Determine Announces 2nd Quarter Fiscal Year 2017 Financial Results
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CARMEL, IN -- (Marketwired) -- 11/10/16 -- November 10, 2016 - Determine, Inc. (NASDAQ: DTRM), a leading global provider of SaaS enterprise Source to Pay and Enterprise Contract Lifecycle Management, including cloud-based strategic sourcing, supplier management, contract management and procure-to-pay solutions, announced financial results for its second fiscal quarter ended September 30, 2016.
Q2 FY2017 GAAP Financial Highlights:
- GAAP revenue was $6.6 million in Q2 FY2017, compared to $6.8 million in Q2 FY2016, representing a 2.7% decrease year-over-year, and compared to $6.5 million in Q1 FY2017 GAAP revenue, representing a 1.4% quarter-over-quarter increase.
- GAAP gross profit percentage decreased to 47.7% in Q2 FY2017, compared to 51.8% in Q2 FY2016, representing a year-over-year decrease of 4.1 percentage points, and compared to 52.1% in Q1 FY2017.
- Deferred revenues increased 12.3% to $9.3 million in Q2 FY2017 from $8.3 million in Q2 FY2016.
- GAAP net loss was $3.2 million or ($0.28) per share in Q2 FY2017, compared to $3.4 million or ($0.32) per share in Q2 FY2016, representing a $0.04 improvement per share year-over-year; in Q1 FY2017 the GAAP net loss was $2.3 million or ($0.21) per share.
(in thousands, except per share amounts)
----------------------------------------------------------------------------
GAAP Financial Measures Q2 Q1 Q2 Change Change
--------------------------------------------------
FY 2017 FY 2017 FY 2016 Q/Q Y/Y
----------------------------------------------------------------------------
Revenue - total $ 6,584 $ 6,492 $ 6,765 1.4% -2.7%
----------------------------------------------------------------------------
Revenue - recurring $ 5,145 $ 5,068 $ 5,413 1.5% -4.9%
----------------------------------------------------------------------------
Revenue - non-recurring $ 1,439 $ 1,424 $ 1,352 1.1% 6.5%
----------------------------------------------------------------------------
Gross profit - total $ 3,138 $ 3,385 $ 3,505 -7.3% -10.5%
----------------------------------------------------------------------------
Gross profit - recurring $ 3,442 $ 3,462 $ 3,656 -0.6% -5.9%
----------------------------------------------------------------------------
Gross profit/ (loss) -
non-recurring $ (304) $ (77) $ (151) -295.7% -101.2%
----------------------------------------------------------------------------
Gross margin - total (4.6 (4.1
47.7% 52.1% 51.8% pts) pts)
----------------------------------------------------------------------------
Gross margin - recurring (1.6 (0.7
66.9% 68.3% 67.5% pts) pts)
----------------------------------------------------------------------------
Gross margin - non (15.7 (9.9
recurring (21.1%) (5.4%) (11.2%) pts) pts)
----------------------------------------------------------------------------
Net loss $(3,207) $(2,342) $(3,425) (36.9%) 6.4%
----------------------------------------------------------------------------
EPS $ (0.28) $ (0.21) $ (0.32) $ (0.07) $ 0.04
----------------------------------------------------------------------------
(in thousands, except
per share amounts)
-----------------------------------------------------------
GAAP Financial Measures Six Months
-----------------------------------
Change
FY 2017' FY 2016' Y/Y
-----------------------------------------------------------
Revenue - total 13,076 12,980 0.7%
-----------------------------------------------------------
Revenue - recurring 10,213 10,508 (2.8%)
-----------------------------------------------------------
Revenue - non-recurring 2,863 2,472 15.8%
-----------------------------------------------------------
Gross profit - total 6,523 6,811 (4.2%)
-----------------------------------------------------------
Gross profit - recurring 6,903 7,321 (5.7%)
-----------------------------------------------------------
Gross profit/ (loss) -
non-recurring (381) (510) 25.4%
-----------------------------------------------------------
Gross margin - total 49.9% 52.5% (2.6 pts)
-----------------------------------------------------------
Gross margin - recurring 67.6% 69.7% (2.1 pts)
-----------------------------------------------------------
Gross margin - non
recurring -13.3% -20.6% 7.3 pts
-----------------------------------------------------------
Net loss $ (5,550) $ (6,368) 12.9%
-----------------------------------------------------------
EPS $ (0.48) $ (0.66) $ 0.17
-----------------------------------------------------------
Q2 FY2017 Non-GAAP Financial Highlights:
- Non-GAAP revenue was $6.6 million in Q2 FY2017, compared to $6.8 million in Q2 FY2016, representing a 3.8% decrease year-over-year, and compared to $6.5 million in Q1 FY2017, representing a 1.3% quarter-over-quarter increase.
