- Fourth quarter billings grew 42 percent period over period to $100.6 million; full year 2018 billings grew 43 percent year over year to $293.6 million
- Fourth quarter revenue grew 42 percent period over period to $67.3 million; full year 2018 revenue grew 39 percent year over year to $232.0 million
SILICON SLOPES, Utah, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Pluralsight, the enterprise technology skills company, today announced financial results for the fourth quarter and full year ended December 31, 2018.
“Pluralsight’s fourth quarter capped off a milestone year for the company, highlighted by strong customer additions and 42% revenue growth. We achieved our seventh consecutive quarter of greater than 50% growth in B2B billings, while continuing to demonstrate the inherent levers to profitability in our model,” said Aaron Skonnard, co-founder and CEO of Pluralsight.
Fourth Quarter Financial Highlights
- Billings - Q4 2018 billings were $100.6 million, an increase of 42% period over period. Q4 2018 billings from business customers were $87.1 million, an increase of 51% period over period.
- Revenue - Q4 2018 revenue was $67.3 million, an increase of 42% period over period.
- Gross margin - Q4 2018 gross margin was 76%, compared to 70% in Q4 2017. Q4 2018 non-GAAP gross margin was 77%, compared to 75% in Q4 2017.
- Net loss per share - GAAP net loss per share for Q4 2018 was $0.24. Adjusted pro forma net loss per share for Q4 2018 was $0.09, compared to $0.53 in Q4 2017.
- Cash flows - Cash provided by operations was $8.4 million for Q4 2018, compared to cash used in operations of $1.3 million in Q4 2017. Free cash flow was $5.2 million for Q4 2018, compared to negative free cash flow of $3.4 million in Q4 2017.
Full Year 2018 Financial Highlights
- Billings - 2018 billings were $293.6 million, an increase of 43% year over year. Billings from business customers for 2018 were $248.2 million, an increase of 52% year over year.
- Revenue - 2018 revenue was $232.0 million, an increase of 39% year over year.
- Gross margin - 2018 gross margin was 73%, compared to 70% in 2017. Non-GAAP gross margin for 2018 was 76%, compared to 74% in 2017.
- Net loss per share - GAAP net loss per share for 2018 was $0.65. Adjusted pro forma net loss per share for 2018 was $0.60, compared to $1.34 in 2017.
For information regarding the non-GAAP financial measures discussed in this press release, please see the section titled “Non-GAAP Financial Measures.” Reconciliations between GAAP and non-GAAP financial measures are provided in the tables of this press release.
Financial Outlook
Pluralsight is providing the following financial guidance for the first quarter 2019, and the full year 2019:
First Quarter 2019 guidance:
- Revenue is expected to be in the range of $68.0 million to $68.5 million.
- Adjusted pro forma net loss per share is expected to be in the range of $0.09 to $0.08, assuming weighted-average shares outstanding of approximately 135 million.
Full Year 2019 guidance:
- Revenue is expected to be in the range of $306 million to $314 million.
- Adjusted pro forma net loss per share is expected to be in the range of $0.32 to $0.26, assuming weighted-average shares outstanding of approximately 137 million.
Guidance for non-GAAP financial measures excludes equity-based compensation, amortization of acquired intangible assets, and employer payroll taxes on employee stock transactions. Pluralsight has not reconciled its expectations as to adjusted pro forma net loss per share to their most directly comparable GAAP measures because certain items cannot be reasonably predicted. Accordingly, a reconciliation for expectations of adjusted pro forma net loss per share is not available without unreasonable effort.
Conference Call Information
Pluralsight will host a conference call for analysts and investors to discuss its fourth quarter and full year 2018 results and outlook for its first quarter and full year 2019, today at 2:30 p.m., Mountain time (4:30 p.m. Eastern time).
| Date: | February 13, 2019 |
| Time: | 2:30 p.m. MT (4:30 p.m. ET) |
| Webcast: | https://investors.pluralsight.com/ |
| Dial-in number: | (877) 350-6732 or (629) 228-0693, conference ID: 8291428 |
A live audio webcast of the conference call will also be accessible from the Pluralsight website at investors.pluralsight.com. A telephonic replay of the call will be available three hours after the call, will run for seven days, and may be accessed by dialing (855) 859-2056 or (404) 537-3406 and entering the passcode 8291428.
