COMSCORE INC
For the period ended Dec 31, 2023. Filed Mar 12, 2024.
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FY2023 · Filed Mar 12, 2024
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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| Years Ended December 31, | |||
|---|---|---|---|
| (In thousands, except share and per share data) | 2023 | 2022 | 2021 |
| Revenues (1) | $371,343 | $376,423 | $367,013 |
| Cost of revenues (1) (2) (3) | 205,580 | 205,294 | 203,044 |
| Selling and marketing (2) (3) | 63,322 | 68,453 | 66,937 |
| Research and development (2) (3) | 33,701 | 36,987 | 39,123 |
| General and administrative (2) (3) | 51,192 | 61,200 | 61,736 |
| Amortization of intangible assets | 5,213 | 27,096 | 25,038 |
| Impairment of goodwill | 78,200 | 46,300 | — |
| Restructuring | 6,234 | 5,810 | — |
| Impairment of right-of-use and long-lived assets | 1,502 | 156 | — |
| Total expenses from operations | 444,944 | 451,296 | 395,878 |
| Loss from operations | (73,601) | (74,873) | (28,865) |
| Interest expense, net (1) | (1,445) | (915) | (7,801) |
| Other income (expense), net | 42 | 9,785 | (5,778) |
| (Loss) gain from foreign currency transactions | (2,824) | 1,166 | 2,895 |
| Loss on extinguishment of debt (1) | — | — | (9,629) |
| Loss before income taxes | (77,828) | (64,837) | (49,178) |
| Income tax provision | (1,533) | (1,724) | (859) |
| Net loss | $(79,361) | $(66,561) | $(50,037) |
| Net loss available to common stockholders | |||
| Net loss | $(79,361) | $(66,561) | $(50,037) |
| Convertible redeemable preferred stock dividends (1) | (16,270) | (15,513) | (12,623) |
| Total net loss available to common stockholders | $(95,631) | $(82,074) | $(62,660) |
| Net loss per common share (4): | |||
| Basic and diluted | $(19.88) | $(17.71) | $(15.51) |
| Weighted-average number of shares used in per share calculation - Common Stock (4): | |||
| Basic and diluted | 4,811,233 | 4,634,178 | 4,040,102 |
| Comprehensive loss: | |||
| Net loss | $(79,361) | $(66,561) | $(50,037) |
| Other comprehensive loss: | |||
| Foreign currency cumulative translation adjustment | 1,830 | (3,842) | (5,068) |
| Total comprehensive loss | $(77,531) | $(70,403) | $(55,105) |
(1) Transactions with related parties are included in the line items above as follows (refer to Footnote 14, Related Party Transactions, for further information):
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenues | $11,420 | $14,934 | $16,285 |
| Cost of revenues | 29,265 | 26,971 | 34,534 |
| Interest expense, net | — | — | (4,692) |
| Loss on extinguishment of debt | — | — | (9,608) |
| Convertible redeemable preferred stock dividends | (16,270) | (15,513) | (12,623) |
(2) Excludes amortization of intangible assets, which is presented separately in the Consolidated Statements of Operations and Comprehensive Loss.
(3) Stock-based compensation expense is included in the line items above as follows:
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cost of revenues | $533 | $1,144 | $1,603 |
| Selling and marketing | 380 | 1,021 | 1,791 |
| Research and development | 411 | 827 | 1,079 |
| General and administrative | 3,211 | 5,186 | 9,375 |
| Total stock-based compensation expense | $4,535 | $8,178 | $13,848 |
(4)Adjusted retroactively for the Reverse Stock Split, refer to Footnote 2, Summary of Significant Accounting Policies.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.