TechTarget, Inc. (TTGT) · 10+ Years of Financial statements

Income Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	86	95	105	100	88	106	112	107	109	121	134	148	263	297	230
+ Sales & Services Revenue	86	95	105	100	88	106	112	107	109	121	134	148	263	297	230
- Cost of Revenue	25	23	27	28	27	28	30	30	28	29	32	37	71	78	76
+ Cost of Goods & Services	25	23	27	28	27	28	30	30	28	29	32	37	71	78	76
Gross Profit	62	72	78	72	61	78	82	76	80	92	102	111	192	219	154
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	67	70	68	64	64	71	70	70	70	76	79	88	158	158	157
+ Selling, General & Admin	52	55	53	50	51	58	57	57	57	62	67	74	131	133	131
+ Research & Development	9	8	8	8	7	7	8	8	8	9	8	8	12	12	11
+ Other Operating Expense	7	7	7	7	6	6	5	5	5	5	5	6	15	13	15
Operating Income (Loss)	-6	2	11	8	-2	7	12	7	10	17	23	23	34	61	-2
- Non-Operating (Income) Loss	- -	- -	- -	- -	- -	- -	- -	2	1	2	1	- -	23	4	-17
+ Interest Expense, Net	- -	- -	- -	- -	- -	- -	- -	2	1	2	1	- -	23	-1	-12
+ Interest Expense	- -	- -	- -	- -	- -	- -	- -	2	1	2	1	- -	23	- -	- -
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	12
+ Other Non-Op (Income) Loss	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	4	-5
Pretax Income	-5	2	10	8	-2	7	12	5	10	15	22	23	11	58	14
- Income Tax Expense (Benefit)	- -	3	6	4	-1	3	5	3	3	2	5	5	10	16	10
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-5	-1	5	4	-2	4	7	2	7	13	17	17	1	42	4
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-5	-1	5	4	-2	4	7	2	7	13	17	17	1	42	4
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-5	-1	5	4	-2	4	7	2	7	13	17	17	1	42	4
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-5	-1	5	4	-2	4	7	2	7	13	17	17	1	42	4
Basic Weighted Avg Shares	42	43	39	40	38	33	33	30	28	28	28	28	28	30	28
Basic EPS, GAAP	-0.12	-0.03	0.12	0.1	-0.05	0.12	0.22	0.08	0.25	0.47	0.61	0.61	0.03	1.41	0.16
Basic EPS from Cont Ops	-0.12	-0.03	0.12	0.1	-0.05	0.12	0.22	0.08	0.25	0.47	0.61	0.61	0.03	1.41	0.16
Diluted Weighted Avg Shares	42	43	41	41	38	35	34	31	28	29	28	29	29	34	28
Diluted EPS, GAAP	-0.12	-0.03	0.12	0.1	-0.05	0.12	0.21	0.08	0.24	0.45	0.6	0.6	0.03	1.22	0.16
Diluted EPS from Cont Ops	-0.12	-0.03	0.12	0.1	-0.05	0.12	0.21	0.08	0.24	0.45	0.6	0.6	0.03	1.22	0.16
EBITDA	1	9	17	15	4	13	18	12	15	21	28	30	55	79	19
EBITDA Margin (%)	1.53	9.27	16.5	14.73	4.04	12.51	15.68	10.96	13.86	17.45	20.71	20.06	20.8	26.72	8.2
EBITA	-6	2	11	8	-2	7	12	7	10	17	23	24	34	61	-2
EBIT	-6	2	11	8	-2	7	12	7	10	17	23	23	34	61	-2
Gross Margin (%)	71.12	75.69	74.28	72.18	69.34	73.59	73.26	71.66	73.9	76.13	76.22	74.83	72.97	73.62	67.15
Operating Margin (%)	-6.48	2	10.11	8.1	-2.8	7.02	10.88	6.37	9.59	13.7	16.97	15.38	13.04	20.55	-0.99
Profit Margin (%)	-5.91	-1.24	4.44	4.02	-2.08	3.84	6.43	2.27	6.27	10.68	12.6	11.5	0.36	13.99	1.94
Sales per Employee	163,202	164,660	163,057	151,272	138,491	154,815	160,670	161,798	174,527	187,532	206,405	157,847	263,427	297,488	239,545
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	7	7	7	7	6	6	5	5	5	5	5	6	20	18	21