About Pluralsight
Pluralsight is an enterprise technology skills platform that delivers a unified, end-to-end learning experience for businesses across the globe. Through a subscription service, companies are empowered to move at the speed of technology, increasing proficiency, innovation and efficiency. Founded in 2004 and trusted by Fortune 500 companies, Pluralsight provides members with on-demand access to a digital ecosystem of learning tools, including adaptive skill tests, directed learning paths, expert-authored courses, interactive labs and analytics. For more information, visit pluralsight.com.
Pluralsight and the Pluralsight logo are trademarks of Pluralsight, LLC in the United States and in jurisdictions throughout the world.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws that involve risks and uncertainties, including statements regarding our future financial and operating performance, including our financial outlook for the first quarter 2019, and the full year 2019. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: the pace of market adoption of cloud-based learning solutions; our ability to expand our course library and develop new platform features; competition; our ability to attract and retain customers; our ability to increase sales of subscriptions to our platform to customers; our ability to expand our sales and marketing capabilities; and general market, political, economic, and business conditions.
Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our final prospectus filed with the SEC on May 17, 2018 (File No. 333-224301), which is available on our website at investors.pluralsight.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
Key Business Metrics
Billings. Billings represents total revenue plus the change in deferred revenue in the period, as presented in our condensed consolidated statements of cash flows. Billings in any particular period represents amounts invoiced to customers and reflects subscription renewals and upsells to existing customers plus sales to new customers. We use billings to measure our ability to sell subscriptions to our platform to both existing and new customers. We use billings from business customers and our percentage of billings from business customers to measure and monitor our ability to sell subscriptions to our platform to business customers.
Non-GAAP Financial Measures
Pluralsight has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). Pluralsight uses the non-GAAP financial measures of non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, adjusted pro forma net loss, adjusted pro forma net loss per share, and free cash flow in analyzing its financial results and believes that the use of these metrics is useful to investors as an additional tool to evaluate ongoing operating results and trends and in comparing Pluralsight’s financial results with other companies in its industry, many of which present similar non-GAAP financial measures.
The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. A reconciliation of our historical non-GAAP financial measures to their most directly comparable GAAP measures have been provided in the financial statement tables included in this press release, and investors are encouraged to review these reconciliations.
Non-GAAP gross profit. We define non-GAAP gross profit as gross profit plus equity-based compensation, amortization of acquired intangible assets, and employer payroll taxes on employee stock transactions.
Non-GAAP gross margin. We define non-GAAP gross margin as non-GAAP gross profit divided by our revenue.
Non-GAAP operating loss. We define non-GAAP operating loss as loss from operations plus equity-based compensation, amortization of acquired intangible assets, and employer payroll taxes on employee stock transactions.
Adjusted pro forma net loss and adjusted pro forma net loss per share. We define adjusted pro forma net loss as net loss attributable to Pluralsight, Inc. adjusted for the reallocation of loss attributable to non-controlling interests from the assumed exchange of LLC Units of Pluralsight Holdings for newly-issued shares of Class A common stock of Pluralsight, Inc. and further adjusted for equity-based compensation, amortization of acquired intangible assets, employer payroll taxes on employee stock transactions, and loss on debt extinguishment. We define adjusted pro forma net loss per share as adjusted pro forma net loss divided by the weighted-average shares of Class A common stock outstanding, assuming the full exchange of all outstanding LLC Units of Pluralsight Holdings for newly-issued shares of Class A common stock of Pluralsight, Inc.
Free cash flow. We define free cash flow as cash provided by (used in) operating activities less purchases of property and equipment and purchases of our content library.
PLURALSIGHT, INC.
