Market Leader, Inc.

CIK:0001298978|SEC Filings

Condensed Consolidated Statements of Operations (unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Revenues

$ 13,686

$ 11,074

$ 26,610

$ 21,260

Expenses:

Sales and marketing (1)

8,238

^[1]

6,999

^[1]

17,083

^[1]

14,027

^[1]

Technology and product development (1)

3,020

^[1]

2,762

^[1]

5,962

^[1]

5,101

^[1]

General and administrative (1)

3,593

^[1]

1,855

^[1]

5,896

^[1]

3,710

^[1]

Depreciation and amortization of property and equipment (2)

816

^[2]

768

^[2]

1,643

^[2]

1,412

^[2]

Amortization of acquired intangible assets

793

836

1,580

1,659

Total expenses

16,460

13,220

32,164

25,909

Loss from operations

(2,774)

(2,146)

(5,554)

(4,649)

Interest income and expense, net

Loss before income tax expense

(2,770)

(2,138)

(5,544)

(4,632)

Income tax expense

Net loss

$ (2,777)

$ (2,146)

$ (5,558)

$ (4,668)

Net loss per share—basic and diluted (in Dollars per share)

$ (0.10)

$ (0.08)

$ (0.21)

$ (0.18)

[1]	Stock-based compensation is included in the expense line items above in the following amounts:
[2]	Depreciation and amortization of property and equipment is allocated as follows:

Note 4 - Supplemental Disclosure of Cash Flow Information

6 Months Ended

Jun. 30, 2013

Cash Flow, Supplemental Disclosures [Text Block]

Cash Flow, Supplemental Disclosures [Text Block]

Note 4: Supplemental Disclosure of Cash Flow Information

	Six months ended June 30,
	2013		2012
Cash paid during the period for income taxes	$	8	$	12
Non-cash investing and financing activities:
Increase in payables for property and equipment	$	8	$	6
Equity issued in stock appreciation right exercises	$	276	$	—

Condensed Consolidated Balance Sheets (unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 14,239	$ 11,165
Short-term investments	6,998	11,034
Trade accounts receivable, net of allowance of $17 and $14, respectively	1,175	854
Prepaid expenses and other current assets	1,050	999
Total current assets	23,462	24,052
Property and equipment, net of accumulated depreciation of $17,191 and $15,941, respectively	5,782	5,486
Acquired intangible assets, net of accumulated amortization of $14,773 and $13,307, respectively	6,235	7,672
Goodwill	1,861	1,861
Total assets	37,340	39,071
Current liabilities:
Accounts payable	844	978
Accrued compensation and benefits	3,053	3,194
Accrued expenses and other current liabilities	1,773	1,195
Deferred rent, current portion	70	177
Deferred revenue	1,176	1,126
Total current liabilities	6,916	6,670
Stock appreciation right liability	2,750	1,044
Other noncurrent liabilities	74	56
Total liabilities	9,740	7,770
Shareholders’ equity:
Preferred stock, par value $0.001 per share, authorized 30,000,000 shares; none issued and outstanding at June 30, 2013 and December 31, 2012, respectively	0	0
Common stock, par value $0.001 per share, stated at amounts paid in; authorized 120,000,000 shares; issued and outstanding 27,329,352 and 26,634,447 shares at June 30, 2013 and December 31, 2012, respectively	79,897	78,040
Accumulated deficit	(52,297)	(46,739)
Total shareholders’ equity	27,600	31,301
Total liabilities and shareholders’ equity	$ 37,340	$ 39,071