- Non-GAAP gross profit percentage was 52.5% in Q2 FY2017, compared to 57.5% in Q2 FY2016, representing a 5.0 percentage point decrease, and compared to 57.1% in Q1 FY2017.
- Non-GAAP net loss was $2.0 million or ($0.17) per share in Q2 FY2017, compared to $1.6 million or ($0.15) per share in Q2 FY2016, representing an additional ($0.02) loss per share year-over-year, compared to $1.3 million or ($0.11) per share in Q1 FY2017, representing an additional loss of ($0.06) per share quarter-over-quarter.
- Billings decreased 15.6% to $5.8 million in Q2 FY2017 from $6.8 million in Q2 FY2016. Billings, a non-GAAP measure, are defined as revenues plus the change in deferred revenues.
(in thousands, except per share
amounts)
----------------------------------------------------------------------------
Non-GAAP Financial
Measures Q2 Q1 Q2 Change Change
--------------------------------------------------------
FY 2017 FY 2017 FY 2016 Q/Q Y/Y
----------------------------------------------------------------------------
Revenue - total $ 6,584 $ 6,500 $ 6,843 1.3% (3.8%)
----------------------------------------------------------------------------
Revenue - recurring $ 5,145 $ 5,076 $ 5,463 1.4% (5.8%)
----------------------------------------------------------------------------
Revenue - non-
recurring $ 1,439 $ 1,424 $ 1,380 1.1% 4.3%
----------------------------------------------------------------------------
Gross profit -
total $ 3,460 $ 3,710 $ 3,934 (6.7%) (12.0%)
----------------------------------------------------------------------------
Gross profit -
recurring $ 3,710 $ 3,737 $ 3,962 (0.7%) (6.4%)
----------------------------------------------------------------------------
Gross profit/(loss)
- non-recurring $ (250) $ (27) $ (28) (837.9%) (780.3%)
----------------------------------------------------------------------------
Gross margin -
total 52.5% 57.1% 57.5% (4.6 pts) (5.0 pts)
----------------------------------------------------------------------------
Gross margin -
recurring 72.1% 73.6% 72.5% (1.5 pts) (0.4 pts)
----------------------------------------------------------------------------
Gross margin - non
recurring (17.4%) (1.9%) (2.1%) (15.5 pts) (15.3 pts)
----------------------------------------------------------------------------
Net loss $(1,959) $(1,284) $(1,563) (52.6%) (25.3%)
----------------------------------------------------------------------------
EPS $ (0.17) $ (0.11) $ (0.15) $ (0.06) $ (0.02)
----------------------------------------------------------------------------
Billings $ 5,770 $ 6,280 $ 6,836 (8.1%) (15.6%)
----------------------------------------------------------------------------
(in thousands,
except per share
amounts)
------------------------------------------------------
Non-GAAP Financial
Measures Six Months
-----------------------------------
Change
FY 2017' FY 2016' Y/Y
------------------------------------------------------
Revenue - total 13,084 13,121 (0.3%)
------------------------------------------------------
Revenue - recurring 10,221 10,621 (3.8%)
------------------------------------------------------
Revenue - non-
recurring 2,863 2,500 14.6%
------------------------------------------------------
Gross profit -
total 7,170 7,542 (4.9%)
------------------------------------------------------
Gross profit -
recurring 7,447 7,877 (5.5%)
------------------------------------------------------
Gross profit/(loss)
- non-recurring (277) (335) 17.5%
------------------------------------------------------
Gross margin -
total 54.8% 57.5% (2.7 pts)
------------------------------------------------------
Gross margin -
recurring 72.9% 74.2% (1.3 pts)
------------------------------------------------------
Gross margin - non
recurring -9.7% -13.4% 3.7 pts
------------------------------------------------------
Net loss $ (3,243) $ (3,082) (5.2%)
------------------------------------------------------
EPS $ (0.28) $ (0.32) $ 0.04
------------------------------------------------------
Billings $ 12,050 $ 12,867 (6.4%)
------------------------------------------------------
"This quarter we are pleased by both our quarter-over-quarter revenue growth as well as the market's building excitement for our new, disruptive Determine Cloud Platform offering," said Patrick Stakenas, President and CEO of Determine. "We have redeployed assets internally to fund accelerated platform development, while continuing to drive business efficiencies by aggressively managing expenses. We exited this transition quarter with annualized bookings results in line with expectations and are optimistically looking ahead. The sales pipeline strength, as well as customer and market analyst enthusiasm for the Determine Cloud Platform, puts us in a strong position to accelerate sales in the coming quarters."
