MIME 2017 Annual Report

42 Operating Results The following table sets forth selected consolidated statements of operations data for each of the periods indicated: Year Ended March 31, 2018 2017 2016 (in thousands) Revenue $ 261,897 $ 186,563 $ 141,841 Cost of revenue 69,699 50,314 41,809 Gross profit 192,198 136,249 100,032 Operating expenses Research and development 38,373 22,593 17,663 Sales and marketing 121,246 96,154 65,187 General and administrative 36,989 27,875 19,756 Impairment of long-lived assets 1,712 — — Restructuring 832 — — Total operating expenses 199,152 146,622 102,606 Loss from operations (6,954) (10,373) (2,574) Other income (expense) Interest income 1,310 510 74 Interest expense (598) (268) (690) Foreign exchange (expense) income (3,511) 6,892 811 Other income, net 72 — — Total other income (expense), net (2,727) 7,134 195 Loss before income taxes (9,681) (3,239) (2,379) Provision for income taxes 2,705 2,202 865 Net loss $ (12,386) $ (5,441) $ (3,244) The following table sets forth our consolidated statements of operations data as a percentage of revenue for each of the periods indicated: Year Ended March 31, 2018 2017 2016 Revenue 100% 100% 100% Cost of revenue 27 27 29 Gross profit 73 73 71 Operating expenses Research and development 15 12 12 Sales and marketing 46 52 46 General and administrative 14 15 14 Impairment of long-lived assets 1 — — Restructuring — — — Total operating expenses 76 79 72 Loss from operations (3) (6) (1) Other income (expense) Interest income 1 — — Interest expense — — — Foreign exchange (expense) income (1) 4 1 Other income, net — — — Total other income (expense), net — 4 1 Loss before income taxes (3) (2) — Provision for income taxes 1 1 1 Net loss (4)% (3)% (1)%