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2018 | 2017 | 2018 | 2017 | |||||||||||||
| Revenue | $ | 67,260 | $ | 47,408 | $ | 232,029 | $ | 166,824 | ||||||||
| Cost of revenue(1)(2) | 16,443 | 14,150 | 62,550 | 49,828 | ||||||||||||
| Gross profit | 50,817 | 33,258 | 169,479 | 116,996 | ||||||||||||
| Operating expenses(1)(2): | ||||||||||||||||
| Sales and marketing | 43,851 | 33,224 | 153,643 | 103,478 | ||||||||||||
| Technology and content | 18,953 | 15,314 | 65,998 | 49,293 | ||||||||||||
| General and administrative | 20,213 | 12,198 | 68,351 | 46,971 | ||||||||||||
| Total operating expenses | 83,017 | 60,736 | 287,992 | 199,742 | ||||||||||||
| Loss from operations | (32,200 | ) | (27,478 | ) | (118,513 | ) | (82,746 | ) | ||||||||
| Other (expense) income: | ||||||||||||||||
| Interest expense | (350 | ) | (3,289 | ) | (6,826 | ) | (11,665 | ) | ||||||||
| Loss on debt extinguishment | — | — | (4,085 | ) | (1,882 | ) | ||||||||||
| Other income (expense), net | 815 | (43 | ) | 1,504 | 81 | |||||||||||
| Loss before income taxes | (31,735 | ) | (30,810 | ) | (127,920 | ) | (96,212 | ) | ||||||||
| Provision for income taxes | (158 | ) | (108 | ) | (664 | ) | (324 | ) | ||||||||
| Net loss | $ | (31,893 | ) | $ | (30,918 | ) | $ | (128,584 | ) | $ | (96,536 | ) | ||||
| Less: Net loss attributable to non-controlling interests | (16,633 | ) | — | (44,917 | ) | — | ||||||||||
| Net loss attributable to Pluralsight, Inc. | $ | (15,260 | ) | $ | (30,918 | ) | $ | (83,667 | ) | $ | (96,536 | ) | ||||
| Less: Accretion of Series A redeemable convertible preferred units | — | (6,600 | ) | (176,275 | ) | (63,800 | ) | |||||||||
| Net loss attributable to common shares | $ | (15,260 | ) | $ | (37,518 | ) | $ | (259,942 | ) | $ | (160,336 | ) | ||||
| Net loss per share, basic and diluted(3) | $ | (0.24 | ) | $ | (0.65 | ) | ||||||||||
| Weighted-average common shares used in computing basic and diluted net loss per share(3) | 63,494 | 62,840 | ||||||||||||||
(1) Includes equity-based compensation expense as follows:
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2018 | 2017 | 2018 | 2017 | |||||||||||||
| Cost of revenue | $ | 54 | $ | 5 | $ | 140 | $ | 20 | ||||||||
| Sales and marketing | 4,987 | 614 | 14,330 | 2,624 | ||||||||||||
| Technology and content | 2,908 | 477 | 8,747 | 1,966 | ||||||||||||
| General and administrative | 9,382 | 1,697 | 31,086 | 17,171 | ||||||||||||
| Total equity-based compensation | $ | 17,331 | $ | 2,793 | $ | 54,303 | $ | 21,781 | ||||||||
(2) Includes amortization of acquired intangible assets as follows:
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2018 | 2017 | 2018 | 2017 | |||||||||||||
| Cost of revenue | $ | 783 | $ | 2,082 | $ | 7,586 | $ | 7,008 | ||||||||
| Sales and marketing | — | 238 | 389 | 721 | ||||||||||||
| Technology and content | 177 | 178 | 706 | 706 | ||||||||||||
| General and administrative | — | 10 | — | 91 | ||||||||||||
| Total amortization of acquired intangible assets | $ | 960 | $ | 2,508 | $ | 8,681 | $ | 8,526 | ||||||||
(3) Represents net loss per share of Class A common stock and weighted-average shares of Class A common stock outstanding for the periods following the reorganization transactions and Pluralsight, Inc.'s initial public offering.
PLURALSIGHT, INC.