Q2 FY2017 Business Highlights:
- Determine Unveils the "Future of Source to Pay and Enterprise Contract Lifecycle Management" with our Determine Cloud Platform: During Q2 FY2017, Determine introduced our new Determine Cloud Platform features including a modernized Google-like User Interface (UI) and User Experience (UX), multi-level workflows, improved Apple and Android mobile apps, and self-service contract management. The new features provide an advanced, intuitive workflow and ease of use for our end users to improve collaboration and effective time management across their overall organization.
- Determine's Contract Lifecycle Management Ranked as a Strong Performer by Forrester Research, Inc.: In Q2 FY2017, The Forrester Wave": Contract Life-Cycle Management, Q3 2016, "The 14 CLM Vendors That Matter Most and How They Stack Up," announced that Determine's Contract Management solution ranked as a strong performer, especially in contract approval. The latest Determine Cloud Platform contract management solution adds more robust capabilities, including an intuitive UI/UX, unified master data and self-service templates.
- New Customer and Customer Expansions: During Q2 FY2017, the company engaged numerous new customer accounts in the US and Europe across its Determine SaaS suite of Source to Pay and Enterprise Contract Lifecycle Management solutions. The company added and expanded customers in key verticals including: car rental, financial, healthcare, hospitality, medical equipment, industrial services, industrial machinery and equipment, manufacturing and retail.
- Annualized Bookings: Consistent with expectations during the transition period, in Q2 FY2017, the sales team delivered approximately $750,000 in annualized bookings.
- Thought Leadership: In Q2 FY2017, Determine continued to provide meaningful educational resources to inform our customers and prospects on the ever-changing Source to Pay and Enterprise Contract Lifecycle Management landscape. The company held a well-attended webinar addressing "What Procurement Organizations Need Most - Flexibility and Agility" presented by Joanna Martinez, former CPO, Cushman & Wakefield, Vishal Patel, Director, Solutions Marketing, Tradeshift and Constantine LImberakis, VP Product Marketing, Determine. The company discussed the procurement organization's role in enabling enterprises to be more responsive, adaptable and agile in today's uncertain and competitive environment. In addition to the webinar, the company published a sponsored white paper with Ardent Partners on The Rise of Analytics for Procurement and many blogs topics from third party risk management to legal's view on EU-US data protection.
Conference Call and Webcast: Thursday, November 10, 2016 at 5:00 PM Eastern Time
Participant Conference Call Numbers:
Toll-Free: 1-877-407-0789
Toll/International: 1-201-689-8562
Participant Webcast Link: http://public.viavid.com/index.php?id=121489
Replay Dial-in Information:
Toll-Free: 1-844-512-2921
Toll/International: 1-412-317-6671
From: 11/10/16 @ 8:00 pm Eastern Time
To: 11/17/16 @ 11:59 pm Eastern Time
Replay Pin Number: 13647597
Related: http://investor.determine.com
Supporting Resources
Determine blog
Determine on LinkedIn
Determine on Twitter
Determine guides & misc. resources
Non-GAAP Financial Measures
To supplement our financial results presented in accordance with Generally Accepted Accounting Principles (GAAP), this press release and the accompanying tables contain certain non-GAAP financial measures, including non-GAAP revenue, non-GAAP gross profit, non-GAAP net income and non-GAAP earnings per share, which we believe are helpful in understanding our past financial performance and future results. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, "GAAP to Non-GAAP Reconciliations". Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP.
