SEC Filings

10-Q
CRAY INC filed this Form 10-Q on 10/30/2018
Entire Document
 


CRAY INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited and in thousands, except per share data)
 
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
2018
 
2017
 
2018
 
2017
Revenue:
 
 
 
 
 
 
 
 
Product
 
$
57,990

 
$
45,280

 
$
185,823

 
$
117,939

Service
 
34,806

 
34,420

 
106,770

 
107,927

Total revenue
 
92,796

 
79,700

 
292,593

 
225,866

Cost of revenue:
 
 
 
 
 
 
 
 
Cost of product revenue
 
49,053

 
35,090

 
148,372

 
89,356

Cost of service revenue
 
18,932

 
16,118

 
54,651

 
55,866

Total cost of revenue
 
67,985

 
51,208

 
203,023

 
145,222

Gross profit
 
24,811

 
28,492

 
89,570

 
80,644

Operating expenses:
 
 
 
 
 
 
 
 
Research and development, net
 
26,162

 
26,626

 
85,436

 
76,591

Sales and marketing
 
15,282

 
13,392

 
46,165

 
43,292

General and administrative
 
6,580

 
7,022

 
17,983

 
23,024

Restructuring
 

 
7,653

 
476

 
7,653

Total operating expenses
 
48,024

 
54,693

 
150,060

 
150,560

Loss from operations
 
(23,213
)
 
(26,201
)
 
(60,490
)
 
(69,916
)
 
 
 
 
 
 
 
 
 
Other income, net
 
151

 
4,161

 
199

 
5,358

Interest income, net
 
908

 
880

 
2,288

 
2,655

Gain on strategic transaction
 

 
4,389

 

 
4,389

Loss before income taxes
 
(22,154
)
 
(16,771
)
 
(58,003
)
 
(57,514
)
Income tax benefit (expense)
 
(239
)
 
6,539

 
(348
)
 
21,227

Net loss
 
$
(22,393
)
 
$
(10,232
)
 
$
(58,351
)
 
$
(36,287
)
 
 
 
 
 
 
 
 
 
Basic net loss per common share
 
$
(0.55
)
 
$
(0.25
)
 
$
(1.44
)
 
$
(0.91
)
Diluted net loss per common share
 
$
(0.55
)
 
$
(0.25
)
 
$
(1.44
)
 
$
(0.91
)
 
 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
 
40,778

 
40,199

 
40,611

 
40,082

Diluted weighted average shares outstanding
 
40,778

 
40,199

 
40,611

 
40,082


The accompanying notes are an integral part of these condensed consolidated financial statements

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