Key Business Metrics and Non-GAAP Financial Measures
(in thousands, except per share amounts)
(unaudited)
Key Business Metrics
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2018 | 2017 | 2018 | 2017 | |||||||||||||
| Billings | $ | 100,624 | $ | 70,890 | $ | 293,583 | $ | 205,807 | ||||||||
| Billings from business customers | $ | 87,141 | $ | 57,873 | $ | 248,159 | $ | 162,965 | ||||||||
| % of billings from business customers | 87 | % | 82 | % | 85 | % | 79 | % | ||||||||
Non-GAAP Financial Measures
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2018 | 2017 | 2018 | 2017 | |||||||||||||
| Reconciliation of gross profit to non-GAAP gross profit: | ||||||||||||||||
| Gross profit | $ | 50,817 | $ | 33,258 | $ | 169,479 | $ | 116,996 | ||||||||
| Equity-based compensation | 54 | 5 | 140 | 20 | ||||||||||||
| Amortization of acquired intangible assets | 783 | 2,082 | 7,586 | 7,008 | ||||||||||||
| Employer payroll taxes on employee stock transactions | 16 | — | 16 | — | ||||||||||||
| Non-GAAP gross profit | $ | 51,670 | $ | 35,345 | $ | 177,221 | $ | 124,024 | ||||||||
| Gross margin | 76 | % | 70 | % | 73 | % | 70 | % | ||||||||
| Non-GAAP gross margin | 77 | % | 75 | % | 76 | % | 74 | % | ||||||||
| Reconciliation of loss from operations to non-GAAP operating loss: | ||||||||||||||||
| Loss from operations | $ | (32,200 | ) | $ | (27,478 | ) | $ | (118,513 | ) | $ | (82,746 | ) | ||||
| Equity-based compensation | 17,331 | 2,793 | 54,303 | 21,781 | ||||||||||||
| Amortization of acquired intangible assets | 960 | 2,508 | 8,681 | 8,526 | ||||||||||||
| Employer payroll taxes on employee stock transactions | 1,180 | — | 1,180 | — | ||||||||||||
| Non-GAAP operating loss | $ | (12,729 | ) | $ | (22,177 | ) | $ | (54,349 | ) | $ | (52,439 | ) | ||||
| Adjusted pro forma net loss per share | ||||||||||||||||
| Numerator: | ||||||||||||||||
| GAAP net loss attributable to common shares | $ | (15,260 | ) | $ | (37,518 | ) | $ | (259,942 | ) | $ | (160,336 | ) | ||||
| Accretion of Series A redeemable convertible preferred units | — | 6,600 | 176,275 | 63,800 | ||||||||||||
| Reallocation of net loss attributable to non-controlling interests from the assumed exchange of LLC Units of Pluralsight Holdings for Class A common stock | (16,633 | ) | — | (44,917 | ) | — | ||||||||||
| Equity-based compensation | 17,331 | 2,793 | 54,303 | 21,781 | ||||||||||||
| Amortization of acquired intangibles | 960 | 2,508 | 8,681 | 8,526 | ||||||||||||
| Employer payroll taxes on employee stock transactions | 1,180 | — | 1,180 | — | ||||||||||||
| Loss on debt extinguishment | — | — | 4,085 | 1,882 | ||||||||||||
| Adjusted pro forma net loss | $ | (12,422 | ) | $ | (25,617 | ) | $ | (60,335 | ) | $ | (64,347 | ) | ||||
| Denominator: | ||||||||||||||||
| Weighted-average shares of Class A common stock outstanding | 63,494 | — | 39,426 | — | ||||||||||||
| Weighted-average LLC Units of Pluralsight Holdings that are convertible into Class A common stock | 69,211 | 48,329 | 61,221 | 47,957 | ||||||||||||
| Adjusted pro forma weighted-average common shares outstanding, basic and diluted | 132,705 | 48,329 | 100,647 | 47,957 | ||||||||||||
| Adjusted pro forma net loss per share | $ | (0.09 | ) | $ | (0.53 | ) | $ | (0.60 | ) | $ | (1.34 | ) | ||||
| Reconciliation of net cash provided by (used in) operating activities to free cash flow: | ||||||||||||||||
