| XPLORE TECHNOLOGIES CORP. | ||||||||
| Supplemental Three Months Consolidated Statements of Cash Flows—Unaudited | ||||||||
| (in thousands) | ||||||||
|
Three Months Ended
September 30, |
||||||||
| 2016 | 2015 | |||||||
| Net loss | $ | (536 | ) | $ | 98 | |||
| Items not affecting cash: | ||||||||
| Depreciation and amortization | 456 | 457 | ||||||
| Provision for doubtful accounts | (67 | ) | 108 | |||||
| Stock based compensation expense | 127 | 492 | ||||||
| Other adjustments to cash used in operations | (3,862 | ) | (4,383 | ) | ||||
| Net cash used in operating activities | (3,882 | ) | (3,228 | ) | ||||
| Net cash used in investing activities | (245 | ) | (176 | ) | ||||
| Net cash provided by(used in) financing activities | 3,164 | (3,726 | ) | |||||
| Change in cash and cash equivalents | $ | (963 | ) | $ | (7,130 | ) | ||
| Xplore Technologies Quarterly Historical Information | ||||||||||||||||||||
| FY 2017 | ||||||||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||||||
| Revenue | $ | 16,473 | $ | 20,007 | $ | - | $ | - | $ | 36,480 | ||||||||||
| Cost of revenue | 11,609 | 14,31 | - | - | 25,980 | |||||||||||||||
| Gross profit | 4,864 | 5,636 | - | - | 10,500 | |||||||||||||||
| Expenses | ||||||||||||||||||||
| Sales, marketing and support | 3,435 | 2,896 | - | - | 6,331 | |||||||||||||||
| Product research, development & engineering | 953 | 1,317 | - | - | 2,270 | |||||||||||||||
| General administrative | 2,039 | 1,868 | - | - | 3,907 | |||||||||||||||
| Total expenses | 6,427 | 6,081 | - | - | 12,508 | |||||||||||||||
| Profit/(loss) from operations | (1,563 | ) | (445 | ) | - | - | (2,008 | ) | ||||||||||||
| Other expenses | ||||||||||||||||||||
| Interest expense | (8 | ) | (69 | ) | - | - | (77 | ) | ||||||||||||
| Cost of integration | - | - | - | - | - | |||||||||||||||
| Other income/expenses | (96 | ) | (22 | ) | - | - | (118 | ) | ||||||||||||
| (104 | ) | (91 | ) | - | - | (195 | ) | |||||||||||||
| Income/(loss) before taxes | (1,667 | ) | (536 | ) | - | - | (2,203 | ) | ||||||||||||
| Income taxes | (80 | ) | - | - | - | (80 | ) | |||||||||||||
| Net income | $ | (1,747 | ) | $ | (536 | ) | $ | - | $ | - | $ | (2,283 | ) | |||||||
| Depreciation & amortization | 348 | 456 | - | - | 804 | |||||||||||||||
| Interest expense | 8 | 69 | - | - | 77 | |||||||||||||||
| Income taxes | 80 | - | - | - | 80 | |||||||||||||||
| EBITDA | (1,311 | ) | (11 | ) | - | - | (1,322 | ) | ||||||||||||
| - | ||||||||||||||||||||
| Non-cash compensation | 175 | 127 | - | - | 302 | |||||||||||||||
| Cost of integration | - | - | - | - | - | |||||||||||||||
| Adjusted EBITDA | $ | (1,136 | ) | $ | 116 | $ | - | $ | - | $ | (1,020 | ) | ||||||||
| FY 2016 | ||||||||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||||||
| Revenue | $ | 24,043 | $ | 28,853 | $ | 27,023 | $ | 20,611 | $ | 100,530 | ||||||||||
| Cost of revenue | 15,893 | 20,744 | 18,181 | 14,365 | 69,183 | |||||||||||||||
| Gross profit | 8,150 | 8,109 | 8,842 | 6,246 | 31,347 | |||||||||||||||
| Expenses | ||||||||||||||||||||
| Sales, marketing and support | 3,620 | 3,642 | 3,925 | 3,909 | 15,096 | |||||||||||||||
| Product research, development & engineering | 1,830 | 1,577 | 1,129 | 1,235 | 5,771 | |||||||||||||||