Balance Sheet	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	92	77	86	81	58	54	62	58	68	70	87	128	438	431	371
+ Cash, Cash Equivalents & STI	71	50	56	55	30	25	25	29	34	35	57	83	382	365	326
+ Cash & Cash Equivalents	21	33	26	48	15	19	15	18	26	35	52	83	362	345	227
+ ST Investments	50	18	31	7	14	5	11	11	8	- -	5	- -	20	20	100
+ Accounts & Notes Receiv	16	25	26	24	22	23	27	23	30	30	27	40	51	60	39
+ Accounts Receivable, Net	16	25	26	24	22	23	27	23	30	30	27	40	51	60	39
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	5	2	3	2	6	6	10	6	4	5	3	5	5	6	6
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	122	117	125	139	119	124	116	112	106	106	134	329	351	334	328
+ Property, Plant & Equip, Net	4	6	8	9	9	-7	-9	-12	-15	-17	13	40	5	-2	42
+ Property, Plant & Equip	12	13	16	19	21	9	9	9	10	11	39	70	42	43	97
- Accumulated Depreciation	8	7	8	11	12	16	18	21	25	28	26	31	37	44	55
+ LT Investments & Receivables	11	- -	7	21	4	13	9	8	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	11	- -	7	21	4	13	9	8	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	107	111	111	109	106	117	116	116	120	124	121	289	346	336	286
+ Total Intangible Assets	101	103	101	101	99	97	95	94	94	95	94	288	307	288	283
+ Goodwill	89	92	93	94	94	94	94	93	94	94	94	179	197	192	194
+ Other Intangible Assets	13	10	8	7	5	3	1	1	1	1	1	109	110	96	89
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	5	8	10	8	6	20	21	22	26	29	27	1	38	48	3
Total Assets	214	194	211	220	177	178	178	170	173	176	222	457	789	765	700
+ Payables & Accruals	7	8	8	8	6	7	5	5	5	5	5	21	21	22	17
+ Accounts Payable	3	4	3	3	3	3	2	2	2	2	2	4	4	3	5
+ Accrued Taxes	- -	- -	1	1	- -	1	1	- -	- -	- -	- -	- -	- -	8	3
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	4	4	4	4	3	3	3	3	3	3	2	17	17	11	9
+ ST Debt	- -	- -	- -	- -	- -	- -	- -	6	10	1	4	4	4	4	4
+ ST Borrowings	- -	- -	- -	- -	- -	- -	- -	6	10	1	1	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	4	4	4	4
+ Other ST Liabilities	8	7	7	7	8	10	10	7	9	8	8	21	45	32	16
+ Deferred Revenue	8	7	6	6	7	7	8	6	8	6	4	16	30	27	15
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	1	1	1	3	2	1	1	2	4	6	15	5	1
Total Current Liabilities	16	15	15	15	14	17	15	18	24	15	16	46	70	58	37
+ LT Debt	- -	- -	- -	- -	- -	- -	- -	32	22	24	51	181	477	476	427
+ LT Borrowings	- -	- -	- -	- -	- -	- -	- -	32	22	24	22	154	453	456	410
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	28	27	24	20	17
+ Other LT Liabilities	1	5	6	6	6	5	3	2	6	6	2	27	19	13	13
+ Accrued Liabilities	- -	- -	6	4	4	3	3	2	6	6	2	24	16	13	13
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	1	5	1	2	2	2	- -	- -	- -	- -	- -	3	3	- -	- -
Total Noncurrent Liabilities	1	5	6	6	6	5	3	35	28	29	52	208	496	489	440
Total Liabilities	16	20	22	21	20	22	18	53	52	44	69	254	566	547	477
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	234	246	258	263	271	282	293	297	301	307	318	363	383	426	472
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	234	246	257	263	271	282	293	297	301	307	318	363	383	425	472
- Treasury Stock	- -	35	35	36	84	100	114	163	171	178	185	200	200	279	329
+ Retained Earnings	-36	-37	-32	-28	-30	-26	-19	-16	-9	4	21	38	39	80	85
+ Other Equity	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	- -	-10	-5
Equity Before Minority Interest	198	174	190	199	157	156	160	118	121	133	153	203	223	217	223
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	198	174	190	199	157	156	160	118	121	133	153	203	223	217	223
Total Liabilities & Equity	214	194	211	220	177	178	178	170	173	176	222	457	789	765	700
Shares Outstanding	42	37	39	40	32	32	32	27	27	28	28	28	30	29	28
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	31	31	28	24	21
Net Debt	-21	-33	-26	-48	-15	-19	-15	20	6	-10	-29	71	92	111	184
Net Debt to Equity	-10.55	-18.74	-13.59	-24.29	-9.81	-12.36	-9.24	16.98	5.19	-7.33	-18.81	35.19	41.11	51.12	82.46
Tangible Common Equity Ratio	85.61	78.11	80.47	82.51	74.41	73.14	78.41	30.91	33.53	46.44	46.05	-50.71	-17.59	-14.73	-14.47
Current Ratio	5.91	5.18	5.67	5.49	4.07	3.24	4.11	3.23	2.82	4.82	5.33	2.75	6.26	7.44	10.04
Cash Conversion Cycle	22.99	23.24	42.83	53.72	57.86	42.61	53.48	60.44	64.22	68.2	55.47	51.78	42.51	51.91	58.24
Number of Employees	530	577	647	661	639	686	696	659	622	647	649	940	1,000	1,000	960