| Net cash provided by (used in) operating activities | $ | 8,387 | $ | (1,323 | ) | $ | (5,896 | ) | $ | (12,139 | ) | |||||
| Less: Purchases of property and equipment | (2,220 | ) | (1,492 | ) | (8,796 | ) | (5,951 | ) | ||||||||
| Less: Purchases of content library | (995 | ) | (613 | ) | (3,340 | ) | (2,382 | ) | ||||||||
| Free cash flow | $ | 5,172 | $ | (3,428 | ) | $ | (18,032 | ) | $ | (20,472 | ) | |||||
PLURALSIGHT, INC.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
| December 31, | ||||||||
| 2018 | 2017 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 194,306 | $ | 28,267 | ||||
| Accounts receivable, net | 63,436 | 38,229 | ||||||
| Prepaid expenses and other current assets | 8,323 | 5,125 | ||||||
| Total current assets | 266,065 | 71,621 | ||||||
| Property and equipment, net | 31,641 | 22,457 | ||||||
| Content library, net | 7,050 | 13,441 | ||||||
| Intangible assets, net | 1,759 | 2,854 | ||||||
| Goodwill | 123,119 | 123,119 | ||||||
| Restricted cash | 16,765 | 210 | ||||||
| Other assets | 1,064 | 2,718 | ||||||
| Total assets | $ | 447,463 | $ | 236,420 | ||||
| Liabilities, redeemable convertible preferred units, and stockholders' equity/members’ deficit | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 7,160 | $ | 6,029 | ||||
| Accrued expenses | 32,047 | 26,514 | ||||||
| Accrued author fees | 10,002 | 7,879 | ||||||
| Deferred revenue | 157,695 | 103,107 | ||||||
| Total current liabilities | 206,904 | 143,529 | ||||||
| Deferred revenue, net of current portion | 14,886 | 8,194 | ||||||
| Long-term debt | — | 116,037 | ||||||
| Facility financing obligations | 15,777 | 7,513 | ||||||
| Other liabilities | 1,303 | 458 | ||||||
| Total liabilities | 238,870 | 275,731 | ||||||
| Redeemable convertible preferred units | — | 405,766 | ||||||
| Stockholders' equity/members’ deficit: | ||||||||
| Preferred stock | — | — | ||||||
| Class A common stock | 7 | — | ||||||
| Class B common stock | 6 | — | ||||||
| Class C common stock | 1 | — | ||||||
| Additional paid-in capital | 452,576 | — | ||||||
| Accumulated other comprehensive (loss) income | (41 | ) | 25 | |||||
| Accumulated deficit | (351,123 | ) | (445,102 | ) | ||||
| Total stockholders' equity attributable to Pluralsight, Inc./members' deficit | 101,426 | (445,077 | ) | |||||
| Non-controlling interests | 107,167 | — | ||||||
| Total stockholders' equity/members' deficit | 208,593 | (445,077 | ) | |||||
| Total liabilities, redeemable convertible preferred units, and stockholders' equity/members’ deficit | $ | 447,463 | $ | 236,420 | ||||
PLURALSIGHT, INC.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2018 | 2017 | 2018 | 2017 | |||||||||||||
| Operating activities | ||||||||||||||||
| Net loss | $ | (31,893 | ) | $ | (30,918 | ) | $ | (128,584 | ) | $ | (96,536 | ) | ||||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||||||||||||
| Depreciation of property and equipment | 1,987 | 2,308 | 8,318 | 6,675 | ||||||||||||
| Amortization of acquired intangible assets | 960 | 2,508 | 8,681 | 8,526 | ||||||||||||
| Amortization of course creation costs | 556 | 412 | 1,993 | 1,462 | ||||||||||||
| Equity-based compensation | 17,331 | 2,793 | 54,303 | 21,781 | ||||||||||||
| Provision for doubtful accounts | 182 | 119 | 675 | 479 | ||||||||||||
| Amortization of debt discount and debt issuance costs | — | 773 | 1,215 | 1,847 | ||||||||||||
