Three Months Ended

Twelve Months Ended

December 31,

December 31,

2015

2014

2015

2014

(dollars in thousands)

Revenue

$ 23,732

$ 17,862

$  86,729

$  62,968

Operating expenses

31,888

21,631

103,030

87,390

  Operating loss

$ (8,156)

$ (3,769)

$(16,301)

$(24,422)

  Operating margin

(34)%

(21)%

(19)%

(39)%

Adjustments, as a % of revenue:

Depreciation and amortization 

10%

11%

10%

12%

Share-based compensation 

27%

11%

17%

14%

Asset impairment charge

4%

-%

1%

-%

Severance expense

7%

-%

2%

2%

Acquisition�related and other expenses*

2%

1%

1%

1%

  Adjusted EBITDA Margin

16%

2%

12%

* In the three months ended December 31, 2015, acquisition-related and other expenses represented certain strategic, CEO transition and tax-related costs as well as a lease exit cost. In the twelve months ended December 31, 2015, acquisition-related and other expenses also included certain legal costs related to the previously disclosed CEO transition and securities litigation. In 2014, acquisition-related and other expenses represented acquisition, strategic transaction and certain tax-related costs.

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2015

2014

2015

2014

(in thousands, except per share amounts)

Net loss attributable to Textura Corporation common shareholders

$  (8,214)

$  (3,907)

$  (16,596)

$  (24,885)

Accretion of redeemable non-controlling interest

-

-

-

199

Net loss attributable to non-controlling interest

-

-

-

(169)

Net loss

$(8,214)

$(3,907)

$(16,596)

$(24,855)

Share-based compensation

6,326

1,971

14,108

8,375

Amortization of intangible assets

1,007

1,131

4,166

4,977

Asset impairment charge

1,070

-

1,070

-

Severance expense

1,771

-

1,771

1,488

Acquisition-related and other expenses (1)

503

320

909

764

Adjusted net income (loss)

$  2,463

$   (485)

$    5,428

$  (9,251)

Weighted-average number of common shares outstanding - basic and diluted

26,095

25,487

25,860

25,184

Dilutive equity awards (2)

1,542

-

1,708

-

Adjusted weighted-average number of common shares outstanding - diluted

27,637

25,487

27,568

25,184

Net loss per share

$  (0.31)

$  (0.15)

$    (0.64)

$    (0.99)

Adjusted Basic EPS (3)

$    0.09

$  (0.02)

$      0.21

$    (0.37)

Adjusted Diluted EPS (3)

$    0.09

$  (0.02)

$      0.20

$    (0.37)

1) In the three months ended December 31, 2015, acquisition-related and other expenses represented certain strategic, CEO transition and tax-related costs as well as a lease exit cost. In the twelve months ended December 31, 2015, acquisition-related and other expenses also included certain legal costs related to the previously disclosed CEO transition and securities litigation. In 2014, acquisition-related and other expenses represented acquisition, strategic transaction and certain tax-related costs.

2) In the three and twelve months ended December 31, 2015, dilutive equity awards totaled 1.5 million and 1.7 million shares, respectively. Dilutive equity awards represent potential common stock instruments such as stock options, unvested restricted stock units and warrants. Potential common stock instruments were excluded for the 2014 periods as their effect would have been anti-dilutive.

3) Adjusted Basic EPS is calculated using adjusted net income (loss) divided by the GAAP weighted-average number of common shares outstanding - basic and diluted. For the 2015 periods, Adjusted Diluted EPS was calculated using adjusted net income (loss) divided by the adjusted weighted-average number of common shares outstanding - diluted. For the 2014 periods, given the loss positions, Adjusted Diluted EPS equals Adjusted Basic EPS.