Cash Flow Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	-5	-1	5	4	-2	4	7	2	7	13	17	17	1	42	4
+ Depreciation & Amortization	7	7	7	7	6	6	5	5	5	5	5	7	20	18	21
+ Non-Cash Items	13	11	5	7	8	8	6	9	9	10	13	17	65	44	46
+ Stock-Based Compensation	13	11	7	5	6	7	7	7	7	9	14	17	39	44	48
+ Deferred Income Taxes	-1	-2	-1	- -	2	- -	2	1	1	- -	-1	- -	3	-4	-1
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	2	2	-1	1	1	- -	-2	1	1	1	- -	- -	23	5	-1
+ Chg in Non-Cash Work Cap	5	-4	-1	1	-4	1	-7	2	-2	-4	4	12	-4	-13	1
+ (Inc) Dec in Accts Receiv	2	-8	-2	2	1	-2	-4	3	-8	-2	3	- -	-12	-12	19
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	3	1	-1	- -	-1	-1	- -	- -	-1	- -	1	- -	-1	- -	- -
+ Inc (Dec) in Accts Payable	- -	3	4	-1	-5	4	-1	- -	2	- -	2	8	-7	5	-5
+ Inc (Dec) in Other	- -	- -	-3	- -	- -	-1	-2	-2	5	-2	-1	4	15	-5	-14
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	20	13	16	19	8	18	11	18	19	24	39	52	82	91	72
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-2	-5	-4	-4	-4	-4	-4	-4	-4	-6	-6	-7	-13	-14	-15
+ Acq of Fixed Prod Assets	-2	-5	-4	-4	-4	-4	-4	-4	-4	-6	-6	-7	-13	-14	-15
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	-18	43	-21	9	9	-1	-1	1	10	8	-5	5	-20	- -	-78
+ Dec in LT Investment	42	86	17	30	26	14	7	11	11	8	- -	5	- -	- -	- -
+ Inc in LT Investment	-60	-43	-38	-21	-16	-15	-8	-10	- -	- -	-5	- -	-20	- -	-78
+ Net Cash From Acq & Div	- -	-5	-2	-1	- -	- -	- -	- -	- -	- -	- -	-174	-24	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	-5	-2	-1	- -	- -	- -	- -	- -	- -	- -	-174	-24	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-20	33	-27	3	5	-5	-5	-4	6	2	-11	-176	-57	-14	-93
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	-3	- -	- -	- -	- -	- -	- -	39	-6	-8	-1	171	267	- -	-43
+ Cash From Debt	- -	- -	- -	- -	- -	- -	- -	50	- -	25	- -	195	414	- -	- -
+ Repayments of Debt	-3	- -	- -	- -	- -	- -	- -	-11	-6	-32	-1	-24	-147	- -	-43
+ Cash (Repurchase) of Equity	- -	-35	- -	- -	-48	-15	-15	-49	-8	-7	-7	-15	- -	-79	-50
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	-35	- -	- -	-48	-15	-15	-49	-8	-7	-7	-15	- -	-79	-50
+ Other Financing Activities	- -	1	5	1	2	5	4	-1	-3	-2	-2	-3	-12	-14	-6
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-3	-34	5	1	-46	-10	-11	-11	-17	-17	-11	153	254	-93	-98
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1
Net Changes in Cash	-3	12	-7	23	-33	4	-4	4	8	9	18	30	279	-17	-119
EBITDA	1	9	17	15	4	13	18	12	15	21	28	30	55	79	19
EBITDA Margin (%)	1.53	9.27	16.5	14.73	4.04	12.51	15.68	10.96	13.86	17.45	20.71	20.06	20.8	26.72	8.2
Net Cash Paid for Acquisitions	- -	5	2	1	- -	- -	- -	- -	- -	- -	- -	174	24	- -	- -
Free Cash Flow	18	8	11	14	4	14	8	14	15	18	33	46	69	77	58
Free Cash Flow to Firm	- -	8	11	14	- -	15	8	15	15	20	34	46	71	77	58
Free Cash Flow to Equity	15	8	11	14	4	14	8	53	8	11	32	217	336	77	15
Free Cash Flow per Basic Share	0.42	0.19	0.3	0.36	0.1	0.44	0.23	0.46	0.53	0.66	1.19	1.64	2.43	2.59	2.04
Price/Free Cash Flow	11.61	18.77	11.93	9.34	19.73	17.14	18.64	11.56	17.31	11.87	15.95	28.2	30.17	14.16	11.74
Cash Flow to Net Income	-3.86	-10.9	3.38	4.63	-4.5	4.46	1.57	7.51	2.74	1.84	2.34	3.07	86.09	2.18	16.25

TechTarget, Inc.

TTGT US

31.09

31.09