The difference between GAAP and non-GAAP revenue is due to the impact of revaluing the deferred revenue balances acquired from primarily b-pack as required by GAAP purchase accounting.
The difference between GAAP and non-GAAP gross profit is the difference in GAAP versus non-GAAP revenues as well as the elimination of the amortization of acquisition related intangibles, stock based compensation and severance expense from the costs of revenue. Non-GAAP net loss excludes the non-GAAP gross profit items as well as acquisition related costs.
Our management regularly uses our supplemental non-GAAP financial measures internally to understand and manage our business and forecast future periods; as such, we believe it is useful for investors to understand the effects of these items on our total operations. Further, please note that our non-GAAP revenue is intended to reflect the full amount of revenues that would have been otherwise recorded by the acquired entities of Iasta and b-pack, while our non-GAAP gross profit also excludes the amortization of intangibles that occurred due to the acquisition of the entities of Iasta and b-pack.
Annualized bookings are an operating measure not derived from the company's revenues or any other amounts presented in accordance with GAAP in the company's statement of income, balance sheet or statement of cash flows or other equivalent statements.
"Annualized bookings" means the annualized recurring contracted revenue from a new customer or a cross-sell or upsell to an existing customer.
Forward-looking Statements
Certain statements in this release and elsewhere by Determine are forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements regarding business outlook, assessment of market conditions, anticipated financial and operating results, strategies, product and channel development, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to fluctuations in demand for Determine's products and services, risks of losing key personnel or customers, protection of the company's intellectual property and government policies and regulations, including, but not limited to those affecting the company's industry. Determine undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Additional risk factors concerning the company can be found in the company's most recent Form 10-K as filed by the company with the Securities and Exchange Commission.
About Determine, Inc.
Determine, Inc. (NASDAQ: DTRM) is a leading global provider of SaaS Source to Pay and Enterprise Contract Lifecycle Management (ECLM) solutions. Our visionary technologies allow our customers to effectively manage the full scope of Source to Pay and ECLM using our Determine Cloud Platform. Our Source to Pay software suite includes strategic sourcing, supplier management, contract management and procure-to-pay applications.
The Determine Cloud Platform gives procurement, finance and legal professionals the ability to deliver profound insights through analysis of their supplier relationships and contractual requirements. Our customers leverage the Determine Cloud Platform to discover previously unseen supplier and spend data; make more informed and smarter business decisions; drive new revenue; control costs; improve workflow efficiencies; and mitigate risk.
Our customers benefit from the Determine Cloud Platform's robust suite of integrated applications. Whether they start with a full-suite implementation or choose to implement just one application and build over time, each additional application allows for the automatic sharing of data already in place on the Determine Cloud Platform.
For more information, please visit: www.determine.com.
