| (Unaudited) | ||||||||||||||||
| Three months ended | ||||||||||||||||
| ASC 606 | ||||||||||||||||
| (in thousands) |
March 31,
2018 |
June 30,
2018 |
September 30,
2018 |
December 31,
2018 | ||||||||||||
| Software product revenue | $ | 89,670 | $ | 70,606 | $ | 64,182 | $ | 79,903 | ||||||||
| Total revenue | 113,257 | 93,360 | 86,751 | 103,011 | ||||||||||||
| Net income (loss) | 24,684 | (1,080 | ) | 934 | (9,003 | ) | ||||||||||
| Adjusted EBITDA | 29,550 | 5,303 | 2,399 | 12,928 | ||||||||||||
Business Outlook
The following table provides a reconciliation of projected Non-GAAP net income to projected net loss, the most comparable GAAP financial measure:
| (Unaudited) | ||||||||||||||||
|
Three Months ending
December 31, 2019 |
Year Ending
December 31, 2019 | |||||||||||||||
| (in thousands) | Low | High | Low | High | ||||||||||||
| Net loss | $ | (5,350 | ) | $ | (3,350 | ) | $ | (11,400 | ) | $ | (9,400 | ) | ||||
| Stock-based compensation expense | 2,100 | 2,100 | 7,700 | 7,700 | ||||||||||||
| Amortization of intangible assets | 3,600 | 3,600 | 14,300 | 14,300 | ||||||||||||
| Acquisition related deferred revenue (1) | 2,250 | 2,250 | 9,000 | 9,000 | ||||||||||||
| Non-recurring adjustments | — | — | 2,000 | 2,000 | ||||||||||||
| Income tax effect of non-GAAP adjustments | (370 | ) | (370 | ) | (1,500 | ) | (1,500 | ) | ||||||||
| Non-GAAP net income | $ | 2,230 | $ | 4,230 | $ | 20,100 | $ | 22,100 | ||||||||
