a. Download Financial Data Score In Thousands, unless otherwise specified Dec 31

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a. Download Financial Data Score In Thousands, unless otherwise specified Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Assets, Current Cash and cash equivalents $174,083 $225,300 $166,176 Restricted cash $12,017 $11,950 $10,000 Settlements receivable $156,188 $115,481 $64,968 Merchant cash advance receivable, net $43,638 $29,302 $0 Other current assets $32,561 $27,834 $12,658 Total current assets $418,487 $409,867 $253,802 Property and equipment, net $85,012 $63,733 $51,656 Goodwill $56,899 $40,267 $602 Acquired intangible assets, net $20,726 $10,279 $612 Restricted cash $14,579 $14,394 $9,270 Other assets $2,243 $3,348 $2,399 Total assets $597,946 $541,888 $318,341 Current liabilities: Accounts payable $7,528 $5,436 $4,541 Customers payable $238,085 $148,648 $95,794 Accrued transaction losses $16,004 $8,452 $7,488 Accrued expenses $35,669 $17,368 $9,272 Other current liabilities $13,954 $11,202 $12,646 Total current liabilities $311,240 $191,106 $129,741 Debt $0 $30,000 $0 Other liabilities $50,244 $47,110 $26,306 Total liabilities $361,484 $268,216 $156,047 Commitments and contingencies (Note 16) Stockholders’ equity: Convertible preferred stock $514,945 $514,945 $366,197 Common stock $0 $0 $0 Additional paid-in capital $249,954 $155,166 $38,329 Accumulated other comprehensive loss ($1,277) ($807) ($693) Accumulated deficit ($527,160) ($395,632) ($241,539) Total stockholders' equity $236,462 $273,672 $162,294 Total liabilities and stockholders' equity $597,946 $541,888 $318,341 Income Statement Year ended December 31 In Thousands, except Per Share data 2015 2014 2013 Revenues Transaction revenue $751,929 $707,799 $433,737 Starbucks transaction revenue $95,199 $123,024 $114,456 Software and data product revenue $35,628 $12,046 $0 Hardware revenue $10,002 $7,323 $4,240 Total net revenue $892,758 $850,192 $552,433 Cost of revenue: Transaction costs $479,937 $450,858 $277,833 Starbucks transaction costs $118,542 $150,955 $139,803 Software and data product costs $13,820 $2,973 $0 Hardware costs $16,636 $18,330 $6,012 Amortization of acquired technology $2,886 $1,002 $0 Total cost of revenue $631,821 $624,118 $423,648 Gross profit $260,937 $226,074 $128,785 Operating expenses: Product development $140,452 $144,637 $82,864 Sales and marketing $107,170 $112,577 $64,162 General and administrative $97,743 $94,220 $68,942 Transaction and advance losses $40,840 $24,081 $15,329 Amortization of acquired customer assets $1,373 $1,050 $0 Impairment of intangible assets $0 $0 $2,430 Total operating expenses $387,578 $376,565 $233,727 Operating loss ($126,641) ($150,491) ($104,942) Interest (income) and expense $995 $1,058 ($12) Other (income) and expense $1,390 $1,104 ($950) Loss before income tax ($129,026) ($152,653) ($103,980) Provision (benefit) for income taxes $2,502 $1,440 $513 Net loss ($131,528) ($154,093) ($104,493) Basic and diluted net loss per share (in dollars per share) Weighted-average shares used to compute net loss per share: Pro forma net loss per share attributable to common stockholders (unaudited): b. Calculate historical ratios, which you will need to create proforma statements Score Score c. Using historical data from a) and ratios from b) create pro-forma statements Assets, Current 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 Cash and cash equivalents Investments, current portion Accounts receivable, net Prepaid expenses and other current assets Total current assets Investments, non-current Property and equipment, net Intangible assets, net Goodwill Other assets Total assets Current liabilities: Accounts payable Accrued payroll and compensation Accrued expenses and other liabilities Deferred revenue, current portion Total current liabilities Deferred revenue, non-current Other liabilities, non-current Total non-current liabilities Total liabilities Commitments and contingencies (Note 3) Stockholder's equity Preferred stock Common stock2014 Accumulated other comprehensive income (loss) Additional paid-in capital Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity Income Statement Year ended December 31 In Thousands, except Per Share data 2015 2016 2017 2018 2019 Revenues License Maintenance and services Total revenues Cost of revenues License Maintenance and services Total cost of revenues Gross profit Operating expenses Research and development Sales and marketing General and administrative Total operating expenses Operating loss Interest and other income (expense), net Interest income, net Other income (expense), net Change in fair value of preferred stock warrants Total interest and other income (expense), net Loss before income taxes Provision for income taxes Net loss d. Using Pro-Forma Statements, estimate FCF Score Year 2016 2017 2018 2019 EBIT EBIT(1-T) = NOPAT Plus: Depreciation Expense Less: CAPEX Less: Working Capital Investment Firm Free Cash Flow Your Score e) What risks is the company facing? Discuss, how its tornado diagram would look like. Bonus: The Tornado diagram itself Your Score a. Download Financial Data Score In Thousands, unless otherwise