Linked In Q1 2012

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Transcript of Linked In Q1 2012

  • 1. Q112 Results

2. Safe HarborSafe Harbor statement under the Private Securities Litigation Reform Act of 1995: This presentation and the accompanyingconference call contain forward-looking statements about our products, including our planned investments in key strategic areas,certain non-financial metrics, such as member growth and engagement, and our expected financial metrics such as revenue, adjustedEBITDA, depreciation and amortization and stock-based compensation for the second quarter of 2012 and the full fiscal year 2012.The achievement of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions. If any ofthese risks or uncertainties materialize or if any of the assumptions prove incorrect, the companys results could differ materially fromthe results expressed or implied by the forward-looking statements the company makes.The risks and uncertainties referred to above include - but are not limited to - risks associated with: the companys limited operatinghistory in a new and unproven market; engagement of our members; the price volatility of our Class A common stock; generaleconomic conditions; expectations regarding the return on our strategic investments; execution of our plans and strategies, includingwith respect to acquisitions of other companies; expectations regarding the companys ability to timely and effectively scale and adaptexisting technology and network infrastructure to ensure that its website is accessible at all times with short or no perceptible loadtimes; security measures and the risk that the companys website may be subject to attacks that degrade or deny the ability ofmembers to access the companys solutions; our ability to maintain our rate of revenue growth; our ability to accurately track our keymetrics internally; members and customers curtailing or ceasing to use the companys solutions; the companys core value of puttingmembers first, which may conflict with the short-term interests of the business; privacy issues; increasing competition; our ability tomanage our growth and retain our employees; and the dual class structure of the companys common stock.Further information on these and other factors that could affect the companys financial results is included in filings it makes with theSecurities and Exchange Commission from time to time, including the section entitled Risk Factors in the companys Annual Reporton Form 10-K that was filed for the year ended December 31, 2011, and additional information will also be set forth in our Form 10-Qthat will be filed for the quarter ended March 31, 2012, which should read in conjunction with these financial results. These documentsare available on the SEC Filings section of the Investor Information section of the companys website at http://investors.linkedin.com/.All information provided in this presentation is as of May 3, 2012, and LinkedIn undertakes no duty to update this information.2 3. Jeff Weiner 1stChief Executive Officer at LinkedInSan Francisco Bay Area | Internet Send MessageView ProfileSteve Sordello1stChief Financial Officer at LinkedInSan Francisco Bay Area | InternetSend Message View Profile3 4. Key Metrics(Millions)(Millions) (Billions) 103 109.4161160 10014592 88140 131 87.6 7.6 82 7.1 7.1 8075120 11610265 65.51005.090 6081 533.9 80 724 3.66446 45 60 402 40 2020 0Q110Q210Q310Q410Q111Q211Q311Q411Q112Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112Members (MM)Unique Visitors, comScore (MM) Page Views, comScore (BN)4 5. (Millions) Revenue$200 $188 130%$180$168120%$160110% $139$140$121100%$12090%$94$100$82 80%$80$62$55 70%$60$45 $39 $3060%$40$28 $23$20 50% $0 40% Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112 Net Revenue ($MM) % y/y5 6. (Millions)Revenue by Product $200 $188 $180$16820% $160 $13920% $140$121 20%26% $120$94 20%30% $100 $82 29%$80 21% $6232% 22%$55$60 $45 30%$3925% 34%54%27%$40 $28 $3050%$23 30%31% 51%32% 33% 48%$20 39% 38% 32% 49% 47%37%44%32% 30% 40%44% 26%31% 38% 27%29% 32%$0 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112 Hiring SolutionsMarketing Solutions Premium Subscriptions6 7. (Millions)Revenue by Geography $200$188 $180 $168 6% 7% $160 6% $139 6% $14023%$121 6% 6% 21% $120 5%5% 21%$94 $100 $8222%5%5% $80 5% $6221% $55 20% $60$4564%67%$3918% 20% 67% $40$28 $30 68%$23 20%22%71%69%21% 19%74% $20 20%73%73%75% 72% 75%73%$0 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112 US EMEA APACOther Americas7 8. (Millions)Revenue by Channel $200$188 $180 $168 $160 $139 46% $140 $121 $120 43% $94 47% $100 $82 45% $80 $62 46%$5541% $60$45$3946%57%54% $40$28 $3045%$23 47%55% 53%43%46% 50%59% 54% $20 50% 54%57% 53%55% 50%54% 50% $0 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112Field Sales Online Sales8 9. Adjusted EBITDA & Margin (Millions)$40 $38 25%$34$3520%$30$26$25$25 15%$20$16$15 $13 10% $11 $11 $9$10 $5 5% $4$4$5$1$00%Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112Adjusted EBITDAMargin% 9 10. Net Income & Cash Flow HighlightsQ1 2012Q4 2011Q1 2011 Net Income $mn, GAAP$5.0 $6.9 $2.1 Net Income $mn, Non-GAAP $16.9$13.3 $5.8 EPS, GAAP Fully-Diluted Weighted Shares* Excludes both net income attributable to preferred shareholders &$0.04$0.06 $0.00 preferred shares in share countEPS, Non-GAAP Fully-Diluted Weighted Shares$0.15$0.12 $0.06Operating Cash Flow (OCF) $63.2$24.2 $26.6 Free Cash Flow, $mn (OCF Purchases of PPE) $41.1 $3.5 $10.4 Cash, Cash Equivalents, & ST Investments, $mn$620.8$577.5$106.1For additional reconciliation of our non-GAAP measures, please see the Selected Company Metrics and Financials page on LinkedIns InvestorRelations site. 10 11. Guidance Q2 2012FY 2012 Revenue, $mn$210-215 $880-900 Adjusted EBITDA, $mn $40-42$170-175Depreciation & Amortization, $mn $18.5-19.5$75-85Stock-Based Compensation, $mn $18-19 $80-90 11 12. Non-GAAP Reconciliations 12 13. Thank You