Support.com, Inc. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter of 2015
For the year, total non-GAAP and GAAP revenue for 2014 was $83.0 million. Total non-GAAP revenue was $88.9 million in 2013. Total GAAP revenue for 2013 was $88.2 million, after warrant-related charges of $777,000. Non-GAAP income from continuing operations for 2014 was $1.1 million, or $0.02 per share, compared to $16.8 million, or $0.31 per share, in 2013. On a GAAP basis, loss from continuing operations for 2014 was $3.6 million, or $0.07 per share, compared to income from continuing operations of $10.3 million, or $0.19 per share, in 2013. Loss from continuing operations, before income taxes was $2,856,000 compared to income of $11,121,000 a year ago. Net loss was $3,483,000 or $0.07 per diluted share compared to income of $10,383,000 or $0.19 per diluted share a year ago. Non-GAAP income from continuing operations, after income taxes was $1,111,000 or $0.02 per diluted share compared to $16,760,000 or $0.31 per diluted share a year ago.
For the first quarter of 2015, the company expected revenue range to be between $22 million to $23 million, with a revenue mix similar to fourth quarter 2014 of 94% services and 6% software. The company expected the overall non-GAAP gross margin to be in the mid-20s. The company expected non-GAAP software gross margin to be approximately 86% and non-GAAP operating expenses to increase sequentially by approximately 15% as it continues to invest in Nexus development and go-to-market capabilities. Based on the foregoing, the outlook for non-GAAP results and continuing operations is a loss of $0.01 to a loss of $0.04 per share.