specified Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Assets, Current Cash and cash equivalents $174,083 $225,300 $166,176 Restricted cash $12,017 $11,950 $10,000 Settlements receivable $156,188 $115,481 $64,968 Merchant cash advance receivable, net $43,638 $29,302 $0 Other current assets $32,561 $27,834 $12,658 Total current assets $418,487 $409,867 $253,802 Property and equipment, net $85,012 $63,733 $51,656 Goodwill $56,899 $40,267 $602 Acquired intangible assets, net $20,726 $10,279 $612 Restricted cash $14,579 $14,394 $9,270 Other assets $2,243 $3,348 $2,399 Total assets $597,946 $541,888 $318,341 Current liabilities: Accounts payable $7,528 $5,436 $4,541 Customers payable $238,085 $148,648 $95,794 Accrued transaction losses $16,004 $8,452 $7,488 Accrued expenses $35,669 $17,368 $9,272 Other current liabilities $13,954 $11,202 $12,646 Total current liabilities $311,240 $191,106 $129,741 Debt $0 $30,000 $0 Other liabilities $50,244 $47,110 $26,306 Total liabilities $361,484 $268,216 $156,047 Commitments and contingencies (Note 16) Stockholders’ equity: Convertible preferred stock $514,945 $514,945 $366,197 Common stock $0 $0 $0 Additional paid-in capital $249,954 $155,166 $38,329 Accumulated other comprehensive loss ($1,277) ($807) ($693) Accumulated deficit ($527,160) ($395,632) ($241,539) Total stockholders' equity $236,462 $273,672 $162,294 Total liabilities and stockholders' equity $597,946 $541,888 $318,341 Income Statement Year ended December 31 In Thousands, except Per Share data 2015 2014 2013 Revenues Transaction revenue $751,929 $707,799 $433,737 Starbucks transaction revenue $95,199 $123,024 $114,456 Software and data product revenue $35,628 $12,046 $0 Hardware revenue $10,002 $7,323 $4,240 Total net revenue $892,758 $850,192 $552,433 Cost of revenue: Transaction costs $479,937 $450,858 $277,833 Starbucks transaction costs $118,542 $150,955 $139,803 Software and data product costs $13,820 $2,973 $0 Hardware costs $16,636 $18,330 $6,012 Amortization of acquired technology $2,886 $1,002 $0 Total cost of revenue $631,821 $624,118 $423,648 Gross profit $260,937 $226,074 $128,785 Operating expenses: Product development $140,452 $144,637 $82,864 Sales and marketing $107,170 $112,577 $64,162 General and administrative $97,743 $94,220 $68,942 Transaction and advance losses $40,840 $24,081 $15,329 Amortization of acquired customer assets $1,373 $1,050 $0 Impairment of intangible assets $0 $0 $2,430 Total operating expenses $387,578 $376,565 $233,727 Operating loss ($126,641) ($150,491) ($104,942) Interest (income) and expense $995 $1,058 ($12) Other (income) and expense $1,390 $1,104 ($950) Loss before income tax ($129,026) ($152,653) ($103,980) Provision (benefit) for income taxes $2,502 $1,440 $513 Net loss ($131,528) ($154,093) ($104,493) Basic and diluted net loss per share (in dollars per share) Weighted-average shares used to compute net loss per share: Pro forma net loss per share attributable to common stockholders (unaudited): b. Calculate historical ratios, which you will need to create proforma statements Score Score c. Using historical data from a) and ratios from b) create pro-forma statements Assets, Current 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 Cash and cash equivalents Investments, current portion Accounts receivable, net Prepaid expenses and other current assets Total current assets Investments, non-current Property and equipment, net Intangible assets, net Goodwill Other assets Total assets Current liabilities: Accounts payable Accrued payroll and compensation Accrued expenses and other liabilities Deferred revenue, current portion Total current liabilities Deferred revenue, non-current Other liabilities, non-current Total non-current liabilities Total liabilities Commitments and contingencies (Note 3) Stockholder's equity Preferred stock Common stock2014 Accumulated other comprehensive income (loss) Additional paid-in capital Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity Income Statement Year ended December 31 In Thousands, except Per Share data 2015 2016 2017 2018 2019 Revenues License Maintenance and services Total revenues Cost of revenues License Maintenance and services Total cost of revenues Gross profit Operating expenses Research and development Sales and marketing General and administrative Total operating expenses Operating loss Interest and other income (expense), net Interest income, net Other income (expense), net Change in fair value of preferred stock warrants Total interest and other income (expense), net Loss before income taxes Provision for income taxes Net loss d. Using Pro-Forma Statements, estimate FCF Score Year 2016 2017 2018 2019 EBIT EBIT(1-T) = NOPAT Plus: Depreciation Expense Less: CAPEX Less: Working Capital Investment Firm Free Cash Flow Your Score e) What risks is the company facing? Discuss, how its tornado diagram would look like. Bonus: The Tornado diagram itself Your Score

Explanation / Answer

Please the answer for part 1&2 &5 the proforma nvoice has not been prepared as i require additional details such as growth  projection rate , rate of increase or decrease of the variables

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