Determine, Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended Six Months Ended
---------------------- ----------------------
September 30 September 30
---------------------- ----------------------
2016 2015 2016 2015
---------- ---------- ---------- ----------
Revenues:
Recurring revenues $ 5,145 5,413 $ 10,213 $ 10,508
Non-recurring revenues 1,439 1,352 2,863 2,472
---------- ---------- ---------- ----------
Total revenues 6,584 6,765 13,076 12,980
---------- ---------- ---------- ----------
Cost of revenues:
Cost of recurring revenues 1,703 1,757 3,308 3,187
Cost of non-recurring
revenues 1,743 1,503 3,244 2,982
---------- ---------- ---------- ----------
Total cost of revenues 3,446 3,260 6,552 6,169
---------- ---------- ---------- ----------
Gross profit:
Recurring gross profit 3,442 3,656 6,905 7,321
Non-recurring profit loss (304) (151) (381) (510)
---------- ---------- ---------- ----------
Total gross profit 3,138 3,505 6,524 6,811
---------- ---------- ---------- ----------
Operating expenses:
Research and development 1,056 894 2,002 1,481
Sales and marketing 2,767 3,439 5,570 6,881
General and administrative 1,912 1,793 3,671 3,628
Acquisition related costs - 537 - 774
Total operating expenses 5,735 6,663 11,243 12,764
---------- ---------- ---------- ----------
Loss from operations (2,597) (3,158) (4,719) (5,953)
Interest and other
(expense), net (637) (251) (927) (399)
Net loss before income tax (3,234) (3,409) (5,646) (6,352)
---------- ---------- ---------- ----------
Benefit (Provision) from
income taxes 39 (20) 108 (20)
Net loss (3,195) (3,429) (5,538) (6,372)
========== ========== ========== ==========
Net income (loss) attributed
to non-controlling interest (12) 4 (12) 4
Net loss attributable to
Determine, Inc. (3,207) (3,425) (5,550) (6,368)
========== ========== ========== ==========
Redeemable preferred stock
accretion - - - 1,000
---------- ---------- ---------- ----------
Net loss attributable to
common stockholders $ (3,207) $ (3,425) $ (5,550) $ (7,368)
========== ========== ========== ==========
---------- ---------- ---------- ----------
Basic and diluted net loss
per share $ (0.28) $ (0.32) $ (0.48) $ (0.66)
========== ========== ========== ==========
Determine, Inc.
GAAP to Non-GAAP Reconciliations
(In thousands)
(Unaudited)
Reconciliation of total
revenue:
U.S. GAAP as reported $ 6,584 $ 6,765 $ 13,076 $ 12,980
Adjustments:
Deferred revenue
adjustment - 78 8 141
---------- ---------- ---------- ----------
Non-GAAP Revenue $ 6,584 $ 6,843 $ 13,084 $ 13,121
========== ========== ========== ==========
Reconciliation to non-GAAP
net loss:
Net loss $ (3,207) $ (3,425) $ (5,550) $ (6,368)
Stock-based compensation
expense 707 636 1,236 1,214
Deferred revenue adjustment - 78 8 141
Acquisition related costs - 537 - 774
Amortization on intangibles 533 482 1,068 831
Benefit from income taxes - - (13) -
Severance costs 7 129 7 326
Impairment of software
devlopment costs - - - -
---------- ---------- ---------- ----------
Non-GAAP net loss $ (1,959) $ (1,563) $ (3,243) $ (3,082)
========== ========== ========== ==========
---------- ---------- ---------- ----------
Non-GAAP basic and diluted
net loss per share $ (0.17) $ (0.15) $ (0.28) $ (0.32)
========== ========== ========== ==========
Weighted average shares
outstanding for basic and
diluted net loss per share 11,508 10,594 11,466 9,694
========== ========== ========== ==========
Determine, Inc.
Condensed Consolidated Statements of Comprehensive Loss
(In thousands)
(Unaudited)
Three Months Ended Six Months Ended
-------------------- --------------------
September 30 September 30
-------------------- --------------------
2016 2015 2016 2015
--------- --------- --------- ---------
Net loss $ (3,195) $ (3,429) $ (5,538) $ (6,372)
Other comprehensive income
(loss) net:
Foreign currency translation
adjustments 13 (57) (13) (57)
Non-controlling interest (12) 4 (12) 4
--------- --------- --------- ---------
Other comprehensive income
(loss) 1 (53) (25) (53)
--------- --------- --------- ---------
Comprehensive (loss) $ (3,194) $ (3,482) $ (5,563) $ (6,425)
========= ========= ========= =========
Determine, Inc.
