(744

)(b)

 

 

 

 

(553

)(b)

 

 

Total costs and expenses

 

$

206,315

 

$

(13,284

)

$

193,031

 

$

163,737

 

$

(6,182

)

$

157,555

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12,540

(a)

 

 

 

 

5,629

(a)

 

 

 

 

 

 

744

(b)

 

 

 

 

553

(b)

 

 

Income (loss) from operations

 

$

(2,183

)

$

13,284

 

$

11,101

 

$

(18,907

)

$

6,182

 

$

(12,725

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,629

(a)

 

 

 

 

 

 

12,540

(a)

 

 

 

 

405

(b)

 

 

 

 

 

 

537

(b)

 

 

 

 

46,972

(c)

 

 

 

 

 

 

(516

)(d)

 

 

 

 

8

(d)

 

 

Net income (loss) attributable to Weibo’s ordinary shareholders

 

$

1,146

 

$

12,561

 

$

13,707

 

$

(63,022

)

$

53,014

 

$

(10,008

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income (loss) per share attributable to Weibo’s ordinary shareholders

 

$

0.01

 

 

 

$

0.06

 

$

(0.37

)

 

 

$

(0.06

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares used in computing diluted net income (loss) per share attributable to Weibo’s ordinary shareholders

 

217,351

 

 

217,351

 

171,508

 

 

171,508

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP adjusted EBITDA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP net income (loss)

 

 

 

 

 

$

13,707

 

 

 

 

 

$

(10,008

)

Depreciation expenses

 

 

 

 

 

10,780

 

 

 

 

 

10,463

 

Interest income, net

 

 

 

 

 

(2,943

)

 

 

 

 

(1,745

)

Income tax expenses (benefits)

 

 

 

 

 

595

 

 

 

 

 

(1,160

)

Non-GAAP adjusted EBITDA

 

 

 

 

 

$

22,139

 

 

 

 

 

$

(2,450

)

 


(a)

To adjust stock-based compensation.

(b)

To adjust amortization of intangible assets and tax provision on amortization of acquired intangible assets.

(c)

To adjust the change in fair value of investor option liability.

(d)

To adjust gain (loss) on sale of investments, and impairment on investments, net.

(e)

To adjust the number of shares used in computing diluted net income per share from diluted net loss per share.

 

4



 

WEIBO CORPORATION

UNAUDITED ADDITIONAL INFORMATION

(U.S. Dollars in thousands)

 

 

 

Three months ended

 

Six months ended

 

 

 

June 30,

 

March 31,

 

June 30,

 

 

 

2015

 

2014

 

2015

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenues

 

 

 

 

 

 

 

 

 

 

 

Advertising and marketing:

 

 

 

 

 

 

 

 

 

 

 

Advertising and marketing other than Alibaba

 

$

59,444

 

$

37,401

 

$

44,667

 

$

104,111

 

$

69,393

 

Alibaba

 

28,423

 

22,182

 

34,493

 

62,916

 

42,043

 

Subtotal

 

87,867

 

59,583

 

79,160

 

167,027

 

111,436

 

 

 

 

 

 

 

 

 

 

 

 

 

Weibo VAS

 

19,975

 

17,737

 

17,130

 

37,105

 

33,394

 

 

 

$

107,842

 

$

77,320

 

$

96,290

 

$

204,132

 

$

144,830

 

 

5