| Debt extinguishment costs | — | — | 4,197 | 931 | ||||||||||||
| Deferred tax benefit | (146 | ) | (83 | ) | (244 | ) | (83 | ) | ||||||||
| Other | 153 | 63 | 153 | 63 | ||||||||||||
| Changes in assets and liabilities: | ||||||||||||||||
| Accounts receivable | (15,804 | ) | (13,403 | ) | (26,156 | ) | (16,123 | ) | ||||||||
| Prepaid expenses and other assets | (492 | ) | 408 | (3,482 | ) | (2,796 | ) | |||||||||
| Accounts payable | 457 | 173 | 1,385 | 2,561 | ||||||||||||
| Accrued expenses and other liabilities | 1,061 | 9,239 | 7,973 | 17,960 | ||||||||||||
| Accrued author fees | 671 | 803 | 2,123 | 2,131 | ||||||||||||
| Deferred revenue | 33,364 | 23,482 | 61,554 | 38,983 | ||||||||||||
| Net cash provided by (used in) operating activities | 8,387 | (1,323 | ) | (5,896 | ) | (12,139 | ) | |||||||||
| Investing activities | ||||||||||||||||
| Purchases of property and equipment | (2,220 | ) | (1,492 | ) | (8,796 | ) | (5,951 | ) | ||||||||
| Purchases of content library | (995 | ) | (613 | ) | (3,340 | ) | (2,382 | ) | ||||||||
| Net cash used in investing activities | (3,215 | ) | (2,105 | ) | (12,136 | ) | (8,333 | ) | ||||||||
| Financing activities | ||||||||||||||||
| Proceeds from initial public offering, net of underwriting discounts and commissions | — | — | 332,080 | — | ||||||||||||
| Payments of costs related to initial public offering | — | (132 | ) | (7,083 | ) | (307 | ) | |||||||||
| Taxes paid related to net share settlement | (16,827 | ) | — | (16,905 | ) | — | ||||||||||
| Proceeds from issuance of common stock from employee equity plans | 13,378 | — | 13,378 | — | ||||||||||||
| Borrowings of long-term debt | — | — | 20,000 | 115,000 | ||||||||||||
| Repayments of long-term debt | — | — | (137,710 | ) | (85,000 | ) | ||||||||||
| Payments of debt extinguishment costs | — | — | (2,179 | ) | — | |||||||||||
| Payments of debt issuance costs | — | (17 | ) | (450 | ) | (854 | ) | |||||||||
| Payments to settle equity appreciation rights | — | — | (325 | ) | — | |||||||||||
| Proceeds from the issuance of common units, net of issuance costs | — | 1,263 | — | 4,399 | ||||||||||||
| Redemption of incentive units | — | (923 | ) | — | (3,724 | ) | ||||||||||
| Other | (4 | ) | (4 | ) | (17 | ) | (16 | ) | ||||||||
| Net cash (used in) provided by financing activities | (3,453 | ) | 187 | 200,789 | 29,498 | |||||||||||
| Effect of exchange rate change on cash, cash equivalents, and restricted cash | (27 | ) | 16 | (163 | ) | 54 | ||||||||||
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 1,692 | (3,225 | ) | 182,594 | 9,080 | |||||||||||
| Cash, cash equivalents, and restricted cash, beginning of period | 209,379 | 31,702 | 28,477 | 19,397 | ||||||||||||
| Cash, cash equivalents, and restricted cash, end of period | $ | 211,071 | $ | 28,477 | $ | 211,071 | $ | 28,477 | ||||||||
| Reconciliation of cash, cash equivalents, and restricted cash: | ||||||||||||||||
| Cash and cash equivalents | $ | 194,306 | $ | 28,267 | $ | 194,306 | $ | 28,267 | ||||||||
| Restricted cash | 16,765 | 210 | 16,765 | 210 | ||||||||||||
| Total cash, cash equivalents, and restricted cash | $ | 211,071 | $ | 28,477 | $ | 211,071 | $ | 28,477 | ||||||||
Investor Relations Contact:
Mark McReynolds
Investor Relations
Pluralsight
801-784-9007
ir@pluralsight.com
Media Contact:
DJ Anderson
Communications/Press
Pluralsight
801-784-9007
dj@pluralsight.com