Condensed Consolidated Balance Sheets
(In thousands)
September 30, March 31,
2016 2016
-------------- --------------
(Unaudited) (Audited)
ASSETS
Current assets
Cash and cash equivalents $ 8,026 $ 9,418
Accounts receivable, net 5,970 7,031
Restricted cash 34 34
Prepaid expenses and other current assets 1,340 1,551
-------------- --------------
Total current assets 15,370 18,034
Property and equipment, net 111 136
Capitalized software, net 1,946 1,699
Goodwill 14,490 14,490
Other intangibles, net 6,944 8,011
Other assets 1,797 1,843
-------------- --------------
Total assets $ 40,658 $ 44,213
============== ==============
LIABILITIES AND EQUITY
Current liabilities
Credit facility $ 10,861 $ 9,000
Accounts payable 1,799 1,973
Accrued payroll and related liabilities 1,677 1,655
Other accrued liabilities 2,377 2,396
Deferred revenue 9,300 10,299
Income tax payable 43 14
COFACE loan 294 407
Accrued restructuring - 403
-------------- --------------
Total current liabilities 26,351 26,147
-------------- --------------
Long-term deferred revenue 40 67
Convertible note, net of debt discount 5,432 5,420
Other long-term liabilities 1,579 1,382
Deferred tax liability non current 154 290
-------------- --------------
Total liabilities 33,556 33,306
-------------- --------------
Total Determine, Inc. stockholders' equity
controlling interest 6,977 10,794
Non-controlling interest 125 113
-------------- --------------
Total equity 7,102 10,907
-------------- --------------
Total liabilities and equity $ 40,658 $ 44,213
============== ==============
Determine, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unudited)
Six Months Ended
----------------------------
September 30, September 30,
2016 2015
------------- -------------
Operating activities
Net loss $ (5,550) $ (6,372)
Adjustments to reconcile net loss to net cash
used in
operating activities:
Depreciation and amortization 1,656 1,168
Loss on disposition of property and
equipment - 14
Impairment of capitalized software - -
Stock-based compensation expense 1,237 1,213
Deferred tax liability (136) 431
Non-controlling interest 12 4
Changes in assets and liabilities:
Accounts receivable, net 1,051 440
Prepaid expenses and other current assets 211 273
Other assets 122 54
Accounts payable (174) (55)
Accrued restructuring costs (403) -
Accrued payroll and related liabilities 22 548
Other accrued liabilities and other long-
term liabilities - (505)
Deferred revenue (1,026) (981)
------------- -------------
Net cash used in operating activities (2,978) (3,768)
------------- -------------
Investing activities
Purchase of property and equipment (28) (7)
Capitalized software (762) (809)
Purchase of business, net of cash - (826)
Minority shareholder payment - (133)
------------- -------------
Net cash used in investing activities (790) (1,775)
------------- -------------
Financing activities
Proceeds from sale of common stock,
preferred stock and warrants, net of
issuance costs - 310
Employee taxes paid in exchange for
restricted stock awards forefeited 86 227
Issuance of common stock under employee
stock plan 80 87
Issuance of common stock for legal
settlement 35 -
Credit facility borrowing 3,000 -
Credit facility payment (1,139) (347)
Repayment of loan (113) (25)
Conversion of preferred stock to common
stock - (17)
Issuance of debt, net of costs 287 162
------------- -------------
Net cash provided by financing activities 2,236 397
Effect of exchange rate changes on cash 140 (54)
Net increase (decrease) in cash and cash
equivalents (1,392) (5,200)
Cash and cash equivalents at beginning of the
period 9,418 13,178
------------- -------------
Cash and cash equivalents at end of the period $ 8,026 $ 7,978
============= =============
Determine, Inc.
Billings Reconciliation
(In thousands)
(Unaudited)
Three Months Ended Six Months Ended
----------------------- ----------------------
September September September September
30, 30, 30, 30,
2016 2015 2016 2015
---------- ----------- ---------- ----------
Total revenues $ 6,584 $ 6,765 $ 13,076 $ 12,980
Deferred revenue:
End of period 9,340 8,319 9,340 8,319
Beginning of period 10,154 8,248 10,366 8,432
---------- ----------- ---------- ----------
Change in deferred revenue (814) 71 (1,026) (113)
---------- ----------- ---------- ----------
Total billings (total
revenues plus the change in
deferred revenue) $ 5,770 $ 6,836 $ 12,050 $ 12,867
========== =========== ========== ==========
Contact Media Relations Rose Lee Determine, Inc. +1.877.806.1932 +1.650.532.1590 [email protected]
Source: Determine, Inc.
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