| General administrative | 2,331 | 2,487 | 2,521 | 2,088 | 9,427 | |||||||||||||||
| Total operating expenses | 7,781 | 7,706 | 7,575 | 7,232 | 30,294 | |||||||||||||||
| Profit/(loss) from operations | 369 | 403 | 1,267 | (986 | ) | 1,053 | ||||||||||||||
| Other expenses | ||||||||||||||||||||
| Interest expense | (6 | ) | (52 | ) | - | - | (58 | ) | ||||||||||||
| Cost of integration | (670 | ) | (122 | ) | (95 | ) | (26 | ) | (913 | ) | ||||||||||
| Other income/expenses | 63 | (131 | ) | (317 | ) | (65 | ) | (450 | ) | |||||||||||
| (613 | ) | (305 | ) | (412 | ) | (91 | ) | (1,421 | ) | |||||||||||
| Income/(loss) before taxes | (244 | ) | 98 | 855 | (1,077 | ) | (368 | ) | ||||||||||||
| Income taxes | - | - | (69 | ) | 75 | 6 | ||||||||||||||
| Net income | $ | (244 | ) | $ | 98 | $ | 786 | $ | (1,002 | ) | $ | (362 | ) | |||||||
| Depreciation & amortization | 358 | 457 | 498 | 417 | 1,730 | |||||||||||||||
| Interest expense | 6 | 52 | - | - | 58 | |||||||||||||||
| Income taxes | - | - | 69 | (75 | ) | (6 | ) | |||||||||||||
| EBITDA | 120 | 607 | 1,353 | (660 | ) | 1,420 | ||||||||||||||
| Non-cash compensation | 607 | 492 | 535 | 522 | 2,156 | |||||||||||||||
| Cost of integration | 670 | 122 | 95 | 26 | 913 | |||||||||||||||
| Adjusted EBITDA | $ | 1,397 | $ | 1,221 | $ | 1,983 | $ | (112 | ) | $ | 4,489 | |||||||||
| FY 2015 | ||||||||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||||||
| Revenue | $ | 8,267 | $ | 7,522 | $ | 16,443 | $ | 10,407 | $ | 42,639 | ||||||||||
| Cost of revenue | 5,203 | 5,255 | 10,569 | 7,293 | 28,320 | |||||||||||||||
| Gross profit | 3,064 | 2,267 | 5,874 | 3,114 | 14,319 | |||||||||||||||
| Expenses | ||||||||||||||||||||
| Sales, marketing and support | 1,598 | 1,714 | 1,630 | 1,410 | 6,352 | |||||||||||||||
| Product research, development & engineering | 991 | 739 | 815 | 992 | 3,537 | |||||||||||||||
| General administrative | 1,007 | 977 | 980 | 1,139 | 4,103 | |||||||||||||||
| Total operating expenses | 3,596 | 3,430 | 3,425 | 3,541 | 13,992 | |||||||||||||||
| Profit/(loss) from operations | (532 | ) | (1,163 | ) | 2,449 | (427 | ) | 327 | ||||||||||||
| Other expenses | ||||||||||||||||||||
| Interest expense | (1 | ) | (2 | ) | - | (3 | ) | |||||||||||||
| Cost of integration | - | - | - | - | - | |||||||||||||||
| Other income/expenses | (19 | ) | (3 | ) | (7 | ) | (7 | ) | (36 | ) | ||||||||||
| (19 | ) | (4 | ) | (9 | ) | (7 | ) | (39 | ) | |||||||||||
| Income/(loss) before taxes | (551 | ) | (1,167 | ) | 2,440 | (434 | ) | 288 | ||||||||||||
| Income taxes | - | - | (39 | ) | - | (39 | ) | |||||||||||||
| Net income | $ | (551 | ) | $ | (1,167 | ) | $ | 2,401 | $ | (434 | ) | $ | 249 | |||||||
| Depreciation & amortization | 172 | 264 | 253 | 230 | 919 | |||||||||||||||
| Interest expense | - | 1 | 2 | - | 3 | |||||||||||||||
| Income taxes | - | - | 39 | - | 39 | |||||||||||||||
| EBITDA | (379 | ) | (902 | ) | 2,695 | (204 | ) | 1,210 | ||||||||||||
| Non-cash compensation | 159 | 166 | 152 | 207 | 684 | |||||||||||||||
| Cost of integration | - | - | - | - | - | |||||||||||||||
| Adjusted EBITDA | $ | (220 | ) | $ | (736 | ) | $ | 2,847 | $ | 3 | $ | 1,894 | ||||||||
