MIME 2017 Annual Report

59 MIMECAST LIMITED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Year Ended March 31, 2018 2017 2016 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) Net loss per ordinary share Basic and diluted $ (0.22) $ (0.10) $ (0.08) Weighted-average number of ordinary shares outstanding Basic and diluted 57,269 54,810 40,826 The accompanying notes are an integral part of these consolidated financial statements.